Question 1

A customer's subjective assessment of benefits relative to costs in determining the worth of a product is known as _____.

Accepted Answer

A)  risk
B)  value
C)  cost
D)  price
E)  profitF) C) and E)
G) A) and E)

Question 2

Why does marketing require creativity and consumer focus?

Accepted Answer

A)  Because change in environmental forces is a slow process
B)  Because environmental forces cannot be controlled under any circumstance
C)  Because environmental forces can change dramatically
D)  Because marketing managers can influence some environmental variables
E)  Because environmental forces remain constantF) A) and C)
G) A) and B)

Question 3

Which of the following is a psychological variable of buying behavior?

Accepted Answer

A)  Social roles
B)  Attitude
C)  Reference groups
D)  Social classes
E)  CultureF) C) and D)
G) A) and E)

Question 4

If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education,which of the following segmentation variables is the company using?

Accepted Answer

A)  Behavioristic
B)  Demographic
C)  Psychographic
D)  Geographic
E)  EthnographicF) C) and D)
G) B) and E)

Question 5

Why does the total-market approach work best for sellers of salt and sugar?

Accepted Answer

A)  Prices of these products keep fluctuating.
B)  These products are catered mostly to women.
C)  Customer bases for these products are concentrated around specific areas.
D)  These items offer more value.
E)  Everyone is a potential consumer of these products.F) A) and B)
G) A) and C)

Question 6

_____ is the chance of loss associated with marketing decisions.

Accepted Answer

A)  Value
B)  Utility
C)  Liability
D)  Risk
E)  CostF) C) and E)
G) A) and B)

Question 7

_____ segmentation is done on the basis of age,sex,race,ethnicity,income,education,occupation,family size,religion,social class.

Accepted Answer

A)  Psychographic
B)  Demographic
C)  Behavioristic
D)  Geographic
E)  ClassF) A) and C)
G) C) and D)

Question 8

By paying the cashier at a spa for services,a customer engages in the process of:

Accepted Answer

A)  barter.
B)  monopoly.
C)  price fixing.
D)  marketing.
E)  exchange.F) B) and E)
G) B) and C)

Question 9

Which of the following is a condition required for an exchange to take place?

Accepted Answer

A)  Each participant must hold on to his or her respective "something of value."
B)  Buyers and sellers must be able to communicate about the "something of value" available to each.
C)  The items of value offered by the buyers and sellers must be tangible in nature,such as money and cars.
D)  Products on offer should be standardized by sellers.
E)  Marketers should conduct research to ascertain the need for new goods and services.F) C) and D)
G) B) and E)

Question 10

Which of the following is a social variable of buying behavior?

Accepted Answer

A)  Perception
B)  Motivation
C)  Attitude
D)  Personality
E)  CultureF) D) and E)
G) B) and D)

Question 11

Global Mart Inc.,a multinational chain of supermarkets,wants to open a new store in a country called Alheroni.Before launching itself in the new market,the management of Global Mart Inc.wants to collect primary data about Alheroni's market.Which of the following sources of information will it most likely use?

Accepted Answer

A)  The information collected by the census bureau of Alheroni
B)  The data collected by government agencies in Alheroni
C)  The data collected from anonymous surveys conducted in malls in Alheroni
D)  Its own internal records and reports on operations in Alheroni
E)  Information about Alheroni from the databases of marketing research firmsF) C) and E)
G) A) and C)

Question 12

During the period of _____ orientation,the supply of manufactured goods caught up with and then exceeded demand,which made businesspeople believe that extensive promotion was the only way to persuade customers to buy their products.

Accepted Answer

A)  production
B)  trade
C)  sales
D)  market
E)  demandF) B) and E)
G) A) and E)

Question 13

Prism Phones wants to target college students and young professionals.The company has therefore decided to advertise its cell phones over social networking and other popular websites.Relative to television advertising,this strategy will help Prism Phones save costs and thus allow the firm to sell its phones at more competitive prices.Prism Phones' decision to advertise through different media than the ones adopted by other firms illustrates the _____ activities of the marketing mix.

Accepted Answer

A)  price
B)  distribution
C)  promotion
D)  product
E)  profitF) C) and D)
G) All of the above

Question 14

The groups with whom buyers identify and whose values or attitudes they adopt are referred to as:

Accepted Answer

A)  ethnic groups.
B)  reference groups.
C)  social classes.
D)  secondary groups.
E)  outgroups.F) B) and C)
G) A) and B)

Question 15

Which of the following is an economic force that influences the marketing environment?

Accepted Answer

A)  Computers and technological advances in a country
B)  Quality of life
C)  Purchasing power
D)  Public's opinions and attitudes
E)  Political actions of interest groupsF) A) and E)
G) All of the above

Question 16

Which of the following products is most suitable for selling through a total-market approach?

Accepted Answer

A)  Luxury cars
B)  Anti-aging creams
C)  Salt and sugar
D)  Jewelry items
E)  Consumer electronicsF) B) and D)
G) A) and B)

Question 17

In the context of the psychological variables of buying behavior,_____ is the process by which a person selects,organizes,and interprets information received from his or her senses.

Accepted Answer

A)  conditioning
B)  perception
C)  self-actualization
D)  motivation
E)  mediationF) A) and B)
G) A) and C)

Question 18

Which of the following best exemplifies social forces in a marketing environment?

Accepted Answer

A)  Technological advances in a country
B)  Opinions and attitudes of the public
C)  Economic conditions in a country
D)  General economic conditions of people
E)  Laws and regulators' interpretation of lawsF) A) and D)
G) All of the above

Question 19

Jennifer is highly influenced by celebrities in movies and advertisements.She wishes to dress like them and adopt their lifestyle.When she goes shopping,these celebrities are her point of comparison.In this scenario,the celebrities are Jennifer's _____.

Accepted Answer

A)  social class
B)  focus group
C)  reference group
D)  social model
E)  market segmentF) A) and E)
G) All of the above

Question 20

During the _____ phase of the marketing concept,businesses found that they must first determine what customers want and then produce it,rather than making the products first and then trying to persuade customers that they need them.

Accepted Answer

A)  trade orientation
B)  production orientation
C)  sales orientation
D)  market orientation
E)  demand orientationF) D) and E)
G) C) and D)

Exam 11: Customer-Driven Marketing

In the context of the psychological variables of buying behavior,_____ is the process by which a person selects,organizes,and interprets information received from his or her senses.

Correct Answer
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Why does the total-market approach work best for sellers of salt and sugar?

Correct Answer
verified

Why does marketing require creativity and consumer focus?

Correct Answer
verified

Correct Answer
verified

Jennifer is highly influenced by celebrities in movies and advertisements.She wishes to dress like them and adopt their lifestyle.When she goes shopping,these celebrities are her point of comparison.In this scenario,the celebrities are Jennifer's _____.

Correct Answer
verified

During the _____ phase of the marketing concept,businesses found that they must first determine what customers want and then produce it,rather than making the products first and then trying to persuade customers that they need them.

Correct Answer
verified

Correct Answer
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Which of the following is a condition required for an exchange to take place?

Correct Answer
verified

The groups with whom buyers identify and whose values or attitudes they adopt are referred to as:

Correct Answer
verified

Which of the following best exemplifies social forces in a marketing environment?

Correct Answer
verified

Which of the following is an economic force that influences the marketing environment?

Correct Answer
verified

Which of the following products is most suitable for selling through a total-market approach?

Correct Answer
verified

_____ segmentation is done on the basis of age,sex,race,ethnicity,income,education,occupation,family size,religion,social class.

Correct Answer
verified

During the period of _____ orientation,the supply of manufactured goods caught up with and then exceeded demand,which made businesspeople believe that extensive promotion was the only way to persuade customers to buy their products.

Correct Answer
verified

Which of the following is a psychological variable of buying behavior?

Correct Answer
verified

If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education,which of the following segmentation variables is the company using?

Correct Answer
verified

By paying the cashier at a spa for services,a customer engages in the process of:

Correct Answer
verified

_____ is the chance of loss associated with marketing decisions.

Correct Answer
verified

Which of the following is a social variable of buying behavior?

Correct Answer
verified

A customer's subjective assessment of benefits relative to costs in determining the worth of a product is known as _____.

Correct Answer
verified

Exam 11: Customer-Driven Marketing

In the context of the psychological variables of buying behavior,_____ is the process by which a person selects,organizes,and interprets information received from his or her senses.

Correct AnswerverifiedShow Answer

Why does the total-market approach work best for sellers of salt and sugar?

Correct AnswerverifiedShow Answer

Why does marketing require creativity and consumer focus?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Jennifer is highly influenced by celebrities in movies and advertisements.She wishes to dress like them and adopt their lifestyle.When she goes shopping,these celebrities are her point of comparison.In this scenario,the celebrities are Jennifer's _____.

Correct AnswerverifiedShow Answer

During the _____ phase of the marketing concept,businesses found that they must first determine what customers want and then produce it,rather than making the products first and then trying to persuade customers that they need them.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is a condition required for an exchange to take place?

Correct AnswerverifiedShow Answer

The groups with whom buyers identify and whose values or attitudes they adopt are referred to as:

Correct AnswerverifiedShow Answer

Which of the following best exemplifies social forces in a marketing environment?

Correct AnswerverifiedShow Answer

Which of the following is an economic force that influences the marketing environment?

Correct AnswerverifiedShow Answer

Which of the following products is most suitable for selling through a total-market approach?

Correct AnswerverifiedShow Answer

_____ segmentation is done on the basis of age,sex,race,ethnicity,income,education,occupation,family size,religion,social class.

Correct AnswerverifiedShow Answer

During the period of _____ orientation,the supply of manufactured goods caught up with and then exceeded demand,which made businesspeople believe that extensive promotion was the only way to persuade customers to buy their products.

Correct AnswerverifiedShow Answer

Which of the following is a psychological variable of buying behavior?

Correct AnswerverifiedShow Answer

If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education,which of the following segmentation variables is the company using?

Correct AnswerverifiedShow Answer

By paying the cashier at a spa for services,a customer engages in the process of:

Correct AnswerverifiedShow Answer

_____ is the chance of loss associated with marketing decisions.

Correct AnswerverifiedShow Answer

Which of the following is a social variable of buying behavior?

Correct AnswerverifiedShow Answer

A customer's subjective assessment of benefits relative to costs in determining the worth of a product is known as _____.

Correct AnswerverifiedShow Answer

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