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Exam 14: Marketing: Helping Buyers Buy

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Question 41

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After World War II,the tremendous demand for goods and services among the returning veterans allowed businesses to sell whatever they produced without having to worry about what the competition was doing.

A) True
B) False

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Question 42

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Setting prices higher than the competition can help create an image of quality.

A) True
B) False

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Question 43

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The strategy of focusing on small but profitable market segments is called micro marketing.

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

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

Psychographic segmentation involves dividing a market into segments based on values,attitudes,and interests.

Successful marketers adjust their product offerings as the level of economic activity changes.

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?

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

Cognitive dissonance refers to the confusion and frustration people experience when they compare different products before making a purchase.

The consumer market consists of all the individuals or organizations that want goods and services in order to produce other goods and services to sell,rent,or supply to others.

What are the goals of a marketing mix?

A key element of customer relationship management is to:

The marketing mix provides an analysis of markets to determine opportunities and challenges,and gather the information needed to make good decisions.

When classifying a product as a consumer good or a B2B product,the primary factor is the identity of the buyer.

Providing people with a description of a potential new good or service and asking if the idea appeals to them,is part of the marketing mix.

Consumer decisions regarding the products they buy are often influenced by their nationality,religion,or ethnic origin.Marketers realize that the consumer decision-making process is impacted by the consumers'_______ _.

Concept testing involves placing a product in a place where consumers will buy it.

The purpose of market segmentation is to identify the features of a product that will appeal to as many customers as possible.

In business-to-business markets,sellers rely on wholesalers and retailers to efficiently distribute their products.