Question 1

How does primary data differ from secondary data?

Accepted Answer

A)  Primary data is less expensive and more difficult to gather. 
B)  Primary data is less expensive and less difficult to gather. 
C)  Primary data is more expensive and more difficult to gather. 
D)  Primary data is more expensive and less difficult to gather. 
A)  Primary data is less expensive and more difficult to gather. 
B)  Primary data is less expensive and less difficult to gather. 
C)  Primary data is more expensive and more difficult to gather. 
D)  Primary data is more expensive and less difficult to gather.

Question 2

The Prius is Toyota's hybrid sedan on the market today. Why is this product is a key player for Toyota?

Accepted Answer

A)  It is a key player in their efforts to achieve mass customization. 
B)  It is a key player in their plan to implement environmental scanning. 
C)  It is a key player in their use of primary marketing. 
D)  It is a key player in their green marketing strategy. 
A)  It is a key player in their efforts to achieve mass customization. 
B)  It is a key player in their plan to implement environmental scanning. 
C)  It is a key player in their use of primary marketing. 
D)  It is a key player in their green marketing strategy.

Question 3

What is the most significant difference between the consumer buyer and the business buyer?

Accepted Answer

A)  The consumer buyer is more likely to negotiate on prices and features. 
B)  The consumer buyer is unlikely to do any research. 
C)  The business buyer bases purchases on specifications rather than on personal judgment. 
D)  The business buyer has more flexibility. 
A)  The consumer buyer is more likely to negotiate on prices and features. 
B)  The consumer buyer is unlikely to do any research. 
C)  The business buyer bases purchases on specifications rather than on personal judgment. 
D)  The business buyer has more flexibility.

Question 4

Toyota is considered to be a green marketer. What is green marketing, and what does it accomplish? Describe why Toyota qualifies as a green marketer.

Accepted Answer

Companies are green marketers when they

Question 5

In B2B marketing, the most common strategies for segmenting a market are based on geography, customer characteristics, and product-use.

Accepted Answer

A) True 
 B)False

Question 6

Explain the steps a business leader takes when developing a marketing strategy. The following terms should be included: marketing plan, target market, market segmentation, marketing mix, and environmental scanning.

Accepted Answer

Many successful firms begin the process

Question 7

Define, compare, and contrast customer satisfaction and customer loyalty. List and describe the two most common pitfalls marketers fall into when trying to achieve customer satisfaction.

Accepted Answer

Customer Satisfaction. You know you've s

Question 8

Which of the following is a common error committed by marketers when they are trying to generate customer satisfaction?

Accepted Answer

A)  putting too much emphasis on the marketing concept 
B)  underpromising, thus setting consumer expectations too low 
C)  focusing on value rather than price 
D)  developing relationships with individual customers rather than focusing on the market as a whole 
A)  putting too much emphasis on the marketing concept 
B)  underpromising, thus setting consumer expectations too low 
C)  focusing on value rather than price 
D)  developing relationships with individual customers rather than focusing on the market as a whole

Question 9

Understanding consumer behaviour is a key to successful business-to-business relationships.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following encompasses the values, attitudes, and customs shared by members of a society?

Accepted Answer

A)  social empathy 
B)  nationality 
C)  ethnicity 
D)  culture 
A)  social empathy 
B)  nationality 
C)  ethnicity 
D)  culture

Question 11

BettaBikes has begun using a strategy known as mass customization. This means that BettaBikes produces one basic bike style that appeals to a massive customer base.

Accepted Answer

A) True 
 B)False

Question 12

Starbucks aggressively opens conveniently located stores that provide customers with easy access to gourmet coffee beverages and pastries. This is an example of providing place utility.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following refers to a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

Accepted Answer

A)  intrapreneurship 
B)  utilization 
C)  marketing 
D)  production 
A)  intrapreneurship 
B)  utilization 
C)  marketing 
D)  production

Question 14

MyWays produces GPS navigation units. It sells these units online, over the phone, and in its own outlet stores. It also accepts all major credit cards and offers a variety of attractive financing arrangements and free shipping. Which type of utility is MyWays making a strong effort to provide?

Accepted Answer

A)  transactional utility 
B)  cost utility 
C)  ownership utility 
D)  tracking utility 
A)  transactional utility 
B)  cost utility 
C)  ownership utility 
D)  tracking utility

Question 15

Although both B2C and B2B marketers segment their markets, they use somewhat different categories.

Accepted Answer

A) True 
 B)False

Question 16

Which type of segmentation is the vital starting point for most marketers?

Accepted Answer

A)  demographic segmentation 
B)  use-pattern segmentation 
C)  cultural segmentation 
D)  psychographic segmentation 
A)  demographic segmentation 
B)  use-pattern segmentation 
C)  cultural segmentation 
D)  psychographic segmentation

Question 17

Tina is an engineering major who has decided she needs a new laptop computer. She has asked several friends what they like and dislike about their computers and has read several articles in computer magazines and online sites describing the latest features in laptops. As a result, she now has a good idea about what she wants. What is Tina's most likely next step?

Accepted Answer

A)  undergoing a credit evaluation 
B)  evaluating specific laptop alternatives 
C)  doing a competitive analysis 
D)  experiencing cognitive dissonance 
A)  undergoing a credit evaluation 
B)  evaluating specific laptop alternatives 
C)  doing a competitive analysis 
D)  experiencing cognitive dissonance

Question 18

Define utility, and describe how each of the four types of utility impacts the marketing process.

Accepted Answer

Utility is the ability of goods and serv

Question 19

Online questionnaires are an example of observation research.

Accepted Answer

A) True 
 B)False

Question 20

Demographics are the mix of traits that define individuals.

Accepted Answer

A) True 
 B)False

How does primary data differ from secondary data?

The Prius is Toyota's hybrid sedan on the market today. Why is this product is a key player for Toyota?

What is the most significant difference between the consumer buyer and the business buyer?

Toyota is considered to be a green marketer. What is green marketing, and what does it accomplish? Describe why Toyota qualifies as a green marketer.

In B2B marketing, the most common strategies for segmenting a market are based on geography, customer characteristics, and product-use.

Explain the steps a business leader takes when developing a marketing strategy. The following terms should be included: marketing plan, target market, market segmentation, marketing mix, and environmental scanning.

Define, compare, and contrast customer satisfaction and customer loyalty. List and describe the two most common pitfalls marketers fall into when trying to achieve customer satisfaction.

Which of the following is a common error committed by marketers when they are trying to generate customer satisfaction?

Understanding consumer behaviour is a key to successful business-to-business relationships.

Which of the following encompasses the values, attitudes, and customs shared by members of a society?

BettaBikes has begun using a strategy known as mass customization. This means that BettaBikes produces one basic bike style that appeals to a massive customer base.

Starbucks aggressively opens conveniently located stores that provide customers with easy access to gourmet coffee beverages and pastries. This is an example of providing place utility.

Which of the following refers to a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

MyWays produces GPS navigation units. It sells these units online, over the phone, and in its own outlet stores. It also accepts all major credit cards and offers a variety of attractive financing arrangements and free shipping. Which type of utility is MyWays making a strong effort to provide?

Although both B2C and B2B marketers segment their markets, they use somewhat different categories.

Which type of segmentation is the vital starting point for most marketers?

Define utility, and describe how each of the four types of utility impacts the marketing process.

Online questionnaires are an example of observation research.

Demographics are the mix of traits that define individuals.

Business Now: Change Is the Only Constant

Business Ethics and Social Responsibility: Doing Well by Doing Good

Economics: The Framework for Business

The World Market-Place: Business Without Borders

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 Resource Management: Building a Top-Quality Workforce

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

Operations Management: Putting It All Together

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters

Exam 10: Marketing: Building Profitable Customer Connections

How does primary data differ from secondary data?

The Prius is Toyota's hybrid sedan on the market today. Why is this product is a key player for Toyota?

What is the most significant difference between the consumer buyer and the business buyer?

Toyota is considered to be a green marketer. What is green marketing, and what does it accomplish? Describe why Toyota qualifies as a green marketer.

In B2B marketing, the most common strategies for segmenting a market are based on geography, customer characteristics, and product-use.

Explain the steps a business leader takes when developing a marketing strategy. The following terms should be included: marketing plan, target market, market segmentation, marketing mix, and environmental scanning.

Define, compare, and contrast customer satisfaction and customer loyalty. List and describe the two most common pitfalls marketers fall into when trying to achieve customer satisfaction.

Which of the following is a common error committed by marketers when they are trying to generate customer satisfaction?

Understanding consumer behaviour is a key to successful business-to-business relationships.

Which of the following encompasses the values, attitudes, and customs shared by members of a society?

BettaBikes has begun using a strategy known as mass customization. This means that BettaBikes produces one basic bike style that appeals to a massive customer base.

Starbucks aggressively opens conveniently located stores that provide customers with easy access to gourmet coffee beverages and pastries. This is an example of providing place utility.

Which of the following refers to a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

MyWays produces GPS navigation units. It sells these units online, over the phone, and in its own outlet stores. It also accepts all major credit cards and offers a variety of attractive financing arrangements and free shipping. Which type of utility is MyWays making a strong effort to provide?

Although both B2C and B2B marketers segment their markets, they use somewhat different categories.

Which type of segmentation is the vital starting point for most marketers?

Define utility, and describe how each of the four types of utility impacts the marketing process.

Online questionnaires are an example of observation research.

Demographics are the mix of traits that define individuals.

Business Now: Change Is the Only Constant

Business Ethics and Social Responsibility: Doing Well by Doing Good

Economics: The Framework for Business

The World Market-Place: Business Without Borders

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 Resource Management: Building a Top-Quality Workforce

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

Operations Management: Putting It All Together

Business Communication: Creating and Delivering Messages That Matter

Labour Unions and Collective Bargaining

Business Law

Personal Finance

Filters