Marketing Final: Test 2
Terms in this set (50)
Which of the following statements concerning marketing research is most accurate?
When collecting marketing research, people may or may not be willing to tell you what you want to know if it is potentially embarrassing.
Which of the following regarding maturity stage of product life cycle is most accurate?
Marketing attention is directed toward holding market share through further product differentiation and finding new buyers.
As product adopters, members of the late majority
Are skeptical and have below average social status
All of the following are criterion used for selecting target market segments except:
Simplicity and cost of assigning potential buyers to segments
The first step in segmenting and targeting markets that link customer needs to marketing actions is to
Group potential buyers into segments
The relationship between a product line and product mix is
Product mixes include product lines
In terms of the business product classification categories, the click used to forward slides on a ppt would be a ____ product and the batteries in the clicker would be a ____ product
Accessory equipment; supplies
. Based on our in class analysis given the segmentation data for the fast food market we reviewed about usage, which statement is most accurate?
Wendy's could potentially be more successful by being the "best second alternative" by focusing on customers who might typically choose McDonald's as their first choice, but who sometimes want something different.
Development refers to the stage of the new-product process
That turns an idea on paper into a prototype
Breyer's introduced new ice cream on a limited scale to determine customer reactions. It was in the ___ stage of the new-product process
More than half of US households only have one or two people, so Aunt Jemima packages meals with only 1 serving. Aunt Jemima is using ___ as the basis to segment its market
A product refers to:
A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange or money or something else of value.
Product positioning refers to
The place a product offering occupies in consumers' minds on important attributes.
As product adopters, innovators
Are venturesome, highly educated, and use multiple information sources.
Which of the following is most likely to be an example of an unsought product?
Until 1996, US car makers made little right hand drive cars to Japan while Germans made many. American car manufacturers could blame their failure to a great degree on
Not satisfying customer needs on critical factors.
Setting research objectives and identifying possible marketing actions would take place during which stage of research approach?
Define the problem
Which of the following is an example of an effective positioning statement?
We provide small businesses under 10 employees with a cheaper way to do their payroll than hiring a full-service accounting firm.
Which of the following statements about market segmentation for organizational markets is most accurate?
Both consumer markets and organizational markets use demographic, geographic, and behavioral bases to segment markets.
A perceptual map refers to
A means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand.
The third step of the marketing research approach is to
Collect relevant information
With respect to price, which of the following type of consumer product would most likely be very expensive?
Which of the following statements regarding market segmentation is most accurate?
If a business firm goes to the trouble and expense of segmenting its markets, it expects to increase its sales, profits, and return on investment.
Research that involves trying to find the frequency that something occurs or the extent of a relationship between two factors is referred to as
According to our discussion about RFID technology and marketing, which of the following is FALSE?
It is not clear whether or not RFID will eventually be implemented as there are too many problems and it is not clear if the benefits for marketing will outweigh the costs of the technology.
A general rule of thumb among marketing researchers is to use ____ first and then collect ___.
Secondary data; primary data.
The correct ordering for the steps in the new product development process is:
New-product strategy development, idea generation, screening and evaluation, business analysis, development, market testing, and commercialization.
In terms of brand loyalty, consumers who are very brand loyal and will not accept substitutes for which type of consumer product?
Which of the following statements regarding segmentation bases is most accurate?
The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective.
Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are referred to as:
At which stage in the product life cycle do industry profits usually peak?
End of growth
Estimates are that for every 3000 ideas, ___actually end up as a commercially successful new product.
Marketers pay slotting fees to grocers in payment for space, or slots, on their retail shelves. Such slotting fees significantly increase the cost of which stage of the new-product process?
Philips spent million on advertising before TVs were available for sale in order to gain interest and acceptance. Philips was trying to create ____ in the market
In terms of the diffusion of innovation, early adopters account for ____ of product adopters.
Making action recommendations, implementing action recommendations, and evaluating results take place during which stage of the five-step marketing research approach?
Take marketing actions
What is the marketing objective for the growth stage of the product life cycle?
Napster was the first software for exchanging MP3 music files. When it was introduced, Napster would have been an example of a
Imagine that a new battery is developed, but the production process cannot be patented, so competitors could enter the market within a year. Which of the following would be the LEAST sound marketing program decision?
Select a skimming pricing strategy to position the product as "premium"
Which of the following is NOT a disadvantage of online surveys?
Criteria for forming segments involve both similarities and differences. Which of the following statements is most accurate?
Within a segment, the needs of potential buyers should be similar; between segments, the needs of buyers should be different.
Which of the followings statements best illustrates geographic segmentation?
In China, KFC sells a spicier chicken the farther away its restaurants are from the coastal areas.
Which of the following is NOT considered a product given the definition we used in class?
All of the above are actually products.
Two important disadvantages of secondary data are that it is ___ and ___
Not up to date; not specific enough for the project.
The 80/20 rule is most closely related to which consumer segmentation variable?
Recently, US dairies tried to change the way adults thought about milk. The dairies wanted to ____ chocolate milk in the minds of adult consumers.
Which of the following data are collected from consumers to develop a perceptual map for a particular product?
The important attributes for a product or brand class.
Market segmentation refers to
Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
In terms of promotion, which of the following types of products would stress price, availability, and awareness?
Which of the following statements about the introduction stage of the product life cycle is most accurate?
Because of the large initial investment costs, industry profits often must go from negative to positive.