Deck 11: Customer-Driven Marketing

Question 1

Products are either marketed to the B2B market or the B2C market, but never to both.

Answer 1

False

Question 2

Martin goes to his favorite local bakery and hands the cashier $2 for a muffin. What has just taken place?

A) a trade
B) a transfer
C) a donation
D) an exchange
E) a conversion

Answer 2

an exchange

Question 3

Beth and Tom are celebrating their 10-year wedding anniversary and have decided to celebrate by going on a dinner cruise. Tom goes to the website "Dinner on the Dock" to book the cruise and pays for it with his credit card. This is an example of a(n)

A) barter.
B) transfer.
C) conversion.
D) service fee.
E) exchange.

Answer 3

exchange.

Question 4

Lucia went to a new salon in the area to get her hair cut and colored. However, the stylist cut her hair shorter than she wanted and wouldn't use the bold red color Lucia wanted. As a result, Lucia did not feel good about her purchase. What does this most likely mean for the future of this exchange relationship?

A) Lucia will find a new style and color for her next trip to the salon.
B) Lucia will return to the same stylist for her next cut and color.
C) Lucia is not likely to get her hair cut and colored again anytime soon.
D) Lucia will go to a different salon and stylist for her next cut and color.
E) Lucia will refuse to pay for the cut and color she just received.

Question 5

Alfonso and Jorge both collect baseball cards. Alfonso has a valuable and rare card that Jorge has been wanting for a long time. What must Jorge do to convince Alfonso to part with this card?

A) Jorge must find a clever way to steal Alfonso's valuable and rare card.
B) Jorge must trick Alfonso into giving up his valuable and rare card.
C) Jorge must offer Alfonso something he values enough to give up his valuable and rare card.
D) Jorge must simply have something valuable to exchange for Alfonso's valuable and rare card.
E) Jorge must hide the fact that he wants Alfonso's valuable and rare card.

Question 6

The Coffee Clutch is a small, local company that, in addition to making delicious coffee drinks, offers its customers live music, open microphone nights, free Internet access, and comfortable seating so they can enjoy their coffee with friends or while working. In the case of this company, which statement is most likely true?

A) The tangible product itself is the most important thing this company offers its customers.
B) All of the items this company offers its customers are tangible products.
C) All of the items this company offers its customers are intangible things of value.
D) Most of this company's income comes from selling intangible items.
E) The tangible product itself may not be as important as the benefits associated with the product.

Question 7

Sarah has produced 1,000 jars of raspberry jam, using the homegrown raspberries from her field. By concentrating her efforts on advertising and publicity, she is trying to encourage people to notice and buy her product. Through her promotional activities, Sarah is primarily engaging in the marketing function of

A) financing.
B) grading.
C) warehousing.
D) buying.
E) selling.

Question 8

Larry has a farm where he grows fresh vegetables and fruit. The process he uses to move the produce to the local farmer's market where he will sell them to customers is the marketing activity known as

A) transporting.
B) storing.
C) freighting.
D) grading.
E) inventorying.

Question 9

Deborah owns a rustic furniture store in New Hampshire. When customers buy her unique furniture pieces, she arranges a time for her employees to deliver the furniture to their homes using her delivery truck. This is an example of

A) selling.
B) transporting.
C) grading.
D) storing.
E) buying.

Question 10

Ben is the marketing manager of a large department store that sells a variety of household appliances, including refrigerators, washing machines, and stoves. What might Ben do to help customers finance these large, expensive items?

A) standardize the products
B) offer free delivery
C) focus advertising on product benefits
D) mark up regular prices to make sale prices more attractive
E) arrange credit

Question 11

Through ________, marketers ascertain the need for new goods and services.

A) selling activities
B) grading activities
C) marketing research
D) promotions
E) campaigns

Question 12

Olga is shopping for a new laptop computer. All the computer brands offer laptops with standard screens and keyboards, but each brand offers different software packages, memory amounts, processor speeds, hard drive sizes, and operating systems. Olga notices that the price of laptops varies depending on the features they include. In order to choose the best laptop computer for her, Olga will most likely

A) buy whichever laptop is currently on sale and hope for the best.
B) buy whichever laptop the salesclerk at the store recommends, regardless of features and price.
C) follow the recommendations of the computer technician at work, regardless of features and price.
D) judge which type of laptop is best for her based on the commercials she sees on television.
E) judge which type of laptop offers her the best value according to the benefits she wants and her ability to pay for those benefits.

Question 13

Preston decides to buy a new car. He does a lot of research online and goes to several car dealerships to test drive cars. He finally decides on a car to purchase, but, in order to buy it, Preston must take out a loan. He also must get the car inspected and registered before he can start driving it. In this scenario, which is a nonmonetary cost associated with Preston's car purchase?

A) the interest rates on the car loan
B) the registration fees paid on the car
C) the inspection fees paid on the car
D) the monthly installments on the car loan
E) the time taken to test drive various car models

Question 14

For greater accessibility, Bowen Tools places its products at every popular superstore. The convenience provided by the company is an example of reducing ________ costs.

A) nonmonetary
B) tangible
C) variable
D) fixed
E) overhead

Question 15

Marissa owns an equestrian clothing store. After many customers complained that her clothing only fit petite riders, she decided to add a new brand of riding clothes that makes clothing for all body shapes and sizes. In regard to the marketing concept, which statement describes Marissa's decision?

A) Since customers' needs change so continuously, companies should not make drastic changes to their product lines to satisfy momentary customer desires.
B) Before altering, adapting, or developing products to keep pace with changing consumer needs and wants, companies should wait to make sure these needs and wants will be long lasting.
C) Companies must adapt their product lines to fulfill customers' needs and wants, even if doing so prevents them from achieving their own objectives.
D) To remain competitive, companies must be prepared to add to or adapt their product lines to satisfy customer desires.
E) Adding to or adapting product lines is expensive, so companies must carefully weigh their options before choosing to make such drastic changes.

Question 16

The Car Lot is a large car dealership. It could sell its cars for $500 and give customers a lifetime guarantee, but based on the marketing concept, why shouldn't it do this?

A) The company should strike a balance between achieving organizational objectives and satisfying customers.
B) Customers would likely suspect a trick and not purchase the company's cars.
C) Customers want to feel like they are buying high quality products, and pricing this low would make them question the value of the cars.
D) If cars were priced this low, everyone would buy them, and customers don't want to buy the same products that everyone else has.
E) This pricing strategy benefits the company by guaranteeing more sales, but it doesn't benefit the customers.

Question 17

Which orientation in the evolution of the marketing concept was characterized by the supply of manufactured goods catching up with and then exceeding demand, leading businesspeople to realize they would have to promote their products to get buyers to desire them?

A) production
B) trade
C) sales
D) market
E) demand

Question 18

Michael worked for a textile manufacturer during the first half of the 20th century. When the supply of his company's textiles exceeded customer demand, he realized that he would have to invest more money in advertising his products and go directly to his customers to convince them to purchase his products. Based on this scenario, Michael has most likely adopted the ________ orientation.

A) sales
B) market
C) production
D) product
E) pricing

Question 19

Victoria is a marketing manager. A large part of her role is trying to assess what customers want and building long-term relationships with customers. What would likely complicate Victoria's job?

A) Her company's success depends on continuously finding new customers.
B) Trends, fashions, and tastes can change quickly.
C) She must use complicated technology to manage her customer relationships.
D) It is impossible to assess what customers want.
E) Spending too much time on customer relationship management could destroy her company.

Question 20

According to the market orientation, profits can be obtained through

A) personal selling and advertising.
B) dismissing customer relationship management.
C) mass producing goods for customers.
D) acquiring new customers.
E) persuading customers that they need certain goods.

Question 21

Quentin owns a computer store that sells new and used computers and has a service department. When customers buy computers at his store, he offers a service package at a discounted rate. Additionally, he has an ongoing promotion that allows customers to trade in their old computers for new ones at much lower prices than his competitors can offer. He is able to do this because his service department can fix customers' old computers, which allows him to resell them to other customers. Based on this scenario, Quentin is focused on

A) using new technologies to manufacture goods with ever increasing efficiency.
B) using new management ideas and ways of using labor to pour products into the marketplace.
C) increasing profits through personal selling and advertising.
D) enhancing the profitability of existing customers and extending the duration of customer relationships.
E) finding new customers to buy his products.

Question 22

Because it provides a way for businesses to personalize customer relationships, ________ is a major element of any strategy to develop and manage long-term customer relationships.

A) advertising
B) Internet selling
C) negotiation
D) mass production
E) communication

Question 23

Kellen wants to start a new copyediting business. He identifies his target market as publishing companies that outsource their copyediting projects. Now that he has identified his target market, what must he do next?

A) hire talented copyeditors
B) pursue contracts with publishing companies
C) implement the marketing concept
D) rent an office to house his business
E) develop an appropriate marketing mix

Question 24

Precision Movement Inc. is a company that markets its products-luxury wristwatches-exclusively to high-income individuals and celebrities. Thus, high-income individuals and celebrities are most likely Precision Movement Inc.'s

A) total market.
B) control group.
C) reference group.
D) target market.
E) secondary market.

Question 25

Total Auto Parts manufactures engines, brakes, mufflers, and batteries and sells them to car manufacturers. This is an example of

A) total marketing.
B) market segmentation.
C) business-to-business marketing.
D) business-to-consumer marketing.
E) target marketing.

Question 26

Home and More sells rugs, art, lamps, and other decorative pieces to homeowners, so they can express their personal styles in their homes. This is an example of

A) total marketing.
B) market segmentation.
C) business-to-business marketing.
D) business-to-consumer marketing.
E) target marketing.

Question 27

Eclectic Furniture produces and sells unique furniture pieces to both individual homeowners and hotels. As a result, this company's products can be considered

A) total-market products.
B) segmented products.
C) consumer products.
D) business products.
E) both consumer and business products.

Question 28

What is a challenge marketers in the United States will face in the future?

A) effectively addressing an increasingly racially diverse population
B) effectively addressing the decline in women as a market segment
C) developing products to reach the growing white male population
D) focusing their efforts on the total market, rather than specific target markets
E) effectively dealing with the decline of minority groups' buying power

Question 29

The Golden Group is a group of luxury hotels that caters exclusively to high-end customers who form a small part of the market and are willing to pay for luxurious amenities. The hotel has incorporated all possible luxuries to satisfy these customers. The marketing approach employed by The Golden Group best exemplifies

A) niche marketing.
B) multisegment marketing.
C) mass marketing.
D) the total-marketing approach.
E) the contingency approach.

Question 30

A skin care company develops face creams for different generations of customers-an acne treatment cream for adolescents and a wrinkle-reducing cream for older people. These face creams were developed on the basis of ________ segmentation.

A) psychographic
B) demographic
C) behavioristic
D) geographic
E) class

Question 31

An automobile company manufactures different cars for different market segments. It markets its SUVs for customers who live in the mountains, sedans for customers in the coastal plains, and smaller hatchback cars for those in big cities. In this scenario, the company is primarily using ________ variables of market segmentation.

A) demographic
B) psychographic
C) geographic
D) behavioristic
E) ethnographic

Question 32

A golf club manufacturer has separate product lines for male and female golfers. It manufactures several types of golf clubs geared to each segment. Which basis of market segmentation is this company using?

A) demographic
B) ethnographic
C) geographic
D) behavioristic
E) psychographic

Question 33

A beverage manufacturing company has placed its products strategically in areas where the population density is high. This is an example of ________ segmentation.

A) demographic
B) psychographic
C) geographic
D) behavioristic
E) ethnographic

Question 34

Guilt-Free Sweets is a bakery that produces all gluten-free baked goods to target customers who have trouble digesting gluten but still want to be able to enjoy tasty treats. What type of segmentation is this company using?

A) demographic segmentation
B) geographic segmentation
C) psychographic segmentation
D) benefit segmentation
E) lifestyle segmentation

Question 35

Strength and Fitness Gym provides its clients with personal training sessions, small group exercise classes, fitness machines and weights to use, and a separate kids' gym with day care specialists, so members can bring their children to the gym with them. These items are most closely associated with the ________ aspect of the marketing mix.

A) process
B) distribution
C) price
D) promotion
E) product

Question 36

An oil company wants to increase customer demand for oil. What can the company do to accomplish this?

A) make sure its oil is cleaner than his competitors' oil
B) advertise that its oil prices are the same as competitors' prices
C) keep the price of its oil consistent
D) increase the price of its oil
E) reduce the price of its oil

Question 37

Small Treasure Gifts is deciding whether to sell its products in kiosks outside subway stations or in stores at popular malls. What element of the marketing mix does this decision most closely relate?

A) price
B) distribution
C) promotion
D) product
E) process

Question 38

A fashion clothier is contemplating whether to sell its products in brick and mortar stores or to sell them at its online store. What element of the marketing mix does this decision most closely relate?

A) price
B) process
C) promotion
D) product
E) distribution

Question 39

A systematic, objective process of getting information about potential customers to guide marketing decisions is referred to as

A) the promotion strategy.
B) the marketing concept.
C) market segmentation.
D) marketing research.
E) a marketing strategy.

Question 40

Rich runs a home improvement business. He is happy with the level of business he receives, but he wants to learn more about his customers, so he studies information compiled by the U.S. census bureau and other government agencies, databases created by marketing research firms, and sales and other internal reports. What kind of data is Rich using in this scenario?

A) ethnographic data
B) complex data
C) simple data
D) primary data
E) secondary data

Question 41

Valerie is a marketer for an online shoe store. An important task she performs regularly is measuring the website's traffic and performance. This task is known as

A) primary research.
B) secondary research.
C) virtual testing.
D) marketing analytics.
E) social networking.

Question 42

Every year, Les has bought a calendar to keep track of his appointments and events. However, this year, he bought a smartphone, which has a built in calendar, so he did not buy a new paper calendar. Which psychological variable does this scenario most closely describe?

A) perception
B) motivation
C) attitude
D) personality
E) learning

Question 43

Micah, Felicity, and Jasmine have developed a common pattern of behavior. They all own large houses, drive fancy cars, and belong to an elite country club. Micah, Felicity, and Jasmine most likely belong to the same

A) personality group.
B) cultural group.
C) social role.
D) social class.
E) generational class.

Question 44

Lucia is a Hispanic American who manages a Mexican food restaurant. She often eats the food her restaurant sells, and several times a year, she travels to Mexico to visit her family and eat authentic Mexican cuisine. Which social variable does this scenario most closely describe?

A) attitude
B) social role
C) social class
D) culture
E) self-efficacy

Question 45

Which is an example of how a person's social role can influence his or her buying behavior?

A) Betsy just moved to a new town, so she asked one of her neighbors how to get to the grocery store.
B) Dylan just got a new job, so he asked his boss to recommend a place to get lunch.
C) Monica has five children, so she bought a station wagon.
D) Pete is from a wealthy family, so he bought his girlfriend a flashy engagement ring.
E) Michelle doesn't make a lot of money, so she does most of her shopping at consignment stores.

Question 46

What is a social role that a person may have?

A) a reference
B) a student
C) an attitude
D) a culture
E) a class

Question 47

Matrix Clothing Inc. decides to launch its premium line of clothing and bags in a country that is experiencing increasing purchasing power and per capita income by its residents. Which environmental force primarily influenced Matrix Clothing Inc.'s decision?

A) technological
B) legal
C) religious
D) political
E) economic

Question 48

Which factor is a social force that influences the marketing environment?

A) computers and technological advances
B) the public's opinions about the environment
C) purchasing power
D) unemployment
E) political actions of interest groups

Question 49

Aiden's music store developed a smartphone application to improve its distribution, promotion, and new-product development. In this scenario, Aiden's store is using ________ forces.

A) technological
B) social
C) economic
D) competitive
E) political

Question 50

Political, legal, regulatory, social, competitive, economic, and technological forces comprise the

A) marketing mix.
B) marketing concept.
C) marketing strategy.
D) business plan.
E) marketing environment.

Question 51

A consumer electronics company wants to implement a multisegment approach to market segmentation. What requirements must be met to ensure that the strategy is successful?

Question 52

Delineate the psychological variables of buying behavior.

Question 53

How do businesses and the society benefit from marketing?