Prequels (7,8,9)
CHAPTER 7
________ are those individuals who spend a big chunk of their time online. And because they spend so much time online, they expect brands to engage them in two-way digital conversations.
Digital Natives
________ is a strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to try to turn them into customers.
Targeting
Which generation has a cynical attitude toward marketing that was reflected in the chapter title "I Am Not a Target Market!" in a famous book?
Generation X
________ is the concept in segmentation that can help marketers determine how to better match different products and versions of products to different consumer groups based on an understanding of what discretionary and non-discretionary allocations of funds they are able to make
Buying Power
________ segmentation variables classify consumers on the basis of how they act toward, feel about, or use a product.
Behavioral
During tax season, you're likely to see more TurboTax ads on Google pages, even if you aren't searching for tax software. This is an example of ________ segmentation.
Usage Occasion
Some people want healthy cereal that will help them lose weight. Some want presweetened cereal. Some want fruits and nuts in their cereal. Some people want whole wheat cereal while others want rice cereal. There are some who like hot cereal and others who like to eat their cereal right out of the box. The diversity of consumers for cereal is an example of ________.
Market fragmentation
To market Suave shampoo, Unilever used PRIZM to identify neighborhoods with high concentrations of young working women. These women responded best to advertisements conveying the message that Suave is inexpensive, yet will make their hair "look like they spend a fortune on it." What segmentation tool did Unilever use in this example?
Geodemography
Because family needs and expenditures change over time, marketers may segment consumers by ________.
Family life cycle stage
A retailer that wants to target prospective grooms within six months of their marriage is using ________ segmentation to define its target market.
Family life cycle
When many men in the baby boomer segment started getting gray hair, they were reluctant to use hair dyes made for women even though they were just as eager as women to fight the aging process. To address this reluctance, hair care product manufacturers introduced hair dying systems for men to use both on their heads and their facial hair. These hair care product manufacturers used ________ segmentation to define their target markets.
Demographic
Mass marketers such as Walmart often ignore market segment differences and target the whole market with one offer. What is this approach to targeting?
Undifferentiated targeting
In the targeting marketing process, the step that follows segmentation is ________.
Targeting
CHAPTER 8
A product has three distinct layers. The second layer is the ________, which is the physical good or delivered service.
Actual Product
Diffusion refers to __________.
How the use of a product spreads throughout a population
What is the first process step in design thinking
Empathize
MRO products are goods that businesses use for ___________.
Maintenance, Repair, and Operating
________ is the process by which a consumer or business customer begins to buy and use a new good, service, or idea.
Product adoption
The ease of sampling a new product and its benefits is called ________.
Trialability
After the business analysis phase of the new product development process, a physical version of the product is typically developed. This is called a ________.
Prototype
________ is the extent to which a new product is consistent with existing cultural values, customs, and practices.
Compatibility
A fast-moving consumer good, also known as a(n) ________, is a low-cost good that people consume quickly and replace frequently.
Consumer packaged good
We consume ________ in the short term rather than the long term.
Nondurable goods
A(n) ________ is defined as a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process.
Oberservability
An innovation that creates a new market and value chain, disturbing the order of an existing market and value chain, is called a(n) ________.
Disruptive innovation
In most companies, ________ is a well-defined and systematic approach to innovation.
Research and development
What is the second phase of the new product development process?
Product concept development and screening
________ have unique characteristics that are important to buyers at almost any price.
Speciality products
A(n) ________ is defined as a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process.
Product
CHAPTER 9
________ seeks to inspire, guide, and motivate people with the goal of contributing to the consumer's way of life.
A lifestyle brand
There are numerous kinds of shampoo, including vitamin-enriched, fruit-enhanced, color-reviving, therapeutic, and so on. Shampoo that simply promises to clean hair, however, has seen declining sales, has little or no advertising, and has been phased out by most manufacturers. Shampoo that makes no other promise than to clean hair is in the ________ stage of its product life cycle.
Decline
A company has just one product line: it manufactures only supercomputers. This one product line is also the company's ________.
Product Mix
Which of the following would be information included in a UPC code?
The manufacturer of the product
Active Beverages targets the same people who watch the Gravity Games and enjoy skateboarding, in-line skating, mountain biking, and other extreme sports. It makes high-energy drinks for this target market. It does not attempt to make any drinks that are not targeted to this market. Active Beverages uses a(n) ________.
Limited line product strategy
Generic branding is one strategy to meet customers' demands for ________.
The lowest prices on standard products
In the ________ stage of the product life cycle, firms try to sell their product through as many outlets as possible because availability is crucial in a competitive market.
Growth
Practically every brand of soft drink ever made is available at Mom's Soda Shop; regional beverages from around the world can be purchased at the retailer's website. The retailer targets people who have developed a fondness for a particular soft drink and can no longer find it. The retailer's ________ is all types of soft drinks.
Product Mix
Which of the following is an accurate statement about product management?
It is a continual process
The J. M. Smucker Company makes jams, jellies, fruit spreads, and ice cream toppings. All of these products are sold using the Smucker's brand name. This company uses a(n) ________ strategy.
Family Brand
Kitchen dishcloths are often difficult to rinse clean and typically dry slowly. A company developed a disposable kitchen cloth that rinses easily and dries quickly. Because this is a new product to the market, it can be said to be in the ________ stage of its product life cycle.
Introduction
In which stage of the product life cycle will promotional expenditures be especially high in an attempt to create consumer awareness?
Introduction
"Tell to sell" has made a comeback as marketers seek to engage consumers with compelling stories rather than 30-second TV commercials. This exemplifies ________.
Brand storytelling
In addition to regular Alka-Seltzer, there is an Alka-Seltzer product for each of the following: cold sufferers, people with upset stomachs, people who can't sleep, people with allergies, and people who have severe headaches. The manufacturer of Alka-Seltzer is using a(n) ________ to reach as many different target markets as possible.
Full-line product strategy
Disney allowed a paint manufacturer to produce paint using the Disney brand name for a specific period of time. Disney paint is an example of ________.
Licensing
Brand anthropomorphism involves ________.
Attributing human characteristics and qualities to a brand
Whenever a product line or a product family is extended, there is a risk of ________, which occurs when sales of an existing brand decline as the firm's current customers switch to the new product.
Cannibalization
Oreos and Coke are both examples of ________.
National brands
Mattel teamed with Coca-Cola to market Soda Fountain Sweetheart Barbie. This is an example of ________.
Cobranding