quiz 3 marketing – Flashcards
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________ is the process of evaluating the attractiveness of 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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Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy?
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market segmentation, market targeting, differentiation, positioning
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Markets can be segmented into groups of nonusers, ex-users, potential users, first-time users, and regular users of a product. This method of segmentation is called ________.
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user status segmentation
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Market segments that can be effectively reached 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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When an effective program can be designed for attracting and serving a chosen segment, the segment is best described as ________.
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actionable
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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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Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing.
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differentiated
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________ marketing tailors brands and promotions to the needs and wants of specific cities, neighborhoods, and even stores.
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local
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Which of the following is true of perceptual positioning maps?
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they are used to analyze consumer perceptions of a brand versus competing products
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Using a(n) ________ 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 the same
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Company and brand positioning should be summed up in a ________.
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positioning statement
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Which of the following types of products are generally priced the lowest?
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connivence products
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Which of the following is an example of an unsought product?
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life insurance
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Which of the following is an example of an industrial product grouped under capital items?
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factory
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A ________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.
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brand
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Expanding a product line by adding more items within the present range of the line is known as product line ________.
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filling
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Marque, a high-end maker of designer watches, has started making inexpensive watches to take advantage of enormous growth rates in low-end market segments. Marque is most likely engaging in ________.
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downward stretching
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Product mix width refers to the ________.
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number of different product lines the company carries
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Which of the following is most likely a true statement about services?
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services is intangible before it is purchased
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The dependence of service quality on the quality of the buyer—seller communication during the service encounter is referred to as ________ marketing
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interactive
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Flores Fashions promotes its clothing by emphasizing the durability and quality of the fabrics it uses. The company has positioned its brand based on ________.
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product attributes
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Xenon, a leading consumer-electronics manufacturing company, markets its products under the company's own brand name. In this case, Xenon has sponsored its products by promoting them as ________ brands.
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national
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Sweet & Cream, a popular frozen yogurt chain, attracts new customers by adding new flavors to its famous frozen yogurt product line. In this case, the company has developed its brand with ________.
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line extensions
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Which of the following statements is most likely true about the new product development process?
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customers, competitors, and suppliers are major sources of new product lines
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Internal sources of new product ideas for a company include its ________.
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employees
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In which of the following cases is crowdsourcing used for new product development?
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a company creates a forum where anyone can contribute new product ideas
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The stage in which a product concept is presented to groups of target consumers physically or symbolically is referred to as ________.
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concept testing
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________ involves a review of the sales, costs, and profit projections for a new product to find out whether they satisfy a company's objectives.
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business analysis
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In which of the following cases is little or no test marketing most likely recommended for a new product?
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when the costs of developing and introducing the product low
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________ is the stage where a product and its proposed marketing program are introduced into realistic market settings.
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test marketing
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Which of the following is a disadvantage of a team-based approach to new product development?
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organizational confusion and tension are likely effect the process
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Which of the following statements is most likely true about the product life cycle?
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growth is a period of rapid market acceptance and increasing profits
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A product life cycle has five distinct stages: product development, introduction, growth, maturity, and ________.
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decline
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Which of the following would most likely have the longest duration in a market and be characterized by several periods of renewed interest?
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a style
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Which of the following is true about the introduction stage of a new product?
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sales growth tends to be slow
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As a result of ________, a company cannot make its product illegally similar to a competitor's already established product.
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patent laws
