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Exam 13: Marketing: Helping Buyers Buy

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Question 101

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Providing people with a description of a potential new good or service and asking if the idea appeals to them are key parts of the marketing process.

A) True
B) False

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Question 102

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Because accurate and timely market information is vital to a firm's success, businesses should budget whatever it takes to get the best data available.

A) True
B) False

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Question 103

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

Which of the following terms involves the analysis of markets to identify opportunities and challenges?

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

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.

Holly is a sophomore in college considering a degree 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 Holly?

With help from the marketing department, engineers at Easy Electronics have designed a new type of cable modem that is easier to install in computers and more reliable than any cable modems currently in use. The marketing managers want to find a way to identify the new modem in the minds of consumers and differentiate it from less sophisticated products made by Easy's competitors. An important part of this effort is likely to be the selection of a for the new modem.

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

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

Which of the following represents a technique used to obtain primary data?

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 number of buyers in business-to-business markets is:

Mass marketing means developing products and promotions using little segmentation.

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.

After years of selling in the consumer market, Dave accepted a job as a salesperson for a firm that markets its products in the B2B market. As he considers his new responsibilities, it's likely that he will:

In terms of the number and dollar volume of transactions, the B2B market is the consumer market.

Relationship marketing moves away from mass production and toward custom-made goods and services.

While the four Ps help us remember the basics components of the , they don't have significant relevance in the marketing process.

Sales representatives at the HomeWork Helper Appliances Store work hard to develop a close relationship with their customers and to provide satisfaction even after the sale. These efforts by HomeWork Helper's sales personnel are part of the marketing process.