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Exam 13: Marketing: Helping Buyers Buy

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Question 1

True/False

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The number of customers in business-to-business markets is quite large compared to the number of customers in the consumer market.

A) True
B) False

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Question 2

Multiple Choice

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marketing involves developing a unique mix of goods and services for each individual customer.

A) B2B
B) Volume
C) Usage
D) One-to-one

E) B) and C)
F) All of the above

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Question 3

Multiple Choice

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

It is the job of marketers today to persuade consumers to buy the goods and services those marketers have available to sell.

Peggy, a fitness instructor at the local YMCA, has been invited by a magazine publisher to meet with nine other people to discuss a new concept for a health and fitness magazine. A member of the publisher's marketing staff will be at the meeting to guide the discussion and to record the participants' comments and suggestions. If Peggy accepts the invitation, she will be participating in a focus group.

Learning involves changes in an individual's behavior resulting from previous experiences and information.

In the marketing research process, marketers should examine all the implications of alternative solutions before making a recommendation.

The first step in the marketing research process is to collect relevant data.

Susan purchased an expensive new automobile four months ago after struggling to choose between a Kadillac and a Rolls Mobile. Even now, after purchasing the Rolls Mobile, she wonders if she made the right choice. Susan is experiencing:

Jason bought an expensive new sports car last week. Immediately after the purchase, he worried that he paid too much, and that a less expensive model with better gas mileage would have been a wiser choice. Marketers refer to the doubts Jason is experiencing as post-purchase stress syndrome.

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

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.

The marketing manager's job is to design a program that effectively combines the ingredients of the marketing mix.

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

In the evolution of marketing, the marketing concept era emphasized selling and advertising in an effort to persuade consumers to buy existing products.

Top management at Prinze Auto Sales has decided to replace their traditional marketing approach with an approach that emphasizes relationship marketing. Under this new approach, Prinze's salespeople will be expected to devote less time to current customers and a larger share of their time searching for new customers.

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.

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

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.

In an effort to increase customer loyalty, management at Phat International has worked to create a personal dialogue with their customers. This dialogue will enable Phat to offer products that exactly meet their customers' needs and provide personalized service before and after the sale. Phat International's new strategy illustrates: