Question 1

Mona designs the packages and chooses the brand names for goods produced by her firm. Mona is involved in which part of the marketing mix?

Accepted Answer

Mona's involvement in designing packages and choosing brand names indicates her involvement in product strategy, one of the four Ps of the marketing mix. Promotion strategy involves advertising and other methods to promote the product, distribution strategy involves deciding how to get the product to the customer, and pricing strategy involves determining the price of the product.

Question 2

The current marketing period where companies emphasize customer satisfaction is referred to as the ______ era.

Accepted Answer

The relationship era is characterized by companies focusing on building long-term relationships with their customers and providing excellent customer service to ensure customer satisfaction. This era is in contrast to the production era, where companies focused on maximizing production efficiency, the sales era where companies focused on aggressive sales tactics, and the marketing era where companies focused on promoting their products to consumers.

Question 3

Production era stressed on the importance of

Accepted Answer

The production era was focused on producing quality products efficiently and decreasing costs of production. The main goal was to increase production and output, rather than satisfying customer needs or expanding the market.

Question 4

As the result of a hurricane heading toward the coastal area of Nova Scotia, residents rushed to purchase plywood to cover their windows. Retailers who carried plywood were operating in a ______.

Accepted Answer

A seller's market occurs when there is a high demand for a product or service and a limited supply, giving sellers the advantage and allowing them to increase prices. In this scenario, retailers who carried plywood were likely experiencing a seller's market due to the high demand for plywood as residents rushed to prepare for the hurricane.

Question 5

The Tour of Hope is a cross-country bike tour designed to raise awareness about cancer clinical trials. Dasani bottled water is one of the sponsors, which enables the company to utilize ______ marketing.

Accepted Answer

The Tour of Hope is an event, and Dasani is sponsoring it, making it an example of event marketing.

Question 6

Goods and services such as haircuts, GPS systems, and computers that are purchased for end users are examples of ______.

Accepted Answer

Consumer products are goods and services that are purchased by end users for personal consumption. Haircuts, GPS systems, and computers are all examples of consumer products. Business products, on the other hand, are goods and services that are purchased by businesses to be used in their operations, such as office supplies or manufacturing equipment. Target market refers to the specific group of consumers that a company is targeting with its products or services, while marketing mix is a term used to describe the combination of elements that a company uses to promote and sell its products or services.

Question 7

Business moved from production orientation to sales orientation because of

Accepted Answer

Greater competition resulted in businesses focusing on sales, as they had to actively market and sell their products in order to remain competitive.

Question 8

Companies use ______ to focus on a specific consumer market by combining product, distribution, promotion, and pricing strategies.

Accepted Answer

The concept described in the question is the marketing mix, which combines product, distribution, promotion, and pricing strategies to target a specific consumer market. Market segmentation is a related concept, but it refers specifically to dividing a larger target market into smaller groups based on shared characteristics. The marketing concept is a broader philosophy that focuses on identifying and meeting the needs of customers. Consumer behavior is the study of how people make decisions about what they buy and how they use and dispose of products.

Question 9

Maria is campaigning for city council and talks with prospective voters in her ward about their concerns. Maria is engaged in ______ marketing.

Accepted Answer

Maria is engaging in person marketing as she is directly interacting with prospective voters and trying to appeal to them on a personal level. Place marketing would involve promoting the physical location of the city council, cause marketing would involve promoting a specific issue or cause, and idea marketing would involve promoting a new concept or way of thinking.

Question 10

______ marketing attracts people to a particular area, such as a city, region, or country.

Accepted Answer

Place marketing, also known as destination marketing, focuses on promoting a specific location to attract visitors, residents, and businesses. It involves highlighting the unique attributes, attractions, amenities, and services of a place to create a distinct brand identity and competitive advantage in the tourism and economic development industries. Examples of place marketing include the "I Love NY" campaign, Visit California, and the "Amazing Thailand" campaign.

Question 11

Relay for Life raises money for the Canadian Cancer Society for cancer research and treatment. This is an example of ______ marketing.

Accepted Answer

This is an example of organization marketing as the focus is on promoting and creating awareness about the Canadian Cancer Society and the work they do for cancer research and treatment.

Question 12

Which of the following marketing decision areas may be subject to government regulation and public scrutiny but can be a powerful competitive tool for a business?

Accepted Answer

Pricing strategy is often subject to government regulation and public scrutiny due to concerns about price fixing, predatory pricing, and other anti-competitive practices. However, it can be a powerful competitive tool when used ethically and strategically.

Question 13

A singles business aims its promotions toward singles between the ages of 25 and 40 who reside in a specific county. The business has ______.

Accepted Answer

The business has selected a specific group of individuals, namely singles between the ages of 25 and 40 who reside in a specific county, as their target market.

Question 14

Which of the following is the first step in developing a marketing strategy?

Accepted Answer

Identifying a target market is the first step in developing a marketing strategy because it determines who the product or service is intended for, which influences all other aspects of the strategy such as product development, promotion, and distribution.

Question 15

The marketing of a social concern or issue such as preventing child abuse is known as ______ marketing.

Accepted Answer

Cause marketing refers to promoting and raising awareness for a social cause or issue, and it is a form of marketing aimed at influencing consumer behavior for social good. Preventing child abuse falls under the category of social concerns and is a cause that can be marketed to create awareness and inspire action towards the cause.

Question 16

An organization's ______ is the group of potential customers toward whom it directs its marketing efforts.

Accepted Answer

Target market refers to the specific group of potential customers that an organization directs its marketing efforts towards. Marketing demographic refers to the characteristics of a particular market segment, while market segment refers to a sub-group within a larger market. Product market refers to the market for a specific product or service.

Question 17

The largest not-for-profit organization in the world is

Accepted Answer

The answer of The largest not-for-profit organization in the world...

Question 18

Juliet is seeking employment in the banking industry. Before her interview with Chase, she conducts thorough research and identifies ways in which she can benefit the company. What type of marketing is Juliet utilizing?

Accepted Answer

Juliet is utilizing person marketing, which focuses on promoting an individual person as a brand and highlighting their skills, experiences, and achievements to potential employers.

Question 19

Local officials in a mid-size town used ______ marketing to convince major businesses to move to the area, including advertisements that emphasized low tax rates and accessible transportation.

Accepted Answer

Place marketing is used to promote a specific city or region to potential investors, residents, and visitors. In this case, the local officials are using marketing techniques to attract businesses to their town by emphasizing its favorable location and tax policies.

Question 20

Some products can be classified as either a business or a consumer product depending on ______.

Accepted Answer

The classification of a product as a business or consumer product depends on who buys the product and why. If it is bought for personal use, it is categorized as a consumer product, and if it is purchased for business purposes or for resale, it is classified as a business product. The type of product, cost, and where it is sold do not necessarily determine its classification as a business or consumer product.

Quiz 11: Customer-Driven Marketing