Exam 12: Understanding Marketing Principles and Developing Products

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

A TD Canada Trust advertisement that emphasizes non-traditional extended banking hours is an example of

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?

Burberry, whose plaid-lined gabardine raincoats have been a symbol of British tradition since 1856, is repositioning itself as a global luxury brand like Gucci and Louis Vuitton. This is an example of behavioural segmentation.

A newspaper, coffee, and an Egg McMuffin at McDonald's are all consumer convenience goods.

How might economic environmental factors affect the business of Panther Shoes, a manufacturer of athletic apparel?

Why is product placement important?

What is a target market?

What is a target market?

While Sylvia has not asked teenage consumers any questions, she has noted that they purchase green nail polish, as opposed to purple. Which research method has Sylvia used?

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.

ComicalYou is a new social media service in which participants create avatars to represent themselves, describe their lives, and interact with one another. All the postings are graphical, presenting the messages in the form of comic panels and strips. The service's software easily converts ideas into whimsical images. The site's creators, Ginny and RJ, believe that ComicalYou will be especially appealing to young people because it is so effective in conveying emotional content with a lighthearted appeal. They, along with a team of six employees, have completed the software, tested it on two dozen of their closest friends, and are eager to open up their site to users. Ginny and RJ are correct: ComicalYou becomes a hit with young people, even with a $5 per month subscription fee. Within two years, it becomes the number one online destination for people in their teens and twenties, and usage soars. An online social network introduces a comics creation tool to compete with ComicalYou for 10 cents per message. What marketing strategy is most appropriate for this stage of the product life cycle?

The study of what buyers need and how best to meet those needs is known as

Coca-Cola, Pepsi-Cola, Kleenex, and Chevrolet are examples of

________ are particularly important to marketers because marketers can, through marketing efforts, sway consumers' likes and dislikes.

The importance of ________ in marketing can be seen in the example of the introduction of "Crayola IQ" colour pencils because crayons were seen as too "babyish" by 8 to 12 year olds.

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

In the concept testing stage of the seven-step development process, companies use market research to solicit consumers' input.

When Maytag created the perception that its products were more reliable (by showing a lonely repair person with nothing to do) it was using a(n) ________ strategy.

Suppose Mr. Tyler is coming home from a business trip. It is late at night, his cab is waiting, and he suddenly remembers that he forgot to buy his wife a gift. The only shop in the airport that is open sells souvenir T-shirts. Mr. Tyler quickly buys a shirt for $14.95. For him, the shirt was a(n) ________ good.