Marketing Test 2

Question 1

Producer Businesses

Answer 1

Manufacturers, farms, mines, financial institutions and other providers.

Question 2

Intermediaries Businesses

Answer 2

Wholesalers and Retailers

Question 3

Government Businesses

Answer 3

Federal State and Local

Question 4

Nonprofits

Answer 4

National Local

Question 5

Specifications

Answer 5

Describe the need of the buyer

Question 6

Purchase Specifications

Answer 6

Written descriptions of what the firm wants to pay

Question 7

Just-in-Time Delivery

Answer 7

reliably getting products there just before the customer needs them

Question 8

Do customers cluster in specific geographic areas?

Answer 8

Yes

Question 9

Where are US manufacturers concentrated?

Answer 9

Big metropolitan cities like New York, Pennsylvania, Ohio, and California

Question 10

Marketing Research

Answer 10

includes the procedures to gather and analyze information to help marketing managers make decisions

Question 11

Situation Analysis

Answer 11

may uncover information that leads to an early identification of a solution

Question 12

Primary Data

Answer 12

information specifically collected to solve a current problem
Such as: Surveys, experiments

Question 13

Secondary Data

Answer 13

information that has previously been collected or published

Such as: Info from the internet

Question 14

Focus Group

Answer 14

Involves a small group (usually 5 to 10 people) in a discussion- usually for about an hour

Question 15

Market Research Online Community (MROC)

Answer 15

an online group of people who are joined together by a common interest and who participate in ongoing research.

Question 16

Product

Answer 16

means the need-satisfying offering of a firm

Question 17

Quality

Answer 17

means a product’s ability to satisfy a customer’s needs or requirements

Question 18

Product Assortment

Answer 18

all of the firm’s product lines and individual products

Question 19

Product Line

Answer 19

Set of individual products that are closely related and may be produced or operate in a similar way.

Question 20

Brand Rejection

Answer 20

the potential customers wont buy a brand unless its image is changed

Question 21

Brand Insistence

Answer 21

customers insist on a firms branded product and are willing to search for it

Question 22

Packaging

Answer 22

involves the promoting, protecting, and enhancing of the product. Makes the product easier to identify. Safer to use. Can portray nutritional info.

Question 23

Product Life Cycles

Answer 23

continue to get shorter due to technology

Question 24

Concept Testing

Answer 24

evaluate a product before a prototype exists

Question 25

Commercialization

Answer 25

Where you start production and marketing. When you “roll out” your product to selected markets.