Intro To Business Chapters 11, 12, & 13 Practice

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.
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False
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The forces in the marketing environment are totally uncontrollable.
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False
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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
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selling.
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Marketing creates value by
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helping people obtain what they need and want.
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Social networks have existed in one form or another for over _______ years.
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40
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During the Industrial Revolution, new technologies fueled strong __________________ for products and a product orientation held sway.
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demand
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Trying to determine buyers’ needs and wants is easy because marketers fully understand what motivates people to buy things.
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False
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The ability of a business to identify customers before they make a purchase is ________.
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addressability
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Inventory handling, transportation, and warehousing are all examples of activities of
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physical distribution.
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Digital marketing can enhance the value of products.
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True
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High-quality items such as musical instruments, sailboats, and airplanes would probably use what distribution coverage?
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Exclusive
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Magazines located next to the checkout counter at a grocery store would probably be classified as
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convenience products.
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_______________ allows customers to express their needs and wants directly to the firm in response to its communications.
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Interactivity
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An estimated _____% of illegal software sharing is conducted by businesses.
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90
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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?
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Pull strategy
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Innovations in digital media have changed how marketers do their jobs in all of the following ways except
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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?
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Penetration
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Which of the following is not a difference between digital media and traditional media?
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Digital media make communications more confusing.
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Google is challenging established companies in all but one of the following industries
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grocery stores.
question

Retailers generally buy from producers or from other wholesalers and sell to other retailers but not ultimate consumers.
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False
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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.
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False
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A marketing research representative who interviews shoppers in a mall is collecting the following type of information
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primary data.
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Why is investment trading less expensive online?
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Because investors can buy and sell investments themselves without hiring a trader.
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The type of transportation specifically noted for its flexibility in transporting products is
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trucking.
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The financial value placed on an object involved in an exchange is
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the price.
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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?
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Market orientation
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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
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test marketing.
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Digital media can reduce the cost of _______ and _________ transactions.
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customer, business
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If a company’s goal is to develop an image of having very high-quality luxury products, it should employ a
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prestige pricing strategy.
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If a company is studying the decision processes and actions of people who purchase and use products, the company is focusing on
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buying behavior.
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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.
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True
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Maximizing profits and sales, boosting market share, maintaining the status quo, and survival are common pricing objectives.
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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
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storing.
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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
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According to your book, what is the main source of Internet identity theft?
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Credit card fraud
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The marketing concept states that an organization
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should try to satisfy customer needs while also achieving its own goals.
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A marketing strategy consists of
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selecting a target market and developing a marketing mix to satisfy it.
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Although customer-generated videos are increasingly available, most companies still prefer to hire professional advertising firms.
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False
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If a company markets to a segment of people who have a certain lifestyle, the type of segmentation being used is
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psychographic.
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The financing function expedites purchases through making credit available.
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True
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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.
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advertising; selling
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Most new product ideas are rejected during the business analysis phase.
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False
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Convenience products such as bread, milk, and gum would probably be marketed
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intensively.
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If an exchange is to occur, each participant must be willing to give up something of value to receive something the other has.
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True
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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
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target market.
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Profits are negative in the growth stage.
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False
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When seeking out information on a new product, consumers tend to trust _________ over _________.
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other consumers, corporations
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The major variable of the marketing mix that uses marketing middlemen is
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distribution.
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Advertising is direct, two-way communication with buyers and potential buyers.
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False

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