Mid Term Practice Flashcards
When Procter and gamble introduced crest toothpaste, the first fluoride toothpaste, it was intended for use by children and was therefore given a child-appealing bubble gum flavour. Later the same basic formula was given a fresh, minty flavour to appeal to adults. What is this marketing strategy called?
Segment marketing
It involves designing specific products and services to meet the needs of different target groups
Originally Kellogg only manufactured one product, Kellogg corn flakes and offered it to all market segment. Today the company markets multiple brands to different market segments. Which approach did Kellogg adopt for its first product Kellogg corn flakes?
Mass marketing
This approach is when a product with broad appeal is widely marketed to the entire market with no product or marketing differentiation at all.
Two colleagues discuss where to go for lunch. Once says to the other, “ it’s noon, so most of the restaurants will be crowded. But the boss is out of town, so we could take an extra hour and relax a bit.” Which situational influence does their conversation illustrate?
Temporal effects
Time of day or the amount of time available, can influence where consumers have breakfast, or lunch and what is ordered.
Sunshine vacations offers holiday packages to Canadian customers. Which of the following statements, if true, will weaken the firms business?
The government of Canada raised income tax rates in the previous month
Employee salaries in Canada have increased by 25%
Necessities such as rent and clothing have become cheaper in Canada
Consumers disposable income has increase in the recent past
The government of Canada raised income tax rates in the previous month
Discretionary income is the after-tax income a consumer has left after paying for necessities such as food, shelter, and clothing. This income is used for discretionary purchases such as going on vacation. Increase in taxes reduces customers discretionary income.
To be effective the marketing mix elements must be coordinated to appeal to
The distinct characteristics of the target market
The elements of the marketing mix- known as the 4 ps: product, price, place and promotion- are all controllable factors that need to be carefully managed by marketers to ensure that they are well-coordinated and that each appeals to the distinct characteristics of the target market
Modern maturity magazine is a publication that is sent to all CARP members who, by definition, have to be at least 50 years of age to become members. The market segment for modern maturity magazine was defined by
Demographic characteristics
Eddie an avid football fan, is glued to the tv every Sunday afternoon as he watched his favourite teams. He thinks games would be more enjoyable on a big screen tv. Eddie started talking with his friends to learn more about the various brands of big screen tvs. Which step if the purchase decision making process is Eddie in?
Information search
After recognizing a problem, consumers begin to search for information about what product or service might satisfy the newly discovered need
Jamie decided to buy a laptop for himself. He asks about different brands from his friends who already have laptops. He also puts up his hunt for the right laptop on Facebook expecting reviews from friends who own laptops. Isaac his friend who owned a particular laptop, told Jamie that the laptop had excellent features, and it was one of this best investments. He analyzes the responses and decides to buy the laptop Isaac has.
What influenced Jamie’s choice?
Socio-cultural influences
Which evolve from a consumers formal and informal relationship with other people, also have an impact on consumer behaviour. These include personal influence, reference groups, family, culture and subculture
Successful marketing is focused on customer needs and wants and
Developing marketing programs that engage consumers and inspire customer loyalty
Ted is considering which new mobile phone plan he will purchase. Ted is concerned with price but also wishes to choose a provider with good geographical service coverage and customer service that has good reviews. This represents
Teds evaluative criteria
These factors represent both the objective attributes of a brand and the subjective ones you use to compare different products and brands
