PlanningProductPricePromotion Place & Planning Potpourri
Answer: This is an example of geographical segmentation. I’ll accept religious segmentation too. ? Marketers segment the market according to a variety of characteristics. Aiming tv shows at people who live in the Buckle of the Bible Belt is an example of _____ segmentation.
? This is an example of a(n) _____ _____ _____ which businesses use to see where to target their products in relation to other companies’ products. Answer: This is a market position or market perception map. Expensive Inexpensive SlowQuick Bacon and Eggs Pancakes Hot Cereal Cold Cereal
? Marketing the same product to everyone is known as _____ marketing. Answer: This is mass marketing or undifferentiated marketing.
? Aiming products at a certain group is called _____ marketing. Answer: This is niche marketing.
? Sometimes companies use market positioning strategies to distinguish themselves from the competition. If a company promotes its products as “American made” this would be an example of positioning by _____. Answer: This is positioning by origin.
Answer: There are 6. They are development, introduction, growth, maturity, saturation, and decline. ? How many stages are there in the product life cycle?
Answer: This is known as a dog. ? In the Boston Matrix, a product that is declining in sales and that may need to be discontinued is known as a(n) _____.
Answer: This is family branding. ? SC Johnson sells home cleaning products, insect repellent, storage products, and personal care shaving cream. This is an example of _____ branding.
Answer: The development stage. ? Many products never make it past the ___ stage of the product life cycle.
Answer: This is capacity utilization. ? The maximum a business can produce given its existing resources is called _____ _____.
? Setting a high price for a product until competitors enter the market and then lowering the price is known as _____ _____. Answer: This is market skimming.
? Getting rid of the competition by cutting prices is known as _____ pricing. Answer: This is called destroyer or predatory pricing.
? Offering the same product to different markets at different prices is an example of price _____. Answer: This is price discrimination or differentiated marketing.
? When a price is set for a product using the direct costs of producing it plus the indirect costs for that particular product, this is known as _____ _____ pricing. Answer: This is absorption cost or full-cost pricing.
? A “white” sale is an example of _____ pricing. Answer: This is promotional pricing.
? Advertising that appeals to the emotions is known as _____ advertising. Answer: This is persuasive advertising.
? This is known as buying items you don’t need just to “keep up with the Joneses.” _____ _____ Answer: This is conspicuous consumption.
? Which of the following is not an example of below-the-line promotion? a. Direct mail b. The Internet c. Exhibition or trade shows d. Sales promotions such as BOGOs Answer: The answer is b. The Internet
? General Mills sells Cheerios cereal, Green Giant vegetables, Betty Crocker cake mix, etc. This is called _____ advertising. Answer: This is called corporate advertising.
? This type of middleman buys products from a manufacturer and sells to a retailer. Answer: This is a wholesaler.
? Buying fruits and vegetables from a roadside stand is an example of a(n) ____ channel of distribution. Answer: This is a direct channel of distribution.
? The Friday after Thanksgiving is known as _____ Friday due to the increase in sales in brick and mortar stores. Answer: This is Black Friday.
? Preparing a survey or questionnaire for a business is an example of this type of research. Answer: This is primary or field research.
? Research that describes attitudes, beliefs, intentions, etc. is known as _____ research. Answer: This is qualitative research.
? When this sampling method is used, the data collection must stop after a preset number has been reached. Answer: This is quota sampling.
? Which of the following is a potential problem involved with international marketing? a. Cultural differences b. Political differences c. Legislative differences d. Social factors e. All of the above f. None of the above Answer: e. All of the above.
? E-commerce can be conducted using two methods. One method is B2B. What does this stand for? Answer: B2B stands for Business to Business.
Answer: This is market size. ? Sales of all companies within a market such as all hybrid cars is known as market _____.
Answer: This would be an example of c. a technological growth factor—consumers have since bought cassettes, cds, ipods, etc. ? Decreased sales for 8-track tapes would be an example of which of the following market growth factors? (Choose the best answer!) a. legislative b. demographic c. technological
? When a business focuses on what consumers want and need, this is called _____ orientation. Answer: This is called market orientation, not product orientation.
? Where is the most expensive product placement on a grocery store’s shelves? a. At or slightly above eye level b. On the bottom shelf c. On the top shelf Answer: a. At or slightly above eye level.