Basic Marketing Concepts
• Question 1
As Justin works on the prototype of a new action-oriented computer game, he is engaging in which phase of the new-product development process?
• Question 2
Kara is a member of the product development team at a company that manufactures sports equipment. During a recent meeting, one of the team members asked "What level of quality are we building into the camping gear?" Based on this question, Kara and her team are most likely in the ____ phase of new-product development.
• Question 3
The Home Depot differentiates its product offerings from its competition with stores like Sam's, by offering delivery and installation, financing arrangements, and repairs. The Home Depot is differentiating through
• Question 4
Product deletion
• Question 5
If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of
• Question 6
A genuinely new product?like the iPhone once was?offers
• Question 7
Ideally, test marketing should follow which stage in the new-product development process?
• Question 8
Three major ways in which marketers engage in product differentiation are
• Question 9
A runout policy of product deletion
• Question 10
To differentiate their products, companies sometimes emphasize the product support services that they offer. This is especially true when
• Question 11
Marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. They will do so by letting the product decline and not change the current marketing strategy. This method of deletion is called
• Question 12
One disadvantage of test marketing a new product is that
• Question 13
Early in the commercialization phase, marketers must make decisions about
• Question 14
Dropping an unprofitable product immediately is the best strategy when
• Question 15
The three major ways to modify a product include
• Question 16
All of the following are major steps in developing new products except
• Question 17
Mercedes recognized it needed to revitalize its brand and attract different market segments. These are indications that Mercedes' products were primarily in the ____ stage of the product life cycle.
• Question 18
When Clorox introduced bleach in a no-drip bottle, the firm was taking action consistent with its product being in the ____ stage of the product life cycle.
• Question 19
Facilities, factories, and production lines with very large equipment are all classified as
• Question 20
A product line is defined as
• Question 21
During the introduction stage of a successful product, profits are usually
• Question 22
To make intangible products more tangible or real to the consumer, marketers often
• Question 23
Minerals, chemicals, timber, and agricultural products are considered
• Question 24
Dannon Yogurt represents what type of product for most consumers?
• Question 25
When are marketers least likely to change a product's design, style, or other attributes?
• Question 26
Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.
• Question 27
When Sony realized its CD players were in the decline stage, it decided to immediately withdraw all of its marketing support from these declining products, an approach known as
• Question 28
When Minute Maid mailed out free samples of its new instant drink mix, it was trying to move prospective customers into the ____ stage of the product adoption process.
• Question 29
Which of the following is the most typical example of a new product introduction?
• Question 30
Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.
• Question 31
An individual knows that a product exists, but has little information regarding the product and does not seek additional information. In what stage of the product adoption process is that person?
• Question 32
Gap clothing stores sell primarily what type of products?
• Question 33
Although they become part of a larger product, ____ can often be easily identified and distinguished on the larger product.
• Question 34
Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Brian likely used which sales forecasting technique?
• Question 35
Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example is
• Question 36
Demographic variables such as income and occupation, as well as how people spend their time and the importance of things in their surroundings, are all factors considered in ____ segmentation.
• Question 37 0
Crest toothpaste is available in several different versions, such as Crest Whitening, Crest Tartar Control, Crest Whitening with mouthwash, and Crest Total Effects. Given these different variations of the product, it appears that the marketers of Crest are segmenting the market by using ____ segmentation.
• Question 38
Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets.
• Question 39
When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.
• Question 40
Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid
• Question 41
Bethlehem Steel provides steel for a variety of uses to its various customers. Customers have different needs for the steel and thus Bethlehem has to prepare the raw steel differently depending on how customers will use it in their production processes. The primary business segmentation variable in this example is
• Question 42
After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is
• Question 43
Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ____ markets.
• Question 44
The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the
• Question 45
Volkswagen markets its Routan to large families, its R32 racecar to men, and its Jetta to young singles. What targeting approach is Volkswagen using?
• Question 46
Which of the following products is most likely to have its market segment based on age?
• Question 47
Which of the following products is least likely to be segmented according to stages in the family life cycle?
• Question 48
Katy Ramirez is a marketer for a company that produces in-ground swimming pools. When forecasting company sales, she finds a direct association between past sales and per capita income. Which sales forecasting technique is Katy using?
• Question 49
In order to be considered a market, people do not have to have
• Question 50
Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas. What is this segmentation variable called?