Which of the following correctly defines the consumer? market?
A. Consumers who spend more than? $5,000 yearly on goods and services
B. Consumers and the businesses who sell to them
C. Consumers and the resellers who consumers buy their products from
D. I
D. Individuals and households that buy goods and services for personal consumption
Which of the following statements is correct regarding consumer buying? decisions?
A. Consumers are often unaware of what influences their purchases.
B. The easiest part of studying buying decisions is determining the whys behind consumer buying behavior.
A. Consumers are often unaware of what influences their purchases.
According to the simple model of buyer? behavior, what is in a? buyer's black? box?
A. The? buyer's characteristics and the? buyer's decision process
B. Postpurchase behavior
C. Cultural forces
D. The? buyer's response
E. The four Ps
A. The? buyer's characteristics and the? buyer's decision process
What are the three cultural factors that influence consumer buyer? behavior?
A. Culture, subculture, and lifestyle
B. Culture, family, and lifestyle
C. Culture, social? class, and lifestyle
D. Culture, subculture, and family
E. Culture, subculture, and so
E. Culture, subculture, and social class
According to the? text, what is the most basic cause of a? person's wants and? behaviors?
A. Occupation
B. Income
C. Personality
D. Culture
E. Lifestyle
D. Culture
Which of the following statements regarding American subcultural groups is? correct?
A.
African American consumers are price? conscious, so they are less motivated by quality and selection.
B.
Hispanic culture is homogenous and does not have subcultures w
D. Asian Americans are the most affluent U.S. demographic segment.
Which of the following correctly identifies the social factors that influence consumer buyer? behavior?
A.
Small? groups, social? networks, social? class, and subculture
B.
?Family, social? networks, social? class, and subculture
C.
Small groups?, social?
C. Small groups?, social? networks, ?family, and social roles and status
What are the four general characteristics that influence consumer? purchases?
A.
Cultural? characteristics, social? characteristics, personal? characteristics, and psychological characteristics
B.
Cultural? characteristics, social? characteristics, demogr
A. Cultural? characteristics, social? characteristics, personal? characteristics, and psychological characteristics
A purse? company's ads feature the cast of a popular reality show. Product sales increase significantly among the fans. From the? fans' viewpoint, the cast is? a(n) __________.
A.
membership group
B.
opinion leader
C.
social network
D.
reference group
E.
D. reference group
Which of the following is a personal factor that influences a? consumer's buying? behavior?
A.
Motivation
B.
Occupation
C.
Learning
D.
Family
E.
Social class
B. Occupation
Which of the following statements is correct regarding the influence of personal factors on buyer? behavior?
A.
The concept of lifestyle is too complex to be of use to marketers.
B.
A? person's occupation does not affect the goods they purchase.
C.
Consum
C. Consumers tend to buy brands whose personality matches their own.
What are the four major psychological factors that influence consumer buyer? behavior?
A.
?Motivation, perception,? learning, and personality
B.
?Motivation, learning,? personality, and? self-concept
C.
?Motivation, perception,? learning, and beliefs and
C. Motivation, perception,? learning, and beliefs and attitudes
When consumers engage in? __________ buying behavior they go through a learning? process, so it is most important that marketers understand information gathering and evaluation behavior.
A.
low involvement
B.
?dissonance-reducing
C.
habitual
D.
complex
E.
D. complex
?Dissonance-reducing buying behavior would result from which of the following? conditions?
A.
Any buying situation with significant differences between brands
B.
High involvement and few differences between brands
C.
Low involvement and significant differ
B. High involvement and few differences between brands
Which of the following statements regarding habitual buying behavior is? correct?
A.
In these types of purchases marketers often use price and sales promotion as incentives for purchase
B.
In these types of purchases buyers carefully weigh their choices.
A. In these types of purchases marketers often use price and sales promotion as incentives for purchase
What is the correct order of the five stages in the buyer decision? process?
A.
Need recognition?, the purchase? decision, information search?, evaluation of alternatives?, and postpurchase behavior
B.
Information? search, need recognition?, evaluation of
E. Need recognition?, information search?, evaluation of alternatives?, the purchase decision?, and postpurchase behavior
What tends to be the most effective source of information when consumers make a buying? decision?
A.
The Internet
B.
Personal sources
C.
Advertisements
D.
Mass media
E.
Salespeople
B. Personal sources
Two things can come between the intention to make a purchase and the actual? purchase: the first is the attitudes of others and the second is? __________.
A.
too many choices
B.
unexpected situational factors
C.
lack of information
D.
poor? decision-makin
B. unexpected situational factors
What determines if a buyer is satisfied or dissatisfied with a? purchase?
A.
Whether or not they experience cognitive dissonance
B.
The number of alternatives considered in the purchase decision
C.
The relationship between consumer expectations and percei
C. The relationship between consumer expectations and perceived product performance
Which of the following statements regarding the buyer decision process is? correct?
A.
Consumers? may, in some? situations, skip steps in the buyer decision process.
B.
The buyer decision process consists of four stages.
C.
Consumers tend to take the same
A. Consumers? may, in some? situations, skip steps in the buyer decision process.
?__________ is the first stage in the new product adoption process.
A.
Evaluation
B.
Trial
C.
Awareness
D.
Adoption
E.
Interest
C. Awareness
What is the correct order of the five stages of the new product adoption? process?
A.
?Awareness, interest,? evaluation, trial, adoption
B.
?Awareness, interest,? trial, adoption, evaluation
C.
?Interest, awareness,? evaluation, trial, adoption
D.
?Awaren
A. Awareness, interest,? evaluation, trial, adoption
People can be classified into adopter categories. Which two categories are the first to adopt a new product? idea?
A.
Innovators and early adopters
B.
Early adopters and lagging adopters
C.
Innovators and the early mainstream
D.
Early mainstream and the l
A. Innovators and early adopters
Which adopter category consists of opinion leaders who adopt new ideas early but? carefully?
A.
Lagging adopters
B.
Late mainstream
C.
Early adopters
D.
Early mainstream
E.
Innovators
C. Early adopters
Which of the five characteristics identified in the text has an inverse relationship with an? innovation's rate of? adoption? As this characteristic? increases, the rate of adoption is slower.
A.
Compatibility
B.
Relative advantage
C.
Communicability
D.
D
E. Complexity
The process of evaluating each market? segment's attractiveness and selecting one or more market segments to enter is called? __________.
A.
differentiation
B.
a? customer-driven marketing strategy
C.
positioning
D.
market segmentation
E.
market targeting
E. market targeting
What is the overall purpose of? differentiation?
A.
To allow a firm to offer the lowest prices
B.
To create superior customer value
C.
To market high quality products
D.
To select the segment or segments to enter
E.
To divide the market into smaller group
B. To create superior customer value
Which of the following statements about segmentation is? true?
A.
Segmentation identifies individual buyers that can be targeted with a market offering.
B.
Buyers within a market segment have different? needs, characteristics, and behaviors.
C.
Most compa
E. Different segments might require different marketing strategies or mixes.
What is? positioning?
A.
Arranging for a market offering to occupy a? clear, distinctive, and desirable place relative to competing products in the minds of target consumers
B.
Dividing a market into smaller groups of buyers
C.
Developing profiles of mark
A. Arranging for a market offering to occupy a? clear, distinctive, and desirable place relative to competing products in the minds of target consumers
Which of the following statements regarding demographic segmentation is? correct?
A.
Demographic segmentation divides a market based on? age, personality, and benefits sought.
B.
Demographic variables are difficult to measure.
C.
Demographics are rarely u
E. Consumer? needs, wants, and usage rates vary closely with demographic variables.
Psychographic segmentation divides buyers into different segments based on? __________.
A.
lifestyle and income
B.
age and? life-cycle stage
C.
lifestyle and geography
D.
personality and income
E.
lifestyle and personality
E. lifestyle and personality
Fitbit makes health and fitness tracking devices. Some buyers want very basic fitness tracking such as steps taken and calories consumed. Others are focused on high performance and want heart rate and sleep? monitoring, text? notification, and wireless sy
D. benefits sought
Which base of segmentation divides buyers into segments based on their? knowledge, attitudes,? uses, or responses to a? product?
A.
Behavioral
B.
Geographic
C.
Demographic
D.
Economic
E.
Psychographic
A. Behavioral
If men and women respond similarly to the same marketing? mix, they do not constitute? distinct, identifiable segments. Gender would not be an effective base for segmentation in this example because the segments are not? __________.
A.
actionable
B.
subst
E. differentiable
Which of the following statements regarding segmentation is? correct?
A.
The business market is homogenous and is not segmente
B.
Marketers typically use one variable to segment their markets.
C.
The use of demographics to segment markets has declined in
D. Consumer and business marketers use many similar? variables, but business marketers use additional variables to segment their markets.
When segmenting international? markets, marketers often can form segments of consumers who have similar needs and buying behaviors even though they are located in different countries. This is called? __________.
A.
intermarket segmentation
B.
geographic s
A.
intermarket segmentation
When segmenting international? markets, markets can be grouped according to? language, religion,? customs, and values. This type of segmentation is based on? __________ factors.
A.
demographic
B.
psychographic
C.
cultural
D.
geographic
E.
economic
C.
cultural
There is a growing segment of people who want food that tastes good and is also good for them. This? healthy-living segment represents which segmentation? base?
A.
Lifestyle
B.
Usage rate
C.
Geography
D.
Age
E.
Gender
A.
Lifestyle
Which of the following descriptions best represents targeting a demographic? segment?
A.
Promoting a smartphone with longer battery life
B.
Promoting cranberry sauce for the Thanksgiving holiday
C.
Marketing athletic clothing for sports enthusiasts
D.
Mar
D.
Marketing prepackaged lunches for children
A colleague wants to evaluate the attractiveness of a particular market segment. Which of the following would be good advice for your? colleague?
A.
If there are powerful buyers in the segment it will drive prices up.
B.
Carefully consider the degree of c
B.
Carefully consider the degree of competition and ease of entry into the segment.
What are the three broad targeting strategies used by? marketers?
A.
Mass? marketing, differentiated? marketing, and concentrated marketing
B.
Differentiated? marketing, concentrated? marketing, and micromarketing
C.
Mass? marketing, undifferentiated? mar
E.
Mass? marketing, differentiated? marketing, and micromarketing
Which targeting strategy focuses on common consumer? needs, as opposed to different? needs?
A.
Mass marketing
B.
Differentiated marketing
C.
Concentrated marketing
D.
Individual marketing
E.
Local marketing
A.
Mass marketing
On the My? M&Ms website buyers can place custom orders for? M&Ms. They can choose their own? colors, put a personalized text message on the? candies, and even upload a photo to be placed on each? M&M. Which targeting strategy is? M&M using for My? M&Ms?
A
C.
Individual marketing
Choosing a differentiated targeting strategy has many? benefits, but a potential downside is that? __________.
A.
it can increase costs
B.
serving one or a few smaller segments can limit sales
C.
focusing on what is common in consumers can potentially app
A.
it can increase costs
Which of the following statements regarding concentrated marketing is? correct?
A.
Concentrated marketing is not feasible for small companies.
B.
Concentrated marketing is generally not a profitable strategy.
C.
Concentrated marketing targets a small shar
E.
Concentrated marketing involves? higher-than-normal risks.
The full mix of benefits on which a brand is differentiated and positioned is called? a(n) __________.
A.
positioning statement
B.
value proposition
C.
image statement
D.
mission statement
E.
perceptual map
B.
value proposition
What are perceptual positioning maps used? for?
A.
To compare a? company's profitability with the profitability of competitors
B.
To show consumer perceptions of different brands on a single product dimension
C.
To show consumer perceptions of different b
C.
To show consumer perceptions of different brands on important product dimensions
BMW says their cars are? "The Ultimate Driving? Machine". Ford trucks are? "Built Ford? Tough". Which type of differentiation do these examples? represent?
A.
Channel differentiation
B.
Services differentiation
C.
Product differentiation
D.
Image differen
C.
Product differentiation
Which value proposition is the most difficult to sustain in the long? run?
A.
More for more
B.
Less for much less
C.
More for the same
D.
The same for less
E.
More for less
E.
More for less
Which of the following statements regarding positioning is? correct?
A.
Once a positioning strategy is? identified, it is typically very easy to implement.
B.
Once? established, a strong position is never lost.
C.
Abruptly changing a position is an effect
E.
Positions must adapt over time to meet changing consumer needs.
Which of the following correctly defines a? product?
A.
Products include tangible objects and services but not events or people.
B.
Products are tangible goods only.
C.
A product is the overall market offering.
D.
A product is anything offered to a market
D.
A product is anything offered to a market that might satisfy a need or want.
Charles? Revson, who started? Revlon, once said? "We sell? hope." Revson was defining the? __________ of Revlon cosmetics.
A.
quality level
B.
design
C.
branding
D.
augmented product
E.
core customer value
E.
core customer value
Product planners think of products on three levels. Which of the following correctly identifies the three? levels?
A.
The? branding, the quality? level, and the design
B.
The core customer? value, the actual? product, and the? product's position
C.
The co
D.
The core customer? value, the actual? product, and the augmented product
?Typically, consumers put in minimum time and effort when buying products such as laundry? detergent, candy, and fast food. These types of goods are classified as? __________ products.
A.
shopping
B.
unsought
C.
specialty
D.
augmented
E.
convenience
E.
convenience
Materials and? parts, capital? items, and supplies and services are groups of? __________products.
A.
industrial
B.
specialty
C.
shopping
D.
convenience
E.
unsought
A.
industrial
Mothers Against Drunk Driving? (MADD) runs advertising campaigns aimed at stopping drunk driving and preventing underage drinking. This is an example of? __________.
A.
social marketing
B.
place marketing
C.
organization marketing
D.
corporate image marke
A.
social marketing
?Furniture, major? appliances, clothing, and hotel services are classified as? __________ products.
A.
unsought
B.
industrial
C.
specialty
D.
shopping
E.
convenience
D.
shopping
In determining product? quality, what are the two dimensions of quality marketers must decide? upon?
A.
Level and features
B.
Consistency and design
C.
Consistency and packaging
D.
Level and price
E.
Level and consistency
E.
Level and consistency
Which of the following statements regarding individual product decisions is? correct?
A.
Quality is important but it is not used to position products.
B.
The sole function of packaging is to hold and protect a product.
C.
Product design and product style
E.
Customer service is an important element of product strategy.
The number of items in a product line represents the? __________ and the total number of product lines a company carries represents the? __________.
A.
product line? length; product mix width
B.
product line? width; product mix length
C.
product mix? dept
A.
product line? length; product mix width
When a company lengthens a product line by adding more items within that lines current? range, they are? __________.
A.
increasing the width of their product mix
B.
stretching the line downward
C.
filling the line
D.
decreasing the depth of the line
E.
st
C.
filling the line
If a company adds a new product line to its existing? portfolio, it has increased its? __________.
A.
product line length
B.
product mix consistency
C.
product mix depth
D.
product mix width
E.
product support services
D.
product mix width
A group of products that are closely related because they function in a similar? manner, are sold to the same customer? groups, are marketed through the same types of? outlets, or fall within given price ranges are called? a(n) __________.
A.
product leve
D.
product line
Services cannot be? seen, tasted,? felt, heard, or smelled before they are bought. In other? words, services are? __________.
A.
tangible
B.
variable
C.
inseparable
D.
intangible
E.
perishable
D.
intangible
What are the four special service characteristics marketers must consider when designing marketing? programs?
A.
?Intangibility, inseparability,? variability, and substitutability
B.
?Intangibility, inseparability,? conformity, and perishability
C.
?Tangi
E.
?Intangibility, inseparability,? variability, and perishability
One characteristic of services is their variability. What is the main reason for services being? variable?
A.
Services are? tangible, and defects are impossible to prevent.
B.
Services cannot be separated from their providers.
C.
Service quality depends o
C.
Service quality depends on who provides? them, as well as? when, where, and how they are provided.
For which service characteristic do marketers need to pay close attention to fluctuations in? demand?
A.
Intangibility
B.
Inseparability
C.
Variability
D.
Tangibility
E.
Perishability
E.
Perishability
Which of the following statements about service marketing is? correct?
A.
Training current employees better and hiring new ones with more skills can increase service productivity.
B.
Social media is not useful to service marketers.
C.
Due to the variabili
A.
Training current employees better and hiring new ones with more skills can increase service productivity.
Service quality greatly depends on the quality of the buyerdash-seller interaction during the service encounter. This is known as? __________.
A.
internal marketing
B.
image differentiation
C.
interactive marketing
D.
external marketing
E.
the service pro
C.
interactive marketing
Walmart created the Great Value brand for their food products and the Equate brand for their? pharmacy, health, and beauty products. Walmart does not manufacture any of these products. Which type of brand sponsorship is Walmart? using?
A.
A licensed brand
D.
A private brand
Which of the following best describes brand? equity?
A.
That the brand is legally protected from imitation
B.
The total financial value of a brand
C.
The return on investment a firm receives from a brand
D.
The extent to which two different brands in the
E.
A measure of the? brand's ability to capture consumer preference and loyalty
According to the? text, what are the three levels on which brands can be? positioned?
A.
Brand? equity, brand? value, and brand sponsorship
B.
?Quality, features, and desirable benefits
C.
Product? attributes, price, and packaging
D.
Product? attributes,
E.
Product? attributes, desirable? benefits, and beliefs and values
When Doritos comes out with new flavors of their tortilla? chips, what brand development strategy are they? using?
A.
New brand
B.
Multibrand
C.
Licensing
D.
Line extension
E.
Brand extension
D.
Line extension
Duracell is well known for manufacturing and marketing batteries. Recently they launched the Duracell? Powermat, which is a wireless charger for mobile devices. Which brand development strategy did Duracell use in this? example?
A.
Licensing
B.
New brand
D.
Brand extension
Which of the following statements regarding managing brands is? correct?
A.
Once a? brand's position is firmly? established, further communicating that position to consumers is a waste of resources.
B.
The only company departments that must truly embrace
E.
?Customers' engagement with brands and? customers' brand experiences are the key elements in maintaining a? brand's position.
What must companies do to create successful new? products?
A.
Spend more on? R&D than its competitors.
B.
Cut costs to keep the price of new products low.
C.
Focus their new product development efforts only on consumers.
D.
Understand its? consumers, mark
D.
Understand its? consumers, markets, and competitors and develop products that deliver superior value.
Which of the following statements about new product development strategy is? correct?
A.
New products are not a key source of growth for companies.
B.
New products are usually successful because consumers like new things.
C.
Innovation can be very expensi
C.
Innovation can be very expensive and very risky.
Which of the following statements concerning new products is? correct?
A.
Products that are merely improved in some way are not considered new.
B.
Most new products succeed within two years of their introduction.
C.
To be considered? new, the product must
E.
Modified and improved products are considered new.
What is the first step of the new product development? process?
A.
Marketing strategy development
B.
Idea generation
C.
Business analysis
D.
Concept development and testing
E.
Idea screening
B.
Idea generation
At which stage of the new product development process is a physical product first? developed?
A.
Marketing strategy development
B.
Idea generation
C.
Product development
D.
Concept development and testing
E.
Test marketing
C.
Product development
During the idea generation stage of the new product development? process, it is important that? __________.
A.
companies generate a small number of ideas that seem feasible
B.
companies realize that it is illegal to use competitors as a source of new idea
C.
companies create a large number of ideas
What is a product? concept?
A.
A detailed version of a new product idea stated in meaningful consumer terms
B.
A working model of a new product
C.
An idea for a new product
D.
A new product which is ready to be test marketed
E.
The image of a new product
A.
A detailed version of a new product idea stated in meaningful consumer terms
If a company finds that a new product concept is acceptable and should be moved? forward, what is the next step in the new product development? process?
A.
Product development
B.
Test marketing
C.
Business analysis
D.
Commercialization
E.
Marketing strate
E.
Marketing strategy development
One recent development in generating new product ideas is for a company to invite broad communities of peoplelong dash�such as? employees, customers, and even the public at largelong dash�into the innovation process. This is known as? __________.
A.
crowd
A.
crowdsourcing
During concept? testing, who is the product concept actually tested? on?
A.
Competitors
B.
Groups of target customers
C.
Employees in the? company's marketing department
D.
Broad groups of consumers
E.
Internal? R&D engineers
B.
Groups of target customers
Which of the following statements regarding standard test marketing is? correct?
A.
If test marketing is? successful, the next step is to develop the product.
B.
New products are always test marketed.
C.
Test marketing can be costly and delay commercializ
C.
Test marketing can be costly and delay commercialization of the product.
According to the? text, the most successful new products satisfy three criteria. What are these? criteria?
A.
They solve a major customer? problem, are? differentiated, and offer a compelling value proposition.
B.
They appeal to a wide variety of? consume
A.
They solve a major customer? problem, are? differentiated, and offer a compelling value proposition.
Installing an innovation management system to? collect, review,? evaluate, and manage new product ideas represents? a(n) __________ approach to new product development.
A.
systematic
B.
haphazard
C.
sequential
D.
?customer-centered
E.
?team-based
A.
systematic
Companies should take a holistic approach to new product development. This means that the process should be? __________.
A.
?customer-centered, team-based, and haphazard
B.
?customer-centered, compartmentalized, and systematic
C.
?compartmentalized, team-
D.
?customer-centered, team-based, and systematic
When Dr. Footcare developed and launched a revolutionary new walking? shoe, he knew that during the introductory stage of the product life cycle? (PLC) __________.
A.
profits would rise quickly and there would be rapid market acceptance of the product
B.
D.
sales would be slow and profits nonexistent
Which of the following statements regarding the growth stage of the product life cycle is? correct?
A.
Companies face a? trade-off between high market share and high profits.
B.
Sales will be slow and profits will level off or decline.
C.
The company will
A.
Companies face a? trade-off between high market share and high profits.
Most products today are in which stage of their product life? cycle?
A.
Decline
B.
Maturity
C.
Product development
D.
Introduction
E.
Growth
B.
Maturity
Which of the following would be an appropriate strategy during the maturity stage of the product? lifecycle?
A.
Produce basic versions of the product and focus on selling to those buyers who are most ready to buy.
B.
Shift some advertising from building p
C.
Modify the? market, product? offering, or marketing mix.
A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended? st
D.
Growth
A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity is called? a(n) __________.
A. fashion
B. fad
C. aberration
D. style
E. trend
B. fad
In the decline stage of the product life? cycle, some companies continue to offer the product but reduce various? costs, hoping that sales hold up. This is known as? __________ the product.
A. maintaining
B. pruning
C. harvesting
D. liquidating
E. droppin
C. harvesting
Which of the following statements regarding socially responsible product decisions is? correct?
A. When companies drop? products, they do not have any obligations to? suppliers, dealers, and customers.
B. Safety legislation has not yet been passed to regu
D. The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition.
Which government agency has the authority to ban or seize potentially harmful products and set severe penalties for violation of the? law?
A. The Federal Trade Commission? (FTC)
B. The Consumer Product Safety Commission? (CPSC)
C. The Food? & Drug Adminis
B. The Consumer Product Safety Commission? (CPSC)
Which of the following statements is true regarding standardizing products for international? markets?
A. Standardization ensures that products will succeed in foreign markets.
B. Markets and consumers all over the world are? alike, so a company should al
E. Standardization decreases product? design, manufacturing, and marketing costs.
To succeed in? France, McDonalds had to? __________.
A. use the same cheeses on their burgers that are used in the United States
B. tailor their operations to local French preferences
C. keep the same restaurant design as in the United States
D. use local
B. tailor their operations to local French preferences