1.- The four stages of the product life cycle are:

a).- Product, price, place, and promotion

b).- Market segmentation, market targeting, market positioning, and

differentiation.

c).- Birth, youth, midlife, and maturity

d).- Introduction, growth, maturity, and decline

2.- The VALS-2 Lifestyle model is similar to Maslows hierarchy of needs in

that _____.

a).- they each only have one axis

b).- they are both about lifestyle

c).- they are both about motivation

d).- none of the above

3.- In an industry with little difference between brands and low emotional

involvement from consumers, such as the kitty litter industry, we expect to see

_______ buying behavior.

a).- complex

b).- dissonance reducing

c).- variety seeking

d).- habitual

4.- The small group of consumers who first adopt a new technology are called _____.

a).- early adopters

b).- innovators

c).- early majority

d).- laggards

5.- Whether or not a market segment is large and profitable enough to serve is the

characteristic of:

a).- actionability.

b).- measurability.

c).- accessibility.

d).- substantiality.