Flashcards on Marketing Finial

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New product development starts with_____
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Idea Generation
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Executive, manufacturing employee, and salespeople are all examples of _____
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Internal sources for new-product ideas
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In the concept testing stage of new product development, a product concept in ______ form is presented to groups of target consumers
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Physical or symbolic
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After concept testing, a firm would engage in which stage in developing and marketing a new product?
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Marketing strategy development
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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?
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Business Analysis
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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
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product development
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Introducing a new product into the market is called______
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test marketing
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Increasing profits will most likely occur at which stage of the PLC
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Growth
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All of the following are accurate descriptions of a style, Except which one?
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Styles last only a short time and tend to attract only a limited following
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Flurrbies, winter accessories which fell in and out of favorability with customers quickly, are example of a _____
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fad
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Price is the only element in the marketing mix that produces____
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revenue
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Value-base pricing is the reverse processor ____ pricing
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Cost-based
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_____ involves charging a constant low price with few or no temporary price discounts
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everyday low pricing (EDLP)
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Fixed costs____ as the number of units produced increases
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remain the same
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Costs that do not vary with production or sales level are referred to as ____ costs
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Fixed
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Costs that vary directly with the level of production are referred to as ____ costs
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variable
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____ are the sum of the ____ and ___ for any given level of production
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Total costs, fixed, variable
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Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ______
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market-skimming pricing
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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
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segmented pricing
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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?
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promotional pricing
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_____ calls for testing new-product concepts with groups of target consumers
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concept testing
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_____ is the product life cycle period when sales fall off and profit drops
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decline
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All of the following are stages the PLC, Except which one?
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Adoption
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in which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?
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introduction
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In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?
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Growth
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In the _____stage, the firm faces a trade-off between high market share and high profit
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growth
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______ are less frequently purchased consumer products and services that customers compare carefully on stability, quality, price and style. Consumers spend comparisons about these products
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shopping products
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____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
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Shopping product
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____ consists of activities undertaken to create, maintain, or change the attitude and behaviors of target consumers toward an individual
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person marketing
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______ is the process of evaluating the attractiveness of the different market segments and selecting one or more segments to enter
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market targeting
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____ 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
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positioning
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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
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Demographic
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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?
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Geographical location
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ProFem Inc. Caters its line of sports exclusively to women. What type of segmentation does the company use?
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Gender
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Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called_____ segmentation
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Behavioral
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Firms that manufacture seasonal products target their consumers primarily through ____ segmentation
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Occasion
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Market segments that can be effectively reaches and served are said to be ____
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accessible
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When a market segment is large or profitable enough to serve, it is termed____
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Substantial
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Marketing the same product to a huge customer base without any customization is referred to as ____
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mass marketing
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The practice of tailoring products and marketing programs to suit the tastes of specific individuals and location is referred to as _____
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micromarketing
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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
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more- for more
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Which positioning strategy offers value for consumer by providing the same brands a competitors at a lower price?
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the same for less
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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
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more for less

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