Question 1

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

Accepted Answer

A)  concept
B)  focus
C)  peer
D)  consumer interestE) B) and D)
F) B) and C)

Question 2

Mini-Case
Callie is a successful executive who is also a fitness enthusiast.For years she worked out at Big Jim's Gym,the only gym in her small hometown.However,she felt that the environment at Big Jim's was too masculine,and discovered that her female friends agreed.They disliked the small,smelly locker room,and the limited selection of aerobics equipment.Most of them eventually quit going to Big Jim's.Callie talked to Jim Nasium,the owner of Big Jim's,about things he could do to attract more women,but Jim had little interest in making any changes."I've got all the business I can handle," he told Callie."Why should I spend a bunch of money to redecorate and add extra equipment? Besides,lots of the guys who work out here tell me they like the simple,no-frills atmosphere."
Frustrated by Jim's indifference to her ideas,Callie began looking into the possibility of starting a health club to appeal to young,well-educated women.After visiting health clubs in other towns and talking to several friends to get ideas,she came up with a detailed plan for her club.She then described her ideas to women in the community to see how much interest there was in this type of facility.The extremely positive response encouraged her to go ahead with her plans.It took a while,but she ultimately obtained the financial backing to go into business.
Callie calls her new health club Curves and Shapes.It offers a spacious and attractive locker room,better aerobics equipment,a child care area so young mothers can have someone watch their toddlers while they work out,and exercise classes designed to appeal to young women.When a woman joins her health club,Callie schedules a free session with a personal trainer who works with the new member to design a personalized workout program.Callie tries hard to keep close to her customers,sending them a monthly newsletter that includes a survey asking what they like and don't like about Curves and Shapes.She wants to please her existing customers and keep them coming back.In fact,now that Curves and Shapes have a strong membership base,Callie believes it is more important to keep existing customers loyal than to attract new customers.In addition to the comments from her own customers,Callie also spends a lot of time tracking economic,social,and competitive trends in the health club industry,trying to identify factors that can affect the marketing success of her health club.She subscribes to several journals that cover trends and report on research findings related to the health club business.She has found that these journals provide her with an inexpensive source of useful information.
-The fact that Curves and Shapes is designed to appeal to women of a certain age,education and income level,means that Callie is using:

Accepted Answer

A)  demographic segmentation.
B)  psychographic segmentation.
C)  volume segmentation.
D)  geographic segmentation.E) B) and C)
F) All of the above

Question 3

The consumer market consists of all the individuals or organizations that want goods and services in order to produce other goods and services to sell,rent,or supply to others.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

Accepted Answer

A)  increase in the number of competitors servicing the target market.
B)  amount of unemployment in the target market.
C)  number of people who can use computers with proficiency.
D)  increase in the number of older Americans.E) B) and C)
F) A) and D)

Question 6

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

Accepted Answer

A)  Businesses focus on developing wants and needs in consumer markets,while firms work to satisfy the existing needs of the B2B market.
B)  Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets.
C)  Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets.
D)  Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets.E) A) and B)
F) B) and C) C

Question 7

While the four Ps help us remember the basics components of the _________,they don't have significant relevance in the marketing process.

Accepted Answer

A)  production operation
B)  marketing mix
C)  product development process
D)  competitive benchmarking processE) A) and D)
F) C) and D)

Question 8

Which of the following represents a technique used to obtain primary data?

Accepted Answer

A)  gaining access to an unpublished government report from the Federal Trade Commission
B)  conducting personal interviews with potential customers
C)  establishing a database to store and cross-index articles from leading academics and researchers
D)  reviewing the best selling trade and textbooks that present marketing principlesE) B) and C)
F) All of the above

Question 9

The process of identifying the factors that can affect marketing success is called environmental scanning.

Accepted Answer

A) True 
 B)False

Question 10

Firms that have adopted _________ seek to do more than simply sell a product;they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.

Accepted Answer

A)  nonprofit marketing
B)  customer relationship management
C)  management by objectives
D)  the marketing mixE) All of the above
F) B) and D)

Question 11

Compared to consumer markets,B2B markets:

Accepted Answer

A)  demand more promotional emphasis on radio and television in order to stimulate sales.
B)  rely less on relationship marketing.
C)  rely less on marketing intermediaries.
D)  are characterized by buyers who behave less rationally.E) A) and C)
F) None of the above

Question 12

One factor that influences the consumer decision-making process is _________,which refers to the set of values,attitudes,and ways of doing things passed from one generation to another in a given society.

Accepted Answer

A)  cognitive dissonance
B)  the legal environment
C)  group behavior
D)  cultureE) C) and D)
F) B) and D)

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

The B2B market involves fewer trades and fewer dollars spent than the consumer market because there are so many more consumers than there are businesses.

Accepted Answer

A) True 
 B)False

Question 15

A firm that uses ___________ segmentation divides a market into groups based on age,income,or level of education.

Accepted Answer

A)  demographic
B)  psychographic
C)  perceived value
D)  econometricE) None of the above
F) B) and C)

Question 16

Mucho Tacos Restaurants,Inc.is a chain of restaurants featuring authentic Mexican cuisine in seven states.The company is looking into opening restaurants in additional markets and also wants to expand and to improve its menu.Which of the following is an example of secondary data the owners of Mucho Tacos might find useful?

Accepted Answer

A)  information published by the U.S.Bureau of the Census that identifies which regions of the United States are experiencing the most rapid growth in Mexican-American population
B)  a telephone survey by the marketing department of Mucho Tacos asking for opinions about the quality of the food at the restaurants
C)  a focus group of teenagers who like Mexican food who are asked about their reactions to new food dishes the restaurant may offer
D)  e-mail responses the chain receives to a series of customer satisfaction questions posted on its websiteE) A) and B)
F) B) and C)

Question 17

After years of using a mass marketing strategy,Digital Print Shops has responded to new competition from national chain stores by focusing on small market segments that have been ignored by their larger competitors.Digital believes that by offering these market segments personalized customer services it can attract a loyal group of customers willing to pay premium prices.Digital's strategy to improve profits is known as:

Accepted Answer

A)  environmental scanning.
B)  niche marketing.
C)  micro-marketing.
D)  respondent change.E) B) and C)
F) None of the above

Question 18

A firm that uses __________ segmentation divides a market into groups based on values,attitudes,or interests.

Accepted Answer

A)  demographic
B)  benefit
C)  psychographic
D)  normativeE) None of the above
F) A) and B)

Question 19

The goal of __________ is to keep individual customers over time by offering them new products that exactly meet their requirements.

Accepted Answer

A)  niche marketing
B)  mass marketing
C)  relationship marketing
D)  segment marketingE) A) and C)
F) C) and D) C

Question 20

The main concern of the marketing mix is to please firm's stockholders.

Accepted Answer

A) True 
 B)False  False

Exam 13: Marketing: Helping Buyers Buy

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

Correct Answer
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Correct Answer
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The consumer market consists of all the individuals or organizations that want goods and services in order to produce other goods and services to sell,rent,or supply to others.

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

Correct Answer
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One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

Correct Answer
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Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

Correct Answer
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C

While the four Ps help us remember the basics components of the _________,they don't have significant relevance in the marketing process.

Correct Answer
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Which of the following represents a technique used to obtain primary data?

Correct Answer
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The process of identifying the factors that can affect marketing success is called environmental scanning.

Correct Answer
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Firms that have adopted _________ seek to do more than simply sell a product;they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.

Correct Answer
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Compared to consumer markets,B2B markets:

Correct Answer
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One factor that influences the consumer decision-making process is _________,which refers to the set of values,attitudes,and ways of doing things passed from one generation to another in a given society.

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

Correct Answer
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The B2B market involves fewer trades and fewer dollars spent than the consumer market because there are so many more consumers than there are businesses.

Correct Answer
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A firm that uses ___________ segmentation divides a market into groups based on age,income,or level of education.

Correct Answer
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A firm that uses __________ segmentation divides a market into groups based on values,attitudes,or interests.

Correct Answer
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The goal of __________ is to keep individual customers over time by offering them new products that exactly meet their requirements.

Correct Answer
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C

The main concern of the marketing mix is to please firm's stockholders.

Correct Answer
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False

Exam 13: Marketing: Helping Buyers Buy

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The consumer market consists of all the individuals or organizations that want goods and services in order to produce other goods and services to sell,rent,or supply to others.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

Correct AnswerverifiedShow Answer

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

Correct AnswerverifiedC

While the four Ps help us remember the basics components of the _________,they don't have significant relevance in the marketing process.

Correct AnswerverifiedShow Answer

Which of the following represents a technique used to obtain primary data?

Correct AnswerverifiedShow Answer

The process of identifying the factors that can affect marketing success is called environmental scanning.

Correct AnswerverifiedShow Answer

Firms that have adopted _________ seek to do more than simply sell a product;they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.

Correct AnswerverifiedShow Answer

Compared to consumer markets,B2B markets:

Correct AnswerverifiedShow Answer

One factor that influences the consumer decision-making process is _________,which refers to the set of values,attitudes,and ways of doing things passed from one generation to another in a given society.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The B2B market involves fewer trades and fewer dollars spent than the consumer market because there are so many more consumers than there are businesses.

Correct AnswerverifiedShow Answer

A firm that uses ___________ segmentation divides a market into groups based on age,income,or level of education.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A firm that uses __________ segmentation divides a market into groups based on values,attitudes,or interests.

Correct AnswerverifiedShow Answer

The goal of __________ is to keep individual customers over time by offering them new products that exactly meet their requirements.

Correct AnswerverifiedC

The main concern of the marketing mix is to please firm's stockholders.

Correct AnswerverifiedFalse

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C

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C

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False