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Exam 13: Marketing: Helping Buyers Buy

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Question 101

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The marketing concept has three parts: (1) a consumer orientation, (2) a service orientation, and (3) an advertising orientation.

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Question 102

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One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

A) increase in the number of competitors servicing the target market.
B) amount of unemployment in the target market.
C) number of people who can use computers with proficiency.
D) increase in the number of older Americans.

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Question 103

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Effective marketing research involves listening to customers, employees, shareholders, and other stakeholders.

Which of the following is the best example of a market?

A reference group is society's accepted values, attitudes, and ways of doing things that consumers have to learn.

Relationship marketing is rather easy to implement in the B2B market but almost impossible to use in the consumer market due to the sheer size of the consumer market.

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

The strategy of focusing on small but profitable market segments is called micro marketing.

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.

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

Apps, like WeReward, engage users by combining the most basic elements of social media. These apps are a great benefit to both customers and businesses. Customers get a special deal and businesses are able to get their names out to the friends of users. This is an effective form of promotion.

Setting a price for the product or service is one element of the marketing mix.

Successful marketing researchers:

The marketing efforts at Rotary Enterprises place a great deal of emphasis on marketing goods that will earn the firm a profit. This focus on profit orientation shows that Rotary has not yet adopted the marketing concept that emphasizes a customer orientation rather than a profit orientation.

People with unsatisfied wants and needs who have both the ability and the willingness to buy are:

Understanding consumers in marketing is considered so important that a whole area of marketing called _____________________ emerged.

The last step in the marketing process often includes:

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 find a way to identify the new modem in the minds of consumers and 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.

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

Mini-Case Callie is a successful executive who is also a fitness enthusiast. For years she worked out at Big Jim's Gym, the only gym in her small hometown. However, she felt that the environment at Big Jim's was too masculine, and discovered that her female friends agreed. They disliked the small, smelly locker room, and the limited selection of cardio equipment. Most of them eventually quit going to Big Jim's. Callie talked to Jim Nasium, the owner of Big Jim's, about things he could do to attract more women, but Jim had little interest in making any changes. "I've got all the business I can handle," he told Callie. "Why should I spend a bunch of money to redecorate and add extra equipment? Besides, lots of the guys who work out here tell me they like the simple, no-frills atmosphere." Frustrated by Jim's indifference to her ideas, Callie began looking into the possibility of starting a club to appeal to young, well-educated women. After visiting gyms in other towns and talking to several friends to get ideas, she came up with a detailed plan for her club. She then described her ideas to women in the community to see how much interest there was in this type of facility. The extremely positive response encouraged her to go ahead with her plans. It took a while, but she ultimately obtained the financial backing to go into business. Callie calls her new health club ShapeUP. It offers a spacious and attractive locker room, better cardio equipment, a child care area so young mothers can have someone watch their toddlers while they work out, and exercise classes designed to appeal to young women. When a woman joins her club, Callie schedules a free session with a personal trainer who works with the new member to design a personalized workout program. Callie tries hard to keep close to her customers, sending them a monthly newsletter that includes a survey asking what they like and don't like about ShapeUP. She wants to please her existing customers and keep them coming back. In fact, now that ShapeUP has a strong membership base, Callie believes it is more important to keep existing customers loyal than to attract new customers. In addition to the comments from her own customers, Callie also spends a lot of time tracking economic, social, and competitive trends in the gym industry, trying to identify factors that can affect the marketing success of her club. She subscribes to several journals that cover trends and report on research findings related to the business. She has found that these journals provide her with an inexpensive source of useful information. -Which of the following statements about Callie's marketing approach is most accurate?