Exam 12: Understanding Marketing Principles and Developing Products

Specialty goods are important and expensive purchases for the buyers who decide on what they want,and they accept no substitutes.

The comments of people in a focus group are taped,and researchers go through the data looking for common themes in participants' comments.

Sally spent the day in the local grocery store passing out free samples of a new potato chip brand.Sally gave every second customer the new chip with dip and every other customer the new chip without dip.What type of research was Sally conducting?

What are no-frills products sold under the general category name rather than a specific company name called?

What kind of business activity is a grocery store engaged in when it sells meat to a homemaker?

Bentley Corp.is involved in the new product development process.Their first step was to solicit ideas for a new product from the company's sales force,the research and development group,and the engineering department.Their next step is to use market research to solicit consumers' input about the ideas they are working on.

Which defining word or phrase below best captures the meaning of capital items?

What is an inexpensive good or service purchased and consumed rapidly and regularly called?

Packaging serves one primary function: to protect the product during shipping.

Which of the following should be considered in the demographic variables for market segmentation?

A car like the Chevrolet Cruze tends to be positioned based on economy,while a Porsche tends to be positioned based on performance.

While Sylvia has not asked teenage consumers any questions,she has noted that they tend to purchase green nail polish,as opposed to purple.Which research method has Sylvia used?

Value is determined by comparing a product's ________;the formula requires dividing ________.

Suppose that you have just obtained your first job after graduation,and you conclude that your new income will allow you to purchase items that were once too expensive for you.You are in the information seeking stage of the consumer buying process.

Market segmentation and product differentiation are almost identical concepts,except that market segmentation puts more emphasis on "price" while product differentiation puts more emphasis on "promotion."

Primary data are

On the first day of your new job,you notice that your wardrobe is not up to company standards.You are at the ________ stage of the consumer buying process.

Describe the four major influences on consumer behaviour.

During this stage of a product's life cycle marketers focus on making potential consumers aware of the product and its benefits.Profits are non-existent or small.This is the ________ stage.

People with similar wants and needs constitute ________,which clearly requires ________.