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Exam 13: Marketing: Helping Buyers Buy

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Question 41

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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.

A) True
B) False

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Question 42

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Price is the determining factor as to whether a good is classified as a consumer product or a B2B product.

A) True
B) False

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Question 43

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Marketing is the activity,set of institutions,and processes for creating,communicating,delivering,and exchanging offerings that have a value for customers,clients,partners,and society at large.

Because the marketing concept emphasizes a profit orientation,marketing has not been used successfully by nonprofit organizations.

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

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.

H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market.Although consumer response was positive to the idea of the new product,management wants to find out more before committing to full-scale production.The next step H2 O'Yeah's marketing department is likely to take is to:

Unlike advertising,which is part of the promotional component of the marketing mix,personal selling is considered to be part of the distribution function.

Good marketing research helps us identify what customers have purchased in the past and what they are likely to want in the future.Now that Disney™ is preparing to open its latest Theme Park in Shanghai,it will be collecting lots of information on what customers want while they are at the park.The marketing research company representing Disney might create original surveys with targeted questions that help it collect reliable information.This type of research is described by marketing professionals as the collection of________.

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

The strategy of focusing on small but profitable market segments is called micro marketing.

People with unsatisfied wants and needs who have both the ability and the willingness to buy are:

Jeep™ currently owned by Chrysler™) recognizes that it has customers who like roomy SUVs,while others like more compact versions.It also has customers who prefer off-road,sporty type vehicles.Jeep makes several models such as Grand Cherokee™,Liberty™,Patriot™,Compass™,and Wrangler™) to satisfy the different tastes and lifestyles of its customers.Grand Cherokee customers may want traditional SUV luxury,and seldom settle for anything other than leather interiors.Liberty customers might be described as sportier,by nature,and typically women.Wrangler customer characteristics may include a group that is seldom over 30 years of age,typically male,and have often served in the U.S.military.By recognizing differences in its customers,and using different characteristics to define its customers,Jeep is:

Using advances in technology to maintain databases of customer information is more important for firms involved in mass marketing than it is for those firms using relationship marketing.

Bob has the responsibility for product development,pricing,promotion,and distribution of Hi Vee Vitamins for children.Bob's job would not involve:

Travel agencies demonstrate a one-to-one marketing strategy when they develop unique vacation packages for individual customers.

Which of the following statements is most consistent with today's views on effective marketing?

When Callie attempts to identify economic,social,and competitive factors that could affect her success in the health club market,she is engaging in:

Population growth and changing demographics are two elements of a firm's socio-cultural environment.

For safety sake,an organization should produce as many products as possible since customers are not a good source of informing the organization what they want to buy.