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Exam 13: Marketing: Helping Buyers Buy

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Question 101

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Which of the following is a part of the marketing concept?

A) A consumer orientation
B) Avoidance of risk
C) Financial return orientation
D) Emphasis on efficient production

E) B) and C)
F) B) and D)

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Question 102

Multiple Choice

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The greatest marketing need firms sought during the production era was for:

A) Mass production and personal selling.
B) Less expensive distribution and storage.
C) Blanket advertising and financing.
D) Specialized production and storage.

E) All of the above
F) B) and C)

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Question 103

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The factor that determines whether a product is classified as a consumer product or an industrial product is:

Compared to consumer markets,B2B markets:

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

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

A firm's marketing mix refers to the combination of:

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.

In an effort to increase profits,Yen Ching Chinese restaurant is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet.These efforts,designed to identify specific groups that can be profitably served,represent an example of:

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

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

Relationship marketing moves away from mass production and toward custom-made goods and services.

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

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

One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

Nature's Sun,a company that designs and manufactures clothing for active people,focuses their marketing efforts on people who participate in strenuous outdoor activities such as running and mountain climbing.For example,the firm advertises heavily in magazines for runners.Nature's Sun is using _________ factors to segment its market.

Mini-Case Callie is a successful executive who is also a fitness enthusiast.For years she worked out at Big Jim's Gym,the only gym in her small hometown.However,she felt that the environment at Big Jim's was too masculine,and discovered that her female friends agreed.They disliked the small,smelly locker room,and the limited selection of aerobics equipment.Most of them eventually quit going to Big Jim's.Callie talked to Jim Nasium,the owner of Big Jim's,about things he could do to attract more women,but Jim had little interest in making any changes."I've got all the business I can handle," he told Callie."Why should I spend a bunch of money to redecorate and add extra equipment? Besides,lots of the guys who work out here tell me they like the simple,no-frills atmosphere." Frustrated by Jim's indifference to her ideas,Callie began looking into the possibility of starting a health club to appeal to young,well-educated women.After visiting health clubs in other towns and talking to several friends to get ideas,she came up with a detailed plan for her club.She then described her ideas to women in the community to see how much interest there was in this type of facility.The extremely positive response encouraged her to go ahead with her plans.It took a while,but she ultimately obtained the financial backing to go into business. Callie calls her new health club Curves and Shapes.It offers a spacious and attractive locker room,better aerobics equipment,a child care area so young mothers can have someone watch their toddlers while they work out,and exercise classes designed to appeal to young women.When a woman joins her health club,Callie schedules a free session with a personal trainer who works with the new member to design a personalized workout program.Callie tries hard to keep close to her customers,sending them a monthly newsletter that includes a survey asking what they like and don't like about Curves and Shapes.She wants to please her existing customers and keep them coming back.In fact,now that Curves and Shapes have a strong membership base,Callie believes it is more important to keep existing customers loyal than to attract new customers.In addition to the comments from her own customers,Callie also spends a lot of time tracking economic,social,and competitive trends in the health club industry,trying to identify factors that can affect the marketing success of her health club.She subscribes to several journals that cover trends and report on research findings related to the health club business.She has found that these journals provide her with an inexpensive source of useful information. -When Callie attempts to identify economic,social,and competitive factors that could affect her success in the health club market,she is engaging in:

In order to be successful,marketers avoid small market segments in favor of larger targets.

As a marketing manager for Kitch-It-Tools,Jim is frustrated with the way his organization markets their kitchen utensils.Currently Kitch-It-Tools utilizes a strategy aimed towards the largest possible number of people,relying heavily on television and radio advertising.Jim complains that the firm is not listening to its customers and is in danger of losing many of them to firms that create a personal dialogue with their buyers.Presently Kitch-It-Tools practices:

The last step in the marketing process often includes: