Chapter 13. Marketing: Helping Buyers Buy

False

A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people. True or False

True (An effective promotional strategy informs people about products or services and motivates them to buy. Apps like WeReward help the businesses get their name out there.)

Apps, like WeReward, 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 and businesses are able to get their names out to the friends of users. This is an effective form of promotion. True or False

C. mass marketing. (Mass marketing means developing products and promotions that are designed to please large groups of people. This approach relies heavily on mass media to promote products, which can lead to one-way messages rather than personal dialogues with customers.)

As a marketing manager for Kitch-It-Tools, Jim is frustrated with the way his organization markets their kitchen utensils. Currently Kitch-It-Tools utilizes a strategy aimed towards the largest possible number of people, relying heavily on television and radio advertising. Jim complains that the firm is not listening to its customers and is in danger of losing many of them to firms that create a personal dialogue with their buyers. Presently Kitch-It-Tools practices: A. a constant change strategy. B. relationship marketing. C. mass marketing. D. market segmentation.

A. Setting a price for the light fixtures her firm produces (Marketing managers deal with the 4 Ps: product development, pricing, place (distribution) and promotion; thus Lucinda will likely be involved in setting a price for the light fixtures her firm produces.)

As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in which of the following? A. Setting a price for the light fixtures her firm produces B. Deciding the best way to hire new employees to produce the lights C. Developing ideas for new ways to produce the lights D. Determining the best way to finance the purchase of new production equipment

False

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

False

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

False

For safety's 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. True or False

False

In business-to-business markets, sellers rely on wholesalers and retailers to efficiently distribute their products. True or False

False

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. True or False

C. customer relationship management. (In order to retain loyal customers, marketers have adopted the practice of customer relationship management, the process of getting to know everything they can about their customers.)

The Bay Street Bakery has a respected following. When it moved the business to a famous resort area, it took a big risk; however, the owners were confident that its unique cookies and pastries would win customer raves. Fortunately, one of the members of the family business was convinced the bakery needed to stay in touch with its customers. While visiting the bakery, the business collected names and addresses in order to send messages about promotions and coupons to valued customers. Marketing professionals refer to this strategy as: A. niche marketing. B. production management. C. customer relationship management. D. sales management.

False

The focus of the production era was on distribution and advertising. True orFalse

False

The four eras of the evolution of marketing are (1) production, (2) selling, (3) advertising, and (4) stakeholder relationships. True or False

False (The marketing concept has three parts: a customer orientation, a service orientation, and a profit orientation. The customer orientation and profit orientation components are not mutually exclusive, since firms are unlikely to earn a profit unless they are responsive to the needs of their customers.)

The marketing efforts at Rotary Enterprises place a great deal of emphasis on marketing goods that will earn the firm a profit. This focus on profit orientation shows that Rotary has not yet adopted the marketing concept that emphasizes a customer orientation rather than a profit orientation. True or False

B. concept testing

Which of the following describes a process in which marketers present an accurate description of a new product to potential customers and ask if they find the idea appealing? A. prototype testing B. concept testing C. test marketing D. competitive benchmarking

B. selling era

Which of the following describes the marketing era immediately after the development of mass-production assembly lines? A. production era B. selling era C. marketing era D. customer relationship era

A. a consumer orientation (The marketing concept has three basic components. They are (1) consumer orientation, (2) total organizational effort towards consumer satisfaction, and (3) profit orientation.)

Which of the following is a part of the marketing concept? A. a consumer orientation B. avoidance of risk C. financial return orientation D. emphasis on efficient production

B. Conducting personal interviews with potential customers

Which of the following represents a technique used to obtain primary data? A. Gaining access to an unpublished government report from the Federal Trade Commission B. Conducting personal interviews with potential customers C. Establishing a database to store and cross-index articles from leading academics and researchers D. Reviewing the best-selling trade books and textbooks that present marketing principles

A. a market.

People with unsatisfied wants and needs who have both the ability and the willingness to buy are: A. a market. B. stockholders. C. a profit center. D. a marketing mix.

C. rely less on marketing intermediaries. (B2B sales tend to be direct. Manufacturers sell products directly to other businesses, while consumer goods often utilize wholesalers and retailers.)

Compared to consumer markets, B2B markets: A. demand more promotional emphasis on radio and television in order to stimulate sales. B. rely less on relationship marketing. C. rely less on marketing intermediaries. D. are characterized by buyers who behave less rationally.

B. target marketing. (A target market is a group of customers with similar characteristics (a market segment) that a firm believes it can profitably serve. Referen)

Cool People Publications focuses their marketing efforts on reaching African American teenage girls. The firm believes that they are positioned to profitably serve this group of consumers. Cool People utilizes the strategy of: A. narrowcasting. B. target marketing. C. primary marketing. D. focus group selection.

B. marketing research (Marketing research is the process of gathering information in order to understand the types of products and services customers want; the types of promotional messages that will appeal to the target audience for a particular product or service; and to understand business trends.)

In the past, companies have designed intricate products that markets did not perceive any need for. They have aired promotional campaigns that have offended audiences. They have priced products out of reach of the target market. Marketing experts defend the importance of ________________, the process of gathering all sorts of information about customers and products in order to make informed decisions about the product, price, place, and promotion. A. target marketing B. marketing research C. market segmentation D. global trekking

A. segmenting the market. (Target markets are the groups of customers (market segments) an organization believes it can profitably serve.)

Jeep recognizes that it has some customers who like roomy SUVs, while others like more compact versions. It also has customers who prefer off-road, sport-type vehicles. Jeep makes several models (such as Grand Cherokee, Liberty, Patriot, Compass, and Wrangler) to satisfy the different tastes and lifestyles of its customers. Grand Cherokee customers may want traditional SUV luxury, and seldom settle for anything other than leather interiors. Liberty customers might be described as sportier, and typically women. Wrangler customer characteristics may include a group that is seldom over 30 years of age, typically male, and have often served in the U.S. military. By recognizing differences in its customers, and using different characteristics to define its customers, Jeep is: A. segmenting the market. B. practicing one-to-one marketing. C. grouping the markets. D. modeling.

D. increase in the number of older Americans.

One of the social trends that marketers must monitor to maintain their close relationship with customers is the: A. increase in the number of competitors servicing the target market. B. amount of unemployment in the target market. C. number of people who can use computers with proficiency. D. increase in the number of older Americans.

A. Evaluating various distribution alternatives to determine the best way to get the product to the consumer (One of the 4 Ps in the marketing mix is place, which refers to the best way to get a good or service to the consumer.)

Which of the following tasks would be included in the marketing mix? A. Evaluating various distribution alternatives to determine the best way to get the product to the consumer B. Examining various sources of funds to determine the best way to finance an expansion of the organization's production facilities C. Assigning tasks to specific workers on specialty product assembly lines D. Developing financial statements based on the sales transactions of the firm during a specific time period

B. marketing mix

While the four Ps help us remember the basics components of the ________, they don't have significant relevance in the marketing process. A. production operation B. marketing mix C. product development process D. competitive benchmarking process