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Coca-Cola launched Coke Zero to avoid cannibalizing current sales and to attract new customers in a segment they might not get with Diet Coke. |
t |
|
For products like pencils and paper clips, marketers should probably use an undifferentiated targeting strategy. |
t |
|
It would be logical for bathing suit marketers to use geographic segmentation. |
t |
|
The Value and Lifestyle Survey (VALS) conducted by Strategic Business Insights (SBI) is a widely used tool for geographic segmentation. |
f |
|
Positioning strategies generally focus either on how the product benefits the consumer or on how it is better than competitors’ products. |
t |
|
A self-values map displays the position of products or brands in the consumer’s mind. |
f |
|
Perceptual maps include positions of current brands as well as ideal points where a consumer segment would want a product to be. |
t |
|
The STP process is made up of strategy, targeting, and promotion. |
f |
|
The first step in the STP process is to establish an overall strategy. |
t |
|
Automobile manufacturers could build cars specially designed for very tall people (for example, over seven feet), but it is likely that this segment is not substantial. |
t |
|
A complex product that is best described in writing will be difficult to explain to consumers who are unable to read. For this reason, a segment in which many consumers could not read would be considered unattractive because the consumers would not be responsive. |
f |
|
A company that sells only multigrain, low calorie bread should use an undifferentiated targeting strategy. |
f |
|
A value proposition compares the price of a product to its benefits. |
f |
|
s |
s |
|
For each target market, General Imaging Corporation, a manufacturer of imaging equipment, will engage in positioning, adjusting their marketing mix variables in order to give customers better Medicaid and Medicare payments. a perceptual map of the imaging landscape. more product features than the competition offers. lower prices than the competition offers. a clear, distinctive, and desirable understanding of their products relative to competing products. |
e |
|
Greta is concerned that one of the potential market segments she has identified for her dog grooming service is too small and has too little income to have sufficient buying power. Greta is concerned with whether the segment is substantial. responsive. profitable. reachable. identifiable. |
a |
|
Geodemographic segmentation can be particularly useful for __________, because customers typically patronize stores close to their neighborhood. Internet marketers wholesalers retailers consumer goods manufacturers cable TV networks |
c |
|
Kim’s Kayak Tours initially identified active retirees living in the retirement community nearby as one of its target markets. Kim then tailored her service and marketing message to the interests and schedules of that audience. Kim initially used __________ segmentation and then used __________ segmentation. micromarketing; loyalty lifestyle; macromarketing geodemographic; lifestyle geographic; loyalty behavioral; geodemographic |
c |
|
PRIZM and Tapestry by ESRI divide and sort small geographic areas into categories using 60 or more demographic and lifestyle characteristics. These market research tools are examples of __________ segmentation. geodemographic benefit psychographic loyalty geographic |
a |
|
Adidas Group owns Reebok, Rockport, and Greg Norman brands. Adidas uses the different brands to pursue a(n) __________ strategy. concentrated targeting micromarketing benefit targeting differentiated targeting undifferentiated targeting |
d |
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NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of race fans were female. This is an example of __________ segmentation. geographic psychographic demographic benefits behavioral |
c |
|
s |
s |
|
s |
s |
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Beverage companies often use television commercials with images of young people laughing and enjoying themselves on a beach or in a club. These images are designed to appeal to consumers’ __________, suggesting "be like me." geographic choices self-concepts loyalty references benefit perceptions demographics |
b |
|
Talbots, an upscale women’s clothing store, targets college-educated women between 35 and 55 years old with average household income of $75,000 or more. This is a form of __________ segmentation. benefit geodemographic psychographic demographic geographic |
d |
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Segmentation, targeting, and positioning are terms that can be used interchangeably in developing marketing plans. are part of a firm’s marketing strategy. should be done simultaneously so synergies can help streamline the effort. are part of the marketing plan but bear little direct relationship to the marketing mix. all of these |
b |
|
In order to develop psychographic segments, the marketer must understand consumers’ age, income, and education. gender, race, and religion. disposable personal income, benefit perceptions, and alternative egos. self-values, self-concept, and lifestyles. buying patterns and behaviors. |
d |
|
s |
s |
|
Education marketers have learned that the primary motivations of most nontraditional college students are self-respect and self-fulfillment. Understanding the values of this market segment allows marketers to emphasize the benefits these consumers are looking for in a college education. lower the price for this market segment. offer alternative courses based on geographic location. employ loyalty marketing strategies. utilize micromarketing strategies. |
a |
|
College students can be a less __________ market segment because students’ media habits are quite diverse. substantial perceptive identifiable reachable quantifiable |
d |
|
Alex has found that both commercial and residential real estate buyers respond positively to his marketing communication message. Alex has identified __________ that respond similarly to his marketing efforts. mass customization consumers geographic segments market segments self-concept customers geodemographic segments |
c |
|
Karen has identified four potential market segments for her Rent-A-Chef home meal catering service. She will now evaluate whether or not each segment is all of the following EXCEPT substantial. responsive. profitable. reachable. realistic. |
e |
|
Golden Years Vitamin Corporation targets consumers living in Florida who are over 65. Golden Years is using __________ segmentation. benefit self-actualization psychographic loyalty geodemographic |
e |
|
s |
s |
|
s |
s |
|
s |
s |
|
s |
s |
|
s |
s |
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When Mr. How, a Pennsylvania-based discount lumber and hardware chain, sent snow blowers to its Augusta, Georgia, store in April, it was engaged in concentrated segmentation. geodemographic segmentation. benefit segmentation. psychographic segmentation. misguided geographic segmentation. |
e |
|
The perceptions of __________ are being measured in a perceptual map. competitors strategic planners the company’s executive team the current R&D team consumers |
e |
|
Ryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating with people in a war zone, Ryan may have trouble with this segment not being substantial. perceptive. identifiable. reachable. quantifiable. |
d |
|
Regina wants to position her financial services company. Regina can position her services according to all of the following EXCEPT the value proposition. product attributes. symbols. competitive comparisons. profitability. |
e |
|
Alexis has selected target markets for her fashion accessories store in a suburban strip mall. She is now deciding how to position the accessories. She could consider positioning based on the value proposition. product attributes. symbols. competitive comparisons. all of these |
e |
|
Sally is in the new marketing department of a midsized lawn and garden company. She is working on the first marketing plan the firm has ever used. She has defined the mission and objectives, and she just finished a situation analysis for the firm. The next step is to develop an advertising plan to promote the upcoming sales. find marketing interns or hire new staff to help with implementation. create pro forma financial statements to complete the package. identify and evaluate opportunities by conducting segmentation, targeting and positioning analysis. use the Internet, catalogs, and vendor information to draw up a list of new products. |
d |
|
s |
s |
|
Retail store chains often use __________ data to identify other locations with similar demographics and purchasing behavior where it might make sense to open additional stores. geodemographic benefit psychographic loyalty geographic |
a |
|
Fiona wants to sell a local advertising calendar. There are 1,000 households in her community, and she estimates that 30 percent will buy a calendar. The printing company will charge a $100 setup fee, and calendars will cost $4.00 each to print. What price will she need to charge to cover all costs and make a $500 profit? $6.00 $7.00 $8.00 $9.00 $10.00 |
a |
|
Which of the following would NOT be used in calculating the profitability of a segment? segment perceptions segment size segment adoption percentage profit margin percentage fixed costs |
a |
|
When evaluating the attractiveness of the segment, if a segment is expected to react positively to the firm’s offering, we say that the segment is responsive. identifiable. reachable. substantial. reactive. |
a |
|
Caroline is assessing market growth, market competitiveness, and market access for each segment she has identified. Caroline is assessing __________ of each potential market segment. substance responsiveness identification reach profitability |
e |
|
When Talbots, an upscale women’s clothing store, tries to portray an image of "traditional, conservative, and with good taste," they are appealing to their target market’s lifestyle. geodemographics. demographics. loyalty. PRIZM segment. |
a |
|
Marketers often create a special marketing mix for loyalty segments because these segments are too large to service with ordinary targeting. difficult to identify. costly to acquire. usually quite profitable. all of these |
d |
|
s |
s |
|
s |
s |
|
"Why create a perceptual map?" asked David. Andreas, the senior marketing manager, gave him four reasons. Which of the following is NOT a valid reason? "It’s a quick way for senior managers to see not only our product but each of our competitors, all at once." "It’s a way to demonstrate the dimensions that our customers think are important." "It shows where we aren’t—and where our competitors aren’t—in our customers’ and prospects’ minds." "It’s a way to show the position of the company in ten years." "We can easily show where we are positioned and how large the market is." |
d |
|
When Starbucks first opened, many critics suggested, "No one will pay $4.00 for a cup of coffee." Starbucks’ critics suggested consumers would not be __________ to the company’s offerings. responsive perceptive identifiable reachable quantifiable |
a |
|
s |
s |
|
Marketers often employ a combination of segmentation methods, using __________ to identify and target their customers, and __________ to design products and messages to appeal to them. loyalty segmentation; demographics undifferentiated targeting; differentiated targeting loyalty segmentation; geodemographics geodemographic segmentation; lifestyle or benefit segmentation lifestyle segmentation; geographic segmentation |
d |
|
When a firm evaluates its overall mission, including its strengths, weaknesses, opportunities, and threats, it is engaged in which step of the segmentation targeting and positioning process? Establishing overall strategy or objectives Determining segmentation methods Evaluating segment attractiveness Selecting the target market Developing the positioning strategy |
a |
|
_____ segmentation, the most common means to define segments, involves defining groups based on characteristics such as age, gender, income, and education. Geographic Demographic Psychographic Geodemographic Lifestyle |
b |
|
Behavioral segmentation based on when a product or service is purchased or consumed is called _____ segmentation. occasion lifestyle demographic psychographic location |
a |
|
Jack describes himself as having a strong need to belong to a group, which motivates him to seek out activities that involve others. Marketers would use this type of information when developing _____ segments. niche geographic demographic psychographic geodemographic |
d |
|
During which step of the STP process do marketers ask whether the segment is identifiable, substantial, reachable, responsive, and profitable? Evaluate segment attractiveness Select segmentation method Develop positioning strategy Select target market Establish overall strategy or objectives |
a |
|
In order for segmentation strategy be successful, the customers in the segment must react similarly and positively to firm’s offering, corresponding to which of the following criteria for evaluating segment attractiveness? Substantial Reachable Responsive Profitable Identifiable |
c |
|
In order for the ______ criteria to be met when evaluating segment attractiveness, the consumer must know the product or service exists, understand what it can do for him or her, and recognize how to buy it. substantial identifiable reachable responsive profitable |
c |
|
Market growth, market competitiveness, and market access are all important factors in analyzing which criteria of segment attractiveness? Substantial Identifiable Reachable Responsive Profitable |
e |
|
When everyone might be considered a potential user of its product, a firm likely uses a(n) _____ targeting strategy. one-to-one differentiated concentrated undifferentiated micromarketing |
d |
|
A manufacturer of t-shirts concentrates all its efforts on cost containment by offering the product in only one size but in a variety of colors, using a one-size-fits-all approach. This involves a _____ targeting strategy. one-to-one mass marketing concentrated differentiated micromarketing |
b |
|
General Motors targets several different market segments and designs separate automobile makes and models for each. This is an example of undifferentiated marketing. mass marketing. concentrated marketing. differentiated marketing. micromarketing. |
d |
|
Large firms with multiple offerings in a particular product category engage in _____ targeting strategies to obtain a bigger share of the market, increase the overall market for the product categories they sell, and to diversify their businesses. mass marketing micromarketing concentrated differentiated undifferentiated |
d |
|
When an organization selects a single, primary target market and focuses all its energies on providing a product to fit that markets needs it is using a(n) _____ targeting strategy. undifferentiated mass marketing concentrated differentiated micromarketing |
c |
|
Mr. Dennison knows each and every child who comes in to his Kumon reading center, and prides himself on knowing how he can personally address each of their reading challenges. What type of market coverage strategy is Mr. Dennison employing in his business? Mass marketing Segment marketing Niche marketing Micromarketing Concentrated marketing |
d |
|
Land’s End allows customers buying shirts to choose from a variety of fabrics, types of collar and sleeve, based on the customer’s specific measurements, capitalizing on new technologies to mass customize its products and services. This is an example of concentrated marketing. segment marketing. niche marketing. micromarketing. mass marketing. |
d |
|
The positioning strategy can help communicate a brand’s _____, representing the unique value provided to customers. benefits segmentation value proposition segmentation method targeting strategy market share |
b |
|
Volvo is known for its superior safety and performance features. They focus their communication efforts to reinforce this perception. This is an example of positioning based on product attributes. positioning based on symbolism. positioning against a specific competitor. positioning using perceptual mapping. positioning based on profit potential. |
a |
|
_____ is a tool used to visually display how consumers perceive the position of products or brands in the market on different dimensions relative to competitors. An ideal point An optimal point A competitive map A perceptual map Competitive positioning |
d |
|
What is the first step marketers use to derive a perceptual map?2013_QC_34887 Identify competitors’ positions Determine consumers’ perceptions and evaluations of the product or service in relation to competitors Monitor the positioning strategy Identify the market’s ideal points and size Determine consumer preferences |
b |
|
What is the first step marketers use to derive a perceptual map? Identify competitors’ positions Determine consumers’ perceptions and evaluations of the product or service in relation to competitors Monitor the positioning strategy Identify the market’s ideal points and size Determine consumer preferences |
b |
|
One of the benefits of marketing research is it reduces the uncertainty under which managers make decisions. |
t |
|
The Marketing Research Process follows five steps, and in order to be effective they must be followed in order without omitting any steps. |
f |
|
Briena is looking at the results of a syndicated study conducted two years ago. Briena is looking at primary data. |
f |
|
A major advantage of primary data collection is that it can be tailored to fit the pertinent research questions. |
t |
|
In the marketing research process, data collection happens after research design. |
t |
|
Quentin is in a group of eight to twelve people and is being asked questions by a trained moderator. Quentin is part of an in-depth interview group. |
f |
|
Donald is analyzing and interpreting data. In the process, he is converting data into information. |
t |
|
Data that have been collected prior to the start of the current research project are considered primary data. |
f |
|
The terms "external secondary data" and "syndicated data" mean the same thing. |
f |
|
When companies store information on customers’ purchase histories in large computer files, this is known as data warehousing. |
t |
|
Panel data are always secondary data. |
f |
|
Fingerprints are an example of biometric data. |
t |
|
When survey data are analyzed in depth to determine consumer attitudes toward a product, this is an example of sentiment mining. |
f |
|
Using __________, researchers ask questions, listen to and record responses, and ask additional questions based on initial responses. questionnaires experiments in-depth interviews primary data mining observation |
c |
|
A marketing research project often begins with a review of the relevant __________ data. primary secondary quantitative unfocused structured |
b |
|
In questionnaire design, a question such as, "When was the first time you went to a dentist?" suffers from the problem of a question that respondents cannot easily or accurately answer. that respondents are reluctant to answer because the information is sensitive. that steers respondents to a particular response. that asks two questions at once. that is complex and something respondents may be unfamiliar with. |
a |
|
When consumers are unable to articulate their experiences, __________ becomes particularly useful in understanding consumers’ preferences. observation surveying in-depth interviewing primary data mining a focus group |
a |
|
s |
s |
|
s |
s |
|
s |
s |
|
In the infamous Coke-New Coke taste test, 54 percent of consumers, using a blind taste test, preferred the New Coke formula to the existing formulation. This is an example of a(n) __________ market research method. qualitative quantitative observational syndicated invalid |
b |
|
s |
s |
|
Just as marketers create value by meeting the needs and wants of consumers, market researchers create value if the research is expensive. all participants like the research design. the research does not cost too much. the results will be used in making management decisions. the research is finished quickly. |
d |
|
s |
s |
|
s |
s |
|
s |
s |
|
Joe is reviewing secondary data his company collected about seasonal variation in consumer spending. The advantages of using these data include that they are new and can be used to project overall demand. they can be quickly accessed at a relatively low cost. they are historical data that can be used to accurately predict future trends. they have been collected for just the purpose Joe is using it for. their high cost can be justified by the results. |
b |
|
s |
s |
|
Retail checkout scanning systems create a tremendous amount of purchasing information usually stored in a company’s website. file cabinets. data warehouse. cash registers. qualitative research department. |
c |
|
When conducting a survey about choosing vacation destinations, Hillary will need to __________ in order to get reluctant respondents to provide honest information. choose only highly verbal consumers assure consumers that their individual responses will be kept confidential use only focus group interviews ask unstructured questions create an efficient data warehouse |
b |
|
Which of the following types of research would be considered quantitative research? Experimental research Observational research Focus group research Social media monitoring In-depth interviews |
a |
|
s |
s |
|
Market research begins with designing the research project. analyzing data. defining objectives and research needs. presenting results. creating the data collection process. |
c |
|
Victor’s custom auctioneering service provides online auction selling assistance. Victor plans to conduct marketing research in order to determine which auction site is best for his customers. His next step is to identify the type of data he needs to have. determine the statistical software he will use. outline the presentation format he will use. collect data. define his privacy policy. |
a |
|
Social media monitoring, in-depth interviews, and focus groups are all __________ research methods. quantitative data warehousing syndicated marketing qualitative structured |
d |
|
When consumers are __________, observation becomes particularly useful in understanding consumers’ preferences. unwilling to participate in research confused by questionnaires unable to articulate their experiences interviewed too frequently highly educated |
c |
|
When the market research problem is not clearly defined, a researcher will likely engage in __________ research. data mining qualitative survey quantitative experimental |
b |
|
s |
s |
|
Ron is opening a new Internet-based marketing business. He finds a wealth of data on a web design company’s site. This site describes the tremendous sales potential for Internet-based marketing companies. Ron should base his projections on the information provided. offer to share his Internet sales experience with the site. be cautious, because the data may be more promotional than trustworthy. contact the company and ask if the data are derived from census information. collect primary data to confirm the web design company’s data. |
c |
|
The major disadvantages of primary data collection are that it can only be accessed through syndicated databases or unstructured data mines. it cannot be tailored to meet specific research needs. it takes more time to collect than secondary data and is more costly. it is too general to meet researcher’s and manager’s needs. all of these are disadvantages of primary research data. |
c |
|
s |
s |
|
The manager of a company selling baby products asks you to conduct research into the question, "Is life expectancy getting longer in Kuwait?" The problem with this research objective is that it is irrelevant to the baby products company. it is already known and available on the U.S. Census website. it will lead to a set of unstructured questions. it is a research question that probably cannot be answered with any level of accuracy. it is a question related to another culture. |
a |
|
s |
s |
|
s |
s |
|
If a marketing researcher has to collect data under severe time constraints, which of the following types of data sources would probably be available soonest? Syndicated data Focus group data Experimental data Panel data Survey data |
a |
|
s |
s |
|
s |
s |
|
Recently, Google hired a team of economists to study consumers’ online search behavior. This type of market research is a form of __________ research. focus group survey in-depth interview primary data mining observational |
e |
|
Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers’ mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers relatively low response rates. the ability to share video with respondents. the ability to ask sensitive questions with anonymity. fast responses at a lower cost. the opportunity to survey both existing and potential customers. |
d |
|
What is a disadvantage of online focus groups, compared to offline focus groups? They are more expensive. They attract a more limited group of participants. They generally take longer to conduct. They usually do not permit insights based on body language. They produce insights that are rarely taken seriously. |
d |
|
In questionnaire design, a question such as, "Marketing is the best part of the business program, isn’t it?" suffers from the problem of a question that respondents cannot easily or accurately answer. that respondents are reluctant to answer because the information is sensitive. that steers respondents to a particular response. that asks two questions at once. that is complex and something respondents may be unfamiliar with. |
c |
|
Once a marketing researcher is ready to move beyond preliminary insights to specific, informed questions, the researcher is ready to conduct quantitative research. data warehousing. syndicated marketing surveys. qualitative research. research design. |
a |
|
__________ confirms insights and provides a basis for taking a course of action. Primary data collection Data mining Qualitative research Quantitative research Statistical sourcing |
d |
|
A(n) __________ is a small group of people brought together for an intensive discussion of a topic. focus group social media site experiment data mining session in-depth interview |
a |
|
s |
s |
|
Which of the following is an unstructured question? "What are the most important characteristics for choosing a brand of shampoo?" "How satisfied were you with your last shampoo purchase: very unsatisfied, unsatisfied, neutral, satisfied, or very satisfied?" "Were you happy with the quality of the shampoo you purchased (Yes/No)?" "On a scale from 1 to 5 (with 1 being very unimportant and 5 being very important), how important is fragrance when choosing a shampoo?" "How many brands of shampoo have you purchased in the past year: 0, 1, 2, 3, 4, 5, or more than 5?" |
a |
|
In questionnaire design, a question such as, "Do you like Wendy’s hamburgers and fries?" suffers from the problem of a question respondents cannot easily or accurately answer. that respondents are reluctant to answer because the information is sensitive. that steers respondents to a particular response. that asks two questions at once. that is complex and something respondents may be unfamiliar with. |
d |
|
s |
s |
|
A set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas is known as a SWOT analysis. the STP process. the marketing mix. market segmentation. marketing research. |
e |
|
Which of the following steps in the marketing research process involves identifying the type of data needed and determining the method necessary to collect it? Action plan and implementation Analyzing the data Collecting the data Defining the objectives and research needs Designing the research |
e |
|
Information that has been collected prior to the start of the research project for another purpose is called _____ data. primary secondary tertiary internal syndicated |
b |
|
One of the primary purposes of the fourth step in the marketing research process, analyzing data and developing insights, is to turn data into metrics. objectives. advertisements. information. action plans. |
d |
|
Although it is often an inexpensive source, _____ are sometimes not adequate to meet the needs of the researcher since they were acquired for some purpose other than the research question at hand. external primary data external secondary data internal secondary data syndicated external data tertiary data |
b |
|
When General Motors purchases information about quality and customer satisfaction research from J.D. Power and Associates, it is acquiring a form of tertiary data. internal primary data. internal secondary data. external primary data. syndicated external data. |
e |
|
One of the most valuable sources firms have at their disposal is a rich cache of customer information and purchase history from their day-to-day operations, which is a type of external primary data. external secondary data. internal secondary data. syndicated external data. tertiary data. |
c |
|
The key difference between scanner and panel research is that scanner research typically focuses on a particular _____, while panel research typically focuses on a particular _____. product; person or household product; service person; household person; product service; product |
a |
|
____ is the use of a variety of statistical analysis tools in marketing research to uncover previously unknown patterns in data or relationships among variables. Experimental research Data mining Marketing research Data collection Data warehousing |
b |
|
Lowe’s, a large home improvement retailer, used research to learn that twenty-five percent of the time when customers bought a garden hose, they also bought a sprinkler. Patterns and relationships like this are discovered through a technique called observation. data scanning. panel questioning. data mining. data warehousing. |
d |
|
Qualitative research includes all of the following EXCEPT observation. in-depth interviews. scanner data. focus groups. projective techniques. |
c |
|
If Fisher Price wanted to conduct research to determine the colors that best attract babies to its toys and engage them in interactive play, it would most likely use _____ research. social media focus group cross sectional quantitative observation |
e |
|
If a firm uses social media sites like Facebook, Twitter, and online blogs to collect consumer comments about companies and their products, it is engaged in a process known as secondary data mining. churning. biometric research. sentiment mining. exploratory research. |
d |
|
Using an unstructured method of inquiry, _____ involve a trained moderator guiding the conversation of a small group of individuals in an intensive discussion about a particular topic. in-depth interviews focus group interviews social media research survey research scanner-based research |
b |
|
Which of the following is the most popular type of quantitative primary collection method? Survey research In-depth interviews Social media research Focus group interviews Scanner-based research |
a |
|
A survey asks respondents to answer the question "What are the most important features you would look for in choosing a new automobile, and why?" What type of question is this? structured question closed-ended question unstructured question multiple-choice question biased question |
c |
|
_____ involves a type of quantitative research that systematically manipulates one or more variables to determine which variables have a causal effect on another variable. Experimental research In-depth interviews Social media research Focus group interviews Survey research |
a |
|
Which of the following is NOT a disadvantage of using secondary research data? The information may not be timely. It is costly and time consuming. The data sources may be biased. The methodologies for collecting the data may not be appropriate. The sources may not be original, and therefore usefulness is an issue. |
b |
|
Marketing researchers should only collect information on consumers for the sole purpose of protecting national security. controlling access to confidential information. producing unbiased, factual information. selling under the guise of conducting marketing research. collecting research by convincing respondents it is part of a fundraising effort. |
c |
|
Which of the following agencies serves as a watchdog over the data mining of consumer information? Electronic Privacy Information Center American Marketing Association Federal Trade Commission The U.S. Congress Federal Communications Commission |
a |
|
Physical traits such as facial characteristics, iris scans, or fingerprints are referred to as _____ data and this information is routinely collected by websites such as Facebook. demographic social networking psychographic biometric panel |
d |
|
What new technique claims the ability to read consumers’ minds, using wireless electroencephalogram scanners that measure the involuntary brainwaves that occur when they view a product, advertisement, or brand images? Biometric marketing Neuromarketing Physiomarketing Brainwave mapping Medical marketing |
b |
|
A product is anything that is of value to a consumer and can be offered through a voluntary exchange. |
t |
|
Effective packaging and labels send the signal: "Buy me." |
t |
|
A company’s product line consists of its various product mixes. |
f |
|
Brands enable customers to quickly differentiate one firm or product from another. |
t |
|
Brand equity is calculated by subtracting sales of generic brands from the sales of branded items in a category. |
f |
|
The more familiar customers are with a brand, the harder their decision-making process will be. |
f |
|
Harold is a loyal Coca-Cola customer. Loyal customers like Harold are typically less price sensitive than other consumers, benefiting businesses like Coca-Cola. |
t |
|
Private-label brands are imitations often sold by street vendors. |
f |
|
For a company like Pepsi-Cola, brand dilution occurs when they dilute their product. |
f |
|
In entertainment licensing, the major risk to licensees is that the brand will become overexposed. |
f |
|
A product label is just a required sticker on a package. |
f |
|
When purchasing a mobile phone, the product you are buying is more than just the phone. |
t |
|
A customized carved cedar wood sign for your house is an example of a convenience product. |
f |
|
For the average college student, a retirement account would be a shopping product. |
f |
|
Kellogg’s sells many different breakfast cereals, including Corn Flakes, Rice Krispies, Frosted Flakes, Raisin Bran, and Special K. This is an example of the breadth of the Kellogg’s product mix. |
f |
|
s |
s |
|
Sales of private-label brands continue to decline in the U.S., particularly in big-box stores such as Costco. |
f |
|
When Jaclyn selects a case of Sprite at the grocery store for her party, she is attracted by the holiday-themed box featuring green and white bells. What Jaclyn is seeing is referred to as the secondary package. |
t |
|
s |
s |
|
Brand dilution occurs when customers see the "fit" between products sharing the same brand name. there are too few products and product categories. new brands compete with existing brands. customer perceptions about the core brand are adversely affected. brand names seem too old-fashioned or familiar. |
d |
|
Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support and after-sale service? augmented product core customer value actual product modified product core product |
a |
|
Brands that are owned by ___________ are called private-label brands. manufacturers wholesalers supply chain specialists retailers manufacturer’s reps |
d |
|
A product is __________ that can be offered through a voluntary marketing exchange. the combination of a firm’s marketing mix the brand associations the category depth a tangible item anything of value to consumers |
e |
|
s |
s |
|
s |
s |
|
s |
s |
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Andy likes gourmet popcorn, and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn’t care about brands. For Andy, popcorn is a __________ good while for Joanne it is a __________ good. shopping; specialty convenience; shopping convenience; specialty specialty; convenience unique; universal |
d |
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Firms spend millions of dollars annually to build brand equity, recognizing brand equity contributes to product mix breadth. corporate stakeholder relations. profitability. brand liability. perceived brand personality. |
c |
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Efforts to change a brand’s focus to target new markets or change the image of a brand are called co-branding. brand extraction. brand collusion. brand repositioning. brand dilution. |
d |
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In a competitive market, perceived value is determined by consumers mostly by quantitative analysis of brand personalities. in relationship to the value of competitors’ offerings. by weighing primary versus secondary benefits. through investment in product tracking systems. through brand association and brand licensing. |
b |
|
s |
s |
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Procter & Gamble is a huge national brand manufacturer. By having leading brands like Tide and Crest, P&G can monopolize store brands. has greater opportunity to dictate retail pricing. has greater control over marketing strategy. can increase brand dilution. can eliminate any local competition. |
c |
|
Lionel Smith Ltd. is a traditional men’s clothing store. Every fall the owner sends an embossed invitation (much like a wedding invitation) to his regular customers, inviting them to a private reception showing the new fall line of clothes. For Lionel Smith Ltd., one of the benefits of having established a loyal customer base is recognition through industry awards. lower marketing costs associated with reaching loyal customers. he can be less concerned about competitors’ actions. increased price sensitivity among loyal customers. less need for concern about product quality. |
c |
|
s |
s |
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Which of the following is NOT one of the four criteria used for determining how "good" a brand is? brand awareness brand loyalty brand associations brand conceptualization brand perceived value |
d |
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For a major university, undergraduate studies, graduate studies, and professional programs would be __________ within the university’s product mix. brand associations family brands co-brands product lines private label brands |
d |
|
s |
s |
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Another name for brand repositioning is strategic brand alteration. change management. rebranding. perception tracking. brand scaling. |
c |
|
s |
s |
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What aspect of the product is being described when a used car salesperson explains that each car comes with a one-year extended warranty and a two-year maintenance plan? associated services actual product product style product position product concept |
a |
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One of the major tools used by marketers to meet the needs of loyal customers is SKU. PDQ. IMF. CRM. GATT. |
d |
|
s |
s |
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Jenna always buys Stacy’s brand pita bread chips. She does not even consider alternatives. Jenna is a __________ customer. price sensitive brand persuasion oriented brand association oriented brand extension oriented brand loyal |
e |
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Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers’ search process by offering a free, no questions asked return policy. specialty shopping convenience ritual impulse |
b |
|
s |
s |
|
s |
s |
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Jake developed a toothpaste using only natural ingredients, and he has been quite successful selling the product in health food stores and some grocery stores. He has recently developed a toothbrush using bamboo and natural components. Jake is considering a __________, giving the toothbrush the same brand name as the toothpaste in order to have greater brand awareness. co-brand brand extension premium brand joint brand natural brand |
b |
|
s |
s |
|
s |
s |
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Ella had been using an imported brand of shampoo for several years, but she could no longer find it anywhere. As she was considering what kind of shampoo to try, she was surprised to see ads for Procter & Gamble’s Head and Shoulders, which was being promoted as a glamorous health-oriented product. She had always thought of Head and Shoulders as an anti-dandruff shampoo. The new ads suggest that Head & Shoulders has been rebranded. reformulated. licensed to a premium shampoo manufacturer. extended as a brand. co-branded. |
a |
|
s |
s |
|
s |
s |
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In the case of Band-Aid adhesive bandages, the brand name has successfully employed private label branding. distinctive brand substitutability. grown through private label branding. become synonymous with the product itself. avoided brand extensions. |
d |
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Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular checkups increase the __________ of dental care by reducing the cost to the consumer. perceived value brand awareness brand loyalty generic positioning brand extension |
a |
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Which of the following is NOT part of the "actual product" level of the product offer? product warranty features design quality brand name |
a |
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Parents of young children have been known to drive out of their way so their kids will not see McDonald’s Golden Arches and plead with their parents to stop. For McDonalds, the Golden Arches reduce marketing costs because people (including young children) have memorized the McDonald’s menu. prefer yellow to other colors. know what the Golden Arches brand symbol means. recognize increases in product line depth. are sensitive to brand repositioning. |
c |
|
Which of the following is the best example of a family brand? Cadillac, GMC, and Chevrolet Tostitos Multigrain Scoops and Tostitos Chunky Salsa Kellogg’s Special K and Famous Amos Chocolate Chip Cookies Lifesavers Soda, Coca Cola, and Diet Coke KFC/Taco Bell Fast Foods |
b |
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Marketers spend billions of dollars annually attempting to build effective brands. The basic benefit of a brand is that it creates a basis for effective packaging. provides a way for a firm to differentiate its product offerings from competitors. offers consumers promotional parity. allows manufacturers to ignore promotional expenditures. reduces the need for product line depth. |
b |
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__________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service. Brand positioning Brand licensing Brand association Brand equity Brand solvency |
d |
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Brands are assets that can be legally protected through copyrights and trademarks. financial reporting. brand extensions. generic branding. corporate branding strategies. |
a |
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The complete set of all products offered by a firm is called its product line. product categories. product mix. product breadth. product line depth. |
c |
|
s |
s |
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________ is another term for private-label brands. Store brands Off brands Manufacturer brands National brands Experiential brands |
a |
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When the bicycle manufacturer, Trek determined that some consumers use bikes for green transportation, whereas others use them for a thrilling hobby, they were most likely assessing the _____ of its bicycles to consumers. brand equity associated services brand awareness core customer value physical characteristics |
d |
|
When marketers carefully develop a set of product attributes such as the brand name, features/design, and quality level of an offering, they are developing the actual product. associated product. associated services. augmented product. core customer value. |
a |
|
When Megan purchased several bottles of Pepsi beverages and snacks to bring to her family’s holiday celebration, it represented the purchase of consumer products. specialty services. shopping products. sought products. unsought goods. |
a |
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Brian never spends a lot of time or thought picking up lunch when he is at work. For him, lunch items would be considered to be _____ products. service unsought specialty shopping convenience |
e |
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Insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is _____ that consumers don’t normally think about much. a specialty product a shopping product a convenience product an unsought product an augmented product |
d |
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The complete set of Kellogg’s offerings, representing its _____ includes ready-to-eat cereal, toaster pastries, wholesome portable breakfast snacks, cookies, crackers, and natural and organic brands. product line product mix marketing mix product variability brand extension |
b |
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Kellogg’s has a variety of brands in its cookies and crackers _____, including Cheez-Its, Keebler Townhouse Club crackers, Famous Amos cookies, and Keebler Fudge Shoppe. product line product mix marketing mix augmented products brand extension |
a |
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In response to increased consumer demand for healthful beverages, companies like Coca-Cola and Pepsi introduced new product lines like fruit juice to _____ their product mix. increase the depth of decrease the depth of increase the breadth of decrease the breadth of consolidate |
c |
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Poland Springs produces a variety of bottled water beverages, and as the market continues to show growth potential for new flavors and varieties of bottled water, the company should _____ its product lines. increase the depth of decrease the depth of increase the breadth of decrease the breadth of consolidate |
a |
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Introduced in 1920, Band-Aid now has more than 40 products for first aid, including adhesive bandages and the Liquid Bandage. Band-Aid has, over the years, increased its product line depth. brand dilution. product line breadth. brand extension. co-branding. |
a |
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If a firm deletes an entire product line, it has increased its depth. decreased its depth. increased its breadth. decreased its breadth. diversified. |
d |
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Companies like Tiffany’s go to great lengths to protect themselves through the use of trademarks and copyrights. This best represents which of the following advantages of branding? Brands facilitate purchases. Brands establish loyalty. Brands protect from competition. Brands can reduce marketing costs. Brands are assets. |
e |
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The earning potential of a brand over a 12 month period is known as its price potential. asset base. market value. market share. market equity. |
c |
|
The set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service is referred to as brand equity. market value. brand awareness. perceived value. brand associations. |
a |
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Brand equity is determined by four aspects of a brand. Which of the following is NOT one of the four aspects? Brand awareness Perceived value Brand associations Brand quality Brand loyalty |
d |
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The majority of the brands marketed in the United States are _____ brands. store generic copycat premium manufacturer |
e |
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As the size of retail firms has increased through growth and consolidation, more retailers have developed_____ merchandise,which they use to establish a distinctive identity. generic copycat private-label manufacturer co-branded |
c |
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In a failed attempt at extending its brand to a new product line, Bic introduced a line of disposable underwear. The brand extension adversely affected consumers’ perceptions about its current product lines, this could lead to rebranding. co-branding. product labeling. brand licensing. brand dilution. |
e |
|
_____involves a contractual arrangement between firms, whereby one firm allows another to use its brand name, logo, symbols, and/or characters in exchange for a negotiated fee. Brand equity Brand licensing Brand awareness Co-branding Brand associations |
b |
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The primary federal agency that review food and package labels to ensure that the claims made by the manufacturer are true is the Package Labeling Bureau. Food and Drug Administration. Federal Trade Commission. American Marketing Association. Consumer Protection Agency. |
b |
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New product development adds value to a firm’s products and services through innovation. |
t |
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Although innovation strategies may not work in the long run, overriding short-term reasons compel firms to introduce new products and services. |
f |
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New-to-the-world products that create new markets can add tremendous value to firms. |
t |
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The majority of new products are failures. |
t |
|
Even if products succeed, all consumers do not adopt new-to-the-world products at the same time. |
t |
|
One of the key characteristics of brainstorming sessions is that bad ideas should be immediately rejected so the group can focus its attention on good ideas. |
f |
|
Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs. |
f |
|
When Glenn asked a few of his regular customers to test his prototype surfboard, he was engaging in alpha testing. |
f |
|
To determine if a new product is commercially viable, a firm can conduct premarket testing. |
t |
|
A product will likely remain in the maturity stage of the product life cycle until a superior product comes along to replace it. |
t |
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The maturity phase of the product life cycle is characterized by greatly reduced competition. |
f |
|
The most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product’s life cycle will take. |
t |
|
The diffusion of innovation curve proposes that purchasers can be divided into five groups. The first group consists of buyers who want to be the first on the block to have the new product; they are known as early adopters. |
f |
|
In the diffusion of innovation curve, the late majority is the final group of buyers that like to avoid change and rely on traditional products until they are no longer available. |
f |
|
\The diffusion of innovation curve follows the following sequence: innovators, early majority, early adopters, late majority and laggards. |
f |
|
The fact that the Apple iPad is Easy to try—demo units are available at Apple stores as well as other retail stores—is helping it to diffuse more quickly. |
t |
|
When consumers see their friends using an innovation, it often persuades them to try it too. |
t |
|
As personal computers became popular, the sale of typewriters decreased significantly and now typewriters are only used by a very small segment of consumers. Typewriters are in the maturity stage of the product life cycle. |
f |
|
s |
s |
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When the iPad Mini came out, Sasha spent the night in front of the store so she could get one before any of her friends. According to the diffusion of innovation, Sasha is an innovator. |
t |
|
s |
s |
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At the end of a brainstorming session, participants are often asked to: identify the worst ideas. defer to management for the final decision. identify which ideas each person proposed. vote on the best ideas. propose one more new idea each. |
d |
|
s |
s |
|
Many restaurants offer daily specials, appetizers, entrees, and desserts not listed on their standard menu. These daily specials primarily provide the new product benefit of keeping up in a market where sales come mostly from new products. satisfying the changing needs of current and new customers. avoiding market saturation from products that have been on the market for a long time. creating diversification and reducing risk. reduction in cost of ingredients. |
b |
|
During the _____________ stage of the product life cycle, sales rise, profits rise rapidly, and there are a small but increasing number of competitors. introduction leveling maturity growth decline |
d |
|
Microsoft’s Windows operating system continues to dominate the market, even though it has been around for over twenty years. Windows will likely remain in the maturity stage of the product life cycle indefinitely. until it rules the world. until a superior product comes along to replace it. unless Microsoft repositions Windows as an introductory stage product. as long as the company doesn’t change it. |
c |
|
s |
s |
|
s |
s |
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Early personal computer users remember the cumbersome, user-unfriendly "DOS" system. When Apple introduced System 1 and Microsoft introduced Windows, both of which were much easier to use, these new products diffused rapidly because of their relative advantage. compatibility. observability. complexity. trialability. |
a |
|
When McDonald’s comes up with a new drink or sandwich for its fast food stores, it often markets it in a dozen or so of its outlets. When the company does this, it is engaged in pretesting. product launch. test marketing. product development. concept testing. |
c |
|
s |
s |
|
Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from relative advantage. compatibility. observability. complexity. trialability. |
c |
|
Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products, because they know that their customers crave the "latest and greatest" games. They use this information to create new products that primarily provide the benefit of keeping up in a market where sales come mostly from new products. satisfying the changing needs of former customers. avoiding market penetration from products that have been on the market for a long time. creating diversification and reducing risk. taking advantage of a long product cycle. |
a |
|
s |
s |
|
s |
s |
|
s |
s |
|
When testing new products, most firms consider the question of whether testing products on animals should always be done in the animal’s natural environment. should be done outside of the United States to avoid consumer backlash. should be done when the new product does not contribute to the health and well being of human users. should be done only by companies large enough to be ethically responsible. should be done with animal activists present. |
c |
|
Samples are often used for new products when _________________ will influence the diffusion of the product. |
e |
|
Which of the following was NOT a new-to the-world product or service when it was introduced? Wi-Fi networking The Mercedes mini sport utility vehicle, a smaller version of its larger SUVs Microsoft’s Windows operating system The MP3 player Flat screen TVs |
b |
|
Which of the following is NOT a characteristic of products in the maturity stage of the product life cycle? Laggards are a major focus of marketing efforts. Price competition is intense. Marketing costs increase as firms defend their market share. The market may become saturated because nearly all potential customers have adopted the product. To increase the customer base, firms consider entry into new markets and new market segments. |
a |
|
The growth phase of the product life cycle is always dynamic. Which of the following does NOT occur in this phase? Profits increase as sales increase. Profits increase as economies of scale are attained. Some new competitors may enter the market with similar products. Some competitors will exit in an "industry shakeout." Price competition with protracted price wars erodes profits. |
e |
|
Before Segway manufactured their two-wheeled people movers, they built a prototype and had staff engineers test it for performance and stability. At this stage, Segway was involved in alpha testing. product launch. test marketing. beta testing. concept testing. |
a |
|
Early personal computers cost several thousand dollars, allowing competitors to focus on creating demand for their brand. to promote alternative brands in that product category. to spend less on introductory advertising. to focus on making improved versions. to introduce lower-priced alternatives. |
e |
|
When a manufacturer launches a new product, it may offer _________ to wholesalers and retailers, including introductory price promotions, special events, and personal selling. trade promotions trade shows trade-in allowances trade discounts trade budgets |
a |
|
s |
s |
|
s |
s |
|
Between concept testing and market testing, a firm should engage in which stage of the product development process? securing financial backing marketing research brainstorming determining potential ROI product development |
e |
|
Before the development of computer-assisted design software, many firms handcrafted ______, wooden or clay models that served as rough physical representations of the new product. premarket tests blockbusters prototypes storyboards designer models |
c |
|
s |
s |
|
If the _____________ diffusion of innovation group is relatively small, the number of people who ultimately adopt the innovation likely will also be small. innovator laggard late majority early majority early adopter |
e |
|
s |
s |
|
When microwaves were new, they often cost over $300, were huge, and were had numerous settings and options. Brenda and Bart waited, concerned about potential health hazards and wishing for more choices in the market. By the time they purchased a microwave, sales of microwaves had leveled off and prices had declined significantly. Brenda and Bart were part of the ______________ diffusion of innovation group. innovator laggard late majority early majority early adopter |
c |
|
What type of event exposes retailers to large numbers of new products in a concentrated location? Hosted shows Browser shows Premarket demonstrations Trade shows Trade promotions |
d |
|
s |
s |
|
The _________________ diffusion of innovation group is the last large group of consumers to adopt a new product or service. innovator laggard late majority early majority early adopter |
c |
|
Which of the following adopter categories refers to the last large group of buyers to enter a new product market? Late majority Early majority Laggards Early adopters Innovators |
a |
|
s |
s |
|
During the _____________ stage of the product life cycle, sales are low and profits are small or negative. introduction leveling maturity growth decline |
a |
|
s |
s |
|
s |
s |
|
The Eiger Labs MPMan was the first mass-produced MP3 player sold in the United States. Eiger Labs was a(n) _______ in the MP3 player market. blockbuster early adopter pioneer market tester concept tester |
c |
|
Which of the following is NOT one of the benefits to a firm of new product development? Reduced costs of production. Satisfying the changing needs of current and new customers. Avoiding market saturation from products that have been on the market for a long time. Creating diversification and reducing risk. Keeping up in a market where sales come mostly from new products. |
a |
|
The CEO of David’s firm just came back from a business seminar, and he called David into his office. He stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you’re doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that the product life cycle is not a useful concept. it is often impossible to identify with precision where a product is in the product life cycle. the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation. the idea has been discredited by recent research. his job may be threatened by the answer. |
b |
|
For new product marketers, early adopters are important because they tend to be few in number. the first to adopt a new product. opinion leaders. fond of prototypes. alpha testing enthusiasts. |
c |
|
If they create new markets, pioneer or breakthrough products will likely result in late maturity buying. can add tremendous value to firms. incorporate reverse engineering outputs. require the use of concept testing services. must be geographically centered. |
b |
|
_____ refers to the process by which ideas get transformed into new offerings, including products, services, processes, and branding concepts that will help firms grow. Marketing Innovation Strategic Planning Concept testing Product development |
b |
|
In managing its product portfolio, 3M demands that a specific percentage of its yearly sales come from new products introduced within the previous few years in order to better with stand external shocks and respond to fashion cycles. change customer preferences. improve business relationships. hedge against market saturation. manage risk through diversification. |
e |
|
_____ refers to the process by which the use of a product, service or process spreads throughout a market group, over time and across various categories. Innovation Fashion cycles Market segmentation The product life cycle Diffusion of innovation |
e |
|
The introduction of the Apple iPod is an example of _____ because its introduction to the market radically changed consumer preferences and the entire competitive landscape. a fad a pioneer an early adopter an imitator a laggard |
b |
|
As _____, one of the advantages that pioneers have is they create a new market or product category, establishing a commanding initial market share lead. laggards imitators first movers fashion cycles early adopters |
c |
|
Tyler is highly knowledgeable about new developments in bicycling technology, since he reads everything he can find about the subject. Typically being the first to try out new bicycle models, he would be classified _____ in terms of the diffusion of innovation curve. as a laggard as an innovator as an early adopter in the late majority in the early majority |
b |
|
_____ represent(s)a substantial portion of the population, and few new products and services can be profitable until this large group buys them. Laggards Innovators Early adopters The late majority The early majority |
e |
|
In some cases, _____ may never adopt a certain product or service, since they rely on traditional products until they are no longer available. laggards innovators early adopters the late majority the early majority |
a |
|
A product that is perceived to be better than most substitutes is said to have _____, which should serve to speed up the diffusion process. a relative advantage compatibility observability complexity trialability |
a |
|
People who get Botox treatments consider it to be a private matter, therefore, they do not discuss it with others. This lowers the level of _____, slowing down the diffusion process. trialability complexity observability compatibility relative advantage |
c |
|
_____ relates to how easily consumers can test and use the product. Trialability Availability Observability Compatibility Relative advantage |
a |
|
_____ involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor’s patents, if any exist. Outsourcing Brainstorming Reverse engineering Market testing Licensing |
c |
|
In the new product development process, when companies provide brief written descriptions of the product and what customer needs it would satisfy, sometimes including visual images of what the product would look like it involves idea generation. concept testing. product development. market testing. product launch. |
b |
|
The _____ stage of the new product development process can involve the development of a prototype for alpha or beta testing. market testing concept testing product launch idea generation product development |
e |
|
In order to examine the potential success of its 1/3-pound Angus hamburger, McDonald’s started offering and promoting the product in three southern cities. This move is an example of test marketing. beta testing. prototype marketing. alpha testing. trade promotion. |
a |
|
The _____ stage of the new product development process requires tremendous financial resources and extensive coordination of the marketing mix to roll out the product. market testing concept testing product launch idea generation product development |
c |
|
The most common type of consumers in the introduction stage of the product life cycle are the laggards. innovators. early adopters. late majority. early majority. |
b |
|
At which stage in the product life cycle do sales experience their most rapid increase? Product development Introduction Growth Maturity Decline |
c |
|
In the United States, most consumer packaged goods found in grocery and discount stores are already in the _____ stage, which is characterized by the adoption of the product by the late majority and intense competition for market share among firms. introduction growth maturity first decline |
c |
|
Firms with products in the _____ stage of the product life cycle either position themselves for a niche segment of diehard consumers or those with special needs, or they completely exit the market. product development introduction growth maturity decline |
e |
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