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Exam 11: Building Customer Relationships Through Effective Marketing

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Question 51

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What are the major forces in the marketing environment?

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The economic forces affecteconomic condi...

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Question 52

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Macy's combines the inputs of buyer surveys,time-series analyses,correlation analyses,executive judgments,and market tests to develop a tool for predicting sales for the Christmas season.This tool would be termed a

A) market analysis.
B) sales forecast.
C) market outlook.
D) budget analysis.
E) purchase plan.

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

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Question 53

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If Randell,vice president of marketing,is at the stage in his market research where he is gathering information about the problem from published data and from people who have experience with the problem,he is at which stage?

The elements of the marketing mix are

If you have always been committed and loyal to Hewlett-Packard technology products,your customer lifetime value to Hewlett-Packard would likely be quite high.

Club Med Inc.talks to its present and potential customers to assess their needs for its products.Then it develops products to satisfy those needs.The firm is thus applying the ____ concept.

What focuses on using information about customers to create marketing strategies that develop and sustain desirable customer relationships?

Sales forecasts generally are not affected by the level of marketing effort planned for the forecast period.

The product Centrum Silver is positioned as a vitamin supplement for older adults.The makers of Centrum Silver have segmented the vitamin market on a ____ basis.

Your Wish,Inc. Cindy worked for a retail company and noticed there were many things it could do better.She shared some of her ideas with upper management,but it did not want to do things differently.When Cindy went home to talk to her husband,they both realized that,given her passion,it would be better for Cindy to open her own business.After a lot of consideration,she decided to open a sporting goods store called Your Wish,Inc.She also knew just where to open the store⎯right next to her house. To be certain to address all aspects of the business,Cindy hired a marketing research firm to determine the best location.Once all the research was compiled and analyzed,she realized that it would actually be better to open the store in a different area.She also realized that deciding where to locate the business was not the only major concern.More specifically,she would have to focus on the four elements of the marketing mix as well,creating a whole marketing plan.Her husband mentioned the possibility of using online information services to help with the business.With her husband's support and a good marketing plan,Cindy felt that she would be prepared to make the right decisions. -Refer to Your Wish,Inc.In preparing a marketing plan,Cindy should ensure that all of the following components are included except a(n)

Karen,the marketing manager of RLS Manufacturing,is evaluating factors that could affect sales of its line of golf bags over the next year.She can get all of the following from the marketing plan except

Females in a market can be classified as

The income an individual receives from all sources less the Social Security taxes that the individual must pay is called personal income.

The Terminator Home Security Company markets its infrared alarm system to urban residents who are more likely to experience a theft than their rural counterparts.This is an example of ____ segmentation.

What is a company sales forecast? Why is it important to the sales department as well as to the people who handle raw materials inventory,finished-goods inventory,hiring,and advertising?

Amanda is a high school student.All of her friends buy their jeans from Express,so she decides to buy Express jeans even though Levi's fit her better.Amanda's purchasing decision is most influenced by ____ factors.

MARS Chocolate Company is making an estimate of the amount of candy it expects to sell during the Christmas season based on a specified level of marketing effort.The method MARS uses for forecasting sales includes all of the following except

Which of the following is not a major category of factors that influence the consumer buying process?

The AMA defines marketing as "The activity,set of institutions,and process for creating,communicating,delivering,and exchanging offerings that have value for customers,clients,partners,and society at large."

The utility created by making a product available at a location where customers wish to purchase it is called ____ utility.