Question 1

Joe is developing the marketing mix for his company's new line of power tools.A brand name,price,and distribution system have been decided.Now Joe is concentrating his efforts on developing the best advertising plan for the product line.The advertising plan is part of Joe's ________ strategy.

Accepted Answer

A)  production
B)  pricing
C)  promotional
D)  productE) All of the above
F) C) and D)

Question 2

MATCHING
Complete the following using the terms listed.
-The most common method of market segmentation is _____ segmentation.

Accepted Answer

A)  secondary data
B)  affinity program
C)  market segmentation
D)  demographic
E)  target marketF) utilityG) marketing mixH) data miningI) consumer behaviorJ) ownership utilityK) exchange processL) B2BM) lifetime value of a customerN) relationship marketingO) frequency marketingP) product-related segmentationQ) G) and J)
R) F) and J)

Question 3

Which of the following is the first step in developing a marketing strategy?

Accepted Answer

A)  Identify a target market.
B)  Develop the right product.
C)  Decide how to promote the product.
D)  Implement the appropriate distribution system.E) All of the above
F) A) and B)

Question 4

Income is perhaps the most volatile factor in demographic segmentation in the United States.

Accepted Answer

A) True 
 B)False

Question 5

The era in marketing history characterized by the notion that the customer is always right is known as the ________ era.

Accepted Answer

A)  sales
B)  marketing
C)  production
D)  relationshipE) A) and D)
F) A) and C)

Question 6

Government statistics are examples of primary data.

Accepted Answer

A) True 
 B)False

Question 7

________ strategy focuses on personal selling,advertising,sales promotion tools,and public relations to produce effective communication between the firm and the marketplace.

Accepted Answer

A)  promotional
B)  distribution
C)  pricing
D)  productE) None of the above
F) All of the above

Question 8

The 80/20 principle states that roughly 80 percent of a product's revenues come from only 20 percent of its buyers.

Accepted Answer

A) True 
 B)False

Question 9

An example of secondary data is an interview with 500 reliable consumers.

Accepted Answer

A) True 
 B)False

Question 10

Marketing is a process that begins with meeting an unmet customer need.

Accepted Answer

A) True 
 B)False

Question 11

External data refer to data about other organizations.

Accepted Answer

A) True 
 B)False

Question 12

Primary data refer to data collected firsthand through such methods as observation and surveys.

Accepted Answer

A) True 
 B)False

Question 13

Marketing creates people,time,place,and ownership utility.

Accepted Answer

A) True 
 B)False

Question 14

All of the following are internal sources of data EXCEPT ________.

Accepted Answer

A)  company product sales
B)  company product inventory
C)  competitor's sales
D)  unpaid billsE) All of the above
F) A) and D)

Question 15

A Wisconsin sporting goods store that sells fishing licenses at the start of each sport fishing season is creating ________ utility.

Accepted Answer

A)  time
B)  form
C)  ownership
D)  placeE) B) and C)
F) None of the above

Question 16

________ utility is created when the business firm converts raw materials into finished goods and services.

Accepted Answer

A)  Form
B)  Ownership
C)  Exchange
D)  PlaceE) B) and C)
F) None of the above

Question 17

Which of the following is NOT consistent with relationship marketing?

Accepted Answer

A)  focusing on attaining new customers,even at the expense of losing long-term ones
B)  developing partnerships with suppliers
C)  developing partnerships with customers
D)  supporting other businesses where that support is beneficial to the company's goalsE) None of the above
F) A) and B)

Question 18

The first step in the consumer behavior process is the recognition of a problem or opportunity.

Accepted Answer

A) True 
 B)False

Question 19

Personal determinants in the buying decision include all of the following EXCEPT ________.

Accepted Answer

A)  needs and motives
B)  perception and attitudes
C)  learning and self-concept
D)  cultural experiencesE) A) and B)
F) A) and C)

Question 20

Describe the sources of marketing research data.

Accepted Answer

Marketing research uses both external an...

Exam 11: Customer-Driven Marketing

Marketing is a process that begins with meeting an unmet customer need.

Correct AnswerverifiedShow Answer

External data refer to data about other organizations.

Correct AnswerverifiedShow Answer

Describe the sources of marketing research data.

Correct AnswerverifiedMarketing research uses both external an...View AnswerShow Answer

All of the following are internal sources of data EXCEPT ________.

Correct AnswerverifiedShow Answer

Government statistics are examples of primary data.

Correct AnswerverifiedShow Answer

Income is perhaps the most volatile factor in demographic segmentation in the United States.

Correct AnswerverifiedShow Answer

Marketing creates people,time,place,and ownership utility.

Correct AnswerverifiedShow Answer

A Wisconsin sporting goods store that sells fishing licenses at the start of each sport fishing season is creating ________ utility.

Correct AnswerverifiedShow Answer

Primary data refer to data collected firsthand through such methods as observation and surveys.

Correct AnswerverifiedShow Answer

________ utility is created when the business firm converts raw materials into finished goods and services.

Correct AnswerverifiedShow Answer

Personal determinants in the buying decision include all of the following EXCEPT ________.

Correct AnswerverifiedShow Answer

Which of the following is the first step in developing a marketing strategy?

Correct AnswerverifiedShow Answer

Which of the following is NOT consistent with relationship marketing?

Correct AnswerverifiedShow Answer

The 80/20 principle states that roughly 80 percent of a product's revenues come from only 20 percent of its buyers.

Correct AnswerverifiedShow Answer

Joe is developing the marketing mix for his company's new line of power tools.A brand name,price,and distribution system have been decided.Now Joe is concentrating his efforts on developing the best advertising plan for the product line.The advertising plan is part of Joe's ________ strategy.

Correct AnswerverifiedShow Answer

________ strategy focuses on personal selling,advertising,sales promotion tools,and public relations to produce effective communication between the firm and the marketplace.

Correct AnswerverifiedShow Answer

MATCHING Complete the following using the terms listed. -The most common method of market segmentation is _____ segmentation.

Correct AnswerverifiedShow Answer

An example of secondary data is an interview with 500 reliable consumers.

Correct AnswerverifiedShow Answer

The era in marketing history characterized by the notion that the customer is always right is known as the ________ era.

Correct AnswerverifiedShow Answer

The first step in the consumer behavior process is the recognition of a problem or opportunity.

Correct AnswerverifiedShow Answer

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Marketing research uses both external an...
View Answer

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