Quiz #2

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Seneca College *

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MARK2033

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Business

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Feb 20, 2024

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docx

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MRK 108 NZE/NZG Summer 2020 Quiz #2 Semester Value 5% Answer all 20 questions 1. Why is the creation of a product the starting point for the marketing mix? c. Determination of the price, promotional campaign, and distribution network cannot begin until the product has been specified. 2. What does the convenience product marketing strategy include? a. wide distribution of the product 3. Compared to the other classifications of consumer products, shopping products are which of the following? d. usually more expensive than convenience products and found in fewer stores 4 . Michael Kors is a retailer of designer handbags, shoes and watches primarily for women. This retailer’s items are searched for extensively, do not have acceptable substitutes, are very expensive, and often have very limited distribution. What sort of products are these? c. branded shopping 5. The most expensive refrigerator in the world is the Sub-Zero brand. Many consumers believe it to be the best brand made. For people who insist on having the best kitchen money can buy and will accept no less, the Sub-Zero refrigerator is an example of which type of product? b. specialty item 6. When deciding on distribution plans for specialty products, what do companies generally ensure? c. These items are distributed to only a few stores in a geographic area. 7 . Over time, firms change product items, lines, and mixes or take advantage of new technical or product developments. What is it called when a company changes a product characteristic? d. product line expansion 8.. A majority of Mercedes Benz’s vehicles are sold outside of Germany. With this in mind, which term refers to brands where at least 20 percent of the product is sold outside the home country? b. global brand

9. . Compared to the other classifications of consumer products, shopping products are which of the following? d. usually more expensive than convenience products and found in fewer stores : 10. Baked beans, ketchup, and pizzas are all manufactured under the Heinz brand name. What strategy is Heinz using? c. bargain branding 11. For years, the Lacoste brand of clothing has targeted 40-something male consumers. Today, it targets both male and female fashion-conscious consumers in their 20s with everything from moon boots to shearling coats. Which strategy is being implemented? d. repositioning 12 A new-product strategy can be best described by which of the following? a. It links the new-product development process with the objectives of the marketing department, the business unit, and the corporation. 13. Which of the following goes one step further than applied research by converting new technology applications into marketable products? d. product development 14 . When selecting a test market city, what should a researcher look for? a. a city where the demographics and purchasing habits mirror the overall market for the product 15. During the growth stage of the product life cycle which of the following happens? a. Demand for the product is limited to high-income consumers. 16. You are a product manager for a manufacturer of trampolines. You have determined that the trampoline is in the maturity stage of the product life cycle. What should you do to keep your product from entering the decline stage? d. Promote trampolines heavily to dealers and customers.

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