question

A target market is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas.

answer

False

question

The forces in the marketing environment are totally uncontrollable.

answer

False

question

Richard has acquired a supply of canned fruits and vegetables. He does not yet have a buyer for them but he's using promotion and other activities to find a buyer. He is performing the marketing function of

answer

selling.

question

Marketing creates value by

answer

helping people obtain what they need and want.

question

Social networks have existed in one form or another for over _______ years.

answer

40

question

During the Industrial Revolution, new technologies fueled strong __________________ for products and a product orientation held sway.

answer

demand

question

Trying to determine buyers' needs and wants is easy because marketers fully understand what motivates people to buy things.

answer

False

question

The ability of a business to identify customers before they make a purchase is ________.

answer

addressability

question

Inventory handling, transportation, and warehousing are all examples of activities of

answer

physical distribution.

question

Digital marketing can enhance the value of products.

answer

True

question

High-quality items such as musical instruments, sailboats, and airplanes would probably use what distribution coverage?

answer

Exclusive

question

Magazines located next to the checkout counter at a grocery store would probably be classified as

answer

convenience products.

question

_______________ allows customers to express their needs and wants directly to the firm in response to its communications.

answer

Interactivity

question

An estimated _____% of illegal software sharing is conducted by businesses.

answer

90

question

When a company uses advertising and sales promotion to inform consumers about a product so they will ask retailers to stock it, which strategy is being used?

answer

Pull strategy

question

Innovations in digital media have changed how marketers do their jobs in all of the following ways except

answer

slowed down the speed at which they can work.

question

When a computer company initially charged a low price for a new computer and then raised the price after gaining a large market share, it was using which pricing strategy?

answer

Penetration

question

Which of the following is not a difference between digital media and traditional media?

answer

Digital media make communications more confusing.

question

Google is challenging established companies in all but one of the following industries

answer

grocery stores.

question

Retailers generally buy from producers or from other wholesalers and sell to other retailers but not ultimate consumers.

answer

False

question

The characteristic of addressability means digital communication allows consumers to find information about competing products, prices, and reviews and become more informed about a firm and the relative value of its products.

answer

False

question

A marketing research representative who interviews shoppers in a mall is collecting the following type of information

answer

primary data.

question

Why is investment trading less expensive online?

answer

Because investors can buy and sell investments themselves without hiring a trader.

question

The type of transportation specifically noted for its flexibility in transporting products is

answer

trucking.

question

The financial value placed on an object involved in an exchange is

answer

the price.

question

Which of the following requires organizations to gather information about customer needs, share that information throughout the entire firm, and use that information to help build long-term relationships with customers?

answer

Market orientation

question

If a nationwide sandwich shop company introduces a new sandwich in the Midwest to try out its marketing strategy before offering the product across the country, it is using

answer

test marketing.

question

Digital media can reduce the cost of _______ and _________ transactions.

answer

customer, business

question

If a company's goal is to develop an image of having very high-quality luxury products, it should employ a

answer

prestige pricing strategy.

question

If a company is studying the decision processes and actions of people who purchase and use products, the company is focusing on

answer

buying behavior.

question

Which of the promotion mix variables is best for promoting expensive products with specialized uses, such as houses?

answer

Personal selling

question

An estimated 90% of illegal software sharing is done by businesses.

answer

True

question

Maximizing profits and sales, boosting market share, maintaining the status quo, and survival are common pricing objectives.

answer

True

question

When a grocery store maintains refrigerators to hold ice cream until customers buy it, the store is engaged in the marketing function of

answer

storing.

question

According to the Javelin Strategy and Research 2009 Identity Fraud Survey Report, at least _____ million U.S. adults were victims of identity theft in 2009.

answer

11

question

According to your book, what is the main source of Internet identity theft?

answer

Credit card fraud

question

The marketing concept states that an organization

answer

should try to satisfy customer needs while also achieving its own goals.

question

A marketing strategy consists of

answer

selecting a target market and developing a marketing mix to satisfy it.

question

Although customer-generated videos are increasingly available, most companies still prefer to hire professional advertising firms.

answer

False

question

If a company markets to a segment of people who have a certain lifestyle, the type of segmentation being used is

answer

psychographic.

question

The financing function expedites purchases through making credit available.

answer

True

question

After the product orientation came the sales orientation of the mid-20th century. Supply exceeded demand and businesspeople and __________________ and __________________ became the most important marketing activities.

answer

advertising; selling

question

Most new product ideas are rejected during the business analysis phase.

answer

False

question

Convenience products such as bread, milk, and gum would probably be marketed

answer

intensively.

question

If an exchange is to occur, each participant must be willing to give up something of value to receive something the other has.

answer

True

question

After analyzing its own resources and unique abilities, a company is now trying to determine what group of customers it can satisfy with a good or service. It is in the process of choosing a

answer

target market.

question

Profits are negative in the growth stage.

answer

False

question

When seeking out information on a new product, consumers tend to trust _________ over _________.

answer

other consumers, corporations

question

The major variable of the marketing mix that uses marketing middlemen is

answer

distribution.

question

Advertising is direct, two-way communication with buyers and potential buyers.

answer

False

Intro To Business Chapters 11, 12, & 13 Practice – Flashcards

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