Question 1

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

Accepted Answer

The answer of Briefly describe the characteristics of each of...

Question 2

A detailed and focused strategy for gearing marketing activities to meet consumer needs and wants is called a
promotion plan.
product positioning.
sales plan.
marketing plan.
marketing mix.

Accepted Answer

The answer of A detailed and focused strategy for gearing...

Question 3

________ must support the firm's operating costs, administrative costs, research costs, and marketing costs such as advertising and sales salaries.
Product differentiation
Price
Product
Place
Promotion

Accepted Answer

The answer of ________ must support the firm's operating costs,...

Question 4

You are asked to come up with a new widget. What would your first step be?
Idea screening
Idea generation
Commercialization
Business analysis
Test marketing

Accepted Answer

The answer of You are asked to come up with...

Question 5

Unlike most consumers, organizational buyers are professional, specialized, and expert.

Accepted Answer

A) True 
 B)False

Question 6

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.
post-purchase evaluation
purchase decision
evaluation of alternatives
information seeking
problem recognition

Accepted Answer

The answer of To help you decide which new suit...

Question 7

Why are businesses interested in the development of new products?
The federal government encourages every product manufacturer to spend 1% of revenue on new product development.
New products are necessary to stay in business.
New products keep the warranty and service departments busy.
New products provide the fun that marketing managers need.
Product development provides an opportunity for large tax write-offs.

Accepted Answer

The answer of Why are businesses interested in the development...

Question 8

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

Accepted Answer

The answer of Describe the four types of brand names...

Question 9

In which stage of product development does market research have a major role?
Prototype development
Commercialization
Business analysis
Product testing
Concept testing

Accepted Answer

The answer of In which stage of product development does...

Question 10

________ is the process of planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
Promotion
Relationship marketing
Marketing
Market strategy
Market segmentation

Accepted Answer

The answer of ________ is the process of planning and...

Question 11

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?
Nominal scaling
Focus groups
Observation
Survey
Experimentation

Accepted Answer

The answer of While Sylvia has not asked teenage consumers...

Question 12

When UPS asked customers how the company could improve its service, UPS was using
video mining.
observation.
experimentation.
focus groups.
surveys.

Accepted Answer

The answer of When UPS asked customers how the company...

Question 13

The information that Statistics Canada provides on the Canadian economy is an example of
secondary data.
statistical variance analysis.
primary data.
a demographic variable.
product research.

Accepted Answer

The answer of The information that Statistics Canada provides on...

Question 14

Coca-Cola, Pepsi-Cola, Kleenex, and Chevrolet are examples of
private label.
brand names.
product names.
product line names.
public label.

Accepted Answer

The answer of Coca-Cola, Pepsi-Cola, Kleenex, and Chevrolet are examples...

Question 15

What is the first step in the consumer buying process?

Accepted Answer

The answer of What is the first step in the...

Question 16

No business can undertake marketing activities without a product, i.e., a good, a service, or idea that attempts to fulfill consumers' needs.

Accepted Answer

A) True 
 B)False

Question 17

What is brand equity?

Accepted Answer

The answer of What is brand equity?...

Question 18

When Reader's Digest identified and classified its readers into young adults, computer owners, and professionals/managers, it was using
prospect identification.
potential customer categorizing.
customer identification.
product differentiation.
market segmentation.

Accepted Answer

The answer of When Reader's Digest identified and classified its...

Question 19

Psychographic variables are more difficult to change than demographic variables.

Accepted Answer

A) True 
 B)False

Question 20

Craftsman tools (Sears), Life products (Shoppers Drug Mart), and President's Choice (Loblaws) are all examples of ______ brands.
national
licensed
generic
private
value-added

Accepted Answer

The answer of Craftsman tools (Sears), Life products (Shoppers Drug...

Exam 12: Understanding Marketing Principles and Developing Products

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

A detailed and focused strategy for gearing marketing activities to meet consumer needs and wants is called a promotion plan. product positioning. sales plan. marketing plan. marketing mix.

________ must support the firm's operating costs, administrative costs, research costs, and marketing costs such as advertising and sales salaries. Product differentiation Price Product Place Promotion

You are asked to come up with a new widget. What would your first step be? Idea screening Idea generation Commercialization Business analysis Test marketing

Unlike most consumers, organizational buyers are professional, specialized, and expert.

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

In which stage of product development does market research have a major role? Prototype development Commercialization Business analysis Product testing Concept testing

________ is the process of planning and executing the development, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Promotion Relationship marketing Marketing Market strategy Market segmentation

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? Nominal scaling Focus groups Observation Survey Experimentation

When UPS asked customers how the company could improve its service, UPS was using video mining. observation. experimentation. focus groups. surveys.

The information that Statistics Canada provides on the Canadian economy is an example of secondary data. statistical variance analysis. primary data. a demographic variable. product research.

Coca-Cola, Pepsi-Cola, Kleenex, and Chevrolet are examples of private label. brand names. product names. product line names. public label.

What is the first step in the consumer buying process?

No business can undertake marketing activities without a product, i.e., a good, a service, or idea that attempts to fulfill consumers' needs.

What is brand equity?

When Reader's Digest identified and classified its readers into young adults, computer owners, and professionals/managers, it was using prospect identification. potential customer categorizing. customer identification. product differentiation. market segmentation.

Psychographic variables are more difficult to change than demographic variables.

Craftsman tools (Sears), Life products (Shoppers Drug Mart), and President's Choice (Loblaws) are all examples of ______ brands. national licensed generic private value-added