Question 1

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.

Accepted Answer

A) True 
 B)False

Question 2

Population experts predict "global gridlock" by mid-century.There are about 800 million vehicles on the roads today.By 2050,the prediction is over 2 billion vehicles on our roadways.Entrepreneurs will have the ability to solve this problem by building a global interconnected transportation system.Which of the following statements puts a marketing perspective on this issue?

Accepted Answer

A)   Needs and wants are continually changing,and marketers at any particular time are uncovering needs and wants,and filling them with satisfying products and services.
B)   The majority of the world's population will be wealthy enough to support such a system,and will gladly contribute taxes for this effort.
C)   Due to population explosion,production capacity will be very limited by 2050,which will make a project of this size realistic to conceive.
D)   The marketing concept involves a profit orientation.Economic feasibility always must be satisfied before social responsibility in a marketing environment.E) B) and C)
F) None of the above

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Exploring _________ data first helps marketers minimize marketing research costs.

Accepted Answer

A)   focus group
B)   personal interview
C)   primary
D)   secondaryE) All of the above
F) A) and C) D

Question 5

Which of the following would best benefit the development of niche marketing?

Accepted Answer

A)   A decline in the cost of advertising on radio and newspapers enabling firms to more efficiently reach a wide audience
B)   A Supreme Court ruling that limits the market share individual firms in a market are allowed to serve
C)   A growing acceptance of free trade agreements such as NAFTA
D)   A manufacturing improvement enabling firms to more efficiently design and produce specialized products for small groups of consumersE) A) and D)
F) B) and C) D

Question 6

When classifying a product as a consumer product or a B2B product,the primary factor to consider is the financial status of the buyer.

Accepted Answer

A) True 
 B)False  False

Question 7

Mucho Tacos Restaurants,Inc.is a chain of restaurants featuring authentic Mexican cuisine in seven states.The company is looking into opening restaurants in additional markets and also wants to expand and to improve its menu.Which of the following is an example of secondary data the owners of Mucho Tacos might find useful?

Accepted Answer

A)   Information published by the U.S.Bureau of the Census that identifies which regions of the United States are experiencing the most rapid growth in Mexican-American population
B)   A telephone survey by the marketing department of Mucho Tacos asking for opinions about the quality of the food at the restaurants
C)   A focus group of teenagers who like Mexican food who are asked about their reactions to new food dishes the restaurant may offer
D)   E-mail responses the chain receives to a series of customer satisfaction questions posted on its websiteE) B) and C)
F) None of the above

Question 8

Mass marketing means developing products and promotions using little segmentation.

Accepted Answer

A) True 
 B)False

Question 9

Business-to-business markets tend to be:

Accepted Answer

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.E) None of the above
F) A) and D)

Question 10

During the selling era,businesses turned from an emphasis on production to an emphasis on selling.

Accepted Answer

A) True 
 B)False

Question 11

Psychographic segmentation involves dividing a market into segments based on lifestyle,values,attitudes,or interests.

Accepted Answer

A) True 
 B)False

Question 12

Test marketing involves developing an accurate description of the product and asking people if the proposed product appeals to them.

Accepted Answer

A) True 
 B)False

Question 13

The marketing concept was used heavily by business when it was first suggested in the 1950s.

Accepted Answer

A) True 
 B)False

Question 14

A widely used technique commonly used for collecting primary data is:

Accepted Answer

A)   collecting relevant articles in trade journals.
B)   benchmarking.
C)   conducting a survey.
D)   reviewing government reports.E) None of the above
F) B) and D)

Question 15

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

Accepted Answer

A)   roughly the same as the number of buyers in the consumer market.
B)   much larger than the number in the consumer market.
C)   relatively small compared to the consumer market.
D)   controlled by government regulation.E) A) and D)
F) A) and C)

Question 16

In the production era the greatest marketing need was for distribution and storage.

Accepted Answer

A) True 
 B)False

Question 17

Secondary data should be gathered first because this type of information is less expensive to obtain.

Accepted Answer

A) True 
 B)False

Question 18

Marketing goods and services to the B2B market relies more heavily on advertising than marketing efforts aimed toward the consumer market.

Accepted Answer

A) True 
 B)False

Question 19

Setting prices higher than the competition can help create an image of quality.

Accepted Answer

A) True 
 B)False

Question 20

Separating a market by the amount of the product consumed is known as volume segmentation.

Accepted Answer

A) True 
 B)False

Exam 13: Marketing: Helping Buyers Buy

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.

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Exploring _________ data first helps marketers minimize marketing research costs.

Correct Answer
verified
D

Which of the following would best benefit the development of niche marketing?

Correct Answer
verified
D

When classifying a product as a consumer product or a B2B product,the primary factor to consider is the financial status of the buyer.

Correct Answer
verified
False

Correct Answer
verified

Mass marketing means developing products and promotions using little segmentation.

Correct Answer
verified

Business-to-business markets tend to be:

Correct Answer
verified

During the selling era,businesses turned from an emphasis on production to an emphasis on selling.

Correct Answer
verified

Psychographic segmentation involves dividing a market into segments based on lifestyle,values,attitudes,or interests.

Correct Answer
verified

Test marketing involves developing an accurate description of the product and asking people if the proposed product appeals to them.

Correct Answer
verified

The marketing concept was used heavily by business when it was first suggested in the 1950s.

Correct Answer
verified

A widely used technique commonly used for collecting primary data is:

Correct Answer
verified

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

Correct Answer
verified

In the production era the greatest marketing need was for distribution and storage.

Correct Answer
verified

Secondary data should be gathered first because this type of information is less expensive to obtain.

Correct Answer
verified

Marketing goods and services to the B2B market relies more heavily on advertising than marketing efforts aimed toward the consumer market.

Correct Answer
verified

Setting prices higher than the competition can help create an image of quality.

Correct Answer
verified

Separating a market by the amount of the product consumed is known as volume segmentation.

Correct Answer
verified

Exam 13: Marketing: Helping Buyers Buy

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.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Exploring _________ data first helps marketers minimize marketing research costs.

Correct AnswerverifiedD

Which of the following would best benefit the development of niche marketing?

Correct AnswerverifiedD

When classifying a product as a consumer product or a B2B product,the primary factor to consider is the financial status of the buyer.

Correct AnswerverifiedFalse

Correct AnswerverifiedShow Answer

Mass marketing means developing products and promotions using little segmentation.

Correct AnswerverifiedShow Answer

Business-to-business markets tend to be:

Correct AnswerverifiedShow Answer

During the selling era,businesses turned from an emphasis on production to an emphasis on selling.

Correct AnswerverifiedShow Answer

Psychographic segmentation involves dividing a market into segments based on lifestyle,values,attitudes,or interests.

Correct AnswerverifiedShow Answer

Test marketing involves developing an accurate description of the product and asking people if the proposed product appeals to them.

Correct AnswerverifiedShow Answer

The marketing concept was used heavily by business when it was first suggested in the 1950s.

Correct AnswerverifiedShow Answer

A widely used technique commonly used for collecting primary data is:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the production era the greatest marketing need was for distribution and storage.

Correct AnswerverifiedShow Answer

Secondary data should be gathered first because this type of information is less expensive to obtain.

Correct AnswerverifiedShow Answer

Marketing goods and services to the B2B market relies more heavily on advertising than marketing efforts aimed toward the consumer market.

Correct AnswerverifiedShow Answer

Setting prices higher than the competition can help create an image of quality.

Correct AnswerverifiedShow Answer

Separating a market by the amount of the product consumed is known as volume segmentation.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
D

Correct Answer
verified
D

Correct Answer
verified
False

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified