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Co-branding is when two or more well-known existing brands are combined into a joint
product and/or marketed together in some fashion.
Psychogenic needs arise from the physiological states of tension such as hunger or
discomfort.
Unwholesome demand occurs when consumers' purchases vary on a seasonal, monthly,
weekly, daily, or even hourly basis.
A Web site's physical attractiveness is ensured when the site downloads quickly, the
first page is easy to understand, and it is easy to navigate to other pages that open
quickly.
In building brand equity, marketers should be "media neutral" and evaluate all
communication options on effectiveness and efficiency.
Companies that fail to develop new products leave their existing offerings vulnerable to
increased domestic and foreign competition.
If a company exaggerates the features of its products in its product catalogue, it can be
classified as deception.
Members of the same generational cohort share the same major cultural, political, and
economic experiences and have similar outlooks and values.
Services constitute the bulk of most countries' production and marketing efforts.
Growing the core can be a less risky alternative than expansion into new product
categories.
The role of a relatively high-priced brand in a portfolio is often to attract customers to
the brand franchise or to "build traffic."
Marketing-mix modeling is used to estimate causal relationships and measure how
marketing activity affects outcomes.
Caterpillar uses target-return pricing to set prices on its construction equipment, and
justifies a higher price by showing lower lifetime operating costs.
________ are products such as the Mercedes Benz C-class and the American Express
Blue card, that extend historically high-priced brands down-market while retaining their
cachet.
A) Hourglass products
B) Mass market products
C) Old Luxury brand extensions
D) Masstige goods
E) Accessible superpremium products
Which of the following terms refers to the degree to which the innovation can be tried
on a limited basis?
A) compatibility
B) relative advantage
C) divisibility
D) communicability
E) complexity
In the ________ step of the market segmentation process, the marketer evaluates the
segment using criteria such as market growth and market access.
A) need-based segmentation
B) segment identification
C) segment attractiveness
D) segment profitability
E) segment "acid test"
Some services require that the client be present to conduct the service. Which of the
following is an example of such a service?
A) pest control
B) furniture polishing
C) surgery
D) car repairing
E) tax services
Which of the following is an example of a private carrier?
A) MET is a transporter that operates only in the Chicago area and charges fixed prices.
B) BCL is a family firm that owns only three trucks, but takes small orders for
transport.
C) VTV owns a fleet of trucks and transports goods for any client for a fee.
D) COM is a shipping firm that transports goods by road and rail across the United
States.
E) BEL Inc. manufactures parts for automobiles and transports its products to
customers itself.
________ pricing takes into account a host of inputs, such as the buyer's image of the
product performance, the channel deliverables, the warranty quality, customer support,
and attributes such as the supplier's reputation, trustworthiness, and esteem.
A) Perceived-value
B) Value
C) Going-rate
D) Auction-type
E) Markup
Market skimming pricing makes sense under all the following conditions, EXCEPT if
________.
A) a sufficient number of buyers have a high current demand
B) the unit costs of producing a small volume are high enough to cancel the advantage
of charging what the traffic will bear
C) the high initial price does not attract more competitors to the market
D) consumers are likely to delay buying the product until its price drops
E) the high price communicates the image of a superior product
In IBM's BANT acronym, N stands for ________.
A) noticeable
B) necessary
C) need
D) necessity
E) notify
Trendz Inc. is a leading brand of fashion clothing and accessories based in Houston.
After gaining a strong foothold in the US, the company wants to foray into foreign
markets. The management at Trendz knows that people residing in other countries are
likely to have different tastes and preferences, so they may have to redesign some of
their offerings. Which of the following strategies is Trendz using?
A) market-penetration strategy
B) outsourcing strategy
C) geographic-expansion strategy
D) product differentiation strategy
E) ethnocentric strategy
Which of the following is usually referred to as a full-blown test market?
A) an internal focus group
B) a discussion group
C) a country
D) a city or a few cities
E) a laboratory
In an attempt to tailor its products to suit the requirements of consumers in India, LG
introduced the aero-comfort system. A remote control is programed to regulate both the
air-conditioning and the ceiling fan. Consumers can switch off the AC and increase the
ceiling fan's flow once the desired temperature is achieved. This not only increases
convenience, but also cuts down electricity charges. LG's aero-comfort system is an
example of which of the following?
A) backward invention
B) dual invention
C) country version product
D) straight extension
E) communication adaptation
Which of the following is an example of image differentiation?
A) Berry's has an intensive training program for its customer-facing staff, to ensure a
consistent service standard.
B) The Swan Hotels use a distinctive signature fragrance in all outlets so that customers
can associate the fragrance with the hotel.
C) JEK's sophisticated customer database allows the company to handle queries and
product returns much faster than competitors.
D) RTZ shifted its products from supermarket aisles to exclusive stores as it realized
that customers were willing to pay more in stores.
E) Hayley's found success by allowing buyers to customize the color and some features
of its appliances before buying them.
A company positioned in the "middle" market introduces a lower-priced product line.
What type of line-stretching is this?
A) home stretch
B) up-market stretch
C) down-market stretch
D) maintenance stretch
E) two-way stretch
________ is the science of using psychology and demographics to better understand
consumers.
A) Psychographics
B) Interactionism
C) Clustering
D) Demographic transition
E) Customerization
Gordon Jones is considering purchasing a computer from Best Buy. He has created a
scale for rating eight different computers on three different characteristics. He plans to
make a short list of only those computers that score at least a 7 on his scale on all three
characteristics. Which of the following choice heuristics has he chosen?
A) elimination-by-aspects heuristic
B) lexicographic heuristic
C) conjunctive heuristic
D) anchoring and adjustment heuristic
E) representativeness heuristic
During the planning process, if there is a gap between future desired sales and projected
sales, corporate management will need to develop or acquire new businesses to fill it.
Identify and describe the three strategies that can be used to fill the strategic gap.
List the five forces identified by Michael Porter that determine the intrinsic long-run
attractiveness of a market or market segment.
How has the explosion of videos online affected service firms?
What are mobile apps and how are they used?
As the newest member of the marketing department, your immediate boss asks you to
comment on the company's proposal to add two new shoes to the company's
middle-of-the-road pricing and product-line strategies. The first pair will retail for $ 40
and has as its target market the "bargain" shopper. The second pair will retail for $200
and is targeted at the 'sophisticated shopper." In relation to product-line strategy, what is
the company trying to accomplish with these two new items?
How is the expectancy-value model used in the evaluation of alternatives as a consumer
engages in a buying process?
A flexible market offering consists of two parts. Identify and describe these two parts.
What can you learn from John Smith from the sales report reflected in the table?
