Question 1

Sarah found success as an entrepreneur by employing a relationship marketing strategy. The goal of this strategy is to

Accepted Answer

A)   use radio and television advertising to attract new customers.
B)   work closely with existing customers to better satisfy their wants and needs.
C)   target large market segments of potential customers by working closely with a variety of suppliers.
D)   communicate to buyers the advantages offered by your firm's low prices and standardized products.E) B) and C)
F) A) and C)

Question 2

The two major types of markets are the

Accepted Answer

A)   primary market and the secondary market.
B)   B2B market and the C2C market.
C)   consumer market and the B2B market.
D)   target market and the niche market.E) A) and D)
F) B) and C)

Question 3

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments?

Accepted Answer

A)   micro targeting
B)   narrowcast marketing
C)   focused marketing
D)   niche marketingE) A) and C)
F) B) and D)

Question 4

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

Accepted Answer

A)   Selling
B)   Advertising
C)   Marketing
D)   Mixing marketsE) B) and D)
F) All of the above

Question 5

A firm that uses ________ segmentation divides a market into groups based on life stage, race, or profession.

Accepted Answer

A)   benefit
B)   demographic
C)   value
D)   targetE) A) and B)
F) B) and C)

Question 6

A comparison of the marketing concept and customer relationship management indicates that customer relationship management

Accepted Answer

A)   and the marketing concept are in fact identical.
B)   attempts to improve profits by keeping quality high, while the marketing concept attempts to improve profits by a careful design of the promotional mix.
C)   turns the marketing concept upside down. The marketing concept emphasized that marketing was the most important function performed by a firm, but customer relationship management views management to be the most important function.
D)   extends the marketing concept by calling for the firm to learn more about its customers so that it not only satisfies them, but exceeds their expectations over time.E) B) and C)
F) All of the above

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Which of the following would best benefit the development of niche marketing?

Accepted Answer

A)   decline in the cost of advertising on radio and newspapers enabling firms to more efficiently reach a wide audience
B)   Supreme Court ruling that limits the market share individual firms in a market are allowed to serve
C)   growing acceptance of free-trade agreements such as NAFTA
D)   manufacturing improvement enabling firms to more efficiently design and produce specialized products for small groups of consumersE) B) and C)
F) A) and D)

Question 9

During the ________ era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

Accepted Answer

A)   prefabrication
B)   selling
C)   mass communication
D)   customer relationshipE) A) and C)
F) All of the above

Question 10

One-to-one marketing is seldom used in B2B markets.

Accepted Answer

A) True 
 B)False

Exam 13: Marketing: Helping Buyers Buy

The two major types of markets are the

Correct Answer
verified

A comparison of the marketing concept and customer relationship management indicates that customer relationship management

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

During the ________ era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

Correct Answer
verified

A firm that uses ________ segmentation divides a market into groups based on life stage, race, or profession.

Correct Answer
verified

Sarah found success as an entrepreneur by employing a relationship marketing strategy. The goal of this strategy is to

Correct Answer
verified

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments?

Correct Answer
verified

One-to-one marketing is seldom used in B2B markets.

Correct Answer
verified

Which of the following would best benefit the development of niche marketing?

Correct Answer
verified

Exam 13: Marketing: Helping Buyers Buy

The two major types of markets are the

Correct AnswerverifiedShow Answer

A comparison of the marketing concept and customer relationship management indicates that customer relationship management

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

During the ________ era, the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

Correct AnswerverifiedShow Answer

A firm that uses ________ segmentation divides a market into groups based on life stage, race, or profession.

Correct AnswerverifiedShow Answer

Sarah found success as an entrepreneur by employing a relationship marketing strategy. The goal of this strategy is to

Correct AnswerverifiedShow Answer

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments?

Correct AnswerverifiedShow Answer

One-to-one marketing is seldom used in B2B markets.

Correct AnswerverifiedShow Answer

Which of the following would best benefit the development of niche marketing?

Correct AnswerverifiedShow Answer

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