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Exam 13: Marketing: Helping Buyers Buy

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Question 71

Multiple Choice

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The two major types of markets are the

A) primary market and the secondary market.
B) B2B market and the C2C market.
C) consumer market and the B2B market.
D) target market and the niche market.

E) B) and D)
F) B) and C)

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Question 72

Multiple Choice

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The most important technological change likely to affect the marketing success of many firms is the

A) growth of consumer databases, blogs, and social networking sites.
B) speed of service from faster check-outs.
C) level of computer literacy of the target market.
D) number of computers in use in the home.

E) A) and C)
F) A) and B)

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Question 73

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

A consumer's decision-making process is influenced by his/her ________, consisting of those people who help shape the consumer's beliefs, attitudes, values, or behavior.

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

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

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

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

Malcolm works as the campaign manager for a candidate for the U.S. Senate. He needs to learn as much as possible about the candidate's potential voters. With the information he digs up, he hopes to focus the campaign on the issues most important to voters. What does this best represent?

A phone or online survey is an example of primary data collection.

In the past, companies have designed intricate products that markets did not perceive any need for. They have aired promotional campaigns that have offended audiences. They have priced products out of reach of the target market. Marketing experts defend the importance of ________, the process of gathering all sorts of information about customers and products in order to make informed decisions about the product, price, place, and promotion.

The last step in the marketing process often includes

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

Firms that have adopted ________ seek to do more than simply sell a product; they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.

Kaden bought an expensive sports car last week. Immediately after the purchase, he worried that he paid too much, and that a less expensive model with better gas mileage would have been a wiser choice. Marketers refer to the doubts Kaden is experiencing as post-purchase stress syndrome.

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

The number of customers in B2B markets is quite large compared to the number of customers in the consumer market.

Describe the steps involved in the marketing process.

Mass marketing means developing products and promotions using little segmentation.

Which of the following would best benefit the development of niche marketing?