Question 1

________ refers to the categorization of customers according to their relationship with products or response to product characteristics.

Accepted Answer

A)  Demographic segmentation 
B)  Geographic segmentation 
C)  Ethnographic segmentation 
D)  Psychographic segmentation 
E)  Behavioral segmentation 
A)  Demographic segmentation 
B)  Geographic segmentation 
C)  Ethnographic segmentation 
D)  Psychographic segmentation 
E)  Behavioral segmentation

Question 2

Grouping customers with similar characteristics,behaviors,and needs is known as ________.

Accepted Answer

A)  a marketing mix 
B)  market development 
C)  social commerce 
D)  market segmentation 
E)  market penetration 
A)  a marketing mix 
B)  market development 
C)  social commerce 
D)  market segmentation 
E)  market penetration

Question 3

________ utility is the benefit provided by making the company's products available where customers want to purchase them.

Accepted Answer

A)  Form 
B)  Possession 
C)  Value 
D)  Place 
E)  Time 
A)  Form 
B)  Possession 
C)  Value 
D)  Place 
E)  Time

Question 4

The U.S.Federal Trade Commission (FTC)and the Word of Mouth Marketing Association assert that stealth marketing techniques are deceptive because they don't give their targets the opportunity to raise their instinctive defenses against the persuasive powers of marketing messages.

Accepted Answer

A) True 
 B)False

Question 5

A developing country markets itself as a good destination of foreign investment.This would be an example of place marketing.

Accepted Answer

A) True 
 B)False

Question 6

Concentrated marketing is the narrowest strategy of all market-coverage strategies,in which firms target a single location or even a single customer.

Accepted Answer

A) True 
 B)False

Question 7

An e-commerce website allows visitors to sign up for specific content streams with the promise that they won't be bombarded with information they don't care about.This is an example of ________.

Accepted Answer

A)  stealth marketing 
B)  social commerce 
C)  permission-based marketing 
D)  market development 
E)  cause-related marketing 
A)  stealth marketing 
B)  social commerce 
C)  permission-based marketing 
D)  market development 
E)  cause-related marketing

Question 8

The study of the statistical characteristics of a population is called ________.

Accepted Answer

A)  demographics 
B)  psychographics 
C)  behavioral segmentation 
D)  anthropology 
E)  ethnographic research 
A)  demographics 
B)  psychographics 
C)  behavioral segmentation 
D)  anthropology 
E)  ethnographic research

Question 9

Which of the following statements is true about the marketing concept?

Accepted Answer

A)  It views the customer only as a target to be sold to. 
B)  It views the primary purpose of a business as making things. 
C)  It believes in building short-term relationships with customers. 
D)  It refers to the view that companies should respond to customers' needs. 
E)  It counts on customers to figure out which products they need and take the steps to find and purchase them. 
A)  It views the customer only as a target to be sold to. 
B)  It views the primary purpose of a business as making things. 
C)  It believes in building short-term relationships with customers. 
D)  It refers to the view that companies should respond to customers' needs. 
E)  It counts on customers to figure out which products they need and take the steps to find and purchase them.

Question 10

Eight women,with children within the age range of 3 to 7 years,participated in a panel discussion conducted by the marketing department of Ecospace Beach Resorts,based in California.The facilitator asked the women what amenities they wanted in a resort when they go on a vacation.They were also asked to discuss which facilities made a resort more convenient for people with young children.In this example,Ecospace Beach Resorts uses which of the following methods?

Accepted Answer

A)  survey 
B)  ethnographic research study 
C)  focus group 
D)  process data collection 
E)  neuromarketing study 
A)  survey 
B)  ethnographic research study 
C)  focus group 
D)  process data collection 
E)  neuromarketing study

Question 11

A research technique that measures the brain activity of customers while they are viewing or interacting with your company's products or brands is known as ________.

Accepted Answer

A)  neuromarketing studies 
B)  experiments 
C)  psychoanalysis 
D)  transactional analysis 
E)  focus groups 
A)  neuromarketing studies 
B)  experiments 
C)  psychoanalysis 
D)  transactional analysis 
E)  focus groups

Question 12

Market share can be defined by either number of units sold or by sales revenue.

Accepted Answer

A) True 
 B)False

Question 13

Bell & Rubio,a camera manufacturing company,hires actors in different cities to approach strangers and ask them to take their picture with a Bell & Rubio camera.The actors strike up conversations with people,tell them about the advantages of the camera,and encourage them to buy one for themselves without informing them that it's an advertising campaign.In this example,Bell & Rubio uses which of the following strategies?

Accepted Answer

A)  social commerce 
B)  data mining 
C)  permission-based marketing 
D)  stealth marketing 
E)  projective techniques 
A)  social commerce 
B)  data mining 
C)  permission-based marketing 
D)  stealth marketing 
E)  projective techniques

Question 14

What is market segmentation.List the four fundamental factors marketers use to identify market segments.

Accepted Answer

Market segmentation refers to the divisi

Question 15

At one time or another,all consumers suffer from cognitive dissonance.

Accepted Answer

A) True 
 B)False

Question 16

The sales concept is an approach to business management that stresses customer needs and wants,seeks long-term profitability,and integrates marketing with other functional units within the organization.

Accepted Answer

A) True 
 B)False

Question 17

________ classifies people by focusing on why they behave the way they do by examining such issues as brand preferences,media preferences,values,attitudes,self-concept,and opinions.

Accepted Answer

A)  Social commerce 
B)  Demographics 
C)  Geographic segmentation 
D)  Psychographics 
E)  Market penetration 
A)  Social commerce 
B)  Demographics 
C)  Geographic segmentation 
D)  Psychographics 
E)  Market penetration

Question 18

Unlike surveys,focus groups ________.

Accepted Answer

A)  require knowledge of statistical techniques 
B)  are not designed to collect statistics that represent a larger group 
C)  fail to uncover issues that might require further study 
D)  are not used to probe deeper into issues 
E)  study people in their daily lives to learn about their needs, wants, and behaviors in real-life settings 
A)  require knowledge of statistical techniques 
B)  are not designed to collect statistics that represent a larger group 
C)  fail to uncover issues that might require further study 
D)  are not used to probe deeper into issues 
E)  study people in their daily lives to learn about their needs, wants, and behaviors in real-life settings

Question 19

Buyer's remorse,in which one makes a purchase and then regrets doing so,is an example of ________.

Accepted Answer

A)  anchoring 
B)  hindsight bias 
C)  self-serving bias 
D)  fundamental attribution error 
E)  cognitive dissonance 
A)  anchoring 
B)  hindsight bias 
C)  self-serving bias 
D)  fundamental attribution error 
E)  cognitive dissonance

Question 20

What are the steps involved in strategic marketing planning?

Accepted Answer

Strategic marketing planning involves th

________ refers to the categorization of customers according to their relationship with products or response to product characteristics.

Grouping customers with similar characteristics,behaviors,and needs is known as ________.

________ utility is the benefit provided by making the company's products available where customers want to purchase them.

The U.S.Federal Trade Commission (FTC)and the Word of Mouth Marketing Association assert that stealth marketing techniques are deceptive because they don't give their targets the opportunity to raise their instinctive defenses against the persuasive powers of marketing messages.

A developing country markets itself as a good destination of foreign investment.This would be an example of place marketing.

Concentrated marketing is the narrowest strategy of all market-coverage strategies,in which firms target a single location or even a single customer.

An e-commerce website allows visitors to sign up for specific content streams with the promise that they won't be bombarded with information they don't care about.This is an example of ________.

The study of the statistical characteristics of a population is called ________.

Which of the following statements is true about the marketing concept?

A research technique that measures the brain activity of customers while they are viewing or interacting with your company's products or brands is known as ________.

Market share can be defined by either number of units sold or by sales revenue.

What is market segmentation.List the four fundamental factors marketers use to identify market segments.

At one time or another,all consumers suffer from cognitive dissonance.

The sales concept is an approach to business management that stresses customer needs and wants,seeks long-term profitability,and integrates marketing with other functional units within the organization.

________ classifies people by focusing on why they behave the way they do by examining such issues as brand preferences,media preferences,values,attitudes,self-concept,and opinions.

Unlike surveys,focus groups ________.

Buyer's remorse,in which one makes a purchase and then regrets doing so,is an example of ________.

What are the steps involved in strategic marketing planning?

Developing a Business Mindset

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters

Exam 13: The Art and Science of Marketing

________ refers to the categorization of customers according to their relationship with products or response to product characteristics.

Grouping customers with similar characteristics,behaviors,and needs is known as ________.

________ utility is the benefit provided by making the company's products available where customers want to purchase them.

The U.S.Federal Trade Commission (FTC)and the Word of Mouth Marketing Association assert that stealth marketing techniques are deceptive because they don't give their targets the opportunity to raise their instinctive defenses against the persuasive powers of marketing messages.

A developing country markets itself as a good destination of foreign investment.This would be an example of place marketing.

Concentrated marketing is the narrowest strategy of all market-coverage strategies,in which firms target a single location or even a single customer.

An e-commerce website allows visitors to sign up for specific content streams with the promise that they won't be bombarded with information they don't care about.This is an example of ________.

The study of the statistical characteristics of a population is called ________.

Which of the following statements is true about the marketing concept?

A research technique that measures the brain activity of customers while they are viewing or interacting with your company's products or brands is known as ________.

Market share can be defined by either number of units sold or by sales revenue.

What is market segmentation.List the four fundamental factors marketers use to identify market segments.

At one time or another,all consumers suffer from cognitive dissonance.

The sales concept is an approach to business management that stresses customer needs and wants,seeks long-term profitability,and integrates marketing with other functional units within the organization.

________ classifies people by focusing on why they behave the way they do by examining such issues as brand preferences,media preferences,values,attitudes,self-concept,and opinions.

Unlike surveys,focus groups ________.

Buyer's remorse,in which one makes a purchase and then regrets doing so,is an example of ________.

What are the steps involved in strategic marketing planning?

Developing a Business Mindset

Understanding Basic Economics

The Global Marketplace

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters