Deck 14: Marketing: Helping Buyers Buy

Question 1

Business-to-business markets tend to be:

A)geographically concentrated.
B)dominated by marketing intermediaries.
C)characterized by the presence of a large number of small buyers.
D)more emotional than consumer markets.

Answer 1

A

Question 2

After years of selling in the consumer market,Dave accepted a job as a salesperson for a firm that markets its products in the B2B market.As he considers his new responsibilities,it's likely that he will:

A)find little difference between buyers in the consumer market and those in the business-to-business market.
B)find that B2B buyers tend to purchase more on impulse than consumer buyers.
C)discover that decision making in the B2B requires salespeople to be little more than order takers.
D)learn that industrial buyers generally require more personal service than buyers in the consumer market.

Answer 2

D

Question 3

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

A)Ps.
B)components of a SWOT analysis.
C)keynotes.
D)functions of management.

Answer 3

A

Question 4

When making marketing mix decisions,marketing managers should consider:

A)the interests of top management.
B)the decline in importance of promotion as a tool of the marketing mix.
C)business and global trends in which the firm operates.
D)distribution as the most important component of the marketing mix.

Question 5

Kelly buys only Calvin jeans and Nike sport shoes because these products are endorsed by her favourite entertainers.Furthermore,her attitudes and values are shaped by statements by these celebrities.This illustrates how consumer decision making is influenced by:

A)cognitive dissonance.
B)marketing mix variables.
C)primary group identification.
D)a reference group.

Question 6

Which of the following statements about the distinction between consumer goods and industrial goods is the most accurate?

A)Industrial goods are custom-made to the specifications of the buyer,while the vast majority of consumer goods are mass-produced.
B)Consumer goods are typically more expensive than industrial goods.
C)Industrial goods tend to have a useful life of several years and can be depreciated while consumer goods typically last less than a year.
D)The same product can be classified as either a consumer good or an industrial good,depending upon its end use.

Question 7

Which of the following is considered a secondary source of information?

A)company record
B)focus group
C)observation
D)survey

Question 8

The important marketing needs were for distribution and storage during which era?

A)customer relationship
B)marketing concept
C)production
D)sales

Question 9

Exploring data first helps marketers minimize marketing research costs.

A)primary
B)focus group
C)secondary
D)newly created survey

Question 10

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

A)Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets.
B)Businesses focus on developing wants and needs in consumer markets,while firms work to satisfy the existing needs of the B2B market.
C)Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets.
D)Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets.

Question 11

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?

A)A focus group of teenagers who like Mexican food who are asked about their reactions to new food dishes the restaurant may offer.
B)Information published by Statistics Canada that identifies which regions of Canada are experiencing the most rapid growth in their Mexican population.
C)A telephone survey by the marketing department of Mucho Tacos asking for opinions about the quality of the food at the restaurants.
D)E-mail responses the chain receives to a series of customer satisfaction questions posted on its Web site.

Question 12

A widely used technique for collecting primary data is:

A)collecting relevant articles in trade journals.
B)the review of government reports.
C)benchmarking.
D)the observation method.

Question 13

The business philosophy of "produce as much as you can because there is a limitless market" is consistent with which of the following?

A)Customer relationship era
B)Selling era
C)Marketing era
D)Production era

Question 14

consists of all the techniques sellers use to persuade consumers to buy their goods and services.

A)Advertising
B)Closing
C)Promotion
D)Pre-selling

Question 15

As the campaign manager for a candidate for the Canadian Federal Parliament,Pete works to learn as much as possible about potential voters.With this information,he hopes to focus the campaign on the issues most important to voters.This represents:

A)the selling of a political candidate.
B)a non-profit application of the production era strategy.
C)an extension of the profit orientation to a non-profit organization.
D)the use of marketing by a non-profit organization.

Question 16

Which of the following correctly identifies the motivation of firms using a market segmentation strategy?

A)With limited resources,firms can better satisfy the wants and needs of a smaller target market.
B)Government regulations require firms to maintain accurate records to show that the firm has not discriminated against a market segment.
C)This strategy enables a firm to identify common traits in different consumer groups.
D)Firms can avoid the government's anti-trust laws by selecting a small slice of a larger market.

Question 17

The market consists of individuals and organizations that want goods and services to produce other goods and services or to sell,rent,or supply those goods to others.

A)target
B)super
C)consumer
D)B2B

Question 18

The factor that determines whether a product is classified as a consumer product or an industrial product is:

A)whether the good is new or used.
B)what the company CEO decides.
C)the end use of the product.
D)the decision-making process used to purchase the good or service.

Question 19

Which of the following represents an example of demographic segmentation?

A)A firm producing recreational equipment divides its market into groups by region of the country,designing different products for people in different parts of the country.
B)A company that produces food products has designed a special line of easy to prepare microwavable meals that are low in low fat and high in fiber to attract people interested in the health benefits of the foods they eat.
C)A motion picture company divides its market according to the attitudes and interests of its customers,marketing some films to people who enjoy action movies and targeting other movies to people who prefer romantic comedies.
D)An automobile manufacturer offers different types of cars designed to appeal to different age groups and income levels.

Question 20

consists of information that has already been researched by others and published in journals or books,or has been made available online.

A)Primary data
B)Pre-coded information
C)Secondary data
D)Technical data

Question 21

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:

A)respondent change.
B)micro marketing.
C)niche marketing.
D)environmental scanning.

Question 22

By employing a relationship marketing strategy,Jocelyn found success as an entrepreneur.The goal of this strategy is to:

A)target large market segments of potential customers by working closely with a variety of suppliers.
B)use radio and television advertising to attract new customers.
C)work closely with existing customers to better satisfy their wants and needs.
D)communicate to buyers the advantages offered by your firm's low prices and standardized products.

Question 23

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

A)The development of a web site that seeks customer feedback.
B)Designing a promotional campaign to increase cooperation among the firm's suppliers.
C)The creation of a national advertising campaign using radio and television to increase market share.
D)Distributing goods through limited service discount stores.

Question 24

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

A)marketing
B)selling
C)customer relationship
D)production

Question 25

is the process of identifying factors that can affect marketing success.

A)Niche marketing
B)Segmentation analysis
C)Target marketing
D)Environmental scanning

Question 26

As part of her responsibilities as a marketing manager,Jan has completed her review of data her department has gathered through telephone interviews,mail surveys and focus groups.Jan is disappointed because the research results strongly suggest that a product idea she helped develop is unlikely to be popular with potential customers.Jan should:

A)put the product on temporary hold,throw out the results of the research,and design and conduct new surveys and questionnaires.
B)accept the research results and re-evaluate the proposed product.
C)continue developing the product,but try to find ways to reduce production costs.
D)proceed with product development because the opinions of experienced marketing managers often turn out to be more accurate than marketing research.

Question 27

Which of the following tasks would be included in the marketing mix?

A)Developing financial statements based on the recorded transactions of the firm during a specific time period.
B)Examining various sources of funds to determine the best way to finance an expansion of the organization's production facilities.
C)Assigning tasks to specific workers on an assembly line.
D)Evaluating various distribution alternatives to determine the best way to get the product to the consumer.

Question 28

Archie just bought a pickup truck with centre armrests that double as laptop workstations.What part of the four Ps is his automobile company addressing?

A)promotion
B)price
C)place
D)product

Question 29

All of the following are part of the marketing process except:

A)designing the most efficient method of production of a new product.
B)determining the brand name for a new product.
C)contacting buyers after a sale to ensure customer satisfaction.
D)developing an understanding of the customer behaviour.

Question 30

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

A)determining the best way to finance the purchase of a new production equipment.
B)developing ideas for new types of light fixtures.
C)setting a price for the light fixtures her firm produces.
D)deciding the best way to distribute the firm's products.

Question 31

Which of the following would best benefit the development of niche marketing?

A)A decline in the cost of advertising on radio and newspapers enabling firms to more efficiently reach a wide audience.
B)A growing acceptance of free trade agreements such as NAFTA.
C)A Supreme Court ruling that limits the market share individual firms in a market are allowed to serve.
D)A manufacturing improvement enabling firms to more efficiently design and produce specialized products for small groups of consumers.

Question 32

The is based on three elements: (1)a customer orientation, (2)a service orientation,and (3)a profit orientation.

A)marketing concept
B)relationship approach to marketing
C)hierarchy of needs
D)mercantile philosophy

Question 33

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

A)segmentation.
B)partitioning.
C)discrimination.
D)differentiation.

Question 34

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

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

Question 35

A firm that uses segmentation divides a market into groups based on values, attitudes,and interests.

A)psychographic
B)demographic
C)benefit
D)normative

Question 36

A marketing strategy develops products and promotions designed to please large groups of people.

A)value
B)volume
C)mass
D)relationship

Question 37

A consumer's decision-making process is influenced by their ,consisting of those people who help shape the consumer's beliefs,attitudes,values or behaviour.

A)formal peer group
B)focus group
C)target market
D)reference group

Question 38

All of the following are considered steps in the marketing research process except:

A)gathering data to support conclusions.
B)defining the problem to be resolved.
C)choosing the best solution for a problem.
D)planning for product modifications and test advertising.

Question 39

The greatest marketing need during the production era was for:

A)service after the sale
B)getting closer to the customer
C)less expensive distribution and storage
D)knowing where to advertise

Question 40

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:

A)cognitive dissonance.
B)customer regret.
C)consumer resonance.
D)conscious regression.

Question 41

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

A)marketing concept era
B)customer relationship era
C)production era
D)selling era

Question 42

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:

A)relationship marketing.
B)personalized promotion.
C)niche marketing.
D)a production orientation.

Question 43

Hans has the responsibility for product development,pricing,promotion,and distribution of Hi Vee Vitamins to children.Hans's job would not involve:

A)getting the product to the right place.
B)concept testing.
C)pollution control.
D)test marketing.

Question 44

Which of the following involves the analysis of markets to identify opportunities and challenges?

A)Market prospecting
B)Marketing research
C)Opportunity identification
D)Market analysis

Question 45

While the four Ps help us remember the basics of the ,they don't include everything that goes into the marketing process.

A)competitive benchmarking
B)marketing mix
C)production operations
D)product development

Question 46

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 nutritional foods.Tasteequik's strategy of dividing the market into groups with similar characteristics is an example of:

A)volume segmentation.
B)behavioural segmentation.
C)target segmentation.
D)demographic segmentation.

Question 47

A orientation refers to the process of determining the wants and needs of customers and then providing goods and services to meet their expectations.

A)production
B)profit
C)market share
D)customer

Question 48

Marketers define a as any physical good,service,or idea that satisfies a want or need.

A)brand
B)prototype
C)concept test
D)product

Question 49

Social media marketing has two distinct dimensions.What are they?

A)Consumer generated marketing efforts to promote brands and companies,and the use of online tools and platforms by marketers to promote brands and companies
B)Once a product is sold focus on the next customer,and a profit orientation
C)The ability to persuade consumers to purchase goods they don't really need,and a production focus
D)Customer orientation and profit

Question 50

Holly is a sophomore in college considering a degree in marketing.She has asked several friends for advice and their comments are listed below.Which of these comments is the most accurate?

A)You should major in marketing only if you want to work in advertising or personal selling.
B)Marketing offers business students a wide array of career options.
C)Majoring in marketing rules out a meaningful career with a non-profit organization.
D)Marketing is a career that offers stability,good pay and ample employment opportunities.Marketing activities today are essentially the same as they were several decades ago.

Question 51

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

A)the same size as
B)larger than
C)smaller than
D)using the same marketing strategies as

Question 52

The first step in the marketing research process is to:

A)collect relevant data from primary and secondary sources.
B)define the problem and determine the present situation.
C)decide upon the best ethical solution.
D)analyze the research data.

Question 53

Keith has been hired as a marketing manager for a textbook publishing company.His primary responsibilities most likely include:

A)pricing and promotion his firm's products.
B)preparing job descriptions and job specifications for the firm's executives.
C)establishing inventory control methods.
D)ensuring production schedules are met.

Question 54

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.

A)concept
B)consumer interest
C)prototype
D)focus

Question 55

Joan purchased new appliances for her kitchen.She is having second thoughts about whether she got the best products for the best price.What factor has influenced her decision-making process?

A)learning
B)culture
C)cognitive dissonance
D)subculture

Question 56

Firms adopting a relationship marketing strategy by creating a community of buyers view their company's Internet web site as a(n):

A)threat to the effective and efficient implementation of their strategy.
B)tool with limited value because many people are reluctant to place orders or send information electronically.
C)promising technique to reach the mass market.
D)opportunity to improve their dialogue with customers and increase customer loyalty.

Question 57

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

A)Narrowcast marketing
B)Focused marketing
C)Micro targeting
D)Niche marketing

Question 58

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?

A)Test marketing
B)Prototype testing
C)Concept testing
D)Competitive benchmarking

Question 59

All of the following are likely career opportunities for marketing majors except:

A)distribution management.
B)personal selling.
C)accounting.
D)retailing.

Question 60

marketers include manufacturers,intermediaries,institutions,and the government.

A)Undifferentiated
B)B2B
C)Profit seeking
D)Institutional

Question 61

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

A)One-to-one
B)B2B
C)Usage
D)Volume

Question 62

All of the following statements about the B2B market are true except:

A)industrial buyers tend to be more rational.
B)B2B market is smaller than the consumer market.
C)the markets are often geographically concentrated.
D)the size of industrial customers is relatively large.

Question 63

Contacting customers after a sale to reassure them that they made the right decision is intended to offset:

A)cognitive dissonance.
B)reverse satisfaction.
C)doubt resolution.
D)relationship conflict.

Question 64

Which of the following is the best example of cognitive dissonance?

A)Julie decided to eat at a restaurant she previously avoided after learning that several movie stars she admires endorse the restaurant.
B)Rico just bought an expensive stereo system and is already worried that he could have found a better deal if he had shopped more carefully.
C)John has been shopping for a new television set,but has not yet made a purchase because he is having trouble deciding which brand to buy.
D)Marquetto is torn between going to the movies with friends or staying home and studying for an exam tomorrow.

Question 65

Which of the following is not consistent with relationship marketing?

A)Focusing more on retaining existing customers than on attracting new customers.
B)Working with buyers to determine their individual needs.
C)Developing market share through mass media advertising.
D)Maintaining long-term relationships with customers.

Question 66

Which of the following describes individuals that want goods and services for personal consumption and have the resources to buy them?

A)Market segmentation
B)Secondary market
C)Public and private markets
D)Consumer market

Question 67

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' _.

A)cognitive behaviours
B)market position
C)four Ps
D)subcultures

Question 68

A firm gathers data by conducting surveys,interviewing customers,or mailing out questionnaires.

A)unbiased
B)non-referenced
C)primary
D)secondary

Question 69

Which of the following describes the time period immediately after the development of mass production assembly lines?

A)Selling era
B)Production era
C)Marketing era
D)Customer relationship era

Question 70

Population growth and changing demographics are examples of the business environment that can have an effect on sales.

A)economic
B)social
C)technological
D)competitive

Question 71

marketing is the marketing of products to groups of customers a firm decides it can serve profitably.

A)Objective
B)Subjective
C)Target
D)Departmentalized

Question 72

Which of the following represents a technique used to obtain primary data?

A)Conducting a telephone or online survey.
B)Establishing a database to store and cross-index articles from leading journals and research publications.
C)Gaining access to an unpublished government report from the Federal Trade Commission.
D)Reviewing the best-selling textbooks that present basic marketing principles.

Question 73

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.

A)patent
B)prototype
C)brand name
D)copyright

Question 74

Nature's Sun designs and manufactures clothing for active people,focusing their marketing efforts on people who participate in strenuous outdoor activities such as running and mountain climbing.For example,the firm advertises heavily in magazines for runners.This approach suggests that Nature's Sun is using factors to segment its market.

A)demographic
B)volume
C)value
D)psychographic

Question 75

Which of the following refers to the time period from our country's first settlers through the early 1900s?

A)Production era
B)Selling era
C)Customer relationship era
D)Marketing era

Question 76

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

Question 77

All of the following are part of the marketing concept except:

A)a customer service orientation.
B)an advertising orientation.
C)a profit orientation.
D)a consumer orientation.

Question 78

Which of the following would be considered part of a firm's marketing mix?

A)Identifying the best source of funds to finance a firm's marketing activities.
B)Designing the most efficient production plan.
C)Establishing a production schedule that enables the firm to meet forecasted sales.
D)Determining the best pricing strategy for a product.

Question 79

According to the concept,a firm must (1)find out what customers want and provide it, (2)make sure everyone in the organization has a service orientation,and (3)provide goods and services that will earn a profit.

A)stakeholder relationship
B)demand-side
C)consumerism
D)marketing

Question 80

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

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