Deck 14: Marketing: Building Customer and Stakeholder Relationships

Question 1

During the selling era,businesses turned from an emphasis on production to an emphasis on selling.

Answer 1

True

Question 2

It is the job of marketers today to persuade consumers to buy the goods and services they have available to sell.

Answer 2

False

Question 3

Mike's Auto Repair works hard to find out what customers want and how to best meet their needs.Based on feedback from customers,Mike now provides a written estimate before any work is done,offers a more comprehensive guarantee than competitors,and calls customers after servicing their cars to make sure they are satisfied.These efforts suggest Mike is applying the concepts of customer relationship management.

Answer 3

True

Question 4

The activities of marketers depend on what needs to be done to satisfy consumers.

Question 5

The marketing concept has three parts: (1) a consumer orientation, (2) a service orientation, and (3) an advertising orientation.

Question 6

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.

Question 7

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

Question 8

There are two distinct dimensions to the social media marketing era.

Question 9

In the evolution of marketing,the marketing concept era emphasized selling and advertising in an effort to persuade consumers to buy existing products.

Question 10

During the early 1900s,businesses emphasized learning as much as possible about their customers and doing everything to satisfy them.

Question 11

Outstanding service after the sale was a primary focus of businesses during the selling era.

Question 12

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

Question 13

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

Question 14

The tremendous demand for consumer goods and services after World War II launched the production era of the evolution of marketing.

Question 15

The focus of the production era was on distribution and advertising.

Question 16

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

Question 17

Sales representatives at the HomeWork Helper Appliances Store work hard to develop a close relationship with their customers and to provide satisfaction even after the sale.These efforts by HomeWork Helper's sales personnel are part of the marketing process.

Question 18

Because the marketing concept emphasizes a profit orientation,marketing has not been used successfully by non-profit organizations.

Question 19

Brand building strategies are more important to not-for-profit businesses than for profit businesses.

Question 20

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

Question 21

Unlike advertising,which is part of the promotional component of the marketing mix,personal selling is considered to be part of the distribution function.

Question 22

A firm's copyright consists of the words or letters used to differentiate their goods and services from those of competitors.

Question 23

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

Question 24

The marketing process includes decisions about the best way to get the product to the consumer.

Question 25

The four elements of marketing mix are product,timing,price,and efficiency.

Question 26

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.

Question 27

Although marketers are concerned with selling goods and services,they are not involved in designing the products their firm will sell.

Question 28

Placing a product where people will buy it is part of the marketing mix.

Question 29

The last step in the marketing process often includes building a continuing relationship with customers.

Question 30

Test marketing is the process of testing products among potential users.

Question 31

The main concern of marketing is to please the stockholders.

Question 32

Determining the appropriate price for a good or service is one element of the marketing mix.

Question 33

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

Question 34

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

Question 35

The McDonald's Foundation is a nonprofit organization that helps underprivileged children.As a nonprofit organization,it should avoid performing marketing functions,since these functions are designed to help organizations earn a profit.

Question 36

Given today's marketing environment,marketing managers must constantly adjust the marketing mix.

Question 37

Promotion includes personal selling and word-of-mouth efforts to persuade people to buy a firm's goods or services.

Question 38

The primary factors of the marketing mix are sometimes called the 5 Ts of marketing.

Question 39

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

Question 40

Marketing involves developing and promoting a firm's products,but all distribution decisions are handled by a firm's transportation managers.

Question 41

Eavesdrop Communications just finished a telephone survey of several of their current customers.They plan to conduct in-depth personal interviews with about twenty additional customers.Both the telephone survey and the interviews are sources of primary data for Eavesdrop.

Question 42

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

Question 43

The most important component of the marketing mix is the actual production,or manufacturing,of the product.

Question 44

Effective marketing research involves listening to customers,employees,shareholders,and other stakeholders.

Question 45

Marketers should rely exclusively on primary data whenever it is available because it is much more accurate than secondary data.

Question 46

Marketing research is a process that most firms complete once a year,in order to gather information for their budgeting process.

Question 47

Marketers use surveys to gather secondary data.

Question 48

Marketing is a one-time activity,performed when a business is first established.Once a firm has fine-tuned its marketing activities,it can turn its attention elsewhere.

Question 49

Marketing research helps determine what customers have purchased in the past,what situational changes have occurred to change consumer preferences,and what consumers are likely to want in the future.

Question 50

Secondary data should be gathered first because this type of information is less expensive to obtain.

Question 51

The final step of the marketing research process involves selecting the best from several alternative strategies,and performing follow-up research to see if results were as expected.

Question 52

Marketing research usually begins with secondary data because it is more accurate and more relevant than primary data.

Question 53

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

Question 54

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.

Question 55

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

Question 56

Getting the product from the producer to the consumer is a production-related process and not related to the marketing mix.

Question 57

The marketing activities of an organization involve the evaluation of alternatives to finance their activities.

Question 58

Secondary data consists of already-published results available from journals,trade associations,the government and other sources.

Question 59

Because accurate and timely market information is vital to a firm's success,businesses should budget whatever it takes to get the best data available.

Question 60

Primary data is generally less expensive to obtain than secondary data.

Question 61

The most dramatic global change affecting a firm's marketing environment is probably the growth of the Internet.

Question 62

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

Question 63

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

Question 64

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

Question 65

A student admission ticket to the new James Bond movie is an example of market segmentation.

Question 66

The two major types of markets in business are the consumer market and the producer market.

Question 67

Market segmentation is the process of dividing a market into several groups that have dissimilar characteristics.

Question 68

Peggy,a fitness instructor at the local YMCA,has been invited by a magazine publisher to meet with nine other people to discuss a new concept for health and fitness magazine.A member of the publisher's marketing staff will be at the meeting to guide the discussion and to record the participants' comments and suggestions.If Peggy accepts the invitation,she will be participating in a focus group.

Question 69

Population growth and changing demographics are two elements of a firm's social environment.

Question 70

Price is the determining factor as to whether a good is classified as a consumer good or a B2B product.

Question 71

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.

Question 72

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

Question 73

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

Question 74

Environmental scanning involves the tracking of pollution generated by a firm and its impact on society.

Question 75

Target marketing is a business strategy that focuses a firm's marketing efforts towards a potentially profitable segment of a larger market.

Question 76

A loaf of bread is an example of a product that is always classified as a consumer good.

Question 77

A cash register is likely a B2B product.

Question 78

Helen,a manager for Marshall Manufacturing,spends much of her time reviewing the global,technological,socio-cultural,competitive,and economic factors that can influence the success of her firm's marketing efforts.Helen's efforts indicate that she is involved with environmental scanning.

Question 79

Because consumers differ in age,educational level,income,and tastes,firms will be more likely to succeed if they target a segment of a market and develop goods and services specially tailored to that group.

Question 80

)Government publications,such as the Statistics Canada Catalogue,are reliable sources of primary data.