Marketing Quiz Chapters 7-9 – Flashcards

Which of the following is a strategy that should be followed by a company to initiate the customer relationship management cycle? A. Leveraging customer information to all areas of a business B. Collecting detailed information about the products and services its customers are using C. Identifying its profitable and unprofitable customers D. Transforming customer data into information that can be used to make managerial decisions

In the context of the ever-changing marketplace, which of the following statements is true of marketing research? A. It helps managers to take advantage of opportunities in the market B. It results in inacurate forecast as the market place keeps changing C. It overlooks the role of word of mouth advertising in the promotion process D. It excludes the external environment that affects sales

Mass-marketing efforts are used by marketers because A. the time consumers spend on making purchase decisions has increased in recent times B. consumers have their own unique sets of needs and wants C. the importance of rewarding individual consumers for their loyalty has declined in the recent years D. of the need to create brand awareness or to remind consumers of a product

Marketing research is of little help to managers who want to improve the quality of decision making. True or False

A _____ is used to manufacture other goods or services, to facilitate an organization's operation, or to sell to other customers. A. shopping product B. business product C. consumer product D. convenience product

Items such as sheet metal, treated lumber, corn syrup, and plastics are examples of _____. A. processed materials B. MRO supplies C. raw materials D. major equipment

When making a purchase, satisfiers consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one. True or False

Which of the following is a reason why consumer goods companies take a regional approach to marketing? A. Baby boomers and seniors can be easily attracted using this approach. B. Consumer markets lack intense competition. C. Baby boomers and seniors can be easily attracted using this approach D. Companies have the opportunity to take more time to react to competition.

Which of the following is an advantage of primary data? A. Gathering primary data is less expensive than gathering secondary data. B. They answer specific research questions that secondary data cannot answer. C. Conducting in-person interviews is an expensive method of gathering primary data. D. They consist of data that are easily available to any interested party.

Federal, state, and local buying units account for the greatest volume of purchases of any consumer category in the United States. True or False

A market is people or organizations with needs or wants and with the ability and willingness to buy. True or False

A _____ is a sample in which every element in the population has a known statistical likelihood of being selected. A. convenience sample B. snowball sample C. probability sample D. judgement sample

Which of the following statements is true of business marketing? A. It has long and indirect channels of distribution. B. It refers to the sale of goods and services for the purpose of personal consumption. C. It deals with products that are used to facilitate an organization's operations. D. It sets the price and conditions of sale without chances for negotiation.

For a successful market segmentation, one marketing mix cannot be used for another market segment. True or False

A product can be sold both as a consumer good and business product. True or False

Which of the following statements is true of relationship marketing? A. For many suppliers, retaining their current customers has become a secondary focus in relationship marketing. B. Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs. C. Relationship marketing has become more important than before because competition is becoming more intense. D. Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers.

Research questions cannot be answered with primary data. True or False

_____ is a system for gathering information from respondents by continuously monitoring the advertising, promotion, and pricing they are exposed to and the things they buy. A. An online focus group B. Web community research C. Scanner-based research D. A Web survey system

_____ is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds. A. Perceptual mapping B. Product tracing C. Product differentiation D. Market Segmentation

In the context of customer relationship management, _____ offers marketers a more cost-effective way to reach customers and enables business to personalize their messages. A. repositioning B. loyalty C. new technology D. undifferentiated targeting

The customer relationship management technique that focuses on thanking customers for their business to a company exemplifies the trend of _____. A. Time savings B. Technology C. Personalization D. Loyalty

A firm using a(n) _____ essentially adopts a mass-marketing philosophy, viewing the market as one big market with no individual segments. A. Undifferentiated targeting strategy B. niche targeting strategy C. concentrated targeting strategy D. individual targeting strategy

In a buying center, the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____. A. gatekeeper B. decider C. purchaser D. initiator

_____ exists when one party has confidence in an exchange partner's reliability and integrity. A. Keiretsu B. Obeya C. Trust D. Commitment