quiz 3 - mkt
If Best Western bundles its rooms with services such as free local phone calls, cable television, wireless Internet access, and complimentary breakfast, these services are known as ____ services.
supplementary
A product mix is best described as
all products offered by a firm
According to the text, a product is defined as
anything the customer receives in an exchange
___ are small technology-based firms operating in international markets almost immediately after their establishment and realizing as much as 70 percent of their sales outside the domestic home market.
born globals
Products are classified as being business or consumer products according to the
buyers intended use of the product
The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called
concept testing
When a product tries to capitalize on the brand equity of two separate brands, marketers are using
co branding
Marketing is the process of
creating, distributing, promoting, and pricing products to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relationships with stakeholders in a dynamic environment.
The purpose of market segmentation is to
divide a total market to enable a marketer to develop a more precise marketing mix.
Because of a service's ____, standardization and quality are difficult to control.
heterogeneity
The more ____ involved with delivering a service, the greater the degree of heterogeneity.
human labor
When products are introduced into one nation from another, acceptance is far more likely
if there are similarities between the two cultures
What degree of brand loyalty is the strongest and most desired by marketers?
insistence
Why are line extensions more common than new products?
less expensive and less risky
If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of
line extension
___ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.
line extension
In marketing, family packaging means
making all of a company's or product line's packaging look similar
The percentage of a market which actually buys a specific product from a specific company is referred to as that product's
market share
Marketing managers strive to develop a marketing mix that
matches the needs of the target market
The fact the services cannot be inventoried and then sold at a later date is called
perishability
If Germany, in an attempt to bolster the sales of its own auto manufacturers, decided to limit the number of automobiles that could be brought in from other countries, Germany would be using a(n)
quota
Often, a new product is launched in stages during commercialization. This gradual introduction of the product is known as
roll out
Kashi Heart to Heart cereal is aimed at people concerned about their heart health. These people represent the Kashi
target market
PepsiCo has a new flavor of soft drink that it wants to test to determine reactions of probable buyers. Which of the following test-market characteristics would be least useful to PepsiCo when testing the new soft drink?
tourism
One company markets such diverse products as Old El Paso Mexican foods, Yoplait yogurt products, and Blue Buffalo pet foods. These various offerings exhibit this firm's product mix
width
