MK 303 mid-term part two – Flashcards
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A fast-food chain is redesigning its restaurants. One of the main questions facing the chain's management is, "Should the new restaurant design include a salad bar?" A researcher in the company finds an article in a restaurant trade magazine containing the results of a study about salad bars. The results indicate that salad bars are costly to maintain and are not a major attraction to consumers. Based on this information, management decides that it will not have a salad bar as part of the new restaurant design. This example illustrates the point that:
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Situation analysis sometimes eliminates the need for conducting further research in a problem area.
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Which of the following is NOT part of the five-step marketing research process discussed in the text?
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Developing the marketing information system (MIS)
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Information is obtained on a continuing basis from the same respondents using a:
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consumer panel
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In the context of interpreting data, identify the most accurate statement.
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The confidence interval is likely to contain the true value for the whole population
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Which of the following is a disadvantage of quantitative research (compared to qualitative research)?
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It is harder to get in-depth answers.
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Data that has been collected or published already is:
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secondary data.
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The two basic methods for obtaining primary information about customers are
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questioning and observing.
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In a grocery store's "valued customer" program, every shopper gets a card that he/she presents to the clerk in the checkout aisle. The card is scanned along with the customer's groceries. The store's computer system tracks each shopper's purchases and automatically provides special valued customer discounts. Every month, the customers in the program receive a newsletter containing coupons that are based on the customer's purchase history. For example, someone purchasing a lot of baby formula and disposable diapers might get a coupon for a free box of baby wipes. This valued customer program is based on which of the following types of research?
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observation
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An interview with 6 to 10 people in an informal group setting is called a(an):
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focus group interview
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"Qualitative research" involves:
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questioning to obtain in-depth open-ended responses.
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A decision-making approach that focuses on being objective and orderly in testing ideas before accepting them is the:
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scientific method.
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The scientific method in marketing research
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forces an orderly research process.
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Qualitative research, compared to quantitative research:
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Relies on open-ended questioning.
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The Cereal Bar, a fast-food restaurant that sells breakfast cereal, wanted to see if a different price for its Wild O's breakfast special would affect demand. So the marketing manager used ________ when she tested two different prices at two different stores and compared sales.
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test-marketing
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Identify the correct sequence in the marketing research process.
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Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem
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Identify the INCORRECT statement about marketing research.
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Most small companies have a separate marketing research department.
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A complete marketing information system should: -All of these alternatives are true. -provide a good overall view on many types of problems. -provide answers to specific questions. -continually gather data from internal and external sources, and from market research studies. -organize incoming information into a data warehouse.
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All of these alternatives are true
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Often the most difficult step in the marketing research process is:
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defining the problem
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Data that were not gathered for the immediate study but are available for use are known as _____ data.
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secondary
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Which of the following is NOT part of the five-step marketing research process discussed in the text?
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writing the proposal
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Marketing research that seeks structured responses that can be summarized is called:
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quantitative research
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The big advantage of qualitative research in marketing is:
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the in-depth responses it provides.
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________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.
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marketing research
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Which of the following statements concerning secondary data is correct?
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Secondary data was originally collected for some other purpose.
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Procedures that develop and analyze new information to help marketing managers make decisions are called:
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marketing research
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Which of the following statements about the marketing research process is NOT TRUE?
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Defining the problem is important because this decision will remain unchanged throughout the process.
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Whenever John shops for groceries, he gives an ID card to the clerk, who scans the number. Then the scanner records every purchase-including brands, sizes, prices, and any coupons used. John is most probably a
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consumer panel member.
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Wizard Toy Company's marketing researcher conducted a survey to find out the percentage of customers who, after receiving a promotional mailing about a new toy, actually went out and purchased the product. This is an example of
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quantitative research
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The marketing manager at Massimino and McCarthy, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?
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Looking through the company's marketing information system to see past sales trends
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The part of the relevant population that is surveyed by a researcher is called the:
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sample
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The research proposal may include information about all of the following except
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what the possible solutions are.
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A fast-food chain is redesigning its restaurants. One of the main questions facing the chain's management is, "Should the new restaurant design include a salad bar?" A researcher in the company finds an article in a restaurant trade magazine containing the results of a study about salad bars. The results indicate that salad bars are costly to maintain and are not a major attraction to consumers. Based on this information, management decides that it will not have a salad bar as part of the new restaurant design. This example illustrates the point that:
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Situation analysis sometimes eliminates the need for conducting further research in a problem area.
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Managers at Wayzata Communications, an Internet service provider, want access to a continual flow of information about their market-available whenever they need it. Wayzata managers need a(n)
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marketing information system
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When a Walmart clerk processes a customer's purchases by scanning the bar codes of their items, this is an example of what type of research?
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observation
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Which of the following would NOT be a source of primary data?
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Wall Street Journal
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Secondary data from federal government sources
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is often very helpful for estimating the size of a market.
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____ is an example of a primary data source.
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observation
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A consumer products manufacturer wants consumer reaction to its existing products. Interaction is considered important to stimulate thinking. The firm should use:
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Focus group interviews
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During a "situation analysis," a marketing researcher should:
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study what other information is already available
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The scientific method in marketing research
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forces an orderly research process.
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The percent of people contacted in a survey who complete a questionnaire is the:
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response rate
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The total group a survey researcher is interested in is called the:
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population
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A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.
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marketing information system
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With focus group interviews,
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the objective is to get the group to interact, so that many ideas are generated.
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The observing method in marketing research:
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is used to gather data without consumers being influenced by the process.
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Which of the following is usually the most expensive way to collect data from consumers?
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personal interviews
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Which of the following is NOT an advantage of mail surveys as a method of quantitative research?
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high response rates
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Test-marketing is an example of a(n):
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experiment
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A marketing manager wants to know if a "2 for 1" coupon will attract new customers. He will get the most persuasive results if he uses
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an experimental method in which only some consumers get the coupon and the purchases of the two groups (with and without coupons) are compared.
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A company that sells equipment through independent wholesalers wants to find out why sales are down in one region. An analyst is asked to interview the wholesaler in that region. This seems to be
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part of a situation analysis
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Wujin Chu, marketing manager for Innovative Electronics Products, reviews a S.W.O.T. analysis to help him evaluate four new product ideas his company is currently considering. Chu is operating in the ____ step of the new-product development process.
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screening
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Regarding product life cycles, a good marketing manager knows that
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entirely different target markets may be involved at different stages of the product life cycle
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Manufacturer brands are also called ___________.
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national brands
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From a marketing perspective, product quality primarily depends on,
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the customer's specific requirements and needs.
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As a product moves through its product life cycle:
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customers' needs and attitudes may change.
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Saxon Shoes is a large independent shoe store. In the men's department, the store offers three different brands of slip-on tassel loafers for men: Bass, priced at $75; Rockport, priced at $125; and Allen Edmonds, priced at $250. In terms of product quality, which of the following is an accurate statement?
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The quality of the three brands depends on the degree to which they meet the needs of the consumers in the target market.
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The value of a brand to its current owner or to a firm that wants to buy it is called
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brand equity
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Consumer product classes are based on ______________, while business product classes are based on ______________.
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how consumers shop for the product, how the product is to be used
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The Federal Fair Packaging and Labeling Act:
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requires that consumer goods be clearly labeled to give consumers more information
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The "battle of the brands" refers to competition between:
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manufacturers and intermediaries.
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Which of the following would probably be treated as a capital item by a large clothing manufacturer?
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Computer-controlled fabric cutting machines.
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"Product" means:
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the need-satisfying offering of a firm.
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The _____ step in the new-product development process could involve research and development as well as engineering to design and build the physical part of the product.
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development
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Services are intangible. all of these choices are correct. often have to be produced in the presence of the customer. are not easy to store. are perishable.
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all of these choices are correct
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According to the FTC, for a producer to call a product "new," the product:
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must be entirely new or changed in a functionally significant or substantial respect.
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Sales of a producer's wax paper food-wrap are declining fast. The advertising manager-looking for a way to attract attention to the brand-suggests changing the package somewhat and promoting it as a "new" product. The Federal Trade Commission
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probably would not approve of this at all.
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In the idea generation stage of the new-product development process:
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Firms need a continuous flow of ideas.
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Carlotta Issa is shopping for a new pair of jeans. She has had good experiences with Jordache jeans in the past and is looking for Jordache now. She probably will buy Jordache if she finds some that are at least as good-looking as competitive jeans. This is a good example of:
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brand preference
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The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafely designed products is called:
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product liability
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Which of the following is a common cause of new product failures?
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The product fails to offer the customer a unique benefit.
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Cargill, Inc. is finally earning a profit on the unique product it introduced six months ago. Cargill's advertising is both informative and persuasive. Much money is being spent on Place development. There is little price competition, although several competitors have come out with reasonable imitations. Total industry sales and profits are both rising. In which stage of the product life cycle is Cargill operating?
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market growth
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Health Care Products Company has noticed that in one of its product-markets industry sales have leveled off and competition has been getting tougher. This product-market appears to be in the ____ stage of the product life cycle.
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product maturity
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Chris Carmine manages specific products and promotion at Bright-n-Shiny Toothbrush Company. Her job responsibility sounds like that of a ________.
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brand manager
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Words, symbols, or logos that are legally registered for use by a single company are:
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trademarks
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______________ means potential customers remember a particular brand.
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brand recognition
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Ukrop's Supermarkets places the Ukrop's brand on a wide variety of products that are only available in Ukrop's stores. The Ukrop's brand is referred to as a(n):
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private brand
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A "rollout" happens in the ____ step of the new-product development process.
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commecialization
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While shopping in a local supermarket, Jolene Partin came upon an aisle display of cookies and had to have some-immediately. By the time she got to the checkout counter with the rest of her selections, all the cookies were gone. In this case, the cookies were:
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an impulse product
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Lisa Campos was interested in buying a coffee pot to use at college and a cassette player for her sister's birthday present. At the local discount store, she compared prices on coffee pots and chose the cheapest. She read the product information on each cassette player and finally chose one with stereo headphones and a rechargeable battery. For Lisa, the coffee pot was
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a homogeneous shopping product, but the cassette player was a heterogeneous shopping product.
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Nike, Inc. markets several types of athletic shoes, along with clothing and fitness equipment. In other words, Nike has
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several product lines
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The Consumer Product Safety Commission
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can order costly returns of products it considers unsafe.
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______________ are products a consumer needs but isn't willing to spend much time and effort shopping for.
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convenience products
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Boatwright College gives manufacturers of clothing and gift items permission to place the college's name and emblem on a wide variety of merchandise. In return, Boatwright is paid a fee for granting this permission. In this case, the Boatwright name and logo is a(n):
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licensed brand
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Concept Testing
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seeks potential customers' reactions and attitudes toward new product ideas-before actual models are developed.
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Which of the following is NOT one of the text's product life cycle stages?
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market penetration
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Which of the following statements about the idea evaluation step is false?
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Product tests with customers are used to revise the early versions of the product.
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Which one of the following statements about packaging is TRUE?
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A package should satisfy not only the needs of final consumers but also those of intermediaries.
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The text's business product classes are based on:
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how buyers think about products and how they will be used.
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During the sales decline stage
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new product replace the old
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During a heavy rainstorm, Louie Hirasawa stepped into a drugstore and bought an umbrella-just like the one he had at home-for $15.00 plus tax. In this case, the umbrella is:
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an emergency product
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Which of the following gives the correct order of the steps in the new-product development process?
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Idea generation, screening, idea evaluation, development, commercialization
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In the market introduction stage of the product life cycle
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most companies experience losses
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Consumer product classes
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are based on how consumers think about and shop for products.
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regarding the demand for business product
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Demand for business products is derived from the demand for final consumer products.
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A product assortment is:
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the set of all product lines and individual products that a firm sells.
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Rita Scavone manages a pizza restaurant. She spends a night reviewing customer comments and sorting them on what went right and what went wrong. Rita is following a principle of:
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total quality management
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______________ means target customers will generally choose a particular brand over other brands-perhaps out of habit or past experience.
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brand preference
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Sears uses a(n) _______________ brand when it uses the same brand name for several products. In contrast, General Motors, by using different brands for each car line, uses ______________ brands.
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family,individual
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National Family Opinion (NFO) contacts several hundred members of its consumer panel and provides them with a printed description of a new chewing gum and its package. Consumers are then given a survey containing several multiple-choice questions about their attitudes toward the new product, based on what they read in the description. The final survey question asks consumers to indicate the likelihood that they would purchase the product. NFO seems to be conducting a:
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concept test
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_____ means giving employees the authority to correct a problem without first checking with management.
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empowerment
