Exam 12: Understanding Marketing Principles and Developing Products

Which of the following is the best example of an emotional motive in consumer purchasing?

The new product that Bellson Corp. introduced last year is now experiencing rapidly increasing sales, and the product has begun to show a profit. But Bellson notices that two competitors have recently introduced a similar product. This is what happens in the ________ stage of a product's life cycle.

What is the difference between consumer goods and industrial goods?

The term "product" in the marketing mix includes physical goods but not services.

A chef purchases a new oven for her restaurant's kitchen. Explain whether the chef is buying a capital item or a production item.

Goods which are very important, expensive, and rarely purchased are ________ goods.

After asking people about their "desired scent experience," Procter & Gamble developed Febreze Scentstories, a product that gives off 5 different scents every 30-minutes. They did this after using what approach to data gathering?

________ is the study of the decision process by which customers come to purchase and consume products.

What is a value package?

Audiocassette tapes, rotary telephones, and black and white TVs are in the ________ stage of their product life cycles.

A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to?

Burberry is repositioning itself as a global luxury brand, such as Gucci and Louis Vuitton, a strategy that calls for luring fashion-conscious customers. This is an example of what type of market segmentation?

How does a product mix differ from a product line?

Hostess Frito-Lay, the maker of Doritos, spent a year studying how to best reach its target market (teenagers). The researchers hung around shopping malls, schools, and fast-food outlets to watch teens. This is an example of primary data gathering.

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

What are the four categories of brand names?

It is estimated that it takes 100 new product ideas to generate 1 product that finally reaches the marketplace. Even then, only a few of those become successful products.

Hydrogen fuel cells and solar-powered cars are in the ________ stage of their product life cycles.

Briefly explain what occurs in each stage of the new product development process.

When you obtain your first job after graduation, your new income may let you purchase items that were once too expensive. You would be in what stage of the consumer buying process?