Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

Mobile apps, like Rewards4You, engage users by combining the most basic elements of social media. These apps are a great benefit to both customers and businesses. Customers get a special deal while businesses are able to get their names out to the friends of users. This is an effective form of promotion.

Accepted Answer

A) True 
 B)False

Question 3

The Fairness Foundation is a nonprofit organization that helps underprivileged children. As a nonprofit organization, it does not perform marketing functions, since these functions are designed to help organizations earn a profit.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Buyers in the B2B market tend to make more rational decisions than buyers in the consumer market.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is the best example of cognitive dissonance?

Accepted Answer

A)  Phillip has been shopping for a new flat screen, but has not yet made a purchase because he is having trouble deciding which brand to buy. 
B)  Lorelai decided to eat at a restaurant she previously avoided after learning several celebrities endorse the restaurant. 
C)  Braylon is torn between going to the movies with friends or staying home and studying for an exam tomorrow. 
D)  Drake just bought an expensive tablet and is already worried that he could have found a better deal if he had shopped more carefully. 
A)  Phillip has been shopping for a new flat screen, but has not yet made a purchase because he is having trouble deciding which brand to buy. 
B)  Lorelai decided to eat at a restaurant she previously avoided after learning several celebrities endorse the restaurant. 
C)  Braylon is torn between going to the movies with friends or staying home and studying for an exam tomorrow. 
D)  Drake just bought an expensive tablet and is already worried that he could have found a better deal if he had shopped more carefully.

Question 8

Which of the following statements about Briana's marketing approach is most accurate?

Accepted Answer

A)  Briana is basing her marketing approach on a variation of the mass marketing strategy. 
B)  Briana's marketing strategy appears to be consistent with several key aspects of relationship marketing. 
C)  Many recent studies suggest that Briana will be unable to earn a reasonable profit because she is serving too small a segment of the market rather than the entire market. 
D)  Briana's marketing efforts put too much emphasis on retaining existing customers and not enough on obtaining new customers. 
A)  Briana is basing her marketing approach on a variation of the mass marketing strategy. 
B)  Briana's marketing strategy appears to be consistent with several key aspects of relationship marketing. 
C)  Many recent studies suggest that Briana will be unable to earn a reasonable profit because she is serving too small a segment of the market rather than the entire market. 
D)  Briana's marketing efforts put too much emphasis on retaining existing customers and not enough on obtaining new customers.

Question 9

The fact that ShapeUP is designed to appeal to women of a certain age, education, and income level means that Briana is using

Accepted Answer

A)  demographic segmentation. 
B)  psychographic segmentation. 
C)  volume segmentation. 
D)  geographic segmentation. 
A)  demographic segmentation. 
B)  psychographic segmentation. 
C)  volume segmentation. 
D)  geographic segmentation.

Question 10

Which of the following statements is most consistent with today's views on effective marketing?

Accepted Answer

A)  "There's a sucker born every minute." 
B)  "Find out what your competition does and do it better." 
C)  "A good promotional campaign can sell anything." 
D)  "Learn about your customers and exceed their expectations." 
A)  "There's a sucker born every minute." 
B)  "Find out what your competition does and do it better." 
C)  "A good promotional campaign can sell anything." 
D)  "Learn about your customers and exceed their expectations."

Question 11

Using advances in technology to maintain databases of customer information is more important for firms involved in mass marketing than it is for those firms using relationship marketing.

Accepted Answer

A) True 
 B)False

Question 12

A firm that uses ________ segmentation divides a market into groups based on age, income, or level of education.

Accepted Answer

A)  demographic 
B)  psychographic 
C)  perceived value 
D)  econometric 
A)  demographic 
B)  psychographic 
C)  perceived value 
D)  econometric

Question 13

Travel agencies demonstrate a one-to-one marketing strategy when they develop unique vacation packages for individual customers.

Accepted Answer

A) True 
 B)False

Question 14

Because the marketing concept emphasizes a profit orientation, marketing has not been used successfully by nonprofit organizations.

Accepted Answer

A) True 
 B)False

Question 15

Relationship marketing depends on understanding individual consumers and responding quickly to their wants and needs.

Accepted Answer

A) True 
 B)False

Question 16

When Briana attempts to identify economic, social, and competitive factors that could affect her success in the fitness market, she is engaging in

Accepted Answer

A)  positioning analysis. 
B)  concept testing. 
C)  target marketing. 
D)  environmental scanning. 
A)  positioning analysis. 
B)  concept testing. 
C)  target marketing. 
D)  environmental scanning.

Question 17

The marketing process includes decisions about the best way to get the product to the consumer.

Accepted Answer

A) True 
 B)False

Question 18

Whenever available, marketers should rely exclusively on primary data because it is much more accurate than secondary data.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Demographic segmentation divides a market into segments based on the customer's location.

Accepted Answer

A) True 
 B)False

Exam 13: Marketing: Helping Buyers Buy

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

The Fairness Foundation is a nonprofit organization that helps underprivileged children. As a nonprofit organization, it does not perform marketing functions, since these functions are designed to help organizations earn a profit.

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

Buyers in the B2B market tend to make more rational decisions than buyers in the consumer market.

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

Which of the following is the best example of cognitive dissonance?

Which of the following statements about Briana's marketing approach is most accurate?

The fact that ShapeUP is designed to appeal to women of a certain age, education, and income level means that Briana is using

Which of the following statements is most consistent with today's views on effective marketing?

Using advances in technology to maintain databases of customer information is more important for firms involved in mass marketing than it is for those firms using relationship marketing.

A firm that uses ________ segmentation divides a market into groups based on age, income, or level of education.

Travel agencies demonstrate a one-to-one marketing strategy when they develop unique vacation packages for individual customers.

Because the marketing concept emphasizes a profit orientation, marketing has not been used successfully by nonprofit organizations.

Relationship marketing depends on understanding individual consumers and responding quickly to their wants and needs.

When Briana attempts to identify economic, social, and competitive factors that could affect her success in the fitness market, she is engaging in

The marketing process includes decisions about the best way to get the product to the consumer.

Whenever available, marketers should rely exclusively on primary data because it is much more accurate than secondary data.

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

Demographic segmentation divides a market into segments based on the customer's location.

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Management and Leadership

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Employeemanagement Issues

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money, Financial Institutions, and the Federal Reserve

Appendix: Working Within the Legal Environment

Appendix: Using Technology to Manage Information

Appendix: Managing Risk

Appendix: Managing Personal Finances

Filters