Exam 11: Marketing Processes and Consumer Behavior

Burberry is repositioning itself as a global luxury brand, such as Gucci and Louis Vuitton, and calls for luring a different type of customer. This is an example of what type of market segmentation?

Product differentiation is selecting the best price at which to sell a product.

Which of the following, if True, would weaken the VP of Operation's position?

What type of good is a custom-made wedding gown classified as?

Hilltel's CEO thinks that having a standardized marketing strategy will enable the company to control and plan production better. Which of the following, if True about using a single marketing approach, would strengthen her case?

Geographic variables describe populations by identifying traits, such as age, income, gender, ethnic background, marital status, race, religion, and social class.

Which is usually the first step in the marketing strategy?

What are target markets? Explain the role that target markets play in market segmentation.

What do B2B buyer-seller situations often involve?

Reading the relevant issues of Consumer Reports prior to purchasing a product is an example of what part of the consumer buying process?

What is the decision process by which customers come to purchase and consume products?

Which of the following is the best example of a B2B market transaction?

Why is it important for a company to develop new products?

Identify the ways that small businesses can benefit from an understanding of the marketing mix.

Little Earth Productions is a company that makes fashion accessories such as handbags. After examining shopping habits, what should they focus on for better visibility of the product for customers?

Describe the three types of brand names and give an example of each.

Bill is looking for an insurance policy at an affordable price. What type of good or service is he looking for?

Where would athletic shoes fit into the product life cycle?

Which of the following practices would support the CEO's argument?

The reseller market includes farmers, manufacturers, and some retailers.