Marketing Exam 3

two trends that have caused customer generated information to gain importance

1. increase of customers sharing their opinions through digital media 2. consumers mistrust of info from corporations

The 3 levels of brand loyalty from strongest to weakest are ______, ______, and ______

1. insistence 2. preference 3. recognition

____ refers to the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and digital marketing

Electronic Marketing

______ that can allow almost real-time measurement and evaluation should be embedded at the onset of a social media strategy

Key Performance Indicators

a ______ is a tangible physical entity

Product / Good

executives in Japan decided to price Lexus luxury cars in the US at $55,000, while pricing them at $66,000 in their own country. This is an example of _____. A problem associated with _____ is that consumers predict when prices will be lowered and delay purchases until that time.

Secondary market pricing and periodic discounting

marketers ability to obtain digital info is referred to as _____

accessibility

Food King grocery stores offer candy bars in the checkout lanes for $0.99 rather than $1.00. This use of _____ pricing should help increase sales of candy bars

add number

the ability of a marketer to identify customers before they make a purchase is called _____

addressability

Home Depot has an IOS program that allows users to match colors in photos with the stores carpet selection. This is an example of _____

application

an individual knows that a product exists, but has little information regarding the product and does not seek atonal information. This person is in the _____ stage of the product adoption process.

awareness

devices that trigger a retailers app to display custom messages and promotions are known as _____

beacon technology

If Glade, which markets Glade scented Plug Ins and Glade scented candles and wax melts were to introduce Glade laundry detergent and dryer sheets with the same scents, this would be called _____ branding

brand - extension

the Target bullseye is a classic example of a _____

brandmark

Bethany and Joseph are preparing budgets for a new product as well as finalizing plans for the full-scale marketing and manufacturing the new UtiliBot. They are in the _______ phase of a new product development process.

commercialization

Brand name awareness is an important element of a bran equity because a familiar brand is more likely to be in a customers ______ than an unfamiliar brand

consideration set

due to external pressures and concerns for privacy, Yahoo now has an opt-out option for internet based advertising. This is an example of ________

control

The ______ consists of a product's fundamental utility or main benefit and usually addresses a fundamental need of a customer

core product

Delta airlines encourages customers to posts reviews on its company website or Facebook in hopes of increasing the companies _____

credibility

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability is the _____ stage.

decline

if Norwegian Cruise Lines increased the price of its 7 day cruise package by 10% and, as a result, experienced a 20% decline in customer bookings, Norwegian's demand would be _____

elastic

a measure of sensitivity of demand in relation to changes in price is _____

elasticity

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

generic

The fact that the first massage Gretchen gives each day us better than the last massage demonstrates the _____ of services.

heterogeneity

modifying a product to have a higher _____ may enable a company to charge a higher price by creating customers loyalty and lowering customer sensitivity to price

higher quality

if Florida gas and electric increased its rates by 10% and experienced a 2% reduction in the demand for power, and demand would be _____

inelastic

personal trainers cannot complete their work without their clients present because of the ____ feature of services

inseparability

Brittany recently moved to a new city and is trying to find a new mechanic to o maintenance and repair on her car. She visits several places to judge their overall appearance, cleanliness, and organization and finally chooses a mechanic. Brittany was trying to overcome the _____ aspect of services

intangibility

______ allows customers to express their needs and wants directly to a company in response to its marketing communications

interactivity

for most products a ______ relationship exists between the price of a particular product and the quantity demanded

inverse

Although Seregei's grandfather still prefers to use the landline, he just bought his first cell phone. His grandfather is most likely oriented toward there past and is a member of the _______ group.

laggards

Coca-Cola offers a line of soft drinks that include Coca-Cola, Diet Coke, Coca-Cola Zero, Sprite, and Fanta. These drinks best illustrate Coca-Colas product mix ____

line

In the Chapter 11 lecture, Colgate Calming Clean toothpaste with hemp seed oil was an example of ______

line extension

Dunlop managers notice that when the number of tires the company sells increases from 1,000,000 to 1,000,001 total sales revenue rises $35. The $35 represents the firms ______

marginal revenue

Adidas is establishing a _______ pricing objective to maintain or increase its products sales in relation to total industry sales

market share

internet sides that allow users to share photos, videos, and podcasts are called____

media sharing sites

In production modification, three conditions must be met to improve a firms product mix : the product must be modifiable, customers must be able to perceive that a modification has been made, and ____________

modification should make the product more consistent with customers desires

if Acer uses _____ pricing for its newest Chromebook, it is probably most interested in obtaining market share ; and it is assuming

penetration

Larissa is a concert promoter who works for singer Morgan Wallen. She works very hard to make sure most of Morgans concerts are sold out because she understands the concept of _______ which means that if the tickets are not sold, seats will remain empty and they can never be sold to anyone again for that specific concert.

perishability

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

a product has more features than those of its competition, that is perceived to be of higher quality, warrants using a _____ pricing strategy.

premium

adervtisements for Suave shampoos emphasize that other shampoos may cost more but don't work any better than Suave. In this example, Suave is competing on the basis of ________

price

The internet can be referred to as a ______ medium because users determine which websites they are going to view

pull

minerals, chemicals, timber, and agricultural products are considered _____

raw materials

An American Airways flight from Dallas to Houston was full, and the tickets were more expensive than the almost-empty American Airways flight from Chicago to Phoenix. This is an example of ____ service pricing ?

roll - out

after building a prototype of his new device, Barry is asked to conduct rigorous functional testing to see if the device meets performance and safety qualifications. This is part of the ________ phase of the new product development process.

screening

if Best Western bundles its rooms with services such as free local phone calls, cable tv, wireless internet access, and complimentary breakfast, these services are known as ________ services

supplementary

A _____ signifies that the owner has exclusive use of a brand and others are prohibited from using it.

trademark