Question 1

In business-to-business markets, sellers rely on wholesalers and retailers to efficiently distribute their products.

Accepted Answer

A) True 
 B)False  False

Question 2

Because the marketing concept emphasizes a profit orientation, marketing has not been used successfully by nonprofit organizations.

Accepted Answer

A) True 
 B)False  False

Question 3

Firms adopting a relationship marketing strategy view technology as a(n):

Accepted Answer

A)  promising technique to expand to a mass market. 
B)  threat to the effective and efficient implementation of their strategy. 
C)  tool with limited value because many people are reluctant to place orders or send information electronically. 
D)  increased opportunity to personalize marketing campaigns to meet customer needs. 
A)  promising technique to expand to a mass market. 
B)  threat to the effective and efficient implementation of their strategy. 
C)  tool with limited value because many people are reluctant to place orders or send information electronically. 
D)  increased opportunity to personalize marketing campaigns to meet customer needs. D

Question 4

Buyers in the B2B market tend to make more rational decisions than buyers in the consumer market.

Accepted Answer

A) True 
 B)False

Question 5

Firms adopting a relationship marketing strategy often establish a database of information about each customer.

Accepted Answer

A) True 
 B)False

Question 6

As noted in the Reaching Beyond Our Borders box, as China reforms its one-child policy, the new policy will have a minuscule impact on businesses in the Chinese market.

Accepted Answer

A) True 
 B)False

Question 7

The __________ market consists of individuals and organizations that want goods and services in order to produce goods and services or to sell, rent, or supply those goods to others.

Accepted Answer

A)  consumer 
B)  B2B 
C)  target 
D)  super 
A)  consumer 
B)  B2B 
C)  target 
D)  super

Question 8

During the ________ era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

Accepted Answer

A)  prefabrication 
B)  selling 
C)  mass communication 
D)  customer relationship 
A)  prefabrication 
B)  selling 
C)  mass communication 
D)  customer relationship

Question 9

A ________ marketing strategy develops products and promotions designed to please large groups of people.

Accepted Answer

A)  volume 
B)  mass 
C)  relationship 
D)  value 
A)  volume 
B)  mass 
C)  relationship 
D)  value

Question 10

The B2B market involves fewer trades and fewer dollars spent than the consumer market because there are so many more consumers than there are businesses.

Accepted Answer

A) True 
 B)False

Question 11

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 12

Roosevelt Community College has experienced declining enrollment for the past three years. In the past the college has relied strictly on enrollment from newly graduated high school students. In order to identify other potential markets, Roosevelt Community College would benefit from:

Accepted Answer

A)  test marketing. 
B)  sales promotions. 
C)  marketing research. 
D)  a stakeholder audit. 
A)  test marketing. 
B)  sales promotions. 
C)  marketing research. 
D)  a stakeholder audit.

Question 13

Designing a want-satisfying product is part of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 14

Consumer databases, blogs, and social networking are some of the technological factors that are used by marketers to develop goods and services.

Accepted Answer

A) True 
 B)False

Question 15

The set of values, attitudes, and ways of doing things that result from belonging to a certain ethnic, religious, or racial group is called that group's cognitive dissonance.

Accepted Answer

A) True 
 B)False

Question 16

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market. Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

Accepted Answer

A)  Businesses focus on developing wants and needs in consumer markets, while firms work to satisfy the existing needs of the B2B market. 
B)  Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets. 
C)  Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets. 
D)  Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets. 
A)  Businesses focus on developing wants and needs in consumer markets, while firms work to satisfy the existing needs of the B2B market. 
B)  Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets. 
C)  Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets. 
D)  Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets.

Question 17

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 18

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

Accepted Answer

A) True 
 B)False

Question 19

In an effort to increase profits, Yen Ching Chinese restaurant is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet. These efforts, designed to identify specific groups that can be profitably served, represent an example of:

Accepted Answer

A)  target marketing. 
B)  a reference group strategy. 
C)  benefit segmentation. 
D)  B2B marketing. 
A)  target marketing. 
B)  a reference group strategy. 
C)  benefit segmentation. 
D)  B2B marketing.

Question 20

All-Star Collectibles focuses its marketing efforts on high-income buyers of unique collectible items. The firm realizes that the number of buyers in this segment of the collectible market is small. However, they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service. All-Star's approach is an example of:

Accepted Answer

A)  competitive benchmarking. 
B)  niche marketing. 
C)  relationship targeting. 
D)  target positioning. 
A)  competitive benchmarking. 
B)  niche marketing. 
C)  relationship targeting. 
D)  target positioning.

Exam 13: Marketing: Helping Buyers Buy

In business-to-business markets, sellers rely on wholesalers and retailers to efficiently distribute their products.

Because the marketing concept emphasizes a profit orientation, marketing has not been used successfully by nonprofit organizations.

Firms adopting a relationship marketing strategy view technology as a(n):

Buyers in the B2B market tend to make more rational decisions than buyers in the consumer market.

Firms adopting a relationship marketing strategy often establish a database of information about each customer.

As noted in the Reaching Beyond Our Borders box, as China reforms its one-child policy, the new policy will have a minuscule impact on businesses in the Chinese market.

The __________ market consists of individuals and organizations that want goods and services in order to produce goods and services or to sell, rent, or supply those goods to others.

During the ________ era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

A ________ marketing strategy develops products and promotions designed to please large groups of people.

The B2B market involves fewer trades and fewer dollars spent than the consumer market because there are so many more consumers than there are businesses.

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

Roosevelt Community College has experienced declining enrollment for the past three years. In the past the college has relied strictly on enrollment from newly graduated high school students. In order to identify other potential markets, Roosevelt Community College would benefit from:

Designing a want-satisfying product is part of the marketing mix.

Consumer databases, blogs, and social networking are some of the technological factors that are used by marketers to develop goods and services.

The set of values, attitudes, and ways of doing things that result from belonging to a certain ethnic, religious, or racial group is called that group's cognitive dissonance.

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

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

In an effort to increase profits, Yen Ching Chinese restaurant is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet. These efforts, designed to identify specific groups that can be profitably served, represent an example of:

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 Union and 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

Managing the Marketing Mix: Product, Price, Place and Promotion

Extension: Working Within the Legal Environment

Extension: Using Technology to Manage Information

Extension: Managing Risk

Extension: Managing Personal Finances

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