Question 1

Firms that adopt a relationship marketing strategy attempt to:

Accepted Answer

A)   develop products that meet the specific requirements of individual customers.
B)   maximize their market share by designing products that appeal to large numbers of customers.
C)   develop their promotional efforts utilizing mass media such as television, newspapers and radio in order to relate to a large audience.
D)   maximize market share by controlling production costs and maintaining low prices.E) A) and C)
F) None of the above

Question 2

Which of the following is part of the marketing process?

Accepted Answer

A)   Developing an understanding of company finances available for new products
B)   Determining an appropriate brand name for a new product
C)   Designing the most efficient method of production of a new product
D)   Contacting suppliers after a purchase to ensure producer satisfactionE) A) and C)
F) B) and C)

Question 3

Contacting customers after a sale to reassure them that they made the right decision is intended to offset:

Accepted Answer

A)   reverse satisfaction.
B)   cognitive dissonance.
C)   doubt resolution.
D)   relationship conflict.E) All of the above
F) C) and D)

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Holly is a sophomore in college considering a degree in marketing. She has asked several friends for advice and their comments are listed below. Which of these comments is the most accurate and likely to help Holly?

Accepted Answer

A)   Marketing offers business students a wide array of career options.
B)   Majoring in marketing rules out a meaningful career with a nonprofit organization.
C)   You should major in marketing only if you want to work in advertising or personal selling.
D)   Marketing is a career that offers stability, good pay and ample employment opportunities. Marketing activities today are essentially the same as they were several decades ago.E) B) and D)
F) A) and D)

Question 6

Describe the steps involved in conducting marketing research.

Accepted Answer

There are four steps in the marketing re...

Question 7

The purchase of a cash register is likely a B2B product.

Accepted Answer

A) True 
 B)False

Question 8

The significant increase in consumer demand following World War II marked the beginning of the:

Accepted Answer

A)   production era.
B)   selling era.
C)   marketing concept era.
D)   customer relationship era.E) None of the above
F) All of the above

Question 9

With careful attention to controlling costs and quality, businesses can successfully satisfy consumers with a standardized product for different markets.

Accepted Answer

A) True 
 B)False

Question 10

A ___________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations.

Accepted Answer

A)   market
B)   profit
C)   customer
D)   productionE) A) and D)
F) B) and C)

Question 11

Relationship marketing depends on understanding individual consumers and responding quickly to their wants and needs.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

One factor that influences the consumer decision-making process is __________, which refers to the set of values, attitudes, and ways of doing things passed from one generation to another in a given society.

Accepted Answer

A)   cognitive dissonance
B)   the legal environment
C)   group behavior
D)   cultureE) B) and C)
F) A) and C)

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is considered a step in the marketing research process?

Accepted Answer

A)   Designing a product to meet the need based on research
B)   Defining the question and determining the present situation
C)   Planning for product modifications and test advertising
D)   Setting the price for a productE) C) and D)
F) A) and B)

Question 17

Mucho Tacos Restaurants, Inc., is a chain of restaurants featuring authentic Mexican cuisine in seven states. The company is looking into opening restaurants in additional markets and also wants to expand and to improve its menu. Which of the following is an example of secondary data the owners of Mucho Tacos might find useful?

Accepted Answer

A)   Information published by the U.S. Bureau of the Census that identifies which regions of the United States are experiencing the most rapid growth in Mexican-American population
B)   Telephone survey by the marketing department of Mucho Tacos asking for opinions about the quality of the food at the restaurants
C)   Focus group of teenagers who like Mexican food who are asked about their reactions to new food dishes the restaurant may offer
D)   E-mail responses the chain receives to a series of customer satisfaction questions posted on its websiteE) A) and C)
F) B) and C)

Question 18

The business-to-business (B2B) market involves the marketing of goods and services to institutions that sell, rent, produce or supply goods to others.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Exploring _________ data first helps marketers minimize marketing research costs.

Accepted Answer

A)   focus group
B)   personal interview
C)   primary
D)   secondaryE) A) and C)
F) B) and C)

Exam 13: Marketing: Helping Buyers Buy

Holly is a sophomore in college considering a degree in marketing. She has asked several friends for advice and their comments are listed below. Which of these comments is the most accurate and likely to help Holly?

Correct Answer
verified

Exploring _________ data first helps marketers minimize marketing research costs.

Correct Answer
verified

One factor that influences the consumer decision-making process is __________, which refers to the set of values, attitudes, and ways of doing things passed from one generation to another in a given society.

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

With careful attention to controlling costs and quality, businesses can successfully satisfy consumers with a standardized product for different markets.

Correct Answer
verified

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

Correct Answer
verified

Describe the steps involved in conducting marketing research.

Correct Answer
verified
There are four steps in the marketing re...
View Answer

Correct Answer
verified

Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.

Correct Answer
verified

The business-to-business (B2B) market involves the marketing of goods and services to institutions that sell, rent, produce or supply goods to others.

Correct Answer
verified

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

Correct Answer
verified

The purchase of a cash register is likely a B2B product.

Correct Answer
verified

Contacting customers after a sale to reassure them that they made the right decision is intended to offset:

Correct Answer
verified

Relationship marketing depends on understanding individual consumers and responding quickly to their wants and needs.

Correct Answer
verified

Which of the following is considered a step in the marketing research process?

Correct Answer
verified

The significant increase in consumer demand following World War II marked the beginning of the:

Correct Answer
verified

A ___________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations.

Correct Answer
verified

Firms that adopt a relationship marketing strategy attempt to:

Correct Answer
verified

Which of the following is part of the marketing process?

Correct Answer
verified

Exam 13: Marketing: Helping Buyers Buy

Holly is a sophomore in college considering a degree in marketing. She has asked several friends for advice and their comments are listed below. Which of these comments is the most accurate and likely to help Holly?

Correct AnswerverifiedShow Answer

Exploring _________ data first helps marketers minimize marketing research costs.

Correct AnswerverifiedShow Answer

One factor that influences the consumer decision-making process is __________, which refers to the set of values, attitudes, and ways of doing things passed from one generation to another in a given society.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

With careful attention to controlling costs and quality, businesses can successfully satisfy consumers with a standardized product for different markets.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Describe the steps involved in conducting marketing research.

Correct AnswerverifiedThere are four steps in the marketing re...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.

Correct AnswerverifiedShow Answer

The business-to-business (B2B) market involves the marketing of goods and services to institutions that sell, rent, produce or supply goods to others.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The purchase of a cash register is likely a B2B product.

Correct AnswerverifiedShow Answer

Contacting customers after a sale to reassure them that they made the right decision is intended to offset:

Correct AnswerverifiedShow Answer

Relationship marketing depends on understanding individual consumers and responding quickly to their wants and needs.

Correct AnswerverifiedShow Answer

Which of the following is considered a step in the marketing research process?

Correct AnswerverifiedShow Answer

The significant increase in consumer demand following World War II marked the beginning of the:

Correct AnswerverifiedShow Answer

A ___________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations.

Correct AnswerverifiedShow Answer

Firms that adopt a relationship marketing strategy attempt to:

Correct AnswerverifiedShow Answer

Which of the following is part of the marketing process?

Correct AnswerverifiedShow Answer

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There are four steps in the marketing re...
View Answer

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