Marketing Midterm (CH. 1-9)

Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be ________ segmentation

Which type of market buys goods and services for further processing or for use in the production process?

With an expected increase in minority ethnic populations, marketers are likely to place a greater emphasis on ________.

Workers, managers, and members of the board of directors are all part of a company's ________.

You are directed to study the factors that are larger societal forces that affect your company–demographic, economic, natural, technological, political, and cultural. What are you studying?

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?

When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________.

What are the four steps, in order, to designing a customer-driven marketing strategy?

Through market segmentation, companies divide large, heterogeneous markets into smaller segments that can be reached more ________ with products and services that match their unique needs.

Even though several options are available at any one time, there ________ to segment a market.

Pendergraff Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation does Pendergraff use?

"Less-for-much-less" positioning involves meeting consumers' ________.

A product's position is based on important attributes as perceived by ________.

Ad man Rosser Reeves believes that firms should develop a USP for each brand and stick to it. What does USP stand for?

Brown's Pet Supplies divides the pet market according to the owners' race, occupation, income, and family life cycle. What type of segmentation does Brown use?

By studying its less loyal buyers, a company can detect which brands are most ________ with its own.

Consumer and business marketers use many of the same variables to segment markets. In addition, business marketers use all of the following except which of the following?

Demographic variables are so frequently used in market segmentation because they ________.

Developing a strong position within several market segments creates more total sales than ________ marketing across all segments.

International Drilling Company segments its foreign markets by their overall level of economic development. This firm segments on what basis?

Jay Bee Promotions tailors its advertising and promotional services to the needs and preferences of individual customers. Which of the following does not apply to this type of marketing?

Many marketers believe that ________ variables are the best starting point for building marketing segments.

Marketers must be careful to guard against ________ when using age and life cycle segmentation.

Markets can be segmented into group of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.

Niche marketing offers smaller companies the opportunity to compete by focusing their limited resources on serving niches that may be ________ or ________ larger companies.

Once it has chosen a position, a company must take strong steps to deliver and communicate the desired position to target consumers. Which step is not correct?

Sanguine Services practices a marketing strategy where its limited resources are used to go after a large share of two small niches. Sanguine practices which one of these strategies?

Shampoo marketers rate buyers as light, medium, or heavy product users. This is ________ segmentation.

The 55-year-old baby boomers share common needs in music and performers. When a music company decides to serve this group, the group is called a(n) ________.

What competitive positioning strategy can attack a more-for-more strategy by introducing a brand offering with comparable quality but at a lower price?

When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs, it is following ________.

When a company identifies the parts of the market it can serve best and most profitably, it is practicing ________.

When competitors use differentiated or concentrated marketing, ________ marketing can be disastrous.

When the size, purchasing power, and profiles of market segments can be determined, they possess the requirement of being ________.

Which of the following is the narrowest strategy?

Which of the segmenting strategies carries higher-than-average risks in consumer markets?

Which one of the listed choices is not a positioning task?

Which type of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance?

Which type of statement first states the product's membership in a category and then shows its point-of-difference from other members of the category?

With concentrated marketing, the marketer goes after a ________ share of ________.

You have discovered that effective programs can be designed for attracting and serving your chosen segments. This segmenting requirement is called ________.

You have just created the "perfect" ad. It communicates the full mix of benefits upon which the brand is positioned. This full positioning is called ________.

________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.

________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.

________ are those products purchased for further processing or for use in conducting a business.

________ contributes to a product's usefulness as well as to its looks.

________ involves designing and producing the container or wrapper for a product.

________ is an approach in which all the company's people are involved in constantly improving the products, services, and business processes.

________ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society.

________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought.

________ occurs when two established brand names of different companies are used on the same product.

A ________ involves the use of a successful brand name to launch new or modified products in a new category.

A clothing marketer is planning to launch an existing brand name into a new product category. Which brand development strategy is being implemented?

A company can increase its business in four ways. Which is not one of these ways?

A key element in a company's relationship with consumers, a ________ represents consumers' perceptions and feelings about a product and its performance.

Advertising campaigns can help to create name recognition, brand knowledge, and maybe even some brand preference. However, brands are not maintained by advertising but by the ________.

An increasing number of retailers and wholesalers have created their own ________, also called store brands.

At the very least, the ________ identifies the product or brand. It might also describe several things about the product.

Because service quality depends on the quality of buyer-seller interaction during the service encounter, service marketers use ________ to train employees in the art of interacting with customers to satisfy their needs.

Developing a product or service involves defining the benefits that it will offer. These benefits are communicated and delivered by ________ such as quality, features, and style and design.

Gina's Nail Salon is serious about pleasing its customers. Employees are trained to immediately and pleasantly respond to any customer complaints, and they are empowered to offer discounts and free add-ons to customers who believe they have received anything less than the best service. Gina's Nail Salon focuses on ________.

Maheu Piano Company can expand its product line in one of two common ways. Which of the following is one of the ways that might prove productive?

Many companies now use a combination of phone, e-mail, fax, Internet, and other technologies to provide ________.

Paper, pencils, lubricants, paint, nails, and brooms are examples of ________.

Product is a key element in ________. At one extreme, it may consist of pure tangible goods or at the other extreme, pure services.

Product mix ________ refers to the number of different product lines the company carries. Procter & Gamble markets around 250 brands organized into many product lines.

Product planners must design the actual product and find ways to ________ it in order to create the bundle of benefits that will create the most customer value.

Product planners need to think about products and services on three levels. The most basic level is the ________, which addresses the question, "What is the buyer really buying?"

The fundamental asset underlying brand equity is ________–the value of the customer relationships that the brand creates. A powerful brand is important, but what it really represents is a set of loyal consumers.

The strongest brands go beyond attributes or benefit positioning; they are positioned on ________.

We define a ________ as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

When a company lengthens its product line beyond its current range, it is ________.

Which of the following does not belong to the materials and parts group of industrial products?

Which of the following is not one of the links in the service-profit chain, linking service firm profits with employee and customer satisfaction?

Which of the following is an advantage offered by co-branding?

Which of the following types of quality refers to freedom from defects and consistency in delivering a targeted level of performance?

Which type of strategy involves weeding out weaker brands and focusing marketing expenditure only on brands that can achieve the number-one or number-two market share positions in their categories?

________ is a new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage.

A detailed version of a new idea stated in meaningful customer terms is called a ________.

A manufacturer with a product in the decline stage of the product life cycle might decide to ________ if it has reason to hope that competitors will leave the industry.

After concept testing, a firm would engage in which stage in developing and marketing a new product?

An attractive idea must be developed into a ________.

During which stage of new-product development is management most likely to estimate minimum and maximum sales to assess the range of risk in launching a new product?

Executives, manufacturing employees, and salespeople are all examples of ________.

GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ________ , to arrive at a realistic number to adopt.

In the ________ stage of new-product development, products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.

In the ________ stage, the firm faces a trade-off between high market share and high current profit.

In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.

In which stage of the PLC will promotional expenditures be high in an attempt to react to increasing competition?

Increasing profits will most likely occur at which stage of the PLC?

Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.

Most products in the marketplace are in the ________ stage of the product life cycle.

Sales decline in the decline stage of the PLC because of technological advances, increased competition, and ________.

Schmidt Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Even though test market results look promising, what will be management's next step?

The advantages of standardizing an international product include all of the following except ________.

The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers.

The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.

The PLC concept can be applied by marketers as a useful framework for describing how ________.

The search for new-product ideas should be ________ rather than haphazard.

The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year.

The team-based new-product development approach is faster because departments work closely together through _______.

Under what circumstances might it be wise for a company to do little or no test marketing?

Which of the following cannot be described by the PLC concept?

What are the two ways that a company can obtain new products?

Which of the following cannot be described by the PLC concept?

Which of the following costs is most likely associated with the commercialization stage of new-product development?

Which of the following is perhaps the most important external source of new-product ideas?

Which of the following is not a potential cause of the failure of a new product?

Which of the following is a disadvantage of a team-based approach to new-product development?

Which of the following is necessary for successful new-product development?

Your firm wants to use external sources for new product ideas. After consulting with a friend you learn that all of the following are common external sources except ________.

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?

SWOT analysis is an integral part of the first stage of the market​ process, which is analysis. The parts of the SWOT analysis that apply to external elements​ are___________ and​ __________.

If a firm like​ McDonald's wanted to expand its business by acquiring a company such as Chevron gas​ stations, it would be realizing growth through​ ____________.

With four categories of SBUs and products arrayed on the Boston Consulting Group​ share-growth matrix, the manager needs to determine how to manage each of them. If the firm decides to take​ short-term cash flow from the brand or​ SBU, despite​ long-term consequences, it is said to be in the​ ____________ mode.

An example of a value proposition is best illustrated as which of the​ following?

Market offerings to which the marketing process applies include​ _________.

One of the many elements of partner relationship management that deals with outside partners in the channels of distribution from raw materials to delivering goods to the final consumer is​ ______________________.

€‹_____________ marketing is perhaps the​ fastest-growing digital marketing platform. It is ideal for engaging customers anytime and anywhere as they move through the buying process.

In the process of developing marketing​ strategy, one of the two critical questions the manager must ask​ is, "What customers will we serve​ (what's our target​ market)?" Which of the following is the other​ question?

After determining the​ market-oriented mission, what is the next step in the process of strategic​ planning?

The​ growth-share matrix defines four types of SBUs. The​ low-growth, high-share business or​ products, classified as​ _________, typically need less investment to hold their market share.​ Generally, they produce a lot of the cash that the company uses to pay its bills and support other SBUs that need investment.

As part of the​ microenvironment, ________ form an important link in the​ company's overall customer value delivery network. They provide the resources needed by the company to produce its goods and services.

Generation​ Y, or echo​ boomers, are also known as​ ________. They are the portion of the population that was born between 1977 and 2000.

Marketing​ managers, overloaded with data and often overwhelmed by​ it, face the issue of​ ________, which​ refer(s) to the huge and complex data sets generated by​ today's sophisticated information technologies.

€‹________ is the first step in the marketing research process.

One advantage to using internal databases for information is that​ ________.

According to the​ text, two major public policy and ethical issues in marketing research are​ ________.

Companies use​ ________ to sift through large amounts of big data and dig out interesting findings relevant to creating customer value.

Which of the following is true of environmental​ sustainability?

A firm can be proactive by ______.

One result of changes in​ people's views of nature is​ ________.

Many small groups have a direct influence on a​ consumer's behavior. When one is not a member of the group but imagines he is a member of the group to which he wants to​ belong, it is considered​ a(n) ________ group.

In the buying​ center, which role is responsible for controlling the flow of information and might include secretaries and technical​ staff?

During supplier​ selection, members of the buying center review the proposals and select a supplier or suppliers.​ Additionally, which of the following is a task that takes place during supplier​ selection?

Although the Internet makes it possible for suppliers and customers to share business data and even collaborate on product​ design, there are some inherent problems associated with it. How does it present a​ problem?

In the business​ market, a typical car manufacturer incorporates a sound​ system, which might be purchased from Pioneer. When the consumer buys the​ car, the Pioneer sound system is already installed and Pioneer relies on auto manufacturers for much of its sales. These interrelated​ markets, driven by​ consumers, are described as​ ________ demand.

Perception is the process by which people​ select, organize, and interpret information to form a meaningful picture of the world. Consumers can form different perceptions of the same stimulus because of several perceptual processes including selective attention. Which of the following is an example of selective​ attention?

What determines whether a buyer is satisfied or dissatisfied with a​ purchase?

Soda Stream is an innovation in soft drinks that enables consumers to create their own sodas at home with purchased​ syrup, tap​ water, and a carbonation device. To increase the adoption​ rate, the firm is advised to present the relative advantage. How would the relative advantage of Soda Stream be​ described?

Siemens Corporation is selling an Argentinean manufacturer a​ $2 million turbine engine. In the process of this​ sale, which one of the following factors should Siemens​ avoid?

Each culture contains smaller groups of people with shared value systems based on common life experiences and situations. These smaller​ groups, identified as​ ________, include​ nationalities, religions, racial​ groups, and geographic regions. They often make up important market segments.

According to the five-step model of the marketing process, which of the following is the final step in creating value for customers?

As discussed in class, Dunkin’ Donuts, a popular U.S. Coffee shop chain, plans to open 400 additional stores to cater to its growing number of patrons across the country. This exemplifies ________.

Millennials represent a smaller demographic segment than the baby boomers but a larger demographic segment than the Gen Xers.

Which of the following is an advantage of telephone interviews?

Mandy and Jason wanted to buy a luxury condo. They viewed a YouTube video for a particular condo that highlighted the cost, design, location, and size of the condo. After viewing the ad, Mandy felt that the condo’s price was acceptable, considering the superior design and prime location. Jason thought that the condo was overpriced considering its small size. Both used the information in different ways, focusing on issues that that each considered important. Which of the following concepts does this scenario demonstrate?

The benefits of e-procurement include access to new suppliers, lower purchasing costs, and more time-efficient order processing and delivery.

Luxury brands such as Chanel, Porsche, and Rolex tend to use ________ positioning.

Product mix ________ refers to the number of versions offered for each product in the line.

Which of the following is the main goal of the team-based new product development approach when it uses cross-functional teams that overlap the steps in the process?

Over the past 50 years, which of the following groups of workers has become smaller?

A company's marketing environment includes various ________ that are made up of groups that have an actual or potential interest in, or impact on, an organization's ability to achieve its objectives.

A country with a(n) ________ economy consumes most of is own agricultural and industrial outputs and offers few market opportunities.

A radio station that carries news, features, and editorial opinions about your area is which type of public?

A society's ________ are expressed in how people view themselves, organizations, society, nature, and the universe.

A society's basic values, perceptions, preferences, and behaviors are all part of its ________ environment.

All of the groups within a company are called the ________.

As marketing manager for Laser Industries, you should be aware that legislation affecting business around the world will continue to ________.

Banks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________.

Currently, Diego Calabresa is employed by a firm that conducts marketing research and creates ads for other companies that help them target and promote their products to the right markets. Who is Diego's employer?

Europeans are very mobile. In the early years of 21st century there was a net migration towards the ________ member states of the EU.

Marketers can take a(n) ________ by taking positive action to affect the publics and forces in their marketing environments.

Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is the ________ environment.

Research has shown that the most important demographic trend in Europe is the ________.

The diversity segment of ________ is expected to grow as a result of the aging baby boomer population.

The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.

The primary concern with the boom in e-commerce and Internet marketing is ________.

The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of ________ and ________.

Which demographic group has a relatively cautious economic outlook, cares about the environment, and responds favorably to socially responsible companies?

Which demographic group has created large tween and teen markets?

Which demographic group is characterized by a total fluency and comfort with computer, digital, and Internet technology?

Question 22. Which of the following demographic groups has not seen a percentage increase in the past 50 years?

Which of the following groups of expenses uses up most household income?

Which of the following represents the most dramatic force shaping a modern marketer's destiny?

Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?