Question 1

Marketing strategies used effectively in the business-to-business markets are exactly the same as strategies used by marketers in consumer markets.

Accepted Answer

A) True 
 B)False

Question 2

Whenever available,marketers should rely exclusively on primary data because it is much more accurate than secondary dat
A.

Accepted Answer

A) True 
 B)False

Question 3

Explain how mass marketing and relationship marketing differ.

Accepted Answer

Mass marketing means developing products...

Question 4

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:

Accepted Answer

A)  environmental scanning.
B)  niche marketing.
C)  micro-marketing.
D)  respondent change.E) All of the above
F) B) and D)

Question 5

Which of the following strategies provides an example of the most current era that today's businesses are embracing?

Accepted Answer

A)  At Hefler International,a smart phone manufacturer,the production line is a 24-hour operation,even if demand is tepid.
B)  Slick Willy Car Sales always has a large stock of pre-owned cars at great prices.You can almost always get a car for about 30-40% cheaper than at another car sales company,but you buy it "as is," without any warranties.
C)  Backstreet Books,Ltd. ,is known for stocking the top ten books on the monthly best sellers list.These books are almost always available at a reasonable cost to the bookstore,and they usually fly off the shelves.Backstreet Books sees this as a win-win situation for themselves and their customers.
D)  Adventure Hotels is all about the experience.Their goal is to make certain that every guest leaves their properties with a better feeling than when they first arrived.The CEO of Adventure says,"We want you to think of our brand first when you make a hotel reservation."E) A) and D)
F) A) and C)

Question 6

A widely used technique commonly used for collecting primary data is:

Accepted Answer

A)  collecting relevant articles in trade journals.
B)  benchmarking.
C)  conducting a survey.
D)  reviewing government reports.E) B) and C)
F) A) and D)

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Test marketing involves developing an accurate description of the product and asking people if the proposed product appeals to them.

Accepted Answer

A) True 
 B)False

Question 9

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) C) and D)
F) All of the above

Question 10

Which of the following is consistent with relationship marketing?

Accepted Answer

A)  maintaining transactional relationships with customers
B)  working with buyers to determine their individual needs
C)  developing market share through mass media advertising
D)  focusing more on obtaining new customers than on retaining existing customersE) B) and C)
F) None of the above

Question 11

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) A) and D)
F) C) and D)

Question 12

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)  a telephone survey by the marketing department of Mucho Tacos asking for opinions about the quality of the food at the restaurants
C)  a 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) B) and C)
F) B) and D)

Question 13

In an effort to increase customer loyalty,management at Phat International has worked to create a personal dialogue with their customers.This dialogue will enable Phat to offer products that exactly meet their customers' needs and provide personalized service before and after the sale.Phat International's new strategy illustrates:

Accepted Answer

A)  a production orientation.
B)  relationship marketing.
C)  personalized promotion.
D)  niche marketing.E) None of the above
F) A) and D)

Question 14

The number of buyers in business-to-business markets is:

Accepted Answer

A)  roughly the same as the number of buyers in the consumer market.
B)  much larger than the number in the consumer market.
C)  relatively small compared to the consumer market.
D)  controlled by government regulation.E) A) and D)
F) A) and C)

Question 15

The four eras of the evolution of marketing are 1)production,2)selling,3)advertising,and 4)stakeholder relationships.

Accepted Answer

A) True 
 B)False

Question 16

Marketing focuses on the pricing and distribution of want-satisfying products,as well as determining the best way to promote the products to consumers.

Accepted Answer

A) True 
 B)False

Question 17

Tasteequik Food markets one line of food products to consumers looking for meals that are very simple and quick to prepare.Tasteequik also offers another line of food targeted to people interested in low fat,high nutrition foods.Tasteequik's strategy of dividing the market into groups that want similar things from the products they buy is an example of:

Accepted Answer

A)  benefit segmentation.
B)  demographic segmentation.
C)  volume segmentation.
D)  target segmentation.E) A) and D)
F) A) and C)

Question 18

All-Star Collectibles focuses its marketing efforts on high-income buyers of unique collectible items.The firm realizes that the number of buyers in this segment of the collectible market is small.However,they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service.All-Star's approach is an example of:

Accepted Answer

A)  competitive benchmarking.
B)  niche marketing.
C)  relationship targeting.
D)  target positioning.E) A) and C)
F) None of the above

Question 19

Click Computers has established a Web site where its customers can get the latest information about the company's products,offer suggestions about improving products and service,and contact technical support via e-mail.The company has even added a chat room that allows customers to communicate with each other.Click's approach indicates that it is trying to utilize relationship marketing.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements about Callie's marketing approach is most accurate?

Accepted Answer

A)  Callie is basing her marketing approach on a variation of the mass marketing strategy.
B)  Callie's marketing strategy appears to be consistent with several key aspects of relationship marketing.
C)  Many recent studies suggest that Callie will be unable to earn a reasonable profit because she is serving too small a segment of the market rather than the entire market.
D)  Callie's marketing efforts put too much emphasis on retaining existing customers and not enough on retaining new customers.E) B) and C)
F) C) and D)

Exam 13: Marketing: Helping Buyers Buy

Whenever available,marketers should rely exclusively on primary data because it is much more accurate than secondary dat A.

Correct Answer
verified

Which of the following is consistent with relationship marketing?

Correct Answer
verified

Marketing focuses on the pricing and distribution of want-satisfying products,as well as determining the best way to promote the products to consumers.

Correct Answer
verified

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

Correct Answer
verified

Explain how mass marketing and relationship marketing differ.

Correct Answer
verified
Mass marketing means developing products...
View Answer

The number of buyers in business-to-business markets is:

Correct Answer
verified

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

Correct Answer
verified

The four eras of the evolution of marketing are 1)production,2)selling,3)advertising,and 4)stakeholder relationships.

Correct Answer
verified

Which of the following strategies provides an example of the most current era that today's businesses are embracing?

Correct Answer
verified

Test marketing involves developing an accurate description of the product and asking people if the proposed product appeals to them.

Correct Answer
verified

Correct Answer
verified

Which of the following statements about Callie's marketing approach is most accurate?

Correct Answer
verified

Marketing strategies used effectively in the business-to-business markets are exactly the same as strategies used by marketers in consumer markets.

Correct Answer
verified

Correct Answer
verified

A widely used technique commonly used for collecting primary data is:

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Exam 13: Marketing: Helping Buyers Buy

Whenever available,marketers should rely exclusively on primary data because it is much more accurate than secondary dat A.

Correct AnswerverifiedShow Answer

Which of the following is consistent with relationship marketing?

Correct AnswerverifiedShow Answer

Marketing focuses on the pricing and distribution of want-satisfying products,as well as determining the best way to promote the products to consumers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Explain how mass marketing and relationship marketing differ.

Correct AnswerverifiedMass marketing means developing products...View AnswerShow Answer

The number of buyers in business-to-business markets is:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

The four eras of the evolution of marketing are 1)production,2)selling,3)advertising,and 4)stakeholder relationships.

Correct AnswerverifiedShow Answer

Which of the following strategies provides an example of the most current era that today's businesses are embracing?

Correct AnswerverifiedShow Answer

Test marketing involves developing an accurate description of the product and asking people if the proposed product appeals to them.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements about Callie's marketing approach is most accurate?

Correct AnswerverifiedShow Answer

Marketing strategies used effectively in the business-to-business markets are exactly the same as strategies used by marketers in consumer markets.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A widely used technique commonly used for collecting primary data is:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Mass marketing means developing products...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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