Exam 12: Understanding Marketing Principles and Developing Products

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?

Rondell Corp. is involved in a market research program. They have already studied the current situation to discover customer needs and what is being done to meet those needs. What should they do next?

B2B markets account for more than twice the sales of the B2C market.

The information that Statistics Canada provides on the Canadian economy is an example of

To help you decide which new suit to purchase for your job interview, you ask a trusted friend to give you her opinion on each of the suits you're looking at. You are in the ________ stage of the consumer buying process.

What is a product feature?

As Bill enters the store, he notices a shirt that he likes and decides to buy it even though he came into the store looking for pants. He has made a(n) ________ decision.

Surveys may vary widely in their accuracy.

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

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 favours marketing the product primarily to young males, but the VP of operations recommends targeting female professionals. Which of the following, if true, would most strongly support the VP of operation's position?

Briefly describe the characteristics of each of the four stages in the product life cycle.

Assume that you went to a shopping mall to determine people's attitudes toward a new peanut butter and pickle flavour ice cream. You would be collecting ________ data.

A group of people may share an age category, income level, or some other segmentation variable, but their spending habits may be quite different.

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

In consumer behaviour, what is the name for the influences that include the "way of living" that distinguishes one large group from another and one ethnic group from another?

Craftsman tools (Sears), Life products (Shoppers Drug Mart), and President's Choice (Loblaws) are all examples of ________ brands.

Bread is an example of a(n) ________, while the catering for a wedding reception is an example of a(n) ________.

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 favours 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's evaluation of the desirability of the young male market segment?

Which defining word or phrase below best captures the meaning of capital items?

In the 2014 BrandZ Top 100 Global Brands Ranking, the three most successful brands in the world were Apple, Google, and IBM.