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Exam 14: Marketing: Helping Buyers Buy

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Question 1

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Determining the appropriate price for a good or service is one element of the marketing mix.

A) True
B) False

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Question 2

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Eavesdrop Communications just finished a telephone survey of several of their current customers.They plan to conduct in-depth personal interviews with about twenty additional customers.Both the telephone survey and the interviews are sources of primary data for Eavesdrop.

A) True
B) False

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Environmental scanning involves the tracking of pollution generated by a firm and its impact on society.

is the setting of business practices designed to plan for and present an organization's products or services in ways that build effective customer relationships.

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

The four elements of marketing mix are product,timing,price,and efficiency.

Effective marketing research involves listening to customers,employees,shareholders,and other stakeholders.

Price is the determining factor as to whether a good is classified as a consumer good or a B2B product.

One factor that influences the consumer decision-making process is_______ ,which refers to the set of values,attitudes,and ways of doing things passed from one generation to another in a given society.

The two major types of markets are the:

Mike's Auto Repair works hard to find out what customers want and how to best meet their needs.Based on feedback from customers,Mike now provides a written estimate before any work is done,offers a more comprehensive guarantee than competitors,and calls customers after servicing their cars to make sure they are satisfied.These efforts suggest Mike is applying the concepts of customer relationship management.

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

Joan purchased new appliances for her kitchen.She is having second thoughts about whether she got the best products for the best price.What factor has influenced her decision-making process?

During the selling era,businesses turned from an emphasis on production to an emphasis on selling.

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

Given today's marketing environment,marketing managers must constantly adjust the marketing mix.

LaShawna has always been 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.LaShawna's behavior suggests that people in show business are an important reference group for her.

Andre is a real estate agent who has an idea for a software program that will help perform real estate appraisals more quickly and more accurately.He has worked with a friend who is good at programming to develop a detailed description of what the software will do and how it differs from existing applications.Now Andre has taken this description and shown it to a number of fellow real estate agents to see if his idea appeals to them.Andre is engaging in:

As the campaign manager for a candidate for the Canadian Federal Parliament,Pete works to learn as much as possible about potential voters.With this information,he hopes to focus the campaign on the issues most important to voters.This represents:

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.