Business Organizations & Management Chapter 13 – Flashcards
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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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Which of the following is most consistent with a relationship marketing strategy?
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Development of a website that seeks customer feedback and allows customers to communicate with each other
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Successful marketing researchers:
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listen to customers and other stakeholders.
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The Bay Street Bakery has a respected following. When it moved the business to a famous resort area, it took a big risk; however, the owners were confident that its unique cookies and pastries would win customer raves. Fortunately, one of the members of the family business was convinced the bakery needed to stay in touch with its customers. While visiting the bakery, the business collected names and addresses in order to send messages about promotions and coupons to valued customers. Marketing professionals refer to this strategy as:
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customer relationship management.
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Kelly buys only high-priced jeans and expensive sport shoes endorsed by her favorite entertainers. Also, her attitudes and values are shaped by specific statements made by these celebrities. She also supports causes and charities the celebrities endorse. This illustrates how consumer decision making is influenced by:
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a reference group.
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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?
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Marketing offers business students a wide array of career options.
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The two major types of markets are the:
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consumer market and the business-to-business market.
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Which of the following correctly identifies the motivation of firms using a market segmentation strategy?
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With limited resources, firms can better satisfy the wants and needs of a smaller target market.
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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:
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accept the research results and reevaluate the proposed product.
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__________ marketers include manufacturers, intermediaries, institutions, and the government.
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B2B
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A firm that uses __________ segmentation divides a market into groups based on values, attitudes, or interests.
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Psychographic
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The most important technological change likely to affect the marketing success of many firms is the:
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growth of consumer databases, blogs, and social networking.
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A firm that uses ___________ segmentation divides a market into groups based on age, income, or level of education.
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demographic
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Which of the following statements is most consistent with today's views on effective marketing?
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"Learn about your customers and exceed their expectations."
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In an effort to increase profits, Yen Ching Chinese restaurant is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet. These efforts, designed to identify specific groups that can be profitably served, represent an example of:
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target 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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Contacting customers after a sale to reassure them that they made the right decision is intended to offset:
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cognitive dissonance.
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The last step in the marketing process often includes:
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building relationships with customers.
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Roberto 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. Roberto is confident that these factors will impact Friendly's future marketing success. His efforts are an example of:
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environmental scanning.
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Understanding consumers in marketing is considered so important that a whole area of marketing called _____________________ emerged.
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consumer behavior
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H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market. Although consumer response was positive to the idea of the new product, management wants to find out more before committing to full-scale production. The next step H2 O'Yeah's marketing department is likely to take is to:
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test market the product among potential users.
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Which of the following describes individuals that want goods and services for personal consumption and have the resources to buy them?
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consumer market
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The number of buyers in business-to-business markets is:
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relatively small compared to the consumer market.
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A firm's marketing mix refers to the combination of:
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strategies regarding product, price, place, and promotion.
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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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________ is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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Marketing
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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.
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culture
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Which of the following tasks would be included in the marketing mix?
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Evaluating various distribution alternatives to determine the best way to get the product to the consumer
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The significant increase in consumer demand following World War II marked the beginning of the:
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marketing concept era.
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Consumer decisions regarding the products they buy are often influenced by their nationality, religion, or ethnic origin. Marketers realize that the consumer decision-making process is impacted by the consumers':
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subcultures.
