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Exam 13: Marketing: Helping Buyers Buy

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Question 21

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Marketing research usually begins with secondary data because it is more accurate and more relevant than primary data.

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Question 22

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The first step in the marketing research process is to:

A) define the problem and determine the present situation.
B) collect relevant data from primary and secondary sources.
C) analyze the research data.
D) decide upon the best ethical solution.

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Question 23

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Intermediaries are firms in the middle of a series of organizations that distribute goods from producers to consumers.

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 _______.

The most important component of the marketing mix is the actual design and production of the product.

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

With careful attention to controlling costs and quality,businesses can successfully satisfy consumers with a standardized product for different markets.

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

Selecting which groups an organization can serve profitably is called target marketing.

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

Which of the following describes the marketing era immediately after the development of mass production assembly lines?

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.

According to the _________ concept,a firm must (1) find out what customers want and provide it, (2) make sure everyone in the organization has customer satisfaction as an objective,and (3) provide goods and services that will earn a profit.

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

A telephone or online survey is an example of primary data collection.

Target marketing is a business strategy that focuses a firm's marketing efforts towards a potentially profitable segment of a larger market.

Why is market segmentation important? Describe three ways firms can segment consumer markets.

A ________ marketing strategy develops products and promotions designed to please large groups of people.

Marketing involves developing and promoting a firm's products and allowing the firm's purchasing department to make all distribution and transportation decisions.

The two major types of markets are the: