Exam 2 MKT 220 Basic Marketing Concepts 2023 Business & Finance

2023 Course MKT220 750 Fa14 BASIC MARKETING CONCEPTS Test Test 2 Fall 2014 Question 1

Test Test 2, Fall 2014
• Question 1                     2 out of 2 points
 As Justin works on the prototype of a new action-oriented computer game, he is engaging in which phase of the new-product development process?   
• Question 2                 2 out of 2 points
 Kara 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.   
• Question 3                 2 out of 2 points
 The 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 through   

• Question 4                 2 out of 2 points
 Product deletion   

• Question 5                 2 out of 2 points
 If 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 of   
• Question 6                 2 out of 2 points
 A genuinely new product?like the iPhone once was?offers   
• Question 7                 2 out of 2 points
 Ideally, test marketing should follow which stage in the new-product development process?   
• Question 8                 2 out of 2 points
 Three major ways in which marketers engage in product differentiation are   
• Question 9                 2 out of 2 points
 A runout policy of product deletion   
• Question 10                 2 out of 2 points
 To differentiate their products, companies sometimes emphasize the product support services that they offer. This is especially true when   
• Question 11                 2 out of 2 points
 Marketers 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 called   
• Question 12                 2 out of 2 points
 One disadvantage of test marketing a new product is that   
• Question 13                 2 out of 2 points
 Early in the commercialization phase, marketers must make decisions about   
• Question 14                 2 out of 2 points
 Dropping an unprofitable product immediately is the best strategy when   
• Question 15                 2 out of 2 points
 The three major ways to modify a product include   
• Question 16                 2 out of 2 points
 All of the following are major steps in developing new products except   
• Question 17                 2 out of 2 points
 Mercedes 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 cycle.   
• Question 18                 2 out of 2 points
 When 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.   

• Question 19                 2 out of 2 points
 Facilities, factories, and production lines with very large equipment are all classified as   

• Question 20                 2 out of 2 points
 A product line is defined as   

• Question 21                 2 out of 2 points
 During the introduction stage of a successful product, profits are usually   

• Question 22                 2 out of 2 points
 To make intangible products more tangible or real to the consumer, marketers often   

• Question 23                 2 out of 2 points
 Minerals, chemicals, timber, and agricultural products are considered   

• Question 24                 2 out of 2 points
 Dannon Yogurt represents what type of product for most consumers?   

• Question 25                 2 out of 2 points
 When are marketers least likely to change a product’s design, style, or other attributes?   
• Question 26                 2 out of 2 points
 Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.   

• Question 27                 2 out of 2 points
 When 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 as   

• Question 28                 2 out of 2 points
 When 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.   

• Question 29                 2 out of 2 points
 Which of the following is the most typical example of a new product introduction?   

• Question 30                 2 out of 2 points
 Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.   


• Question 31                 2 out of 2 points
 An 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?   

• Question 32                 2 out of 2 points
 Gap clothing stores sell primarily what type of products?   

• Question 33                 2 out of 2 points
 Although they become part of a larger product, ____ can often be easily identified and distinguished on the larger product.   

• Question 34                 2 out of 2 points
 Brian 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?   

• Question 35                 2 out of 2 points
 Dell 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 is   

• Question 36                 2 out of 2 points
 Demographic 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 ____ segmentation.   

• Question 37                 0 out of 2 points
 Crest 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.   
• Question 38                 2 out of 2 points
 Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets.   
• Question 39                 2 out of 2 points
 When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.   
• Question 40                 2 out of 2 points
 Systems such as PRIZM and Acorn provide companies with lifestyle and demographic information about neighborhoods throughout the United States. This information is used to aid   

• Question 41                 2 out of 2 points
 Bethlehem 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 is   

• Question 42                 2 out of 2 points
 After a firm has identified an appropriate targeting strategy, the next step in the target market selection process is   
• Question 43                 2 out of 2 points
 Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ____ markets.   

• Question 44                 2 out of 2 points
 The maximum percentage of market potential that an individual firm can expect to obtain for a specific product is the   

• Question 45                 2 out of 2 points
 Volkswagen markets its Routan to large families, its R32 racecar to men, and its Jetta to young singles. What targeting approach is Volkswagen using?   
• Question 46                 2 out of 2 points
 Which of the following products is most likely to have its market segment based on age?   
• Question 47                 2 out of 2 points
 Which of the following products is least likely to be segmented according to stages in the family life cycle?   
• Question 48                 2 out of 2 points
 Katy 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?   
• Question 49                 2 out of 2 points
 In order to be considered a market, people do not have to have   
• Question 50                 2 out of 2 points
 Many 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?   


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