Exam 3-Marketing

When marketers state that services are __________, they are referring to the fact that services cannot be stored for use in the future.

perishable

When a research team has gathered data for specific research needs, this is known as

primary data.

Baby Boomers represent a huge demographic segment for travel marketers. Baby Boomers are also heavily motivated by self-fulfillment, which creates the possibility of __________ segmentation.

psychographic

Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura's brand loyalty means she is

relatively insensitive to price.

Private-label brands are developed and managed by

retailers.

When Dr. Putt invented his Eye-Over-the-Ball (EOB) golf putting device, he knew during the introductory stage

sales would be low and profits nonexistent, but he would attract golf equipment innovators.

By the time BMW and Mercedes Benz entered the mini-SUV market, there were many competitors, sales had peaked, and profits were declining. These firms entered the market during the ______________ stage of the product life cycle.

maturity

The knowledge gap is where "the rubber meets the road," where the customer directly interacts with the service provider.

False

Which of the following adopter categories refers to the last large group of buyers to enter a new product market?

Late majority

__________ is the number of items within a product line.

Product line depth

Which of the following is NOT one of the benefits to a firm of new product development?

Reduced costs of production

Which of the following is NOT a recommended strategy for service recovery?

Silencing an irate customer before the individual makes any angry outbursts.

Automobile manufacturers could build cars specially designed for very tall people (for example, over seven feet), but it is likely that this segment is not substantial.

True

Fashion trends tend to experience short product life cycles.

True

When consumers see their friends using an innovation, it often persuades them to try it too

True

For each target market, General Imaging Corporation, a manufacturer of imaging equipment, will engage in positioning, adjusting their marketing mix variables in order to give customers

a clear, distinctive, and desirable understanding of their products relative to competing products.

Technology can help facilitate service delivery through

all of these

Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed using data mining techniques to uncover

patterns of consumers' purchasing behavior.

The number of customers who discontinue their use of a service divided by the average number of total participants is called

churn.

The __________ gap can be reduced by managing consumers' expectations.

communication

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and __________ targeting strategies.

concentrated

When Penguin Catering Services first opened, the owner decided to target only events at resorts in its geographic region. Penguin Catering was using a(n) __________ targeting strategy.

concentrated

Marketers can take advantage of the variable nature of services by

customizing services to meet customers' needs.

A __________ gap can be closed by getting employees to meet or exceed service standards.

delivery

For a brand name to be effective, it needs to be

easy for consumers to recognize and remember.

Within a perceptual map, a(n) __________ represents where a particular market segment's desired product would lie.

ideal point

Randall wants to do an online survey of college professors about the factors that influence their textbook selection. He would like to use a structured questionnaire but is not sure what responses to include for each question. Randall could use __________ to help him develop his questionnaire.

in-depth interviews

Using __________, researchers ask questions, listen to and record responses, and ask additional questions based on initial responses.

in-depth interviews

The manager of a company selling cellular phones in rural U.S. markets asks you to conduct survey research into the question, "What percentage of people in Kansas live in communities of less than 10,000 people?" The problem with this research objective is that

it is already known and available on the U.S. Census website.

Marketers with successful brands sometimes hesitate to expand their brands because

it is costly to maintain many product lines, and might weaken the firm's reputation.

One of the benefits of a differentiated targeting strategy is that it allows the firm to diversify its business and

lower overall risk

The decision to delete a product is never taken lightly because, generally, manufacturers have

made substantial investments in brand development and manufacturing.

Whether they like them or not, most U.S. automobile customers are familiar with and have an opinion about American-made cars. This familiarity makes it easier for consumers to

make purchase decisions.

Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular checkups increase the __________ of dental care by reducing the cost to the consumer.

perceived value

Ronaldo wants to develop an Internet auction-based business and is working through the STP process. After establishing his objectives, describing potential market segments, and evaluating the attractiveness of each segment, Ronaldo now has to

select a target market.

When testing new products, most firms consider the question of whether testing products on animals

should be done when the new product does not contribute to the health and well being of human users.

It is almost impossible to watch a sporting event on television without seeing Nike's "swoosh" check mark, which is Nike's

symbol.

Gerald's Tire Service provides each employee with a clean, sharp-looking uniform. They also instruct employees to put all tools back where they belong and keep the work area clean and uncluttered. Gerald's Tire Service emphasizes __________ in the five service quality dimensions.

tangibles

Salina is working to create greater brand awareness for her company's new line of personal digital assistants. To increase brand awareness, the LEAST important information that should be included in promotions is

the brand name

Samples are often used for new products when _________________ will influence the diffusion of the product.

trialability

Political consultants have been using market research for decades to help their candidates understand

who makes up the voting public and how to reach them.

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore. When evaluating the results, Beverly will likely consider all of the following EXCEPT

why it took her so long to consider the new product line.

Nicole knows her restaurant is understaffed today. She is hoping to get through the day without falling below her customers'__________, the difference between what her customers want and what they will accept before going elsewhere.

zone of tolerance