53 terms

marketing final part 3 of 4

Which of the following is NOT one of the four criteria used for determining how "good" a brand is?
Brand conceptualization.
If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable:
For marketers, one of the benefits of having achieved brand loyalty is:
lower marketing costs associated with reaching loyal customers.
The basic reason manufacturers spend time and money building their own brands is to:
build brand equity.
Brands that are owned by ___________ are called private-label brands.
Brian was working on the floor of a chain electronics store trying to help a confused customer. The customer said, "The television sets look the same, but the model numbers are different and this one is more expensive." Brian explained it was made specifically for his store. This is an example of a specific type of private-label brand, called a:
exclusive co-brand.
Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company--Procter & Gamble. Old Spice and Iams are known as _____________.
individual brands
When Procter & Gamble added teeth whitening products under the Crest brand, the firm was engaged in:
brand extension.
The potential benefits of brand extension include:
all of these
Brand dilution occurs when:
all of these
________________ is the process by which ideas are transformed into new products and services that will help firms grow.
By adding new product lines beyond its core business of computer software, like the Zune MP3 player and XBox 360 game system, Microsoft primarily benefits by:
creating diversification and reducing risk.
Motorola was a pioneer in developing cell phone technology, but their early phones weighed several pounds and required frequent recharging. As a pioneer, Motorola:
all of these
The process by which the use of a new product or service spreads throughout a market group is referred to as:
diffusion of innovation.
The ________________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.
early majority
The diffusion of innovation theory is useful to marketers in helping them:
predict which types of customers will buy their product immediately and later.
Early personal computer users remember the cumbersome, user-unfriendly "DOS" system. When Apple introduced System 1 and Microsoft introduced Windows, both of which were much easier to use, these new products diffused rapidly because of their:
relative advantage.
Which of the following is LEAST likely to be a source of ideas for new products?
Geodemographic segmentation
Between concept testing and market testing, a firm should engage in which stage of the product development process?
product development
Which of the following industries tend to use R&D departments as a significant source of new product ideas?
all of these
R&D consortia often include:
all of these
___________________ involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor's patents.
Reverse engineering
Biotechnology companies often conduct internal R&D efforts but do not bring new products to market. Instead, new biotechnology products come to market through:
licensing technology.
When McDonalds comes up with a new drink or sandwich for its fast food stores, they often market it in a dozen or so of their outlets. When they do this, they are engaged in:
test marketing
The __________________ step in the product development process is critical because it requires tremendous resources and extensive coordination of all aspects of the marketing mix.
product launch
During the _____________ stage of the product life cycle, sales peak and profits begin to decline as competition becomes intense.
Which of the following is the correct sequence of new product adopters in the Diffusion of Innovation Curve?
Innovators, Early adopters, Early majority, Late majority, Laggards
Many product dominant firms use quality service:
to maintain a sustainable competitive advantage.
The marketing of services differs from product marketing because services are:
all of these
Because services are ____________, it is often difficult for marketers to convey the benefits to consumers.
Because services like airline flights and hotel beds are _________, many marketers attempt to match demand with supply using pricing strategies.
The Gaps Model is designed to highlight those areas where:
customers believe they are getting less or poorer service than they should.
When the delivery of a service fails to meet customers' expectations, a ______________ gap exists.
Firms can close a ________________ gap by being more realistic about the services they can provide and managing customer expectations.
Which of the following is NOT one of the five dimensions used by consumers to determine overall service quality?
Because services are intangible, it is often difficult for customers to determine how a service meets their expectations, which marketers call ________________________.
service quality
Bank of America uses a complex polling system coupled with a customer response measurement system to assess consumers' responses to new products and services. Bank of America is using a(n) __________________ program to improve service quality and service offerings.
The concept of ______________ refers to the area between customers' expectations regarding desired service and their minimum levels of acceptable service.
the zone of tolerance
An excellent, inexpensive, and readily accessible method for assessing customers' service expectations is:
customer complaints.
_________________ means allowing employees to make decisions about how service is provided to customers.
Service providers often encounter rude and unreasonable consumers. Services marketing managers can reduce the delivery gap, even for these customers by:
providing support and incentives for their employees.
Service employees on the front line often face difficulties when dealing with customers. Marketing managers can help address these difficulties by:
all of these
When confronted with an angry and emotional customer, the best first step toward service recovery is to:
listen carefully and with empathy until the customer feels he or she has been heard.
When travelers are bumped from overbooked flights, they are frequently offered vouchers good for future travel. The dollar value of the voucher is the airline's estimate of:
distributive fairness.
Cost-based pricing assumes costs:
will not vary much for different levels of production.
Firms using a ____________ pricing method set their prices relative to what other firms are charging.
Value-based pricing methods include approaches to setting prices that focus on the overall value of the product offering:
as perceived by the consumer.
In determining the price for his company's new personal computer photography printer, Raymond is assessing the total cost of owning his printer as compared to alternative products available in the market. Raymond is using _______________ pricing.
cost of ownership
One of the difficulties associated with value-based pricing is that:
it necessitates a great deal of consumer research to be implemented successfully.
In a ______________________ pricing strategy, marketers rely on the promotion of sales, during which prices are temporarily reduced to encourage purchases.
One of the problems associated with an everyday low pricing (EDLP) strategy is that:
some consumers may associate EDLP with lower quality goods.
Developing pricing strategies for __________________ is one of the most challenging tasks a manager can undertake.
new products
A ____________ package is the one a consumer uses. A _____________ package is used by retailers to display and sell the product.