Question 1

_____ involves partitioning the general need for a solution to a class of problems into smaller clusters involving distinct markets.

Accepted Answer

A)  Market segmentation 
B)  Sugging 
C)  Statistical profiling 
D)  Data warehousing 
E)  Data mining 
A)  Market segmentation 
B)  Sugging 
C)  Statistical profiling 
D)  Data warehousing 
E)  Data mining A

Question 2

What is the limitation of using personal interview as a survey tool?

Accepted Answer

A)  Feedback from physical stimuli cannot be ascertained 
B)  Does not allow good depth of questioning and probing 
C)  Answers cannot be clarified 
D)  Feedback from product demonstrations cannot be ascertained 
E)  The expense of sending interviewers to the field to secure elusive appointments 
A)  Feedback from physical stimuli cannot be ascertained 
B)  Does not allow good depth of questioning and probing 
C)  Answers cannot be clarified 
D)  Feedback from product demonstrations cannot be ascertained 
E)  The expense of sending interviewers to the field to secure elusive appointments E

Question 3

The volume of certain materials,logistical services or MRO goods can be compared to finished products output in a:

Accepted Answer

A)  Scenario process 
B)  Buildup approach 
C)  Conceptual map 
D)  SWOT analysis 
E)  Statistical series 
A)  Scenario process 
B)  Buildup approach 
C)  Conceptual map 
D)  SWOT analysis 
E)  Statistical series E

Question 4

This involves hard thinking and analysis of how the product fits into the value-added process.

Accepted Answer

A)  Scenario process 
B)  Buildup approach 
C)  Positioning 
D)  Diversification 
E)  SWOT analysis 
A)  Scenario process 
B)  Buildup approach 
C)  Positioning 
D)  Diversification 
E)  SWOT analysis

Question 5

Classifying customers on the basis of _____,often leads to a breakdown featuring Fortune 500 firms,other named accounts,midsized firms and small businesses.

Accepted Answer

A)  Size 
B)  Product 
C)  Industry 
D)  Geography 
E)  Technology 
A)  Size 
B)  Product 
C)  Industry 
D)  Geography 
E)  Technology

Question 6

Which term refers to the practice of storing all of the firm's information on a centrally managed computer which may be accessed by authorized users firm wide?

Accepted Answer

A)  Data mining 
B)  Data warehousing 
C)  Data centralization 
D)  Data compression 
E)  Data analysis 
A)  Data mining 
B)  Data warehousing 
C)  Data centralization 
D)  Data compression 
E)  Data analysis

Question 7

The actual symbols,messages and media used in positioning campaigns become more important than what the customers perceive,believe and retain.

Accepted Answer

A) True 
 B)False

Question 8

Business markets often comprise many customer firms.

Accepted Answer

A) True 
 B)False

Question 9

Customer lifetime value:

Accepted Answer

A)  Involves hard thinking and analysis of how the product fits into the value-added process 
B)  Is an estimate to improve market share potential and track performance 
C)  Is an estimate of the net present value of the stream of benefits from a customer, less the burdens of servicing the account 
D)  Is an estimate of satisfaction or buying intentions 
E)  Involves sorting prospective customers on the basis of how they buy 
A)  Involves hard thinking and analysis of how the product fits into the value-added process 
B)  Is an estimate to improve market share potential and track performance 
C)  Is an estimate of the net present value of the stream of benefits from a customer, less the burdens of servicing the account 
D)  Is an estimate of satisfaction or buying intentions 
E)  Involves sorting prospective customers on the basis of how they buy

Question 10

To identify unmet customer needs for guiding new product development,which of the following face to face methods can be more economical?

Accepted Answer

A)  Focus groups 
B)  One-on-one interviews 
C)  Mail 
D)  Telephone 
E)  Internet 
A)  Focus groups 
B)  One-on-one interviews 
C)  Mail 
D)  Telephone 
E)  Internet

Question 11

A "good" market segment is identifiable,accessible and substantial.

Accepted Answer

A) True 
 B)False

Question 12

What is the key drawback of using telephone surveys?

Accepted Answer

A)  There always are recipient concerns about privacy 
B)  It does not offer a fair mix of population 
C)  Some populations are not well connected 
D)  This is usually a time-consuming method 
E)  The telephone is a more intrusive medium than the mail 
A)  There always are recipient concerns about privacy 
B)  It does not offer a fair mix of population 
C)  Some populations are not well connected 
D)  This is usually a time-consuming method 
E)  The telephone is a more intrusive medium than the mail

Question 13

What is purchasing mentality?

Accepted Answer

A)  Serving customers in a segment that values economy 
B)  It refers to marketing efforts to secure a valued categorization in the mind of a customer 
C)  Some buyers simply seek the lowest price on tightly defined products 
D)  Having a broad view of supply in the value creation process 
E)  Buyers give importance and performance ratings based on price criteria 
A)  Serving customers in a segment that values economy 
B)  It refers to marketing efforts to secure a valued categorization in the mind of a customer 
C)  Some buyers simply seek the lowest price on tightly defined products 
D)  Having a broad view of supply in the value creation process 
E)  Buyers give importance and performance ratings based on price criteria

Question 14

Which of the following costs do NOT form a part of burden in determining customer lifetime value?

Accepted Answer

A)  Training cost 
B)  Entertainment cost 
C)  Cost of periodic meetings 
D)  Annual Thanksgiving turkey gift baskets 
E)  Purchase cost of the product 
A)  Training cost 
B)  Entertainment cost 
C)  Cost of periodic meetings 
D)  Annual Thanksgiving turkey gift baskets 
E)  Purchase cost of the product

Question 15

The focus group is best used to generate ideas,gain insights into customer needs/constraints and identify possible market opportunities.

Accepted Answer

A) True 
 B)False

Question 16

What is a major disadvantage of online surveys?

Accepted Answer

A)  They are a more intrusive medium than the telephone 
B)  They are very expensive to implement 
C)  Most of the time they are extremely slow as a medium 
D)  Some populations are not well represented online 
E)  Their inefficiency often leads to only a few samples 
A)  They are a more intrusive medium than the telephone 
B)  They are very expensive to implement 
C)  Most of the time they are extremely slow as a medium 
D)  Some populations are not well represented online 
E)  Their inefficiency often leads to only a few samples

Question 17

Business managers have often noted that 20 percent of customers account for _____ percent of sales.

Accepted Answer

A)  60 
B)  80 
C)  20 
D)  40 
E)  30 
A)  60 
B)  80 
C)  20 
D)  40 
E)  30

Question 18

What is account retention?

Accepted Answer

A)  It is the increase in the volume of light and medium accounts 
B)  The payoffs from many marketing expenditures 
C)  The seller's ability to provide value to the buyer 
D)  The percentage of accounts that continue doing business with the seller each year 
E)  It is the anticipated account maintenance charges 
A)  It is the increase in the volume of light and medium accounts 
B)  The payoffs from many marketing expenditures 
C)  The seller's ability to provide value to the buyer 
D)  The percentage of accounts that continue doing business with the seller each year 
E)  It is the anticipated account maintenance charges

Question 19

Sellers often seek to secure a preferred position in the customer's mind through:

Accepted Answer

A)  Focusing 
B)  Sugging 
C)  Segmenting 
D)  Positioning 
E)  Factoring 
A)  Focusing 
B)  Sugging 
C)  Segmenting 
D)  Positioning 
E)  Factoring

Question 20

Business marketing research is a useful tool for both customer management AND new customer acquisition.

Accepted Answer

A) True 
 B)False

_____ involves partitioning the general need for a solution to a class of problems into smaller clusters involving distinct markets.

What is the limitation of using personal interview as a survey tool?

The volume of certain materials,logistical services or MRO goods can be compared to finished products output in a:

This involves hard thinking and analysis of how the product fits into the value-added process.

Classifying customers on the basis of _____,often leads to a breakdown featuring Fortune 500 firms,other named accounts,midsized firms and small businesses.

Which term refers to the practice of storing all of the firm's information on a centrally managed computer which may be accessed by authorized users firm wide?

The actual symbols,messages and media used in positioning campaigns become more important than what the customers perceive,believe and retain.

Business markets often comprise many customer firms.

Customer lifetime value:

To identify unmet customer needs for guiding new product development,which of the following face to face methods can be more economical?

A "good" market segment is identifiable,accessible and substantial.

What is the key drawback of using telephone surveys?

What is purchasing mentality?

Which of the following costs do NOT form a part of burden in determining customer lifetime value?

The focus group is best used to generate ideas,gain insights into customer needs/constraints and identify possible market opportunities.

What is a major disadvantage of online surveys?

Business managers have often noted that 20 percent of customers account for _____ percent of sales.

What is account retention?

Sellers often seek to secure a preferred position in the customer's mind through:

Business marketing research is a useful tool for both customer management AND new customer acquisition.

Introduction to Business Marketing

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Developing and Managing Offerings: What Do Customers

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters

Exam 5: Market Opportunities: Current and Potential

_____ involves partitioning the general need for a solution to a class of problems into smaller clusters involving distinct markets.

What is the limitation of using personal interview as a survey tool?

The volume of certain materials,logistical services or MRO goods can be compared to finished products output in a:

This involves hard thinking and analysis of how the product fits into the value-added process.

Classifying customers on the basis of _____,often leads to a breakdown featuring Fortune 500 firms,other named accounts,midsized firms and small businesses.

Which term refers to the practice of storing all of the firm's information on a centrally managed computer which may be accessed by authorized users firm wide?

The actual symbols,messages and media used in positioning campaigns become more important than what the customers perceive,believe and retain.

Business markets often comprise many customer firms.

Customer lifetime value:

To identify unmet customer needs for guiding new product development,which of the following face to face methods can be more economical?

A "good" market segment is identifiable,accessible and substantial.

What is the key drawback of using telephone surveys?

What is purchasing mentality?

Which of the following costs do NOT form a part of burden in determining customer lifetime value?

The focus group is best used to generate ideas,gain insights into customer needs/constraints and identify possible market opportunities.

What is a major disadvantage of online surveys?

Business managers have often noted that 20 percent of customers account for _____ percent of sales.

What is account retention?

Sellers often seek to secure a preferred position in the customer's mind through:

Business marketing research is a useful tool for both customer management AND new customer acquisition.

Introduction to Business Marketing

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Developing and Managing Offerings: What Do Customers

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters