Exam (elaborations)
MKTG 351 EXAM 3 CSUF| 174 QUESTIONS AND ANSWERS
- Module
- MKTG 351
- Institution
- Oxford University (OX)
MKTG 351 EXAM 3 CSUF| 174 QUESTIONS AND ANSWERS
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MKTG 351 EXAM 3 CSUF 174QUESTIONS AND ANSWERS
simulated (laboratory) market testing - answer the presentation of advertising and other
promotional materials for several products, including a test product, to members of the
products target market
commercialization - answer the decision to market a product
innovation - answer a product perceived as new by a potential adopter
simultaneous product development - answer a team-oriented approach to new-product
development
development - answer the stage in the product development process in which a prototype is
developed and a marketing strategy is outlined
new product - answer a product new to the world, the market, the producer, the seller, or some
combination of these
new-product strategy - answer a plan that links the new-product development process with the
objectives of the marketing department, the business unit, and the corporation
brainstorming - answer the process of getting a group to think of unlimited ways to vary a
product or solve a problem
introductory stage - answer the full-scale launch of a new product into the marketplace
,business analysis - answer the second stage of the screening process where preliminary figures
for demand, cost, sales, and profitability are calculated
maturity stage - answer a period during which sales increase at a decreasing rate
Test marketing - answer the limited introduction of a product and a marketing program to
determine the reactions of potential customers in a market situation
concept test - answer a test to evaluate a new-product idea, usually before any prototype has
been created
decline stage - answer simulated (laboratory) market testing
commercialization - answer the decision to market a product
Diffusion - answer the process by which the adoption of an innovation spreads
Product development - answer a marketing strategy that entails the creation of marketable new
products; the process of converting applications for new technologies into marketable products
product life cycle (PLC) - answer a concept that provides a way to trace the stages of a products
acceptance, from its introduction (birth) to its decline (death)
product category - answer all brands that satisfy a particular type of need
screening - answer the first filter in the product development process, which eliminates ideas
that are inconsistent with the organizations new-product strategy or are obviously inappropriate
for some other reason
, growth stage - answer the second stage of the product life cycle when sales typically grow at an
increasing rate, many competitors enter the market, large companies may start to acquire small
pioneering firms, and profits are healthy
inseparability - answer the inability of the production and consumption of a service to be
separated; consumers must be present during the production
heterogeneity - answer the variability of the inputs and outputs of services, which causes
services to tend to be less standardized and uniform than goods
Reliability - answer the ability to perform a service dependably, accurately, and consistently
credence quality - answer a characteristic that consumers may have difficulty assessing even
after purchase because they do not have the necessary knowledge or experience
core service - answer the most basic benefit the consumer is buying
intangibility - answer the inability of services to be touched, seen, tasted, heard, or felt in the
same manner that goods can be sensed
service - answer the result of applying human or mechanical efforts to people or objects
Responsiveness - answer the ability to provide prompt service
supplementary service - answer a service that supports or enhances the core service
Empathy - answer caring, individualized attention to customers
Assurance - answer the knowledge and courtesy of employees and their ability to convey trust
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