3250 Midterm Pearson Questions (All) with verified solutions, Exams of Nursing

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3250 Midterm Pearson Questions (All) with verified solutions

The |first |step |of |the |marketing |process |involves |companies |working |to |____________. |- |correct |answer |-gain |a |better |understanding |of |their |customers

_______ |are |the |form |human |needs |take |as |they |are |shaped |by |culture |and |individual |personality. |- |correct |answer |-Wants

The |____________ |holds |that |achieving |organizational |goals |depends |on |knowing |the |needs |and |wants |of |target |markets |and |delivering |the |desired |satisfactions |better |than |competitors |do. |- |correct |answer |-Marketing |Concept

The |aim |of |_____________ |is |to |produce |high |customer |equity, |the |total |combined |customer |lifetime |values |of |all |of |the |company's |customers. |- |correct |answer |-customer |relationship |management

______________, |which |depends |on |the |product's |perceived |performance |relative |to |a |buyer's |expectations, |is |an |important |factor |in |creating |customer |value |and |building |long-term |market |relationships. |- |correct |answer |-Customer |Satisfaction

The |first |step |of |the |strategic |planning |process |is |to |identify |the |company's |________, |an |explicit |statement |that |clearly |explains |the |organization's |purpose |and |what |it |seeks |to |accomplish. |- |correct |answer |-mission

A |major |activity |in |strategic |planning |is |________ |analysis, |whereby |management |evaluates |the |products |and |lines |of |business |that |make |up |the |company. |- |correct |answer |-business |portfolio

If |Apple |introduced |a |marketing |strategy |designed |to |encourage |new |groups — such |as |seniors — to |visit |its |stores |for |the |first |time, |this |would |be |an |example |of |a |________ |growth |strategy. |- |correct |answer |-marketing |development

Competition |no |longer |takes |place |only |between |individual |rivals. |Rather, |it |takes |place |between |the |________ |networks |created |by |these |competitors. |- |correct |answer |-value |delivery

________ |represents |the |marketing |logic |by |which |the |company |hopes |to |create |customer |value |and |achieve |profitable, |mutually |beneficial |relationships. |- |correct |answer |-Marketing |strategy

Actors |close |to |the |firm |that |affect |its |ability |to |serve |its |customers, |such |as |suppliers, |marketing |intermediaries, |and |competitors, |are |all |components |of |a |company's |______ |- |correct |answer |- microenvironment

Significant |change |in |the |age |structure |of |a |population |is |one |example |of |the |impact |of |the |firm's |________. |- |correct |answer |-macroenvironment

Following |the |Great |Recession, |U.S. |consumers |have |now |adopted |a |back-to-basics |sensibility |in |their |lifestyles |and |spending |patterns |that |will |likely |persist |for |years |to |come. |Marketers |in |all |industries, |in |turn, |are |looking |for |ways |to |offer |today's |more |financially |frugal |buyers |greater |value, |an |approach |known |as |________. |- |correct |answer |-value |marketing

Companies |such |as |P&G, |Walmart, |and |Levi |Strauss |have |recognized |the |growing |________ |in |the |U.S. |population |by |targeting |specially |designed |products, |ads, |and |promotions |to |appeal |to |one |or |more |ethnic, |racial, |or |lifestyle-based |groups. |- |correct |answer |-diversity

To |exercise |their |social |responsibility |and |build |more |positive |images, |many |companies |are |now |linking |themselves |to |worthwhile |charitable |organizations |and |social |issues, |a |practice |known |as |________. |- |correct |answer |-cause-related |marketing

Satisfying |consumers' |immediate |needs |and |desires |may |not |always |serve |the |future |best |interests |of |customers |or |the |business. |Therefore, |________ |calls |for |socially |and |environmentally |responsible |actions |that |meet |both |the |immediate |and |future |needs |of |customers |and |the |company. |- |correct |answer |-sustainable |marketing

Critics |charge |the |marketing |system |with |creating |________ |by |constantly |assaulting |our |senses |with |television |and |radio |commercials, |marring |beautiful |scenery |with |billboards, |and |intruding |on |our |online |browsing |with |flashing |display |ads. |- |correct |answer |-cultural |pollution

________ |is |an |organized |movement |of |citizens |and |government |agencies |to |improve |the |rights |and |power |of |buyers |in |relation |to |sellers. |- |correct |answer |-consumerism

Because |not |all |managers |have |fine |moral |sensitivity, |companies |need |to |develop |________ |policies — broad |guidelines |that |everyone |in |the |organization |must |follow. |- |correct |answer |- marketing |ethics

The |American |Marketing |Association, |an |international |association |of |marketing |managers |and |scholars, |developed |a |code |of |ethics |that |calls |on |marketers |to |adopt |the |following |ethical |norms: |________, |foster |trust |in |the |marketing |system, |and |embrace |ethical |values. |- |correct |answer |-do |no |harm

Marketing |intermediaries |help |the |company |promote, |sell, |and |distribute |its |products |to |final |buyers. |_________ |are |not |marketing |intermediaries. |- |correct |answer |-Suppliers

Which |of |the |following |generations |is |the |most |educated |to |date? |- |correct |answer |-Generation |X

Marketers |target |Generation |Z |because |they |________.

A.dislike |technology

B.spent |an |estimated |$43 |billion |annually |of |their |own |money

C.listen |to |their |parents |and |follow |their |examples

D.prefer |shopping |in |brick-and-mortar |stores |with |actual |products

E.have |long |attention |spans |and |are |easily |targeted |- |correct |answer |-B.spent |an |estimated |$ |billion |annually |of |their |own |money

Which |of |the |following |is |a |trend |that |depicts |the |increasingly |nontraditional |nature |of |today's |American |families?

A.

the |sharply |declining |number |of |stay-at-home |dads

B.

the |decreasing |reliance |on |convenience |foods |and |services

C.

the |sharply |declining |number |of |dual-income |families |

D.

the |low |percentage |of |married |couples |with |children

E.

the |low |percentage |of |working |women |in |the |workforce |- |correct |answer |-D |low |percentage |of |married |couples |with |children

The |________ |environment |offers |marketers |many |opportunities |in |one |of |the |most |dramatic |ways — it |affects |such |wonders |as |antibiotics, |robotic |surgery, |miniaturized |electronics, |smartphones, |and |the |Internet. |- |correct |answer |-technological

Which |of |the |following |is |an |accurate |statement |about |the |diversity |of |the |American |population?

A.

The |United |States |has |become |more |of |a |"melting |pot" |than |a |"salad |bowl."

B.

By |2050, |Hispanics |are |estimated |to |be | 30 |percent |of |the |population.

C.

More |than | 20 |percent |of |the |people |living |in |the |United |States |were |born |in |another |country.

D.

African |Americans |represent |the |largest |non-white |segment |of |the |population.

E.

By |2050, |the |Asian |population |is |estimated |remain |at |4.7 |percent. |- |correct |answer |-B.

By |2050, |Hispanics |are |estimated |to |be | 30 |percent |of |the |population.

Which |of |the |following |situations |is |expected |to |enhance |the |use |of |targeted |advertising |messages |by |marketers? |

A.

rising |global |inflation |rates

B.

increase |in |derived |demand |in |the |market

C.

inadequate |quality |control

D.

increase |in |ethnic |populations

E.

low |advertising |budgets |- |correct |answer |-D.

increase |in |ethnic |populations

Some |companies |hire |lobbyists |to |influence |legislation |affecting |their |industries |and |stage |media |events |to |gain |favorable |press |coverage. |These |firms |will |often |run |________, |which |are |ads |expressing |editorial |points |of |view. |- |correct |answer |-advertorials

Santana |Automobile's |Arrow |is |the |first |mass-produced |hybrid |vehicle, |known |for |its |fuel |efficiency |and |environmental |friendliness. |The |Arrow |is |most |likely |to |become |popular |in |the |________ |market. |- |correct |answer |-LOHAS |(Lifestyles |of |Health |and |Sustainability |(LOHAS) |is |a |demographic |defining |a |particular |market |segment |related |to |sustainable |living, |"green" |ecological |initiatives, |and |generally |composed |of |a |relatively |upscale |and |well-educated |population |segment.)

Which |of |the |following |is |most |likely |influenced |by |marketers?

A.

media

B.

ethnic |diversity

C.

population |shifts

D.

income |distribution

E.

core |cultural |values |- |correct |answer |-A.

media

A |firm |that |advocates |an |approach |to |marketing |that |is |environmentally |and |socially |responsible |is |following |what |aspect |of |marketing? |- |correct |answer |-sustainable |marketing

Critics |charge |that |promotion |adds |only |________ |to |a |product. |- |correct |answer |-Psychological |value

Critics |of |marketing |feel |our |senses |are |being |constantly |assaulted |by |marketing |and |advertising. |Commercials |interrupt |serious |programs; |pages |of |ads |obscure |magazines; |billboards |mar |beautiful |scenery; |spam |fills |our |e-mail |boxes; |and |flashing |display |ads |intrude |on |our |online |and |mobile |screens. |What |is |this |concept |called? |- |correct |answer |-Cultural |pollution

________ |refers |to |the |practice |of |continually |changing |consumer |concepts |of |acceptable |styles |to |encourage |more |and |earlier |buying. |- |correct |answer |-Perceived |obsolescene

When |major |chain |retailers |avoid |placing |stores |in |disadvantaged |neighborhoods, |they |are |likely |to |be |accused |of |the |discriminatory |practice |of |________. |- |correct |answer |-redlining

The |high |failure |rate |of |new |products |shows |that |companies |are |not |able |to |________. |- |correct |answer |-control |demand

It |is |most |accurate |to |say |that |the |recession |of |2008/2009 |has |resulted |in |________. |- |correct |answer |-decline |in |conspicuous |spending

In |response |to |charges |of |________, |marketers |point |out |that |because |of |ads, |many |television |and |radio |sites |are |free |to |users |and |also |keep |down |the |cost |of |magazines |and |newspapers. |- |correct |answer |-cultural |pollution

A |company |that |makes |products |that |give |high |immediate |satisfaction |but |may |hurt |consumers |in |the |long |run |makes |________ |products. |- |correct |answer |-pleasing

Bicycle |helmets |have |low |immediate |appeal, |but |they |tend |to |benefit |consumers |in |the |long |run. |This |indicates |that |a |bicycle |helmet |is |an |example |of |a |________ |product. |- |correct |answer |- Salutary

The |________ |model |of |buyer |behavior |suggests |that |marketing |and |other |stimuli |enter |the |consumer's |"black |box" |and |produce |certain |attitudinal |and |behavioral |responses. |- |correct |answer |-stimulus-response

An |individual's |________, |that |is, |the |shared |beliefs |and |values |that |distinguish |one |group |from |another, |is/are |the |most |basic |cause |of |a |person's |wants |and |behavior. |- |correct |answer |-culture

Gatorade's |famous |"Like |Mike" |campaign |featuring |Michael |Jordan |appealed |to |young |athletes |who |idolized |the |NBA |star. |This |promotional |campaign |is |an |example |of |how |marketers |effectively |utilize |________ |in |promoting |their |products |and |services. |- |correct |answer |-aspirational |groups

For |the |purchase |of |products |like |table |salt, |which |often |occur |under |conditions |of |low-consumer |involvement |and |little |significant |brand |difference, |consumers |typically |engage |in |________ |buying |behaviors. |- |correct |answer |-habitiual

The |first |stage |of |the |buyer |decision |process, |________, |can |be |triggered |by |either |internal |or |external |stimuli. |- |correct |answer |-need |recognition

The |more |complex |the |purchase, |the |more |likely |it |is |that |several |people |will |participate |in |the |decision-making |process. |Buying |committees |composed |of |technical |experts |and |top |management |are |common |in |the |buying |of |major |goods. |These |organizational |groups |are |commonly |referred |to |as |the |________. |- |correct |answer |-buying |center

Business |demand |for |Gore-Tex |fabrics |derives |from |consumer |purchases |of |outdoor |apparel |brands |made |from |Gore-Tex. |This |is |an |example |of |the |concept |of |________. |- |correct |answer |-derived |demand

Jim |is |an |account |manager |for |a |leading |paper |manufacturing |and |supply |company |based |in |the |Northeast |U.S. |One |of |his |leading |clients, |a |leading |education |publisher, |wants |to |change |product |specifications |and |the |terms |of |its |delivery |schedules. |This |type |of |purchasing |situation |would |be |categorized |as |a |________. |- |correct |answer |-modified |rebuy

Many |large |retailers |such |as |Walmart, |Target, |Home |Depot, |and |Lowe's |have |turned |over |ordering |and |inventory |responsibilities |to |their |suppliers, |a |practice |commonly |referred |to |as |________. |- |correct |answer |-vendor-managed |inventory

The |________ |market |consists |of |schools, |hospitals, |nursing |homes, |prisons, |and |other |institutions |that |provide |goods |and |services |to |people |in |their |care. |- |correct |answer |-institutional

________, |which |divides |the |market |into |segments |based |on |variables |such |as |age, |life-cycle |stage, |and |gender, |is |the |most |commonly |used |approach |to |segmenting |consumer |markets. |- |correct |answer |-demographic |segmentation

________ |divides |buyers |into |different |segments |based |on |social |class, |lifestyle, |or |personality |characteristics. |- |correct |answer |-Psychographic |segmentation

P&G |markets |at |least |six |different |laundry |detergent |brands |in |the |United |States |(Tide, |Gain, |Cheer, |Era, |Dreft, |and |Bold), |which |compete |with |each |other |on |supermarket |shelves. |P&G |further |segments |each |detergent |brand |to |serve |even |narrower |niches. |This |is |an |example |of |a(n) |________. |- |correct |answer |-differentiated |marketing |strategy

A |________ |illustrates |consumer |views |of |brands |versus |those |of |competing |products |on |important |buying |dimensions. |- |correct |answer |-positioning |map

A |brand's |________ |represents |the |full |mix |of |benefits |on |which |a |brand |is |differentiated |and |positioned |and |is |the |answer |to |the |customer's |question, |"Why |should |I |buy |your |brand?" |- |correct |answer |-value |proposition

Many |companies |use |ethnically |specific |themes |in |their |mainstream |marketing |strategy |because |marketers |have |realized |that |insights |gleaned |from |ethnic |consumers |can |influence |their |broader |markets. |This |type |of |marketing |is |known |as |________ |marketing. |- |correct |answer |-cross-cultural

________ |are |ambassadors |who |share |their |passion |for |a |company's |products |with |large |circles |of |friends |and |acquaintances |in |return |for |insider |knowledge |and |other |rewards. |- |correct |answer |- Brand |evangelists

Which |subcultural |market |segment |is |the |most |affluent |demographic |segment? |- |correct |answer |- Asians |Americans

Which |of |the |following |terms |refers |to |a |specific |mix |of |human |traits |that |may |be |attributed |to |a |particular |brand? |- |correct |answer |-brand |personality

________ |refers |to |the |unique |psychological |characteristics |that |distinguish |an |individual |or |group. |- |correct |answer |-personality

In |the |context |of |the |AIO |dimensions |for |measuring |consumers' |lifestyles, |"A" |stands |for |________. |- |correct |answer |-activities

________ |means |that |consumers |are |likely |to |remember |good |points |made |about |a |brand |they |favor |and |forget |good |points |made |about |competing |- |correct |answer |-selective |retention

Which |of |the |following |consumer |buying |behaviors |is |related |to |conditions |of |low-consumer |involvement |and |little |significant |brand |difference? |- |correct |answer |-habitual |buying |behavior

The |information |sources |that |are |the |most |effective |at |influencing |a |consumer's |purchase |decision |are |________. |These |sources |legitimize |or |evaluate |products |for |the |buyer. |- |correct |answer |- personal

Which |of |the |following |best |describes |divisibility |of |an |innovation |that |influences |the |rate |of |adoption?

A.

It |is |the |degree |to |which |the |innovation |is |difficult |to |understand.

B.

It |is |the |degree |to |which |the |innovation |appears |superior |to |existing |products.

C.

It |is |the |degree |to |which |the |results |of |using |the |innovation |can |be |observed |or |described |to |others.

D.

It |is |the |degree |to |which |the |innovation |fits |the |values |and |experiences |of |potential |consumers.

E.

It |is |the |degree |to |which |the |innovation |may |be |tried |on |a |limited |basis. |- |correct |answer |-E.

It |is |the |degree |to |which |the |innovation |may |be |tried |on |a |limited |basis.

Candy, |laundry |detergent, |and |magazines |are |all |examples |of |________ |products, |which |are |consumer |products |and |services |that |customers |usually |buy |frequently, |immediately, |and |with |minimal |comparison |and |buying |effort. |- |correct |answer |-convenience

________ |are |industrial |products |that |aid |in |the |buyer's |production |or |operations, |including |installations |and |accessory |equipment. |- |correct |answer |-Capital |items

Some |doctors |charge |their |patients |when |they |do |not |show |up |for |their |appointment, |reasoning |that |the |value |of |the |service |was |present |at |the |appointment |time |and |disappeared |when |the |patient |failed |to |show |up. |This |example |illustrates |the |service |characteristic |of |________. |- |correct |answer |-perishability

A |brand |has |positive |________ |when |consumers |react |more |favorably |to |it |than |to |a |generic |or |unbranded |version |of |the |same |product. |- |correct |answer |-brand |equity

Starbucks' |introduction |of |packaged |supermarket |coffees |is |an |example |of |the |concept |of |________. |- |correct |answer |-brand |extension

The |business |marketer |normally |deals |with |________ |than |the |consumer |marketer |does. |- |correct |answer |-far |fewer |but |far |larger |buyers

Sigma |Inc., |a |software |firm |based |in |California, |reordered | 50 |printers |from |the |designated |provider |without |any |modifications. |This |is |an |example |of |________. |- |correct |answer |-a |straight |rebuy

In |a |straight |rebuy, |________. |- |correct |answer |-the |"in" |suppliers |try |to |maintain |product |and |service |quality |to |keep |the |business

________ |occurs |when |someone |in |the |company |identifies |a |need |that |can |be |met |by |acquiring |a |specific |product |or |service. |- |correct |answer |-Problem |recognition

In |which |stage |of |the |business |buying |process |does |a |buyer |ask |users |to |rate |their |satisfaction |with |the |supplied |materials? |- |correct |answer |-performance |review

________ |refers |to |buying |a |packaged |solution |to |a |problem |from |a |single |seller, |thus |avoiding |all |the |separate |decisions |involved |in |a |complex |buying |situation. |- |correct |answer |-systems |selling

Which |of |the |following |is |an |organizational |factor |that |influences |business |buyers? |- |correct |answer |-company |procedures

Sail |Metalworks |Inc. |is |currently |looking |for |the |best |vendors |of |metal |sheets. |In |other |words, |Sail |Metalworks |is |________. |- |correct |answer |-conducting |a |supplier |search

Under |________, |buyers |share |sales |and |inventory |information |directly |with |key |suppliers |who |monitor |and |replenish |the |buyer's |stock |automatically |as |needed. |- |correct |answer |-vendor- managed |inventory

All |of |the |following |are |difficulties |associated |with |selling |to |government |buyers |EXCEPT |________. |- |correct |answer |-high |advertising |costs

________ |involves |actually |distinguishing |the |firm's |market |offering |to |create |superior |customer |value. |- |correct |answer |-differentiation

________ |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. |- |correct |answer |- positioning

A |grocery |chain |decides |to |divide |the |market |into |urban, |suburban, |and |rural |markets |and |then |direct |efforts |towards |the |suburban |segments |first |and |eventually |move |into |urban |areas. |The |grocer |is |employing |what |type |of |segmentation? |- |correct |answer |-Geographic

________ |requires |finding |the |major |advantages |people |look |for |in |a |product |class, |the |kinds |of |people |who |look |for |each |positive |aspect |of |a |product, |and |the |major |brands |that |deliver |it. |- |correct |answer |-Benefit |segmentation

Market |segments |that |can |be |effectively |reached |and |served |are |________. |- |correct |answer |- accessible

________ |refers |to |a |market-coverage |strategy |in |which |a |firm |decides |to |ignore |market |segment |differences |and |go |after |the |whole |market |with |one |offer. |- |correct |answer |-undifferentiated |marketing

Which |of |the |following |marketing |strategies |is |most |suitable |for |smaller |firms |with |limited |resources? |- |correct |answer |-niche |marketing

The |________ |is |the |way |a |product |is |defined |by |consumers |or |the |place |the |product |occupies |in |consumers' |minds |relative |to |competing |products. |Products |are |made |in |factories, |but |brands |happen |in |the |minds |of |consumers. |- |correct |answer |-product |position

________ |marketing |is |more |suited |for |uniform |products, |such |as |grapefruit |or |steel. |- |correct |answer |-undifferentiated

Stores |such |as |Walmart, |Best |Buy, |PetSmart, |David's |Bridal, |and |DSW |Shoes |use |________ |positioning. |- |correct |answer |-same |for |less

Google's |"Innovation |Time-Off" |and |3M's |"Dreamdays" |programs, |in |which |employees |are |granted |time |away |from |their |regular |duties |in |order |to |develop |new |innovations, |are |examples |of |a |concept |known |as |________. |- |correct |answer |-intrapreneurship

________ |calls |for |testing |new |product |concepts |to |groups |of |target |consumers. |- |correct |answer |- concept |testing

With |respect |to |the |product |life |cycle, |the |________ |stage |is |a |period |of |slowdown |in |sales |growth |because |the |product |has |achieved |acceptance |by |most |potential |buyers. |- |correct |answer |-maturity

During |the |________ |stage |of |the |product |life |cycle, |firms |often |shift |some |advertising |from |simply |building |awareness |toward |building |stronger |brand |conviction |and |purchase |behaviors. |- |correct |answer |-growth

As |a |result |of |growing |litigation |and |increased |product |liability |insurance, |some |companies |are |now |appointing |________, |whose |job |is |to |protect |consumers |from |harm |and |the |company |from |liability |by |proactively |ferreting |out |potential |product |problems. |- |correct |answer |-product |stewards

Rather |than |competing |head |to |head |with |established |competitors, |many |companies |seek |out |unoccupied |positions |in |uncontested |market |spaces. |By |aiming |to |create |products |and |services |for |which |there |are |no |direct |competitors, |the |goal |of |________ |is |to |make |competition |irrelevant. |- |correct |answer |-blue-ocean |strategy

The |video-rental |superstore |Blockbuster |didn't |go |bankrupt |at |the |hands |of |other |traditional |brick- and-mortar |retailers. |It |fell |victim |first |to |unexpected |competitors |such |as |direct |marketer |Netflix |and |kiosk |marketer |Redbox, |and |then |to |a |host |of |new |digital |video |streaming |services |and |technologies. |Blockbuster's |inability |to |recognize |new |sources |of |competition |may |be |referred |to |as |________. |- |correct |answer |-competitor |myopia

By |focusing |on |the |needs |of |small- |and |medium-sized |businesses, |often |overlooked |by |larger |players, |ByGeorge |Marketing |& |PR |has |achieved |a |small, |but |highly |profitable |market |share |in |its |region. |This |approach |is |known |as |a(n) |________ |strategy. |- |correct |answer |-market |nicher

Although |the |market |leader |is |able |to |gather |dominant |market |shares, |researchers |have |found |that |in |many |cases |that |later |challengers |are |able |to |achieve |profits |by |closely |observing |what |the |market |leader |successfully |does |and |copying |or |improving |upon |it. |This |approach |is |known |as |a |________ |strategy. |- |correct |answer |-market |follower

One |of |the |negatives |associated |with |a |________ |strategy |is |that |a |company |may |end |up |simply |matching |or |extending |industry |practices |rather |than |seeking |innovative |new |ways |to |create |more |value |for |customers. |- |correct |answer |-competitor-centered

Which |of |the |following |product |offerings |is |intangible?

A.

an |ink |cartridge |for |a |printer

B.

a |wool |jacket |

C.

a |taxi |ride

D.

a |package |of |laundry |detergent

E.

a |gold |ring |- |correct |answer |-C.

a |taxi |ride

Which |of |the |following |is |an |example |of |a |convenience |product? |- |correct |answer |-fast |food

Many |experts |say |that |the |most |distinctive |skill |a |professional |marketer |might |have |is |the |ability |to |build |and |manage |a |________, |which |can |include |a |name, |term, |sign, |symbol, |or |design, |or |a |combination |of |these. |- |correct |answer |-brand

________ |occurs |when |a |company |introduces |additional |items |in |a |given |product |category |under |the |same |brand |name, |such |as |new |flavors, |forms, |colors, |ingredients, |or |package |sizes. |- |correct |answer |-Line |extension

________ |refers |to |the |characteristics |of |a |product |or |service |that |bear |on |its |ability |to |satisfy |stated |or |implied |customer |needs. |- |correct |answer |-product |quality

A |________ |consists |of |all |the |product |lines |and |items |that |a |particular |seller |offers |for |sale. |- |correct |answer |-product |mix

Procter |and |Gamble |divides |its | 106 |American |brands |into | 7 |categories |such |as |laundry, |detergents, |shampoos |and |hair |care, |and |so |on. |Within |each |of |those | 7 |categories, |shampoo, |for |example, |has |multiple |competing |brands |such |as |Pantene, |Herbal |Essence, |and |Head |and |Shoulders, |with |5dash- 35 |varieties |of |sizes |and |scents |in |each |brand. |Pantene |shampoo, |conditioner, |and |hair |styling |products |are |available |in | 33 |different |versions |representing |which |aspect |of |the |firm's |offering? |- |correct |answer |-Product |depth

Which |of |the |following |is |the |lowest |level |on |which |marketers |can |position |their |brands |in |target |customers' |minds? |- |correct |answer |-product |attributes

An |increasing |number |of |retailers |and |wholesalers |have |created |their |own |________, |also |called |store |brands. |- |correct |answer |-private |brand

Which |of |the |following |strategies |involves |weeding |out |weaker |brands |and |focusing |marketing |dollars |only |on |brands |that |can |achieve |the |number |one |or |number |two |market |share |positions |with |good |growth |prospects |in |their |categories? |- |correct |answer |-megabrand |strategies

Which |of |the |following |is |the |practice |of |inviting |broad |communities |of |customers, |employees, |independent |researchers, |and |members |of |the |public |into |the |new |product |innovation |process? |- |correct |answer |-crowdsourcing

A |detailed |version |of |a |new |idea |stated |in |meaningful |customer |terms |is |called |a |product |________. |- |correct |answer |-concept

Once |the |prototype |of |Wainwright |Industries' |new |riding |lawnmower, |made |especially |for |women, |passes |product |tests, |the |next |step |is |________. |- |correct |answer |-test |marketing

Marketing |researchers |for |a |new |golf |glove |to |be |introduced |to |the |golf |market |measure |consumer |responses |to |the |product |in |various |fabrics |and |colors, |and |styles |as |well |pricing |and |other |marketing |tactics |in |a |laboratory |"pro |shop." |Which |research |method |is |the |firm |employing? |- |correct |answer |-simulated |market |laboratory |test

Many |firms |do |not |use |a |traditional |sequential |process |of |new |product |development |that |passes |the |product |from |department |to |department. |Instead, |they |use |__________ |new |product |development, |which |assembles |people |from |various |departments |who |stay |with |the |new |product

|from |start |to |finish. |Which |type |of |new |product |development |approach |is |this? |- |correct |answer |- team-based

During |which |period |of |the |PLC |are |sales |zero? |- |correct |answer |-Product |development

Which |stage |of |PLC |typically |lasts |the |longest, |and |consequently |there |are |more |products |in |this |stage |of |the |product |life |cycle |than |at |any |other |point |in |the |PLC? |- |correct |answer |-maturity

According |to |the |PLC, |the |________ |stage |is |reached |when |sales |plunge |to |zero, |or |when |they |drop |to |a |low |level |where |they |continue |for |many |years. |- |correct |answer |-decline

Which |stage |in |the |PLC |normally |lasts |longest |and |poses |strong |challenges |to |marketing |managers? |- |correct |answer |-maturity

LegalZoom |was |the |first |Web |site |developed |to |assist |consumers |in |doing |legal |transactions |such |as |writing |wills, |getting |divorced, |and |doing |simple |patent |and |trademark |work |online |without |hiring |a |lawyer. |LegalZoom |is |a(n) |________ |in |the |industry |starting |out |in |the |introductory |stage |of |the |PLC. |- |correct |answer |-pioneer

To |compete |successfully |and |build |enduring, |profitable |customer |relationships, |the |firm |must |deliver |more |value |and |satisfaction |to |target |customers |than |competitors |do. |What |is |this |edge |in |the |market |called? |- |correct |answer |-competitive |advantage

The |music |industry, |which |controlled |the |production |of |all |records, |tapes, |and |CDs, |was |caught |off- guard |by |Apple |when |it |began |to |sell |iTunes |at | 99 |cents |a |song. |Today, |Apple |has |the |market |share |in |music |sales |and |the |music |industry |suffered |from |what? |- |correct |answer |-competitor |myopia

As |part |of |the |competitive |analysis |process, |a |firm |might |compare |itself |against |other |firms, |comparing |the |company's |products |and |processes |to |those |of |competitors |or |leading |firms |in |other |industries |to |identify |best |practices |and |find |ways |to |improve |quality |and |performance. |What |is |this |process |called? |- |correct |answer |-benchmarking

According |to |Porter, |there |are |essentially |three |successful |competitive |strategies |a |firm |can |pursue |in |the |marketplace. |The |firm |is |advised |to |follow |a |very |clear |strategy |of |either |overall |cost |leadership, |differentiation, |or |__________. |- |correct |answer |-focus |strategy

Amazon |sells |the |Kindle, |an |e-reader |device, |from |which |Amazon's |extensive |inventory |of |books |and |magazines |can |be |purchased. |According |to |the |Porter |competitive |strategy |approach, |which |one |does |Amazon |pursue? |- |correct |answer |-differentiation

Firms |such |as |Walmart, |IKEA, |and |Zara |are |at |the |top |of |their |respective |markets |in |large |part |because |they |successfully |follow |a |value |discipline |of |________. |- |correct |answer |-operational |excellence

Dell |produces |and |delivers |PCs |of |competitive |quality |at |lower |costs. |The |company |constantly |aims |to |achieve |low |production |and |distribution |costs |to |win |a |large |market |share. |Dell |utilizes |a(n) |________ |strategy |very |effectively. |- |correct |answer |-overall |cost |leadership

If |a |company's |aim |is |to |make |its |own |and |competing |products |obsolete |and |serve |customers |who |want |state-of-the-art |products |and |services, |it |is |using |a |value |discipline |called |________. |- |correct |answer |-product |leadership

Firms |that |serve |small |segments |not |being |pursued |by |other |firms |are |called |________. |- |correct |answer |-market |nichers

Which |of |the |following |conditions |would |enable |higher |market |share |to |produce |higher |profits? |- |correct |answer |-when |unit |costs |drop |as |market |share |increases