MKT test 2 terms
occasion segmentation
Bakeries and coffee bistros that offer pumpkin flavored items only during the autumn season target their consumers primarily through ___________.
multiple segmentation bases
Gold Glass Electricals, a consumer electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on __________________.
geographic location
Gulf Coast, a wholesale shrimp distributor, groups its customers by regions in the US such as Midwest, Northeast, and Southwest. For each region, Gulf Coast tailors a different set of advertisements and promotions. The supplier is segmenting its market according to _________________.
demographic
Harry's caters to clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of the affluent, middle aged men, and the other line targets younger, up and coming professionals. Harry's most likely segments the consumer market based on _______________ variables.
candy
In class, we discussed perceptual maps. What product did we use to construct a map in class?
evoked
In class, we discussed your selection of fast food restaurants. What is the name of the 'set' from which customers will select a product?
commericalization
Introducing a new product into the market
stretching
Lengthening a product line beyond its current range is referred to as a product line __________.
mass marketing
Marketing the same product to a huge customer base without any customization
line extensions
Non-Dairy Delight, a manufacturer of soy milk, attracts new customers by adding cinnamon pumpkin, and vanilla flavors to its traditional product. In this case, the company has developed its brand with ___________________.
brand extension
Sportware, a leading shoe manufacturer, markets sneakers under the brand name "Athletix" and dress shoes under the brand name "Cameo" in order to target two different market segments. Which branding strategy is most likely being used by Sportware?
idea generation
The new product development process usually starts with ________.
concept testing
The stage in which product ideas are presented to groups of target consumers physically or symbolically
Which of the following is true of product positioning?
To simplify the buying process, consumers are likely to position products in their minds.
market structure
When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in the business markets depends on getting orders from only a handful of large automakers. This represents the difference in _________________ between business and consumer markets.
image
When firms use symbols, colors, or characters to convey their personalities, they are using _________ differentiation.
measurable
When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be _____________.
family
Which of the following is a social factor that influences consumer buying behavior?
life insurance
Which of the following is probably the best example of an unsought product?
need recognition
Which of the following is the first stage of the buyer decision process?
Market segmentation, market targeting, differentiation, and positioning
Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy?
self-actualization
Which of the following needs in Maslow's hierarchy is generally satisfied last?
perishability
World Skies' Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic?
national
Xenon, a leading consumer electronics manufacturing company, markets its products under the company's own brand name. In this case, Xenon has sponsored its products by promoting them as ___________ brands.
shopping
_______ products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style.
psychographic
_______ segmentation factors divide buyers into different groups based on social class, lifestyle, or personality characteristics.
The buying center
___________ is not a fixed and formally identified unit within a buying organization.
cognitive dissonance
a discomfort caused by post purchase conflict.
services
a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible.
brand
a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or the seller of a product or service.
attitude
a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea.
the product life cycle concept
a product class, a product form, or a brand.
business analysis
a review of the sales, costs, and profit projections for a new product to determine whether they satisfy a company's objectives.
convenience consumer
consumer products and services that customer usually buy frequently, immediately, and with minimal comparison and buying effort.
reorders something without any modifications
in a straight rebuy, a buyer....
co-branding
occurs when two established brand names of different companies are used on the same product.
opinion leaders
people within a reference group who, because of their special skills, knowledge, personality, or other characteristics, exert social influence on others.
relative advantage
the degree to which an innovation appears superior to existing products.
perception
the process by which people select, organize, and interpret information to form a meaningful picture of the world.
market segmentation
the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior.
test marketing
the stage where a product and its proposed marketing program are introduced into realistic market settings.
lagging adopters
tradition bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself.
culture
A child in the US is exposed to many values including achievement and success, freedom, individualism, hard work, and material comfort. These are symbolic of American __________.
inseparability
A doctor performing hip surgery on a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic?
decline
A product life cycle has five distinct stages: product development, introduction, growth, maturity, and __________.
increase profits by adding items
A product line is most likely too short if managers can ____________.
evaluation of alternative
Devon is in the market for a new car. She is seriously considering either a Honda Civic or a Toyota Corolla, because they both have excellent quality and safety ratings and are comparable in price. Devon is in __________________ stage of the buyer decision products.
differentiated
Port Orleans Shipping market different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing.
number of different product lines the companies carry
Product mix width refers to the ....
post purchase behavior
Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect?