C (346) 1. ________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. A. SellingC. Marketing B. AdvertisingD. Mixing Markets A (347) 2. The business philosophy of “produce as much as you can because there is a limitless market” is consistent with which of the following marketing eras? A. production eraC. marketing era B. selling eraD. customer relationship era B (348) 3. Which of the following describes the marketing era immediately after the development of mass production assembly lines?
A. production eraC. marketing era B. selling eraD. customer relationship era C (348) 4. The significant increase in consumer demand following World War II marked the beginning of the: A. production era. C. marketing concept era B. selling era. D. customer relationship era D (348 – 349) 5. The __________ is based on three elements: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation. A. mercantile philosophyC. relationship approach to marketing B. hierarchy of needsD. marketing concept C (348-349) 6.
According to the _________ concept, a firm must (1) find out what customers want and provide it, (2) make sure everyone in the organization has customer satisfaction as an objective, and (3) provide goods and services that will earn a profit. A. stakeholder relationshipC. marketing B. consumerismD. demand-side B (349) 7. 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. A. nonprofit marketingC. management by objectives B. customer relationship managementD. he marketing mix C (349) 8. A ___________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations. A. marketC. customer B. profitD. production D (348-349) 9. In the Spotlight on Small Business box, after entrepreneur Lance Fried developed a successful prototype for his waterproof MP3 player, he decided the best strategy for marketing his product was to: A. make his product available through large retailers to get wide distribution. B. charge a very high price to attract only the most affluent consumers.
C. approach venture capitalists to try and find a buyer for the product. D. have it available at trade shows so potential customers could see it. A (350) 10. As the campaign manager for a candidate for the U. S. Senate, Pete works to learn as much as possible about potential voters. With this information, he hopes to focus the campaign on the issues most important to voters. This represents: A. the use of marketing by a nonprofit organization. B. a nonprofit application of the production era strategy. C. the use of public service advertising to sell a political candidate. D. n extension of the profit orientation to a nonprofit organization. B (351) 11. While the four Ps help us remember the basics components of the __________, they don’t have significant relevance in the marketing process. A. production operationC. production development process B. marketing mixD. competitive benchmarking process C (350) 12. A firm’s marketing mix refers to the combination of: A. goods the firm offers to different market segments. B. advertising media the firm utilizes to promote its products. C. strategies regarding product, price, place, and promotion. D. people directly involved in making marketing decisions.
D (353) 13. ___________ is a process used to test consumer reactions about a product among potential users. A. Pro forma brandingC. Prototype B. Virtual designD. Test marketing A (353) 14. Which of the following describes a word, letter, or group of words or letters that differentiate the goods and services of a seller from those of competitors? A. brand nameC. prototype name B. product designationD. generic name D (354) 15. The last step in the marketing process often includes: A. collecting the cash from sales to consumers. B. developing a written report to summarize the results of the period’s marketing activities.
C. deciding the best way to distribute the product. D. building relationships with customers. B (354) 16. __________ consists of all the techniques sellers use to persuade consumers to buy their goods and services. A. AdvertisingC. Pre-selling B. PromotionD. Closing A (350) 17. As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in which of the following? A. setting a price for the light fixtures her firm produces B. deciding the best way to hire new employees to produce the lights C. developing ideas for new ways to produce the lights D. etermining the best way to finance the purchase of new production equipment B (353) 18. 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. A. merchandiserC. copyright B. brand nameD. rototype A (355) 19. A firm gathers ___________ data by conducting surveys, interviewing customers, or mailing out questionnaires. A. primaryC. non-referenced B. secondaryC. unbiased B (355) 20. __________ consists of information that has already been researched by others and is published in journals or books, or has been made available online. A. Primary dataC. Pre-coded information B. Secondary dataD. Technical data B (356) 21. A ________ group consists of a small group of people who meet under the direction of a discussion leader to discuss opinions about an organization, its products, or other issues.
A. conceptC. peer B. focusD. consumer interest B (356 – 357) 22. As part of her responsibilities as a marketing manager, Jan has completed a review of data her department has gathered through telephone interviews, mail surveys and focus groups. Jan is disappointed because the research results strongly suggest that a product idea she helped develop is unlikely to be popular with potential customers. Jan should: A. proceed with product development because the opinions of experienced marketing managers often turn out to be more accurate than marketing research. B. ccept the research results and reevaluate the proposed product. C. continue developing the product, but try to find ways to reduce production costs. D. put the product on temporary hold, throw out the results of the research, and design and conduct a new study. C (358) 23. The most dramatic global change likely to affect the marketing success of most firms is the: A. euro’s replacement of the dollar as the dominant international currency. B. prospect of a worldwide shortage of petroleum. C. widespread growth of the Internet. D. rapid rise in barriers to free trade. A (359) 24.
People with unsatisfied wants and needs who have both the ability and the willingness to buy are: A. a market. C. a profit center B. stockholders. D. a marketing mix C (359) 25. 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 business-to-business market. D. target market and the niche market. D (359) 26. Which of the following describes individuals that want goods and services for personal consumption and have the resources to buy them? A. secondary marketC. market segmentation B. usiness-to-business marketD. consumer market B (359) 27. The __________ market consists of individuals and organizations that want goods and services in order to produce goods and services or to sell, rent, or supply those goods to others. A. consumerC. target B. B2BD. super D (357-358) 29. Roberto 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: A. target marketing. C. relationship marketing B. competitive benchmarking. D. environmental scanning A (360) 30. Which of the following refers to the process of dividing the total market into several groups with similar characteristics? A. Market segmentationC. Market determinants B. Market differentiationD. Market partitioning C (362) 31. A firm that uses __________ segmentation divides a market into groups based on values, attitudes, or interests. A. demographicC. psychographic B. benefitD. normative B (362) 32.
A firm that uses ___________ segmentation divides a market into groups based on life stage, race, or profession. A. benefitC. value B. demographicD. target D (362) 33. Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments? A. micro targetingC. focused marketing B. narrowcast marketingD. niche marketing D (364) 34. One factor that influences the consumer decision-making process is __________, which refers to the set of values, attitudes, and ways of doing things passed from one generation to another in a given society. A. ognitive dissonanceC. group behavior B. the legal environmentD. culture D (362) 35. Nature’s Sun, a company that designs and manufactures clothing for active people, focuses their marketing efforts on people who participate in strenuous outdoor activities such as running and mountain climbing. For example, the firm advertises heavily in magazines for runners. Nature’s Sun is using _________ factors to segment its market. A. demographicC. volume B. valueD. psychographic A (362) 36. Tasteequik Food markets one line of food products to consumers looking for meals that are very simple and quick to prepare.
Tasteequik also offers another line of food targeted to people interested in low fat, high nutrition foods. Tasteequik’s strategy of dividing the market into groups that want similar things from the products they buy is an example of: A. benefit segmentation. C. volume segmentation B. demographic segmentation. D. target segmentation B (361 – 362) 37. Cool People Publications focuses their marketing efforts on reaching African-American teenage girls. The firm believes that they are positioned to profitably serve this group of consumers. Cool People utilizes the strategy of: A. narrowcasting. C. primary marketing
B. target marketing. D. focus group selection B (362) 38. “Selling to everybody and listening to nobody” might be the result of a firm that uses a ________ marketing strategy. A. nicheC. target B. massD. relationship A (363) 39. Firms that adopt a relationship marketing strategy attempt to: A. develop products that meet the specific requirements of individual customers. B. maximize their market share by designing products that appeal to large numbers of customers. C. develop their promotional efforts utilizing mass media such as television, newspapers and radio in order to relate to a large audience. D. aximize market share by controlling production costs and maintaining low prices. D (363) 40. Firms adopting a relationship marketing strategy view technology as a(n): A. promising technique to expand to a mass market. B. threat to the effective and efficient implementation of their strategy. C. tool with limited value because many people are reluctant to place orders or send information electronically. D. increased opportunity to personalize marketing campaigns to meet customer needs. A (364) 41. 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’: A. subcultures. C. cognitive behaviors B. four Ps. D. market position B (361 – 362) 42. Which of the following represents an example of demographic segmentation? A. A firm producing recreational equipment divides its market into groups by region of the country, designing different products for people in different parts of the country. B. An automobile manufacturer offers different types of cars designed to appeal to different age groups and income levels. C.
A motion picture company divides its market according to the attitudes and interests of its customers, marketing some films to people who enjoy action movies and targeting other movies to people who prefer romantic comedies. D. A company that produces food products has designed a special line of easy to prepare microwavable meals that are low fat and high in fiber to attract people interested in the health benefits of the foods they eat. B (365) 43. Business-to-business markets tend to be: A. dominated by marketing intermediaries. B. geographically concentrated.
C. characterized by the presence of a large number of small buyers. D. more emotional than consumer markets. B (365) 44. Which of the following statements about the B2B market is true? A. The markets are often geographically dispersed. B. Industrial buyers are usually large. C. Industrial buyers tend to be more emotional in their purchasing decisions. D. The size of the market is smaller than the consumer market. B (365) 45. After years of selling in the consumer market, Dave accepted a job as a salesperson for a firm that markets its products in the B2B market.
As he considers his new responsibilities, it’s likely that he will: A. find little difference between buyers in the consumer market and those in the business-to-business market. B. discover that decision making in the B2B requires salespeople to be little more than order takers. C. learn that industrial buyers generally require more personal service than buyers in the consumer market. D. find that B2B buyers tend to purchase more on impulse than consumer buyers. 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. C (355) 46. 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? A. Callie is relying entirely on primary data for her research needs. B.
Callie is relying entirely on secondary data for her research. C. The surveys and personal observations provide primary data, while the journals provide secondary data. D. The surveys and personal observations provide secondary data, while the journals provide primary data. A (362) 47. The fact that Curves and Shapes is designed to appeal to women of a certain age, education and income level, means that Callie is using: A. demographic segmentation. C. volume segmentation B. psychographic segmentation. D. geographic segmentation C (352) 48.
When Callie developed a detailed description of her ideas for a health club and asked for feedback from women about the proposal, she was engaging in: A. test marketing. C. concept testing B. psychographic segmentation. D. prototype analyses B (363) 49. Which of the following statements about Callie’s marketing approach is most accurate? A. Callie is basing her marketing approach on a variation of the mass marketing strategy. B. Callie’s marketing strategy appears to be consistent with several key aspects of relationship marketing. C.
Many recent studies suggest that Callie will be unable to earn a reasonable profit because she is serving too small a segment of the market rather than the entire market. D. Callie’s marketing efforts put too much emphasis on retaining existing customers and not enough on retaining new customers. D (357) 50. When Callie attempts to identify economic, social, and competitive factors that could affect her success in the health club market, she is engaging in: A. positioning analysis. C. target marketing B. concept testing. D. environmental scanning