Test 2

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Which of the following statements is true of cultural factors that influence consumer behavior?

Social classes show distinct product and brand preferences in areas such as clothing and travel

Which of the following statements is true regarding social classes in the United States

Social classes show distinct product preferences in clothing and automobiles

The customer-driven marketing strategy involves four steps: market segmentation, market targeting, positioning, and differentiation.

TRUE

Bailey's Burgers promotes the Bailey's Jumbo Burger as a fun snack for teens and young adults. In this instance, Bailey's Burgers is practicing ________ segmentation.

age and life-cycle

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must

consider the sales history of similar products

The buyer decision precess consists of five stages. Which of the following is NOT one of these stages?

conspicuous consumption

When it first opened stores across the United States, Bateman's, an office supply chain store, had the best product selection, the best service, and the lowest prices compared to other office supply chain stores. As a result, Bateman's captured a significant chunk of the market in the short run. Which of the following positioning strategies did Bateman's most likely use?

more for less

Ferrari sports cars claim superior quality, performance, and style. Ferrari provides "perfection" at a premium price to keep its brand image intact. Which type of value proposition does Ferrari most likely position its products with?

more for more

Which of the following is true about multivariable segmentation systems

multiple segmentation bases help identify smaller, better-defined target groups

Big Moose Toys=market pioneer. Needs to make the new launch strategy for Bubble consistent with the intended

product positioning

A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimals sales quota. Which of the following is LEAST likely to have been the cause of the failure?

product research was too extensive

Which of the following best characterizes the decline stage of product development?

sales and profits decline

Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a small number of representative cities. The company plans to use the results to forecast national sales and profits. Which of the following did the firm use?

standard test markets

Generation Xers, share the childhood experiences of higher parental divorce rates, recession, and corporate downsizing. They tend to care about the environment and value experience over acquisition. Generation Xers make up a

subculture

At Fantastic Flavors, employees from marketing, design, production, and finance work in a cross functional groups to save time and money in the new product development process. Fantastic Flavors uses a

team-based new-product development approach

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is

test marketing

Which of the following is true of test marketing?

test marketing costs can be high, and it takes time that may allow competitors to gain advantages

Which of the following is a disadvantage of using a differentiated marketing strategy?

the costs of doing business

Steelz Inc. has designed a process that manufactures an improved version of steel more efficiently. In considering the launch of this new steel in the market, the firm must first decide on

timing

Which of the following is the most likely reason that employees regularly attend trade shows and seminars?

to get new-product ideas

Which of the following describes the role of a product steward

to protect the company from liability by proactively ferreting out potential product problems

Which of the following statements is true of the idea generation stage in the new-product development process?

truly innovative companies develop extensive innovation networks that capture ideas and inspiration from every possible source

The iPod is in the

maturity stage of the production lifestlye

Relative advantage, compatibility, complexity, divisibility and communicability are all characteristics of

a products rate of adoption

Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of an

acquisition

In the context of behavioral segmentation, who among the following is a potential user?

Anita, who recently had a baby

These consumers are the most affluent US demographic segment and are expected to have an annual buying power approaching $775 billion by 2015

Asian American

Kia Motors offers a new car model with the same features as other cars in the same segment. However, Kia's model is priced higher than its two main competitors. Kia is following a more-for-less positioning strategy

FALSE

Mass marketing involves identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each.

FALSE

Which of the following statements is true of social classes?

People within a social class tend to exhibit similar buying behavior

Why are customers often considered the most important sources of new-product ideas?

The company can analyze customer questions and complaints to find new products that better solve consumer problems

According to a customer, a Harley-Davidson motorcycle can make one feel like the toughest macho guy on the block. Harley-Davidson promotes its motorcycles with images of independence, freedom and power. Harley-Davidson has created a

brand personality

Marketing mix planning begins with ________.

building an offering that brings value to target customers

Which of the following involves costs that most likely occur during the commercialization stage of new-product development

building or renting a manufacturing facility

Many marketers use the self-concept premise that people's possessions contribute to and reflect their identities. According to this premise, consumers

buy products to support their self images

Which of the following is true about behavioral segmentation on the basis of the loyalty variable?

by looking at customers who are shifting away from its brand, a company can learn about its marketing weaknesses and take actions to correct them

Harvey's Bookstore is a popular online bookstore that has differentiated itself through smooth-functioning delivery networks. This is an example of ________.

channel differentiation

P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the

commercialization stage

Which of the following is true about the concentrated marketing strategy?

companies that rely on a few segments for all of their business will suffer if a segment turns sour

Under a team-based new-product development approach

company departments work closely together in cross-functional teams

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies?

concentrated marketing

Orion Inc. markets luxury watches and chronographs. It targets the wealthy and global elite segment, regardless of the their geographic location. Orion most likely uses

cross-market segmentation

Due to dropping sales a company that manufactures soaps begins to sell them to restaurants and hotels to extend their products life. The soap manufacturer is in the

decline stage of PLC

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?

demographic segmentation

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be the management next step?

develop a planned market rollout over time

GamaPix makes point-and-shoot cameras and handycams for amateur photographers and hobbyists. It also has a separate line of cameras dedicated to professional photographers. Additionally, it designs separate offers for each segment. Which of the following marketing strategies does GamaPix most likely use in this instance?

differentiated marketing

Rex Steelworks makes steel sheets which the firm markets and sells to companies all over the world. Which of the following marketing strategies is most suitable for Rex Steelworks?

differentiated marketing

P&G has sold off a number of lesser or declining brands such as Oxydol detergent and Jif peanut butter. In these examples, management decided to

drop the prodcuts

All of the following are disadvantages of test marketing EXCEPT that test marketing

encourages dishonesty among participants

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favorability with customers, is an example of

fad

The more formal "business attire" look of corporate dress of the 1980's and 90's gave way to the "business casual" look of the 2000s. This is an example of a

fashion

A segment is less attractive if

it already contains many strong and aggressive competitors

Which of the following is a disadvantage of a team-based approach to a new-product development?

it results in organizational confusion and tension

"Many companies today are localizing their products, advertising, promotion, and sales efforts to fit the needs of individual regions, cities and neighborhoods" = example of

geographic segmentation

Pacific Fisheries divides its customers into different regional units, such as Asia, Australia, and the Americas. This is an example of

geographic segmentation

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. This is the

growth stage

When Kraft focused on cost-cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to

harvest the older products

John's fascination for has grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new-product development process does this exemplify?

idea generation

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the

idea screening stage

JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product

image

Symbols such as the McDonald's golden arches, the colorful Google logo, the Nike swoosh, or Apple's "bite mark" logo provide strong company or brand recognition and are indicative of ________ differentiation.

image

Which of the following is a consequence of standardizing an international product?

image consistency

Which of the following is a common reason for new product failure?

incorrect estimation of the market size

A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.

individual marketing

Which of the following statements best explains why idea screening may be the most important step of new-product development?

it saves the company money in product development costs by going ahead with only the product ideas that are likely to be profitable

Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal lower than other used cars. Which of the following value propositions is evident here?

less for much less

Perry's Mart, a grocery store in New Orleans, Louisiana, offers less merchandise selection and fairly low levels of service. Despite the lackluster service and limited selection of merchandise, customers still flock to Perry's because it charges rock-bottom prices. Perry's Mart most likely uses the ________ positioning.

less for much less

The latest trend in the US involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in

lifestlye

Andrew Levitt runs a retail store in Norristown. Andrew's store stocks cold weather products as Norristown mostly has sub-zero temperatures. Which of the following is evident here?

local marketing

Which of the following is a drawback of local marketing?

local marketing increases manufacturing costs by reducing the economies of scale

If Herb interacted one-to-one with his customers to design his products and services according to individual needs, he would be practicing ________.

mass customization

When order requests come in, the designers of Titus Furniture often go to a client's location to note their requirements, budget, and expected date of delivery. In this way, Titus Furnitures is successful in tailor-making products for its customers. This is an example of ________.

mass customization

Over the past few years, Binney and Smith's Crayola crayons have been preferred by users in more than 80 countries around the world. Crayola crayons are in the

maturity stage of the PLC

Which of the following is true with regard to the same for less value proposition?

offering the same for less can be a powerful value proposition because everyone likes a good deal

P&G introduced Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates

one of the problems associated with test marketing

Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She actively shares her knowledge with a wide group of friends and colleagues about where to shop for the latest fashion at great deals. Most of her friends and colleagues follow her fashion tips. Rachel portrays the image of a

opinion leader

CellTones

patent laws

The Jay Group hires better employees than its competition by conducting effective searches and multi-tiered interviews. The company also provides high quality training to its employees, an aspect often neglected by competitors. The Jay Group is most likely to gain a strong competitive advantage through which type of differentiation?

people differentiation

The information sources that are the most effective at influencing a consumer's purchase decision are

personal

James has decides to buy a new vehicle. His brother John has recently purchased a new truck and recommends the same model to James. James finally decides to buy the same truck. Which of the following sources of information has most likely influenced Jame's purchase decision

personal sources

John has decided to buy a particular smartphone that his friend recommended. Which of the following sources of information has most likely influenced John's purchase decision?

personal sources

Apex describes its clothing line as, "Elegance and attitude, now as one. For the daily office-goer, who takes pride in what he or she wears everyday, Apex makes sure you get noticed." This exemplifies a ________.

positioning statement

When Heinz introduced EZ Squirt packaging and new colors such as Blastin Green and Awesome Orange to revitalize consumer buying, the company was modifying the

product

Chronos Inc. designs and markets different brands of cycling watches. Each brand has a single unique feature: the Chronos Cosmos has a heart rate monitor, the Chronos Acumen is designed for older cyclists who prefer a large display, and the Chronos Aegis has a GPS function. Which of the following is evident here?

product differentiation

Which of the following statements characterizes the intro stage of the PLC?

profits are nonexistent

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be a way to approach the problem proactively....

prototype

Different soft drinks target different personalities. This is an example of ________ segmentation.

psychographic

An American cola-manufacturing company primarily targets rebellious and adventurous people most likely uses

psychographic segmentation

Marketers who use__________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals

psychographic segmentation

A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the bands fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The show company believes that the band portrays the image of a

reference group

Which of the following exemplifies a service?

retail

While Jenkins Stationeries was selling branded stationery at premium prices, Pembroke Stationeries, a store across the street, was selling the same branded stationery at discount prices. Which of the following value propositions best describes Pembroke's product positioning?

same for less

Which of the following is the goal of the team based new product development approach when it uses cross functional teams that overlap the steps in the process?

save time and and increase effectiveness

Which of the following is true with regard to services?

services are a form of product that consists of activities, benefits, or satisfactions offered for sale

Jean Malone, a market researcher, recently found that most people in Bradburg County purchase automobiles with predominantly functional designs and prefer darker colors. Which of the following marketing strategies should Jean most likely recommend to an automobile dealer interested in opening a dealership in Bradburg County?

undifferentiated

________ marketing is more suited for uniform products, such as grapefruit or steel.

undifferentiated

Which of the following is most likely circumstance for a company to decide to do little or no test marketing?

when the costs of developing and introducing the product are low

A company getting ready to launch a new product must make several decisions. The company must first decide on

when to introduce the product

The major purpose of test marketing is to provide management with information needed to make a final decision about

whether to launch the new product

The innovation management system approach yields two favorable outcomes: it helps create an innovation oriented company culture, and it

yields a larger number o new product ideas


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