BUS 105 EXAM 3
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Business products may be identified as | goods and services purchased for use either directly or indirectly in the production of other goods and services for resale
🗑
|
||||
| goods & services purchased by the ultimate consumer for personal use are called: | consumer products
🗑
|
||||
| largest metropolitan area in the world | Tokyo, Japan
🗑
|
||||
| the most common method of market segmentation | demographic segmentation
🗑
|
||||
| stereotyping | a preconception about a group of people
🗑
|
||||
| in terms of numbers, which age group is the largest? | baby boomers
🗑
|
||||
| the cohort effect | tendency of members of a generation to be influenced and bound together by events occurring during their key formative years-roughly ages 17 to 22
🗑
|
||||
| according to a recent study, the buying power of _______ is rising at a rate nearly trip that of the national average | Hispanic
🗑
|
||||
| psychographic segmentation | division of a population into groups having similar attitudes, values and lifestyles
🗑
|
||||
| 80/20 principle | generally accepted rule that 80% of a product's revenues come from 20% of its customers
🗑
|
||||
| the product-related segmentation of consumers based according to the strength of their attachment and allegiance to their preferred products is called _____________ | brand loyalty segmentation
🗑
|
||||
| the strategy sometimes referred to as mass marketing is also known as: | undifferentiated marketing
🗑
|
||||
| ___________ marketing is the development, growth, and maintenance of cost-effective, high-value relationships with individual customers, suppliers, and other partners over time. | relationship marketing
🗑
|
||||
| the type of interaction created by a second-level relationship marketing program is usually: | social interaction
🗑
|
||||
| third-level relationship marketing usually aims to create | as buyer and seller work more closely together, they develop a dependence on one another that continues to grow over time
🗑
|
||||
| the first step in measuring customer satisfaction is: | understanding customer needs
🗑
|
||||
| a marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities is called _______________ | affinity marketing
🗑
|
||||
| an information based approach that collects infinite amounts of data that must be mined for specific information about markets and consumers | database marketing
🗑
|
||||
| ______________ programs are designed to reward top customers with cash, rebates, merchandise, or other premiums | frequency marketing
🗑
|
||||
| _____________ assist marketers by providing software when it is needed to capture, manipulate, and analyze consumer data | application service providers (ASPs)
🗑
|
||||
| ____________ involves connecting directly with existing and potential customers through nonmainstream channels | customer relationship management (CRM)
🗑
|
||||
| ________ gathers volunteers to try products and then relies on them to talk about their experiences with friends and colleagues | buzz marketing
🗑
|
||||
| which of the following industries experiences the highest annual customer defection rates? | wireless telephone service
🗑
|
||||
| _____________ is a relationship involving long-term exchanges of goods or services in return for cash or other valuable consideration | seller partnership
🗑
|
||||
| The Eddie Bauer edition of the Ford Explorer is an example of: | cobranding
🗑
|
||||
| ____________ is a promotional effort that involves assigning a dedicated sales team to a firm's major customers to provide sales and service | national account selling
🗑
|
||||
| ___________ is a cooperative arrangement in which two businesses jointly promote each other's products | comarketing
🗑
|
||||
| when partners in a strategic alliance form a new business unit to implement their plans, they have created a: | joint venture where one owns 40% & the other owns 60%
🗑
|
||||
| define product | bundle of physical, service, and symbolic attributes designed to satisfy a customer's wants and needs
🗑
|
||||
| products marketed to consumers who may not yet recognized a need for them are __________ | unsought products
🗑
|
||||
| when a company institutes a continuous effort to improve products and work processes, they are practicing: | total quality management (TQM)
🗑
|
||||
| first main activity involved in benchmarking | a business must analyze its own activities
🗑
|
||||
| a product ______________ is a series of related products offered by one company | product line
🗑
|
||||
| the combination of product lines represents a company's ________________ | product mix
🗑
|
||||
| the number of product lines a firm offers is referred to as: | product mix width
🗑
|
||||
| products pass through a series of stages from their initial appearance to their decline | product lifecycle
🗑
|
||||
| in which stage of the product lifecycle do profits become more substantial? | growth stage
🗑
|
||||
| products with abbreviated lifecycles are called: | fad
🗑
|
||||
| Brand recognition as a stage of brand loyalty occurs when: | a new product is introduced
🗑
|
||||
| Dell manufactures and market computers and several related products, such as laptops, desktops, notebooks, and printers, all under the Dell name. This strategy is called _____ branding. | family brand
🗑
|
||||
| The added value that a certain brand name gives to a product in the marketplace is called brand: | brand equity
🗑
|
||||
| A brand for which the owner claims exclusive legal protection is known as a: | trademark
🗑
|
||||
| Trade dress refers to: | visual components that contribute to the overall look of a brand
🗑
|
||||
| The numerical bar code system used to record product and price information is known as the: | universal product code (UPC)
🗑
|
||||
| A _____ carries an item’s brand name or symbol, the name and address of the manufacturer or distributor, information about the product’s composition and size, and recommended uses. | label
🗑
|
||||
| product cannibalization | loss of sales of an existing product due to competition from a new product in the same line
🗑
|
||||
| _____ is the process by which new goods or services are accepted in the marketplace. | diffusion process
🗑
|
||||
| the average rate of new-product failure is approximately __________ | 80%
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
cierra.dixon