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DBS 5048

. 1. Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be _____ segmentation. geographic benefit end-use customer. . 2. A company or store gains a(n) _____ by understanding customer needs better than competitors do and deliver

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DBS 5048

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    1. DBS 5048 QUIZ 3

    2. 1. Your firm has decided to localize its products and services to meet local market demands. A good approach to use would be _____ segmentation. geographic benefit end-use customer

    3. 2. A company or store gains a(n) _____ by understanding customer needs better than competitors do and delivering more value. competitive advantage positioning advantage cost advantage efficiency advantage

    4. 3. _____ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Line extensions Services Brands Consumer products

    5. 4. _____ are those products purchased for further processing or for use in conducting a business. Unsought products Specialty products Shopping products Industrial products

    6. 5. A company can obtain new products through new product development. Which of the following define(s) new products? Original products. Product improvements. Product modification. All of the above.

    7. 6. Once the product or service passes the business analysis test, it moves into what stage? Concept development. Product development. Market testing. Research and developing.

    8. 7. Some retailers, such as _____, carry narrow product lines with deep assortments within those lines. chain stores specialty stores convenience stores discount stores

    9. 8. _____ sell standard merchandise at lower prices by accepting lower margins and selling higher volume. Merchant wholesalers Discount stores Full-service retailers Limited-service retailers

    10. 9. _____ is never simple, yet understanding it is the essential task of marketing management. Brand personality Consumption pioneering Early adoption Consumer buying behavior

    11. 10. Marketing stimuli consist of the four Ps. Which is not one of these Ps? Product. Political. Price. Promotion.

    12. 11. New product development starts with _____. idea generation idea screening concept development concept testing

    13. 12. What is the most important point in retailing success? Fair prices. Good atmosphere. Helpful employees. Location.

    14. Answers

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