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Exam 13: Marketing: Helping Buyers Buy

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Question 121

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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:

A) environmental scanning.
B) niche marketing.
C) micro-marketing.
D) respondent change.

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

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Question 122

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While most students find marketing an interesting and meaningful subject, one drawback of majoring in marketing is that it prepares students for only a narrow range of career options.

A) True
B) False

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Question 123

Multiple Choice

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A firm that uses ___________ segmentation divides a market into groups based on age, income, or level of education.

The Bay Street Bakery has a respected following. When it moved the business to a famous resort area, it took a big risk; however, the owners were confident that its unique cookies and pastries would win customer raves. Fortunately, one of the members of the family business was convinced the bakery needed to stay in touch with its customers. While visiting the bakery, the business collected names and addresses in order to send messages about promotions and coupons to valued customers. Marketing professionals refer to this strategy as:

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

The Seeking Sustainability box shows us that consumer relationship building can mean many different things. In this case, Campbell's and the Food Bank of South New Jersey are showing their great examples of being socially responsible and promoting sustainability, two attributes consumers are seeking more.

Consumer decisions regarding the products they buy are often influenced by their nationality, religion, or ethnic origin. Marketers realize that the consumer decision-making process is impacted by the consumers':

Business-to-business markets tend to be geographically concentrated.

As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in which of the following?

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

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

After World War II, the tremendous demand for goods and services among the returning veterans allowed businesses to sell whatever they produced without having to worry about what the competition was doing.

Kelly buys only high-priced jeans and expensive sport shoes endorsed by her favorite entertainers. Also, her attitudes and values are shaped by specific statements made by these celebrities. She also supports causes and charities the celebrities endorse. This illustrates how consumer decision making is influenced by:

Eavesdrop Communications just finished a telephone survey of several of their current customers. They plan to conduct in-depth personal interviews with about twenty additional customers. Both the telephone survey and the interviews are sources of primary data for Eavesdrop.

Because consumers differ in age, educational level, income, and tastes, firms will be more likely to succeed if they target a segment of a market and develop goods and services specially tailored to that group.

A firm gathers ___________ data by conducting surveys, interviewing customers, or mailing out questionnaires.

Marketers use very detailed surveys to gather secondary data.

The two major types of markets are the:

The __________ is based on three elements: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation.

Which of the following is a part of the marketing concept?