Deck 13: Marketing: Helping Buyers Buy

Question 1

Customer relationship management (CRM)is the process of learning as much as possible about customers and doing everything you can to satisfy them.

Answer 1

True

Question 2

During the early 1900s,businesses emphasized learning as much as possible about their customers and doing everything to satisfy them.

Answer 2

False

Question 3

After World War II,the tremendous demand for goods and services among the returning veterans allowed businesses to sell whatever they produced without having to worry about what the competition was doing.
Competition for the consumer's dollar was fierce after World War II.This competition forced businesses to be more responsive to consumers,leading to the emergence of the marketing concept.

Answer 3

False

Question 4

In the evolution of marketing,the production era assumed an unlimited market.

Question 5

In the production era the greatest marketing need was for distribution and storage.

Question 6

The marketing concept emphasizes that everyone from the president of the firm to the delivery people should be customer oriented.

Question 7

an advertising orientation.

Question 8

In the evolution of marketing,the marketing concept era emphasized selling and advertising in an effort to persuade consumers to buy existing products.

Question 9

Outstanding service after the sale was a primary focus of businesses during the selling era.

Question 10

The marketing concept was used heavily by business when it was first suggested in the 1950s.

Question 11

Marketing is the activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have a value for customers,clients,partners,and society at large.

Question 12

The tremendous demand for consumer goods and services after World War II helped launch the production era of marketing.

Question 13

Because the marketing concept emphasizes a profit orientation,marketing has not been used successfully by nonprofit organizations.

Question 14

The activities of marketers depend on what needs to be done to satisfy consumer wants and needs,in other words,helping the buyer buy.

Question 15

During the selling era,businesses turned from an emphasis on production to an emphasis on selling.

Question 16

It is the job of marketers today to persuade consumers to buy the goods and services those marketers have available to sell.
Although marketers in the 1920s might agree with this statement,marketing today is about learning as much as possible about customers and then exceeding their expectations and helping them buy.

Question 17

The four eras of the evolution of marketing are (1) production, (2) selling, (3) advertising, and (4) stakeholder relationships.

Question 18

The idea behind customer relationship management is to enhance customer satisfaction and stimulate long-term customer loyalty.

Question 19

The focus of the production era was on distribution and advertising.

Question 20

The primary focus of marketing today is on selling and advertising.

Question 21

The main concern of the marketing mix is to please firm's stockholders.

Question 22

A test market refers to the people in a market that will be least likely to use the product or service the marketer is offering.

Question 23

Providing people with a description of a potential new good or service and asking if the idea appeals to them are key parts of the marketing process.

Question 24

The four elements of the marketing mix are product,production,price,and predictability.

Question 25

A firm's copyright consists of the words or letters used to differentiate their goods and services from those of competitors.

Question 26

The McDonald's Foundation is a nonprofit organization that helps underprivileged children.As a nonprofit organization,it should avoid performing marketing functions,since these functions are designed to help organizations earn a profit.
Although the marketing concept does emphasize a profit orientation,marketing functions must be performed by almost all organizations,including those that do not seek a profit.

Question 27

Placing a product in a location where people will buy it is part of the marketing mix.

Question 28

According to the Thinking Green box in Chapter 13,the use of specific Web sites shifts the marketing task in the automobile industry from helping the seller sell to helping the buyer buy.

Question 29

A brand name is generally thought of as part of the product.

Question 30

The marketing manager's job is to design a program that effectively combines the ingredients of the marketing mix.

Question 31

Concept testing involves placing a product in a place where consumers will buy it.

Question 32

Test marketing involves developing an accurate description of the product and asking people if the proposed product appeals to them.

Question 33

Sales representatives at the HomeWork Helper Appliances Store work hard to develop a close relationship with their customers and to provide satisfaction even after the sale.These efforts by HomeWork Helper's sales personnel are part of the marketing process.
Today,marketing has adopted the concept of customer relationship management.This concept calls for learning as much about customers as possible and doing everything possible to satisfy them with goods and services over time.

Question 34

The marketing efforts at Rotary Enterprises place a great deal of emphasis on marketing goods that will earn the firm a profit.This focus on profit orientation shows that Rotary's has not yet adopted the marketing concept that emphasizes a customer orientation rather than a profit orientation.
The marketing concept has three parts: a customer orientation,a service orientation,and a profit orientation.The customer orientation and profit orientation components are not mutually exclusive,since firms are unlikely to earn a profit unless they are responsive to the needs of their customers.

Question 35

Setting a price for the product or service is one element of the marketing mix.

Question 36

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

Question 37

The marketing process includes decisions about the best way to get the product to the consumer.

Question 38

Mike's Auto Repair works hard to find out what customers want and how to best meet their needs.Based on feedback from customers,Mike now provides a written estimate before any work is done,offers a more comprehensive guarantee than competitors,and calls customers after servicing their cars to make sure they are satisfied.These efforts suggest Mike is applying the concepts of customer relationship management.
Customer relationship management is a concept that calls for learning as much as possible about customers and doing what it takes to satisfy and even delight them.

Question 39

Designing a want-satisfying product is part of the marketing mix.

Question 40

Identifying a target market is one of the key steps of the marketing process.

Question 41

The marketing mix provides a detailed market analysis to determine opportunities and challenges as well as information needed to make good decisions.

Question 42

Unlike advertising,which is part of the promotional component of the marketing mix,personal selling is considered to be part of the distribution function.

Question 43

The most important component of the marketing mix is the actual design and production of the product.
The marketing mix involves decisions about product development,pricing,distribution,and promotion.However,the actual production process is not part of marketing.

Question 44

Setting prices higher than the competition can help create an image of quality.

Question 45

Secondary data should be gathered first because this type of information is less expensive to obtain.

Question 46

The last step in the marketing process often includes building a continuing relationship with customers.

Question 47

The first step in the marketing research process is to collect relevant data.

Question 48

Marketing is a one-time activity,performed when a business is first established and introducing product in the market.Once a firm has fine-tuned its marketing activities,it can turn its attention elsewhere.
Marketing is an ongoing process.Companies must continually adapt to changes in consumer wants and needs in order to remain competitive.

Question 49

Effective marketing research involves listening to customers,employees,shareholders,and other stakeholders.

Question 50

Getting the product from the producer to the consumer is a production-related process and not related to the marketing mix.
Distribution is one component in the marketing mix.

Question 51

Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.
One of the 4 Ps in the marketing mix is "place" which refers to the marketer's role in distributing goods and services.

Question 52

Secondary data consists of information that has already been compiled by others and is published in journals and books or made available online.

Question 53

Marketing research helps determine what customers have purchased in the past,what situational changes have occurred to change consumer preferences,and what consumers are likely to want in the future.

Question 54

Intermediaries are firms in the middle of a series of organizations that distribute goods from producers to consumers.

Question 55

The marketing activities of an organization involve the evaluation of alternatives to finance that organization's activities.
Marketing involves the four elements of the marketing mix: product,price,place,and promotion.Decisions about the best way to fund an organization's activities are the responsibility of financial managers.

Question 56

Given today's marketing environment,marketing managers must constantly adjust the four P's of the marketing mix.
Marketing is an ongoing process.Companies must continually adapt to changes in customer wants and competitive pressures.

Question 57

Marketers are concerned with selling goods and services,and therefore are not involved in designing the products their firm will sell.
One of the four elements of the marketing mix is the design of a want-satisfying product.

Question 58

Marketing focuses on the pricing and distribution of want-satisfying products,as well as determining the best way to promote the products to consumers.
Marketing is concerned with product,price,promotion,and distribution.These are the major components of the marketing mix for the firm.

Question 59

For safety sake,an organization should produce as many products as possible since customers are not a good source of informing the organization what they want to buy.
Customers are very important sources in telling the firm what to produce to meet their needs.

Question 60

Promotion includes personal selling,publicity,and word-of-mouth efforts to persuade people to buy a firm's goods or services.

Question 61

Eavesdrop Communications just finished a telephone survey of several of their current customers.They plan to conduct in-depth personal interviews with about twenty additional customers.Both the telephone survey and the interviews are sources of primary data for Eavesdrop.
Primary data are facts and figures not previously published that marketers gather for their own use.Telephone,online,and mail surveys and personal interviews are common ways to obtain primary data.

Question 62

The most dramatic global change affecting a firm's marketing environment is probably the growth of the Internet.

Question 63

A telephone or online survey is an example of primary data collection.

Question 64

According to the Reaching Beyond Our Borders box in Chapter 13,one secret to global success is a social marketing campaign that uses online chats and blogging to stay close to consumers during all hours of the day.

Question 65

Marketers use very detailed surveys to gather secondary data.

Question 66

A focus group consists of a small group of people who meet,under the direction of a discussion leader,to communicate their opinions about an organization,its products,or other issues.

Question 67

The secondary data collected in the research process does not need to be carefully evaluated since it's always collected from reliable secondary sources.
The secondary data collected in the research process might be turned into useful information.However,since this data has been collected from outside sources and can often be old,companies must be very careful relying on secondary data.

Question 68

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.

Question 69

Marketing research usually begins with secondary data because it is more accurate and more relevant than primary data.
Marketers often do look at secondary data first,but not because it is more accurate and relevant.The main advantage of secondary data is that it is already published and is less expensive than primary data.

Question 70

Because accurate and timely market information is vital to a firm's success,businesses should budget whatever it takes to get the best data available.
Research can be very expensive.The decision about how much to spend obtaining market information must compare with the need for the additional information against the costs the firm must incur to obtain that information.

Question 71

Population growth and changing demographics are two elements of a firm's socio-cultural environment.

Question 72

Consumer databases,blogs,and social networking are some of the technological factors that are used by marketers to develop goods and services.

Question 73

Government publications,such as the Annual Survey of Manufacturers and Survey of Current Business,are reliable sources of detailed primary data.

Question 74

Whenever available,marketers should rely exclusively on primary data because it is much more accurate than secondary data.
When doing research,marketers must be aware of the trade-off between information needs and the cost.Marketers can reduce costs by looking for relevant secondary data before gathering primary data.Since secondary data has already been published,it is available without the additional effort and expense needed to obtain primary data.

Question 75

Peggy,a fitness instructor at the local YMCA,has been invited by a magazine publisher to meet with nine other people to discuss a new concept for a health and fitness magazine.A member of the publisher's marketing staff will be at the meeting to guide the discussion and to record the participants' comments and suggestions.If Peggy accepts the invitation,she will be participating in a focus group.
A focus group is a popular research method in which a small group of people meet under the direction of a discussion leader to communicate their opinions about an organization,its products,or other important issues.

Question 76

The final step of the marketing research process involves selecting from several alternative strategies,and performing follow-up research to see if results were as expected.

Question 77

The process of identifying the factors that can affect marketing success is called environmental scanning.

Question 78

Marketing research is a process that most firms complete once a year,in order to gather information for the firm's budgeting process.

Question 79

Environmental scanning is a green concept that involves the tracking of pollution generated by a firm and its impact on society.

Question 80

In the marketing research process,marketers should examine all the implications of alternative solutions before making a recommendation.