Difficulty: Easy
9.
Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs?
A)
conspicuous consumption
B)
marketing myopia
C)
vendor lock-in
D)
value proposition
E)
social loafing
Page Ref: 29
AACSB:
Skill: Concept
Objective: 1-2
Difficulty: Moderate
10.
When marketers set low expectations for a market offering, they run the risk of ________.
A)
incorrectly identifying a target market
B)
having to use an outside-in rather than an inside-out perspective
C)
disappointing loyal customers
D)
failing to understand their customers' needs
E)
failing to attract enough customers
Page Ref: 29
AACSB:
Skill: Concept
Objective: 1-2
Difficulty: Easy
11.
________ is the act of obtaining a desired object from someone by offering something in return.
A)
Exchange
B)
Donation
C)
Market offering
D)
Valuation
E)
Confiscation
Page Ref: 29
AACSB:
Skill: Concept
Objective: 1-2
Difficulty: Easy
12.
A(n) ________ is the set of actual and potential buyers of a product.
A)
focus group
B)
audience
C)
subsidiary
D)
market
E)
control group
Page Ref: 29
AACSB:
Skill: Concept
Objective: 1-2
Difficulty: Easy
13.
Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities.