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Exam 13: Marketing: Helping Buyers Buy

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Question 111

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The marketing process includes decisions about the best way to get the product to the consumer.

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Question 112

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A key element of customer relationship management is to:

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.

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Question 113

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Firms developing products for a narrow segment of a market are less likely to profitably satisfy that group's needs.

Marketing research helps determine what customers have purchased in the past,what situational changes have occurred to change consumer preferences,and what consumers are likely to want in the future.

Successful marketers adjust their product offerings as the level of economic activity changes.

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

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

Buyers in the B2B market tend to make more rational decisions than buyers in the consumer market.

Products such as computers,telecommunications equipment,PDAs,and other manufactured or mass produced items are always classified as B2B products.

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

Bob has the responsibility for product development,pricing,promotion,and distribution of Hi Vee Vitamins for children.Bob's job would

A cup of yogurt is an example of a product that is always classified as a consumer good.

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

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

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

A firm's marketing mix consists of 4 major components,which are generally referred to as the four:

Customer relationship management (CRM)is the process of learning as much as possible about customers and doing everything you can to satisfy them.

Cognitive dissonance refers to the confusion and frustration people experience when they compare different products they rarely use before making a purchase.

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

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 aerobics 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 health club to appeal to young,well-educated women.After visiting health clubs 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 Curves and Shapes.It offers a spacious and attractive locker room,better aerobics 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 health 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 Curves and Shapes.She wants to please her existing customers and keep them coming back.In fact,now that Curves and Shapes have 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 health club industry,trying to identify factors that can affect the marketing success of her health club.She subscribes to several journals that cover trends and report on research findings related to the health club business.She has found that these journals provide her with an inexpensive source of useful information. -When Callie wants to obtain information to research changes in her market or determine what her customers are likely to want in the future,she relies on the articles and data available in trade journals,feedback from surveys,and personal interviews of her customers.Which of the following statements about Callie's sources of information is most accurate?