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Exam 13: Marketing: Helping Buyers Buy

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Question 41

Multiple Choice

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Which of the following statements about the distinction between consumer goods and B2B goods is the most accurate?

A) The same product can be classified as either a consumer good or an industrial good,depending upon its end use.
B) Industrial goods tend to have a useful life of several years and can be depreciated while consumer goods typically last less than a year.
C) Consumer goods are typically more expensive than industrial goods.
D) Industrial goods are custom made to the specifications of the buyer,while the all consumer goods are mass-produceD.

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

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Question 42

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

A) product
B) copyright
C) prototype
D) concept

E) All of the above
F) None of the above

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Question 43

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Marketing is different in B2B markets than in consumer markets.Identify and explain three differences between the business-to-business market and the consumer market.

H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market.Although consumer response was positive to the idea of the new product,management wants to find out more before committing to full-scale production.The next step H2 O'Yeah's marketing department is likely to take is to:

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.

Helen,a manager for Marshall Manufacturing,spends much of her time reviewing the global,technological,socio-cultural,competitive,and economic factors that can influence the success of her firm's marketing efforts.Helen's efforts indicate that she is involved with environmental scanning.

With help from the marketing department,engineers at Easy Electronics have designed a new type of cable modem that is easier to install in computers and more reliable than any cable modems currently in use.The marketing managers want to find a way to identify the new modem in the minds of consumers and differentiate it from less sophisticated products made by Easy's competitors.An important part of this effort is likely to be the selection of a __________ for the new modem.

During the early 1900s,businesses emphasized learning as much as possible about their customers and doing everything to satisfy them.

Roosevelt Community College has experienced declining enrollment for the past three years.In the past the college has relied strictly on enrollment from newly graduated high school students.In order to identify other potential markets,Roosevelt Community College would benefit from:

Marketing research needs to be an ongoing process at a firm since changes in the marketplace and among consumers is a continuous process.

In the evolution of marketing,the production era assumed an unlimited market.

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

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

Mini-Case Callie is a successful executive who is also a fitness enthusiast.For years she worked out at Big Jim's Gym,the only gym in her small hometown.However,she felt that the environment at Big Jim's was too masculine,and discovered that her female friends agreed.They disliked the small,smelly locker room,and the limited selection of aerobics equipment.Most of them eventually quit going to Big Jim's.Callie talked to Jim Nasium,the owner of Big Jim's,about things he could do to attract more women,but Jim had little interest in making any changes."I've got all the business I can handle," he told Callie."Why should I spend a bunch of money to redecorate and add extra equipment? Besides,lots of the guys who work out here tell me they like the simple,no-frills atmosphere." Frustrated by Jim's indifference to her ideas,Callie began looking into the possibility of starting a health club to appeal to young,well-educated women.After visiting health clubs in other towns and talking to several friends to get ideas,she came up with a detailed plan for her club.She then described her ideas to women in the community to see how much interest there was in this type of facility.The extremely positive response encouraged her to go ahead with her plans.It took a while,but she ultimately obtained the financial backing to go into business. Callie calls her new health club Curves and Shapes.It offers a spacious and attractive locker room,better aerobics equipment,a child care area so young mothers can have someone watch their toddlers while they work out,and exercise classes designed to appeal to young women.When a woman joins her health club,Callie schedules a free session with a personal trainer who works with the new member to design a personalized workout program.Callie tries hard to keep close to her customers,sending them a monthly newsletter that includes a survey asking what they like and don't like about Curves and Shapes.She wants to please her existing customers and keep them coming back.In fact,now that Curves and Shapes have a strong membership base,Callie believes it is more important to keep existing customers loyal than to attract new customers.In addition to the comments from her own customers,Callie also spends a lot of time tracking economic,social,and competitive trends in the health club industry,trying to identify factors that can affect the marketing success of her health club.She subscribes to several journals that cover trends and report on research findings related to the health club business.She has found that these journals provide her with an inexpensive source of useful information. -When Callie developed a detailed description of her ideas for a health club and asked for feedback from women about the proposal,she was engaging in:

Marketers have learned that customers' perceptions about how a business acts can be very important.As the Making the Green Connection box suggests,

The most important technological change likely to affect the marketing success of many firms is the:

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

The tremendous demand for consumer goods and services after World War II helped launch the production era of marketing.

Successful marketing researchers:

For safety sake,an organization should produce as many products as possible since customers are not a good source of informing the organization what they want to buy.