Exam 12: Understanding Marketing Principles and Developing Products

The study of what buyers need and how best to meet those needs is known as marketing. market research. psychographics. market segmentation. market stimulation.

________ is the study of the decision process by which customers come to purchase and consume products. Customer buying logic Purchase decision model End-user purchase behaviour Consumer behaviour Buyer behaviour

What is a value package?

A restaurant like Olive Garden is classified as a "pure" service.

________ are particularly important to marketers because marketers can, through marketing efforts, sway consumers' likes and dislikes. Demographics Geographics Marital status and age Psychographics Product-use

During this stage of the product life cycle, the promotion strategy is to emphasize brand differences and benefits. This is the ________ stage. introduction decline maturity growth development

The best way to segment the market for umbrellas is probably by geographic variables. behavioural segmentation. psychographic variables. geo-demographic variables. demographic variables.

Which of the following is correct with regard to the elements in the marketing mix? Of the four elements, "product" is generally least important. The elements are all equally important, regardless of the product being sold. Price plays a small role in fresh meat, but a relatively larger role in selling newspapers. Distribution is not very important in marketing gasoline, but it is important for lumber. Promotion is vital in selling toys, but much less important in selling nails.

Marketing focuses largely on consumer goods and less on consumer services.

Product "features" refer to both the tangible and intangible qualities of a product.

What is a benefit?

The influence category which includes "lifestyle" is __________, while the category that includes an individual's "motivations" is _________. personal; psychological psychological; social cultural; social social; cultural social; psychological

The process of using symbols to communicate the qualities of a product made by a particular producer is called branding. product differentiation. promotion. publicity. advertising.

Which of the following is correct with respect to surveys? Questionnaires are not generally necessary in surveys. The accuracy of surveys is routinely very high. When using surveys, a random sample is usually better than a representative sample of consumers. Online surveys are growing in popularity because the company gets immediate results. All of these

Consumers are more likely to tell the truth in focus groups than they are when filling out surveys.

You have just purchased a new Chevrolet. While driving, you notice that a new Ford has stopped beside the road and has its hazard lights blinking. You smile but decide to stop to help out. You are in the evaluation of alternatives stage of the consumer buying process.

Advertising to make people more aware of the hazards of drinking and driving is an example of industrial marketing. relationship marketing. service marketing. idea marketing. consumer marketing.

Before buying a new cell phone, you might read about different brands, or ask a sales clerk for a recommendation, or rely on your own past experience. All of these actions illustrate that you are in the information seeking stage of the consumer buying process.

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.

What is product positioning? Give examples.