Principles of Marketing Melissa Moore test 2

Which of the following consists of groups of individuals with shared value systems based on common life experiences and situations?

Subcultures

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

Family

People within a reference group that have the ability to influence others are known as ___________.

Opinion leaders

Marketers of brands understand that they must figure out how to reach __________ that can exert social influence on others.

Opinion leaders

When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ___________.

Generating person-to-person brand conversations

According to Maslow's hierarchy, which of the following needs would a person seek to satisfy after meeting their physiological needs?

Protection

What is the third stage of the buyer decision process?

Alternative evaluation

Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer websites, packaging, and displays?

Commercial sources

____________ determines if a buyer is satisfied or dissatisfied with a purchase.

The relationship between the consumer's expectations and the product's perceived performance

The customer journey concept ___________

takes a holistic view of all the experiences a consumer has with a brand.

Which of the following is the second stage of consumer process they engage in when adopting a new product?

Interest

__________ refers to the degree to which an innovation appears superior to other products.

Relative advantage

Which adopter group is comprised of opinion leaders that carefully consider new ideas and products prior to purchasing?

Early adopters

Which of the following are tradition-bound, suspicious of changes, and adopt the innovation only when it has become something of a tradition itself?

Lagging adopters

Consumers go through five stages in the process of adopting a new product. In the __________ stage, the consumer considers whether trying the new product makes sense

Evaluation

A _______ occurs when a buyer wants to make changes to product specifications, terms, supplier, or prices.

modified rebuy

Technological, political, and competitive influences are categorized as which type of major influence on business buyer decision?

Environmental

_______ demand is the term used for business demand that ultimately comes from the demand for consumer goods.

Derived

__________ consists of many different people who play multiple roles in the buying process.

The buying center

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in the process?

Problem recognition

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the fourth stage in this process?

Supplier search

The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the final stage in this process?

Performance review

Which of the following is NOT one of the typical advantages of e-procurement systems?

Improving customer-supplier relationships

________ is one problem with business-to-business e-procurement

Suppliers being pitted against one another

All of the following are uses of artifical intellingence (AI) in B-to-B marketing EXCEPT ___________.

AI is used to identify demographic variables to help target markets better.

Dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies is known as _______

Market segmenting

Which of the following describes the process of evaluating each market segment's attractiveness and selecting one or more segments to serve?

Market targeting

____________ involves framing a market offering to occupy a clear, distinctive, and desirable place in the minds of target consumers-- one that is not occupied by competing products

Positioning

Campbell's advertises its soups more heavily during the wintertime. What type of segmentation is Campbell's using

Occasion segmentation

Through its mobile Whopper detour promotion, Burger King offered discounted Whoppers to people close to a competing McDonald's restaurant. This is an example of which of the following?

Hyperlocal social marketing

H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward high-end exotic-vehicle collectors with ample leisure time. H2Coast most likely segments the consumer market based on ____________ variables.

psychographic

Munoz Specialty Foods groups its customers by regions in the United States. For each region, Munoz creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market?

Geographic

____________ divides buyers into different segments based on lifestyle or personality characteristics

Psychographic segmentation

Kidcomp, an American computer-manufacturing firm, targets children younger than age 10 by providing free games and applications. The firm's marketing approach is reflective of _________ segmentation

age and life-cycle

____________ market segments are ones where it is possible to design a marketing program that will attract and serve the market segments.

Actionable

An __________ market segment refers to one that marketers have the ability to effectively reach and serve

accessible

At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working middle class. What is this segmentation method called?

Psychographic

In 2015 Target eliminated its "pink" and "blue" aisles, and it now sells lines such as a collection of back-to-school clothing, accessories, backpacks, and bedding that appeals to both boys and girls. This is an example of which type of marketing?

Gender-neutral

Firms that manufacture luxury products and services target their consumers primarily through ________ segmentation.

income

The marketing manager at Bridal Creations targets customers who recently got engaged. Bridal Creations' approach is best referred to as ________ segmentation.

user status

Which of the following would make a segment less attractive to enter?

New entrants finding it easy to enter the segment

When a company engages in ________marketing it ignores market segment differences and targets the whole market with one offer.

Mass

Which type of market-coverage strategy involves targeting several market segments and designing separate offers for each?

Differentiated marketing

Which of the following terms refers to a marketing strategy focused on gaining a larger share of a small market segment?

Niche marketing

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

Children

A manufacturer of half-ton pickup trucks creates a positioning map for the U.S. half-ton pickup market. The position of each circle on the map indicates the brand's perceived positioning on two dimensions: price and orientation (economy versus performance). The size of each circle indicates the brand's relative market share. This is an example of a __________.

perceptual positioning map

The UPS Store prides itself on having cheerful, and friendly staff that offer a hassle-free and speedy way to ship packages. This exemplifies ________ differentiation.

services

Home Depot initially had a better product selection, better service, and lower prices relative to the local hardware store. What type of positioning strategy did Home Depot use?

More for less

Altoids sells "Mints so strong they come in a metal box." What point of differentiation is this?

Packaging differentiation

If competitors do not offer a product with a unique difference, that benefit is said to be _________.

distinctive

Which of the following correctly defines a product?

A product is anything offered to a market that might satisfy a need or want

All of the following are services EXCEPT _________.

toothpaste

Which of the following is a bundle of products and services designed to solve customers' problems?

Customer solutions

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

The desire to have beautiful nails

Which type of consumer products and services are frequently purchased with low customer involvement and minimal comparison and buying effort?

Convenience products

Which of the following types of products have brand identifications or unique characteristics that make customers willing to put more effort into making the purchase?

Specialty

Product mix width refers to ________.

the number of different product lines the company carries

To deliver high-quality service at a reasonable cost, many service firms have followed the lead of manufacturing firms and joined the __________ movement.

customer-driven quality

Which of the following simply describes a product's appearance?

Style

Which of the following statements regarding the important decisions in the development and marketing of individual products is correct?

Product attributes that communicate and deliver benefits to the consumer include quality, features, and style and design.

Adding new products to an existing product line is known as ________.

product line filling

The three functions of __________ include identifying, describing, and promoting the product.

labeling

Service quality differs based on the provider as well as when, where, and how they are provided. Which characteristic of services does this describe?

Variability

Service _________ means that services cannot be split apart from their providers, whether the providers are people or machines.

inseparability

Which link in the service profit chain involves keeping workers happy and content?

Satisfied and productive employees

A service firm must orient and motivate its customer-contact employees and supporting service people to work as a team to provide customer satisfaction. This process is known as ___________.

internal marketing

________ marketing means that service quality depends heavily on the quality of the

buyer

dash

seller

interaction during the service encounter.

Interactive

Which of the following statements about service marketing is correct?

Training current employees better and hiring new ones with more skills can increase service productivity.

Branding company BAVGROUP's BrandAsset Valuator measures brand strength along four consumer perception dimensions. Brand ________ refers to how highly customers regard and respect the brand.

esteem

________ is the differential effect that knowing the brand name has on customer response to the product and its marketing.

Brand equity

Kroger, headquartered in Cincinnati, Ohio, is one of the nation's largest grocery chains. It owns several brands sold in its stores, including Private Selection, Heritage Farm, and Simple. These brands represent which type of brand sponsorship?

Private brands

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

Licensing

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

Line extension

Which of the following offers a way to establish different features that appeal to different customer segments, lock up more reseller shelf space, and capture a larger market share?

Multibranding

Which of the following involves branding items that were historically viewed as undifferentiated commodities?

Commodity branding

To create successful new products, a company must _______.

understand its consumers, markets, and competitors and develop products that deliver superior value to customers

A company can obtain new products by buying a whole company, a patent, or a license to produce someone else's product through _________.

acquisition

Which of the following statements about new product development strategy is correct?

Innovation can be very expensive and risky

What percentage of the estimated 30,000 new products launched each year fails?

95%

________ represent an external source of new product ideas for a company.

Distributors

Goldtone 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, Goldtone is using ________ to generate new product ideas.

Crowdsourcing

Which of the following refers to a program that encourages employees to develop new product ideas?

Intrapreneurship

________ is the step of the new product development process during which a review of the sales, costs, and profit projections for a new product is conducted to determine whether the new product is likely to satisfy the company's objectives.

Business analysis

Food container giant Tupperware recently sponsored the Clever Container Challenge, a contest seeking ideas for integrating Internet of Things technologies into food containers for future smart kitchens. This is an example of _________.

crowdsourcing

New product commercialization takes much thought and planning. The second step in the commercialization process is to __________.

decide where to launch

Sometimes a few company departments work to complete each stage of the process before passing the new product project along to the next stage. This represents a(n) __________ approach to new product development.

sequential

Intuit Labs, a division of Intuit, the accounting and payroll software developer, follows a "Design for Delight (D4D)" development philosophy, which states that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit using?

customer-centered new product development

Which is the first stage of the product life cycle?

Product development

When Dr. Lawncare developed his revolutionary new solar-powered lawnmower, he expected that during the introduction stage of the product life cycle __________.

the company would see negative profits

Which stage of the product life cycle is characterized by rapid market acceptance and increasing profits?

Growth

The PLC concept also can be applied to what are known as styles, fashions, and fads. A ________ is a currently accepted or popular ________ in a given field.

fashion; style

When a product is in the maturity stage of the PLC, the company might try to increase consumption by offering new or improved services to buyers. This attempt to increase consumption is known as ___________.

modifying the marketing mix

Which of the following refers to a basic and distinctive mode of expression?

A style

During which stage of the PLC do firms decide whether to maintain, harvest, or drop products?

Decline

Which of the following statements is true regarding product life cycle curves?

The sales of a typical product follow an S-shaped curve made up of five stages.

__________ protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

Product stewards

Which of the following statements regarding socially responsible product decisions is correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.

Which of the following concerns is NOT one that marketers need to focus on with respect to social responsibility?

Financing decisions

Product stewards should develop and maintain products that not only create profits for the company but also create value for customers and value chain partners _________.

In a sustainable way

Which of the following is part of a product steward's responsibility?

Protect consumers from harm