Question 1

Benefits add value by providing features that increase the customer's satisfaction.

Accepted Answer

A) True 
 B)False

Question 2

How does a realistic market potential estimate affect small business success?

Accepted Answer

A)  It allows small business owners to know how to modify a product for consumers. 
B)  It allows small business owners to have a clear picture of their target segments. 
C)  It allows for better use of social media based marketing efforts. 
D)  It increases the ability to be flexible in pricing strategy. 
E)  It provides a more accurate understanding of fixed and variable costs. 
A)  It allows small business owners to know how to modify a product for consumers. 
B)  It allows small business owners to have a clear picture of their target segments. 
C)  It allows for better use of social media based marketing efforts. 
D)  It increases the ability to be flexible in pricing strategy. 
E)  It provides a more accurate understanding of fixed and variable costs.

Question 3

What specific issues do marketing strategies help marketers determine?

Accepted Answer

A)  The goals the marketing plan intends to accomplish 
B)  The marketing objectives of what marketer will accomplish 
C)  The mix of goods or services to fill a customer's needs or wants 
D)  The marketing activities a business will use to achieve marketing goals 
E)  The features that will differentiate a product from competitors 
A)  The goals the marketing plan intends to accomplish 
B)  The marketing objectives of what marketer will accomplish 
C)  The mix of goods or services to fill a customer's needs or wants 
D)  The marketing activities a business will use to achieve marketing goals 
E)  The features that will differentiate a product from competitors

Question 4

How does behavioral segmentation identify target markets?

Accepted Answer

A)  Behavioral variables 
B)  Demographics 
C)  Marketing research 
D)  Geographics 
E)  Psychographics 
A)  Behavioral variables 
B)  Demographics 
C)  Marketing research 
D)  Geographics 
E)  Psychographics

Question 5

A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to?

Accepted Answer

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

Question 6

How can marketers best develop product promotion in a new, international market?

Accepted Answer

A)  Centered on product usage 
B)  Centered on price and innovation 
C)  Centered on cultural values and local customs 
D)  Centered on using a "hard-sell" campaign 
E)  Centered on home country values and customs 
A)  Centered on product usage 
B)  Centered on price and innovation 
C)  Centered on cultural values and local customs 
D)  Centered on using a "hard-sell" campaign 
E)  Centered on home country values and customs

Question 7

Why is product development a challenge for marketers?

Accepted Answer

Faced with competition and shifting cons

Question 8

What would marketers utilize if they wanted to identify markets where customers had a certain lifestyle, personality, or attitude?

Accepted Answer

A)  Place utility 
B)  Geographic segmentation 
C)  Psychographic segmentation 
D)  Possession utility 
E)  Behavioral segmentation 
A)  Place utility 
B)  Geographic segmentation 
C)  Psychographic segmentation 
D)  Possession utility 
E)  Behavioral segmentation

Question 9

What type of segmentation is more effective because of the greater number of variables and has consequently become the most common segmentation tool?

Accepted Answer

A)  Demographic segmentation 
B)  Psychographic segmentation 
C)  Behavioral segmentation 
D)  Marketing segmentation 
E)  Geo-demographic segmentation 
A)  Demographic segmentation 
B)  Psychographic segmentation 
C)  Behavioral segmentation 
D)  Marketing segmentation 
E)  Geo-demographic segmentation

Question 10

Which tool used for gaining decision-making information identifies what customers want and how to fulfill those wants?

Accepted Answer

A)  Market segmentation 
B)  Market research 
C)  Promotion 
D)  Public relations 
E)  Integrated marketing strategy 
A)  Market segmentation 
B)  Market research 
C)  Promotion 
D)  Public relations 
E)  Integrated marketing strategy

Question 11

Time utility is created by a sales agreement that stipulates where products will be delivered to customers.

Accepted Answer

A) True 
 B)False

Question 12

What type of behavior do consumers exhibit by regularly purchasing products because they are satisfied with the performance of the product?

Accepted Answer

A)  Psychological influences 
B)  Need recognition 
C)  Brand loyalty 
D)  Emotional motives 
E)  Consumer activism 
A)  Psychological influences 
B)  Need recognition 
C)  Brand loyalty 
D)  Emotional motives 
E)  Consumer activism

Question 13

What are the tangible products bought strictly for personal use?

Accepted Answer

A)  Consumer goods 
B)  Services 
C)  Relationship goods 
D)  Data 
E)  Industrial goods 
A)  Consumer goods 
B)  Services 
C)  Relationship goods 
D)  Data 
E)  Industrial goods

Question 14

Which of the following is used to automate the analysis of customer information and how might they be influenced by marketers?

Accepted Answer

A)  Data mining 
B)  Brand competition 
C)  Customer relationship management 
D)  Relationship marketing 
E)  Data warehousing 
A)  Data mining 
B)  Brand competition 
C)  Customer relationship management 
D)  Relationship marketing 
E)  Data warehousing

Question 15

What type of goods includes raw materials used to produce other products?

Accepted Answer

A)  Substitute products 
B)  Industrial goods 
C)  Consumer goods 
D)  Marketing goods 
E)  Disposable goods 
A)  Substitute products 
B)  Industrial goods 
C)  Consumer goods 
D)  Marketing goods 
E)  Disposable goods

Question 16

If a buyer is unhappy with their purchase decision, what are they more likely to do than those who are happy with their purchase decision?

Accepted Answer

A)  Use a different decision-making process. 
B)  Continue to purchase the same product until a replacement is found. 
C)  Tell others. 
D)  Rely more on rational motives. 
E)  Develop a more limited evoked set of purchase options. 
A)  Use a different decision-making process. 
B)  Continue to purchase the same product until a replacement is found. 
C)  Tell others. 
D)  Rely more on rational motives. 
E)  Develop a more limited evoked set of purchase options.

Question 17

What is the name for the influences that include the "way of living" that distinguishes one large group from another?

Accepted Answer

A)  Psychological 
B)  Personal 
C)  Social 
D)  Domestic 
E)  Cultural 
A)  Psychological 
B)  Personal 
C)  Social 
D)  Domestic 
E)  Cultural

Question 18

B2B sellers rarely have long-term relationships with buyers.

Accepted Answer

A) True 
 B)False

Question 19

What is the advantage of utilizing focus groups for research?

Accepted Answer

A)  They easily generate comparison data with competitors' products. 
B)  They offer fact based information on products. 
C)  They are more structured and are easier to analyze. 
D)  They allow for more in-depth discussion on complex issues. 
E)  They are less costly and time consuming. 
A)  They easily generate comparison data with competitors' products. 
B)  They offer fact based information on products. 
C)  They are more structured and are easier to analyze. 
D)  They allow for more in-depth discussion on complex issues. 
E)  They are less costly and time consuming.

Question 20

Identify the ways small businesses can benefit from an understanding of the marketing mix.

Accepted Answer

Small businesses need to understand the

Benefits add value by providing features that increase the customer's satisfaction.

How does a realistic market potential estimate affect small business success?

What specific issues do marketing strategies help marketers determine?

How does behavioral segmentation identify target markets?

A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to?

How can marketers best develop product promotion in a new, international market?

Why is product development a challenge for marketers?

What would marketers utilize if they wanted to identify markets where customers had a certain lifestyle, personality, or attitude?

What type of segmentation is more effective because of the greater number of variables and has consequently become the most common segmentation tool?

Which tool used for gaining decision-making information identifies what customers want and how to fulfill those wants?

Time utility is created by a sales agreement that stipulates where products will be delivered to customers.

What type of behavior do consumers exhibit by regularly purchasing products because they are satisfied with the performance of the product?

What are the tangible products bought strictly for personal use?

Which of the following is used to automate the analysis of customer information and how might they be influenced by marketers?

What type of goods includes raw materials used to produce other products?

If a buyer is unhappy with their purchase decision, what are they more likely to do than those who are happy with their purchase decision?

What is the name for the influences that include the "way of living" that distinguishes one large group from another?

B2B sellers rarely have long-term relationships with buyers.

What is the advantage of utilizing focus groups for research?

Identify the ways small businesses can benefit from an understanding of the marketing mix.

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

Benefits add value by providing features that increase the customer's satisfaction.

How does a realistic market potential estimate affect small business success?

What specific issues do marketing strategies help marketers determine?

How does behavioral segmentation identify target markets?

A company decides to introduce a line of crackers made with organically grown grains and vegetables. What environmental trend is the company responding to?

How can marketers best develop product promotion in a new, international market?

Why is product development a challenge for marketers?

What would marketers utilize if they wanted to identify markets where customers had a certain lifestyle, personality, or attitude?

What type of segmentation is more effective because of the greater number of variables and has consequently become the most common segmentation tool?

Which tool used for gaining decision-making information identifies what customers want and how to fulfill those wants?

Time utility is created by a sales agreement that stipulates where products will be delivered to customers.

What type of behavior do consumers exhibit by regularly purchasing products because they are satisfied with the performance of the product?

What are the tangible products bought strictly for personal use?

Which of the following is used to automate the analysis of customer information and how might they be influenced by marketers?

What type of goods includes raw materials used to produce other products?

If a buyer is unhappy with their purchase decision, what are they more likely to do than those who are happy with their purchase decision?

What is the name for the influences that include the "way of living" that distinguishes one large group from another?

B2B sellers rarely have long-term relationships with buyers.

What is the advantage of utilizing focus groups for research?

Identify the ways small businesses can benefit from an understanding of the marketing mix.

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