For someone buying a Volvo, the essential product is __________, and the modifier is __________.
a car, safety
Marketer 1 is marketing soft pretzels. Marketer 2 is marketing for a local amusement park. Why might their strategies differ?
Marketer 1 has a tangible product, white marketer 2 has an intangible product.
What does good variability consists of?
The customization and tailoring of the service delivery for the customer’s unique needs
How can product lines vary?
Breadth and depth
Beta Company makes items you typically see in a golf specialty store. It already makes golf balls. Which of the following would be an expansion in the breadth direction?
Soccer Balls
As Claudio arrives at the airport, he decides that instead of waiting in line to check-in he will use the automated check-in kiosk. He types in the information requested by the kiosk and his boarding pass is printed within seconds. This exemplifies the trend of _____.
self-service
Marketers have long realized the benefits of morphing which type of purchase-transaction exchanges into long-term relationship marketing?
Short-term
Services are said to be more __________ than goods.
variable
Bad variability involves _______.
errors in the system
Which of the following is a question that arises during the marketing exchange?
What is it that customers want?
The most successful example of self-service is ______.
online shopping
Which of the following are dominated by search and experience qualities?
goods
What is the core service of the Cincinnati Reds, a major league baseball team?
The ball game
Which of the following types of attributes are those that require some trial or consumption before evaluation?
Experience
Sanjay, a young professional, buys a new BMW. Sanjay’s new BMW is an example of ______.
a status symbol
How many new brands are issued annually by the U.S. Patent and Trademark Office?
more than 100,000
What is the key brand association?
The extent to which the consumer relates to the brand
Strong brands _______.
deliver greater returns with less risk
Which type of branding is the primary form of co-branding in which one of the companies and its product is the primary host and the other company and its product add value to the host product?
Ingredient
ingredient branding
Which branding approach provides stronger financial outcomes to the company?
umbrella approach
Mac user groups are an example of _____.
a brand community
Which is an example of co-branding?
Brembo brakes are in Aston Martins.
Which of the following is not a physical quality of branding?
cognitive association
A true global brand carries how many brand name(s) and logo(s) anywhere it is offered, and it is available in most markets in the world?
One
Nia is considering whether her toy manufacturing business should develop its own brand. Which is a company reward Nia can expect from branding?
Brands enhance loyalty
In order to best value a brand, how should it be measured?
By using means that best translates into a financial vocabulary
The most stunning demographic trend in America and Western Europe is that the population is becoming _______.
older
What sub population is growing faster than any other in the United States?
Hispanic
The test marketing was successful. Now, Jahzara needs to estimate the sales potential of the new all-natural cleaning product her company developed. Which of the following equations should she use?
$SP = MP × PI × Pr
ABC Co. wants to grow through innovation. It has modified several of its products and developed two new products for its customers. Which strategy is ABC Co. using?
product development
What term refers to the likelihood that the target segment will buy the product?
purchase intention
In which phase of the product life cycle is customer awareness getting stronger and some buzz occurring in the marketplace?
market growth
In order to calculate sales potential, we need to know what three things?
market potential, purchase intention, price
Procter & Gamble determined that its Thermacare Heat Wrap was underperforming and lacked a desired level of growth potential, so it decided to sell the brand. In what phase of the product life cycle was Thermacare Heat Wrap?
Decline
Simone started the meeting at BCD Co. by focusing the attendees on the company’s current status. “We have a good product mix,” she stated. “To continue to grow, we need to target more segments.” Which strategic path is Simone pursuing?
market development
The stage of the product life cycle where sales and profits drop and new products replace older generations is called ______.
decline
In the top-down approach, the idea comes from within the company, and then feedback from the outside is sought later in the process. Because of this, top-down is also called _____.
inside-out
Which growth strategy is the toughest?
Diversification
A product has more competition during which of the following stages than in any other stage in its life cycle?
Maturity