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Chp 9-11 Marketing
Chp 9-11 Marketing Practice Quiz
| Question | Answer |
|---|---|
| Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is called | market segmentation. |
| KFC has modified its product to satisfy different market segments. In Holland the mashed potatoes are replaced with a potato-and-onion croquette, Thailand, a customer gets fresh rice with soy or sweet chili sauce with his or her chicken. KFC uses: | product differentiation. |
| One advantage of a market-product grid is that it can be used to | relate likely sales of products to prospective market segments. |
| Which of the following is an example of a single product with multiple market segments? | Johnson's Baby Oil is advertised as a skin softener for babies and as a makeup remover for women. |
| Custom Foot guarantees your shoes will be ready within three weeks. This is an example of: | mass customization |
| There are five steps involved in segmenting and targeting a market. What should a marketer do once he or she has selected a target market? | take marketing actions to reach that target market |
| So these restaurants will need to have their regular salad bar plus a special salad bar for the allergies segment. This multiple product and multiple market segment strategy would have the greatest difficulty meeting which of the following criteria used | potential for increased profit and ROI |
| A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors. The map is based on perceptions of: | consumers. |
| Marketers use perceptual maps as a means to display or graph in two dimensions the location of products or brands | in the minds of consumers. |
| Which of the following descriptions best describes the marketing strategy of J.W. Marriott Hotels reviewed in the class ICA: | segmentation & targeting strategy coupled w/an int'l expansion, acquisition, product development strategy grounded on exceptional service & meeting or exceeding the expectation of pleasure and business travelers across a broad array of different segments. |
| . Further, Pat noticed Target offered an array of different products within each product group. Each product group at Target is an example of a(n) _________; all of the product groups together constitute Target's __________. | product line; product mix |
| Classification of products by degree of __________ divides them into three categories. They are nondurable goods, durable goods, and services. | tangibility |
| The use of certificates of training and customer testimonials is one way the service provider is trying to deal with the service characteristic of: | intangibility. |
| Idle production capacity is: | a situation where a service provider is available but there is no demand. |
| Assume a new automobile fuel is developed that performs much like gasoline except that it doubles a car's miles-per-gallon—however, the fuel costs two and one-half times as much as gasoline. Why do you think such a new product might fail? | insignificant point of difference |
| In a New Product Development Process, an external evaluation that consists of preliminary testing of a new-product idea (rather than the actual product) with consumers is called: | a concept test |
| At Fisher-Price, new product prototypes are child-tested in special testing playgrounds during the __________ stage in the new-product process. | development |
| During the introduction stage of the product life cycle, __________ may be used. This pricing strategy charges a high price to recoup the costs of product development. | skimming pricing |
| During the maturity stage of the product life cycle, profit declines because: | there is fierce price competition among sellers. |
| Unfortunately, the production process cannot be patented, and competitors could arrive within a few months. Which of the following is the best description of the product life cycle of this product? | moderately slow introduction, followed by modest growth, gradually leveling off |
| Finding new uses for an existing product has been a major strategy in extending the life of Arm & Hammer Baking Soda. The product is now being promoted as a dentifrice; a deodorizer and a fire extinguisher. Arm & Hammer is: | creating new use situations through a market modification strategy. |
| The stove because of its design also conserves wood because it burns slowly. The brand name he is considering is The Fast One. Why is this brand name choice NOT the best one? | The name should suggest the product benefits. |
| Multiproduct branding is: | a branding strategy in which a company uses one name for all of its products in a product class. |
| Which of the following statements about packaging is true? | All of the above statements about packaging are true |
| Commuters in New York often have often installed devices on their cars that can be read automatically as they approach a tollbooth. Commuters in New York are experiencing: | off-peak pricing. |
| The stage in the product life cycle labeled "C" in the above Figure is called | maturity |
| During the introduction stage of the product life cycle above in figure, the pricing strategy that discourages competitive entry by charging a low price is referred to as | penetration pricing. |
Created by:
kkolsch