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Exam 14: Marketing: Building Customer and Stakeholder Relationships

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Question 71

Multiple Choice

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________ is the setting of business practices designed to plan for and present an organization's products or services in ways that build effective customer relationships.

A) Selling
B) Advertising
C) Marketing
D) Mixing markets

E) A) and B)
F) None of the above

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Question 72

Multiple Choice

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A firm that uses ___________ segmentation divides a market into groups based on age,income,or level of education.

A) demographic
B) psychographic
C) perceived value
D) econometric

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

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Question 73

Multiple Choice

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Susan purchased a new automobile four months ago after struggling to choose between Kadillac and a Rolls Mobile.Even now,after purchasing the Rolls Mobile,she wonders if she made the right choice.Susan is experiencing:

Why is market segmentation important? Describe three ways firms can segment consumer markets.

Which of the following describes a word,letter,or group of words or letters that differentiate the goods and services of one seller from those of competitors?

Which of the following is most consistent with a relationship marketing strategy?

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

Which of the following describes a process in which marketers present an accurate description of a new product to potential customers and ask if they find the idea appealing?

Business-to-business markets tend to be:

Firms developing products for a narrow segment of a market are less likely to profitably satisfy that group's needs.

Which of the following refers to the process of dividing the total market into several groups with similar characteristics? Market:

A firm's marketing mix consists of 4 major components,which are sometimes called the four:

After years of using a mass marketing strategy,Digital Print Shops has responded to new competition from national chain stores by focusing on small market segments that have been ignored by their larger competitors.Digital believes that by offering these market segments personalized customer services it can attract a loyal group of customers willing to pay premium prices.Digital's strategy to improve profits is known as:

The Mucho Tacos Restaurants,Inc.has restaurants featuring authentic Mexican cuisine in two provinces.The company is looking to open restaurants in additional markets and also wants to expand and improve its menu.Which of the following is an example of secondary data the owners of Mucho Tacos might find useful?

In the evolution of marketing,the production era,assumed an unlimited market.

With help from the marketing department,engineers at Easy Electronics have designed a new type of cable modem that is easier to install in computers and more reliable than any cable modems currently in use.The marketing managers want to differentiate it from less sophisticated products made by Easy's competitors.An important part of this effort is likely to be the selection of a __________ for the new modem.

As a marketing manager for a retailer of lighting products,Lucinda will likely be involved in all of the following except:

In terms of the number and dollar volume of transactions,the B2B market is __________ the consumer market.

A focus group consists of a small group of people who meet,under the direction of a discussion leader,to communicate their opinions about an organization,its products,or other issues.

__________ marketing involves developing a unique mix of goods and services for each individual customer.