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Flashcards in Test 2 Deck (35):
1

_____ consists of evaluating each market segments attractiveness and selecting one or more segments to enter

Market targeting

2

______ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort

Specialty products

3

A company that uses well-known celebrities to help sell its products is using _______ marketing

Person

4

A pen company begins offering new felt-tip pens, multiple-cartridge pens, and quills. These are examples of ______

Product line filling

5

The fundamental asset underlying brand equity is ________, the value of customer relationships that the brand creates

Customer equity

6

Product quality is harder to define and judge than service quality. T or F?

False

7

______ 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

8

What refers to a behavioral segmentation variable that involves segmenting markets into nonusers, ex-users, potential users, first-time users, and regular users of a product

User status

9

______ marketing is more suited for products that vary in design

Differentiated

10

Apex describes its clothing line as “elegance..... for the daily office goer... apex makes sure you get noticed” this is an example of a

Positioning statement

11

Marketing mix planning begins with _____

Building an offering that brings value to target customers

12

_______ are industrial products that aid in the buyers production or operations

Capital items

13

______ occurs when a company lengthens its product line beyond its current range

Product line stretching

14

_______ represents consumers perceptions and feelings about a product and its performance

Brands

15

Branding decisions include determining a product price. T or F?

False

16

Why might idea screening be the most important step of new product development

It saves the company money in product development costs by going ahead with only the product ideas that are likely to be profitable

17

In a ________, new products and marketing tactics are tested among specifically identified groups of customers and stores

Controlled test market

18

In a _________ new products and marketing tactics are tested online in a virtual shopping environment

Simulated test market

19

Harvesting the product involves reducing various costs such as maintenance, R&D, and advertising to increase profits. T or F?

True

20

______ pricing involves charging higher prices on an everyday basis but running frequent promotions to lower prices temporarily on selected items

High-low

21

John assured his venture capitalists an earning of 25 percent return on equity when he began his IT startup. To achieve this, he will most likely use which pricing approach?

Target return pricing

22

What is true of price skimming?

It can be profitably used when the products quality and image support its price

23

Companies that set a low price for a new product in order to attract a large number of buyers and a large market share are using the _______ strategy

Market-penetration

24

Using ______ pricing companies are able to turn their trash into cash, allowing them to make the price of their main product more competitive

By-product

25

What product mix pricing strategy involves pricing multiple products to be sold together

Product bundling pricing

26

Motor zone calculates shipping charges based on shipping from Boston even though sometimes it comes from St. Louis. This is what kind of pricing

Basing-point

27

_______ is a pricing strategy in which sets up two or more clearly identified geographic regions within which all customers pay the same total price

Zone pricing

28

The _______ seeks to prevent unfair price discrimination by ensuring that sellers offer the same price terms to customers at a given price level

Robinson-patman act

29

Price discrimination is legal when

A seller can prove its costs are different when selling to different retailers

30

For segmented pricing to be an effective strategy, prices should reflect real differences in customers perceived value. T or F?

True

31

The term supply chain is considered limited because it _________

Suggests that planning begins with raw materials and factory capacity

32

Conflict that occurs between different levels of the same marketing channel is known as _______ conflict

Vertical

33

What is true of conventional distribution channels?

Channel members seek to maximize their own profits

34

The bookworm began delivering books through mail instead of brick and mortar companies. This is an example of _______

Disintermediation

35

Producers of strong brands sometimes sell to dealers only on the condition that the dealers take some or all of the rest of the product line. This is know as _______

Full-line forcing