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Exam 13: Marketing: Helping Buyers Buy

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Question 41

Multiple Choice

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Which of the following is part of the marketing process?

A) developing an understanding of company finances available for new products
B) determining an appropriate brand name for a new product
C) designing the most efficient method of production of a new product
D) contacting suppliers after a purchase to ensure producer satisfaction

E) A) and B)
F) B) and D)

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Question 42

Multiple Choice

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Roberto Martinez is a marketing manager for Friendly Financial Services. He has been looking at a variety of factors, such as technological, socio-cultural and economic trends as well as competitive conditions. Martinez is confident that these factors will impact Friendly's future marketing success. His efforts are an example of:

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

E) A) and B)
F) C) and D)

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Question 43

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Bob has the responsibility for product development, pricing, promotion, and distribution of Hi Vee Vitamins for children. Bob's job - would not involve:

The idea behind customer relationship management is to enhance customer satisfaction and stimulate long-term customer loyalty.

La Shawna is fascinated by movie stars and others in the entertainment industry. She often changes her dress, speech, and mannerisms in response to the latest trends in Hollywood. When big name stars publicly support a social cause, she tends to support it as well. La Shawna's behavior suggests that people in show business are an important reference group for her.

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

The business-to-business (B2B) market involves the marketing of goods and services to institutions that sell, rent, produce or supply goods to others.

The last step in the marketing process often includes building a continuing relationship with customers.

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

The process of identifying the factors that can affect marketing success is called environmental scanning.

In the Spotlight on Small Business box, after entrepreneur Lance Fried developed a successful prototype for his waterproof MP3 player, he decided the best strategy for marketing his product was to:

In order to be successful, marketers avoid small market segments in favor of larger targets.

Comparing the business practices of the 1950s to those of today indicate that today's marketing managers:

The main concern of the marketing mix is to please firm's stockholders.

One of the social trends that marketers must monitor to maintain their close relationship with customers is the:

Business-to-business markets tend to be geographically concentrated.

The activities of marketers depend on what needs to be done to satisfy consumer wants and needs, in other words, helping the buyer buy.

Relationship marketing makes heavy use of media such as television, radio and newspapers, to convince large groups of customers to buy a standardized product.

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

Concept testing involves placing a product in a place where consumers will buy it.