Question 1

When you have already determined that there is demand for the services of your potential business,your next step is to ________.

Accepted Answer

A)  identify an unfilled market need 
B)  identify target customers 
C)  implement the marketing mix 
D)  conduct market research 
E)  nurture good customer relationships 
A)  identify an unfilled market need 
B)  identify target customers 
C)  implement the marketing mix 
D)  conduct market research 
E)  nurture good customer relationships

Question 2

During the sales concept era,technological advances meant that production increased more sharply than demand for goods and services.

Accepted Answer

A) True 
 B)False

Question 3

The main function of marketing is ________.

Accepted Answer

A)  to contribute to the accuracy of a business's strategic plan 
B)  to successfully establish meaningful relationships with customers to ensure loyalty and repeat business 
C)  to develop the business's mission and vision 
D)  to ensure that manufacturing capacity of a firm is aligned with consumer demand 
E)  to determine whether products meet current safety standards 
A)  to contribute to the accuracy of a business's strategic plan 
B)  to successfully establish meaningful relationships with customers to ensure loyalty and repeat business 
C)  to develop the business's mission and vision 
D)  to ensure that manufacturing capacity of a firm is aligned with consumer demand 
E)  to determine whether products meet current safety standards

Question 4

What do we mean when we use the term "consumer behavior"?

Accepted Answer

Consumer behavior refers to the ways ind

Question 5

A marketing plan is best provided as an oral presentation so that employees can grasp concepts through visual aids and ask questions in a question-and-answer session.

Accepted Answer

A) True 
 B)False

Question 6

During the marketing concept era,demand for goods and services expanded more quickly than production.

Accepted Answer

A) True 
 B)False

Question 7

A target market is a group of people who have completed surveys,questionnaires,or other response forms and have indicated an interest in the production of a new product.

Accepted Answer

A) True 
 B)False

Question 8

From the mid-1920s through the early 1950s,marketing generally took place after the product was developed and produced.What era is this in marketing history? Discuss the role of marketing during this time.

Accepted Answer

This was the sales concept era.Marketing

Question 9

Which of the following is the BEST example of ownership utility?

Accepted Answer

A)  A law firm believes that it will be more profitable it if owns rather than leases its office space. 
B)  A collectible item decreases in value over time. 
C)  A store sells a swimsuit to a customer. 
D)  A customer benefits from purchasing ski equipment at the beginning of the winter season. 
E)  A manufacturer purchases raw materials from a supplier to create products. 
A)  A law firm believes that it will be more profitable it if owns rather than leases its office space. 
B)  A collectible item decreases in value over time. 
C)  A store sells a swimsuit to a customer. 
D)  A customer benefits from purchasing ski equipment at the beginning of the winter season. 
E)  A manufacturer purchases raw materials from a supplier to create products.

Question 10

The first step in the marketing process is to ________.

Accepted Answer

A)  conduct market research 
B)  identify an unfilled market need 
C)  determine costs in relation to potential benefits of the product 
D)  establish brand recognition 
E)  nurture good customer relationships 
A)  conduct market research 
B)  identify an unfilled market need 
C)  determine costs in relation to potential benefits of the product 
D)  establish brand recognition 
E)  nurture good customer relationships

Question 11

Which of the following is NOT a function of CRM software,which would help a company to learn as much as possible about customers and create a meaningful one-on-one interaction with each of them?

Accepted Answer

A)  personalizing customer e-mail so that it addresses their particular needs 
B)  quickly identifying customers who call for customer service 
C)  calling customers at their homes to promote the latests products 
D)  offering products tailored specifically to customers' needs and desires 
E)  suggesting future purchases based on prior purchases or browsing interests 
A)  personalizing customer e-mail so that it addresses their particular needs 
B)  quickly identifying customers who call for customer service 
C)  calling customers at their homes to promote the latests products 
D)  offering products tailored specifically to customers' needs and desires 
E)  suggesting future purchases based on prior purchases or browsing interests

Question 12

The more loyal a traveler is to a certain hotel chain,the more sensitive he or she is to the room rate at hotels in that chain.

Accepted Answer

A) True 
 B)False

Question 13

What are some of the ways that automobile manufacturers can use their knowledge of consumers' changing attitudes and behavior?

Accepted Answer

One example of changing consumer behavio

Question 14

Once an organization has performed a complete situational analysis,including an evaluation of its internal strengths and weaknesses and the external opportunities and threats of the market environment,then it is ready to ________.

Accepted Answer

A)  do market research 
B)  expand sales over the Internet 
C)  select its target market 
D)  perform an audit of the organization's execution of its marketing mix 
E)  create its marketing objective 
A)  do market research 
B)  expand sales over the Internet 
C)  select its target market 
D)  perform an audit of the organization's execution of its marketing mix 
E)  create its marketing objective

Question 15

How does marketing MOST benefit consumers?

Accepted Answer

A)  by convincing consumers that they have needs of which they were previously not aware 
B)  by promoting healthy business competition 
C)  by responding to consumer needs in an effort to satisfy those needs 
D)  by minimizing the retail price of desirable products 
E)  by persuading consumers that they want things that they really don't need 
A)  by convincing consumers that they have needs of which they were previously not aware 
B)  by promoting healthy business competition 
C)  by responding to consumer needs in an effort to satisfy those needs 
D)  by minimizing the retail price of desirable products 
E)  by persuading consumers that they want things that they really don't need

Question 16

Market segmentation based on consumer characteristics such as benefit sought,brand loyalty,volume usage,price sensitivity,and how a product is used are examples of what type of consumer market segmentation?

Accepted Answer

Behavioral.The market segmentation is ba

Question 17

Form utility refers to ________.

Accepted Answer

A)  a product produced from raw materials that pleases the customer 
B)  stocking and displaying products 
C)  the means of ordering products 
D)  the benefits of practicality when a product can be used with no assembly required 
E)  the interesting features of a particular brand's product 
A)  a product produced from raw materials that pleases the customer 
B)  stocking and displaying products 
C)  the means of ordering products 
D)  the benefits of practicality when a product can be used with no assembly required 
E)  the interesting features of a particular brand's product

Question 18

During which era did businesses switch their focus to place special emphasis on pleasing customers after the sale?

Accepted Answer

A)  customer relationship era 
B)  production concept era 
C)  marketing concept era 
D)  societal marketing era 
E)  sales concept era 
A)  customer relationship era 
B)  production concept era 
C)  marketing concept era 
D)  societal marketing era 
E)  sales concept era

Question 19

The process of developing a unique marketing mix that best satisfies a target market is known as positioning.

Accepted Answer

A) True 
 B)False

Question 20

What factors do B2B purchasers typically take into consideration when making a purchasing decision?

Accepted Answer

B2B purchases are generally objective de

Exam 12: Marketing and Consumer Behavior

When you have already determined that there is demand for the services of your potential business,your next step is to ________.

During the sales concept era,technological advances meant that production increased more sharply than demand for goods and services.

The main function of marketing is ________.

What do we mean when we use the term "consumer behavior"?

A marketing plan is best provided as an oral presentation so that employees can grasp concepts through visual aids and ask questions in a question-and-answer session.

During the marketing concept era,demand for goods and services expanded more quickly than production.

A target market is a group of people who have completed surveys,questionnaires,or other response forms and have indicated an interest in the production of a new product.

From the mid-1920s through the early 1950s,marketing generally took place after the product was developed and produced.What era is this in marketing history? Discuss the role of marketing during this time.

Which of the following is the BEST example of ownership utility?

The first step in the marketing process is to ________.

Which of the following is NOT a function of CRM software,which would help a company to learn as much as possible about customers and create a meaningful one-on-one interaction with each of them?

The more loyal a traveler is to a certain hotel chain,the more sensitive he or she is to the room rate at hotels in that chain.

What are some of the ways that automobile manufacturers can use their knowledge of consumers' changing attitudes and behavior?

Once an organization has performed a complete situational analysis,including an evaluation of its internal strengths and weaknesses and the external opportunities and threats of the market environment,then it is ready to ________.

How does marketing MOST benefit consumers?

Market segmentation based on consumer characteristics such as benefit sought,brand loyalty,volume usage,price sensitivity,and how a product is used are examples of what type of consumer market segmentation?

Form utility refers to ________.

During which era did businesses switch their focus to place special emphasis on pleasing customers after the sale?

The process of developing a unique marketing mix that best satisfies a target market is known as positioning.

What factors do B2B purchasers typically take into consideration when making a purchasing decision?

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