Question 1

Culture is difficult for marketers to integrate into their analysis of consumer wants because cultural values tend to change radically from one generation to the next.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Buyers in the B2B market tend to make rational decisions.

Accepted Answer

A) True 
 B)False

Question 4

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 C)
F) B) and C)

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Exploring _________ data first helps marketers minimize marketing research costs.

Accepted Answer

A)  focus group
B)  newly created survey
C)  primary
D)  secondaryE) A) and D)
F) B) and D)

Question 7

When making marketing mix decisions,marketing managers should consider:

Accepted Answer

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

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A)  volume
B)  mass
C)  relationship
D)  valueE) All of the above
F) A) and C)

Question 11

) A widely used technique for collecting primary data is:

Accepted Answer

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

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Compared to consumer markets,B2B markets:

Accepted Answer

A)  demand more promotional emphasis on radio and television in order to stimulate sales.
B)  rely less on relationship marketing.
C)  rely less on intermediaries.
D)  are characterized by buyers who behave less rationally.E) C) and D)
F) B) and D)

Question 14

A firm's marketing mix refers to the combination of:

Accepted Answer

A)  goods the firm offers to different market segments.
B)  advertising media the firm utilizes to promote its products.
C)  strategies regarding product,price,place,and promotion.
D)  people directly involved in making marketing decisions.E) C) and D)
F) A) and D)

Question 15

A firm that uses ___________ segmentation divides a market into groups based on religion,race,and profession.

Accepted Answer

A)  benefit
B)  demographic
C)  value
D)  targetE) B) and D)
F) B) and C)

Question 16

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?

Accepted Answer

A)  culture
B)  subculture
C)  learning
D)  cognitive dissonanceE) A) and D)
F) None of the above

Question 17

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

Accepted Answer

A)  market share
B)  profit
C)  customer
D)  productionE) B) and D)
F) C) and D)

Question 18

The greatest marketing need during the production era was for:

Accepted Answer

A)  service after the sale
B)  less expensive distribution and storage
C)  getting closer to the customer
D)  knowing where to advertizeE) None of the above
F) A) and B)

Question 19

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

Accepted Answer

A)  production operations
B)  marketing mix
C)  product development
D)  competitive benchmarkingE) None of the above
F) A) and B)

Question 20

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:

Accepted Answer

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

Exam 14: Marketing: Building Customer and Stakeholder Relationships

Buyers in the B2B market tend to make rational decisions.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Compared to consumer markets,B2B markets:

Correct AnswerverifiedShow Answer

Exploring _________ data first helps marketers minimize marketing research costs.

Correct AnswerverifiedShow Answer

) A widely used technique for collecting primary data is:

Correct AnswerverifiedShow Answer

A firm's marketing mix refers to the combination of:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

Culture is difficult for marketers to integrate into their analysis of consumer wants because cultural values tend to change radically from one generation to the next.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The greatest marketing need during the production era was for:

Correct AnswerverifiedShow Answer

When making marketing mix decisions,marketing managers should consider:

Correct AnswerverifiedShow Answer

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:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A firm that uses ___________ segmentation divides a market into groups based on religion,race,and profession.

Correct AnswerverifiedShow Answer

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