MGMT 105 Chapter 5 6 8 9

Which of the following refers to the systematic and usually team-based approach to coordinating all aspects of a product's
strategy development and execution?
A. Product line
B. Product management
C. Cannibalization
D. Product-line length
E. Product mix

B. Product management

Which of the following refers to a firm's total product offering to satisfy a group of target customers?
A. Product management
B. Product line
C. Product line length
D. Cannibalization
E. Product mix

B. Product line

​A(n) ________, with fewer product variations, can improve the firm's image if consumers perceive it as a specialist with a
clear, specific position in the market.
A. downward-line stretch
B. upward-line stretch
C. filling-out strategy
D. full line
E. limited line strategy

E. limited line strategy

The _____ is determined by the number of separate items within the same category. It is typically reflected in the number of
stock-keeping units (SKUs).
A. sales line depth
B. stock units measure
C. product option expansion
D. product line length
E. categorical product line

D. product line length

Which of the following refers to the loss of sales of an existing brand when a new item or product family is introduced?
A. Cannibalization
B. Stock-keeping unit (SKU)
C. Internal customer mind-set
D. Product line remix
E. Brand equity

A. Cannibalization

Which of the following refers to the number of different product lines the firm produces?
A. Product quality
B. Product mix width
C. Product mix
D. Cannibalization
E. Product line

B. Product mix width

Which of the following statements does NOT comprise an internal customer mind-set?
A. Meeting the needs of employees who receive my work is critical to doing a good job.
B. It is important to receive feedback from employees who receive my work.
C. I focus on the requirements of the person who receives my work.
D. My focus is on the customer who buys our products.
E. Employees who receive my work are my customers.

D. My focus is on the customer who buys our products.

Which of the following refers to a standard of no more than 3.4 defects per million—getting it right 99.9997% of the time?
A. Six Sigma
B. Internal customers
C. Product quality
D. ISO 9000
E. Total quality management (TQM)

A. Six Sigma

Which of the following refers to a concept that explains how products go through four distinct stages from birth to death:
introduction, growth, maturity, and decline?
A. Product mix
B. Product line
C. Product quality
D. Product management
E. Product life cycle

E. Product life cycle

After a new product is introduced to the marketplace, which of the following stages of the product life cycle features slow
growth?
A. Maturity stage
B. Growth stage
C. Cannibalization stage
D. Introduction stage
E. Decline stage

D. Introduction stage

Which of the following stages of the product life cycle features new competitors that enter the market, creating new
variations of the product?
A. Cannibalization stage
B. Growth stage
C. Maturity stage
D. Decline stage
E. Introduction stage

B. Growth stage

Which of the following stages of the product life cycle is likely to utilize reminder advertising for marketing communications
as profit margins narrow?
A. Cannibalization stage
B. Decline stage
C. Growth stage
D. Maturity stage
E. Introduction stage

D. Maturity stage

At what stage of the product life cycle is the goal to remain profitable and decide whether to keep or phase out the
product?
A. Decline stage
B. Growth stage
C. Maturity stage
D. Cannibalization stage
E. Introduction stage

A. Decline stage

Which of the following refers to a name, a term, a symbol, or any other unique element of a product that identifies one
firm's product(s) and sets it apart from the competition?
A. Anthropomorphism
B. Sustainability
C. Brand personality
D. Brand
E. Licensing

D. Brand

Which of the following refers to the legal term for a brand name, brand mark, or trade character?
A. Licensing
B. Stock-keeping unit
C. Trademark
D. ISO
E. Extensions

C. Trademark

________ provides a competitive advantage because it gives the brand the power to capture and hold onto a larger share
of the market and to sell at prices with higher profit margins.
A. Brand cannibalization
B. Brand equity
C. A trademark
D. Brand meaning
E. A brand

B. Brand equity

When considering brand extensions, there is a risk of _____, in which the contrast between the brand extension's less
positive characteristics and the more positive characteristics of the brand can lead to a shift in how consumers perceive
the brand.
A. self-concept attachment
B. interdependence
C. nostalgic attachment
D. brand explosion
E. brand dilution

E. brand dilution

Which of the following refers to a branding strategy in which a group of individual products or individual brands share?
A. Co-branding
B. Private-label brand
C. Generic brand
D. Family brand
E. National or manufacturer brand

D. Family brand

Costco's store brand Kirkland Signature is an example of which branding strategy?
A. National or manufacturer brand
B. Generic brand
C. Co-branding
D. Private-label brand
E. Family brand

D. Private-label brand

Which of the following branding strategies benefits partnering companies by combining the two brands to provide more
recognition power than either enjoys alone?
A. Generic brand
B. Private-label brand
C. Family brand
D. National or manufacturer brand
E. Co-branding

E. Co-branding

Which of the following aspects of packaging is utilized to supply specific information about the type of item, the
manufacturer, and the specific product?
A. Directions for use
B. Package shape
C. Warnings
D. Photo of product in use
E. Universal Product Code (UPC)

E. Universal Product Code (UPC)

Which of the following is an individual who is responsible for developing and implementing the marketing plan for a single
brand?
A. Market manager
B. Brand manager
C. Product management
D. Product category manager
E. Venture team

B. Brand manager

Which of the following refers to an individual who is responsible for developing and implementing the marketing plans for
products sold to a particular customer group?
A. Product management
B. Venture team
C. Brand manager
D. Market manager
E. Product category manager

D. Market manager

Which of the following refers to individuals who are responsible for developing and implementing the marketing plan for all
the brands and products within a category?
A. Product category manager
B. Market manager
C. Venture team
D. Product management
E. Brand manager

A. Product category manager

Which of the following refers to a group of people from diverse areas within an organization who work together to focus
exclusively on the development of a new product?
A. Market manager
B. Product category manager
C. Product management
D. Venture team
E. Brand manager

D. Venture team

Which of the following is the term used by marketers to indicate the broad range of possibilities for product value and attributes?
A. Design thinking
B. Durable good
C. Offering
D. Components
E. Shopping product

Offering

Which the following consists of all the benefits a product will provide for consumers or business customers?
A. Augmented product
B. Actual product
C. Good
D. Attributes
E. Core product

Core product

Which of the following product layers might include a warranty, credit, delivery, installation, and repair service after the sale because marketers know that adding these supporting features to a product is an effective way for a company to stand out from the crowd?
A. Core product
B. Good
C. Attributes
D. Actual product
E. Augmented product

Augmented product

Which of the following terms refers to features, functions, benefits, and uses of a product?
A. Attributes
B. Augmented products
C. Goods
D. Actual products
E. Core products

Attributes

Tablet computers are an example of a(n) ________ because the consumer spends considerable time and effort gathering information and comparing alternatives before making a purchase.
A. specialty product
B. staple product
C. shopping product
D. convenience product
E. unsought product

shopping product

Which of the following refers to a consumer product that is usually low-priced, widely available, and purchased frequently with a minimum of comparison and effort?
A. Unsought product
B. Convenience product
C. Specialty product
D. Durable product
E. Emergency product

Convenience product

Which of the following product categories classifies milk, bread, and gasoline as basic or necessary items that are available almost everywhere and most consumers don't perceive big differences among brands?
A. Specialty product
B. Unsought product
C. Shopping product
D. Staple product
E. Impulse product

Staple product

Which of the following is produced when firms transform raw materials into a new product?
A. Maintenance products
B. Specialized services
C. Processed materials
D. Equipment
E. Accessories

Processed materials

Which of the following refers to products that organizational customers purchase to use in their finished products?
A. Accessories
B. Component parts
C. Raw materials
D. Equipment
E. Specialized services

Raw materials

Which of the following refers to the products an organization uses in its daily operations, such as the robotics Ford uses to assemble automobiles?
A. Maintenance, repair, and operating (MRO) products
B. Raw materials
C. Equipment
D. Component parts
E. Processed materials

Equipment

Which of the following refers to a modification to an existing product, to set one brand apart from its competitors?
A. Convergence
B. Value co-creation
C. Continuous innovation
D. Design thinking
E. First mover advantage

Continuous innovation

A _____ is a new product that copies, with slight modification, the design of an original product.
A. convergence
B. prototype
C. discontinuous innovation
D. knockoff
E. patent

knockoff

Which of the following refers to a product innovation that requires a major change in the way consumers live and creates a new market and value chain?
A. First mover advantage
B. Ideation
C. Disruptive innovation
D. Convergent thinking
E. Continuous design thinking

Disruptive innovation

Which of the following is a question a firm would ask when evaluating the firm's strategy on an innovation scorecard?
A. How aware are organization members of the firm's goals for innovation?
B. Does the organization intentionally avoid trying new things?
C. Does the organization have an appetite for learning and trying new things?
D. Does leadership encourage members of an organization to try things without fearing failure?
E. Do the organization's members have the freedom and security to try things, fail, and then go forward to try different things?

How aware are organization members of the​ firm's goals for​ innovation?

Marketers estimate technical success when they decide whether a new product is technologically feasible and a(n) _____ success when they decide whether anyone is likely to buy the product.
A. profitable
B. strategic
C. commercial
D. innovative
E. marketing

commercial

When it comes to determining an organization's commitment to innovation, _____ can be used as a central metric.
A. research and development
B. degree of newness
C. discontinuous innovation
D. convergence
E. design thinking

research and development

Value co-creation occurs in what phase of the new production development process?
A. Test marketing
B. Business analysis
C. Marketing strategy development
D. Idea generation
E. Product concept development and screening

Idea generation

Which phase of the new product development process involves identifying the target market, estimating its size, and determining how the company can effectively position the product to address the target market's needs?
A. Marketing strategy development
B. Product concept development and screening
C. Test marketing
D. Idea generation
E. Commercialization

Marketing strategy development

At what phase of the new product development process is a firm likely to create a prototype of the product?
A. Marketing strategy development
B. Product concept development and screening
C. Business analysis
D. Technical development
E. Idea generation

Technical development

Which of the following is the phase in the new product development process in which companies launch a new product, and it requires full-scale production, distribution, advertising, and sales promotion?
A. Marketing strategy development
B. Commercialization
C. Test marketing
D. Idea generation
E. Product concept development and screening

Commercialization

A company is likely going to use a media blitz in which step of the adoption pyramid?
A. Adoption
B. Interest
C. Awareness
D. Evaluation
E. Trial

Awareness

Which of the following refers to the stage of the product adoption pyramid in which consumers weigh the costs and benefits of the new product?
A. Trial
B. Adoption
C. Evaluation
D. Interest
E. Awareness

Evaluation

Many innovative technology products are released as a(n) _____ test to allow usage and feedback from a small number of users who are willing to test the product under normal, everyday conditions of use.
A. bleeding edge
B. relative advantage
C. beta
D. trialability
E. observability

beta

Which of the following adopters are concerned about social acceptance, so they tend to gravitate toward products they
believe will make others think they are cutting-edge or fashionable?
A. Late majority
B. Innovators
C. Laggards
D. Early majority
E. Early adopters

Early adopters

Which of the following describes the degree to which a consumer perceives a new product as providing superior benefits?
A. Complexity
B. Trialability
C. Compatibility
D. Relative advantage
E. Observability

Relative advantage

Which of the following is a generic term that denotes the broad range of possibilities of product attributes?
A. Goods
B. Benefits
C. Core products
D. Value propositions
E. Offering

E. Offering

Which of the following is the foundation of a value proposition?
A. Durable goods
B. Attributes
C. Augmented products
D. Core products
E. Benefits

E. Benefits

Which type of product is usually purchased on the spur of the moment?
A. Emergency
B. Impulse
C. Specialty
D. Shopping
E. Unsought

B. Impulse

Which of the following types of products usually require the consumer to spend time to gather information on quality, price, and attributes before making a purchase decision?
A. Impulse
B. Convenience
C. Emergency
D. Consumer packaged good
E. Shopping

E. Shopping

Which of the following takes place when two or more technologies are combined to create a new system that provides greater benefits?
A. Value co-creation
B. Ideation
C. Continuous innovation
D. Dynamic innovation
E. Convergence

E. Convergence

Which of the following must take place to be considered disruptive innovation?
A. The customer must perceive the item as new and different and of greater value than the previous product.
B. A new market and value chain must displace established market-leading firms, products, and alliances.
C. There must be at least slight modifications made to the design of the original product.
D. There must be a totally new product that creates major changes in the way we live.
E. There must be a convergence of two or more technologies that create a new system with greater benefits offered to consumers.

B. A new market and value chain must displace established market-leading firms, products, and alliances.

Within the organization, what is the process that includes a systematic and well-defined approach to innovation?
A. New product development
B. Business analysis
C. Research and development
D. Product concept screening
E. Marketing strategy development

C. Research and development

During which phase of new product development do marketers use numerous sources to come up with new product thoughts compatible with the company's mission?
A. Product concept development and screening
B. Market test
C. Ideation
D. Technical development
E. Business analysis

C. Ideation

In which stage of the adoption process does a consumer weigh expected versus actual benefits and costs?
A. Adoption
B. Interest
C. Confirmation
D. Evaluation
E. Awareness

C. Confirmation

Who is known to gravitate towards products that will make others think the adopter is fashionable and cutting-edge?
A. Early adopters
B. Early majority
C. Late majority
D. Laggards
E. Innovators

A. Early adopters

Which of the following terms refers to the process individuals or groups go through to​ select, purchase,​ use, and dispose of​ goods, services,​ ideas, or experiences to satisfy their needs and​ desires?

A. Consumer Behavior
B. Search Engine Marketing (SEM)
C. Search Marketing
D. Perceived Risk
E. Involvement

Consumer Behavior

If a consumer sees a significant difference between his or her current state of affairs and some desired or ideal​ state, which step of the consumer​ decision-making process is the consumer​ in?

A. Product Choice
B. Evaluation of Alternatives
C. Post-Purchase Evaluation
D. Information Search
E. Problem Recognition

Problem Recognition

At what step in the consumer​ decision-making process is a marketer likely to utilize search marketing techniques such as search engine optimization​ (SEO), sponsored search​ ads, and shopbots to help consumers find and learn more about their​ products?

A. Product Choice
B. Evaluation of Alternatives
C. Post-Purchase Evaluation
D. Information Search
E. Problem Recognition

Information Search

In which step in the​ consumer-decision making process will a consumer narrow down choices deciding on​ feasibility, and comparing the pros and cons of each remaining​ option?

A. Product Choice
B. Evaluation of Alternatives
C. Post-Purchase Evaluation
D. Information Search
E. Problem Recognition

Evaluation of Alternatives

What step of the consumer​ decision-making process is a consumer likely to be in if heuristics such as brand loyalty and​ country-of-origin are factoring into the​ decision?

A. Product Choice
B. Evaluation of Alternatives
C. Post-Purchase Evaluation
D. Information Search
E. Problem Recognition

Product Choice

If a consumer is experiencing cognitive dissonance regarding his or her​ purchase, the consumer is on what step of the consumer​ decision-making process?

A. Product Choice
B. Evaluation of Alternatives
C. Post-Purchase Evaluation
D. Information Search
E. Problem Recognition

Post-Purchase Evaluation

Which of the following terms refers to the process by which people​ select, organize, and interpret information from the outside​ world?

A. Exposure
B. Perception
C. Interpretation
D. Attention
E. Motivation

Perception

Which of the following terms refers to the extent to which a​ person's sensory receptors are capable of registering a​ stimulus?

A. Motivation
B. Perception
C. Attention
D. Exposure
E. Interpretation

Exposure

If an advertiser uses hidden messages in its product​ commercial, or hides messages in the product itself​ (such as baking words into the tops of​ crackers), the advertiser is using​ _____ advertising.

A. Conditioning
B. Subliminal
C. Cognitive
D. Behavioral
E. Observational

Subliminal

When people learn that their actions result in rewards or​ punishments, the type of behavioral learning that occurs is​ _____ conditioning.

A. Cognitive
B. Basic
C. Operant
D. Classical
E. Modern

Operant

The feeling component of attitudes is referred to as _____.
A. sadvertsing
B. personality
C. self-concept
D. affect
E. cognition

affect

Which of the following refers to the​ values, beliefs,​ customs, and tastes a group of people​ values?

A. Time poverty
B. Subculture
C. Microcultures
D. Culture
E. Sensory Marketing

Culture

Which of the following refers to the marketing techniques that link distinct experiences such as a unique fragrance with a product or​ service?

A. Time poverty
B. Subculture
C. Microcultures
D. Culture
E. Sensory Marketing

Sensory Marketing

Those who exhibit similarities in occupations, education, and income level, and have similar tastes in style and activities are members of a(n) _____.

A. consumer movement
B. reference group
C. social class
D. organizational market
E. microculture

Social class

Which of the following terms is an actual or imaginary individual or group that has a significant effect on an​ individual's evaluations,​ aspirations, or​ behavior?

A. Social Class
B. Mass-Class
C. Opinion Leader
D. Status Symbol
E. Reference Group

Reference Group

Which of the following refers to a person who influences​ others' attitudes or behaviors because they believe that he possesses expertise about the​ product?

A. Social Class
B. Status Symbol
C. Mass-Class
D. Opinion Leader
E. Reference Group

Opinion Leader

Which of the following refers to demand in which changes in price have little or no effect on the amount​ demanded?

A. Inelastic Demand
B. Organization Markets
C. Fluctuating Demand
D. Derived Demand
E. Joint Demand

Inelastic Demand

Which of the following describes a​ business-to-business, or​ organizational, market?

A. Purchases for individual or household consumption
B. Many individual or household customers
C. Purchases frequently made on impulse
D. Purchases involving competitive​ bidding, price​ negotiations, and complex financial arrangements
E. Demand based on consumer needs and preferences that is generally​ price-elastic, steady over​ time, and independent of demand for other products

Purchase involving competitive bidding, price negotiations, and complex financial arrangements

Which of the following refers to a group that purchases finished goods for the purpose of selling those finished goods for a​ profit, renting, or leasing to consumers and other​ businesses?

A. Not-for-Profit Markets
B. Organizational Markets
C. Government Markets
D. Resellers
E. Producers

Resellers

Which of the following is most likely to occur in the consumer market but not in the organizational market?

A. Purchases involve high risk and high cost
B. There are a limited number of large buyers
C. Several people frequently make the decision
D. Purchases are based on emotional responses to products or promotions
E. Products are more complex and classified based on how the customer will use them

Purchases are based on emotional responses to products or promotions

Which of the following business-to-business terms refers to the routine purchase of items that a B2B customer regularly needs?

A. Modified rebuy
B. Buyclass
C. New-task buy
D. Buying center
E. Straight rebuy

Straight Rebuy

Which of the following is the role of the influencer within the buying center?

A. To offer advice based on expertise, even though they may not use the product
B. To identify when a piece of equipment is not working properly and needs to be replaced
C. To actually use the product that is purchased
D. To control the flow of information to others in the buying center
E. To make the final purchase decision

To offer advice based on expertise, even though they may not use the product

In the buying​ center, which role has responsibility to execute the​ purchase?

A. Gatekeeper
B. Influencers
C. Buyer
D. Decider
E. Initiator

Buyer

Which of the following terms refers to creating a written description of the​ quality, size,​ weight, color,​ features, quantity,​ training, warranty, service​ terms, and delivery requirements for the​ purchase?

A. Reciprocity
B. Product Specifications
C. Single Sourcing
D. Multiple Sourcing
E. Customer Reference Program

Product Specifications

Which of the following refers to a combination of hardware and software that ensures that only authorized individuals gain entry into a computer​ system?

A. Reverse Marketing
B. Firewall
C. Outsourcing
D. Malware
E. Encryption

Firewall

Which of the following refers to the process individuals experience when working to satisfy their own needs and desires?
A. Extended problem solving
B. Consumer behavior
C. Perceived risk
D. Problem recognition
E. Habitual decision making

B. Consumer behavior

Which of the following is NOT TRUE about ZMOT?
A. ZMOT occurs on mobile phones and laptops.
B. ZMOT is just as likely to occur at home as in a store.
C. ZMOT represents buyers' remorse about a purchase.
D. ZMOT stands for Zero Moment of Truth.
E. ZMOT represents a moment when a consumer decides to buy.

C. ZMOT represents buyers' remorse about a purchase.

Which of the following is the theory that learning occurs based on past experiences and connections formed?
A. Hierarchy of needs
B. Observational learning
C. Psychographics
D. Top-of-mind awareness
E. Behavior learning

E. Behavior learning

Which of the following best offers marketers the possibility that consumers will pay attention to their messages?
A. Be sure to use expected stimuli rather than something unexpected
B. Offer little interpretation
C. Use short commercials to garner attention
D. Use small, well-places magazine and newspaper ads
E. Base the ad on a consumer's current needs

E. Base the ad on a consumer's current needs

Which of the following defines microcultures?
A. Groups that coexists with other groups in a larger culture
B. Ethnic groups that identify with their heritage
C. Groups within a society whose members share a distinctive set of beliefs
D. Groups of consumers who identify with a specific activity or art form
E. Groups with similar values, beliefs, customs, and tastes

D. Groups of consumers who identify with a specific activity or art form

Who are the people who easily influence other's attitudes or behaviors based on perceived expertise or knowledge about a
product?
A. Reference groups
B. Producers
C. Mass class leaders
D. Opinion leaders
E. Commercial endorsers

D. Opinion leaders

Organizational markets is another name for _____.
A. single-sourcing markets
B. resellers
C. outsourcing
D. government markets
E. business-to-business markets

E. business-to-business markets

When the demand for goods in a business is based on consumer demand for what is produced, the organization is operating based on _____.
A. organizational markets
B. derived demand
C. B2B demand
D. geographic concentration
E. limited-term relationships

B. derived demand

Which buyclass framework occurs when a company chooses to shop around for suppliers with, perhaps, a better price structure?
A. Customer reference program
B. Modified rebuy
C. Product specification buy
D. Procurement buy
E. Straight rebuy

B. Modified rebuy

If a firm needs specialized product or frequent deliveries of products, what type of supplier relationship should be pursued?
A. Single sourcing
B. Modified rebuying
C. Multiple sourcing
D. Reciprocity
E. Offshoring

A. Single sourcing

Which of the following refers to a systematic tracking of consumers' preferences and behaviors over time in order to tailor
the value proposition as closely as possible to each individual's unique wants and needs?
A. One-to-one marketing
B. Customer equity
C. Customer relationship management (CRM)
D. Share of customer
E. Touchpoint

Customer relationships management (CRM)

Which of the following utilizes the four steps of identifying, differentiating, interacting, and customizing to facilitate a relationship with consumers?
A. Touchpoints
B. Share of customer
C. Customer equity
D. One-to-one marketing
E. Marketing automation

One-to-one marketing

Which of the following terms refers to any direct interface between customers and a company (online, by phone, or in person)?
A. Customer equity
B. Touchpoint
C. One-to-one marketing
D. Customer relationship management (CRM)
E. Share of customer

Touchpoint

Which of the following refers to the percentage of an individual customer's purchase of a product over time within a single brand?
A. Lifetime value of a customer
B. Data mining
C. Customer equity
D. Share of customer
E. Cost per impression

Share of customer

According to customer lifetime value, why is it better to retain an existing customer than to acquire a new one?
A. Costs are higher and profits are lower if every customer is a first time customer.
B. Costs are lower and profits are higher if every customer is a first-time customer.
C. Costs are lower and profits are lower if every customer is a first-time customer.
D. Costs and profits will remain the same regardless if a customer is a first-time customer or not.
E. Costs are higher and profits are higher if every customer is a first-time customer.

Costs are higher and profits are lower if every customer is a first-time customer