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WKU MKT220 exam 2




Question;QUESTION 1As Justin works on the prototype of a new action-oriented computer game, he is engaging in which phase of the new-product development process?a.Product developmentb.Screeningc.Commercializationd.Idea generatione.Test marketing2 points QUESTION 2Kara is a member of the product development team at a company that manufactures sports equipment. During a recent meeting, one of the team members asked "What level of quality are we building into the camping gear?" Based on this question, Kara and her team are most likely in the ____ phase of new-product development.a.test marketingb.product developmentc.concept analysis2 points QUESTION 3The Home Depot differentiates its product offerings from its competition with stores like Sam's, by offering delivery and installation, financing arrangements, and repairs. The Home Depot is differentiating features.b.product features.c.customer quality.e.product ancillaries.2 points QUESTION 4Product deletiona.involves immediate termination.b.tends to be an easy task for most organizations.c.usually occurs only with convenience items.d.may be opposed by a matter of indifference to customers.2 points QUESTION 5If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example ofa.line extension.b.quality modification.c.a brand extension.d.a new-to-the-world product.e.functional modification.2 points QUESTION 6A genuinely new product?like the iPhone once was?offersa.innovative benefits to consumers.b.better value than existing products.c.lower prices than existing least two new product least two new product features at a lower price.2 points QUESTION 7Ideally, test marketing should follow which stage in the new-product development process?a.Business analysisb.Product developmentc.Commercializationd.Screeninge.Limited production2 points QUESTION 8Three major ways in which marketers engage in product differentiation area.product support services, product design and features, and product positioning.b.product quality, product design and features, and product support services.c.product positioning, product quality, and product management.d.product quality, product support services, and packaging.e.product positioning, product design and features, and product promotion.2 points QUESTION 9A runout policy of product deletiona.raises the price of the product continually to secure as much profit as possible before the product is priced out of the market.b.exploits any strengths left in the product.c.lets the product decline without changing the product strategy.d.occurs when production cannot keep pace with demand because of material an immediate-drop decision.2 points QUESTION 10To differentiate their products, companies sometimes emphasize the product support services that they offer. This is especially true whena.the quality of the company's products is inferior to the quality of competing products.b.the company's prices are higher than the competition's.c.consumers perceive all products in a market to have essentially the same quality, design, and features.d.the company introduces a new product.e.consumers are willing to pay for product support services.2 points QUESTION 11Marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. They will do so by letting the product decline and not change the current marketing strategy. This method of deletion is calleda.phase analysis.d.immediate drop.e.screening.2 points QUESTION 12One disadvantage of test marketing a new product is might fail before it can be commercialized.b.price, advertising, and packaging cannot be varied from market to market.c.the product is distributed on a regional basis.d.competitors may copy the product.e.the results give little indication of the product's future success.2 points QUESTION 13Early in the commercialization phase, marketers must make decisions abouta.which ideas to further pursue.b.the proposed marketing mix variables.c.product features and breakeven points.d.warranties, repairs, and replacement parts.e.functionality, safety, and convenience.2 points QUESTION 14Dropping an unprofitable product immediately is thebeststrategy whena.customers have a negative outlook on other products.b.all advertising and promotional efforts have been exhausted.c.losses are too great to prolong the product's life.d.there is low compatibility with the firm's business strategies.e.the product's performance cannot be improved.2 points QUESTION 15The three major ways to modify a product includea.aesthetic, quality, and functional changes.b.color, size, and quantity modifications.c.styling, product features, and product design.d.extensions, generations, and upgrades.e.quality, quantity, and design.2 points QUESTION 16All of the following are major steps in developing new productsexcepta.screening.b.test marketing.c.evaluation of competitors' analysis.e.idea generation.2 points QUESTION 17Mercedes recognized it needed to revitalize its brand and attract different market segments. These are indications that Mercedes? products were primarily in the ____ stage of the product life testingb.declinec.growthd.maturitye.introduction2 points QUESTION 18When Clorox introduced bleach in a no-drip bottle, the firm was taking action consistent with its product being in the ____ stage of the product life cycle.a.declineb.growthc.stabilizationd.maturitye.introduction2 points QUESTION 19Facilities, factories, and production lines with very large equipment are all classified asa.component parts.b.installations.c.accessory equipment.d.MRO facilities.e.permanents.2 points QUESTION 20A product line is defined asa.products that are sold by the same firm or a division of a firm.b.products that can be designated as a unique offering among the organization's products.c.a group of closely related products that are considered a unit because of marketing, technical, or end-use considerations.d.products that an organization makes available to consumers.e.a specific group of products that are offered to the market.2 points QUESTION 21During the introduction stage of a successful product, profits are their highest point.b.positive and increasing.c.negative and decreasing.d.negative and increasing.e.declining.2 points QUESTION 22To make intangible products more tangible or real to the consumer, marketers oftena.use multiple channels of distribution.b.use low prices on intangible goods.c.use symbols or cues to help symbolize product benefits.d.use external reference prices.e.offer more support services with such products.2 points QUESTION 23Minerals, chemicals, timber, and agricultural products are considereda.component parts.b.process materials.c.MRO supplies.d.raw materials.e.accessory materials.2 points QUESTION 24Dannon Yogurt represents what type of product for most consumers?a.Specialtyb.Businessc.Convenienced.Shoppinge.Durable2 points QUESTION 25When are marketers least likely to change a product's design, style, or other attributes?a.Introductionb.Maturityc.Growthd.Removale.Decline2 points QUESTION 26Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life testingd.maturitye.growth2 points QUESTION 27When Sony realized its CD players were in the decline stage, it decided to immediately withdraw all of its marketing support from these declining products, an approach known asa.reinvesting.b.harvesting.c.squashing.d.divesting.e.realigning.2 points QUESTION 28When Minute Maid mailed out free samples of its new instant drink mix, it was trying to move prospective customers into the ____ stage of the product adoption process.a.evaluationb.trialc.interestd.adoptione.awareness2 points QUESTION 29Which of the following is themost typicalexample of a new product introduction?a.Pringles sold in snack-sized containersb.A car that uses no oil or gasolinec.A device that cools your car while parked outsided.A brand-new nut discovered in Africae.Shoes that literally make you run faster2 points QUESTION 30Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.a.specialtyb.shoppingc.serviced.conveniencee.unsought2 points QUESTION 31An individual knows that a product exists, but has little information regarding the product and does not seek additional information. In what stage of the product adoption process is that person?a.Trialb.Adoptionc.Awarenessd.Intereste.Evaluation2 points QUESTION 32Gap clothing stores sell primarily what type of products?a.Nondurableb.Unsoughtc.Specialtyd.Shoppinge.Convenience2 points QUESTION 33Although they become part of a larger product, ____ can often be easily identified and distinguished on the larger product.a.process materialsb.accessory partsc.component partsd.raw materialse.MRO supplies2 points QUESTION 34Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Brian likely used which sales forecasting technique?a.Regression analysisb.Market testsc.the Delphi techniqued.Executive judgmente.Time series analysis2 points QUESTION 35Dell segments its business markets into small business, corporate, government agencies, K-12 schools, and higher education institutions. The primary segmentation variable used in this example isa.secondary product use.b.type of organization.c.customer size.d.geographic potential.2 points QUESTION 36Demographic variables such as income and occupation, as well as how people spend their time and the importance of things in their surroundings, are all factors considered in ____ life class2 points QUESTION 37Crest toothpaste is available in several different versions, such as Crest Whitening, Crest Tartar Control, Crest Whitening with mouthwash, and Crest Total Effects. Given these different variations of the product, it appears that the marketers of Crest are segmenting the market by using ____ segmentation.a.product usageb.behavioristicc.advantaged.benefite.end-purpose2 points QUESTION 38Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets.a.concentratedb.homogenousc.heterogeneousd.undifferentiatede.differentiated2 points QUESTION 39When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.a.concentrated or differentiated points QUESTION 40Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aida.behavioristic segmentation.b.demographic segmentation.c.geographic segmentation.d.geodemographic density analysis.2 points QUESTION 41Bethlehem Steel provides steel for a variety of uses to its various customers. Customers have different needs for the steel and thus Bethlehem has to prepare the raw steel differently depending on how customers will use it in their production processes. The primary business segmentation variable in this example isa.organization classification.b.customer importance.c.geographic location.d.product use.e.customer size.2 points QUESTION 42After a firm has identified an appropriate targeting strategy, the next step in the target market selection process isa.evaluating relevant market segments.b.determining the demographic variables of the target market.c.determining which segmentation variables to use.d.developing market segment profiles.e.selecting specific target markets.2 points QUESTION 43Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ____ markets.a.governmentb.businessc.most targetd.consumere.international2 points QUESTION 44The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is potential.b.sales share sales sales objective.2 points QUESTION 45Volkswagen markets its Routan to large families, its R32 racecar to men, and its Jetta to young singles. What targeting approach is Volkswagen using?a.Concentratedb.Undifferentiatedc.Multisegmentedd.Differentiatede.Strategic2 points QUESTION 46Which of the following products ismost likelyto have its market segment based on age?a.Bic pensb.Lipton Iced Teac.Nike shoesd.Carpete.Legos2 points QUESTION 47Which of the following products isleast likelyto be segmented according to stages in the family life cycle?a.European vacationsb.General Electric appliancesc.Cars and SUVsd.Soft drinkse.Single-family homes2 points QUESTION 48Katy Ramirez is a marketer for a company that produces in-ground swimming pools. When forecasting company sales, she finds a direct association between past sales and per capita income. Which sales forecasting technique is Katy using?a.Regression analysisb.Time series analysisc.Executive judgmentd.Market testse.The Delphi technique2 points QUESTION 49In order to be considered a market, people donothave to havea.discretionary income to purchase the product.b.the authority to buy the specific products.c.the ability to purchase the product.d.the willingness to use their buying power.e.a need or desire for a particular product.2 points QUESTION 50Many marketers are concerned about the number of potential customers within a certain area of land because of the different requirements to serve dissimilar areas. What is this segmentation variable called?a.Micromarketingb.PMSAc.MSAd.Market densitye.Populati


Paper#46764 | Written in 18-Jul-2015

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