Question 1

The _____ element of the marketing mix includes the way the product is designed and classified,positioned,branded,and packaged.

Accepted Answer

The product element of the marketing mix refers to the actual product or service being offered, and encompasses design, classification, branding, packaging, and positioning.

Question 2

The _____ refers to the consumer's perception of the product as a bundle of values of utilitarian and symbolic values aimed at satisfying various functional,social,psychological,economic,and other consumer needs and wants.

Accepted Answer

The total product concept refers to the idea that a product is seen as more than just a physical item, but rather a bundle of values aimed at satisfying various consumer needs and wants. This includes both utilitarian values (such as quality and functionality) and symbolic values (such as social status and self-expression).

Question 3

One company manufactures sweatshirts that,according to ad testimonials,"capture the essence of a cat and the heart of its owner." This company is using _____ segmentation to market its shirts.

Accepted Answer

Psychographic segmentation allows marketers to group people by their values, attitudes, personality, and lifestyle.

Question 4

A pizza restaurant buys fountain drinks,which it sells to its customers.The pizza restaurant is an example of a(n):

Accepted Answer

Many business marketers sell to resellers, such as retail businesses that resell to consumers.

Question 5

Over the past decade,brands that were once available exclusively to the wealthiest among us have created more affordable product extensions,giving a far broader range for consumers who want to taste the good life.Jaguar,for instance,recently launched its X-type sedan,which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury.By marketing to people who desire a luxurious lifestyle,Jaguar is using:

Accepted Answer

Psychographic segmentation allows marketers to group people by their values, attitudes, personality, and lifestyle.

Question 6

What is the next step for a marketer once market segmentation has been done?

Accepted Answer

Once market segmentation has been done, the next step for a marketer is to move onto the target marketing process. This involves identifying which specific segments of the market to target with marketing efforts and developing a marketing mix tailored to that segment's needs and preferences.

Question 7

When compared to consumer markets,business markets:

Accepted Answer

Business markets employ professional buyers and use systematic purchasing procedures.

Question 8

Purchase decisions in the business market are often made on the basis of _____; business marketers should emphasize these issues in their promotional appeals.

Accepted Answer

Product price is often a key factor in business purchasing decisions, as businesses are looking to get the best value for their money.

Question 9

Consumer demand for a whole product category such as DVD players,pickles,or laptop computers is called _____ demand.

Accepted Answer

Primary demand is when consumers demand for the whole product category, not just the company's own brand.

Question 10

Before starting a canine clothing company,its owner realized that he was treating his dog as if it were a child and that a lot of his friends did the same thing.So in what he perceived as a dog-friendly environment,he launched a line of doggie pajamas-available from size 6 for Chihuahuas to size 30 for Great Danes.The ads for the pajamas had to convince people that dogs slept better in pajamas.A product that has to create primary demand is more than likely to be in the _____ stage of the product life cycle.

Accepted Answer

During the introductory phase of any new product category, the company incurs considerable costs for educating customers, building widespread dealer distribution, and encouraging demand.

Question 11

Which of the following statements about the target marketing process is true?

Accepted Answer

The target marketing process typically involves segmenting the market, targeting specific segments that offer the greatest profit potential, and then positioning the brand in those segments. Therefore, the first step is to assess which of the newly created segments offer the greatest profit potential and which can be the most successfully penetrated. The target marketing process does not determine the content, look, and feel of a company's advertising (A). Developing primary demand is part of the broader marketing process (B). An advertiser may select multiple target markets to reach (C). The setting of the advertising budget is part of the broader marketing process, not specifically the target marketing process (D).

Question 12

_____ includes basic principles,tangible markers of success or accomplishment,or a desire for experiences or to take risks.

Accepted Answer

The description given fits the definition of primary motivation, which includes basic principles (such as fairness or justice), tangible markers of success or accomplishment (such as wealth or status), or a desire for experiences or to take risks.

Question 13

The North American Industry Classification System (NAICS)codes:

Accepted Answer

NAICS codes organize industries in our economy into 20 broad sectors, ranging from agriculture, forestry, fishing, and hunting to arts, entertainment, and recreation. This system is widely used by marketers, researchers, and government agencies in the United States to classify businesses and analyze market trends. It has no official relationship with Brazil or China, and there is no information about the development of a strategic industrial classification to replace NAICS codes.

Question 14

Two bowling alleys are three miles apart.Customers went to the bowling alley on the eastside of town for relaxation and exercise.The priority wasn't exclusively on bowling; the activity could just as easily have been billiards or swimming.The customers at the bowling alley on the west side of town went bowling primarily to meet and interact with friends.Many of the league bowlers in this facility were employed in repetitive task jobs.The lanes were a place to compete with their peers and excel.This situation describes the _____ for using the bowling alleys.

Accepted Answer

Primary motivation is the pattern of attitudes and activities that help people reinforce, sustain, or modify their social and self-image.

Question 15

To appeal to a new target market,a maker of coffee has changed the product's package design,reformulated the coffee,begun advertising price discounts in women's magazines,and started distributing the product through gourmet coffee shops.What exactly has been changed?

Accepted Answer

The company changed its product, price, place, and promotion - or the four Ps.

Question 16

Hard apple cider is making a comeback.Cider consumption should hit 15 million cases annually this decade.Early adopters of cider are the same group that first gravitated to the microbreweries.Apple cider drinkers like the notion that it is basically a fruit drink.It conjures up healthy associations and appeals to people who do not view themselves as serious connoisseurs.What segmentation variable should a cider brewery use to define its market?

Accepted Answer

Psychographics group people according to their lifestyles.

Question 17

Which of the following marketing activities most likely takes place in the business market?

Accepted Answer

Business markets include manufacturers, government agencies, wholesalers, retailers, banks, and institutions that buy goods and services to help them operate.

Question 18

A farming company has partnered with a corn growing company to create a new feed for cattle made out of corn fiber.During the _____ stage of the product,advertising costs will be high as the farming company tries to establish itself as a market leader and gain a large share of the market before the product enters the growth stage.

Accepted Answer

During the introductory phase of any new product category, the company incurs considerable costs for educating customer, building widespread dealer distribution, and encouraging demand.

Question 19

The _____ for disposable washcloths with extra gentle baby wash built right in is first-time parents who have a good supply of discretionary income and who value their time more highly than they value their environment.

Accepted Answer

The target market is the group of segments that the company wishes to appeal to, design products for, and tailor its marketing activities toward.

Question 20

The Values and Lifestyles (VALS)typology uses a two-dimensional structure based on:

Accepted Answer

The VALS typology uses a two-dimensional structure based on primary motivation (inner-directed or outer-directed) and resources (innovative, achiever, experiencer, and survivor). It does not use geographic variables or consumer perceptions, self-orientation or product differentiation, or target marketing strategy and product positioning strategy.

Quiz 6: Market Segmentation and the Marketing Mix