Marketing test 2 Flashcards

Convenience goods are nondurable goods

• True
• False

In the Chapter 8 section titles "Market Test," the authors describe how Procter & Gamble (P&G) continually sabotaged another companies efforts to test a new product. What was the competitor's product?

• Shampoo
• Laundry Detergent
• Disposable Diapers
• Mouthwash
• toothpaste

Marketers and economists use the term "disposable income" when referring to money spend on nondurable goods that are discarded, such as paper towels, disposable diapers, etc.

• True
• False

Which of the following is an alternative for CPG ("consumer packaged goods"):

• AIO's
• VALS
• NIACS
• FMGC
• NPD

At which stage of the new product development process do marketers make estimations of technical success (e.g., can we produce it?) and commercial success (e.g. will people buy it?):

• Step 1 - Idea Generation
• Step 2 - Product Concept Development and Screening
• Step 3 - Marketing Strategy Development
• Step 4 - Business Analysis
• Step 5 Technical development
• Step 6 Test Marketing
• Step 7 Commercialization

As defined in Chapter 8, _________ is "the process by which an organization creates worth through collaborative participation by customers and other stakeholders in the new product development process"

The acronym "R&D" stands for:

• Research & Development
• Retail & Discount
• Recycled & Durable
• Retro & Differentiated
• Risk & Design

Supporting features such as warranty, credit, and service after the sale are all part of the:

• Actual Product
• Augmented Product
• Core Product

The three types of innovation discussed in Chapter 8 are "continuous innovation," "dynamically continuous innovation," and "---------- innovation"

Thinking about the adoption and diffusion of new products, "early majority" and "late majority" each account for about ______ percent of adopters.

• 2.5
• 34
• 13.5
• 16

Which of the following is NOT considered to be a demographic variable:

• age
• gender
• ethnic group
• activities
• income
• education

Which of the following demographic groups is characterized in our text as "digital natives"

• Gen Y
• Gen X
• Gen Z
• Baby Boomers

Which of the following is the largest ethnic segment in the United States

• African Americans
• Latino Americans
• Asian Americans

Which VALS segment is associated with self expression, high resources, and high innovation:

• Survivors
• Believers
• thinkers
• experiencers
• strivers

As noted in Chapter 7 Study Guide, one approach to segmentation embraces the notion that "the future of business is selling less of more." What concept is at work here?

• The 80/20 rule
• GIS
• undifferentiated targeting strategy
• the long tail

Which targeting strategy, if successful, can help company achieve economies of scale by serving homogeneous mass market in which consumer wants and needs are similar:

• Concentrated marketing
• undifferentiated marketing
• PRIZM Marketing
• differentiated marketing
• customized marketing

The 80/20 rule is relevant to which of the following segmentation variables:

• geographic
• income and social class
• family life cycle
• psychographic
• behavior

Our author defines Gen Y as those persons born between 1979 and:

• 1992
• 1993
• 1994
• 1995
• 1996

As you may know, Elon Musk's Tesla is a pioneer in the electric vehicle category. The companies fires vehicle, the Model S sedan, costs 80,000 and was designed to appeal to affluent eco-conscious consumers, What kind of targeting/segmenting strategy was evident in Tesla's early days:

• Undifferentiated Marketing
• Differentiated Marketing
• Concentrated marketing
• Customized Marketing

Thinking about objectives and strategies for individual products, the key to the successful launch of the MINI Cooper automobile was a creative TV advertising campaign that cost several million dollars.

• True
• False

Which of the following statements accurately reflects the discussion about Procter & Gamble (P&G):

• P&G has pursues a filling out strategy by adding a number of food and beauty brands to its product mix
• P&G has pursued a contraction strategy by divesting a number of foot and beauty brands in order to trim its product mix.

What does the M stand for in DMAIC

• Market
• Millennial
• Mass
• Measure
• Metrics

Which of the following aspects of product quality pertains to the notion of aesthetics:

• Durable
• Product safety
• Ease of Use
• Degree of pleasure
• precision

At which state of the product lifestyle (PLC) are profits negative:

• Introduction
• Growth
• Maturity
• Decline

In the Chapter 9 opening case, which client is Aaron Keller of the Capsule brand consulting working with.

• Arc'teryx
• North Face
• Columbia
• Patagonia

Consumer packaged good powerhouse Procter & Gamble (P&G) can be used to illustrate a variety of Chapter 9 concepts, including product and brand management, product lines, product mis, and brand extensions. Which of the following brands is "P&G's first new dish soap brand in 40 years?"

• Dawn
• Ivory
• Gain
• Joy

Thinking about the various aspects of product quality, which of the following is highlighted in Chapter 9 as being integral to McDonald's business model:

• Reliable
• Precision
• durable
• versatile
• degree of pleasure

Which of the following most accurately reflects the text discussion of pricing in the introductory phase of the product life cycle (PLC):

• Pricing will be high ("skimming") to recover R&D) costs.
• Pricing will be low ("penetration") to attract a large number of buyers.
• Managers may choose either pricing option, depending on their company's strategic goals.

A _________ is the legal term for a registered brand name or brand mark

Which of the following British Invasion brands, if any sued Apple Computer to prevent it from using the Apple logo as part of the iTunes store branding?

• The Rolling Stones
• The Who
• The Kinks
• The Zombies
• The Animals
• None of the above

Quaker Foods, maker of Quaker Oats cereal, is one of the "billion-dollar brands" in the portfolio of parent company PepsiCo. True or False: No other company besides Quaker can use the word "Quaker" in its branding.

• True
• False

Suppose a customer has an emotional "bond" with a brand such that there is a true relationship. Which type of relationship describes how the product or brand - Starbucks, for example - is a part of the user's daily routine?

• Love
• Self-concept attachment
• Interdependence
• Nostalgic Attachment

Our authors call P&G the undisputed branding king of all time, Which company is highlighted in the chapter in the discussion of "sub-branding?"

• Constellation Brands
• Virgin Group
• Steinway
• Costco
• Disney

Our authors note that "there's a potential dark side to having too many brands." Which of the following automakers is cited in the text for "muddy differentiation in its brand portfolio."

• Honda
• Ford
• Chrysler
• GM
• Volkswagen

Two retail chains, Costco (USA) and Loblaw's (Canada), are highlighted in Chapter 9 in conjunction with a discussion of _________. (Hint: We've also cited Trader Joe's as a similar example.)

• Brand equity
• generic brands
• private-label brands
• co-branding
• brand extensions

The SC Johnson Company, headquartered in Racine, Wisconsin, markets a variety of products including Pledge furniture wax, Windex window cleaner, Raid insecticide, Glade air freshener, and a host of other household brands. By definition, these are all manufacturer brands.

• True
• False

One important element of packaging and labeling is the UPC, which stands for ___________________

A firm's costs can be divided into fixed costs and ________ costs.

• Value
• virtual
• variety
• variable
• volatile

As we have discussed, Elon Musk's efforts to revolutionize the automobile industy have really paid off. Hertz just ordered 100'000 vehicles! However, just a couple of years ago, efforts to ramp up production of the $35,000 Tesla Model 3 were hampered by quality issues. Musk announced that in an effort to cut costs, all 100 of Tesla's U.S. showrooms would be closed ant that the company would move to an online only sales model. This move was designed to bring down the quantity of Model 3 cars the company needed to sell to break even on them. Thinking about the closing of the retail locations (and the resultant savings in the lease, insurance, utilities, and similar costs), which kind of cost is Musk targeting.

• Fixed Cost
• Variable Costs

Suppose you are in the market for an electric vehicle. You go to the Tesla web site and you see the Tesla Model 3 ($35,000) displayed side by side with a Nissan Leaf ($29,900). You think "The Nissan is probably not as good a car as a Tesla. I think I'll spend five grand more for the Tesla." In terms of consumers' perceptions of price, which concept is evident here:

• Contrast effect
• Assimilation Effect

For which type of product (normal or prestige) does the demand curve take the form of a curved line, as opposed to a straight line.

• Normal Product
• Prestige Product
• Either normal product or prestige product.
• By definition, demand curves are always curved lines

On p. 1 of the Chapter 10 study guide, there is a brief case study of SCARPA, an Italian athletic shoe manufacturer. This material is not in the textbook. However, it offers a real - life example of a key concept discussed in Chapter 10. What is that concept?

• Break-even pricing
• cost-of-goods-sold costing
• captive pricing
• odd-even pricing
• target pricing

The point at which a firm's total revenue and total costs are equal is called the ___________ point

Which of the following broad economic trends can affect the success of a companies pricing strategy:

• inflation
• economic growth
• consumer confidence
• the business cycle
• All of the above

Thinking about pricing objectives and psychological issues in setting prices, which of the following terms, if any, is not consistent with the other:

• image enhancement objective
• premium pricing
• prestige pricing
• status-conscious consumers
• All of these terms are consistent with each other.