Question 1

Developing specific programs to help customers validate their purchase choices is one way marketers attempt to avoid cognitive dissonance.

Accepted Answer

A) True 
 B)False

Question 2

Horizon Inc., an automobile designer and developer, conducted a survey and built cars that suit the needs of its customers. Its newly designed cars let customers choose the color of the interiors. The company also designed touchscreens to control the entertainment, navigation, and climate in the vehicle, instead of knobs or buttons. Which of the following concepts is being illustrated in this scenario?

Accepted Answer

A) Green marketing 
B) Place marketing 
C) Mass customization 
D) Form utility 
A) Green marketing 
B) Place marketing 
C) Mass customization 
D) Form utility

Question 3

_____ refers to the development and promotion of products with ecological benefits.

Accepted Answer

A) Mass customization 
B) Environmental scanning 
C) Social marketing 
D) Green marketing 
A) Mass customization 
B) Environmental scanning 
C) Social marketing 
D) Green marketing

Question 4

Jim works in the marketing department of a smartphone manufacturing firm. He is currently working on new package design ideas for the company's latest range of smartphones. In the context of the company's marketing mix,Jim's ideas contribute to the _____.

Accepted Answer

A) pricing strategy 
B) distributionstrategy 
C) productstrategy 
D) promotionstrategy 
A) pricing strategy 
B) distributionstrategy 
C) productstrategy 
D) promotionstrategy

Question 5

A major disadvantage of primary data is that it is usually outdated even before a marketer receives it.

Accepted Answer

A) True 
 B)False

Question 6

Marketers should only concentrate on creating the actual value of a product.

Accepted Answer

A) True 
 B)False

Question 7

In an effort to expand its business, music retailer MovNow offers DVD rentals online. In order to spot trends in consumer interest, MovNow has decided to evaluate the data of the hyperlinks that customers click on when they visit its website. This is an example of how a company can obtain _____ data.

Accepted Answer

A) secondary 
B) foreign 
C) integrated 
D) primary 
A) secondary 
B) foreign 
C) integrated 
D) primary

Question 8

Businesses use customer relationship management (CRM)techniques to deliver value to customers while promoting customer loyalty.

Accepted Answer

A) True 
 B)False

Question 9

People marketing involves drawing people to a particular place.

Accepted Answer

A) True 
 B)False

Question 10

Demographic segmentation divides the market:

Accepted Answer

A) based on measurable characteristics aboutpeople. 
B) based on where consumers live. 
C) based on the behavior of people toward certain products. 
D) based on people's attitudes and lifestyles. 
A) based on measurable characteristics aboutpeople. 
B) based on where consumers live. 
C) based on the behavior of people toward certain products. 
D) based on people's attitudes and lifestyles.

Question 11

Analysis of market share is a key to understanding a firm's:

Accepted Answer

A) social and cultural environment. 
B) technological environment. 
C) demographic strengths. 
D) competitive environment. 
A) social and cultural environment. 
B) technological environment. 
C) demographic strengths. 
D) competitive environment.

Question 12

Andrew has spent a lot of time gathering information about his top two clients and has decided to make them participate in his latest product development project. Andrew is trying to establish a _________ with his clients.

Accepted Answer

A) full partnership 
B) distinct relationship 
C) partial partnership 
D) limited relationship 
A) full partnership 
B) distinct relationship 
C) partial partnership 
D) limited relationship

Question 13

Which of the following is a drawback of primary data?

Accepted Answer

A) It is frequently outdated. 
B) It cannot be customized to meet your needs. 
C) It tends to be more expensive than secondary data. 
D) It is available to a marketer's competitors. 
A) It is frequently outdated. 
B) It cannot be customized to meet your needs. 
C) It tends to be more expensive than secondary data. 
D) It is available to a marketer's competitors.

Question 14

Which of the following can be achieved by marketers by acquiring customer loyalty?

Accepted Answer

A) Increased actual value of products 
B) Ability to function without feedback 
C) Automatic market segmentation 
D) Acquisition of new customers 
A) Increased actual value of products 
B) Ability to function without feedback 
C) Automatic market segmentation 
D) Acquisition of new customers

Question 15

Clyde wants to open a new store in his neighborhood but needs to first collect relevant data.A cost-effective way to start his research is by:

Accepted Answer

A) relying exclusively on primary data collection because it can be customized to ensure relevance. 
B) collecting secondary data to narrow the list of possible locations, then use the results to focus primary research efforts on a limited number of possible locations. 
C) relying solely on secondary data, even if it is insufficient. This allows the firm to free up both time and financial resources for the design and development of the actual store. 
D) collecting primary data. Then, once the primary data is collected, use secondary sources to refine and verify the results. 
A) relying exclusively on primary data collection because it can be customized to ensure relevance. 
B) collecting secondary data to narrow the list of possible locations, then use the results to focus primary research efforts on a limited number of possible locations. 
C) relying solely on secondary data, even if it is insufficient. This allows the firm to free up both time and financial resources for the design and development of the actual store. 
D) collecting primary data. Then, once the primary data is collected, use secondary sources to refine and verify the results.

Question 16

Which of the following marketing strategies can be best employed for attracting tourists?

Accepted Answer

A) Place marketing 
B) Idea marketing 
C) Green marketing 
D) People marketing 
A) Place marketing 
B) Idea marketing 
C) Green marketing 
D) People marketing

Question 17

Through the use of technology, marketers can lower costs and deliver greater value to their constomers.

Accepted Answer

A) True 
 B)False

Question 18

Mauve Inc.purchased a global data collection and management system that will provide it with detailed information about each of its customers. This would allow Mauve Inc.to create:

Accepted Answer

A) products tailored for individual consumers on a mass basis. 
B) a one-to-many relationship with its customers. 
C) a generic product that would suit all its customers. 
D) technology that increases costs for products of greater value. 
A) products tailored for individual consumers on a mass basis. 
B) a one-to-many relationship with its customers. 
C) a generic product that would suit all its customers. 
D) technology that increases costs for products of greater value.

Question 19

Customer relationship management (CRM)works bestwhen marketers combinemarketing communicationwith _________.

Accepted Answer

A) mass customization 
B) psychographicmarket segmentation 
C) one-on-one personalization 
D) business-to-consumer marketing 
A) mass customization 
B) psychographicmarket segmentation 
C) one-on-one personalization 
D) business-to-consumer marketing

Question 20

_____ is the process of continually collecting information from the external marketing surroundings.

Accepted Answer

A) Globalized marketing 
B) Target marketing 
C) Environmental scanning 
D) Market segmentation 
A) Globalized marketing 
B) Target marketing 
C) Environmental scanning 
D) Market segmentation

Developing specific programs to help customers validate their purchase choices is one way marketers attempt to avoid cognitive dissonance.

_____ refers to the development and promotion of products with ecological benefits.

Jim works in the marketing department of a smartphone manufacturing firm. He is currently working on new package design ideas for the company's latest range of smartphones. In the context of the company's marketing mix,Jim's ideas contribute to the _____.

A major disadvantage of primary data is that it is usually outdated even before a marketer receives it.

Marketers should only concentrate on creating the actual value of a product.

Businesses use customer relationship management (CRM)techniques to deliver value to customers while promoting customer loyalty.

People marketing involves drawing people to a particular place.

Demographic segmentation divides the market:

Analysis of market share is a key to understanding a firm's:

Andrew has spent a lot of time gathering information about his top two clients and has decided to make them participate in his latest product development project. Andrew is trying to establish a _________ with his clients.

Which of the following is a drawback of primary data?

Which of the following can be achieved by marketers by acquiring customer loyalty?

Clyde wants to open a new store in his neighborhood but needs to first collect relevant data.A cost-effective way to start his research is by:

Which of the following marketing strategies can be best employed for attracting tourists?

Through the use of technology, marketers can lower costs and deliver greater value to their constomers.

Mauve Inc.purchased a global data collection and management system that will provide it with detailed information about each of its customers. This would allow Mauve Inc.to create:

Customer relationship management (CRM)works bestwhen marketers combinemarketing communicationwith _________.

_____ is the process of continually collecting information from the external marketing surroundings.

Business Now: Change Is the Only Constant

Economics: The Framework for Business

The World Marketplace: Business Without Borders

Business Ethics and Social Responsibility: Doing Well by Doing Good

Business Communication: Creating and Delivering Messages that Matter

Business Formation: Choosing the Form that Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation and Leadership: Bringing Business to Life

Human Resources Management: Building a Top Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

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Exam 11: Marketing: Building Profitable Customer Connections

Developing specific programs to help customers validate their purchase choices is one way marketers attempt to avoid cognitive dissonance.

_____ refers to the development and promotion of products with ecological benefits.

Jim works in the marketing department of a smartphone manufacturing firm. He is currently working on new package design ideas for the company's latest range of smartphones. In the context of the company's marketing mix,Jim's ideas contribute to the _____.

A major disadvantage of primary data is that it is usually outdated even before a marketer receives it.

Marketers should only concentrate on creating the actual value of a product.

Businesses use customer relationship management (CRM)techniques to deliver value to customers while promoting customer loyalty.

People marketing involves drawing people to a particular place.

Demographic segmentation divides the market:

Analysis of market share is a key to understanding a firm's:

Andrew has spent a lot of time gathering information about his top two clients and has decided to make them participate in his latest product development project. Andrew is trying to establish a _________ with his clients.

Which of the following is a drawback of primary data?

Which of the following can be achieved by marketers by acquiring customer loyalty?

Clyde wants to open a new store in his neighborhood but needs to first collect relevant data.A cost-effective way to start his research is by:

Which of the following marketing strategies can be best employed for attracting tourists?

Through the use of technology, marketers can lower costs and deliver greater value to their constomers.

Mauve Inc.purchased a global data collection and management system that will provide it with detailed information about each of its customers. This would allow Mauve Inc.to create:

Customer relationship management (CRM)works bestwhen marketers combinemarketing communicationwith _________.

_____ is the process of continually collecting information from the external marketing surroundings.

Business Now: Change Is the Only Constant

Economics: The Framework for Business

The World Marketplace: Business Without Borders

Business Ethics and Social Responsibility: Doing Well by Doing Good

Business Communication: Creating and Delivering Messages that Matter

Business Formation: Choosing the Form that Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation and Leadership: Bringing Business to Life

Human Resources Management: Building a Top Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

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