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Exam 13: Marketing: Helping Buyers Buy

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Question 61

True/False

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Price is the determining factor as to whether a good is classified as a consumer product or a B2B product.

A) True
B) False

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Question 62

Multiple Choice

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A firm that uses ________ segmentation divides a market into groups based on age, income, or level of education.

A) demographic
B) psychographic
C) perceived value
D) econometric

E) B) and C)
F) None of the above

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Question 63

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Relationship marketing depends on understanding individual consumers and responding quickly to their wants and needs.

Travel agencies demonstrate a one-to-one marketing strategy when they develop unique vacation packages for individual customers.

Whenever available, marketers should rely exclusively on primary data because it is much more accurate than secondary data.

Which of the following is the best example of cognitive dissonance?

Which of the following statements about Briana's marketing approach is most accurate?

Target marketing is a business strategy that focuses a firm's marketing efforts toward a potentially profitable segment of a larger market.

When Briana attempts to identify economic, social, and competitive factors that could affect her success in the fitness market, she is engaging in

Using advances in technology to maintain databases of customer information is more important for firms involved in mass marketing than it is for those firms using relationship marketing.

Mobile apps, like Rewards4You, engage users by combining the most basic elements of social media. These apps are a great benefit to both customers and businesses. Customers get a special deal while businesses are able to get their names out to the friends of users. This is an effective form of promotion.

Because the marketing concept emphasizes a profit orientation, marketing has not been used successfully by nonprofit organizations.

Demographic segmentation divides a market into segments based on the customer's location.

Which of the following statements is most consistent with today's views on effective marketing?

Buyers in the B2B market tend to make more rational decisions than buyers in the consumer market.

The fact that ShapeUP is designed to appeal to women of a certain age, education, and income level means that Briana is using

A phone or online survey is an example of primary data collection.

Learning involves changes in an individual's behavior resulting from previous experiences and information.

The marketing process includes decisions about the best way to get the product to the consumer.

The Fairness Foundation is a nonprofit organization that helps underprivileged children. As a nonprofit organization, it does not perform marketing functions, since these functions are designed to help organizations earn a profit.