Exam 11: Product and Promotion: Creating and Communicating Value

Which of the following are tools commonly used in consumer promotion?

What are businesses most concerned with when purchasing raw materials?

Integrated marketing communication (IMC) is used to coordinate the delivery of a consistent message to consumers through multiple promotional channels.

Discontinuous innovation occurs when marketers find a new use for an existing product or technology.

Changes in technology have given consumers the power to control how and when marketing messages are received.

What do we call anything that an organization offers to satisfy consumer needs and wants, including both goods and services?

Margo has decided to join Tone-It-Up Fitness in an effort to become physically fit. The core benefit Margo is seeking revolves around her desire to become more physically fit.

As a product moves through the stages of the product life cycle, marketers normally will find which of the following to be true?

Coupons and samples are examples of publicity tools used by marketers.

What strategy is your favourite ice cream maker following when it releases new flavours?

The positioning statement is what creates a "hook" for the brand in the consumer's mind.

The last stage of the new product development process is commercialization, which involves introducing the product to the general market.

There are six key stages in the sales process. Define and describe each.

It is much easier to get repeat sales from existing customers than it is to find brand new prospects.

Nike's "Just Do It" and Walmart's "Always low prices. Always!" are two examples of successful big ideas.

Which of the following is most likely to be classified as a dynamically continuous innovation?

Consistency in quality tends to be very high for most services.

Which of the following are marketers NOT able to directly control?

Accessory equipment includes large capital purchases designed for an extended productive life.

Studies have shown that about 27 percent of consumers can be classified as first adopters. They are the people who are willing to try new and unproven products. The remaining consumers tend to take a wait-and-see attitude before they will buy the product.