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Exam 12: Understanding Marketing Principles and Developing Products

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Question 81

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Value is determined by comparing a product's ________;the formula requires dividing ________.

A) costs and benefits;benefits by costs
B) price and quality;price by quality
C) price and durability;durability by price
D) quality and durability;quality by durability
E) availability and price;price by availability

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Question 82

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Suppose that you have just obtained your first job after graduation,and you conclude that your new income will allow you to purchase items that were once too expensive for you.You are in the information seeking stage of the consumer buying process.

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Question 83

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People with similar wants and needs constitute ________,which clearly requires ________.

The comments of people in a focus group are taped,and researchers go through the data looking for common themes in participants' comments.

What is an inexpensive good or service purchased and consumed rapidly and regularly called?

Which defining word or phrase below best captures the meaning of capital items?

Bentley Corp.is involved in the new product development process.Their first step was to solicit ideas for a new product from the company's sales force,the research and development group,and the engineering department.Their next step is to use market research to solicit consumers' input about the ideas they are working on.

Which of the following should be considered in the demographic variables for market segmentation?

Primary data are

While Sylvia has not asked teenage consumers any questions,she has noted that they tend to purchase green nail polish,as opposed to purple.Which research method has Sylvia used?

Specialty goods are important and expensive purchases for the buyers who decide on what they want,and they accept no substitutes.

Sally spent the day in the local grocery store passing out free samples of a new potato chip brand.Sally gave every second customer the new chip with dip and every other customer the new chip without dip.What type of research was Sally conducting?

During this stage of a product's life cycle marketers focus on making potential consumers aware of the product and its benefits.Profits are non-existent or small.This is the ________ stage.

What kind of business activity is a grocery store engaged in when it sells meat to a homemaker?

A car like the Chevrolet Cruze tends to be positioned based on economy,while a Porsche tends to be positioned based on performance.

On the first day of your new job,you notice that your wardrobe is not up to company standards.You are at the ________ stage of the consumer buying process.

Packaging serves one primary function: to protect the product during shipping.

Describe the four major influences on consumer behaviour.

What are no-frills products sold under the general category name rather than a specific company name called?

Market segmentation and product differentiation are almost identical concepts,except that market segmentation puts more emphasis on "price" while product differentiation puts more emphasis on "promotion."