Chapter 13 quiz questions – Flashcards
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__________ marketing is the marketing of products to groups of customers a firm decides it can serve profitably.
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Target
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The __________ market consists of individuals and organizations that want goods and services in order to produce goods and services or to sell, rent, or supply those goods to others.
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B2B
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Which of the following refers to the process of dividing the total market into several groups with similar characteristics?
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Market segmentation
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The goal of __________ is to keep individual customers over time by offering them new products that exactly meet their requirements.
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relationship marketing
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The first step in the marketing research process is to:
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define the problem and determine the present situation.
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Which of the following represents a technique used to obtain primary data?
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conducting personal interviews with potential customers
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___________ is a process used to test consumer reactions about a product among potential users.
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Test marketing
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Which of the following refers to a marketing strategy in which the focus is on small but profitable market segments?
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niche marketing
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A ________ group consists of a small group of people who meet under the direction of a discussion leader to discuss opinions about an organization, its products, or other issues.
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focus
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Which of the following terms involves the analysis of markets to identify opportunities and challenges?
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marketing research
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Which of the following statements about the B2B market is true?
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Industrial buyers are usually large.
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A key element of customer relationship management is to:
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learn as much as possible about customers.
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Which of the following is part of the marketing process?
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determining an appropriate brand name for a new product
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Firms that adopt a relationship marketing strategy attempt to:
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develop products that meet the specific requirements of individual customers
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Compared to consumer markets, B2B markets:
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rely less on marketing intermediaries.
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In the Spotlight on Small Business box titled, "Let's Go to the Movies," we learned about a recent marketing idea for movie theatres. As a student of marketing, you understand that the purpose of creating a unique movie experience such as "dinner and a movie" is:
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To differentiate your movie theatre from others.
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Which of the following is the best example of a market?
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senior citizens willing and able to cruise to the Bahamas
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Nature's Sun, a company that designs and manufactures clothing for active people, focuses their marketing efforts on people who participate in strenuous outdoor activities such as running and mountain climbing. For example, the firm advertises heavily in magazines for runners. Nature's Sun is using _________ factors to segment its market.
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psychographic
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Mucho Tacos Restaurants, Inc. is a chain of restaurants featuring authentic Mexican cuisine in seven states. The company is looking into opening restaurants in additional markets and also wants to expand and to improve its menu. Which of the following is an example of secondary data the owners of Mucho Tacos might find useful?
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information published by the U.S. Bureau of the Census that identifies which regions of the United States are experiencing the most rapid growth in Mexican-American population
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Marketers have learned that customers' perceptions about how a business acts can be very important. As the Thinking Green box suggests,
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Customers are willing to pay a little extra, and purchase goods and services from companies who are attentive toward reducing their carbon footprint.
