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Exam 13: Marketing: Helping Buyers Buy

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Question 41

Multiple Choice

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Consumer decisions regarding the products they buy are often influenced by their nationality, religion, or ethnic origin. Marketers realize that the consumer decision-making process is impacted by the consumers'

A) subcultures.
B) four Ps.
C) cognitive behaviors.
D) market position.

E) B) and C)
F) All of the above

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Question 42

Multiple Choice

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________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

A) Selling
B) Advertising
C) Marketing
D) Mixing markets

E) All of the above
F) B) and C)

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Question 43

Multiple Choice

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Which of the following describes a process in which marketers present an accurate description of a new product to potential customers and ask if they find the idea appealing?

Which of the following statements is most consistent with today's views on effective marketing?

Firms adopting a relationship marketing strategy view technology and social media as a(n)

Because accurate and timely market information is vital to a firm's success, businesses should budget whatever it takes to get the best data available.

The purpose of market segmentation is to identify the features of a product that will appeal to as many customers as possible.

Exploring ________ data first helps marketers minimize marketing research costs.

Contacting customers after a sale to reassure them that they made the right decision is intended to offset

Unlike advertising, which is part of the promotional component of the marketing mix, personal selling is considered to be part of the distribution function.

Marketers are concerned with selling goods and services, and therefore are not involved in designing the products their firm will sell.

Because consumers differ in age, education, income, and tastes, companies will be more likely to succeed if they target a segment of a market and develop goods and services specially tailored to that group.

The two major types of markets in business are the consumer market and the government market.

________ consists of information that has already been researched by others and is published in journals or books, or has been made available online.

The final step of the marketing research process involves selecting from several alternative strategies, and performing follow-up research to see if results were as expected.

Environmental scanning is a green concept that involves the tracking of pollution generated by a firm and its impact on society.

A focus group consists of a small group of people who meet, under the direction of a discussion leader, to communicate their opinions about an organization, its products, or other issues.

With careful attention to controlling costs and quality, businesses can successfully satisfy consumers with a standardized product for different markets.

The four elements of the marketing mix are product, production, price, and predictability.

The business philosophy of "produce as much as you can because there is a limitless market" is consistent with which of the following marketing eras?