50 terms


need recognition
the buying process starts with ______, in which the buyer recognizes a problem or need.
new-product development and acquisition
what are the two ways that a company can obtain new products?
idea screening
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.
undifferentiated marketing
Mass marketers, such as Target and Venture Stores, often ignore market segment differences and target the whole market with on offer. What is their approach to segmenting?
when to time the new product information
A company getting ready to launch a new product must make several decisions. The company must first decide on _______.
idea generation
New product development starts with _______.
A ______ is a name, term, sign, symbol, design, or a combination of these, that identifies that maker or seller of a product or service.
Marketers of automobiles, financial services, and travel are most likely to use which of the following types of segmentation?
market targeting
When a company identifies the parts of the market it can serve best and most profitable, it is practicing ______.
Which of the following is perhaps the most important external source of new-product ideas?
mass customizing
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 ______.
augmented product
The third level of a product planners must build is a _____ around the core benefit and actual product that offers additional consumer services and benefits.
Social classes
______ are society's relatively permanent and ordered divisions whose member share similar values, interests, and behaviors.
vulnerable or disadvantaged; controversial or potentially harmful
Target marketing sometimes generates controversy and concern. Issues usually involve the targeting of ______ consumers with ______ products.
Consumer buying behavior
______ is never simple, yet understanding it is the essential task of marketing management.
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?
internal sources for new-product ideas
Executives, manufacturing employees, and salespeople are all examples of _______.
involves designing and producing the container or wrapper for a product.
age and life-cycle stage
People change the goods and services they buy over time because of the two changing factors of ______.
Marketers must be careful to guard against ______ when using age and life cycle segmentation.
When a market segment is large or profitable enough to serve, it is termed ______.
Marketing stimuli consists of the four P's. Which is not one of the P's?
target market
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 ______.
Total quality management
is an approach in which all the company's people are involved in constantly improving the products, services, and business processes.
the market offering
Product is a key element in _______. At one extreme, it may consist of pure tangible goods or at the other extreme, pure services.
economic factors
International Drilling Company segments its foreign markets by their overall level of economic development. This firm segments on what basis?
Unsought products
_______ are consumer products that the consumer either does not know about or knows about but does not normally think about buying. These products require a lot of advertising, personal selling and other marketing efforts.
product development
Once the product or service passes the business analysis test, it moves into what stage?
human needs
Maslow's theory is that ______ are arranged in a hierarchy from the most pressing at the bottom to the least pressing at the top.
are comparatively easy to measure
Demographic variables are so frequently used in market segmentation because they _______.
industrial products
Products and services fall into two broad classes based on the types of consumers that use them. Which of the following is one of these broad classes?
economic environment
Which is not a part of the buyer's black box?
It is considered socially irresponsible when the marketing of adult products spills over into the ______ segment.
number of children in the family
What is one way that a social class is not measured?
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.
Shopping products
_______ are less frequently purchased consumer products and services that customers can compare carefully on suitability, quality, price and style. Consumers spend much time and effort in gathering information and making comparisons about these products.
When the size, purchasing power, and profiles of market segments can be determines, they possess the requirement of being ______.
Asian Americans
_______, the most affluent U.S. demographic subculture, now have more than $400 billion in annual spending power.
Increasing profits will most likely occur at which stage of the PLC?
customers, competitors, and markets; superior value
The creation of a successful new product depends on a company's understanding of its ______ and its ability to deliver ______ to customers.
unimportant to; overlooked by
Niche marketing offers smaller companies the opportunity to compete by focusing their limited resources on serving niches that may be ______ or ______ larget companies.
core benefit
Product planners need to think about products and services and on three levels. The most basic level is the ______, which addresses the question, "What is the buyer really buying?"
_______ is the most basic cause of a person's wants and behavior.
Consumer products
_______ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specially products, and unsought products.
Mature consumers
______ are becoming a very attractive market: they are the ideal market for exotic travel, restaurants, high-tech home entertainment products, leisure goods and services, and designer furniture and fashions.
social networks
Facebook.com and Myspace.com are examples of ______.
______ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
social marketing
Public health campaigns to reduce smoking, alcoholism, drug abuse, and overeating are all examples of ______.
product concept
A detailed version of a new idea stated in meaningful customer terms is called a ______.
business analysis
A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a _______.