Marketing Exam #2

A company decided to rent a vinyl press for two years instead of buying one when theirs broke. In this situation the large vinyl record press would be classified as

An unsought good

As gillian has become more knowledgeable about health her attitude towards healthier brands and choices has improved. This best relates to the _____ component of attitude

Cognitive

Charmin toilet paper would be classified as which type of product

Convenience

Which of the following identifies old technologies that can be used in new ways or creates new business models to give consumers more benefits than offered by current products in the marketplace?

Disruptive innovation

In which of the following stages of the consumer buying decision process does a person use evaluative criteria to assess a consideration set?

Evaluation of alternatives

The process through which a person acquires knowledge/skill as a consumer is related to what social influence?

Family

which stage in the product life cycle is critical to a products survival because competitive reactions to the products success during this period will affect the products life epectancy?

Growth

When a products performance characteristics are at least equal to those of competitive brands and it is priced lower, which of the following is appropriate?

Head to Head Positioning

Which of the following statements about customer contact in services marketing is false?

High-contact services are less expensive to deliver because they are typically equipment based.

When marketers at Link Snacks met with groups of young adults to identify the types of snacks that young people want they were engaging in which phase of new product development?

Idea Generation

Which of the following contributes to the challenges of supply and demand management?

Inseparability and level of customer contact

Service marketers make promises to customers, suggesting that the customer place some degree of trust in the service provider. In this way service marketers are trying to address the challenge of the service characteristic of

Intangibility

Within the information search step of the consumer buying decision process what two primary aspects exisst?

Internal search and external search

If parkland school furniture company provides standard primary school chairs in new colors to match the interiors of schools this modification is likely to be viewed as ____

aesthetic modifcation

According to the text a product is defined as

anything the customer receives in an exchange

A small private college in Alabama paid a significant sum of money to a marketing firm to study the college's current marketing strategy and help develop new strategies for attracting students. The college is having a difficult time evaluating the effectiveness of the marketing firm's work because this type of service has many

credence qualities

Who judges services quality

customers

In general, differences between goods and services are determined by the

degree of tangibilitiy

Which of the following services falls closest to the middle of the tangibility continuum?

dinner at the olive garden

​The four factors that affect a customer's evaluation of a service are the analysis of customer expectations, service quality specifications, management of service expectations, and

employee performance.

One of the most important factors in providing high service quality to customers is ____

employee satisfaction

High involvement, unfamiliar and expensive products such as cars are most likely to involve

extended decision making

a product that is simply labeled with the product category is considered a

generic brand

Melania a product manager thinks her company's fastbrew coffee maker is currently in the growth stage of the product life cycle. If so the profits for the fastbrew coffee maker _______ and the number of competitors ____

have peaked; is growing

When customer contact jobs are contracted out to the homes of workers it is called _____

homesourcing

The more ____ involved with delivering a service, the greater the degree of heterogeneity.

human labor

The red cross raises money to help people survive natural and manmade disasters. Red cross can best be described as an____

idea

the three levels of brand loyalty from strongest to weakest are

insistence, preference, recognition

Travelers insurance uses an umbrella in its name to symbolize protection. Such symbols provide cues to overcome which aspect off a service

intangibility

Assignment of meaning to organized information inputs is called

interpretation

The test marketing stage

is a sample launching of the entire marketing mix

Extended decision making is the type of consumer decision making process that

is the most complex decision making behavior which comes into play when a purchase involves unfamiliar expensive or infrequently bought products

As the owner of a services business, you are constantly challenged to maintain consistent quality in your services. This heterogeneity is both a challenge and an opportunity. The opportunity arises because __________________.​

it allows you to customize your services to match the specific needs of individual customers

which of the following is closely related to packaging and is used to identify promote inform and address legal requirements?

labeling

Demand based pricing most closely relates to the ______ of services

perishability

Digital influences such as online review sites allow shoppers to reduce their ______ by gaining information from others.

risk in trying an unknown product

While shopping at a local grocery store Cam sees a display of his favorite brand of energy drink He buys some to take home for the weekend. This purchase process would be described as

routinized response behavior

The continuum of tangibility goes from _____ one one end to _____ on the other end

service dominant products; good dominant products

Customers perceptions of how well a service meets or exceeds their expectations is best described as ____

service quality

During the maturity stage

some competitors are forced out

another common name for a private distributor brand is a _____ brand

store

besides generic names, what other types of names are very difficult to protect

surnames and geographic names

which of the following is is not a service product

tennis racket

early in the commercialization phase marketers must make decisions about

warranties, repairs, and replacement parts

When a company offers many product lines it can be said to have a _____

wide product mix

Quality, the overall characteristics of a product that allows it to perform as expected has two components: ____ and ____

Level and Consistency

Which of the following deletion strategies makes no attempt to give a declining product a new life?

Phase Out

Your company has a product that is struggling in its market. However the product appears to have some strength left that can be exploited. Which of the following product deletion actions would be most appropriate for the product?

Reduce the price and implement a run out strategy

Advertisers often use ____ to boost consumers information retention and recall, which may facilitate the information search stage.

Repetition

"The brand is not doing well but it still has a loyal following among some consumers" "i think this brand still has some strengths left" Based on these statements which product deletion strategy should the company adopt?

Run out

ACME Corp is going through the new product development process and is selecting ideas with the greatest potential for development for further review. ACME is in which phase of the new product development process?

Screening

Psychological influences are internal factors that impact a customers buying decision process. More specifically, ________ is one type of psychological influence wherein the consumer has a tendency to twist or change information received to fit their own personal feelings or beliefs.

Selective distortion

The worlds first service economy was ____

The US

Which of the following is NOT a way in which nonprofit marketing is different from conventional marketing?

The chief beneficiary is who owns it or hold stock in it

WHen fiat offers to let qualified buyers test drive the dealer is trying to stimulate which stage of the product adoption process

Trial

Which of the following is responsible for all aspects of developing a product: research and development, production and engineering, finance and accounting, and marketing?

Venture Team

One company markets such diverse products as Old El Paso Mexican foods, Yoplait yogurts and Blue Buffalo pet foods. These various offerings exhibit this firms product mix.

Width

Sarah sets up her new interior decorating business and advertises her expertise in high-quality draperies and other window treatments. One of her first customers is extremely dissatisfied with Sarah's work, so Sarah redoes the job at her own expense because she knows how powerful ____ is (are) for services and wants to stay in business.

Word of moth communication

Purposeful actions to take advantage of or harm others during a transaction is best described as

abusive shopping

Client-based relationships are least likely to be developed by

appliance repairmen.

Tatiana finds evaluating a new pair of jeans much easier than evaluating tennis lessons because she can try on the jeans to see exactly how they feel and fit. In other words, the jeans have many ____ qualities.

assurance

The primary psychological influences on consumer behavior are

attitudes, perception, social class, culture and learning

If Jade were given total marketing responsibility over Hill's Ideal balance pet food she would hold the position of ____ manager

brand

If glade moves from plug ins and candles to laundry detergent and dryer sheets with the same scents, this would be called _____ branding

brand extension

which of the following is the strongest and most desired by marketers

brand insistence

break even analysis is a tool that marketers are likely to employ during the ____ stage of the new product development process

business analysis

Business products are

classified according to their characteristics and intended uses

A universities student body would be considered its ____ public; parents, alumni and trustees would be considered as its _____ public

client; general

Bethany and joseph are preparing budgets for a new product as well as finalizing plans for the full scale marketing and manufacturing of the new UtiliBot. They are in the _____ phase of the new product development process

commercialization

Analyzing __________ can help a firm identify patterns that may indicate the need for corrective action or suggest market opportunities that can be exploited.

complaints and reviews

A set of speakers sold to Volvo for use in the production of XC 90 SUV would be an example of a

component part

Although they become part of a larger product, ____ can often be easily identified and distinguished on the larger product

component parts

Jonah is a member of a consumer panel consisting of about 30 people. The consumer panel has been introduced to a company's new idea for energy drinks. Some of the questions panel members have been asked are "How often would you buy this product?" and "Which features are of little or no interest to you?" Jonah is most likely participating in the ___ phase of the new-product development process.

concept testing

a group of brands that a consumer views as alternatives for possible purchase is called a

consideration set

a distinguishing factor between a brand name and a brand mark is that a brand name

consists of words

During periods of high demand, Uber pricing will often go up, a practice it terms "surge pricing." On the other hand, when times are slow, the prices of rides will often go down. This is to encourage passengers to use Uber during periods of slow demand. This pricing strategy is an example of

demand based pricing

quality modifications are changes that relate to a products

dependability and durability

Coke offers a line of soft drinks that include coke diet coke, sprite and fanta. these drinks best illustrate cokes product mix

depth

When determining how a product is conceived, planned, produced and even its physical appearance and its specific characteristics one is really talking about the products

design, styling and features

Customers usually have two levels of service expectations:____ and ____

desired and acceptable

The marketing channels for services are usually

direct from provider to customer

Which of the following identifies old technologies that can be exploited in new ways or develops new business models to give customers more than they have come to expect from current products in a specific market?

disruptive innovation

Mitchells smartphone is old and he wants a new one with better battery and geographic coverage since he is traveling three days a week for his new job, he is most likely to use ____ for this purchase

extended decision making behavior

Since they were using gas mileage as one of their evaluative criteria they are most likely in the ____ phase of the consumer buying process

external search

AME Corp has decided that all of its product packages should be similar. ACME is using which of the following

family packaging

______ Is the development of a product that is closely related to one or more products in a firms existing product line but is designed specifically to meet somewhat different customer needs

line extension

Doritos has expanded to nacho, cool ranch and salsa verde doritos to name a few. These are examples of

line extensions

Which of the following is NOT a means of re positioning a product?

maintaining products marketing mix

The producers of Gillette razor blades use a marketing strategy that includes large advertising expenditures and more price flexibility for the various types of blades offered. Based on this example, razor blades are in the ____ stage of the product life cycle.

maturity

When a business finds itself squeezed out of a market for a product or loses interest in that product it is a sign of being in the ____ stage of the product life cycle

maturity

which of the following is characterized by intense competition

maturity

Product deletion...

may be opposed by management

The attitude toward the object model consists of which three elements?

perception, motivation and beliefs about product attributes

which of the following is used by retailers or wholesalers to develop more efficient promotions generate higher gross margins and change store image?

private distributor brands

Huy Fong Foods if buying pepper and vinegar to make its iconic sriracha sauce for them these are best described as ____

process materials

______ refers to how a product is conceived, planned and produced

product design

As richard works on the prototype of a new action oriented computer game he is engaging in which phase of the new product development process

product development

Which of the following is the total group of products that an organization makes available to customers

product mix

The decisions and activities intended to create and maintain a certain concept of the firms product, relative to competitive brands in customers minds is

product positioning

A product mix is best described as

product, distribution, promotion and price

What step in developing new prodcuts involves determining wether the product idea is compatible with company objectives, needs and resources on a general level>

screening

Forever 21 clothing stores sell primarily what type of products

shopping

when retailers go to great lengths to create physical settings that appeal to their target market and are conducive to making purchase decisions, they are attempting to shape which of the following influences on consumer buying behavior?

situational

an open aggregate of people with similar social ranking is referred to as a ____

social class

Mikhail works on developing press releases for a nonprofit organization looking for new ways to encourage recycling among consumers and businesses. Mikhail is engaging in

social marketing

a product item is best described as a

specific version of a product

Top managers at ESCORT Radar believe that they have a successful working prototype of their new radar detector and plan to go directly to regional commercialization of the new product. In this instance, they are contemplating skipping the ____ phase of the new-product development process.

test marketing

What is true about test marketing

test marketing is a limited introduction of the product in areas chosen to represent the intended market

Sonequa is a concert promoter who works for singer Beyoncé. She works very hard to make sure most of Beyoncé's concerts are sold out because she understands the concept of perishability, which means

that if the tickets are not sold, seats will remain empty and they can never be sold to anyone again for that specific concert.

the major drawback to using aesthetic modification is

that the value of the modification is determined subjectively

Many aspects of consumer buying decisions are affected by the individuals level of involvement. Level of involvement is

the importance and intensity of interest in a product in a particular situation

A product modification differs from a line extension in that____.

the original product does not remain in the line

What should marketers do to promote the consistency and reliability of their services most effectively?

train employees and develop standard procedures for dealing with customers

free samples can help move consumers move into which of the following

trial

surveys focus groups and customer comment cards are all methods used by services companies to

understand customer needs and expectationss

Which of the following creates entirely new products often aimed at new markets

venture team