Chapter 11 Quiz
The manufacturer Mike and Ike, the fruit-flavored chewy candies, has changed its packaging and developed contests all geared to 12- to 17-year-olds. What type of market segmentation identifies its market?
demographic
Which of the following is NOT one of the stages in the product life cycle?
development
When the producers of Ocean Spray cranberry products decided to make Craisins (a dried cranberry snack food) available in convenience stores, supermarkets, and vending machines, it was involved with determining _____ strategy.
distribution
A marketer that took the city and the climate into consideration as marketing variables would be concerned about _____ segmentation.
geographic
The craft store marked skeins of embroidery thread down to a quarter apiece to attract more customers into the store. This was below the store's cost. The skeins of thread was intended to be a _____ to increase store traffic:
loss leader
In general, when a business is engaged in environmental scanning, it looks at all of the following external forces that might affect it EXCEPT:
suppliers
_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.
Customer value
_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
Marketing
Which of the following is a consumer durable?
bedroom dresser
_____ segmentation is based on what the product will do rather than on consumer characteristics.
benefit
Which of the following is an example of a capital product that would be found in a brewery?
bottling machine
Business products are classified into two categories. Large, expensive items with long life spans are called _____ products, and; smaller, less expensive items with short life spans are called _____ products.
capital; expense
Compressor pumps installed in General Electric refrigerators would be considered:
component parts
_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.
culture
Which of the following products would be correctly described as being in the decline stage of their product life cycle?
manual typewriters
Shenshen Zhongxing Telecom (ZTE) is a Chinese company that is the only telecommunications company in China that produces and markets an inexpensive camera phone to sell to middle class Chinese living in urban areas. Because ZTE targets a single segment within a limited geographical area, it can be said to have a(n):
niche competitive advantage
The Library is a new bar in town. Unlike the other bars in town, it charges no cover charge. The new bar has also priced its beer at $3 less per pitcher than its competition. Given what you know about pricing strategies, which pricing strategy is the owner of the new bar using?
penetration pricing
_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.
prestige
Pricing a product at $399.99 instead of $400 to make the customer view the price as in the $300 range instead of the $400 range is an example of:
psychological pricing
Customer satisfaction:
refers to the customer's feeling that a product has met or exceeded expectations
