Marketing Exam 1 T or F

Cian, an automobile manufacturer, offers a new car model with features comparable to that of another popular brand. However, the Cian model is priced lower than its competitor and includes a longer warranty. Can is most likely following a more-for- the-same strategy

False

LaGrange, a floral boutique, segments its customers into three groups: those who frequently use their services, those who have never used their services, and potential users. This is an example of usage-rate segmentation

False

Marketers typically limit their market segmentation analysis to a single variable in order to simplify the process

False

Of the three levels of products and services, the most basic level is the "actual product"

False

When backed by buying power, wants become needs

False

Xenon Corp. releases frequent updates to improve its expensive software products. This marketing approach used by the firm is most likely based on the production concept.

False

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies

True

When consumers react more favorably to a brand than to a generic or unbranded version of the same brand, the brand is said to have positive brand equity.

True

Marketing is managing profitable customer relationships

True