Question 1

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

Accepted Answer

A)   market analysis
B)   marketing research
C)   opportunity identification
D)   market prospecting

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.

Accepted Answer

A) True 
 B)False  True

Question 4

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

Accepted Answer

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

Question 5

The Connecting Through Social Media box shows marketers are increasing their customer reach through creative ways, like Snapchat filters.

Accepted Answer

A) True 
 B)False  True

Question 6

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

Accepted Answer

A)   developing a website that seeks customer feedback and allows customers to communicate with the company
B)   creating a national advertising campaign using radio and television to increase market share
C)   designing a promotional campaign to increase cooperation among the firm's suppliers
D)   distributing goods through limited service discount stores

Question 7

A widely used technique commonly used for collecting primary data is

Accepted Answer

A)   collecting relevant articles in trade journals.
B)   benchmarking.
C)   conducting a survey.
D)   reviewing government reports.

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Rick, a marketing manager for Fix-It Tools, is discouraged with the way his organization markets its products. Currently Fix-It-Tools utilizes a strategy aimed toward the largest possible number of people. The company also relies heavily on television and online advertising. Rick protests to management that the company is not listening to its customers and is in danger of losing many of them to firms that create a personal dialogue with their buyers. What does Fix-It currently practice?

Accepted Answer

A)   a constant change strategy
B)   relationship marketing
C)   mass marketing
D)   market segmentation

Question 10

A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

Accepted Answer

A) True 
 B)False

Question 11

When Briana developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she was engaging in

Accepted Answer

A)   test marketing.
B)   psychographic segmentation.
C)   concept testing.
D)   prototype analysis.

Question 12

The last step in the marketing process often includes

Accepted Answer

A)   collecting the cash from sales to consumers.
B)   developing a written report to summarize the results of the period's marketing activities.
C)   deciding the best way to distribute the product.
D)   building relationships with customers. D

Question 13

A key element of customer relationship management is to

Accepted Answer

A)   keep the price of goods as low as possible.
B)   develop a strategy to achieve the largest possible market share.
C)   allow customers to participate in the management decisions of the firm.
D)   learn as much as possible about customers.

Question 14

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements about marketing is the most accurate?

Accepted Answer

A)   Because nonprofit organizations are not motivated by profit, marketing activities are not consistent with their goals.
B)   To be successful, marketers must be able to persuade consumers to purchase goods they don't really need.
C)   Once a product is sold, focus on the next customer.
D)   Marketers recognize the need to learn as much as possible about customers and do everything possible to satisfy them.

Question 16

Describe the steps involved in the marketing process.

Accepted Answer

Marketing is the activity, set of instit...

Question 17

Separating a market by the amount of the product consumed is known as volume segmentation.

Accepted Answer

A) True 
 B)False

Question 18

According to the Spotlight on Small Business box, small businesses can make big money by

Accepted Answer

A)   participating in mass production.
B)   jumping on board with technological advances as they evolve.
C)   shipping products to consumers faster than competitors.
D)   opening online stores to accompany the already established brick-and-mortar shops.

Question 19

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

Accepted Answer

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

Question 20

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

Accepted Answer

A)   the end use of the product.
B)   the decision-making process used to purchase the good or service.
C)   who the buyer represents.
D)   whether the good is new or used.

Exam 13: Marketing: Helping Buyers Buy

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

Correct Answer
verified

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

Correct Answer
verified

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.

Correct Answer
verified
True

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

Correct Answer
verified

The Connecting Through Social Media box shows marketers are increasing their customer reach through creative ways, like Snapchat filters.

Correct Answer
verified
True

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

Correct Answer
verified

A widely used technique commonly used for collecting primary data is

Correct Answer
verified

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

Correct Answer
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Correct Answer
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A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

Correct Answer
verified

When Briana developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she was engaging in

Correct Answer
verified

The last step in the marketing process often includes

Correct Answer
verified
D

A key element of customer relationship management is to

Correct Answer
verified

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

Correct Answer
verified

Which of the following statements about marketing is the most accurate?

Correct Answer
verified

Describe the steps involved in the marketing process.

Correct Answer
verified
Marketing is the activity, set of instit...
View Answer

Separating a market by the amount of the product consumed is known as volume segmentation.

Correct Answer
verified

According to the Spotlight on Small Business box, small businesses can make big money by

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Exam 13: Marketing: Helping Buyers Buy

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.

Correct AnswerverifiedTrue

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

Correct AnswerverifiedShow Answer

The Connecting Through Social Media box shows marketers are increasing their customer reach through creative ways, like Snapchat filters.

Correct AnswerverifiedTrue

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

Correct AnswerverifiedShow Answer

A widely used technique commonly used for collecting primary data is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

Correct AnswerverifiedShow Answer

When Briana developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she was engaging in

Correct AnswerverifiedShow Answer

The last step in the marketing process often includes

Correct AnswerverifiedD

A key element of customer relationship management is to

Correct AnswerverifiedShow Answer

The primary factors involved in the marketing mix are sometimes called the 5 intangibles of marketing.

Correct AnswerverifiedShow Answer

Which of the following statements about marketing is the most accurate?

Correct AnswerverifiedShow Answer

Describe the steps involved in the marketing process.

Correct AnswerverifiedMarketing is the activity, set of instit...View AnswerShow Answer

Separating a market by the amount of the product consumed is known as volume segmentation.

Correct AnswerverifiedShow Answer

According to the Spotlight on Small Business box, small businesses can make big money by

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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True

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True

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D

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Marketing is the activity, set of instit...
View Answer

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