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71 terms

Exam 2 Prep

STUDY
PLAY
Open Ended
"What is your reason for coming to Arkansas"- Tourism Board of Arkansas
Ethnographic
Study of the human behavior in its natural condition
Probability
Characterized by every element in population having known statistical likelihood of being selected
Random
Hospitals use random number table to select participants from list of patients who are currently in the hospital
Observation
Sporting goods-- Learning what peoples' attitudes, motivations, and feelings are about its product lines--Potential sources except:
Business Products
Paintings Direct--(online seller)--Sells to retailers, custom framing stores, and intermediairies-- Paintings Direct is selling?
Convenience Product
When buying a newspaper and notice aspirin and buy that as well. Aspirin is?
Wide Distribution of Product
Convenience product marketing strategy includes:
Shopping Product
Harrison wants a gas water heater-- He waits for it to come on sale-- This is called:
Specialty Product
Anasazi brand mountain climbing shoes (safest brand)--People who want to buy safest shoes will buy no other--Anasazi shoes are:
Concentrated Targeting
Selecting one segment of a market to target and focus on understanding needs, motivations, and satisfactions of members of that segment as well as developing highly specialized marketing mix
Multi-Segment Target
Stouffer's chooses to serve 2 well defined market segments (gourmet vs. lean cuisine_ and develop distinct marketing mixes, what strategy is used?
Perceptual Map
Cell Phone features-- low to high technological advancement and high entertainment to high utility to show products are perceived by customers
Product User
Coca Cola introduced Coke Zero in Great Britain in order to appeal to British men who don't drink diet soda because they consider them feminine beverages--"Bloke Coke"--Positioning strategy for men who don't drink diet
Descriptive Role
Atlanta Falcons use marketing research to gather information on poor attendance. They used in game surveys and end of season surveys of ticket holders. Gathering of factual statements is an example of marketing research in its:
Predictive Marketing Research
Through Marketing Research, Boston Symphony Orchestra learned it has an older market and isn't attracting young concert goers. They wanted to know if integrated ad campaign targeted to younger market would be successful. In its second use of research, BSO employed:
Marketing Research
Planning, collecting, and analyzing data relevant to marketing decision making. Results are communicated to management.
Descriptive, Diagnostic, and Predictive
3 functional roles for marketing research:
Primary Data
Pulte Homes, national builder, needs to control costs. Research shows 80% of homebuyers select the same countertops, floors, carpets, and toilets. This is:
Survey conducted by one's own firm to asses brand awareness
What's not an example of secondary data?
Distributed to only a few stores in the geographic area
When deciding on distribution plans for specialty products, companies generally ensure items are:
Product Line
There are a number of detergents marketed under the tide brand. (with and without fabric softener, bleach, various smells) Large variety is an example of:
Product Mix
Along with soft drinks, Cadbury Schweppes also market Dentyne guym, Sour Patch Kids, and Motts Apple Juice. This is a list of a company's:
Number of different product lines an organization offers to sell
Product mix width may be defined as:
Mixed Width
George Weston Limited-- Canadian food product and distribution company--Also owns and operates a pulp and paper company, Canadian Dairy, and sugar refinery organization provide Weston with Product:
Repositioning
Bazooka Gum has great brand awareness but stagnate sales. Research shows company that kids prefer softer bubble gum and Joe is considered out of date. Bazooka created softer gum and cooler Joe. Bazooka hopes through this____ to attract younger market.
All are true
What about planned Obsolescence is true?
Product Line Extension Strategy
Cover Girl and Revlon are lead manufacturers in cosmetics. They recently introduced cosmetics for "Over 50" women. Introduction of these cosmetic are examples of implementation of:
Product Line Contraction
Honda stopped making Honda Insight because it never caught on with buyers. This ___ will allow Honda to concentrate resources on more profitable vehicles.
Brand Mark
Symbol that can't be spoken in a brand:
Brand Equity
2004, Bazooka was among most recognizable brands in US even though gum needed some updating to be competitive in today's market. Manufacturer has carefully developed Bazooka name for over 50 years and was willing to make modifications in product because Bazooka has a valuable:
Global Brand
Brands where at least 20% of product is sold outside home country:
Help ensure repeat sales
Brand Loyalty can:
Manufacturers
Brand names used on Del Monte, Pillsbury, Harley Davidson, and Purina Products are called ____ brands because of who owns them.
Private
About one of every 2 fans sold in U.S. is Home Depot's Hampton Bay brand. Example of ____ brand.
Higher gross margins are available on private bonds
Which of the following statements describes an advantage to retailers associated with developing their own brands:
Family
When a company markets several products under the same brand name. This is referred to as ____ brand.
Individual Branding
Procter and Gamble Camay Soap for people concerned with soft skin and safeguard for those who want deodorant protection. Using _____ strategy
Ingredient Branding
Rosa's husband Phil has a cold-- Rose purchased Breathe Right nasal strips embedded with Vick's mentholated vapor rub. The package showed Breathe Right and Vick's brand names. This is an example of:
Generic Product Name
Rollerblades is brand name for in-line skates. People often refer to Rollerblades as if it were the product name. Company may someday find its brand name becoming a:
Repositioning
Lacoste has targeted 40 something male consumers-- Today through implementation of a ____ strategy, it targets male and female fashion conscious consumers in their 20's with everything from moon boots to coats
Establishing new product strategy
First stage of new product development process is:
Financial lenders
Least likely source for new product ideas:
Idea Screening
First filter in new product development process. Serves to eliminate new product ideas that are inconsistent with organizations new product strategy or are obviously inappropriate for some other reason:
Business Analysis
In the ____ stage of new product development, preliminary demand, cost, sales, and profitability estimates are made:
Innovation
Product that is perceived as new by a potential adopter, whether product is "new to the world" or simply new to the individual is an:
Diffusion
Process by which the adoption of an innovation spreads is _____. This is the spread of a new idea from its source of invention or creation to its ultimate users or adopters.
Laggards
Which of the following is a market group discussed in diffusion of innovations:
Twinkie brand should benefit from placement of their product in Zombie Land
Which is true?
Laggards
Adopter Categories-- Final 16% to adopt are similar to innovators in they don't rely on norms of group but independent because they are tradition bound. Lowest socioeconomic status, suspicious of new products:
Observability
Razor scooters gathered popularity because walkers/runners frequently saw people on scooters zipping by and having fun. Adoption rate of razor scooter was most affected by:
Introductory
Gold Peak by Coca Cola North American intended to taste like tea "Mom used to Bew"-- High marketing and high production cost occur. Promotion is informing customers. Which stage is Gold Peak in:
Profits Peak
During growth stage of product life cycle
Promotion to dealer is often intensified
During maturity stage of product life cycle:
All statements about PLC are true
Which about product life cycle is true?
Service
Result of applying human or mechanical efforts to people or objects:
Employs roughly 80% of U.S. work force
The service sector:
Intangible
A service can't be touched, seen, tasted, heard, or felt in the same manner in which goods can be sensed and therefore is referred to as:
Experience
Western Union has 225,000 locations in 196 countries. You can send money from Georgia to a small town in Mexico without worrying. Western Union has a high degree of ____ properties.
Credence Quality
Characteristic that can't easily be assessed even after purchase since the customers don't have the knowledge or experience.
Heterogeneity
Difficult to achieve consistency and standardization of services because of which service characteristic:
Validity
Not a service component used to evaluate service quality:
Reliability
Western Union allows people in one area to transfer funds dependably to another--This provides which service quality:
Gap Model of Service Quality
Budget Airlines-- Shanghai based Spring Airlines is start-up company with a tight budget. Spring has 97% satisfaction level despite employees being throttled--According to _____----gap between what customers want and what management thinks customers want.
Service quality specifications and service actually provided
Radio Shack--Manager frustrated at level of service from employees after he made a guide. Example gap between:
Market Segments
IAM Pets--Dental products for dogs--Dogs at various ages and sizes--These subgroups are:
Market Segmentation
E & V Bridal Studio--Needs marketing mix for ethnic customers---Procedure to divide large market
Do all of these things
Market segmentation helps businesses to
Complexity
Manufacturer of lenses has segmented its markets (science, sports)--For this is to be successful all criteria must be met EXCEPT
Sustainability
According to criterion of ____ selected segment must be large enough to warrant developing and maintaining...
Random Sample
UK Hospital is interested in getting cross section of patient opinion on changes that will make hospital stay more like motel stay. The cost of new amenities will be reflected in higher rates. UK Hospital used random number table to select participants for list of patients this is _____.