Exam 12: Understanding Marketing Principles and Developing Products

Martin is the new director for marketing at Panther Shoes,a manufacturer of athletic apparel.When he suggested a relationship marketing campaign,his supervisor thought there was no need for Panther Shoes to have such a campaign.How could Panther Shoes benefit from relationship marketing?

Michael decides that he cannot afford the cost of a new set of tires for his car until after payday.Which state of the consumer buying process stages is he in?

Product positioning is most closely related to the "place" element in the marketing mix.

________ is segmentation by such traits as age,income,gender,ethnicity,and marital status.

What is branding? Why do companies engage in branding?

Marketing is an organizational function and a set of processes for creating,communicating,and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

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.Ginny and RJ are correct: ComicalYou becomes a hit with young people,even with a $5 per month subscription fee.Within two years,it becomes the number one online destination for people in their teens and twenties,and usage soars.An online social network introduces a comics creation tool to compete with ComicalYou for 10 cents per message.What marketing strategy is most appropriate for this stage of the product life cycle?

Diana is going to be married soon,and she is shopping around for a wedding gown.For Diana,a wedding gown is a shopping good.

Explain how marketers identify different market segments.

A company decides to introduce a line of crackers made with organically grown grains and vegetables.What environmental trend is the company responding to?

A TD Canada Trust advertisement that emphasizes non-traditional extended banking hours is an example of

Product X is just beginning to generate a profit for the first time as the manufacturer lowers prices slightly and sees a significant increase in sales.At what stage in the product life cycle is Product X?

If you were the manager for a local bulldozer dealer,which promotion tool would likely be the best method to sell high-priced bulldozer?

Snazzy Sodas is known for its variety of all-natural sodas as well as its efforts toward social responsibility.The company has decided to produce a new line of energy drinks,and while it does not have the resources to promote its product widely,it can make a sizeable impact with a carefully chosen market segment.The CEO favours marketing the product primarily to young males,but the VP of operations recommends targeting female professionals. Which of the following,if true,would weaken the CEO's position?

The best segmentation for small drug stores or dry cleaners would be

You are asked to justify market research for a new product.You explain that it is required

Describe the four types of brand names and give an example of each.

Snazzy Sodas is known for its variety of all-natural sodas as well as its efforts toward social responsibility.The company has decided to produce a new line of energy drinks,and while it does not have the resources to promote its product widely,it can make a sizeable impact with a carefully chosen market segment.The CEO favours marketing the product primarily to young males,but the VP of operations recommends targeting female professionals. Which of the following,if true,would support the CEO's position?

What type of goods includes raw materials and integrated circuits?

Which of the following is true with regard to the concept of the value package?