Mkt 100 final exam 2 98% correct

1) Identify and explain the stages of the Product Life Cycle. Use examples where helpful to illustrate.

2) In which stage of Product Life Cycle do retail brands and private labels enter the market?

3) A Kotler and Armstrong-authored Fundamentals of Marketing textbook purchased at the college bookstore is considered to be a different product than the same textbook title purchased on the internet from Amazon.com

4) Which stage in the Product Life Cycle is characterized by the marketer ceasing production and cutting the product off from any funding support?

5) If one-hundred people are exposed to the same stimuli at the same time in the same place, it can be reasonably expected that everyone will have the same perception of the meaning of that stimuli.

6) Consumers position products in their minds in order to simplify the buying process.

7) Today, most companies have moved back toward mass marketing (away from market segmentation) and are being choosier about the customers with whom they wish to build relationships.

8) Identify and explain the elements in SW/OT analysis as it relates to strategic planning. Use examples where helpful to illustrate.

9) Identify and explain the stages of the Consumer Decision Process. Use examples where helpful to illustrate

10) Which exam version did you select (and therefore, according to which point scheme you wish to be graded) SELECT ONLY ONE OF THE FOLLOWING:

11) “Diversification” is a growth strategy in which a company produces products outside of the markets in which they typically compete.

13) Prior to their potential introduction to the market, test markets are conducted for new products in carefully selected geographic areas whose population’s characteristics are matched to the target market characteristics the firm intends to focus upon.

14) Santa Claus:

Along with his reindeers will wear masks while delivering gifts to your homes.

18) The major purpose of test marketing is to provide management with the information needed to make a final decision about_____

19) When a company identifies the parts of the market it can serve best and most profitably, it is practicing________

20) The most popular method used to gather primary data is observation

21) In which stage of the Product Life Cycle do most new products fail?

22) Mass marketing

23) In which stage of the New Product Development Process does a company focus on such matters as –costs to produce a new product, size and potential profitability of the target market, and break-even point?

25) In which stage of the Product Life Cycle will promotional expenditures be especially high in an attempt to create consumer awareness?

26) 10) Which exam version did you select (and therefore, according to which point scheme you wish to be graded) SELECT ONLY ONE OF THE FOLLOWING:

27) A(n) __________ is a name, term, sign, symbol, design, or a combination of these, that identifies the maker or seller of a product or service. 

28) Lifestyle characteristics and personality characteristics are two types of variables used in ______ segmentation.

29) New-product development starts with_________

30) The purpose of idea-generation is to create ______ number of ideas. The purpose of succeeding stages of new product development is to ________ that number.

31) When fewer of the universal functions of marketing are utilized by marketers, the costs associated with a product will fall.

32) A firm’s weaknesses are generated from external conditions such as competition.

33) Which stage in the Product Life Cycle is characterized by rapid market acceptance and increased sales?

34) Identify and explain the categories of products identified within the Boston Consulting Group’s Portfolio Matrix? Use examples where helpful to illustrate.

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