Question 1

In the consumer decision-making process, the ________ stage focuses on how consumers make decisions.

Accepted Answer

A)  analysis 
B)  evaluation 
C)  input 
D)  process 
E)  output 
A)  analysis 
B)  evaluation 
C)  input 
D)  process 
E)  output

Question 2

$\text{CAR MINI CASE}$: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case. He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture. In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers.
-In the CAR MINI CASE, by offering a variety of cars to choose from, General Motors was able to differentiate itself from Ford by demonstrating to consumers that it could offer ________.

Accepted Answer

A)  organizational buying power 
B)  compelling consumer research 
C)  an effective marketing mix 
D)  a unique selling proposition 
E)  significantly lower prices 
A)  organizational buying power 
B)  compelling consumer research 
C)  an effective marketing mix 
D)  a unique selling proposition 
E)  significantly lower prices

Question 3

Marketing-oriented companies try to persuade consumers to buy what the firm has already produced, regardless of whether those goods satisfy consumers' needs.

Accepted Answer

A) True 
 B)False

Question 4

The primary objective of providing value to customers continuously and more effectively than the competition is ________.

Accepted Answer

A)  to monopolize the market 
B)  to produce a compelling advertising message 
C)  to help recruit a dedicated workforce 
D)  to avoid government regulation of the industry 
E)  to create and to retain highly satisfied customers 
A)  to monopolize the market 
B)  to produce a compelling advertising message 
C)  to help recruit a dedicated workforce 
D)  to avoid government regulation of the industry 
E)  to create and to retain highly satisfied customers

Question 5

The selling concept focuses on the needs of the ________ and on existing products, while the marketing concept focuses on the needs of the ________.

Accepted Answer

A)  manufacturer; seller 
B)  buyer; manufacturer 
C)  seller; buyer 
D)  seller; manufacturer 
E)  buyer; seller 
A)  manufacturer; seller 
B)  buyer; manufacturer 
C)  seller; buyer 
D)  seller; manufacturer 
E)  buyer; seller

Question 6

Of the four Ps of the marketing mix, place includes ________.

Accepted Answer

A)  discounts 
B)  public relations 
C)  warranties 
D)  distribution centers 
E)  packaging 
A)  discounts 
B)  public relations 
C)  warranties 
D)  distribution centers 
E)  packaging

Question 7

Kevin's company owns a factory that can produce 1,000 widgets per week. His primary focus is on getting consumers to purchase as many widgets as possible to ensure that he is maximizing his sales relative to his production capacity. Kevin's business is exhibiting the ________.

Accepted Answer

A)  marketing concept 
B)  product concept 
C)  not-for-profit concept 
D)  selling concept 
E)  market orientation 
A)  marketing concept 
B)  product concept 
C)  not-for-profit concept 
D)  selling concept 
E)  market orientation

Question 8

The selling concept does not consider customer satisfaction because consumers who are aggressively induced to buy products they do not want or need will not buy them again.

Accepted Answer

A) True 
 B)False

Question 9

Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect ________.

Accepted Answer

A)  market segmentation 
B)  the value proposition 
C)  customer satisfaction 
D)  the corporate vision 
E)  the market targeting 
A)  market segmentation 
B)  the value proposition 
C)  customer satisfaction 
D)  the corporate vision 
E)  the market targeting

Question 10

$\text{RYAN'S RUNNERS MINI CASE}$: Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner.
-In the RYAN'S RUNNERS MINI CASE, which of the following is most likely to represent the unique selling proposition at Ryan's Runners?

Accepted Answer

A)  Ryan's Runners offers the widest selection of athletic shoes in town. 
B)  Ryan's Runners is the price leader in running gear. 
C)  At Ryan's Runners, runners can find high quality products and get recommendations from employees who share their passion for running. 
D)  Ryan's Runners is a place where all athletes can find all the equipment they need for the sport of their interest. 
E)  all of the above 
A)  Ryan's Runners offers the widest selection of athletic shoes in town. 
B)  Ryan's Runners is the price leader in running gear. 
C)  At Ryan's Runners, runners can find high quality products and get recommendations from employees who share their passion for running. 
D)  Ryan's Runners is a place where all athletes can find all the equipment they need for the sport of their interest. 
E)  all of the above

Question 11

The production concept makes sense for a business when ________.

Accepted Answer

A)  consumers are more interested in product availability than in product variation 
B)  consumers are interested in obtaining the product that offers them the highest quality, best performance, and most features 
C)  consumers have changing needs and insist that those needs be satisfied 
D)  consumers are unlikely to buy the product unless they are persuaded to do so 
E)  consumers are not sensitive to price 
A)  consumers are more interested in product availability than in product variation 
B)  consumers are interested in obtaining the product that offers them the highest quality, best performance, and most features 
C)  consumers have changing needs and insist that those needs be satisfied 
D)  consumers are unlikely to buy the product unless they are persuaded to do so 
E)  consumers are not sensitive to price

Question 12

The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.

Accepted Answer

A) True 
 B)False

Question 13

Imagine you are training a marketing intern on how your company, which markets athletic footwear, uses market segmentation, target marketing and positioning. Explain what each is and provide an example.

Accepted Answer

Market segmentation is the process of di

Question 14

Companies that focus on understanding customers are able to continue to grow and remain leaders in their industries in spite of increased competition and changing business environments.

Accepted Answer

A) True 
 B)False

Question 15

The ________ concept in business assumes that consumers are mostly interested in product availability at low prices.

Accepted Answer

A)  marketing 
B)  societal 
C)  product 
D)  production 
E)  technology 
A)  marketing 
B)  societal 
C)  product 
D)  production 
E)  technology

Question 16

Transatlantic Airlines identifies the most profitable customers and offers them specific incentives, a practice known as ________.

Accepted Answer

A)  social marketing 
B)  customer profitability-focused marketing 
C)  market targeting 
D)  market segmentation 
E)  product positioning 
A)  social marketing 
B)  customer profitability-focused marketing 
C)  market targeting 
D)  market segmentation 
E)  product positioning

Question 17

$\text{AIRLINE MINI CASE:}$ Transatlantic Airlines flies between popular destinations in the United States and western Europe, and claims to deliver "a first class experience for every passenger." All ticket purchases are made online, and users of the Transatlantic website must register before they search for flights. Transatlantic uses this information to determine which consumers are generating the most profits for the company, which services they purchase most frequently, and which services they are potentially interested in but are not purchasing. This information is then used to make specific promotional offers to profitable customers in an attempt to retain their business and to expand the range of flight services that they purchase. Transatlantic also uses this information to provide unexpected perks to highly profitable customers, like free upgrades to first class.
-In the AIRLINE MINI CASE, when Transatlantic upgrades the seat assignment of especially loyal customers, the airline is attempting to increase ________.

Accepted Answer

A)  net revenue 
B)  production capacity 
C)  customer satisfaction 
D)  social responsibility 
E)  profit margins 
A)  net revenue 
B)  production capacity 
C)  customer satisfaction 
D)  social responsibility 
E)  profit margins

Question 18

Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the merchant's ability to match purchase recommendations to one's needs and customize products and advertisements so the customer feels unique and valued?

Accepted Answer

A)  trust 
B)  engagement 
C)  network 
D)  interactivity 
E)  adaptation 
A)  trust 
B)  engagement 
C)  network 
D)  interactivity 
E)  adaptation

Question 19

Which of the following is NOT one of the benefits of retaining loyal customers?

Accepted Answer

A)  Loyal customers are more likely to purchase high margin supplemental products. 
B)  Loyal customers are more price-sensitive. 
C)  It is less expensive to service existing customers. 
D)  Loyal customer refer other customers and engage in positive word-of-mouth. 
E)  Loyal customers make employees' jobs easier and more satisfying. 
A)  Loyal customers are more likely to purchase high margin supplemental products. 
B)  Loyal customers are more price-sensitive. 
C)  It is less expensive to service existing customers. 
D)  Loyal customer refer other customers and engage in positive word-of-mouth. 
E)  Loyal customers make employees' jobs easier and more satisfying.

Question 20

The process of dividing a market into subsets of consumers with common needs or characteristics is known as ________.

Accepted Answer

A)  market targeting 
B)  ethical marketing 
C)  product positioning 
D)  market segmentation 
E)  market stewardship 
A)  market targeting 
B)  ethical marketing 
C)  product positioning 
D)  market segmentation 
E)  market stewardship

In the consumer decision-making process, the ________ stage focuses on how consumers make decisions.

Marketing-oriented companies try to persuade consumers to buy what the firm has already produced, regardless of whether those goods satisfy consumers' needs.

The primary objective of providing value to customers continuously and more effectively than the competition is ________.

The selling concept focuses on the needs of the and on existing products, while the marketing concept focuses on the needs of the .

Of the four Ps of the marketing mix, place includes ________.

Kevin's company owns a factory that can produce 1,000 widgets per week. His primary focus is on getting consumers to purchase as many widgets as possible to ensure that he is maximizing his sales relative to his production capacity. Kevin's business is exhibiting the ________.

The selling concept does not consider customer satisfaction because consumers who are aggressively induced to buy products they do not want or need will not buy them again.

Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect ________.

The production concept makes sense for a business when ________.

The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.

Imagine you are training a marketing intern on how your company, which markets athletic footwear, uses market segmentation, target marketing and positioning. Explain what each is and provide an example.

Companies that focus on understanding customers are able to continue to grow and remain leaders in their industries in spite of increased competition and changing business environments.

The ________ concept in business assumes that consumers are mostly interested in product availability at low prices.

Transatlantic Airlines identifies the most profitable customers and offers them specific incentives, a practice known as ________.

Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the merchant's ability to match purchase recommendations to one's needs and customize products and advertisements so the customer feels unique and valued?

Which of the following is NOT one of the benefits of retaining loyal customers?

The process of dividing a market into subsets of consumers with common needs or characteristics is known as ________.

Segmentation, Targeting and Positioning

Consumer Motivation and Personality

Consumer Perception

Consumer Learning

Consumer Attitude Formation and Change

Persuading Customers

From Print and Broadcast to Social Media and Mobile Advertising

Reference Groups and Word-of-Mouth

The Family and Its Social Class Standing

Culture's Influence on Consumer Behavior

Subcultures and Consumer Behavior

Cross-Cultural Consumer Behavior: An International Perspective

Consumer Decision Making and Diffusion of Innovations

Marketing Ethics and Social Responsibility

Consumer Research

Filters

Exam 1: Consumer Behavior: Information-Driven Consumer Behavior

In the consumer decision-making process, the ________ stage focuses on how consumers make decisions.

Marketing-oriented companies try to persuade consumers to buy what the firm has already produced, regardless of whether those goods satisfy consumers' needs.

The primary objective of providing value to customers continuously and more effectively than the competition is ________.

The selling concept focuses on the needs of the ________ and on existing products, while the marketing concept focuses on the needs of the ________.

Of the four Ps of the marketing mix, place includes ________.

Kevin's company owns a factory that can produce 1,000 widgets per week. His primary focus is on getting consumers to purchase as many widgets as possible to ensure that he is maximizing his sales relative to his production capacity. Kevin's business is exhibiting the ________.

The selling concept does not consider customer satisfaction because consumers who are aggressively induced to buy products they do not want or need will not buy them again.

Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect ________.

The production concept makes sense for a business when ________.

The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.

Imagine you are training a marketing intern on how your company, which markets athletic footwear, uses market segmentation, target marketing and positioning. Explain what each is and provide an example.

Companies that focus on understanding customers are able to continue to grow and remain leaders in their industries in spite of increased competition and changing business environments.

The ________ concept in business assumes that consumers are mostly interested in product availability at low prices.

Transatlantic Airlines identifies the most profitable customers and offers them specific incentives, a practice known as ________.

Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the merchant's ability to match purchase recommendations to one's needs and customize products and advertisements so the customer feels unique and valued?

Which of the following is NOT one of the benefits of retaining loyal customers?

The process of dividing a market into subsets of consumers with common needs or characteristics is known as ________.

Segmentation, Targeting and Positioning

Consumer Motivation and Personality

Consumer Perception

Consumer Learning

Consumer Attitude Formation and Change

Persuading Customers

From Print and Broadcast to Social Media and Mobile Advertising

Reference Groups and Word-of-Mouth

The Family and Its Social Class Standing

Culture's Influence on Consumer Behavior

Subcultures and Consumer Behavior

Cross-Cultural Consumer Behavior: An International Perspective

Consumer Decision Making and Diffusion of Innovations

Marketing Ethics and Social Responsibility

Consumer Research

Filters

The selling concept focuses on the needs of the and on existing products, while the marketing concept focuses on the needs of the .