Question 1

The ability of a good or service to satisfy a need is considered to be its

Accepted Answer

A)  benefit. 
B)  utility. 
C)  value. 
D)  market. 
E)  sociocultural environment. 
A)  benefit. 
B)  utility. 
C)  value. 
D)  market. 
E)  sociocultural environment.

Question 2

Describe the three types of competition faced by marketers.

Accepted Answer

The three types of competition faced by

Question 3

What is used to guide the detailed activities of the marketing plan ensuring the goals of the plan are accomplished?

Accepted Answer

A)  Marketing strategy 
B)  Product differentiation 
C)  Marketing objectives 
D)  Distribution policy 
E)  Marketing mix 
A)  Marketing strategy 
B)  Product differentiation 
C)  Marketing objectives 
D)  Distribution policy 
E)  Marketing mix

Question 4

How do marketers best use viral marketing?

Accepted Answer

A)  To increase use of social media networks 
B)  To identify needs in the international market 
C)  To promote public relations 
D)  To improve branding 
E)  To foster excitement for stimulating sales 
A)  To increase use of social media networks 
B)  To identify needs in the international market 
C)  To promote public relations 
D)  To improve branding 
E)  To foster excitement for stimulating sales

Question 5

Marketing managers often support the activities of political action committees (PACs). In doing this, which environment are they attempting to influence?

Accepted Answer

A)  Competitive 
B)  Economic 
C)  Technological 
D)  Political-legal 
E)  Geo-demographic 
A)  Competitive 
B)  Economic 
C)  Technological 
D)  Political-legal 
E)  Geo-demographic

Question 6

Which type of market research allows for an electronic history of consumers?

Accepted Answer

A)  Observation 
B)  Primary research 
C)  Surveys 
D)  Focus groups 
E)  Experimentation 
A)  Observation 
B)  Primary research 
C)  Surveys 
D)  Focus groups 
E)  Experimentation

Question 7

What does the process of positioning involve?

Accepted Answer

A)  Hiring only employees who have the strongest credentials 
B)  Designing a company's products to appeal to target customers 
C)  Focusing on only one component of the marketing mix 
D)  Disregarding customers' reactions to a company's products 
E)  Reorganizing employees according to seniority 
A)  Hiring only employees who have the strongest credentials 
B)  Designing a company's products to appeal to target customers 
C)  Focusing on only one component of the marketing mix 
D)  Disregarding customers' reactions to a company's products 
E)  Reorganizing employees according to seniority

Question 8

Which of the following best defines the way of living that distinguishes one large group from another?

Accepted Answer

A)  Consumer 
B)  Subculture 
C)  Social class 
D)  Culture 
E)  Demographic 
A)  Consumer 
B)  Subculture 
C)  Social class 
D)  Culture 
E)  Demographic

Question 9

What can be utilized to ensure a company's marketing and nonmarketing efforts are compatible?

Accepted Answer

A)  Market segmentation 
B)  Integrated marketing strategies 
C)  Target marketing 
D)  Public relations 
E)  Personal selling 
A)  Market segmentation 
B)  Integrated marketing strategies 
C)  Target marketing 
D)  Public relations 
E)  Personal selling

Question 10

What is the term for a detailed strategy for focusing marketing efforts on consumers' needs and wants?

Accepted Answer

A)  Marketing mix 
B)  Marketing manager 
C)  Product differentiation 
D)  Product development 
E)  Marketing plan 
A)  Marketing mix 
B)  Marketing manager 
C)  Product differentiation 
D)  Product development 
E)  Marketing plan

Question 11

Why is product placement an effective marketing tool?

Accepted Answer

Product placement is effective because t

Question 12

Discuss the three categories of B2B markets.

Accepted Answer

The three categories of B2B markets are

Question 13

What are target markets? Explain the role that target markets play in market segmentation.

Accepted Answer

Target markets are groups of people with

Question 14

Accessing a Web site in search of magazine articles about a product before its purchase is an example of what part of the consumer buying process?

Accepted Answer

A)  Post-purchase evaluation 
B)  Problem solving 
C)  Information seeking 
D)  Purchasing the product 
E)  Recognizing a need 
A)  Post-purchase evaluation 
B)  Problem solving 
C)  Information seeking 
D)  Purchasing the product 
E)  Recognizing a need

Question 15

What is the goal of market research?

Accepted Answer

A)  To identify stakeholders and how to best meet their needs 
B)  To gain goodwill with consumers by utilizing public relations 
C)  To increase competitiveness by clarifying relationships that affect the marketing decisions 
D)  To conduct studies on customer responses to the marketing mix 
E)  To determine which research method will deliver the most effective results 
A)  To identify stakeholders and how to best meet their needs 
B)  To gain goodwill with consumers by utilizing public relations 
C)  To increase competitiveness by clarifying relationships that affect the marketing decisions 
D)  To conduct studies on customer responses to the marketing mix 
E)  To determine which research method will deliver the most effective results

Question 16

What is the process where marketers can compare the response of similar people under different circumstances?

Accepted Answer

A)  Observation 
B)  Surveying 
C)  Focus group studies 
D)  Experimentation 
E)  Questionnaires 
A)  Observation 
B)  Surveying 
C)  Focus group studies 
D)  Experimentation 
E)  Questionnaires

Question 17

What is data warehousing?

Accepted Answer

A)  A marketing strategy that creates sales agreements that stipulate product delivery 
B)  The process of dividing a market into categories of customer types 
C)  The study of consumer needs and wants and the way in which sellers can best meet them 
D)  The process of collecting, storing, and retrieving data in electronic files 
E)  A customer identification strategy that targets potential buyers 
A)  A marketing strategy that creates sales agreements that stipulate product delivery 
B)  The process of dividing a market into categories of customer types 
C)  The study of consumer needs and wants and the way in which sellers can best meet them 
D)  The process of collecting, storing, and retrieving data in electronic files 
E)  A customer identification strategy that targets potential buyers

Question 18

The reseller market includes farmers, manufacturers, and some retailers.

Accepted Answer

A) True 
 B)False

Question 19

When making a purchase decision, decisions that include logical evaluation, cost, and quality are what type of decisions?

Accepted Answer

A)  Evoked 
B)  Rational 
C)  Comparison 
D)  Consideration set 
E)  Emotional 
A)  Evoked 
B)  Rational 
C)  Comparison 
D)  Consideration set 
E)  Emotional

Question 20

Which of the following is the LEAST important influence on consumer behavior?

Accepted Answer

A)  Psychological factors 
B)  Personal factors 
C)  Social factors 
D)  Technological factors 
E)  Cultural factors 
A)  Psychological factors 
B)  Personal factors 
C)  Social factors 
D)  Technological factors 
E)  Cultural factors

The ability of a good or service to satisfy a need is considered to be its

Describe the three types of competition faced by marketers.

What is used to guide the detailed activities of the marketing plan ensuring the goals of the plan are accomplished?

How do marketers best use viral marketing?

Marketing managers often support the activities of political action committees (PACs). In doing this, which environment are they attempting to influence?

Which type of market research allows for an electronic history of consumers?

What does the process of positioning involve?

Which of the following best defines the way of living that distinguishes one large group from another?

What can be utilized to ensure a company's marketing and nonmarketing efforts are compatible?

What is the term for a detailed strategy for focusing marketing efforts on consumers' needs and wants?

Why is product placement an effective marketing tool?

Discuss the three categories of B2B markets.

What are target markets? Explain the role that target markets play in market segmentation.

Accessing a Web site in search of magazine articles about a product before its purchase is an example of what part of the consumer buying process?

What is the goal of market research?

What is the process where marketers can compare the response of similar people under different circumstances?

What is data warehousing?

The reseller market includes farmers, manufacturers, and some retailers.

When making a purchase decision, decisions that include logical evaluation, cost, and quality are what type of decisions?

Which of the following is the LEAST important influence on consumer behavior?

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 11: Marketing Processes and Consumer Behavior

The ability of a good or service to satisfy a need is considered to be its

Describe the three types of competition faced by marketers.

What is used to guide the detailed activities of the marketing plan ensuring the goals of the plan are accomplished?

How do marketers best use viral marketing?

Marketing managers often support the activities of political action committees (PACs). In doing this, which environment are they attempting to influence?

Which type of market research allows for an electronic history of consumers?

What does the process of positioning involve?

Which of the following best defines the way of living that distinguishes one large group from another?

What can be utilized to ensure a company's marketing and nonmarketing efforts are compatible?

What is the term for a detailed strategy for focusing marketing efforts on consumers' needs and wants?

Why is product placement an effective marketing tool?

Discuss the three categories of B2B markets.

What are target markets? Explain the role that target markets play in market segmentation.

Accessing a Web site in search of magazine articles about a product before its purchase is an example of what part of the consumer buying process?

What is the goal of market research?

What is the process where marketers can compare the response of similar people under different circumstances?

What is data warehousing?

The reseller market includes farmers, manufacturers, and some retailers.

When making a purchase decision, decisions that include logical evaluation, cost, and quality are what type of decisions?

Which of the following is the LEAST important influence on consumer behavior?

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters