Intro to Business - Chapter 11

Business products are classified into two categories. Large, expensive items with long life spans are called _____ products, and; smaller, less expensive items with short life spans are called _____ products.

capital; expense

A short story describing how reluctant British citizens are to play party games that might result in them looking foolish is an example of how _____ shapes human behavior.

culture

The manufacturer Mike and Ike, the fruit-flavored chewy candies, has changed its packaging and developed contests all geared to 12- to 17-year-olds. What type of market segmentation identifies its market?

demographic

When the producers of Ocean Spray cranberry products decided to make Craisins (a dried cranberry snack food) available in convenience stores, supermarkets, and vending machines, it was involved with determining _____ strategy.

distribution

Which of the following is an example of a social factor that influences the consumer decision-making process?

family

Selling more rainwear in Seattle than in San Diego due to the annual rainfall is an example of which type of marketing segmentation?

geographic

_____ involves creating a unique marketing mix for every consumer.

One-to-one marketing

Diapers is a product category in the maturity stage of its product life cycle. This means that the manufacturers of diapers:

are creating product line extensions

The 7-member Dover family recently purchased a mini-van because the ads for a Plymouth Horizon showed that it could haul 8 or more people and still have room for books, bags, and sports equipment. Plymouth Horizon was using what form of segmentation with its advertising?

benefit

Ocean Spray first introduced cranberry juice drinks. Then it introduced Cranapple (a cranberry and apple juice mix) also sold under the Ocean Spray brand. This is an example of a:

line extension

The craft store marked skeins of embroidery thread down to a quarter apiece to attract more customers into the store. This was below the store's cost. The skeins of thread was intended to be a _____ to increase store traffic:

loss leader

Aldi is a no-frills grocery chain. It sells grocery staples right out of crates and boxes with emphasis on low-priced, private-label brands. Aldi stores are typically about one-third the size of the traditional supermarket. By controlling expenses, Aldi customers can expect to save 30 to 50 percent compared to Kroger customers. The chain targets bargain hunters who are willing to rent a cart and bag their own groceries. Aldi competitive advantage is based on:

low costs

The two new-product pricing strategies most often used by marketers are:

price skimming and penetration pricing

Vegetarians have the upper hand in Mumbai, India, where not eating meat is a centuries-old tradition. In a booming Indian economy, the vegetarians are outnumbering the meat-eaters in many metropolitan areas. In response to this growing vegetarianism (especially among the middle class), franchises like Pizza Hut have created 100 percent vegetarian menus. By eliminating all meat from pizzas, the Indian Pizza Huts have engaged in a _____ strategy.

product

One never knows the connections that can be made when singles get together to do the laundry. As such, Whirlpool is taking its laundry appliances to the social scene by hosting Spin Cycle events that will give singles a chance to meet, mingle and have some good clean fun while playing laundry-themed games that can earn them Whirlpool prizes. Whirlpool is using these events as part of its _____ strategy.

promotion

Customer satisfaction:

refers to the customer's feeling that a product has met or exceeded expectations

The marketing concept:

satisfies customer wants and needs legally and responsibly

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

screening

Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is a(n) _____ product.

shopping

Understanding that 22 percent of the population buys 84 percent of the cereal products would be useful if cereal manufacturers wanted to segment its market according to:

volume