Question 1

There are two distinct dimensions to the social media marketing era.

Accepted Answer

A) True 
 B)False

Question 2

Describe the steps involved in conducting marketing research.

Accepted Answer

There are four steps in the marketing re...

Question 3

) Which of the following represents a technique used to obtain primary data?

Accepted Answer

A)  Gaining access to an unpublished government report from the Federal Trade Commission.
B)  Conducting a telephone or online survey.
C)  Establishing a database to store and cross-index articles from leading journals and research publications.
D)  Reviewing the best-selling textbooks that present basic marketing principles.E) B) and C)
F) A) and D)

Question 4

All of the following statements about the B2B market are true except:

Accepted Answer

A)  the markets are often geographically concentrated.
B)  the size of industrial customers is relatively large.
C)  industrial buyers tend to be more rational.
D)  B2B market is smaller than the consumer market.E) A) and D)
F) C) and D) D

Question 5

A comparison of the marketing concept and customer relationship management indicates that customer relationship management:

Accepted Answer

A)  and the marketing concept are identical.
B)  attempts to improve profits by keeping quality high,while the marketing concept attempts to improve profits by a careful design of the promotional mix.
C)  turns the marketing concept upside down.The marketing concept emphasized that marketing was the most important function performed by a firm,but customer relationship management views marketing to be the least important function.
D)  extends the marketing concept by calling for the firm to learn more about its customers so that it not only satisfies them,but exceeds their expectations over time.E) B) and D)
F) B) and C)

Question 6

The marketing activities of an organization involve the evaluation of alternatives to finance their activities.

Accepted Answer

A) True 
 B)False

Question 7

Marketing is a set of business practices designed to plan for and present an organization's products or services in ways that build effective customer relationships.

Accepted Answer

A) True 
 B)False

Question 8

Marketing research helps determine what customers have purchased in the past,what situational changes have occurred to change consumer preferences,and what consumers are likely to want in the future.

Accepted Answer

A) True 
 B)False

Question 9

The marketing concept has three parts: (1) a consumer orientation, (2) a service orientation, and (3) an advertising orientation.

Accepted Answer

A) True 
 B)False

Question 10

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

Accepted Answer

A)  Businesses focus on developing wants and needs in consumer markets,while firms work to satisfy the existing needs of the B2B market.
B)  Relationship marketing tends to be much more important in consumer markets than in the business-to-business markets.
C)  Buyers in the business-to-business markets tend to be more rational than buyers in consumer markets.
D)  Business-to-business markets make greater use of marketing intermediaries such as wholesalers and retailers than do consumer markets.E) C) and D)
F) All of the above

Question 11

Firms adopting a relationship marketing strategy by creating a community of buyers view their company's Internet web site as a(n) :

Accepted Answer

A)  promising technique to reach the mass market.
B)  threat to the effective and efficient implementation of their strategy.
C)  tool with limited value because many people are reluctant to place orders or send information electronically.
D)  opportunity to improve their dialogue with customers and increase customer loyalty.E) B) and C)
F) All of the above

Question 12

The B2B market involves few trades and less dollars than the consumer market because there are so many more consumers than there are businesses.

Accepted Answer

A) True 
 B)False

Question 13

Psychographic segmentation involves dividing a market into segments based on values,attitudes,and interests.

Accepted Answer

A) True 
 B)False

Question 14

Jason bought an expensive new sports car last week.Immediately after the purchase,he starts to worry that he paid too much,and that a less expensive model with better gas mileage would have been a wiser choice.Marketers refer to the doubts Jason is experiencing as post-purchase stress syndrome.

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A)  John has been shopping for a new television set,but has not yet made a purchase because he is having trouble deciding which brand to buy.
B)  Julie decided to eat at a restaurant she previously avoided after learning that several movie stars she admires endorse the restaurant.
C)  Marquetto is torn between going to the movies with friends or staying home and studying for an exam tomorrow.
D)  Rico just bought an expensive stereo system and is already worried that he could have found a better deal if he had shopped more carefully.E) A) and B)
F) None of the above

Question 16

After years of selling in the consumer market,Dave accepted a job as a salesperson for a firm that markets its products in the B2B market.As he considers his new responsibilities,it's likely that he will:

Accepted Answer

A)  find little difference between buyers in the consumer market and those in the business-to-business market.
B)  discover that decision making in the B2B requires salespeople to be little more than order takers.
C)  learn that industrial buyers generally require more personal service than buyers in the consumer market.
D)  find that B2B buyers tend to purchase more on impulse than consumer buyers.E) B) and D)
F) A) and D)

Question 17

Contacting customers after a sale to reassure them that they made the right decision is intended to offset:

Accepted Answer

A)  reverse satisfaction.
B)  cognitive dissonance.
C)  doubt resolution.
D)  relationship conflict.E) A) and C)
F) B) and C) B

Question 18

Because accurate and timely market information is vital to a firm's success,businesses should budget whatever it takes to get the best data available.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Marketers define a ________ as any physical good,service,or idea that satisfies a want or need.

Accepted Answer

A)  product
B)  brand
C)  prototype
D)  concept testE) All of the above
F) A) and B) A

Exam 14: Marketing: Building Customer and Stakeholder Relationships

There are two distinct dimensions to the social media marketing era.

Correct AnswerverifiedShow Answer

Describe the steps involved in conducting marketing research.

Correct AnswerverifiedThere are four steps in the marketing re...View AnswerShow Answer

) Which of the following represents a technique used to obtain primary data?

Correct AnswerverifiedShow Answer

All of the following statements about the B2B market are true except:

Correct AnswerverifiedD

A comparison of the marketing concept and customer relationship management indicates that customer relationship management:

Correct AnswerverifiedShow Answer

The marketing activities of an organization involve the evaluation of alternatives to finance their activities.

Correct AnswerverifiedShow Answer

Marketing is a set of business practices designed to plan for and present an organization's products or services in ways that build effective customer relationships.

Correct AnswerverifiedShow Answer

Marketing research helps determine what customers have purchased in the past,what situational changes have occurred to change consumer preferences,and what consumers are likely to want in the future.

Correct AnswerverifiedShow Answer

The marketing concept has three parts: (1) a consumer orientation, (2) a service orientation, and (3) an advertising orientation.

Correct AnswerverifiedShow Answer

Hideki has just been transferred from a position in his firm where he dealt with the consumer market to a new job dealing with buyers in the B2B market.Which of the following correctly identifies a key difference Hideki is likely to observe between consumer markets and business-to-business markets?

Correct AnswerverifiedShow Answer

Firms adopting a relationship marketing strategy by creating a community of buyers view their company's Internet web site as a(n) :

Correct AnswerverifiedShow Answer

The B2B market involves few trades and less dollars than the consumer market because there are so many more consumers than there are businesses.

Correct AnswerverifiedShow Answer

Psychographic segmentation involves dividing a market into segments based on values,attitudes,and interests.

Correct AnswerverifiedShow Answer

Jason bought an expensive new sports car last week.Immediately after the purchase,he starts to worry that he paid too much,and that a less expensive model with better gas mileage would have been a wiser choice.Marketers refer to the doubts Jason is experiencing as post-purchase stress syndrome.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

After years of selling in the consumer market,Dave accepted a job as a salesperson for a firm that markets its products in the B2B market.As he considers his new responsibilities,it's likely that he will:

Correct AnswerverifiedShow Answer

Contacting customers after a sale to reassure them that they made the right decision is intended to offset:

Correct AnswerverifiedB

Because accurate and timely market information is vital to a firm's success,businesses should budget whatever it takes to get the best data available.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Marketers define a ________ as any physical good,service,or idea that satisfies a want or need.

Correct AnswerverifiedA

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There are four steps in the marketing re...
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