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Exam 13: Marketing: Helping Buyers Buy

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Question 131

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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. -Which of the following statements about Callie's marketing approach is most accurate?

A) Callie is basing her marketing approach on a variation of the mass marketing strategy.
B) Callie's marketing strategy appears to be consistent with several key aspects of relationship marketing.
C) Many recent studies suggest that Callie will be unable to earn a reasonable profit because she is serving too small a segment of the market rather than the entire market.
D) Callie's marketing efforts put too much emphasis on retaining existing customers and not enough on retaining new customers.

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

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Question 132

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Marketing research usually begins with secondary data because it is more accurate and more relevant than primary data. Marketers often do look at secondary data first,but not because it is more accurate and relevant.The main advantage of secondary data is that it is already published and is less expensive than primary data.

A) True
B) False

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Question 133

True/False

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Marketing research is a process that most firms complete once a year,in order to gather information for the firm's budgeting process.

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

Market segmentation is the process of dividing a market into several groups whose members have dissimilar characteristics.

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. Research can be very expensive.The decision about how much to spend obtaining market information must compare with the need for the additional information against the costs the firm must incur to obtain that information.

Why is market segmentation important? Describe three ways firms can segment consumer markets.

Which of the following is consistent with relationship marketing?

Which of the following represents an example of demographic segmentation?

By employing a relationship marketing strategy,Jocelyn found success as an entrepreneur.The goal of this strategy is to:

A test market refers to the people in a market that will be least likely to use the product or service the marketer is offering.

H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market.Although consumer response was positive to the idea of the new product,management wants to find out more before committing to full-scale production.The next step H2 O'Yeah's marketing department is likely to take is to:

The greatest marketing need firms sought during the production era was for:

Culture is difficult for marketers to integrate into their analysis of consumer wants because cultural values tend to change radically from one generation to the next. Culture is the set of values,attitudes,and ways of doing things that are transmitted from one generation to another in a given society.

Sales representatives at the HomeWork Helper Appliances Store work hard to develop a close relationship with their customers and to provide satisfaction even after the sale.These efforts by HomeWork Helper's sales personnel are part of the marketing process. Today,marketing has adopted the concept of customer relationship management.This concept calls for learning as much about customers as possible and doing everything possible to satisfy them with goods and services over time.

The purchase of a cash register is likely a B2B product.

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.

Firms adopting a relationship marketing strategy view technology as a(n) :

Marketing strategies used effectively in the business-to-business markets are exactly the same as strategies used by marketers in consumer markets.