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Marketing review chp30-5
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Marketing review chp30-5

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  • 1. Marketing True or False Marketing Fill in the Blanks Marketing Explain / Examples Marketing Misc. $1 $1 $1 $1 $1 $10 $10 $10 $10 $10 $20 $20 $20 $20 $20 $50 $50 $50 $50 $50 $100 $100 $100 $100 $100 Marketing Terms
  • 2. The major goal of this stage of the product life cycle is to draw attention to the product.
  • 3. Introduction stage of the product life cycle.
  • 4. The largest minority in the United States?
  • 5. Hispanic Americans
  • 6. Name the two types of data used in marketing research.
  • 7. Primary and Secondary
  • 8. A group of closely related products manufactured and or sold by a business is called its
  • 9. Product Line
  • 10. When constructing a questionnaire they must have both Validity and Reliability define each.
  • 11. Validity exists when the questions asked measure what was intended to be measured Reliability exists when a research technique produces nearly identical results in repeated trials
  • 12. True or False…. Information about the values and attitudes that shape consumers lifestyles is called demographics
  • 13. False. Psychographics
  • 14. True or False….. Modernizing or altering a product sometimes occurs during the maturity stage of the product life cycle.
  • 15. False…..During the decline stage.
  • 16. True or False A focus group is a group of six to ten people who are brought together by researchers to discuss a particular situation or reactions to a product.
  • 17. True
  • 18. True or False… An open-ended question allows you to choose an answer from a selection of possible responses.
  • 19. False…. An open ended question lets you write a response any response. A forced – choice question forces you to choose an answer from the selections.
  • 20. True or False…. Product width refers to the number of different product lines a business manufacturers or sells
  • 21. True
  • 22. Income used for necessity items (housing, food etc) is referred to as?
  • 23. Disposable Income Disposable Income (Net) is the amount of $$ earned after taxes are deducted. Marketers of necessary items are interested in this amount.
  • 24. _________ _________ is a process that involves treating each product category as an individual business unit.
  • 25. Category Management
  • 26. There are 4 basic strategies in a product mix what are they?
  • 27. Develop New Products Product Extension Product Modification Product Deletion
  • 28. The different products a company makes or sells are known collectively as its ________ ______.
  • 29. Product Mix
  • 30. The stages a product goes through is called its _______ ______ ______
  • 31. Product Life Cycle
  • 32. What are the advantages and disadvantages of secondary data?
  • 33. 1. Advantages • • • Easily Obtained Generally inexpensive Quick to collect 2. Disadvantages • • Non-applicable Inaccurate or outdated
  • 34. What term is used to describe the eventual goal of marketing?
  • 35. Exchange
  • 36. Explain the difference between product width and product depth.
  • 37. Product width: The number of product lines a business manufactures or sells Product depth: The number of product items offered in each product line.
  • 38. What are the stages of the product life cycle?
  • 39. 1. 2. 3. 4. Introduction Growth Maturity Decline
  • 40. Kmart hires a mystery shopping service to obtain information about its customers. Is this primary or secondary research?
  • 41. Primary
  • 42. Which economic utility is affected when Mike’s Sporting Goods began accepting debit cards as a form of payment? Answer: _____ Utility
  • 43. Possession Utility
  • 44. List the seven key steps to developing new products.
  • 45. 1. 2. 3. 4. 5. 6. 7. Generating Ideas Screening Ideas Developing a Business Proposal Developing the Product Testing the Product Introducing the Product Evaluating Customer Acceptance.
  • 46. Making decisions about the product and service features needed to sell a business’s products , service or ideas is called?
  • 47. Product Planning
  • 48. Identify and describe the 4 different ways we can obtain data using the survey method.
  • 49. • In person: » Personal Interviews, Mall Intercept, Focus Groups • Telephone: » Telephone Interviews • Mail: » Mail Survey • Internet: » Online Survey
  • 50. The next Deca Competition will be held where and when?
  • 51. Rochester NY, March 6-9

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