Question 1. A ____ might consist of a fast food item, a gourmet meal from a four-star restaurant, frozen pizza, a steak cooked at home, and a Slim-Fast® Optima Shake.
a. product market
b. generic market
c. target market
d. marketing mix
e. segmented market
Question 2. Positioning refers to how a company's marketing department thinks about proposed or present brands in a market.
__True __ False
Question 3. The following are all major stages of a product life cycle except:
a. Sales decline
b. Market maturity
c. Market Introduction
d. Market Implementation
e. Market Growth
Question 4. Five levels of brand familiarity useful for strategy planning are:
a. generic, store-brand, national, regional and local
b. non-recognition, low recognition, moderate recognition, complete familiarity, and recognition by another name (e.g., store brand).
c. non-acceptance, acceptance, requested, logo-recognized, and generic preferred.
d. rejection, substituted, non-recognition, acceptance and preference.
e. rejection, non-recognition, recognition, preference, and insistence.
Question 5. The correct steps in the new product development process are:
a. Idea generation, screening, idea evaluation, development, and commercialization
b. Idea creation, market research and development, and introduction of product
c. Product positioning, idea screening, evaluation, and commercialization
d. Idea screening, idea development, marketing research, and commercialization
e. Defining the product attributes, defining the positioning strategy, market research, and commercialization
Question 6 . According to Kotler, ____are the easiest marketing-mix element to adjust.
a. promotions
b. distribution channels
c. product features
d. prices
e. sales tactics
Question 7. Convenience products usually have intensive distribution because sales of these products tend to have a direct relationship to availability.
__True __ False
Question 8. Ideally, "good market segments meet the following criteria:
a. Single market, unique, screening, idea evaluation, and segmented
b. Competitive, homogeneous, diversified, and penetrated
c. Homogeneous, heterogeneous, geographic, and penetrated
d. Homogeneous, heterogeneous, substantial, and operational
e. Substantial, multiple target, operational, and homogeneous
Question 9. A key objective of marketing is to:
a. Offer the right product at the right price
b. Find a break though opportunities
c. Satisfy the needs of some group of customers that the firm serves
d. Develop a competitive advantage
e. Offer new or improved products
Question 10. Quality and satisfaction depend on:
a. The total product offering
b. The need satisfying offering of a firm
c. The service offering
d. A product assortment
e. A product line
Question 11. Decisions regarding price are important because it affects both:
a. Flexibility and company earnings
b. The number of sales a firm makes and company earnings
c. Product life cycle and discounts
d. Discounts and company earnings
e. Transportation cost and company earnings
Question 12. Pricing objectives include all except:
a. Target return
b. Maximize profits
c. Temporary discounts
d. Dollar or unit sales growth and market share growth
e. Meeting competition
Question 13. Break even analysis is a pricing solution that evaluate whether the firm will be able to break even.
__True __ False
Question 14. An example of a properly trademarked name is:
a. Coca-Cola
b. Nescafé® coffee
c. Dunkin' Donuts
d. tic tacs®
Question 15. The four unique elements to services include:
a. Independence, intangibility, inventory, and inception
b. Independence, increase, inventory, and intangibility
c. Intangibility, inconsistency, inseparability, and inventory
d. Intangibility, independence, inseparability, and inventory
e. Interdependence, inventory, inseparability, and increase