Question 1

During the 1950s,the marketing concept began to develop as business managers recognized that they were not primarily producers or sellers but rather were in the business of

Accepted Answer

A)  satisfying customers' needs. 
B)  researching new technologies. 
C)  developing human resources. 
D)  developing corporate cultures. 
E)  creating positive public relations.

Question 2

One way to segment a market is according to whether the purchaser is a consumer or a business-to-business user.

Accepted Answer

A) True 
 B)False

Question 3

General Mills is setting up a marketing information system to keep track of marketing trends.External sources of marketing data include all of the following except

Accepted Answer

A)  raw material suppliers. 
B)  forecasts about general economic conditions. 
C)  the company's historical sales data. 
D)  customers. 
E)  competitors' activities.

Question 4

From the start of the Industrial Revolution until the early twentieth century,business had a strong production orientation.

Accepted Answer

A) True 
 B)False

Question 5

What does it mean for a firm to have a strong production orientation? How does this differ from the marketing concept?

Accepted Answer

The answer of What does it mean for a firm...

Question 6

A marketing information system manages information from both internal and external sources.

Accepted Answer

A) True 
 B)False

Question 7

A fairly recent technology-related tool that many companies use to solicit feedback from customers about the company's existing or upcoming products is

Accepted Answer

A)  social media. 
B)  sales forecasts. 
C)  consumer buying behavior. 
D)  market segmenting. 
E)  customer relationship management.

Question 8

A marketing plan is a written document that specifies an organization's resources,objectives,and strategy.

Accepted Answer

A) True 
 B)False

Question 9

Pepsi wants to determine how popular its new soft drink will be before launching it nationwide.What will Pepsimost likely use?

Accepted Answer

A)  Its marketing information system 
B)  External data 
C)  Internal data 
D)  Marketing research 
E)  Employee survey

Question 10

Federated Insurance wants to expand its line of life insurance products by introducing a new policy.In keeping with the marketing concept,it likely will research all of the following except

Accepted Answer

A)  what price level is acceptable to customers. 
B)  what features potential customers are most interested in. 
C)  who the major competitor's most recent buyers are. 
D)  what promotional activities will best illustrate the new product's benefits. 
E)  where the product should be distributed.

Question 11

Topps,a company that produces baseball cards,develops its products to appeal primarily to males who are baseball fans.This group is Topps's

Accepted Answer

A)  business-to-business market. 
B)  market segmentation. 
C)  promotion strategy. 
D)  target market. 
E)  marketing mix.

Question 12

Which of the following is least likely to be a factor in developing a sales forecast?

Accepted Answer

A)  Geographic area in which the product is sold 
B)  Last year's sales 
C)  Entire product line 
D)  Number of salespeople employed by the firm's major competitors 
E)  Expected level of marketing effort

Question 13

The exchange function involves buying,selling,and transporting.

Accepted Answer

A) True 
 B)False

Question 14

Teenagers spend billions of dollars on stereo equipment and compact discs.They have the ability,willingness,and authority to purchase such products because of their perceived need.These teenagers are an example of a(n)____ market.

Accepted Answer

A)  consumer 
B)  business-to-business 
C)  producer 
D)  governmental 
E)  institutional

Question 15

There are four kinds of utility: time,form,place,and price.

Accepted Answer

A) True 
 B)False

Question 16

Long-range marketing plans typically cover two years.

Accepted Answer

A) True 
 B)False

Question 17

When Coca-Cola decides to develop a new product,it creates the product itself,determines the price the new product will sell for,decides how to distribute the product to consumers,and develops a promotion campaign to inform the market of the new product.Coca-Cola has created a(n)

Accepted Answer

A)  marketing strategy. 
B)  consumer market. 
C)  undifferentiated approach. 
D)  market segmentation. 
E)  marketing mix.

Question 18

Business-to-business markets include all of the following except ____ markets.

Accepted Answer

A)  producer 
B)  governmental 
C)  institutional 
D)  financial 
E)  reseller

Question 19

What are the major steps in the consumer buying decision process? Describe the factors that are believed to affect this process.

Accepted Answer

The answer of What are the major steps in the...

Question 20

The effects of economic conditions on consumers' ability and willingness to buy would best be called ____ forces.

Accepted Answer

A)  technological 
B)  sociocultural 
C)  competitive 
D)  economic 
E)  legal and regulatory

Exam 11: Building Customer Relationships Through Effective Marketing

During the 1950s,the marketing concept began to develop as business managers recognized that they were not primarily producers or sellers but rather were in the business of

One way to segment a market is according to whether the purchaser is a consumer or a business-to-business user.

General Mills is setting up a marketing information system to keep track of marketing trends.External sources of marketing data include all of the following except

From the start of the Industrial Revolution until the early twentieth century,business had a strong production orientation.

What does it mean for a firm to have a strong production orientation? How does this differ from the marketing concept?

A marketing information system manages information from both internal and external sources.

A fairly recent technology-related tool that many companies use to solicit feedback from customers about the company's existing or upcoming products is

A marketing plan is a written document that specifies an organization's resources,objectives,and strategy.

Pepsi wants to determine how popular its new soft drink will be before launching it nationwide.What will Pepsimost likely use?

Federated Insurance wants to expand its line of life insurance products by introducing a new policy.In keeping with the marketing concept,it likely will research all of the following except

Topps,a company that produces baseball cards,develops its products to appeal primarily to males who are baseball fans.This group is Topps's

Which of the following is least likely to be a factor in developing a sales forecast?

The exchange function involves buying,selling,and transporting.

Teenagers spend billions of dollars on stereo equipment and compact discs.They have the ability,willingness,and authority to purchase such products because of their perceived need.These teenagers are an example of a(n) ____ market.

There are four kinds of utility: time,form,place,and price.

Long-range marketing plans typically cover two years.

When Coca-Cola decides to develop a new product,it creates the product itself,determines the price the new product will sell for,decides how to distribute the product to consumers,and develops a promotion campaign to inform the market of the new product.Coca-Cola has created a(n)

Business-to-business markets include all of the following except ____ markets.

What are the major steps in the consumer buying decision process? Describe the factors that are believed to affect this process.

The effects of economic conditions on consumers' ability and willingness to buy would best be called ____ forces.