Question 1

Market segmentation is the process of dividing a total market into several relatively homogeneous groups.

Accepted Answer

A) True 
 B)False

Question 2

The first element of a marketing strategy is to identify a target market.

Accepted Answer

A) True 
 B)False

Question 3

Complete the following using the terms listed.
-A campaign to promote a political candidate is an example of _____.

Accepted Answer

A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding 
A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding

Question 4

Luke works as a marketing researcher and goes online to obtain information from government publications for census data and demographics.What type of data is Luke researching?

Accepted Answer

A) Internal data 
B) Peripheral data 
C) Secondary data 
D) Primary data 
A) Internal data 
B) Peripheral data 
C) Secondary data 
D) Primary data

Question 5

Complete the following using the terms listed.
-_____ attempts to isolate the traits that distinguish a certain group of customers from the overall market.

Accepted Answer

A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding 
A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding

Question 6

Hershey has teamed up with Betty Crocker to introduce a new line of co-branded desserts,including cookies,cupcakes,and frostings.This is an example of _____.

Accepted Answer

A) a comarketed product 
B) supplier-producer cooperation 
C) a marketing mix 
D) a cobranded product 
A) a comarketed product 
B) supplier-producer cooperation 
C) a marketing mix 
D) a cobranded product

Question 7

Complete the following using the terms listed.
-Business decision makers can use market research to obtain data about a potential _____ in order to design effective marketing mixes.

Accepted Answer

A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding 
A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding

Question 8

Discuss the evolution of the marketing concept through the marketing history eras.

Accepted Answer

For centuries,organizations of the produ

Question 9

Business buyers face a variety of organizational influences in addition to their own preferences.

Accepted Answer

A) True 
 B)False

Question 10

Interpersonal determinants of consumer behavior include all of the following EXCEPT _____ influences.

Accepted Answer

A) motivational 
B) cultural 
C) social 
D) family 
A) motivational 
B) cultural 
C) social 
D) family

Question 11

A convenience store offers _____ utility by being open 24 hours each day.

Accepted Answer

A) place 
B) form 
C) time 
D) ownership 
A) place 
B) form 
C) time 
D) ownership

Question 12

Which of the following is NOT consistent with relationship marketing?

Accepted Answer

A) Focusing on attaining new customers,even at the expense of losing long-term ones 
B) Developing partnerships with suppliers 
C) Developing partnerships with customers 
D) Supporting other businesses whose support is beneficial to the company's goals 
A) Focusing on attaining new customers,even at the expense of losing long-term ones 
B) Developing partnerships with suppliers 
C) Developing partnerships with customers 
D) Supporting other businesses whose support is beneficial to the company's goals

Question 13

Place utility is created _____.

Accepted Answer

A) when arrangements for the transfer of title from seller to buyer are made 
B) when the product is made available to the consumer at a time the consumer wants to buy it 
C) by having the good or service available at a convenient location when the consumer wants to buy it 
D) when the business firm converts raw materials into finished products 
A) when arrangements for the transfer of title from seller to buyer are made 
B) when the product is made available to the consumer at a time the consumer wants to buy it 
C) by having the good or service available at a convenient location when the consumer wants to buy it 
D) when the business firm converts raw materials into finished products

Question 14

A company's financial records are a source of _____ and _____ data for marketing researchers.

Accepted Answer

A) internal;primary 
B) external;primary 
C) external;secondary 
D) internal;secondary 
A) internal;primary 
B) external;primary 
C) external;secondary 
D) internal;secondary

Question 15

_____ utility is created when the business firm converts raw materials into finished goods and services.

Accepted Answer

A) Form 
B) Ownership 
C) Exchange 
D) Place 
A) Form 
B) Ownership 
C) Exchange 
D) Place

Question 16

Complete the following using the terms listed.
-The use of computer-based technology to evaluate data in a database and identify useful trends is known as _____.

Accepted Answer

A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding 
A) secondary data 
B) affinity program 
C) Market segmentation 
D) demographic 
E) target market
F)End-use segmentation
G)marketing mix
H)data mining
I)Consumer behavior
J)Ownership utility
K)Exchange processes
L)Business products
M)person marketing
N)Mass customization
O)frequency marketing
P)Comarketing
Q)cobranding

Question 17

The information collected in massive amounts and at unprecedented speed from both traditional and digital sources to be used in business decision making is called _____.

Accepted Answer

A) market research 
B) primary data 
C) big data 
D) business intelligence 
A) market research 
B) primary data 
C) big data 
D) business intelligence

Question 18

Approximately how much more does it cost to attract one new customer than to keep an existing one?

Accepted Answer

A) Five times as much 
B) Three times as much 
C) Twice as much 
D) About the same 
A) Five times as much 
B) Three times as much 
C) Twice as much 
D) About the same

Question 19

Relay for Life raises money for the American Cancer Society for cancer research and treatment.This is an example of _____ marketing.

Accepted Answer

A) idea 
B) place 
C) organization 
D) service 
A) idea 
B) place 
C) organization 
D) service

Question 20

The marketing concept refers to a company-wide customer orientation with the objective of achieving long-term success.

Accepted Answer

A) True 
 B)False

Market segmentation is the process of dividing a total market into several relatively homogeneous groups.

The first element of a marketing strategy is to identify a target market.

Complete the following using the terms listed. -A campaign to promote a political candidate is an example of _____.

Luke works as a marketing researcher and goes online to obtain information from government publications for census data and demographics.What type of data is Luke researching?

Complete the following using the terms listed. -_____ attempts to isolate the traits that distinguish a certain group of customers from the overall market.

Hershey has teamed up with Betty Crocker to introduce a new line of co-branded desserts,including cookies,cupcakes,and frostings.This is an example of _____.

Complete the following using the terms listed. -Business decision makers can use market research to obtain data about a potential _____ in order to design effective marketing mixes.

Discuss the evolution of the marketing concept through the marketing history eras.

Business buyers face a variety of organizational influences in addition to their own preferences.

Interpersonal determinants of consumer behavior include all of the following EXCEPT _____ influences.

A convenience store offers _____ utility by being open 24 hours each day.

Which of the following is NOT consistent with relationship marketing?

Place utility is created _____.

A company's financial records are a source of _ and _ data for marketing researchers.

_____ utility is created when the business firm converts raw materials into finished goods and services.

Complete the following using the terms listed. -The use of computer-based technology to evaluate data in a database and identify useful trends is known as _____.

The information collected in massive amounts and at unprecedented speed from both traditional and digital sources to be used in business decision making is called _____.

Approximately how much more does it cost to attract one new customer than to keep an existing one?

Relay for Life raises money for the American Cancer Society for cancer research and treatment.This is an example of _____ marketing.

The marketing concept refers to a company-wide customer orientation with the objective of achieving long-term success.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Todays Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management,leadership,and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, teamwork, and Communication

Production and Operations Management

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Trends in E-Commerce

Filters

Exam 11: Customer-Driven Marketing

Market segmentation is the process of dividing a total market into several relatively homogeneous groups.

The first element of a marketing strategy is to identify a target market.

Complete the following using the terms listed. -A campaign to promote a political candidate is an example of _____.

Luke works as a marketing researcher and goes online to obtain information from government publications for census data and demographics.What type of data is Luke researching?

Complete the following using the terms listed. -_____ attempts to isolate the traits that distinguish a certain group of customers from the overall market.

Hershey has teamed up with Betty Crocker to introduce a new line of co-branded desserts,including cookies,cupcakes,and frostings.This is an example of _____.

Complete the following using the terms listed. -Business decision makers can use market research to obtain data about a potential _____ in order to design effective marketing mixes.

Discuss the evolution of the marketing concept through the marketing history eras.

Business buyers face a variety of organizational influences in addition to their own preferences.

Interpersonal determinants of consumer behavior include all of the following EXCEPT _____ influences.

A convenience store offers _____ utility by being open 24 hours each day.

Which of the following is NOT consistent with relationship marketing?

Place utility is created _____.

A company's financial records are a source of _____ and _____ data for marketing researchers.

_____ utility is created when the business firm converts raw materials into finished goods and services.

Complete the following using the terms listed. -The use of computer-based technology to evaluate data in a database and identify useful trends is known as _____.

The information collected in massive amounts and at unprecedented speed from both traditional and digital sources to be used in business decision making is called _____.

Approximately how much more does it cost to attract one new customer than to keep an existing one?

Relay for Life raises money for the American Cancer Society for cancer research and treatment.This is an example of _____ marketing.

The marketing concept refers to a company-wide customer orientation with the objective of achieving long-term success.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Todays Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management,leadership,and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, teamwork, and Communication

Production and Operations Management

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Trends in E-Commerce

Filters

A company's financial records are a source of _ and _ data for marketing researchers.