MKTG 3310 - Exam 2

Kidcomp, an American​ computer-manufacturing firm, targets children below the age of ten by providing free games and applications. The​ firm's marketing approach is reflective of​ ___ segmentation.

Age and life cycle

What is an example of a convenience product?

Candy

Socially responsible target marketing would classify which of the following as an especially vulnerable target marketing for harmful or controversial products?

Children

___ is the degree to which an innovation fits the values and experiences of potential consumers.

Compatibility

The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does this represent?

Concentrated marketing

Which type of consumer products are frequently purchased with little planning, little comparison or shopping effort, and low customer involvement?

Convenience products

Goldstone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Goldstone is using ___ to generate new product ideas.

Crowdsourcing

What is the nature of demand in business markets?

Demand in business markets is derived demand.

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ___variables.

Demographic

Heeltoe, a boutique that caters to the footwear needs of​ women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of​ affluent, middle-aged​ women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on​ ___ variables.

Demographic

A marketing firm has been assigned the task of watching trends in spending, personal income, savings, and interest rates. The marketing firm is most likely gathering information about consumers' ___.

Economic situations

Which type of market segmentation has long been used in​ clothing, cosmetics,​ toiletries, and​ magazines?

Gender

___ segmentation calls for dividing the market into different nations, regions, states, countries, cities, or even neighborhoods.

Geographic

Byron Tied 2 Bowties groups its customers by regions in the United​ States, such as​ Midwest, Northeast, and Southwest. For each​ region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its​ market?

Geography

Sales are rising​ rapidly, competitors are growing in number and the customers are early adopters. Which stage of the PLC does this​ describe?

Growth

Compared with undifferentiated marketing, differentiated marketing is more likely to lead to ___.

Higher costs of doing business

At which stage of the new product development process is crowdsourcing used?

Idea generation

GI Jane recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as built-in sunblock and arrive at a realistic number of products for the new fatigues line.

Idea screening

The Learning Institute recently conducted a brainstorming session that generated a large number of ideas for adding new products and services. Learning Institute managers will most likely use ___ next to arrive at a realistic number of ideas to adopt.

Idea screening

A product line is most likely too long if managers can ___.

Increase profits by dropping items

A chiropractor adjusting the spine of a patient illustrates how a service can be produced and consumed simultaneously. This is an example of which service characteristic?

Inseparability

Service ___ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

Intangibility

Amazon recognizes the importance of the buyer-seller interaction. They only hire people with an innate "passion to serve" and they go through weeks of customer loyalty training. This buyer-seller interaction is referred to as ___ marketing.

Interactive

Zappos recognizes the importance of the buyer-seller interaction. They only hire people with an innate "passion to serve" and they go through four weeks of customer loyalty training. This is referred to as ___ marketing.

Interactive

Service marketing requires ___. This means that the service firm must orient and motivate its customer-contact employees and supporting service people to work as a team to provide customer satisfaction.

Internal marketing

A company launching a new product at the commercialization stage of new product development must first decide on ___.

Introduction timing

Identifying, describing, and promoting the product are three functions of ___.

Labeling

This adopter group is skeptical and only adopts new products after a majority of people has tried it.

Late mainstream

Stores offering low-quality alternatives to luxury products at low prices most likely follow a ___ positioning strategy.

Less-for-much-less

In determining product quality, what are the two dimensions of quality marketers must decide upon?

Level and conformance

When we see Hello Kitty on children's clothing, Disney characters on lunchboxes, and Sponge Bob Squarepants on breakfast cereals, which form of brand sponsorship is being used?

Licensing

When Doritos comes out with a new flavors of its tortilla chips, what brand development strategy does it employee?

Line extension

___ involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies.

Market segmenting

What is true regarding product life cycle curves?

Marketers do not know the exact shape and length of their product's life cycle in advance.

When the size, purchasing power, and profiles of a market segment can be determined, the market segment is said to be ___.

Measurable

What would be an appropriate strategy during the maturity stage of the product lifecycle?

Modify the market, product offering and marketing mix

What strategy is most likely to be followed by firms that position themselves as caterers of the best products at economical prices?

More-for-less

A baby boomer decides to purchase a BMW to impress others with her success. This illustrates the importance of understanding the role of ___ in the marketing process.

Motive

Gold Class Electricals, a consumer-electronics firm, targets market segments based on factors such as country, age, social class, usage rate, and benefits sought. The company divides its markets based on ___.

Multiple segmentation bases

Modified and improved products are considered ___.

New

Firms that manufacture seasonal products target their consumers primarily through ___ segmentation.

Occasion

What is a personal factor that influences a consumer's buying behavior?

Occupation and life-cycle stage

Consumers can obtain information from any of several sources. Which sources is the most effective in that they legitimize the product?

Personal sources

___ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Positioning

Bill thought he had received the best deal on his riding mower. Shortly after the purchase, Bill started to notice certain disadvantages of his new riding mower as he learned much more about other riding mowers available in the same price range. Bill is in which of the following stages of the buyer decision process?

Post purchase behavior

A(n) ___ is anything offered to a market that might satisfy a need or want.

Product

A detailed version of a product idea stated in meaningful consumer terms is a ___.

Product concept

At which stage of the new product development process is a physical product first​ developed?

Product development

In the ___ stage of new product development, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them.

Product development

Bose promises "better sound through research." This is an example of ___.

Product differentiation

Electronics International has experienced a significant decline in sales for SweetTunes, its MP3 player, during the past two years. In response, the company has reduced its advertising and sales expenditures for SweetTunes in an attempt to improve short-run profits. Which term best describes Electronics International's strategy for SweetTunes?

Product harvesting

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ___.

Product mix

Bass Pro Shops recognizes that outdoor enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called?

Psychographic

Dividing buyers into groups based on social class, lifestyle, or personality characteristics is called ___ segementation.

Psychographic

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next?

Purchase decision

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ___.

Reference group

___ refers to the degree to which innovation appears superior to existing products.

Relative advantage

Which of the following is a social factor that influences consumer buying behavior?

Roles and status

What is true about the introduction stage of a new product?

Sales growth tends to be slow

When Dr. Lawncare developed his revolutionary new solar powered​ lawnmower, he knew that during the introductory stage of the product lifecycle​ ___.

Sales would be slow and profits non-existent

___ refers to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.

Services

Susan has been redecorating her new condo for a year and searching for the perfect rug. She is carefully selecting every item. Susan finds a rug that matches her color scheme and décor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ___.

Specialty product

A(n) ___ reflects the general esteem given to the different roles of a person by society.

Status

If a segment is large enough or profitable enough to serve, it is ___.

Substantial

At Fantastic Flavors, a large regional chain of candy stores, employees from marketing, design, production, and finance departments work in cross-functional groups to save time and money in the new product development process. From this description, it can be inferred that Fantastic Flavors uses a(n) ___ approach.

Team-based new product development

What is an example of a shopping product?

Television

Foods International is developing a new gluten-free, chili-flavored pretzel. The marketing strategy for the product has already been developed and presented to top management. Several prototypes were also formulated by the company's R&D team. The final prototype is now being tested rigorously to ensure that it passes FDA standards. Once approved, the next step will most likely be ___.

Test marketing

According to the model of buyer behavior, what is in a buyer's black box?

The buyer's characteristics and the buyer's decision process.

Nailit Cosmetics is advertising its newest line of nail polishes. Nailit is selling the products in specially designed bottles that make application​ easier, made from a​ non-toxic, water-based nail polish with amazing summer colors. Which of the following is a core customer value for​ Nailit's line of​ polishes?

The desire to have beautiful nails.

What determines if a buyer is satisfied or dissatisfied with a purchase?

The relationship between the customer's expectations and the product's perceived performance.

To create successful new products, a company must ___.

Understand its consumers, markets, and competitors and develop products that deliver superior value

The quality of services depends on who provides them as well as when, where, and how they are provided. Which characteristics of services does this describe?

Variability

What is a part of the augmented product rather than that of an actual product or core customer value?

Warranty

In what cases are little to no test marketing most likely recommended for a new product?

When the costs of developing and introducing the product are low.

The marketing manager at Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Arbors' approach is best referred to as ___ segmentation.

Benefit

A ___ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.

Brand

Which of the following terms is used to describe a specific mix of human traits that may be attributed to a particular brand?

Brand personality

Which cost is most likely associated with commercialization?

Building or renting a manufacturing facility

Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a company's products?

Buzz marketing

Age, personality, buying style, and job position are ___ factors that can influence the business buying decision process.

individual

Unlike product quality, ___ will always vary.

service quality

In a ___, the business-to-business buyer reorders something without modifications.

straight rebuy

Fads are characterized by their ___.

usually high sales and rapid decline

Howard Schultz, the founder of Starbucks, positioned his bistros as "a third place" between work and home where patrons could share and enjoy a cup of coffee with friends. This illustrates ___.

A core customer value

In the early 1970s, Gary Dahl sold pet rocks. The product had a short, temporary period of unusually high sales driven by consumer enthusiasm and immediate product popularity, but then sales declined very quickly. The PLC sales pattern for pet rocks is known as ___.

A fad