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Exam 13: Marketing: Helping Buyers Buy

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Question 61

Multiple Choice

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As part of her responsibilities as a marketing manager,Jan has completed a review of data her department has gathered through telephone interviews,mail surveys and focus groups.Jan is disappointed because the research results strongly suggest that a product idea she helped develop is unlikely to be popular with potential customers.Jan should:

A) proceed with product development because the opinions of experienced marketing managers often turn out to be more accurate than marketing research.
B) accept the research results and reevaluate the proposed product.
C) continue developing the product,but try to find ways to reduce production costs.
D) put the product on temporary hold,throw out the results of the research,and design and conduct a new study.

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

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Question 62

Multiple Choice

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

A) Ps.
B) Keynotes to success.
C) Intangibles of marketing.
D) Persuaders.

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

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Question 63

True/False

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

In general,the broader the market a firm tries to serve,the better its chances of success.

The marketing efforts at Rotary Enterprises place a great deal of emphasis on marketing goods that will earn the firm a profit.This focus on profit orientation shows that Rotary's has not yet adopted the marketing concept that emphasizes a customer orientation rather than a profit orientation.

The purpose of market segmentation is to identify the features of a product that will appeal to as many customers as possible.

Marketing research helps determine what customers have purchased in the past,what situational changes have occurred to change consumer preferences,and what consumers are likely to want in the future.

__________ consists of all the techniques sellers use to persuade consumers to buy their goods and services.

The factor that determines whether a product is classified as a consumer product or an industrial product is:

Roosevelt Community College has experienced declining enrollment for the past three years.In the past the college has relied strictly on enrollment from newly graduated high school students.In order to identify other potential markets,Roosevelt Community College would benefit from:

The B2B market involves fewer trades and fewer dollars spent than the consumer market because there are so many more consumers than there are businesses.

Marketers are concerned with selling goods and services,and therefore are not involved in designing the products their firm will sell.

Why is market segmentation important? Describe three ways firms can segment consumer markets.

A cup of yogurt is an example of a product that is always classified as a consumer good.

"Selling to everybody and listening to nobody" might be the result of a firm that uses a ________ marketing strategy.

Green-Living Lawn care Systems,Inc. ,has enjoyed great profits for 15 years.When new product development made it feasible for underground sprinkling systems to be installed at a reasonable price,the business skyrocketed.Recently,through ________________ the owner of Green-Living learned about a grass seed that only needs to be watered two times each year.This innovation could have serious consequences on healthy revenues and profits.The owner is analyzing the _________ environment in order to remain knowledgeable about new trends that may affect his business.

During the ________ era,the prevalent business philosophy turned from an emphasis on production to an emphasis on advertising and selling.

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

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

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