Question 1

Marco is a marketing manager for Securities Services. He has been looking at a variety of factors, such as technological, sociocultural, and economic trends as well as competitive conditions. Marco is confident that these factors will impact Securities' future marketing success. What are his efforts an example of?

Accepted Answer

A)   target marketing
B)   competitive benchmarking
C)   relationship marketing
D)   environmental scanning D

Question 2

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

Accepted Answer

A)   The same product can be classified as either a consumer good or an industrial good, depending upon its end use.
B)   Industrial goods tend to have a useful life of several years and can be depreciated while consumer goods typically last less than a year.
C)   Consumer goods are typically more expensive than industrial goods.
D)   Industrial goods are custom-made to the specifications of the buyer, while the all consumer goods are mass-produced. A

Question 3

According to the Spotlight on Small Business box, small businesses can make big money by

Accepted Answer

A)   participating in mass production.
B)   jumping on board with technological advances as they evolve.
C)   shipping products to consumers faster than competitors.
D)   opening online stores to accompany the already established brick-and-mortar shops. B

Question 4

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 5

________ marketers include manufacturers, intermediaries, institutions, and the government.

Accepted Answer

A)   Profit seeking
B)   Undifferentiated
C)   Institutional
D)   B2B

Question 6

A firm that uses ________ segmentation divides a market into groups based on values, attitudes, or interests.

Accepted Answer

A)   demographic
B)   benefit
C)   psychographic
D)   normative

Question 7

Jessica, a sophomore in college, is contemplating majoring in marketing. She has asked several friends for advice and their comments are listed below. Which of these comments is the most accurate and likely to help Jessica?

Accepted Answer

A)   Marketing offers business students a wide array of career options.
B)   Majoring in marketing rules out a meaningful career with a nonprofit organization.
C)   You should major in marketing only if you want to work in advertising or personal selling.
D)   Marketing is a career that offers stability, good pay, and ample employment opportunities. Marketing activities today are essentially the same as they were several decades ago.

Question 8

Cognitive dissonance refers to the confusion and frustration people experience when they compare different products they rarely use before making a purchase.

Accepted Answer

A) True 
 B)False

Question 9

Consumer databases, blogs, and social network sites are some of the technological factors that are used by marketers to develop goods and services.

Accepted Answer

A) True 
 B)False

Question 10

While most students find marketing an interesting and meaningful subject, one drawback of majoring in marketing is that it prepares students for only a narrow range of career options.

Accepted Answer

A) True 
 B)False

Question 11

A firm's marketing mix consists of 4 major components, which are generally referred to as the four

Accepted Answer

A)   Ps.
B)   keys to success.
C)   intangibles of marketing.
D)   persuaders.

Question 12

In the evolution of marketing, the marketing concept era emphasized selling and advertising in an effort to persuade consumers to buy existing products.

Accepted Answer

A) True 
 B)False

Question 13

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

Question 14

Marketing is a limited activity, performed when a business is first established and when it introduces a new product to the market. Once a firm has fine-tuned its marketing activities, it can turn its attention elsewhere.

Accepted Answer

A) True 
 B)False

Question 15

Marketing strategies used effectively in the business-to-business markets are exactly the same as strategies used by marketers in consumer markets.

Accepted Answer

A) True 
 B)False

Question 16

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.

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Which of the following describes a word, letter, or group of words or letters that differentiate the goods and services of a seller from those of competitors?

Accepted Answer

A)   brand name
B)   product designation
C)   prototype name
D)   generic name

Question 19

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 20

One-to-one marketing is seldom used in B2B markets.

Accepted Answer

A) True 
 B)False

Exam 13: Marketing: Helping Buyers Buy

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

According to the Spotlight on Small Business box, small businesses can make big money by

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

________ marketers include manufacturers, intermediaries, institutions, and the government.

A firm that uses ________ segmentation divides a market into groups based on values, attitudes, or interests.

Jessica, a sophomore in college, is contemplating majoring in marketing. She has asked several friends for advice and their comments are listed below. Which of these comments is the most accurate and likely to help Jessica?

Cognitive dissonance refers to the confusion and frustration people experience when they compare different products they rarely use before making a purchase.

Consumer databases, blogs, and social network sites are some of the technological factors that are used by marketers to develop goods and services.

While most students find marketing an interesting and meaningful subject, one drawback of majoring in marketing is that it prepares students for only a narrow range of career options.

A firm's marketing mix consists of 4 major components, which are generally referred to as the four

In the evolution of marketing, the marketing concept era emphasized selling and advertising in an effort to persuade consumers to buy existing products.

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

Marketing is a limited activity, performed when a business is first established and when it introduces a new product to the market. Once a firm has fine-tuned its marketing activities, it can turn its attention elsewhere.

Marketing strategies used effectively in the business-to-business markets are exactly the same as strategies used by marketers in consumer markets.

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

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 describes a word, letter, or group of words or letters that differentiate the goods and services of a seller from those of competitors?

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

One-to-one marketing is seldom used in B2B markets.