Marketing Finial

New product development starts with_____
Idea Generation
Executive, manufacturing employee, and salespeople are all examples of _____
Internal sources for new-product ideas
In the concept testing stage of new product development, a product concept in ______ form is presented to groups of target consumers
Physical or symbolic
After concept testing, a firm would engage in which stage in developing and marketing a new product?
Marketing strategy development
During which stage of new-product development will management most likely estimate minimum and maximum sakes ti access the range of risk in launching a new product?
Business Analysis
In the _____ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them
product development
Introducing a new product into the market is called______
test marketing
Increasing profits will most likely occur at which stage of the PLC
Growth
All of the following are accurate descriptions of a style, Except which one?
Styles last only a short time and tend to attract only a limited following
Flurrbies, winter accessories which fell in and out of favorability with customers quickly, are example of a _____
fad
Price is the only element in the marketing mix that produces____
revenue
Value-base pricing is the reverse processor ____ pricing
Cost-based
_____ involves charging a constant low price with few or no temporary price discounts
everyday low pricing (EDLP)
Fixed costs____ as the number of units produced increases
remain the same
Costs that do not vary with production or sales level are referred to as ____ costs
Fixed
Costs that vary directly with the level of production are referred to as ____ costs
variable
____ are the sum of the ____ and ___ for any given level of production
Total costs, fixed, variable
Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ______
market-skimming pricing
By definition, this type of pricing is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differenced in cost
segmented pricing
What type of pricing is being used when a company temporarily prices its product below the list price or even below costs to create buying excitement and urgency?
promotional pricing
_____ calls for testing new-product concepts with groups of target consumers
concept testing
_____ is the product life cycle period when sales fall off and profit drops
decline
All of the following are stages the PLC, Except which one?
Adoption
in which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?
introduction
In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?
Growth
In the _____stage, the firm faces a trade-off between high market share and high profit
growth
______ are less frequently purchased consumer products and services that customers compare carefully on stability, quality, price and style. Consumers spend comparisons about these products
shopping products
____are less frequently purchased consumer products and service that customers compare carefully on much time and effort in gathering information and making comparisons about these products
Shopping product
____ consists of activities undertaken to create, maintain, or change the attitude and behaviors of target consumers toward an individual
person marketing
______ is the process of evaluating the attractiveness of the different market segments and selecting one or more segments to enter
market targeting
____ 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
positioning
Senz, an automobile manufacturer, produced low-end vehicles that are targeting toward lower-income consumer groups. Send most likely segments the consumer market based on _____ variable
Demographic
Pacific fisheries group its customers by regions in the u.s. such as midwest, northeast, and southwest. For each region, pacific fisheries tailors and different set of advertisements and promotions. Based on which of the following segmentation variables does the firm divide its market?
Geographical location
ProFem Inc. Caters its line of sports exclusively to women. What type of segmentation does the company use?
Gender
Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called_____ segmentation
Behavioral
Firms that manufacture seasonal products target their consumers primarily through ____ segmentation
Occasion
Market segments that can be effectively reaches and served are said to be ____
accessible
When a market segment is large or profitable enough to serve, it is termed____
Substantial
Marketing the same product to a huge customer base without any customization is referred to as ____
mass marketing
The practice of tailoring products and marketing programs to suit the tastes of specific individuals and location is referred to as _____
micromarketing
Rad, a manufacturer of luxury watches, charges a higher price for it product than its competitors. Despite the high price, the brand is popular among customer for it quality and service in comparison to cheaper alternative available in the market. In this case rad offers ____ value proposition
more- for more
Which positioning strategy offers value for consumer by providing the same brands a competitors at a lower price?
the same for less
using____ positioning strategy, companies can attack the more-for-more strategy of another firm by offering a brand of comparable quality at a lower price
more for less