Exam 12: Understanding Marketing Principles and Developing Products

Which of the following should be considered in the demographic variables for market segmentation? How the product will be used (e.g., athletic footwear vs. dress shoes) Interests, attitudes, and opinions of consumers Income levels, marital status Trends in population shifts Where people live

Starbucks's Card Rewards attracts return customers with free coffee refills and other extras. This is an example of industrial marketing. relationship marketing. consumer marketing. marketing research. international marketing.

How does the product life cycle mesh with the product development process? Product commercialization is the start of the introduction stage of the life cycle. Commercialization indicates that the product has become a "star." Prototype development is the start of the introduction stage of a life cycle. Product testing and test marketing take place during the growth stage of the life cycle. The two do not mesh.

Since a person's cholesterol level can be controlled with either a physical-fitness program or a drug regimen, this means that fitness programs and cholesterol drugs compete as substitute products.

Automobiles, colour TVs, and DVD players are in the ________ stage of their product life cycle. introduction growth decline maturity development

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.

Sara's parents will be celebrating their fiftieth wedding anniversary. Sara is planning to have the party catered. The catering is considered a specialty service. a convenience good. a specialty good. a shopping good. a shopping service.

Penelope's Pizza, a local chain of carryout restaurants, has made the decision to expand to a national basis. It plans to open 50 Penelope's in 20 cities across the country within the next two years. In order to efficiently integrate all the tools and company resources to maximize the impact on new customers, Penelope's Pizza is considering using an integrated marketing strategy to promote a coherent national brand perception. The account manager argues that an integrated marketing strategy is the way to go, but the CEO argues that each local community is different, and the needs, values, and norms of the host cities should drive the marketing campaign. Which of the following practices would support the CEO's argument? Penelope's Pizza decides to pursue a co-branding partnership with either Pepsi or Coke. Penelope's Pizza employees all must wear the same uniform. Penelope's corporate website has links to individual stores for ordering pizza online. All Penelope's Pizza restaurants have an art deco interior design. Penelope's Pizza encourages individual stores to create their own menu options and pricing structure.

Harley-Davidson's famous logo is emblazoned on products such as boots, eyewear, gloves, purses, lighters, and watches, and the motorcycle maker receives more than $210 million annually from fees it receives. This is an example of a _________ brand. national licensed generic private value-added

Marketing plans, decisions, and strategies are not determined unilaterally by any business. Rather, they are strongly influenced by powerful environmental forces.

A group of people in Canada buy all Express Yourself fashion products because they feel the clothes relate to their rebel lifestyle. What kind of segmentation would best help you define this group of individuals? Intrinsic segmentation Psychographic segmentation Demographic segmentation Geographic segmentation Product-use variables segmentation

Otto's Office Products is a large national company selling office supplies to businesses and everyday consumers. It is compiling an in-house data warehouse in order to identify customers and build relationships with them. The IT department has recommended that Otto's use data mining to build customer profiles and prepare business models to predict future purchasing behavior. Otto's CEO is not in favor of data mining, and argues that it shouldn't be used. Which of the following statements, if true, would support the CEO's argument for NOT using data mining? Data mining can build profiles of Otto's best customers and then use behavioral characteristics to identify new customers. Data mining is helpful to salespeople as it can identify customers that would benefit from an individual sales call, or provide them with buying reminders for particular products. Data mining can be used to track online behavior of the customers by the use of cookies, and identify customer interests and business needs. A privacy paradox exists whereby mining personal information is intrusive, but also leads to better targeting. Data mining can help spot trends and patterns in customer purchases, and enable the marketing department to shape advertising around these trends.

Rob has decided to buy a new computer based on the relatively low costs, the features he can get, the warranty that comes with the computer, and the overall usefulness it will provide. He has made his decision based on rational motives. irrational motives. subjective motives. analytical motives. emotional motives.

Who has the responsibility for developing the plan to introduce a new product, service, or idea? Quality assurance manager Marketing manager Production manager Planning manager Warehouse manager

Large promotion expenditures are needed in the growth stage of the product life cycle in order to build brand preference for a new product.

What are the four principal elements of marketing which managers rely on in planning and implementing marketing strategies?

The major influences on consumer behaviour are psychological, personal, social, and cultural.

The best segmentation for small drug stores or dry cleaners would be geographic. demographic. geo-demographic. product-use. psychographic.

What is a consumer good?

In the 2013 BrandZ Top 100 Global Brands Ranking, the three most successful brands in the world were Apple, Google, and IBM.