question

New product development starts with_____

answer

Idea Generation

question

Executive, manufacturing employee, and salespeople are all examples of _____

answer

Internal sources for new-product ideas

question

In the concept testing stage of new product development, a product concept in ______ form is presented to groups of target consumers

answer

Physical or symbolic

question

After concept testing, a firm would engage in which stage in developing and marketing a new product?

answer

Marketing strategy development

question

During which stage of new-product development will management most likely estimate minimum and maximum sakes ti access the range of risk in launching a new product?

answer

Business Analysis

question

In the _____ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them

answer

product development

question

Introducing a new product into the market is called______

answer

test marketing

question

Increasing profits will most likely occur at which stage of the PLC

answer

Growth

question

All of the following are accurate descriptions of a style, Except which one?

answer

Styles last only a short time and tend to attract only a limited following

question

Flurrbies, winter accessories which fell in and out of favorability with customers quickly, are example of a _____

answer

fad

question

Price is the only element in the marketing mix that produces____

answer

revenue

question

Value-base pricing is the reverse processor ____ pricing

answer

Cost-based

question

_____ involves charging a constant low price with few or no temporary price discounts

answer

everyday low pricing (EDLP)

question

Fixed costs____ as the number of units produced increases

answer

remain the same

question

Costs that do not vary with production or sales level are referred to as ____ costs

answer

Fixed

question

Costs that vary directly with the level of production are referred to as ____ costs

answer

variable

question

____ are the sum of the ____ and ___ for any given level of production

answer

Total costs, fixed, variable

question

Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ______

answer

market-skimming pricing

question

By definition, this type of pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differenced in cost

answer

segmented pricing

question

What type of pricing is being used when a company temporarily prices its product below the list price or even below costs to create buying excitement and urgency?

answer

promotional pricing

question

_____ calls for testing new-product concepts with groups of target consumers

answer

concept testing

question

_____ is the product life cycle period when sales fall off and profit drops

answer

decline

question

All of the following are stages the PLC, Except which one?

answer

Adoption

question

in which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

answer

introduction

question

In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?

answer

Growth

question

In the _____stage, the firm faces a trade-off between high market share and high profit

answer

growth

question

______ are less frequently purchased consumer products and services that customers compare carefully on stability, quality, price and style. Consumers spend comparisons about these products

answer

shopping products

question

____are less frequently purchased consumer products and service that customers compare carefully on much time and effort in gathering information and making comparisons about these products

answer

Shopping product

question

____ consists of activities undertaken to create, maintain, or change the attitude and behaviors of target consumers toward an individual

answer

person marketing

question

______ is the process of evaluating the attractiveness of the different market segments and selecting one or more segments to enter

answer

market targeting

question

____ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers

answer

positioning

question

Senz, an automobile manufacturer, produced low-end vehicles that are targeting toward lower-income consumer groups. Send most likely segments the consumer market based on _____ variable

answer

Demographic

question

Pacific fisheries group its customers by regions in the u.s. such as midwest, northeast, and southwest. For each region, pacific fisheries tailors and different set of advertisements and promotions. Based on which of the following segmentation variables does the firm divide its market?

answer

Geographical location

question

ProFem Inc. Caters its line of sports exclusively to women. What type of segmentation does the company use?

answer

Gender

question

Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called_____ segmentation

answer

Behavioral

question

Firms that manufacture seasonal products target their consumers primarily through ____ segmentation

answer

Occasion

question

Market segments that can be effectively reaches and served are said to be ____

answer

accessible

question

When a market segment is large or profitable enough to serve, it is termed____

answer

Substantial

question

Marketing the same product to a huge customer base without any customization is referred to as ____

answer

mass marketing

question

The practice of tailoring products and marketing programs to suit the tastes of specific individuals and location is referred to as _____

answer

micromarketing

question

Rad, a manufacturer of luxury watches, charges a higher price for it product than its competitors. Despite the high price, the brand is popular among customer for it quality and service in comparison to cheaper alternative available in the market. In this case rad offers ____ value proposition

answer

more- for more

question

Which positioning strategy offers value for consumer by providing the same brands a competitors at a lower price?

answer

the same for less

question

using____ positioning strategy, companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price

answer

more for less

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