quiz 3 - mkt

If Best Western bundles its rooms with services such as free local phone calls, cable television, wireless Internet access, and complimentary breakfast, these services are known as ____ services.

supplementary

A product mix is best described as

all products offered by a firm

According to the text, a product is defined as

anything the customer receives in an exchange

___ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70 percent of their sales outside the domestic home market.

born globals

Products are classified as being business or consumer products according to the

buyers intended use of the product

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called

concept testing

When a product tries to capitalize on the brand equity of two separate brands, marketers are using

co branding

Marketing is the process of

creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.

The purpose of market segmentation is to

divide a total market to enable a marketer to develop a more precise marketing mix.

Because of a service's ____, standardization and quality are difficult to control.

heterogeneity

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

human labor

When products are introduced into one nation from another, acceptance is far more likely

if there are similarities between the two cultures

What degree of brand loyalty is the strongest and most desired by marketers?

insistence

Why are line extensions more common than new products?

less expensive and less risky

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of

line extension

___ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.

line extension

In marketing, family packaging means

making all of a company's or product line's packaging look similar

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's

market share

Marketing managers strive to develop a marketing mix that

matches the needs of the target market

The fact the services cannot be inventoried and then sold at a later date is called

perishability

If Germany, in an attempt to bolster the sales of its own auto manufacturers, decided to limit the number of automobiles that could be brought in from other countries, Germany would be using a(n)

quota

Often, a new product is launched in stages during commercialization. This gradual introduction of the product is known as

roll out

Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi

target market

PepsiCo has a new flavor of soft drink that it wants to test to determine reactions of probable buyers. Which of the following test-market characteristics would be least useful to PepsiCo when testing the new soft drink?

tourism

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

width