Question 1

What is the type of market segmentation based on lifestyles called? Provide an example of a retailer who would segment the market based on lifestyles.

Accepted Answer

Market segmentation based on lifestyles,

Question 2

Which of the following is an example of a situational factor that could affect a consumer's buying decision?

Accepted Answer

A)  the buyer's social class 
B)  the layout of a store 
C)  the buyer's motivations 
D)  the price of a product 
E)  the status implications of a product 
A)  the buyer's social class 
B)  the layout of a store 
C)  the buyer's motivations 
D)  the price of a product 
E)  the status implications of a product

Question 3

How do employees benefit from successful marketing?

Accepted Answer

Their jobs and livelihoods are

Question 4

Core competencies are easily imitated by other companies,particularly competitors in the same industry.

Accepted Answer

A) True 
 B)False

Question 5

In business-to-business (B2B)market purchases,purchasing agents often weigh the benefits and the costs in a more systematic fashion than buyers in consumer markets; therefore,sellers don't have to pitch their products at as sophisticated a level as is used in competitive consumer markets.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is NOT a criticism of marketing?

Accepted Answer

A)  catering to an exclusively upscale clientele 
B)  hidden fees 
C)  misuse of personal information 
D)  the promotion of unsafe products 
E)  marketing directed at children 
A)  catering to an exclusively upscale clientele 
B)  hidden fees 
C)  misuse of personal information 
D)  the promotion of unsafe products 
E)  marketing directed at children

Question 7

Why is it important for a business to analyze the competition?

Accepted Answer

Analyzing the degree of competition faci

Question 8

Marketing has evolved over which general eras?

Accepted Answer

A)  innovation, production, sales concept, customer relationship 
B)  production concept, production, sales concept, marketing concept 
C)  production concept, sales concept, marketing concept, societal marketing, customer relationship 
D)  innovation, production concept, sales concept, marketing concept, satisfaction 
E)  production concept, value chain concept, purchasing concept, niche concept, customer relationship 
A)  innovation, production, sales concept, customer relationship 
B)  production concept, production, sales concept, marketing concept 
C)  production concept, sales concept, marketing concept, societal marketing, customer relationship 
D)  innovation, production concept, sales concept, marketing concept, satisfaction 
E)  production concept, value chain concept, purchasing concept, niche concept, customer relationship

Question 9

The competitive advantages or core competencies that a company has at its disposal to meet a specified marketing objective are called its ________.

Accepted Answer

A)  opportunities 
B)  consumer confidence level 
C)  marketing mix 
D)  internal strengths 
E)  external offsets 
A)  opportunities 
B)  consumer confidence level 
C)  marketing mix 
D)  internal strengths 
E)  external offsets

Question 10

CRM stands for ________.

Accepted Answer

A)  consumer relations manager 
B)  customer relationship management 
C)  communications, retailing, marketing 
D)  customized relationship management 
E)  consumer reaction marketing 
A)  consumer relations manager 
B)  customer relationship management 
C)  communications, retailing, marketing 
D)  customized relationship management 
E)  consumer reaction marketing

Question 11

An ideal marketing objective is ________.

Accepted Answer

A)  idealistic, quantifiable, and consumer-oriented 
B)  realistic, qualitative, and competitive 
C)  time specific, realistic, and quantifiable 
D)  quantifiable, research-based, and without regard to ethics 
E)  situational, unattainable, and internal 
A)  idealistic, quantifiable, and consumer-oriented 
B)  realistic, qualitative, and competitive 
C)  time specific, realistic, and quantifiable 
D)  quantifiable, research-based, and without regard to ethics 
E)  situational, unattainable, and internal

Question 12

Discuss some of the differences between consumer markets and business-to-business (B2B)markets and in doing so describe some of the characteristics of B2B markets.

Accepted Answer

The differences hinge on who is doing th

Question 13

What are the four elements of a good marketing plan?

Accepted Answer

1.A clearly written marketing

Question 14

The value of the U.S.dollar on the international market is example of an environmental influence.

Accepted Answer

A) True 
 B)False

Question 15

What is a market segment and what do marketers look for when defining a market segment?

Accepted Answer

A market segment is a subgroup of potent

Question 16

Describe the kinds of utility that marketing provides to customers.

Accepted Answer

First,when a company produces a product

Question 17

What are some approaches a business could take to nurture good customer relationships?

Accepted Answer

A business needs to take steps to foster

Question 18

When the marketers for Quiznos try to convince you to buy their sandwiches instead of Subway sandwiches,they are ________.

Accepted Answer

A)  responding to a need 
B)  creating a need 
C)  differentiating between needs and desires 
D)  satisfying a need 
E)  discounting a need 
A)  responding to a need 
B)  creating a need 
C)  differentiating between needs and desires 
D)  satisfying a need 
E)  discounting a need

Question 19

Which of the following is a typical characteristic of a business-to-business market?

Accepted Answer

A)  many customers who purchase in small quantities 
B)  geographically dispersed buyers 
C)  complex buying decisions 
D)  an individual makes the purchasing decision 
E)  involvement of many wholesalers 
A)  many customers who purchase in small quantities 
B)  geographically dispersed buyers 
C)  complex buying decisions 
D)  an individual makes the purchasing decision 
E)  involvement of many wholesalers

Question 20

Secondary marketing data,which has already been collected and processed,is usually more expensive to obtain than primary data.

Accepted Answer

A) True 
 B)False

Exam 12: Marketing and Consumer Behavior

What is the type of market segmentation based on lifestyles called? Provide an example of a retailer who would segment the market based on lifestyles.

Which of the following is an example of a situational factor that could affect a consumer's buying decision?

How do employees benefit from successful marketing?

Core competencies are easily imitated by other companies,particularly competitors in the same industry.

In business-to-business (B2B)market purchases,purchasing agents often weigh the benefits and the costs in a more systematic fashion than buyers in consumer markets; therefore,sellers don't have to pitch their products at as sophisticated a level as is used in competitive consumer markets.

Which of the following is NOT a criticism of marketing?

Why is it important for a business to analyze the competition?

Marketing has evolved over which general eras?

The competitive advantages or core competencies that a company has at its disposal to meet a specified marketing objective are called its ________.

CRM stands for ________.

An ideal marketing objective is ________.

Discuss some of the differences between consumer markets and business-to-business (B2B)markets and in doing so describe some of the characteristics of B2B markets.

What are the four elements of a good marketing plan?

The value of the U.S.dollar on the international market is example of an environmental influence.

What is a market segment and what do marketers look for when defining a market segment?

Describe the kinds of utility that marketing provides to customers.

What are some approaches a business could take to nurture good customer relationships?

When the marketers for Quiznos try to convince you to buy their sandwiches instead of Subway sandwiches,they are ________.

Which of the following is a typical characteristic of a business-to-business market?

Secondary marketing data,which has already been collected and processed,is usually more expensive to obtain than primary data.

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