question

demands

answer

When backed by buying power wants become

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Market Offering

answer

A _________ is some combination of products, services, information, or experiences provided to consumers to satisfy a need or want

question

market Myopia

answer

What term refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs

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Exchange

answer

_____ is the act of obtaining a desired object from someone by offering something in return

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marketing

answer

Consumer research, product development, communication, distribution, pricing, and service are all core _____ activities

question

target marketing

answer

Selecting which segments of a population to serve is called

question

Market Segments

answer

An organic farmer has identified three distinct groups that might be interested in his products: vegetarians, health conscious individuals, and people identified as trendsetters who try out new products in the market before others. These three groups are examples of _______.

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Value Proposition

answer

Which of the following refers to a set of benefits that a company promises to deliver to customers to satisfy their needs?

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"Why should i Buy your brand rather than a competitors"

answer

Which of the following customer questions is answered by a company's value proposition?

question

business portfolio

answer

The collection of businesses and products that make up a company is called its

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Strategic Business unit (SBU)

answer

The key businesses of kimberly and Price consist of a division that produces and sells breakfast cereals and another that manufactures gardening tools. Each of these businesses is called a

question

Cash Cows

answer

_____ are low growth, high share business/products that need less investment to hold their market share.

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Question Marks

answer

______ are low share business units in high growth markets that require a lot of cash to hold their share

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Divest

answer

A company can _____ an SBU by selling it or phasing it out and using the resources elsewhere

question

Market Penetration

answer

Phoenix, a popular coffee shop chain in North America, recently opened 400 stores to cater to its rapidly increasing number of patrons. This exemplifies ________

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Market Development

answer

The managers of Arrow, an american retail chain are currently reviewing new demographic markets to sell the firms current products. This is an example of _____

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Diversification

answer

Amor, a successful brand of womens clothing recently introduced a line of fitness equipment. This is an example of ____.

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Microenvironment

answer

Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such s the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the _______ of the company.

question

Macroenvironment

answer

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, sam has been directed to study the ____ of the organization.

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Supplier

answer

Sparex Inc. is a manufacturer of metal bolts that are used by Boilex Inc. to manufacture heavy machineries. In this instance, spare acts as a _____.

question

Physical distribution firms

answer

Landport transportation and Omega Warehousing help companies move and stock goods from their manufacturing plants to their destinations. These two businesses are examples of ____.

question

Baby Boomers

answer

Among the generational groups in the US population, the ____ are still the wealthiest generation in US history.

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They were the first to grow up in the Internet Era

answer

Which of the following is true of Gen Xers?

question

Millennials

answer

Which of the following generational groups is most comfortable with digital technology and embraces technology?

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the low percentage of married couples with children

answer

Which of the following is a trend that depicts the increasingly nontraditional nature of todays american families?

question

The Northeast states

answer

which of the following has lost population?

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Manufacturing Workers

answer

In the US, job growth currently is the weakest for ____

question

By 2050 hispanics are estimated to be 30 percent of the population

answer

Which of the following is an accurate statement about the diversity of the American population?

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Packaging

answer

Marketing Stimuli consist of the four P's. Which of the following in NOT one of these?

question

Hispanic Americans

answer

Which consumer group tends to show more brand loyalty and make shopping a family event, with children having a big say in the purchase decision?

question

subculture

answer

Hispanic Americans tend to be deeply family oriented and make shopping a family affair. Older consumers are brand loyal while younger hispanics have shown increasing price sensitivity and willingness to choose store brands. Hispanic americans make up a ________.

question

Asian American

answer

_______ consumers are the most affluent US demographic segment and are expected

question

Social Classes

answer

______ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors.

question

Aspirational groups

answer

_____ are groups to which an individual wishes to belong, as when a young basketball players hopes to play someday for the los angeles lakers

question

reference group

answer

A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the comapnys shoes and hence purchase the same brand shoes. The shoe company believes that the band portrays the image of a ____ to the bands fans.

question

Opinion Leaders

answer

______ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others.

question

User- Controlled content

answer

Which of the following is characteristic of online social networks?

question

family

answer

What is the most important consumer buying organization in society?

question

the igeneration

answer

Generation Z is sometimes called

question

fewer and simpler ingredients

answer

packaged facts, a food and beverage market research firm, found 67% of consumers prefer:

question

read a Smart Label QR code

answer

to determine whether a food contains GMO ingredients in the near future, consumers will need to be able to:

question

Sparkling ICE

answer

One product bucking the downward trend in diet carbonated beverages is:

question

Buying behavior of the organization that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others

answer

Business Buyer behavior refers to the ______

question

Sue shops for her family's groceries at the local Whole Foods store

answer

Which of the following is NOT part of the business market?

question

far fewer but far larger buyers

answer

The business marketer normally deals with _____ than the consumer marketer does.

question

inelastic

answer

A university enrolled 200 graduate students in the Fall of 2011. however the enrollment rate was only slightly affected following a 12-percent hike in tuition the following fall. This illustrates _____ demand.

question

derived

answer

Demand for outboard motors depend on consumers purchasing fishing boats. this is an example of _____ demand.

question

Business purchases involve more professional purchasing effort than consumer purchases .

answer

Which of the following is true about business purchases?

question

supplier development

answer

the owners of a manufacturing firm in ohio have developed a core network of suppliers to ensure an uninterrupted supply of products. This is an example of ________

question

a straight rebuy

answer

Sigma inc., a software firm based in california, recorded 50 printers from the designated provider without any modifications. This is an example of ______

question

Modified rebuy

answer

In a ______ situation, the buyer wants to revise product specifications, prices, terms, or suppliers.

question

systems selling

answer

_______ refers to buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation.

question

buying center

answer

The decision making unit of a purchasing organization is called its ______

question

gatekeeper

answer

A ______ controls the flow of information of information to others in the buying center

question

user

answer

Pho Nyguen, a manufacturing mechanic, determines that the molds for manufacturing plastic jar lids are wearing out sooner than expected. Pho contacts her manager to request that the parts be reordered. In this instance, Phoi played the role of a ________.

question

Market Segmentation

answer

_______ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes.

question

Market Targeting

answer

When marketers at Fair and Leigh Inc. selected the millennial, a demographic group that includes many college students, as an untapped group of potential customers for their new line of products, they were engaging in _______.

question

Positioning

answer

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

question

Geographic Segmentation

answer

"Many companies today are localizing their products advertising, promotion, and sales efforts to fit the needs of individual regions, cities, and neighborhoods." This is an example of _______.

question

demographic segmentation

answer

Delta Motorworks markets its cars based on the age, gender, and income of its customers. Which of the following types of market segmentation is evident here?

question

Gender, Benefit

answer

_______ segmentation has been used in clothing, cosmetics, toiletries, and magazines.

question

psychographic segmentation

answer

marketers who use _____ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.

question

segmentation by usage rate

answer

a recent study conducted by estelle cosmetics company showed that heavy users of estelle's products comprise a small percentage of the market. the study indicated that less than 7 percent of all shoppers buy nearly 71 percent of estelle's products in the US. This is an example of

question

multiple segmentation bases help identify smaller, better-defined target groups.

answer

Which of the following i true about multivariable segmentation systems?

question

Political factors

answer

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ______.

question

Measurable

answer

When the size, purchasing power,a dn profile of a market segment can be calculated, the market is _________.

question

differentiable

answer

______ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs

question

accessible

answer

Market segments that can be effectively reached and served are ______

question

undifferentiated

answer

______ refers to a market coverage strategy in which a firm decides to ignore market segment difference and go after the whole market with one offer

question

differentiated marketing

answer

A market-converge strategy in which a firm decided to target several market segments and designs separate offer for each is known as _____.

question

micromarketing

answer

______ is the practice of tailoring products and marketing programs to suit the tastes of specific individual and location.

question

services are a form of product that consists of activities, benefits, or satisfaction offered for sale

answer

Which of the following is true with regard to services?

question

a bag of potato chips

answer

which of the following is an example of a pure tangible good?

question

a taxi ride

answer

which of the following product offerings is intangible?

question

office supplies

answer

______ are industrial products

question

fast food

answer

Which of the following is an example of a convenience product?

question

shopping

answer

erica wants to replace her old washing machine with a new one. in order to get the maximum value for her money, she plans to spend substantial time and effort in gathering information and making product comparisons before making the actual purchase. in this instance, erica is planning to buy a _________ product.

question

speciality products

answer

__________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

question

unsought products

answer

______ are consumer products that the consumer either does not know about or knows about tu

question

industrial

answer

______ products are those products purchased for further processing or for use in conducting business

question

capital items

answer

______ are industrial products that aid in the buyers production or operation, including installations and accessory equipment

question

operating supplies

answer

Lubricants coal paper and pencils are examples of ____

question

corporate image

answer

The advertising slogan "we bring good things to life" used by G E to market itself, is an example of _______ marketing

question

Person

answer

______ marketing consists of activities undertaken to create, maintain, or change attitudes toward particular people. people ranging from presidents, entertainers, and sports figures to professionals such as doctors, lawyers, and architects use it to build their reputations.

question

place

answer

tourism australia's global marketing campaign, "there nothing like australia" is an example of place marketing

question

social

answer

advertising campaigns involving issues ranging from healthcare, education, and environmental sustainability to human rights and personal safety can be classified under _____ marketing.

question

acquisition

answer

electron corp purchased proton corp. by buying all of its assets and ownership equity. this is an example of _____.

question

new products

answer

product improvements, product modifications, and original products can all be classified as _____.

question

idea generation

answer

new product development starts with ____

question

company executives

answer

which of the following is an internal source for new product ideas?

question

intrapreneurial

answer

many companies have developed ____ programs that encourage employees to develop new product ideas

question

suppliers

answer

Which of the following is an external source for ideas?

question

crowdsourcing

answer

which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new product innovation process?

question

idea screening

answer

executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the _____ stage.

question

concept

answer

a detailed version a new idea stated in a meaningful customer terms is called a product _______.

question

product image

answer

a ________ is the way consumers perceive an actual or potential product

question

market strategy development

answer

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

question

business analysis

answer

Once managers of the Grecian Um have decided on their product concept and marketing strategy, they can evaluate the businesses attractiveness of the proposal in the _______ stage of the new product development

question

product development

answer

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

question

Test marketing

answer

Once the prototype of wainwright industries new riding lawnmower, made especially for women, passes tests, the next step is ________.

question

One of the problems associated with test marketing

answer

P&G introduced duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This illustrates _____

question

when the costs of developing and introducing the product are low

answer

Which of the following is the most likely circumstance for a company to decide to do little or no test marketing?

question

simulated test market

answer

Ina _______, new products and marketing tactics are tested online in a virtual shopping environment.

question

commercialization

answer

Introducing a new product into the market is called ________.

question

Their paid innovation consultants

answer

According to the WSJ article "a new approach to new products" discussed in class "with open innovation" companies solicit ideas from all the following... except :

question

Consumers believe in TOMS "one for one" mission statement

answer

According to the in-class discussion, TOMS shoes had a lot of success gaining market share with its products because

question

UPS

answer

According to the in-class article and discussion, which of the following companies executed the first commercial delivery of a product by a drone in the US... an inhaler delivered to an island near boston?

question

"Single Cow" ground beed versus conventional ground beef

answer

According to the in-class discussion involving differentiating a product from the competition, the example used was :

question

PLanter's Vacuum packed peanuts in a "brick pack"

answer

the example given in class for a poor idea screening outcome was:

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