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MKT 200 Unit 4 Quiz 2 Latest-POST
MKT 200 Unit 4 Quiz 2 Latest-POST
In a customer-driven marketing strategy, you select specific groups of customers whose needs your
service can satisfy. What strategy are you using?
Your firm has decided to customize its goods and services to meet local market demands. What
segmentation strategy is a good approach to use?
final consumer end-use
education and occupation
Customers show their allegiance to brands, stores or companies. Marketers can use this information to
segment customers by:
Business markets use some of the segmentation criteria used for consumer markets. Of the options
below, which are primarily used in a B2B (business to business) situation and not in a B2C (business to
operating characteristics and purchasing approaches
nations, countries and neighborhoods
age, gender, and income
When the size, purchasing power and profiles of a market segment can be determined, it possesses the
requirement of being:
Your company decides to sell a product to a large share of a smaller, concentrated group of business
customers. The strategy you are using is called:
A company with a food product line directed at children decides to cut the calories, additives and salt from
its product offerings. It is practicing socially responsible target marketing.
Not all brand differences are meaningful or worthwhile, as each has the potential to create costs to the
firm as well as benefits to the consumer. If the difference cannot easily be copied by competitors, it is said
A form of product that consists of activities, benefits or satisfactions offered for sale that are essentially
intangible and do not result in the ownership of anything is called a:
A name, term, symbol, or design (or a combination of these) that helps distinguish a product from
competitive offerings is called a:
A group of products that are closely related because they function in a similar manner, are sold to the
same customer groups, are marketed through the same type of outlets, or fall within given price ranges is
All of the goods and services that a particular seller offers for sale are called a:
Which of the following is most likely to be seen as the major enduring asset of a company, outlasting the
company’s specific products and facilities?
physical goods inventory
brand and reputation
New product development starts with:
Your company decides to use internal sources for developing new product ideas. Which of the following
would NOT be consulted?
executives and professionals
company records and data
Which one of the following is the most important external source of new product ideas?
trade magazines, shows, and seminars
distributors and suppliers
A product has a very short life cycle, popular with a narrow audience that causes a quick spike in
consumer demand, followed by a quick drop off in popularity. This describes a:
In a standard Product Life Cycle, it is likely that profits are nonexistent or negative (a loss) during the
During this stage of the Product Life Cycle, sales start to accelerate significantly, as new customers are
attracted to the product offering. Unfortunately, competitors are also attracted and counter-measures may
be needed. This stage is called:
Companies need to pay attention to their aging products. Management should regularly review sales,
market share, costs, and profit trends to decide whether to maintain, harvest or drop these declining