Exam 12: Understanding Marketing Principles and Developing Products

Hansen Trucking Company transports detergent from a loading dock in Toronto to a supermarket shelf in Sherbrooke. This is a(n) ________ element of the marketing mix. ownership form time product place

Lexington Corp. has been involved in a new product development process for several months. They have completed several preliminary tasks, the most recent of which was estimating costs and benefits for a proposed new product. What should they do next? Business analysis Test marketing Product testing Concept testing Prototype development

Multicultural marketing is part of market segmentation by psychographics. demographics. geography. product-use. attitudes.

Psychographics, like demographics and geographics, are seldom changed by marketing efforts.

Bread is an example of a(n) _____________, while the catering for a wedding reception is an example of a(n) _____________. shopping good; shopping service convenience good; specialty good specialty good; specialty service convenience good; specialty service shopping good; shopping good

Packaging costs can be as high as 15 percent of the total cost to make a product.

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

Perceptions are included in the category "personal influences," while reference groups are included in the "social influences" category.

Batson Corp. marketing staff have developed a long list of possible new product ideas. In terms of the new product development process, what should they do next? Business analysis Screening Product testing Concept testing Prototype development

Which category of influences on consumer behaviour includes ethnic groups, social class, occupation, and income? Past experience Psychological Social Cultural Personal

The 4 P's of marketing include all of the following except product. place. price. promotion. profit.

What kind of business activity is a grocery store engaged in when it sells meat to a homemaker? Consumer marketing Disaggregate marketing Product differentiation Industrial marketing Market planning

What is the last step in the consumer buying process? __________

You and your spouse notice that the sports car you currently own is not going to be suitable for travelling when the new baby comes along. You are in the problem recognition stage of the consumer buying process.

A model of the consumer buying process shows that the search for information is the first stage of the buying process model.

When is market research used most frequently? When a new or altered product is being considered When a product is out of stock When the promotional campaign is first under way When the product is fully stocked in each of the distribution centres When determining the reason for a product's failure

In 2013, ______ companies were at the top of the "brand value" list. oil and gas pharmaceutical technology automobile luxury goods

Give some specific examples of how some companies have capitalized on changing demographics.

If Brighten Your World Inc. sells its light bulbs to the Jacobs Motor Company to be used in all of their cars as headlights, Brighten Your World is engaging in what type of marketing activity? Marketing research Consumer marketing Relationship marketing Aggregate marketing Industrial marketing

According to the marketing concept, the firm must coordinate its marketing and non-marketing activities. customer satisfaction is the firm's only objective. maximum short-run profit is the firm's only objective. the marketing department should function independently of the rest of the firm. the finance area becomes critically important because ways must be found to pay for all the marketing research activity that is necessary.