1. Tony Hsieh's most important contribution at Zappos was to

   1. immediately change its product mix.

   2. develop its segmentation strategy.

   3. focus on value-oriented customers.

   4. focus on unknown brands.

   5. shift to a more transactional focus.

2. Question 2

   Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

   1. consumer differentiation.

   2. psychographics.

   3. market segmentation.

   4. market delineation.

   5. aggregation marketing.

3. Question 3

   A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as

   1. market penetration.

   2. points of difference.

   3. market differentiation.

   4. product positioning.

   5. product differentiation.

4. Question 4

   The process of segmenting a market and selecting specific segments as targets is the link between _________ and the organization's marketing program.

   1. self-regulatory industry standards

   2. government regulations

   3. top-level management

   4. buyers' or market needs

   5. controllable environmental factors

5. Question 5

   A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a

   1. needs table.

   2. cross-tabulation.

   3. market-product grid.

   4. growth-share matrix.

   5. product differentiation table.

6. Question 6

   A business firm goes to the trouble and expense of segmenting its markets when

   1. it can comfortably maintain market share.

   2. it expects this to result in increased sales and profits.

   3. it can also assume social responsibility.

   4. the firm's resources are very scarce.

   5. it desires to provide the best quality products on the market.

7. Question 7

   Tailoring products or services to the taste of individual customers on a high-volume scale is referred to as

   1. family branding.

   2. mass customization.

   3. product differentiation.

   4. economies of scale marketing.

   5. build-to-order.

8. Question 8

   Manufacturing a product only when there is an order from a customer is referred to as

   1. order customization.

   2. a one product, one market segment strategy.

   3. synergistic marketing.

   4. build-to-order.

   5. specialty customization.

9. Question 9

   Organizational synergy is the increased customer value achieved through

   1. performing organizational functions more efficiently.

   2. more discounts or larger rebates at the point of sale.

   3. involvement of the ultimate consumer in product design.

   4. an increase in the knowledge of competitors.

   5. shared ownership of the organization through publicly traded stock.

10. Question 10

    When a new product or a new retail chain steals customers and sales from the organization's older products and retail outlets, it is referred to as

    1. cannibalization.

    2. amortization.

    3. product appropriation.

    4. product pilfering.

    5. marketing Darwinism.

11. Question 11

    A concept that describes the stages a product goes through in the marketplace---introduction, growth, maturity, and decline--- is referred to as the

    1. retail life cycle.

    2. product life cycle.

    3. marketing mix.

    4. product growth cycle.

    5. diffusion of product innovation.

12. Question 12

    What is the marketing objective for the introduction stage of the product life cycle?

    1. harvesting

    2. market share

    3. stress differentiation

    4. maintain brand loyalty

    5. gain awareness

13. Question 13

    What is the marketing objective for the growth stage of the product life cycle?

    1. minimize promotion

    2. increase market share

    3. stress differentiation

    4. gain awareness

    5. maintain brand loyalty

14. Question 14

    What is the marketing objective for the maturity stage of the product life cycle?

    1. begin deletion

    2. implement skimming

    3. stress differentiation

    4. gain awareness

    5. maintain brand loyalty

15. Question 15

    What is the marketing objective for the decline stage of the product life cycle?

    1. harvesting

    2. add outlets

    3. stress differentiation

    4. gain awareness

    5. maintain brand loyalty

16. Question 16

    The preference for a specific brand is called ______demand.

    1. selective

    2. secondary

    3. primary

    4. derived

    5. explicit

17. Question 17

    People who tried a product, were satisfied, and bought it again are called ________.

    1. frequent

    2. recurring

    3. customary

    4. habitual

    5. repeat

18. Question 18

    Products that experience rapid sales on introduction and then an equally rapid decline are called ______ products.

    1. high-learning

    2. low-learning

    3. fashion

    4. fad

    5. primary

19. Question 19

    The consumers who adopt a new product in the earliest stage of a product life cycle are called

    1. early adopters.

    2. early majority.

    3. late majority.

    4. laggards.

    5. innovators.

20. Question 20

    If a customer is reluctant to try a new product because he'd have to change his normal everyday behaviors, the company introducing it is most likely facing a ________ barrier.

    1. usage

    2. risk

    3. value

    4. financial

    5. psychological

Answer rating: 100% (QA)

1 Tony Hsiehs most important contribution to Zappos was to focus on valueoriented customers Tony Hsieh was the former CEO of Zappos which is online shoes selling brand With this venture he managed to ... View the full answer