Insurance companies expend a lot of effort marketing their offerings, mainly due to the fact that insurance is _____ that consumers don't normally think about much.
a. a specialty product
b. a convenience product
c. a shopping product
d. an augmented product
e. an unsought product
Answer: e. an unsought product
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Marketing Chapter 11
- NutriOats, an oatmeal cookie product, has been in the market for more than seven years and is now in its decline stage. In this case, which of the following strategies would be successful in marketing NutriOats?
- The beginning of which stage of the product life cycle is signaled by a long-run drop in a product's sales?
- Atwood Furnishers is experiencing a period when their sales are increasing at a slower rate. The company realizes that new users cannot be added indefinitely and that, sooner or later, its market will approach saturation. Which stage is the company now entering?
- Magnira Corp. is an apparel company. After a slow start, it saw a steep rise in the number of its customers and a remarkable increase in its profits. However, with the launch of competing apparel manufacturers in the market, the profits of Magnira have started declining. To sustain its growth in the market, the managers of Magnira should
- A new range of organic confectionary was introduced by Bounty Foods. The company is forced to give its dealer high margins and also needs to invest heavily in advertising. Their production costs are also high. In which PLC stage is the company most likely to be?
- Marketing costs are high in the introductory stage of the product life cycle because
- Which is a limitation of the PLC concept?
- Which is a characteristic of fads?
- The PLC for a brand that was the first and last competitor in a product form market is ______.
- Which of the following provides an accurate contrast of product life cycle lengths?
- Which of the following products has the highest trialability?
- Comparably speaking, which of the following would have the highest observability in terms of its rate of acceptance and diffusion?
- When predicting or explaining the rate of acceptance and diffusion of a new product, the degree to which it can be sampled on a limited basis is its ______.
- When predicting or explaining a new the rate of adoption and diffusion of a new product, relative advantage refers to the degree to which that product is ______.
- When considering a product's characteristics and the rate of adoption, complexity refers to the degree to which a new product is ______.
- When considering the diffusion of innovation, which group is least motivated by advertising or personal selling?
- Which of the following describes the late majority?
- Which of the following describes laggards?
- Identify a similarity between laggards and innovators.
- Jason bought his first color television set after flat screen televisions were already widely diffused. He is most likely to be one among the ______.
- In the context of diffusion of innovation, the dominant value of laggards is _____.
- Steven, a construction worker, tends to buy a new gadget if most of his friends have them and only after they've teased him about not having the gadget yet. He relies on reviews from his friends rather than on television or newspaper advertisements to make his purchase decisions. It can be inferred that when it comes to the diffusion of innovation, Steven belongs to the group of _____.
- Which is a key characteristic of those in the early majority who purchase a new product?
- Which of the following is a characteristic shared by both early majority and the late majority?
- Which is true of the influencers found among early adopters?