FINANCE

Question 15

What does good variability consists of?

[removed] A. Errors in the system, logistics, human resources and marketers want to reduce this variability.
[removed] B. The customization and tailoring of the service delivery for the customer’s unique needs.
[removed] C. A service provider representing the company.
[removed] D. Advancing in many industries wherein a customer interacts with technology, banking, airport check-in, etc.

Question 16

Hannah and Ellen rely on consistent messages received via word of mouth, and are older and more conservative than other customers of Product X.  Hannah and Ellen most likely fall into which of the following categories?

[removed] A. late majority
[removed] B. early majority
[removed] C. laggards
[removed] D. innovators

Question 17

In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace?

[removed] A. market introduction
[removed] B. Decline
[removed] C. market growth
[removed] D. Maturity

Question 18

What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income?

[removed] A. early adopters
[removed] B. early majority
[removed] C. innovators
[removed] D. laggards

Question 19

If a company wants to be innovative, which strategy are they most likely to use?

[removed] A. market penetration
[removed] B. product development
[removed] C. market development
[removed] D. diversification

Question 20

At which stage in the new product development process does the company have a number of ideas that it thinks might work, and gets customers’ feedback as to which ideas sound most promising?

[removed] A. test marketing
[removed] B. concept testing
[removed] C. product development
[removed] D. product testing

Question 21

The different types of purchases are different because ______.

[removed] A. of the product itself
[removed] B. of differences in the mind of the customer
[removed] C. of customer attitudes
[removed] D. the price varies

Question 22

Which phase of the vehicle purchase process generates word of mouth?

[removed] A. customer evaluation
[removed] B. pre-purchase
[removed] C. Purchase
[removed] D. post-purchase

Question 23

A ____ item is something that is purchased without much thought before the purchase.

[removed] A. Quick
[removed] B. Specialty
[removed] C. Convenience
[removed] D. Shopping

Question 24

If a company wants a customer to have a higher motivation to learn more about their products, they should do what?

[removed] A. create customer involvement
[removed] B. advertise more
[removed] C. lower prices
[removed] D. increase brand awareness

Question 25

Customer involvement is ____ on a B2C specialty purchase.

[removed] A. Very low
[removed] B. Low
[removed] C. Medium
[removed] D. High

Question 26

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