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Exam 13: Marketing: Helping Buyers Buy

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Question 81

True/False

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A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

A) True
B) False

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Question 82

Multiple Choice

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A key element of customer relationship management is to:

A) keep the price of goods as low as possible.
B) develop a strategy to achieve the largest possible market share.
C) allow customers to participate in the management decisions of the firm.
D) learn as much as possible about customers.

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

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Question 83

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__________ marketing is the marketing of products to groups of customers a firm decides it can serve profitably.

Which of the following statements about the B2B market is true?

Marketing is different in B2B markets than in consumer markets. Identify and explain three differences between the business-to-business market and the consumer market.

The marketing manager's job is to design a program that effectively combines the ingredients of the marketing mix.

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

Target marketing is a business strategy that focuses a firm's marketing efforts toward a potentially profitable segment of a larger market.

During the early 1900s, businesses emphasized learning as much as possible about their customers and doing everything to satisfy them.

The most important technological change likely to affect the marketing success of many firms is the:

La Shawna is fascinated by celebrities. She often changes her dress, speech, and mannerisms in response to the latest trends in Hollywood. When big name stars publicly support a social cause, she tends to support it as well. La Shawna's behavior suggests that people in show business are an important reference group for her.

As the campaign manager for a candidate for the U.S. Senate, Pete works to learn as much as possible about potential voters. With this information, he hopes to focus the campaign on the issues most important to voters. This represents:

Compared to consumer markets, B2B markets:

Whenever available, marketers should rely exclusively on primary data because it is much more accurate than secondary data.

Demographic segmentation divides a market into segments based on the customer's location.

For safety's sake, an organization should produce as many products as possible since customers are not a good source of informing the organization what they want to buy.

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.

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

__________ marketers include manufacturers, intermediaries, institutions, and the government.

A widely used technique commonly used for collecting primary data is: