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51 Cards in this Set

  • Front
  • Back
The market for a good or service is best defined as all of the
a. people and/or organizations that desire a good and are willing and able to purchase it.
b. people and/or organizations that desire a good but are not willing and able to purchase it
c. people that desire a good and are willing and able to purchase it
d. organizations that desire a good and are willing and able to purchase it.
A
A market segment is best illustrated as a
a. combination of smaller markets, with the combined market having little commonality
b. subset of a larger market, with the subset having common characteristics and needs.
c. product offering with a differential advantage over competetive
B
The first step in undertaking a target market strategy is to
a. analyze consumer demand
b. develop a targer market strategy
c. establish possible bases of segmentation
d. target the market.
A
Which target market approach uses a mass-marketing strategy?
a. undifferentiated marketing
b. concentrated marketing
c. differentiated marketing
d. multiple segmentation
A
Which target market strategy seeks to appeal to the largest target market with a single marketing strategy for each segment?
a. clustered marketing
b. undifferentiated marketing
c. diffused marketing
d. differentiated marketing
B
Which marketing strategy seeks to appeal to multiple consumer segments with a distinctive marketing strategy for each segment?
a. segment marketing
b. concentrated marketing
c. differentiated marketing
d. clustered marketing
C
A firm seeks to develop a differential advantage through
a. mass marketing
b. differentiated marketing
c. undifferentiated marketing
d. product marketing
D
The most difficult consumer demand pattern for a marketer to satisfy is
a. derived demand
b. homogeneous demand
c. clustered demand
d. diffused demand
D
Geographic demographics, personal demographics, and consumer lifestyles are
a. heavy-half segmentations
b. target market approach
c. possible bases of segmentation
d. VALS-based approaches to segmentation
C
Basic identifiable characeristics of towns, citites, states, regions, and countries may be described through
a. geographic demographics
b. population demographics
c. personal demographics
d. consumer demographics
A
Swatch aims its watches at the consumer group that is concerned with fashion at a reasonable price. This target market represents a
a. consumer lifestyle segment
b. heavy-half segment
c. personal demographic segment
d. benefit segment
D
Which of these statements about the VALS 2 typology is NOT correct?
a. It places consumer into segments based on their innovation and resources
b. It seeks to explain why and how cocnsumers make purchase decisions
c. It had to be tailored to fir the Japanese culture
d. It can be used to explain organizational consumer behavior
D
In contrast to the VALS 2 model of consumer behavior, the Social Styles model
a. studies the behavior of organizational consumers
b. divides consumers into 8 segements of the basis of slef-orientation and resources
c. assumes that resources increases from youth to middle age and then decline with old age.
d. presupposes that makers are the largest group.
A
Undifferentiated marketing is most effective when demand is
a. clustered
b. diffused
c. homogeneous
d. concentrated
C
A small paint manufacturer produces paint that is speciially formulated to be used with wrought iron railings and furniture that is placed outdoors. The company should be engaged in which target market approach?
a. differentiated marketing
b. product differentiated
c. concentrated marketing
d. undifferentiated marketing
C
A firm can avoid the majority fallacy by
a. focusing on saturated geographic markets.
b. concentrated on the large sisted markets
c. avoiding large sized markets
d. evaluating the number and quality of competitors in each market relative to the market's size.
D
Which target market approach most closely resembles a niche strategy?
a. concentrated marketing
b. differentiated marketing
c. benefit segmentation
d. undifferentiated marketing
A
A manufacturer of precooked meals wants to change its marketing strategy to increase sales and to lower costs. It plans to shift from offering a selection of Greek and Italian foods to now offering only Italian pasta-based dishes. This manufacturer is moving away from
a. concentrated marketing
b. differentiated marketing
c. benefit segmentations
d. undifferentiated marketing
B
Which target market approach involves the most complicated market planning process?
a. differentiated marketing
b. product differentiated
c. concentrated marketing
d. undifferentiated marketing
A
A paint manufacturer produces pain in 1-gallon containers for the do-it-yourself market and in 5-gallon containers for professional painters. The firm practices
a. differentiated marketing
b. concentrated marketing
c. undifferentiated marketing
d. ultramarketing
A
Which strategy has the greatest threat of a blurred brand image?
a. product differentiation
b. benefit segmentation
c. differentiated marketing
d. undifferentiated marketing
C
A product can be best defined as a(n)
a. physical good
b. intangible from
c. bundle of attributes
d. tangible form
C
A tangilbe product
is consistents with the definition of the marketing concept
b. is offered under a given description or model number
c. is the broadest possible definition of a product
d. includes both image and serivce features
B
The broadest definition (in terms of scopes) is the ______ product
a. extended
b. generic
c. tangible
d. augmented
B
Service marketing includes
a. the sale and rental of durable products
b. the sale and rental of non durable products
c. only the sale or rental of owned-goods services
d. the rental of goods, servicing good owned by consumers, and personal services.
D
The term "consumer products" refers to which classification of consumer?
a. final consumer
b. final or organizational consumer
c. organizational consumer
d. general public
A
A products placement in the convienience, shopping, and specialty product classification system is based primarily on a
a. consumers degree of search
b. products degree of tangibility
c. consumers degree of innovation
d. products degree of fashion
A
Which consumer product is generally purchased with the LEAST degree of information search?
a. convenience products
b. shopping products
c. tangible products
d. generic products
A
Staples, impulse products, and emergency products are forms of which type of product?
a. shopping products
b. convenience products
c. tangible products
d. specialty products
B
An impulse product can be best defined as a(n)
a. unplanned purchase
b. purchase characterized by high brand loyalty
c. low-involvement purchase
d. novelty or escape purchase
A
Shopping products are characerized by
a. comparaison shopping activity amoung consumers
b. high brand loyalty amoung consumers
c. minimal consumer effort expended prior to purchasing a product
d. high product knowledge among consumers
A
The mail order discounter of computer supplies currently sells its prodeucts on the basis of price. There is no technical service supplied, and handling and shipping charges are added to each order. The firm is marketing
a. extended products
b. tangible products
c. generic products
d. augmented products
B
The mail order retailer is considering changing its marketing strategy to include technical service, as well as special handling. Under it's plan, the retailer would keep an up-to-date record of a customer's purchases and sdivse each customer as to updated versions of software, when available. It would also provide second day shipping services with no additional charge. under the planned strategy, the retailer is marketing
a. tangible products
b. extended products
c. generic products
d. augmented products
D
The mail order retailer has hired a marketing consultant. The consultant. The consultant questioned the firms lack of focus on software benefits. According to the consultant "consumers are not buying software, they are purchasing solutions to business problems." The consultant is advocating that the retailer focus on what type of product
a. tanglible product
b. extended product
c. generic product
d. augmented product
C
A student quickly decides to purchase extra disks at the bookstore located two blocks from his home. The student realizes that he has run out of disks to back up his term paper and that stores will be closing within a half hour. The consumer views the disk purchase as a(n) _______ product.
a. specialty
b. convenience
c. shopping
d. impulse
B
Compared with shopping products, convenience products involve
a. lower percienved risk
b. greater information search by consumers
c. brand insistence
d. less consumer knowlege prior to purchase
A
Marketing researchers often determine the extent to which supermarket shoppers purchase___ products by comparing the products purchased verus those listed on a shopping list prior to the responent entering a store.
a. specialty
b. shopping
c. impulse
d. convenience
C
Studies of shopping centers commomly find that they have more shoe stores than any other category of retailer. the studies further document the high degree of store intercharge among shoppers for shoes. A high proportion of shoppers visit more than two shoe stores. based upon this data, what type of consumer product are shoes?
a. specialty products
b. installations
c. shopping products
d. convenience products
C
Competitive retailers may increase each firms total sales in which merchandise category?
a. impulse products
b. convenience products
c. emergency products
d. shopping products
D
Which type of retailer has the widest product mix?
a. department store
b. specialty store
c. variety store
d. supermarket
A
A market anaylst described a firm as having a poor organizational mission statement that has resulted in the firms having a "cluttered plate" and a "blurry image" What type of product mix does the firm have
a. inconsistent
b. consistent
c. wide
d. shallow
A
Which statement concerning product modifications is NOT correct?
a. major innovation involve greater risk, but higher possible payoffs than minor innovations
b. modifications are alterations in or extentions of a firms existing products
c. modifications include new models, styles, colors, features, and brands
d. most new products are major innovations
D
Which of these best illustrates a manior innovations?
a. a modification of an existing product or an innovation that the consumer perceives as meaningful
b. an alteration in or extentionn of a firms existing products
c. items not previously marketed by any firm
d. items not previously marketed by a firm that have been marketed by others
D
Which of these best illustrates a major innovation?
a. items not previously sold by a firm that have been marketed by others
b. a modification of an existing product or an innovation that the consumer perceives as meaningful
c. an alteration in or extention of a firms existing products.
d. items not previously sold by any firm
D
Which statement concerning the product life-cycle is NOT correct?
a. the product life-cycle concept encourages firms to have a balanced product form, and a brand
b. the product life-cycle concept encourages firms to have products with different competitive product positioning
c. A firm needs to change its marketing mix to reflect a products life-cycle position
d. The product life-cycle can be applied to a product class, a product form, and a brand.
B
An extended fad product life-cycle pattern is characterized by
a. a sharp decline in sales after a product's introduction
b. high seasonal sales or a high fashion component
c. residual sales that continue at a lower level than earlier sales.
d. a product that maintains sales over a long perios of time.
C
The introduction stage of the tradional product life cycle is characterized by
a. high total and unit profits
b. substatial competition
c. an expanding product line
d. a product mix consisting of one or two basic models.
D
The growth stage of the product life cycle is characterized by
a. a stable sales pattern
b. high total and unit profitability
c. the greatest degree of competition
d. the greastest number of distribution outlets available
B
Competition is at it's highest level in which product life cycle stage?
a. introduction
b. maturity
c. growth
d. decline
B
the decline stage of the product life cycle is characterized by the
a development and sale of substitutes for a product
b. highest level of produce competition
c. beginning of discounting by a firm and it's competitors
d. expansion of distribution
A
Which statement about the evaluation of the product life cycle is NOT correct?
a. a firm can manage the product life cycle through developing an appropriate marketing mix.
d. it is virtually impossible to reverse a decline in sales once a product has teached maturity.
D