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Exam 12: Understanding Marketing Principles and Developing Products

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Question 141

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What is the main factor that is used to distinguish expense items from capital items?

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The distinction is largely based on time...

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Question 142

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Branding is a process of using symbols to communicate the qualities of a particular product made by a particular company.

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Question 143

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Which of the following is a convenience service?

Purple Moon markets adventure software to pre-teen girls.This is an example of

Otto's Office Products is a large national company selling office supplies to businesses and everyday consumers.It is compiling an in-house data warehouse in order to identify customers and build relationships with them. The IT department has recommended that Otto's use data mining to build customer profiles and prepare business models to predict future purchasing behaviour.Otto's CEO is not in favour of data mining and argues that it shouldn't be used.Which of the following statements,if true,would support the CEO's argument for not using data mining?

Hilltel sells smartphones and other electronic devices.The company has decided to sell its products internationally and is considering using a standardized marketing approach wherever it sells its products. Hilltel's head of marketing thinks that a standardized marketing strategy will allow the company to portray a consistent global brand.Which of the following,if true about using a single marketing approach,would strengthen his case?

In the 2018 BrandZ Top 100 Global Brands Ranking,the three most successful brands in the world were Google,Apple and Amazon.

Groups of people with similar wants and needs that can be expected to show interest in the same products are called

What are physical products purchased by companies to produce other products called?

Hostess Frito-Lay,the maker of Doritos,spent a year studying how to best reach its target market (teenagers).The researchers hung around shopping malls,schools,and fast-food outlets to watch teens.This is an example of primary data gathering.

Many firms use ________,in which 6 to 15 people are brought together to talk about a product.A moderator leads a discussion,and employees from the sponsoring company may observe the proceedings from behind a one-way mirror.People's comments are taped,and researchers go through the data looking for common themes.

The importance of ________ in marketing can be seen in the example of the introduction of "Crayola IQ" colour pencils because crayons were seen as too "babyish" by 8 to 12-year olds.

What is the last step in the consumer buying process?

What is a product?

It is estimated that it takes 100 new product ideas to generate 1 product that finally reaches the marketplace.Even then,only a few of those become successful products.

If a company requires consumer response to a new product under real conditions,which phase of the product development process would the company use?

Discuss the five common methods of segmenting consumer markets.

In consumer behaviour,what is the name for the influences that include the "way of living" that distinguishes one large group from another and one ethnic group from another?

A market research technique based on questioning a representative sample of consumers about purchasing attitudes and practices is which of the following?

What is a moderately expensive,infrequently purchased good or service called?