Exam 12: Understanding Marketing Principles and Developing Products

How does a product mix differ from a product line?

Hydraulics Inc. makes filters for manufacturing companies. What kind of marketing is it engaged in? Consumer marketing Disaggregate marketing Market planning Industrial marketing Product differentiation

A few marketing powerhouses like Coca-Cola and Procter & Gamble can develop their marketing strategies without too much concern about the external marketing environment.

Hilltel sells mobile phones and other handheld devices. The company has decided to sell its products internationally and is considering using a standardized marketing approach wherever it sells its products. Hilltel's head of marketing thinks that a standardized marketing strategy will allow the company to portray a consistent global brand. Which of the following, if true about using a single marketing approach, would strengthen his case? The company would face more competition overseas than otherwise. The company's products would need to be of the most recent technology. The prices of the company's products will be the same everywhere in the world. An international marketing team would need to be hired to craft an appropriate strategy. The company's products could be standardized accordingly.

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? Dinasonic has won awards for its advertising campaigns. Consumers in most countries are attracted to Canadian consumer goods. Laws regulating advertising vary between different countries. Dinasonic has several sales managers experienced in international sales. The company is planning to subcontract some of its international sales operations.

Multiple product lines allow a company to grow more rapidly and minimize the consequences of slow sales in any one product line.

Goods which are very important, expensive, and rarely purchased are ________ goods. shopping impulse convenience coincidental specialty

Why is product development a long and expensive process?

What is the ratio for value?

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 favors marketing the product primarily to young males, but the VP of Operations recommends targeting female professionals. Which of the following questions is LEAST relevant to Snazzy Sodas' evaluation of the desirability of the young male market segment? What is the percentage of young males in the general population? What attitudes do members of this group likely have about Snazzy Sodas? How does the consumption of energy drinks by young males compare to the consumption patterns of other groups? Would Snazzy Sodas be likely to target young males if it were producing a different product? Are young males likely to consider a company's reputation for social responsibility when they purchase energy drinks?

All of the following are reasons for packaging products except the package serves as an in-store advertisement. the package serves as an attractive display. the package provides reassurance of safety for consumption of the product. the package is harmful to the environment. the package reduces the risk of damage, breakage, or spoilage.

Branding is a process of using symbols to communicate the qualities of a particular product made by a particular company.

List the five common methods of segmenting consumer markets.

The four elements in the marketing mix are generally equally important.

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 favors 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 VP of Operation's position? Success in the energy drink market was an important goal mentioned in the company's annual report. Young males have demonstrated low awareness of many soda brands. Professionals tend to have more disposable income than nonprofessionals. Concern over social responsibility is rising across a wide variety of market segments. Professionals are more likely than nonprofessionals to be concerned about the long-term health effects of energy drinks.

Harley-Davidson offers social incentives through the Harley Owners Group (H.O.G.), the largest motorcycle club in the world. This is an example of industrial marketing. relationship marketing. consumer marketing. marketing research. international marketing.

What are three functions of packaging?

Segmentation is a strategy for analyzing consumers, not products.

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 value package. emotional advertising. institutional advertising. product differentiation. focusing on the visible features of a product.

Video mining is used by retailers mainly to catch shoplifters.