Question 1

Firms that adopt a relationship marketing strategy attempt to

Accepted Answer

A)   develop products that meet the specific requirements of individual customers.
B)   maximize their market share by designing products that appeal to large numbers of customers.
C)   develop their promotional efforts utilizing mass media such as television, newspapers, and radio in order to relate to a large audience.
D)   maximize market share by controlling production costs and maintaining low prices.

Question 2

Marketing goods and services to the B2B market relies more heavily on advertising than marketing efforts aimed toward the consumer market.

Accepted Answer

A) True 
 B)False

Question 3

Marketing is a limited activity, performed when a business is first established and when it introduces a new product to the market. Once a firm has fine-tuned its marketing activities, it can turn its attention elsewhere.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

A brand name is generally thought of as part of the product.

Accepted Answer

A) True 
 B)False

Question 7

A ________ marketing strategy develops products and promotions designed to please large groups of people.

Accepted Answer

A)   volume
B)   mass
C)   relationship
D)   value

Question 8

Which of the following would be considered part of a firm's marketing mix?

Accepted Answer

A)   Identifying the best source of funds to finance a firm's marketing activities
B)   Determining the best pricing strategy for a product
C)   Establishing a production schedule that enables the firm to meet forecasted sales
D)   Designing the most efficient production plan

Question 9

The primary focus of marketing today is on selling and advertising.

Accepted Answer

A) True 
 B)False

Question 10

In general, the broader the market a firm tries to serve, the better its chances of success.

Accepted Answer

A) True 
 B)False

Question 11

Mallory wants the celebrity life. She often changes her dress, speech, and mannerisms in response to the latest trends. She even supports the same social causes her favorite stars support. Mallory's behavior suggests that people in show business are an important reference group for her.

Accepted Answer

A) True 
 B)False

Question 12

Marketing focuses on the pricing and distribution of want-satisfying products, as well as determining the best way to promote the products to consumers.

Accepted Answer

A) True 
 B)False

Question 13

In the past, companies have designed intricate products that markets did not perceive any need for. They have aired promotional campaigns that have offended audiences. They have priced products out of reach of the target market. Marketing experts defend the importance of ________, the process of gathering all sorts of information about customers and products in order to make informed decisions about the product, price, place, and promotion.

Accepted Answer

A)   target marketing
B)   marketing research
C)   market segmentation
D)   global trekking

Question 14

Which of the following strategies provides an example of the most current era whose principles today's businesses are embracing?

Accepted Answer

A)   At TapTops International, a smart phone manufacturer, the production line is a 24-hour operation, even if demand is low.
B)   Five Star Car Sales always maintains a large stock of pre-owned cars at great prices. You can almost always get a car for about 30-40% cheaper than at another car sales company, but you buy it "as is," without any warranties.
C)   Corner Bookstore is known for stocking the top ten books on the monthly best sellers list. These books are almost always available at a reasonable cost to the bookstore, and they usually fly off the shelves. Corner Bookstore sees this as a win-win situation for themselves and their customers.
D)   Comfy Corner Hotels is all about the experience. Their goal is to make certain that every guest leaves their properties with a better feeling than when they first arrived. The CEO of Comfy Corner says, "We want you to think of our brand first when you make a hotel reservation."

Question 15

Which of the following is the best example of a market?

Accepted Answer

A)   group of high school students who are tired of cafeteria food and would like to eat lunch at an expensive restaurant located a few blocks from their campus
B)   physical facility large enough to accommodate all the people who want to buy or sell a good
C)   senior citizens willing and able to cruise to the Bahamas
D)   geographic region targeted by a firm for new promotional efforts

Question 16

Muffie's Muffler Repair finds out what customers want and then determines how to best meet their needs. Based on feedback from her customers, Muffie provides a written estimate before any work is done, offers a more comprehensive guarantee than her competitors, and calls customers after completion to make sure they are satisfied. These efforts suggest she is applying the concepts of customer relationship management.

Accepted Answer

A) True 
 B)False

Question 17

A firm's marketing mix consists of 4 major components, which are generally referred to as the four

Accepted Answer

A)   Ps.
B)   keys to success.
C)   intangibles of marketing.
D)   persuaders.

Question 18

Concept testing involves placing a product in a place where consumers will buy it.

Accepted Answer

A) True 
 B)False

Question 19

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 interest

Question 20

Luna, a marketing manager for a retailer of lighting products, will likely be involved in which of the following?

Accepted Answer

A)   setting a price for the light fixtures her firm produces
B)   deciding the best way to hire new employees to produce the lights
C)   developing ideas for new ways to produce the lights
D)   determining the best way to finance the purchase of new production equipment

Exam 13: Marketing: Helping Buyers Buy

Firms that adopt a relationship marketing strategy attempt to

Correct Answer
verified

Correct Answer
verified

A brand name is generally thought of as part of the product.

Correct Answer
verified

Which of the following is the best example of a market?

Correct Answer
verified

Marketing focuses on the pricing and distribution of want-satisfying products, as well as determining the best way to promote the products to consumers.

Correct Answer
verified

Concept testing involves placing a product in a place where consumers will buy it.

Correct Answer
verified

Marketing is a limited activity, performed when a business is first established and when it introduces a new product to the market. Once a firm has fine-tuned its marketing activities, it can turn its attention elsewhere.

Correct Answer
verified

Mallory wants the celebrity life. She often changes her dress, speech, and mannerisms in response to the latest trends. She even supports the same social causes her favorite stars support. Mallory's behavior suggests that people in show business are an important reference group for her.

Correct Answer
verified

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

Correct Answer
verified

The primary focus of marketing today is on selling and advertising.

Correct Answer
verified

Which of the following would be considered part of a firm's marketing mix?

Correct Answer
verified

Which of the following strategies provides an example of the most current era whose principles today's businesses are embracing?

Correct Answer
verified

Correct Answer
verified

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
verified

A firm's marketing mix consists of 4 major components, which are generally referred to as the four

Correct Answer
verified

Luna, a marketing manager for a retailer of lighting products, will likely be involved in which of the following?

Correct Answer
verified

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

Correct Answer
verified

Marketing goods and services to the B2B market relies more heavily on advertising than marketing efforts aimed toward the consumer market.

Correct Answer
verified

In general, the broader the market a firm tries to serve, the better its chances of success.

Correct Answer
verified

A ________ marketing strategy develops products and promotions designed to please large groups of people.

Correct Answer
verified

Exam 13: Marketing: Helping Buyers Buy

Firms that adopt a relationship marketing strategy attempt to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A brand name is generally thought of as part of the product.

Correct AnswerverifiedShow Answer

Which of the following is the best example of a market?

Correct AnswerverifiedShow Answer

Marketing focuses on the pricing and distribution of want-satisfying products, as well as determining the best way to promote the products to consumers.

Correct AnswerverifiedShow Answer

Concept testing involves placing a product in a place where consumers will buy it.

Correct AnswerverifiedShow Answer

Marketing is a limited activity, performed when a business is first established and when it introduces a new product to the market. Once a firm has fine-tuned its marketing activities, it can turn its attention elsewhere.

Correct AnswerverifiedShow Answer

Mallory wants the celebrity life. She often changes her dress, speech, and mannerisms in response to the latest trends. She even supports the same social causes her favorite stars support. Mallory's behavior suggests that people in show business are an important reference group for her.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The primary focus of marketing today is on selling and advertising.

Correct AnswerverifiedShow Answer

Which of the following would be considered part of a firm's marketing mix?

Correct AnswerverifiedShow Answer

Which of the following strategies provides an example of the most current era whose principles today's businesses are embracing?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

A firm's marketing mix consists of 4 major components, which are generally referred to as the four

Correct AnswerverifiedShow Answer

Luna, a marketing manager for a retailer of lighting products, will likely be involved in which of the following?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Marketing goods and services to the B2B market relies more heavily on advertising than marketing efforts aimed toward the consumer market.

Correct AnswerverifiedShow Answer

In general, the broader the market a firm tries to serve, the better its chances of success.

Correct AnswerverifiedShow Answer

A ________ marketing strategy develops products and promotions designed to please large groups of people.

Correct AnswerverifiedShow Answer

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