Principles of Marketing 6 weeks test

a. products and services designed to deliver value to customers
Offerings are _____.

Select one:
a. products and services designed to deliver value to customers
b. services designed to satisfy customer needs
c. products designed to satisfy customer wants
d. products and services designed to deliver value to a firm
e. products and services designed to add value to the firms marketing mix

d. the best way to capture market share is to create and manufacture better products at lower prices. Correct
A product-dominant approach to marketing is based on the belief that

Select one:
a. enjoyment of a product and its disposal are important in understand consumer needs.
b. marketers should consider what services it takes for the customer to acquire their offerings.
c. sales personnel and marketing can drive consumerism.
d. the best way to capture market share is to create and manufacture better products at lower prices.
e. marketers should assess the value customers place on products in their daily lives.

e. product line
A group of related offerings is known as a _____.
Select one:
a. technology platform
b. product mix
c. service mix
d. product category
e. product line
d. Raw materials offerings
_____ are typically thought of as commodities, so price and availability are very important in relation to the competition.

Select one:
a. Original equipment manufacturing offerings
b. Capital equipment offerings
c. Facilitating offerings
d. Raw materials offerings
e. Maintenance, repair, operations offerings

b. a name, picture, design, or symbol used by a seller to differentiate their offerings
A brand is _____.
Select one:
a. simply a label
b. a name, picture, design, or symbol used by a seller to differentiate their offerings
c. a picture that is similar to another company’s design
d. a slogan that conveys the firm’s image
e. an advertising campaign
c. if the product fits with the image and corporate strategy.
In the idea screening stage, companies evaluate new offerings by determining
Select one:
a. if the product cost more during idea generation than expected.
b. the product’s features.
c. if the product fits with the image and corporate strategy.
d. the product’s specifications.
e. if the product works like it is supposed to.
c. what consumers want and need.
The feature specifications process begins with a strong understanding of
Select one:
a. what risks are involved.
b. what opportunity costs are entailed.
c. what consumers want and need.
d. what the financial feasibility of the product is.
e. what the marketing mix should entail at launch.
e. Beta testing
_____ not only tests whether the offering works as advertised, but it also tests the offering’s delivery mechanisms, service processes, and other aspects of marketing the product.
Select one:
a. Concept testing
b. Product testing
c. Alpha testing
d. Primary testing
e. Beta testing
a. maturity
The stage in the product life cycle when the market is saturated with competitors is known as the _____ stage.
Select one:
a. maturity
b. growth
c. introduction
d. decline
e. downsizing
b. skimming pricing strategy
A(n) _____ is utilized to get back the money invested in creating a new product offering.

Select one:
a. investment pricing strategy
b. skimming pricing strategy
c. cost-based pricing strategy
d. penetration pricing strategy
e. competitor-based pricing strategy

d. one-to-one marketing
Forming close, personal relationships with customers and giving them exactly what they want is known as _____.

Select one:
a. mass marketing
b. niche marketing
c. differentiated marketing
d. one-to-one marketing
e. psychographic marketing

c. differentiated marketing
Choosing select groups of people to sell to is called _____.

Select one:
a. mass marketing
b. niche marketing
c. differentiated marketing
d. one-to-one marketing
e. psychographic marketing

d. psychographic
This segmentation category answers the question, “How do my customers live their lives?”
Select one:
a. demographic
b. behavioral
c. geographic
d. psychographic
e. geodemographic
a. the stages families go through over time and how it affects people’s buying behavior.
Family life cycle refers to
Select one:
a. the stages families go through over time and how it affects people’s buying behavior.
b. the buying behavior of a family that results in a particular amount of buying power.
c. how often the family purchases particular products in a month.
d. how often a family travels together.
e. the amount of time that passes between each having each child.
b. geographic segmentation
City size and population density are utilized in relation to which type of segmentation strategy?

Select one:
a. targeted segmentation
b. geographic segmentation
c. demographic segmentation
d. geodemographic segmentation
e. benefit segmentation

a. promotional mix
The different types of marketing communications an organization uses comprise its _____.

Select one:
a. promotional mix
b. personal selling
c. advertising
d. publicity
e. direct marketing

c. pull strategy
A(n) _____ involves promoting a product to final consumers.
Select one:
a. push strategy
b. communication process
c. pull strategy
d. frequency
e. IMC strategy
d. perceptual distortion
Marketers are concerned about _____ because they must ensure that you interpret the message as intended.
Select one:
a. perceptual retention
b. feedback
c. encoding
d. perceptual distortion
e. perceptual attention
a. a specific benefit consumers will remember.
A unique selling proposition is
Select one:
a. a specific benefit consumers will remember.
b. a brand name.
c. a repositioning technique.
d. a discounted price.
e. an alternative sales method.
e. Selective demand; primary demand
_____ refers to demand for a specific brand while ____ refers to demand for a product category.

Select one:
a. Competitive parity; AIDA model
b. Open-ended messaging; selective demand
c. Primary demand; selective demand
d. AIDA model; open-ended messaging
e. Selective demand; primary demand

f- all of the above
• What functions do marketing channels perform?
a– form
b– time
c– place
d– possession
e– information exchange
f- all of the above
a producer and a consumer
What is the simplest marketing channel
c- all of the above
What do Brokers, Agents, and
Manufacturers’ Representatives have in common?
a-•Do not take title to goods or services
b-•Match a buyer with a seller and receive a
commission
c- all of the above
a- consists of a user and a seller
What is a direct channel
a- consists of a user and a seller
b- have many components
a-Consists of intermediaries between the producer and
the user.
What is an indirect channel?
a-Consists of intermediaries between the producer and
the user.
b- Sells direct to consumer
a- cutting out the middleman
What is Disintermediation
a- cutting out the middleman
b- having many channels
A- Companies outsource activities to lower their
costs.
Why do companies outsource?
A- Companies outsource activities to lower their
costs.
b- companies are lazy
b- the customers
What is the focus of insourcing and outsourcing?
a- the company
b- the customers
c- all of the above
d- all of the above
What are risks of outsourcing?
A- Outsource activities can include a loss of control
b- product quality
c- safety issues.
d- all of the above