Question 1

Market segmentation is the process of dividing a market into several groups that have dissimilar characteristics.

Accepted Answer

A) True 
 B)False

Question 2

A cash register is likely a B2B product.

Accepted Answer

A) True 
 B)False

Question 3

Population growth and changing demographics are two elements of a firm's social environment.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following would be considered part of a firm's marketing mix?

Accepted Answer

A)  Identifying the best source of funds to finance a firm's marketing activities.
B)  Designing the most efficient production plan.
C)  Establishing a production schedule that enables the firm to meet forecasted sales.
D)  Determining the best pricing strategy for a product.E) A) and D)
F) A) and B)

Question 5

Which of the following refers to the time period from our country's first settlers through the early 1900s?

Accepted Answer

A)  Production era
B)  Selling era
C)  Customer relationship era
D)  Marketing eraE) A) and B)
F) A) and D)

Question 6

Jose has accepted a sales position at Business Solutions Corporation.Prior to this job,Jose worked in the electronics department of a retail store selling personal computers to consumers.In his new job at Business Solutions,Jose will sell personal computers to businesses.Despite the fact that the products sold to these two customer groups are quite similar,Jose is likely to find that purchasing decisions by buyers in the two markets will be influenced by different factors.

Accepted Answer

A) True 
 B)False

Question 7

The number of buyers in business-to-business markets is:

Accepted Answer

A)  much larger than the number in the consumer market.
B)  relatively small compared to the consumer market.
C)  roughly the same as the number of buyers in the consumer market.
D)  controlled by government regulation.E) A) and B)
F) A) and C)

Question 8

After years of using a mass marketing strategy,Digital Print Shops has responded to new competition from national chain stores by focusing on small market segments that have been ignored by their larger competitors.Digital believes that by offering these market segments personalized customer services it can attract a loyal group of customers willing to pay premium prices.Digital's strategy to improve profits is known as:

Accepted Answer

A)  respondent change.
B)  micro marketing.
C)  niche marketing.
D)  environmental scanning.E) A) and D)
F) A) and B)

Question 9

Relationship marketing moves away from mass production and toward custom-made goods and services.

Accepted Answer

A) True 
 B)False

Question 10

Social media marketing has two distinct dimensions.What are they?

Accepted Answer

A)  Consumer generated marketing efforts to promote brands and companies,and the use of online tools and platforms by marketers to promote brands and companies
B)  Once a product is sold focus on the next customer,and a profit orientation
C)  The ability to persuade consumers to purchase goods they don't really need,and a production focus
D)  Customer orientation and profitE) B) and D)
F) B) and C)

Question 11

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments?

Accepted Answer

A)  Narrowcast marketing
B)  Focused marketing
C)  Micro targeting
D)  Niche marketingE) C) and D)
F) A) and D)

Question 12

A _______marketing strategy develops products and promotions designed to please large groups of people.

Accepted Answer

A)  value
B)  volume
C)  mass
D)  relationshipE) C) and D)
F) A) and B)

Question 13

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

Accepted Answer

A)  A decline in the cost of advertising on radio and newspapers enabling firms to more efficiently reach a wide audience.
B)  A growing acceptance of free trade agreements such as NAFTA.
C)  A Supreme Court ruling that limits the market share individual firms in a market are allowed to serve.
D)  A manufacturing improvement enabling firms to more efficiently design and produce specialized products for small groups of consumers.E) A) and B)
F) B) and C)

Question 14

A loaf of bread is an example of a product that is always classified as a consumer good.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Which of the following correctly identifies the motivation of firms using a market segmentation strategy?

Accepted Answer

A)  With limited resources,firms can better satisfy the wants and needs of a smaller target market.
B)  Government regulations require firms to maintain accurate records to show that the firm has not discriminated against a market segment.
C)  This strategy enables a firm to identify common traits in different consumer groups.
D)  Firms can avoid the government's anti-trust laws by selecting a small slice of a larger market.E) A) and D)
F) B) and C)

Question 17

The business-to-business (B2B)market involves the marketing of goods and services to institutions that sell,rent,produce or supply goods to others.

Accepted Answer

A) True 
 B)False

Question 18

Martinez is a marketing manager for Friendly Financial Services.He has been looking at a variety of factors,such as technological,socio-cultural and economic trends as well as competitive conditions.Martinez is confident that these factors will impact Friendly's future marketing success.His efforts are an example of:

Accepted Answer

A)  competitive benchmarking.
B)  relationship marketing.
C)  environmental scanning.
D)  target marketing.E) None of the above
F) A) and B)

Question 19

The McDonald's Foundation is a non-profit organization that helps underprivileged children.As a non-profit organization,it should avoid performing marketing functions,since these functions are designed to help organizations earn a profit.

Accepted Answer

A) True 
 B)False

Question 20

Outstanding service after the sale was a primary focus of businesses during the selling era.

Accepted Answer

A) True 
 B)False

Exam 14: Marketing: Helping Buyers Buy

A _______marketing strategy develops products and promotions designed to please large groups of people.

Correct Answer
verified

The McDonald's Foundation is a non-profit organization that helps underprivileged children.As a non-profit organization,it should avoid performing marketing functions,since these functions are designed to help organizations earn a profit.

Correct Answer
verified

Which of the following would be considered part of a firm's marketing mix?

Correct Answer
verified

The business-to-business (B2B)market involves the marketing of goods and services to institutions that sell,rent,produce or supply goods to others.

Correct Answer
verified

Which of the following refers to the time period from our country's first settlers through the early 1900s?

Correct Answer
verified

The number of buyers in business-to-business markets is:

Correct Answer
verified

Relationship marketing moves away from mass production and toward custom-made goods and services.

Correct Answer
verified

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

Correct Answer
verified

Population growth and changing demographics are two elements of a firm's social environment.

Correct Answer
verified

Outstanding service after the sale was a primary focus of businesses during the selling era.

Correct Answer
verified

Correct Answer
verified

A cash register is likely a B2B product.

Correct Answer
verified

A loaf of bread is an example of a product that is always classified as a consumer good.

Correct Answer
verified

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments?

Correct Answer
verified

Market segmentation is the process of dividing a market into several groups that have dissimilar characteristics.

Correct Answer
verified

Which of the following correctly identifies the motivation of firms using a market segmentation strategy?

Correct Answer
verified

Correct Answer
verified

Social media marketing has two distinct dimensions.What are they?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Exam 14: Marketing: Helping Buyers Buy

A _______marketing strategy develops products and promotions designed to please large groups of people.

Correct AnswerverifiedShow Answer

The McDonald's Foundation is a non-profit organization that helps underprivileged children.As a non-profit organization,it should avoid performing marketing functions,since these functions are designed to help organizations earn a profit.

Correct AnswerverifiedShow Answer

Which of the following would be considered part of a firm's marketing mix?

Correct AnswerverifiedShow Answer

The business-to-business (B2B)market involves the marketing of goods and services to institutions that sell,rent,produce or supply goods to others.

Correct AnswerverifiedShow Answer

Which of the following refers to the time period from our country's first settlers through the early 1900s?

Correct AnswerverifiedShow Answer

The number of buyers in business-to-business markets is:

Correct AnswerverifiedShow Answer

Relationship marketing moves away from mass production and toward custom-made goods and services.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Population growth and changing demographics are two elements of a firm's social environment.

Correct AnswerverifiedShow Answer

Outstanding service after the sale was a primary focus of businesses during the selling era.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A cash register is likely a B2B product.

Correct AnswerverifiedShow Answer

A loaf of bread is an example of a product that is always classified as a consumer good.

Correct AnswerverifiedShow Answer

Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments?

Correct AnswerverifiedShow Answer

Market segmentation is the process of dividing a market into several groups that have dissimilar characteristics.

Correct AnswerverifiedShow Answer

Which of the following correctly identifies the motivation of firms using a market segmentation strategy?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Social media marketing has two distinct dimensions.What are they?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
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