Exam 12: Understanding Marketing Principles and Developing Products

Lextel Ltd.is involved in a market research study.They have already studied the current situation to determine which needs exist.Their next step is to begin collecting data.

A process of using symbols to communicate the qualities of a product made by a particular producer is

Goods which are very important,expensive,and rarely purchased are ________ goods.

An individual's motivations,perceptions,ability to learn,and attitudes are part of which influence on consumer behaviour?

When Reader's Digest identified and classified its readers into young adults,computer owners,and professionals/managers,it was using

The first step in conducting market research is to study the current situation in order to identify a need and to determine how that need is being met.

For many years,ServiceMaster focused on residential customers,but now it has added business and industry services.This is an example of

ComicalYou is a new social media service in which participants create avatars to represent themselves,describe their lives,and interact with one another.All the postings are graphical,presenting the messages in the form of comic panels and strips.The service's software easily converts ideas into whimsical images.The site's creators,Ginny and RJ,believe that ComicalYou will be especially appealing to young people because it is so effective in conveying emotional content with a lighthearted appeal.They,along with a team of six employees,have completed the software,tested it on two dozen of their closest friends,and are eager to open their site to users.What steps in the development process should Ginny and RJ complete before they commercialize ComicalYou?

Advertisements for the Swatch Chrono watch remind consumers that they don't get just "real" features like shock and water resistance when they buy the product.This is an example of

The President's Choice brand (Loblaws Companies Ltd. )and the Life brand (Shoppers Drug Mart)are examples of private brands.

Which of the following is the best example of a B2B market transaction?

Dinasonic manufactures and markets consumer kitchen products.The company is preparing to introduce its products to international markets.The company's director of marketing wants the company to adapt its marketing approach to the various markets in different countries that the company is looking to enter.He needs to defend the proposal for his recommended marketing strategy to the rest of the executive team. The director of marketing argues that Dinasonic should alter its marketing strategy in different countries by adapting its methods of advertising.Which of the following,if true,would support this position?

A product's benefits include all of the following except which?

Describe three strategies for extending the product life cycle.

When Maytag created the perception that its products were more reliable (by showing a lonely repair person with nothing to do)it was using a(n)________ strategy.

Penelope's Pizza,a local chain of restaurants,has made the decision to expand on a national basis.It plans to open 50 new locations in 20 cities across the country within the next two years.In order to efficiently integrate all the tools and company resources to maximize the impact on new customers,Penelope's Pizza is considering using an integrated marketing strategy to promote a coherent national brand perception.The account manager argues that an integrated marketing strategy is the way to go,but the CEO argues that each local community is different,and the needs,values,and norms of the host cities should drive the marketing campaign. After becoming a successful national brand,Penelope's Pizza has made the decision to expand overseas and enter the global market.Using a globally integrated marketing plan,Penelope's plans to enter the pizza market in Germany,Japan,and India.The CEO wants to use an adaptation plan in the new markets,and thus offer kielbasa pizza in Germany,sushi pizza in Japan,and vegetarian pizza in India.The advertising firm recommends a standardization approach as being more cost efficient and brand identifiable.Which statement,if true,supports the CEO's argument?

According to the marketing concept,

Hydraulics Inc.makes filters for manufacturing companies.What kind of marketing is it engaged in?

Who has the responsibility for developing the plan to introduce a new product,service,or idea?

Which of the following is correct with regard to the concept of a "product"?