Marketing review
There are only two basic strategies for selecting target markets: the undifferentiated targeting strategy and the concentrated targeting strategy
False
Using surveys to conduct marketing research is an example of environmental analysis
False
A research technique is said to be reliable if it produces almost identical results in successive repeated trials
True
Early adopters are the first group of consumers to adopt a new product
True
Many products never get beyond the introduction stage
True
Marketing analytics can help marketers identify how to develop better targeted marketing campaigns
True
One condition for effective segmentation is that at least one segment must have substantial profit potential
True
Patronage motives influenced where one purchases on a regular basis
True
Surnames are difficult to protect as brand names
True
Vendor analysis is a formal, systematic evaluation of current and potential vendors that focuses on a variety of dimensions including price, product quality, delivery service, product availability, and overall company reliability
True
Several conditions must exist for market segmentation to be successful. These conditions include all of the following except
Customers' needs for the product must be homogenous
Which of the following is not a stage in the buyer's product adoption process?
Exploration
The factors that influence business buying behavior are the same as those that influence consumer buying behavior
False
I. In the strategic planning process, marketers conduct their SWOT analysis before developing corporate and business unit strategies
False
In developing a company sales forecast, the forecasting methods are limited to surveys and correlation methods
False
In general, when marketers focus on customers chosen for their lifetime value, they earn lower profits in future periods than when they focus on customers selected for other reasons.
False
Once initiated, the consumer buying decision process always leads to a purchase
False
Profit, even at the expense of customers' satisfaction, is the major thrust of the marketing concept
False
The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets
False
The basic purpose of packaging is to create eye appeal
False
To maintain market share and revenue in an increasingly price sensitive market, companies have have focused on quality, used labor saving technologies, and used efficient manufacturing processes. These tactics have provided gains in productivity that have translated ___ for the consumer.
Lower costs for the company and lower prices
Which of the following products is an example of a manufacturer brand?
Sony TVs
A product line includes a group of closely related product items that are considered to be a unit because of marketing, technical, or end use considerations
True
When marketing to business customers, marketers have to understand the key characteristics of the business customers and after alter their marketing mix accordingly. For example, a business customer views ___ as the amount of investment necessary to obtain a desired level of its return of savings. Moreover, the business customer demands ___ before buying to be sure their needs are being met with the products
Price; detailed information
Marketers who attempt to influence and change the various environmental forces that have a(n) ___ response to these forces
Proactive
Deciding to add gel insoles to its running shoes would be a changing in the ___ element of the marketing mix for Nike
Product
Duds and Suds is a bar with a country and western atmosphere. I additions to the bar, Duds and Suds has a gift shop that sells western clothing with its logo. Norman is the owner of the business and he recently enacted temporary price reductions through clearance sales, discounts, and nightly drink specials. What is Norman most likely trying to do?
Raise cash quickly
Vanessa went to a five star restaurant that had great reviews. The atmosphere was wonderful and she enjoyed the company of her friends and her boyfriend, Paul. However, at the table next to them eat a family with five kids. The kids were very loud and often ran around. Vanessa, who is not very fond of kids, was very annoyed. When she left the restaurant, she remarked to her friend that she didn't see what all the hype over the restaurant was about. Vanessa was most likely influenced by ____
Social surroundings
In which stage of a product's life cycle is the firm focused on establishing and fortifying the product's market position by encouraging brand loyalty?
The growth stage
When a firm's packages are designed to appear to be quite similar, the firm is using family packaging
True
A market orientation is an organization wide effort that includes all of the following activities except
focusing on the marketing department only
When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research.
exploratory
Jose went skiing one weekend with several of his friends. While at the slope, Jose injured his leg and needed to see a doctor. Jose is likely going to view solutions to his problem as
unsought products
