BUSN chapter 11 True or False
ANSWER: True
1. Form utility satisfies wants by converting inputs into a finished form
ANSWER: False
10. Cognitive dissonance is the payoff for delivering value and generating satisfaction.
ANSWER: True
11. A marketing plan is a formal document that defines marketing objectives and the specific strategies for achieving those objectives.
ANSWER: True
12. Your target market is the group of people who are most likely to buy your product.
ANSWER: False
13. Consumer marketers direct their efforts to customers who are buying products to use either directly or indirectly to produce other products.
ANSWER: False
14. Demographic segmentation refers to dividing the market based on where consumers live.
ANSWER: True
15. The price of a product must be relative to the benefits of that product.
ANSWER: False
16. In the context of the marketing mix, the distribution strategy includes all of the ways that marketers communicate about their products.
ANSWER: True
17. The social/cultural element of the marketing environment covers a vast array of factors, including lifestyle, customs, language, attitudes, interests, and population shifts.
ANSWER: False
18. Developing specific programs to help customers validate their purchase choices is one way marketers attempt to increase cognitive dissonance.
ANSWER: True
19. Primary data is the new data that marketers compile for a specific research project.
ANSWER: False
2. People marketing involves drawing people to a particular place.
ANSWER: False
20. A major disadvantage of primary data is that it gets frequently outdated.
ANSWER: True
21. In the context of marketing research, secondary data is existing data that marketers gather or purchase for a research project.
ANSWER: False
22. Primary data tends to be lower in cost than secondary data.
ANSWER: False
23. Survey research is the marketing research that does not require the researcher to interact with the research subject.
ANSWER: True
24. Through the use of technology, marketers can lower costs and deliver greater value to their customers.
ANSWER: False
25. Green marketing has created an abundance of promotional opportunities, as marketers reach out to consumers via new tools, such as interactive advertising, virtual reality displays, text messaging, and video kiosks.
ANSWER: False
3. The commerce ministry of Setina Islands, a tax haven country, has been advertising the country's business opportunities and tourist-friendly culture in various international magazines. The advertisements illustrate idea marketing.
ANSWER: False
5. Escribo Marketing holds annual blood donation camps and conducts other similar charitable events in educational institutions. Escribo Marketing is using people marketing.
ANSWER: False
6. During the production era of marketing, the top business priority was to deliver unmatched value to customers.
ANSWER: True
7. The marketing concept holds that delivering unmatched value to customers is the only effective way to achieve longterm profitability.
ANSWER: False
8. The marketing concept has gathered momentum across the economy, leading to the marketing era, unfolding over the last decade, which zeros in on long-term customer relationships.
ANSWER: True
9. When it comes to creating customer satisfaction, perceived value is just as important as actual value.