Exam Two Quiz Questions

MKT questions from quizes

A basic test of the usefulness of the market segmentation process is whether it leads to tangible marketing actions that can

A) be socially responsible.

 B) increase sales and profitability.

 C) produce product differentiation.

 D) create sustainable demand.

 E) stand up to legal scrutiny.

 B) increase sales and profitability.

Market segmentation involves aggregating prospective buyers into groups that have common needs and will

 A) respond similarly to a marketing action.

 B) pay attention to marketing messages.

 C) use the same payment methods.

 D) comply with the organization's core values.

 E) be responsive to marketing research.

A) respond similarly to a marketing action.

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing one, but seems worthwhile if it adds to the manufacturer's sales revenues and profits, serves customers' needs better, and

 A) stabilizes the sales revenues and profits.

 B) conforms to all FDA guidelines.

 C) decreases the cost of the physical plant.

D) doesn't reduce quality or increase price.

 E) creates economy of scale.

D) doesn't reduce quality or increase price.

During its market segmentation process for the Nike LeBron X basketball shoe, which sells for more than $200 a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of

A) selecting target market segments to reach.

 B) forming products to be sold into groups.

 C) forming prospective buyers into segments.

 D) developing a market-product grid and estimating size of markets.

 E) taking marketing actions to reach target markets.

A) selecting target market segments to reach.

"For upscale American families who desire a carefree driving experience, Volvo is a premium-priced automobile that offers the utmost in safety and dependability" is a ________ statement for Volvo in North America.
A) positioning

 B) vision

 C) perception

 D) market-product

 E) differentiation

A) positioning

A ________ is defined as an item consumed in one or a few uses.

 A) shopping good

 B) specialty good

C) nondurable good

 D) durable good

 E) convenience good

C) nondurable good

A ________ is a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same type of outlets, or fall within a given price range.

 A) product mix

B) product line

 C) product form

 D) product item

 E) product class

B) product line

The stage of the new-product process that develops a pool of concepts to serve as candidates for new products is referred to as
A) open innovation assessment.

 B) new-product strategy development.

 C) product development.

D) idea generation.

 E) screening and evaluation.

D) idea generation.

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyer's new product was in the ________ stage of the new-product process.
A) market testing

 B) commercialization

 C) screening and evaluation

 D) business analysis

 E) development

A) market testing

Many forward-looking companies have discovered that their own organization does not generate enough useful new-product ideas. This has caused them to find new-product ideas by developing strategic relationships with outside individuals and organizations, a practice known as

 A) piggy-back thinking.

 B) stakeholder cooperation.

 C) innovation alliances.

 D) open collaboration.

E) open innovation.

E) open innovation.

There are four stages of the product life cycle. What does the first stage of the product life cycle represent?

 A) decline

B) introduction

 C) maturity

 D) growth

B) introduction

Johnson & Johnson effectively repositioned St. Joseph Aspirin as a product for infants to an adult low-strength aspirin to reduce the risk of heart attacks or strokes. This is an example of a product repositioning by

 A) changing the value offered.

 B) product modification.

 C) catching a rising trend.

D) reaching a new market.

 E) reacting to a competitor's position.

D) reaching a new market.

Millions of dollars were spent by Gillette to develop the Gillette Fusion razor shaving system. What was the marketing objective for the company at this stage of the product life cycle?

 A) allow users to spend time doing other things

 B) maintain brand loyalty

C) create awareness and stimulate trial

 D) stress differentiation from other saving products

C) create awareness and stimulate trial

Mattel has a contractual agreement to let Colgate use the Barbie name and image on kids' toothpaste and toothbrushes. Colgate pays Mattel a fee for the use of the Barbie name and image. This is an example of

 A) mixed branding.

 B) co-branding.

 C) generic branding.

D) brand licensing.

D) brand licensing.

Mars, Inc., sells Snickers, Milky Way, Twix, Skittles, Dove, Starburst, M&Ms, and Three Musketeer candy. This variety of brand names is typical of a ________ strategy.

A) multiproduct

 B) mixed brand

C) multibranding

 D) private branding

C) multibranding