According to Abraham Maslow, physiological needs are basic human needs.
More than with physical goods, price is often used as an indicator of service quality.
“Sales promotion” involves boosting sales in short term.
One of the problems with using a variety of channels (multiple-channel system) is loss
of control over some part of the system.
Quality of a service should not be determined with reference to customer perceptions.
The value-in-use method works well with products and services for which it is difficult
to quantify the economic benefits.
Industrial products are normally less complex than consumer products.
In a classic linear approach to new-product development, various development phases
may overlap.
Which of the following techniques uses an estimate of the eventual penetration rate, an
estimate of the ultimate repeat rate, and an estimate of the relative product category
usage rate of buyers of the new brand to determine eventual market share?
A) Parfitt-Collins model
B) Boston Consulting Group Matrix
C) Porters Five Forces model
D) GEs industry analysis evaluation
Identify a criticism that is often associated with marketing.
A) It makes customers buy things that they do not really want.
B) It is not helpful in creating customer value.
C) It fully ignores customer needs and wants.
D) Marketing is often restricted to branding and communication.
Which of the following is the main reason many experts believe that relying on
customers for new products, particularly true innovations, is doomed to failure?
A) Customers have limited ability to see into the future and conceptualize what could
be.
B) Customers would be biased and would want only inexpensive products.
C) Customers dont have the time to think about new products.
D) Customers might share the same new product ideas with competitors.
Negative gaps in perceived service quality can be remedied by:
A) lowering customer expectations.
B) creating zero-value products.
C) increasing the price.
D) reducing the service quality.
Which of the following best describes different specific combinations of features within
each product type?
A) product types
B) product variants and brands
C) industry
D) product categories
Which of the following types of variables characterizes the differences between people
in terms of lifestyles, personalities, and social class?
A) geographic
B) demographic
C) psychographic
D) behavioral
Which of the following takes place during the product definition phase?
A) generating new product ideas
B) translating concepts into actual products for further testing
C) reducing the concepts under consideration to a manageable number
D) quantitatively assessing demand for the concept
Panel conditioning refers to a problem where:
A) panel members do not remain on the panel.
B) panel members do not represent the underlying population.
C) being on a panel changes a members behavior.
D) attitudes and preferences of the panel members change over the time.
Which of the following describes how a local firm could defend its local market against
a global company?
A) It should reduce its price and begin competing on price differentiation.
B) It should emphasize its home country or ethnic origin.
C) It should increase advertising expenditures and continue with the same message as
before.
D) It should increase its research and development expenditure and enhance its product.
Which of the following is a disadvantage of an over-engineered product?
A) The quality of the product will be low.
B) It is less robust for its application.
C) It is associated with operational problems.
D) The product will have unwanted features.
List and briefly describe the three types of qualitative research.
List and briefly describe the four major sources of channel conflict.
List and briefly describe the major approaches to service distribution.
Summarize the problems associated with frequency or loyalty programs.
Describe the three possible relationships among perceived value, price and cost,
ignoring competition for the present.
Forrester Research Inc., a well-known technology consultant, divided consumers into
10 groups through the use of what they call Technographics. List and describe these
groups.
Describe the five stages of the new product development process in the classic linear
approach.
Name three reasons why marketing is a challenge within organizations.