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Exam 13: Marketing: Helping Buyers Buy

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Question 121

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

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Question 122

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Which of the following is part of the marketing process?

A) developing an understanding of company finances available for new products
B) determining an appropriate brand name for a new product
C) designing the most efficient method of production of a new product
D) contacting suppliers after a purchase to ensure producer satisfaction

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Question 123

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A test market refers to the people in a market that will be least likely to use the product or service the marketer is offering.

The purchase of a cash register is likely a B2B product.

Exploring ________ data first helps marketers minimize marketing research costs.

The set of values, attitudes, and ways of doing things that result from belonging to a certain ethnic, religious, or racial group is called that group's cognitive dissonance.

The number of buyers in B2B markets is

A cup of yogurt is an example of a product that is always classified as a consumer good.

Marketers use very detailed surveys to gather secondary data.

Which of the following marketing eras refers to the time period from our country's first settlers through the early 1900s?

The company website for SharpSmart Computers is a place for customers to get the latest information about new products, special offers, and technical support. The company has also added a chat function that allows customers to communicate with representatives immediately. SharpSmart's approach indicates that it is trying to utilize relationship marketing.

The business-to-business (B2B) market involves the marketing of goods and services to institutions that sell, rent, produce, or supply goods to others.

Which of the following is considered a step in the marketing research process?

Which of the following statements about the distinction between consumer goods and B2B goods is the most accurate?

Marketing is different in B2B markets than in consumer markets. Identify and explain three differences between the business-to-business market and the consumer market.

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?

The marketing mix provides a detailed market analysis to determine opportunities and challenges as well as information needed to make good decisions.

Which of the following tasks would be included in the marketing mix?

Outdoor Adventure, a company that designs and manufactures sportswear, focuses their marketing efforts on people who participate in strenuous outdoor activities such as running, hiking, and climbing. For example, the firm advertises heavily in Runner's World and Women's Running. Outdoor Adventure is using ________ factors to segment its market.

The consumer market consists of all the individuals or organizations that want goods and services in order to produce other goods and services to sell, rent, or supply to others.