Mkt 301: Test 2 (Chapter 6,7,11,12,&14)

Daniel is a football enthusiast. He watches all the big games, collects football memorabilia, and knows everything there is to know about football history. His best friend Charles is not a football fan. However, he does enjoy watching the Super Bowl every year because of all the excitement. He even finds that he gets really into the game. Usually the Super Bowl is the only football game Charles watches, but he looks forward to it every year. Daniel has an ______ involvement with football, whereas Charles has more of a _______ involvement.

enduring; situational

Ford sells the Ford Mustang, Ford F-150, and the Ford Explorer. This is an example of

family branding

A package of aluminum foil on the shelf at a Korger supermarket has only a white package with black letter stating "aluminum foil." This product is an example of a _____ brand

generic

Rockabye Baby is a boutique that sells luxury baby items. It is located in Los Angeles. The owner has been highly successful over the years and has decided to open another store in San Diego. However, sales at this store have been low. The owner asked a marketing consultant for advice about what went wrong. The consultant says the location is not ideal for the market. The owner located his store in a high-income area, but most of the people in the area are singles or retired couples. Instead, the owner should have used ________ to identify an area of the city with higher-income neighborhoods characterized by couples who want only the best for their newborn babies.

geodemographic segmentation

Increasing the quality of a product may

give a firm an advantage over competing brands

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

The four major stages of a product life cycle include

introduction, growth, maturity, and decline

The test marketing stage

is a sample launching of the entire marketing mix

A major determining factor in deciding which type of decision-making process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's

level of involvement

Which of the following is an example of benefit segemntation?

Colgate-Palmolive markets three types of toothpaste: toothpaste with fluoride to strengthen tooth enamel, toothpaste with whitening properties, and toothpaste for sensitive gums

Which of the following is the stage of the new-product development process where customers are first exposed to the new product idea?

Concept testing

Ariana loves new electronic products, but she also wants to make sure she gets a good value for her money. Therefore, she typically waits a few months after a product is introduced to see whether all the kinks are worked out. In the meantime, she reads ratings and reviews. She also turns to her friend Eric, who is ones of the first people to adopt and test out new products. She relies heavily on Eric's recommendations. When she is satisfied as to its value, she usually buys the product. Ariana most likely fits into which category?

Early majority

Convenience products usually are distributed intensively because sales of these products tend to have a direct relationship to availability

True

High involvement products tend to be those that are expensive and visible to others

True

Just as attitudes are learned, they can be changed

True

Lena is an award-winning fiction writer. She works out of her apartment. She recently purchased a new desk in which to store her manuscripts and for use when typing up stories for publication. Lena is part of the business market for the desk manufacturer

True

Lifestyle analysis focuses on people's activities, interests, and opinions

True

Lilly is looking for new sneaker but cannot find her favorite brand. She then notices another brand of shoes that she has never purchased and has no experience with. She remembers she heard the name of the brand in a commercial yesterday. Because she remembers the name from the commercial, Lilly is more likely to ascribe value to that pair of sneakers

True

Many products never get beyond the introduction stage

True

Motives can be used to segment markets

True

New products seldom generate enough sales to bring immediate prodits

True

The concentrated targeting strategy is one in which an organization directs its marketing efforts toward a single market segment through one marketing mix

True

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs are called product quality

True

You have just been promoted to vice president of marketing for your firm. Unlike your predecessor, you believe the firm can increase its sales in a market by focusing on more than one segment of the market. You recognize that doing so means your firm will incur higher production costs. Based on this information, which of the following targeting strategies are you advocating?

a differentiated targeting strategy

Cassy and James both are buying new iPhones this week. Cassy goes to the Apple store because she wants to actually see the phone before she makes a final decision. James knows that he does not need to see the phone, because he just wants an upgrade from his older version. He simply orders it online from apple.com. Cassy is purchasing her phone through _______, while James is purchasing his through ________

a retailer; a direct-marketing channel

When a single channel member manages an integrated marketing channel to achieve low-cost, effective distribution for satisfying target markets, ______ exists

a vertical marketing system

In an administrated vertical marketing system (VMS), interorganizational relationships are

achieved by informal coordination

Which of the following components of attitude includes an individual's feelings and emotions toward the object or idea?

affective

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

brand

Emily is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using?

Extended

A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix

False

Alex is getting for her wedding. She is obsessed with buying the perfect wedding dress. Her involvement with the dress i an example off enduring involvement

False

Brand preference is the strongest form of degree of brand loyalty

False

Buyers want to export only minimal effort to obtain shopping products

False

Consumers are reluctant to purchase substitute brands if a desired brand of a convivence product is unattainable

False

Dissatisfaction may occur shortly after a purchase; this is called cognitive dissatisfaction

False

Distribution decisions have little influence on the rest of the marketing mix

False

Marketers have little influence over shaping consumers' concepts or perceptions

False

Retailers are frequently found in business product channels

False

Supply chains start with the producer

False

Test marketing is an extension of the product screening process

False

The internet has reduced the potential for conflict and resentment between manufacturers and intermediaries

False

When AT&T acquired Time Warner, this was an example of a contractual VMS.

False

What stage of the consumer buying decision process comes after problem recognition?

Information search

Recently Raul went to a neighborhood grocery store to pick up a few items. When he looked for Degree Men's Dry Protection Antiperspirant, it was unavailable. Although there were a number of antiperspirant brands available, he did not buy any deodorant. Raul's behavior indicates that he most likely has what level of brand loyalty toward Degree Men's Dry Protection deodorant.

Insistence

Which one of the following is most likely to be a product for which both the purchasing decision and the brand decision are strongly influenced by reference groups?

Jeans

Which of the following tactics would typically be employed when a product is on the growth stage of its life cycle?

Lowering prices after developmental costs have been recovered

The annual Consumer Reports rating of your company's flagship product was just released. Generally speaking the rating was good but not great. Based on the consumer comments that were referenced on the rating, it appears that many consumers have a negative view of the product's convenience and safety attributes. In order to address these consumer concerns your company should consider doing which of the following?

Make functional modifications to the product

Publix is attempting to forecast sales for a new ice cream cake. To come up with an accurate forecast, Publix places the product in Atlanta supermarkets for a period of four months. In this instance, Publix is using which forecasting method?

Market test

What links producers to consumers through the purchase and reselling of products or contractual agreements?

Marketing intermediaries

Marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. They will do so by letting the product decline and not change the current marketing strategy. This method of deletion is called

Phase-out

An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?

business

For which of the following products would exclusive distribution be most appropriate?

Rolls Royce automobile

Why would a company use the undifferentiated strategy?

The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix

In order for the marketer to achieve effective market segmentation, which of the following conditions must exist?

The segment must have enough profit potential to justify the development of a separate marketing mix for the segment

Which of the following is NOT a characteristic of a consumer market?

Their purchasing decisions are always made by only one individual

A role consists of a set of actions and activities that a person in a particular position is expected to perform

True

Cadbury launched a new chocolate product, Cadbury Diary Milk, with a label proclaiming "with Oreos" on its package. This is an example of _______

co-branding

One disadvantage of test marketing a new product is that

competitors may copy the product

Marketing managers have several choices in selecting a targeting strategy. Kristina Olivera is a marketing manager with Garrison Brothers Distillery, a craft bourbon distiller in Texas, and knows that there are many different types of bourbon drinkers. However, she concentrates her marketing on the enthusiast or high-involved bourbon drinker who often enjoys a bourbon beverage before or after dinner, reads magazines to keep up with the craft bourbon industry, and is a member of their e-mail list and subscriber to the company's blog. Kristina knows that this segment of bourbon drinkers will consume more bourbon, be more likely to engage in positive word-of-mouth about the brand, and will also be more likely to purchase accessories such as glassware or T-shirts. Kristina is most likely utilizing the _________ targeting strategy, employing just one marketing mix and focusing on one target market segemtn

concentrated

Brand name awareness is an important element of brand equity because a familiar brand is more likely to be in a customer's _______ than an unfamiliar brand

consideration set

Comcast uses a segmentation strategy for its cable TV packages based on market characteristics such as age, gender, or income. Which of the following category of segmentation variables is Comcast using?

demographic

Grace recently visited a Starbucks store and wanted to purchase its $79.95 Teavana ice tea maker. She has never bought a Teavana product before, but she knows it is owned by Starbucks. Grace views Starbucks very positively and loves their drinks. Grace will most likely use ______ when determining whether to purchase the ice tea maker.

limited decision making

Harry is an athlete who plays a variety of sports that all require various athletic shoes. He has a favorable attitude toward Under Armour shoes. This favorable attitude is called brand

loyalty

Claudia's company has begun offering advertising assistance and allowances to retailers carrying its well-known hair-styling gel. This would suggest that the company's hair-styling gel has entered which phase of the product life cycle?

maturity

Companies are increasingly using ________ to respond to changing consumer preferences to be able to buy a product whoever and whenever they desire

multichannel distribution

Dell makes its computers available through its own stores, its website, and some major retailers. This is an example of

multichannel distribution

During the introduction stage of a successful product, profits are usually

negative and increasing

Eliminating a wholesaler from a marketing channel will

not eliminate the functions performed by that wholesaler

Jimmy is interested in determining how customers consider his firm's dietary products compared with its competitors. He begins surveying customers and asking them to express what they think about the products and brands in the dietary industry based on the dimensions or effectiveness and affordability. He will use this feedback to create "ideal points" for what consumers desire in dietary products. He will then compare these "ideal points" with his firm's products as well as other brands in the industry to see how they measure up. Jimmy is engaging in

perceptual mapping

Hereditary characteristics combined with personal experiences that together make an individual unique form on'es

personality

The results of many studies have been inconclusive regarding the association between buyer behavior and

personality

Cognitive dissonance is most likely to occur during which part of the decision-making process?

post purchase evaluation

Mecklin Steel Company leases a warehouse in Birmingham, Alabama, to sere Deep South markets that are large enough and stable enough to make a long-term commitment to fixed facilities. This is a

private warehouse

Sarah is going to the store to buy milk and cereal. She will most likely use _______ in her consumer decision-making process

routinized response behavior

When evaluating market segments, assessment of competitors is important becasue

sales estimates may cause a segment to appear to be lucrative, but there may be several competitors that together have a large share of that segment

Jaguar I-Pace sedans have the unique characteristics of being a totally electric, luxury sports sedan. The marketing manager wants to focus on these unique aspects rather than comparing the vehicles directly to competitors. He wants the I-Pace to be seen in a totally different light. Based on these objectives, he would want

to avoid competition

If a large proportion of customers in a total market have similar product needs and the company has the resources to develop a marketing mix to satisfy them. which targeting

undifferentiated strategy

Jack Harper's Auto Towing Service would best be described as an _______ product

unsought

Alibaba is a Chinese e-commerce firm similar to Amazon.com. It has increased its power and global influence with strong leadership from its founder, including knowing when to acquire other organizations. For instance, in addition to acting as a platform for buyers to purchase products, it also acquired firms in the delivery and payments industries so it would have more control over the entire process. Alibaba's acquisitions are an example of

vertical channel integration