Question 1

The Connecting Through Social Media box shows marketers are increasing their customer reach through creative ways, like Snapchat filters.

Accepted Answer

A) True 
 B)False  True

Question 2

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.

Accepted Answer

A) True 
 B)False  True

Question 3

The last step in the marketing process often includes

Accepted Answer

A)  collecting the cash from sales to consumers. 
B)  developing a written report to summarize the results of the period's marketing activities. 
C)  deciding the best way to distribute the product. 
D)  building relationships with customers. 
A)  collecting the cash from sales to consumers. 
B)  developing a written report to summarize the results of the period's marketing activities. 
C)  deciding the best way to distribute the product. 
D)  building relationships with customers. D

Question 4

Which of the following terms involves the analysis of markets to identify opportunities and challenges?

Accepted Answer

A)  market analysis 
B)  marketing research 
C)  opportunity identification 
D)  market prospecting 
A)  market analysis 
B)  marketing research 
C)  opportunity identification 
D)  market prospecting

Question 5

A firm that uses ________ segmentation divides a market into groups based on values, attitudes, or interests.

Accepted Answer

A)  demographic 
B)  benefit 
C)  psychographic 
D)  normative 
A)  demographic 
B)  benefit 
C)  psychographic 
D)  normative

Question 6

The first step in the marketing research process is to collect relevant data.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is most consistent with a relationship marketing strategy?

Accepted Answer

A)  developing a website that seeks customer feedback and allows customers to communicate with the company 
B)  creating a national advertising campaign using radio and television to increase market share 
C)  designing a promotional campaign to increase cooperation among the firm's suppliers 
D)  distributing goods through limited service discount stores 
A)  developing a website that seeks customer feedback and allows customers to communicate with the company 
B)  creating a national advertising campaign using radio and television to increase market share 
C)  designing a promotional campaign to increase cooperation among the firm's suppliers 
D)  distributing goods through limited service discount stores

Question 8

Separating a market by the amount of the product consumed is known as volume segmentation.

Accepted Answer

A) True 
 B)False

Question 9

A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

Accepted Answer

A) True 
 B)False

Question 10

Describe the steps involved in the marketing process.

Accepted Answer

Marketing is the activity, set of instit

Question 11

A key element of customer relationship management is to

Accepted Answer

A)  keep the price of goods as low as possible. 
B)  develop a strategy to achieve the largest possible market share. 
C)  allow customers to participate in the management decisions of the firm. 
D)  learn as much as possible about customers. 
A)  keep the price of goods as low as possible. 
B)  develop a strategy to achieve the largest possible market share. 
C)  allow customers to participate in the management decisions of the firm. 
D)  learn as much as possible about customers.

Question 12

When Briana developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she was engaging in

Accepted Answer

A)  test marketing. 
B)  psychographic segmentation. 
C)  concept testing. 
D)  prototype analysis. 
A)  test marketing. 
B)  psychographic segmentation. 
C)  concept testing. 
D)  prototype analysis.

Question 13

Rick, a marketing manager for Fix-It Tools, is discouraged with the way his organization markets its products. Currently Fix-It-Tools utilizes a strategy aimed toward the largest possible number of people. The company also relies heavily on television and online advertising. Rick protests to management that the company is not listening to its customers and is in danger of losing many of them to firms that create a personal dialogue with their buyers. What does Fix-It currently practice?

Accepted Answer

A)  a constant change strategy 
B)  relationship marketing 
C)  mass marketing 
D)  market segmentation 
A)  a constant change strategy 
B)  relationship marketing 
C)  mass marketing 
D)  market segmentation

Question 14

________ marketing is the marketing of products to groups of customers a firm decides it can serve profitably.

Accepted Answer

A)  Objective 
B)  Departmentalized 
C)  Target 
D)  Subjective 
A)  Objective 
B)  Departmentalized 
C)  Target 
D)  Subjective

Question 15

According to the Spotlight on Small Business box, small businesses can make big money by

Accepted Answer

A)  participating in mass production. 
B)  jumping on board with technological advances as they evolve. 
C)  shipping products to consumers faster than competitors. 
D)  opening online stores to accompany the already established brick-and-mortar shops. 
A)  participating in mass production. 
B)  jumping on board with technological advances as they evolve. 
C)  shipping products to consumers faster than competitors. 
D)  opening online stores to accompany the already established brick-and-mortar shops.

Question 16

Secondary data should be gathered first because this type of information is less expensive to obtain.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements about marketing is the most accurate?

Accepted Answer

A)  Because nonprofit organizations are not motivated by profit, marketing activities are not consistent with their goals. 
B)  To be successful, marketers must be able to persuade consumers to purchase goods they don't really need. 
C)  Once a product is sold, focus on the next customer. 
D)  Marketers recognize the need to learn as much as possible about customers and do everything possible to satisfy them. 
A)  Because nonprofit organizations are not motivated by profit, marketing activities are not consistent with their goals. 
B)  To be successful, marketers must be able to persuade consumers to purchase goods they don't really need. 
C)  Once a product is sold, focus on the next customer. 
D)  Marketers recognize the need to learn as much as possible about customers and do everything possible to satisfy them.

Question 18

The factor that determines whether a product is classified as a consumer product or an industrial product is

Accepted Answer

A)  the end use of the product. 
B)  the decision-making process used to purchase the good or service. 
C)  who the buyer represents. 
D)  whether the good is new or used. 
A)  the end use of the product. 
B)  the decision-making process used to purchase the good or service. 
C)  who the buyer represents. 
D)  whether the good is new or used.

Question 19

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

Accepted Answer

A) True 
 B)False

Question 20

A widely used technique commonly used for collecting primary data is

Accepted Answer

A)  collecting relevant articles in trade journals. 
B)  benchmarking. 
C)  conducting a survey. 
D)  reviewing government reports. 
A)  collecting relevant articles in trade journals. 
B)  benchmarking. 
C)  conducting a survey. 
D)  reviewing government reports.

Exam 13: Marketing: Helping Buyers Buy

The Connecting Through Social Media box shows marketers are increasing their customer reach through creative ways, like Snapchat filters.

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.

The last step in the marketing process often includes

Which of the following terms involves the analysis of markets to identify opportunities and challenges?

A firm that uses ________ segmentation divides a market into groups based on values, attitudes, or interests.

The first step in the marketing research process is to collect relevant data.

Which of the following is most consistent with a relationship marketing strategy?

Separating a market by the amount of the product consumed is known as volume segmentation.

A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

Describe the steps involved in the marketing process.

A key element of customer relationship management is to

When Briana developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she was engaging in

________ marketing is the marketing of products to groups of customers a firm decides it can serve profitably.

According to the Spotlight on Small Business box, small businesses can make big money by

Secondary data should be gathered first because this type of information is less expensive to obtain.

Which of the following statements about marketing is the most accurate?

The factor that determines whether a product is classified as a consumer product or an industrial product is

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

A widely used technique commonly used for collecting primary data is

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Management and Leadership

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Employeemanagement Issues

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money, Financial Institutions, and the Federal Reserve

Appendix: Working Within the Legal Environment

Appendix: Using Technology to Manage Information

Appendix: Managing Risk

Appendix: Managing Personal Finances

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