Exam 12: Understanding Marketing Principles and Developing Products

A consumer who is dissatisfied with the first use of a product will usually try the product one more time to give it a second chance.

When a company with a well-known brand sells another company the right to place that brand on its products,these are called private brands (e.g. ,the Harley-Davidson logo on gloves).

Coca-Cola,Pepsi-Cola,Kleenex,and Chevrolet are examples of

A consumer who recognizes that he or she is thirsty during a shopping trip is in the problem recognition stage of the buying process model.

The four elements in the marketing mix are

Why is it important for companies to develop new products?

Suppose you work for a firm that manufactures and sells pet accessories.As part of your job,you frequently visit city parks and observe how people interact with their pets.You also talk to the staff members of veterinary clinics to discover how people relate to their pets.This activity is consistent with the ________ phase of new product development.

Why is product development a long and expensive process?

Which of the following is the study of the decision process by which people buy and consume products?

What results are expected from a successful product differentiation program?

Customer relationship management (CRM)focuses on building better information connections with clients.