MKTG 301 TEST QUESTIONS AND
ANSWERS ALL CORRECT
A product life cycle has five distinct stages: product development, introduction, growth,
maturity, and ____ - Answer- decline
____ means that consumers are likely to remember good points made about a brand
they favor and forget the good points made about competing brands - Answer- Selective
Retention
Harley Davidson disciples share a common, deeply held attraction to the brand. Harley
appeals include: freedom, independence, power, and authenticity. Harley Davidson
doesn't just sell motorcycles. It sells self-expression, lifestyles, aspirations, and dreams.
This illustrates ____ - Answer- Core Customer Values
Subcultures are groups of people with shared value systems based on common life
experiences and situations - Answer- False
Product mix length refers to the ________. - Answer- Total number of items a company
carries within its products
If a product passes both the concept test and the product test, the next step is most
likely to be ________. - Answer- Test Marketing
_____ refers to designing a plan for a new product based on the product conept -
Answer- Concept Screening
The first part of the business analysis is to ___ - Answer- Forecast Sales
Which of these is NOT a reason that new products fail? - Answer- They are made
overseas
Danko International is a multinational company that targets the BRIC countries (Brazil,
Russia, India, and China) because they're fast-growing developing economies and use
________ to segment its world markets. - Answer- Economic Factors
New Products are not very important to a firm's long-term success - Answer- False
, Which of the following is the first stage of buyer decision process - Answer- Need
Recognition
A belief is a descriptive thought that a person holds about something. Beliefs may be
based on real knowledge, opinion, or faith and may or may not carry an emotional
charge - Answer- True
If a firm can position itself as having products that provide superior customer value in
some way, then it can ________ its competitors - Answer- Gain a competitive
advantage over
_____ products are consumer products and services that customers usually buy
frequently immediately, and with minimal comparison and buying effort - Answer-
Convenience
Target and Kohl's have opened smaller-format stores designed to fit the needs of
densely packed urban neighborhoods. This is an example of geographic segmentation.
- Answer- True
The COVID-19 pandemic did not cause any long-term shifts in consumer behavior -
Answer- False
Under a ________ product development approach, one company department works to
complete its stage of the product development process before passing the new product
along to the next department and stage. - Answer- Sequential
Brands vary in the amount of power and value they hold in the marketplace. Iconic
brands like Apple, Google, and Harley-Davidson have achieved substantial brand ___ -
Answer- Equity
Rad, a manufacturer of luxury watches, charges a higher price for its products than its
competitors. Despite the high prices, the brand is popular among customers for its
quality and service in comparison to cheaper alternatives available in the market. In this
case, Rad offers a(n) ________ value proposition. - Answer- More-for-More
Doggie World tested an idea for a new chew toy that would entertain dogs while
simultaneously cleaning their teeth. Dog owners were pleased with the results. The next
stage in developing the new product concept is ________. - Answer- Marketing
Strategy Development
A laptop that is purchased for a graphic design studio is considered an industrial
product. - Answer- True
A firm's ____ states how the firm will create differentiated value for targeted market
segments and the position the firm wants to occupy in those segments - Answer-
Segmentation Plan
ANSWERS ALL CORRECT
A product life cycle has five distinct stages: product development, introduction, growth,
maturity, and ____ - Answer- decline
____ means that consumers are likely to remember good points made about a brand
they favor and forget the good points made about competing brands - Answer- Selective
Retention
Harley Davidson disciples share a common, deeply held attraction to the brand. Harley
appeals include: freedom, independence, power, and authenticity. Harley Davidson
doesn't just sell motorcycles. It sells self-expression, lifestyles, aspirations, and dreams.
This illustrates ____ - Answer- Core Customer Values
Subcultures are groups of people with shared value systems based on common life
experiences and situations - Answer- False
Product mix length refers to the ________. - Answer- Total number of items a company
carries within its products
If a product passes both the concept test and the product test, the next step is most
likely to be ________. - Answer- Test Marketing
_____ refers to designing a plan for a new product based on the product conept -
Answer- Concept Screening
The first part of the business analysis is to ___ - Answer- Forecast Sales
Which of these is NOT a reason that new products fail? - Answer- They are made
overseas
Danko International is a multinational company that targets the BRIC countries (Brazil,
Russia, India, and China) because they're fast-growing developing economies and use
________ to segment its world markets. - Answer- Economic Factors
New Products are not very important to a firm's long-term success - Answer- False
, Which of the following is the first stage of buyer decision process - Answer- Need
Recognition
A belief is a descriptive thought that a person holds about something. Beliefs may be
based on real knowledge, opinion, or faith and may or may not carry an emotional
charge - Answer- True
If a firm can position itself as having products that provide superior customer value in
some way, then it can ________ its competitors - Answer- Gain a competitive
advantage over
_____ products are consumer products and services that customers usually buy
frequently immediately, and with minimal comparison and buying effort - Answer-
Convenience
Target and Kohl's have opened smaller-format stores designed to fit the needs of
densely packed urban neighborhoods. This is an example of geographic segmentation.
- Answer- True
The COVID-19 pandemic did not cause any long-term shifts in consumer behavior -
Answer- False
Under a ________ product development approach, one company department works to
complete its stage of the product development process before passing the new product
along to the next department and stage. - Answer- Sequential
Brands vary in the amount of power and value they hold in the marketplace. Iconic
brands like Apple, Google, and Harley-Davidson have achieved substantial brand ___ -
Answer- Equity
Rad, a manufacturer of luxury watches, charges a higher price for its products than its
competitors. Despite the high prices, the brand is popular among customers for its
quality and service in comparison to cheaper alternatives available in the market. In this
case, Rad offers a(n) ________ value proposition. - Answer- More-for-More
Doggie World tested an idea for a new chew toy that would entertain dogs while
simultaneously cleaning their teeth. Dog owners were pleased with the results. The next
stage in developing the new product concept is ________. - Answer- Marketing
Strategy Development
A laptop that is purchased for a graphic design studio is considered an industrial
product. - Answer- True
A firm's ____ states how the firm will create differentiated value for targeted market
segments and the position the firm wants to occupy in those segments - Answer-
Segmentation Plan
