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Exam 13: Marketing: Helping Buyers Buy

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Question 1

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

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

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Question 2

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Providing people with a description of a potential new good or service and asking if the idea appeals to them are key parts of the marketing process.

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Question 3

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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.

Marketing is different in B2B markets than in consumer markets.Identify and explain three differences between the business-to-business market and the consumer market.

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:

Selecting which groups an organization can serve profitably is called target marketing.

Consumer behavior is influenced by the attitudes,values,and ways of doing things that are passed from one generation to the next.

The Bay Street Bakery BSB) has a respected following.When it moved the business to a famous resort area,it took a big risk;however,the owners were confident that its unique European style cookies and pastries would win customer raves.And they were right! Fortunately,one of the members of the family business was convinced that BSB needed to stay in touch with its loyal customers.When customers visited the bakery,the business collected names and addresses in order to send messages about promotions and coupons to valued customers.Marketing professionals refer to this strategy as:

In the marketing research process,marketers should examine all the implications of alternative solutions before making a recommendation.

Which of the following statements about the B2B market is true?

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

As a marketing manager for a retailer of lighting products,Lucinda will likely be involved in which of the following?

Marketers have learned that customers' perceptions about how a business acts can be very important.As the Thinking Green box suggests,

Susan purchased an expensive new automobile four months ago after struggling to choose between a Kadillac and a Rolls Mobile.Even now,after purchasing the Rolls Mobile,she wonders if she made the right choice.Susan is experiencing:

Melanie is a sales representative for a college textbook publisher.She spends a great deal of time visiting college professors who have already adopted one of her books for use in her classes.She makes sure they have all the supplements to the book they need and are informed about when new editions will be available.Melanie's emphasis on keeping her existing customers satisfied is consistent with the philosophy of relationship marketing.

Several years ago,Canadian Sam Holman realized there may be a need for a stronger,more durable wood baseball bat.He went through the process of developing the SamBat™,a maple bat of precise dimensions.He set a price with a reasonable margin,he decided to take special orders and sell bats directly from his garage,and he promoted the bat with sales calls to professional baseball camps,where ball players could sample the bat.In marketing terms,we recognize that Mr.Holman designed the _______________.

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

In order to be successful,marketers avoid small market segments in favor of larger targets.

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?

Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.