Question 1

Victor Lorenz realizes that he needs a new car,so he has read through Consumer Reports and has visited selected dealerships to gather more information.According to the steps involved in a purchase decision,he is ready to

Accepted Answer

A)   weigh the various options that have come to light.
B)   make a choice.
C)   acknowledge that a problem exists.
D)   look for information that may include brand names and product characteristics.
E)   acquire the car. A

Question 2

Consumers are usually better informed than business buyers about the products they buy.

Accepted Answer

A) True 
 B)False  False

Question 3

A market segment toward which a company directs its marketing effort is called a

Accepted Answer

A)   marketing group.
B)   marketing sample.
C)   target market.
D)   consumer market.
E)   marketing median. C

Question 4

Emerson,an electronics manufacturer,purchases the wires it needs to make televisions and stereos from various wire manufacturers.Emerson is a part of which type of market?

Accepted Answer

A)   Institutional
B)   Governmental
C)   Consumer
D)   Producer
E)   Reseller

Question 5

Ben Harvey recently purchased a new boat.This type of purchase would be made using Ben's ____ income.

Accepted Answer

A)   gross
B)   personal
C)   disposable
D)   net
E)   discretionary

Question 6

​___ are generally better informed than consumers and consider a product's quality,its price,and the service provided by suppliers.

Accepted Answer

A)   ​Business buyers
B)   ​Institutional buyers
C)   ​Government buyers
D)   ​Elderly buyers

Question 7

Products that can be marketed successfully with the undifferentiated approach include sugar and

Accepted Answer

A)   cars.
B)   clothing.
C)   writing pens.
D)   flour.
E)   furniture.

Question 8

General Foods Corporation uses data such as sales figures,product and marketing costs,inventory levels,and activities of its sales force to make marketing decisions.The firm is using ____ data.

Accepted Answer

A)   internal
B)   external
C)   continual
D)   government
E)   economic

Question 9

From time to time,some of the activities within the eight major functions of marketing are eliminated to provide for a more effective marketing process.

Accepted Answer

A) True 
 B)False

Question 10

At Mattel,a marketing information system stores data on regional sales activities,promotional costs,and international inventory levels.These data are examples of external sources.

Accepted Answer

A) True 
 B)False

Question 11

Chrysler Corporation is designing a new sports car but is unsure of future demand for the product.Since it will take at least four years to bring the car to market,Chrysler requires ____ sales estimates at introduction and ____ sales estimates to determine future marketing requirements.

Accepted Answer

A)   medium-range;long-range
B)   short-range;medium-range
C)   short-range;long-range
D)   medium-range;short-range
E)   long-range;medium-range

Question 12

Is the business buyer or the individual consumer more likely to know more about the product being purchased? Support your answer.

Accepted Answer

The answer of Is the business buyer or the individual...

Question 13

A single marketing mix consists of one type of product with little or no variation,one price,one promotional program aimed at everyone,and ____ distribution system(s)to reach all customers in the total market.

Accepted Answer

A)   five
B)   four
C)   three
D)   two
E)   one

Question 14

Andrea works for a retail shop called Melody's Crafts 'N Things.Andrea was often quite rude to customers when they annoyed her.One morning,her supervisor asked Andrea into her office and informed her that her behavior was unacceptable.To be rude to one customer could cause several customers not to come back.Andrea's supervisor told her that retaining a customer is much cheaper than trying to get a new one.After their constructive discussion,Andrea's boss told her that she wanted her to go out on the floor that day and attempt to be more helpful to customers.
Over the next few months,Andrea began to help customers learn more about the different products in the store and often explained why the customer might want to purchase one product over another.In doing so,she realized the importance of her role in the retail shop and began to truly enjoy her job.She started to think about the future of the company.She even thought that the company could do very well if it were to sell its products on eBay.When she brought this idea to her boss,her boss thought it was excellent,and asked Andrea to look further into the pros and cons of her idea.
After evaluating Andrea's research,her boss decided to move forward with the idea,asking Andrea to head up this new venture for the company.Andrea then realized that retail is not just about making the sale;the customer should be the focus of all operations.Andrea now looks up to her boss,and is very glad that she was there to mentor her.
-Refer to Melody's Crafts 'N Things.Andrea should understand that all of the following are different types of utilities except

Accepted Answer

A)   form.
B)   time.
C)   possession.
D)   place.
E)   market.

Question 15

Organizations usually use only one method for forecasting sales.

Accepted Answer

A) True 
 B)False

Question 16

Greer,Inc.is developing a marketing information system to try to improve its marketing efforts.Internal sources of marketing data the company could incorporate in the MIS include all of the following except

Accepted Answer

A)   sales forecasts.
B)   economic conditions.
C)   inventory levels.
D)   purchase requests.
E)   prices of products.

Question 17

Kristy Martin is getting married on Saturday.She purchases flowers for the church ceremony early Saturday morning from a local flower shop.Which of the following types of utility is not created by this activity?

Accepted Answer

A)   Form
B)   Place
C)   Time
D)   Possession
E)   Ownership

Question 18

The four elements of the marketing mix are product,price,distribution,and promotion.

Accepted Answer

A) True 
 B)False

Question 19

Market segmentation means dividing consumers according to their wants,income,and geographic location.

Accepted Answer

A) True 
 B)False

Question 20

Leo buys products for personal and household use,not for business purposes.He is a

Accepted Answer

A)   consumer buyer.
B)   business buyer.
C)   institutional buyer.
D)   governmental buyer.

Exam 11: Building Customer Relationships Through Effective Marketing

Victor Lorenz realizes that he needs a new car,so he has read through Consumer Reports and has visited selected dealerships to gather more information.According to the steps involved in a purchase decision,he is ready to

Consumers are usually better informed than business buyers about the products they buy.

A market segment toward which a company directs its marketing effort is called a

Emerson,an electronics manufacturer,purchases the wires it needs to make televisions and stereos from various wire manufacturers.Emerson is a part of which type of market?

Ben Harvey recently purchased a new boat.This type of purchase would be made using Ben's ____ income.

___ are generally better informed than consumers and consider a product's quality,its price,and the service provided by suppliers.

Products that can be marketed successfully with the undifferentiated approach include sugar and

General Foods Corporation uses data such as sales figures,product and marketing costs,inventory levels,and activities of its sales force to make marketing decisions.The firm is using ____ data.

From time to time,some of the activities within the eight major functions of marketing are eliminated to provide for a more effective marketing process.

At Mattel,a marketing information system stores data on regional sales activities,promotional costs,and international inventory levels.These data are examples of external sources.

Chrysler Corporation is designing a new sports car but is unsure of future demand for the product.Since it will take at least four years to bring the car to market,Chrysler requires sales estimates at introduction and sales estimates to determine future marketing requirements.

Is the business buyer or the individual consumer more likely to know more about the product being purchased? Support your answer.

A single marketing mix consists of one type of product with little or no variation,one price,one promotional program aimed at everyone,and ____ distribution system(s) to reach all customers in the total market.

Organizations usually use only one method for forecasting sales.

Greer,Inc.is developing a marketing information system to try to improve its marketing efforts.Internal sources of marketing data the company could incorporate in the MIS include all of the following except

Kristy Martin is getting married on Saturday.She purchases flowers for the church ceremony early Saturday morning from a local flower shop.Which of the following types of utility is not created by this activity?

The four elements of the marketing mix are product,price,distribution,and promotion.

Market segmentation means dividing consumers according to their wants,income,and geographic location.

Leo buys products for personal and household use,not for business purposes.He is a

Exam 11: Building Customer Relationships Through Effective Marketing

Victor Lorenz realizes that he needs a new car,so he has read through Consumer Reports and has visited selected dealerships to gather more information.According to the steps involved in a purchase decision,he is ready to

Consumers are usually better informed than business buyers about the products they buy.

A market segment toward which a company directs its marketing effort is called a

Emerson,an electronics manufacturer,purchases the wires it needs to make televisions and stereos from various wire manufacturers.Emerson is a part of which type of market?

Ben Harvey recently purchased a new boat.This type of purchase would be made using Ben's ____ income.

​___ are generally better informed than consumers and consider a product's quality,its price,and the service provided by suppliers.

Products that can be marketed successfully with the undifferentiated approach include sugar and

General Foods Corporation uses data such as sales figures,product and marketing costs,inventory levels,and activities of its sales force to make marketing decisions.The firm is using ____ data.

From time to time,some of the activities within the eight major functions of marketing are eliminated to provide for a more effective marketing process.

At Mattel,a marketing information system stores data on regional sales activities,promotional costs,and international inventory levels.These data are examples of external sources.

Chrysler Corporation is designing a new sports car but is unsure of future demand for the product.Since it will take at least four years to bring the car to market,Chrysler requires ____ sales estimates at introduction and ____ sales estimates to determine future marketing requirements.

Is the business buyer or the individual consumer more likely to know more about the product being purchased? Support your answer.

A single marketing mix consists of one type of product with little or no variation,one price,one promotional program aimed at everyone,and ____ distribution system(s) to reach all customers in the total market.

Organizations usually use only one method for forecasting sales.

Greer,Inc.is developing a marketing information system to try to improve its marketing efforts.Internal sources of marketing data the company could incorporate in the MIS include all of the following except

Kristy Martin is getting married on Saturday.She purchases flowers for the church ceremony early Saturday morning from a local flower shop.Which of the following types of utility is not created by this activity?

The four elements of the marketing mix are product,price,distribution,and promotion.

Market segmentation means dividing consumers according to their wants,income,and geographic location.

Leo buys products for personal and household use,not for business purposes.He is a

___ are generally better informed than consumers and consider a product's quality,its price,and the service provided by suppliers.

Chrysler Corporation is designing a new sports car but is unsure of future demand for the product.Since it will take at least four years to bring the car to market,Chrysler requires sales estimates at introduction and sales estimates to determine future marketing requirements.