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IWBZ BWL Quiz on Marketing Lecture 5, created by odessa m on 11/02/2019.

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Marketing Lecture 5

Question 1 of 45

1

Crowdsourcing: Inviting broad communities of people into new product innovation process

Select one of the following:

  • True
  • False

Explanation

Question 2 of 45

1

Idea screening: Screening new product ideas to spot bad ideas and drop good ones

Select one of the following:

  • True
  • False

Explanation

Question 3 of 45

1

Product concept: detailed version of new-product idea stated in meaningful consumer terms

Select one of the following:

  • True
  • False

Explanation

Question 4 of 45

1

Concept testing: testing new-product concepts without group of target consumers

Select one of the following:

  • True
  • False

Explanation

Question 5 of 45

1

The first part of the marketing strategy statements describes

Select one or more of the following:

  • target market

  • planend value proposition

  • products planned price

  • profit goals

  • marketing budget

Explanation

Question 6 of 45

1

The second part of marketing strategy statement outlines

Select one or more of the following:

  • products planned price

  • market share

  • distribution

  • planned long-run sales

Explanation

Question 7 of 45

1

The third part of marketing strategy statement describes

Select one or more of the following:

  • planned long run sales

  • market share

  • marketing mix strategy

  • profit goals

Explanation

Question 8 of 45

1

Business analysis: Review of sales, costs and profit projections for new product to find out it companies objectives will be satisfied

Select one of the following:

  • True
  • False

Explanation

Question 9 of 45

1

Product development: developing product concept into physical product

Select one of the following:

  • True
  • False

Explanation

Question 10 of 45

1

Test marketing : stage of new product development in which product is tested in realistic market settings

Select one of the following:

  • True
  • False

Explanation

Question 11 of 45

1

Commercialization: introducing new product into market

Select one of the following:

  • True
  • False

Explanation

Question 12 of 45

1

Customer-centered new-product development : focuses on finding new ways to solve customer problems and create more satisfying experiences for them

Select one of the following:

  • True
  • False

Explanation

Question 13 of 45

1

Team-based new-product development: various company departments work closely together, saving time and increasing effectiveness is not important

Select one of the following:

  • True
  • False

Explanation

Question 14 of 45

1

Systematic new-product development: compartmentalized (aufgegliedert) rather than holistic (ganzheitlich)

Select one of the following:

  • True
  • False

Explanation

Question 15 of 45

1

In difficult times innovation more often hurts than helps

Select one of the following:

  • True
  • False

Explanation

Question 16 of 45

1

Product life cycle: course of a products sales and profits over time

Select one of the following:

  • True
  • False

Explanation

Question 17 of 45

1

The product life cycle involves how many stages?

Select one of the following:

  • 3

  • 5

  • 6

Explanation

Question 18 of 45

1

The stage in which a new product is first distributed and made available for purchase

Select one of the following:

  • Introduction stage

  • Growth stage

  • Maturity stage

  • Decline Stage

Explanation

Question 19 of 45

1

The stage in which a producers sales start climbing quickly

Select one of the following:

  • Introduction stage

  • Growth stage

  • Maturity stage

  • Decline stage

Explanation

Question 20 of 45

1

Stage in which products sales growth slows or levels off

Select one of the following:

  • Introduction stage

  • Growth stage

  • Maturity stage

  • Decline stage

Explanation

Question 21 of 45

1

Stage in which a products sales decline

Select one of the following:

  • Introduction stage

  • Growth stage

  • Maturity stage

  • Decline stage

Explanation

Question 22 of 45

1

What is the marketing objective during the maturity stage?

Select one of the following:

  • Maxime market share

  • Maximize Profit while defending the market share

  • reduce expenditure

Explanation

Question 23 of 45

1

What is the marketing objective during the growth stage?

Select one of the following:

  • maximize market share

  • maximize profit while defending market share

  • reduce expenditure

Explanation

Question 24 of 45

1

Style?

Select one of the following:

  • basic and distinctive mode of expression (several periods of renewed interest)

  • currently accepted or popular style ( grows slowly, remain popular for a while, decline slowly )

  • temporary period of high sales driven by consumer enthusiasm (immediate brand popularity)

Explanation

Question 25 of 45

1

Fashion?

Select one of the following:

  • basic and distinctive mode of expression (several periods of renewed interest)

  • currently accepted or popular style ( grows slowly, remain popular for a while, decline slowly )

  • temporary period of high sales driven by consumer enthusiasm (immediate brand popularity)

Explanation

Question 26 of 45

1

Fad (Modeerscheinung)?

Select one of the following:

  • temporary period of high sales driven by consumer enthusiasm (immediate brand popularity)

  • currently accepted or popular style ( grows slowly, remain popular for a while, decline slowly )

  • basic and distinctive mode of expression (several periods of renewed interest)

Explanation

Question 27 of 45

1

Price is the amount of money charged for a product/service

Select one of the following:

  • True
  • False

Explanation

Question 28 of 45

1

Good-value pricing: Offering the right combination of quality and good service at a fair price

Select one of the following:

  • True
  • False

Explanation

Question 29 of 45

1

Value-added pricing: attaching value-added features to differentiate a companies offer without charging higher prices

Select one of the following:

  • True
  • False

Explanation

Question 30 of 45

1

Fixed costs: costs that vary with production or sales value

Select one of the following:

  • True
  • False

Explanation

Question 31 of 45

1

Setting prices based on costs for producing, selling the product- is defined by the term:

Select one of the following:

  • Cost-based pricing

  • Value-based pricing

Explanation

Question 32 of 45

1

Setting price based on buyers perceptions of value - term?

Select one of the following:

  • Value-based Pricing

  • Cost-based pricing

Explanation

Question 33 of 45

1

Variable costs: costs that vary with level of production

Select one of the following:

  • True
  • False

Explanation

Question 34 of 45

1

Total costs: fixed costs divided by variable costs

Select one of the following:

  • True
  • False

Explanation

Question 35 of 45

1

Cost-plus pricing can also be called markup pricing

Select one of the following:

  • True
  • False

Explanation

Question 36 of 45

1

Cost-plus pricing means adding a standard markup to the costs of the product

Select one of the following:

  • True
  • False

Explanation

Question 37 of 45

1

Break-even pricing (target return pricing): setting price to break even on the costs of making

Select one of the following:

  • True
  • False

Explanation

Question 38 of 45

1

Setting prices based on comeptitos strategies,prices, costs and market offering is called "Competition Based Pricing "

Select one of the following:

  • True
  • False

Explanation

Question 39 of 45

1

Setting a high price for new product to skim maximum revenues (Erträge) from segments willing to pay the high price
(few but profitable sales)

Select one of the following:

  • Market-skimming pricing

  • Market-penetration pricing

Explanation

Question 40 of 45

1

Setting low price for new product to attract large number of buyers and large market share

Select one of the following:

  • Market-skimming pricing

  • Market-penetration pricing

Explanation

Question 41 of 45

1

Sellers must set prices without talking to competitors

Select one of the following:

  • price fixing

  • predatory pricing

  • unfair price discrimination

  • decepetive pricing

Explanation

Question 42 of 45

1

Selling below costs with the intention to punish competitor

Select one of the following:

  • price fixing

  • predatory pricing

  • unfair price discrimination

  • deceptive pricing

Explanation

Question 43 of 45

1

sellers have to offer same price terms to customers at a given level of trade

Select one of the following:

  • price fixing

  • predatory pricing

  • unfair price discrimination

  • deceptive pricing

Explanation

Question 44 of 45

1

Retail or resale price maintenance : manufacturer cannot require dealers to charge s specified retail price for its product

Select one of the following:

  • True
  • False

Explanation

Question 45 of 45

1

Seller states prices or price savings that mislead consumers or are not actually available to consumer

Select one of the following:

  • price fixing

  • unfair price discrimination

  • predatory pricing

  • deceptive pricing

Explanation

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