Marketing
15. Each of the following is an example of a market segment except a. freshmen at a four-year high school b. students at a university who purchase season football tickets c. all teenagers in the United States d. female NASCAR fan
C
21. Secondary data a. is collected by observing consumer behavior c. has already been collected for some other purpose
C
. . Today's consumers a. are more mobile than ever before c. consider benefits derived when making purchases b. have more choices for their discretionary income d. all of the above
D
19. Most consumers a. have limited financial resources c. use the decision-making process to decide how to spend their limited resources
D
23. The marketing concept a. focuses attention on satisfying customer needs c. involves satisfying exchange relationships between the consumer and producer
D
18. Emotional purchases are more likely not to occur when a. individuals are shopping for groceries on a tight budget c. individuals are watching a college football rivalry and their team is winning
A
22. The first step in marketing a product is to determine a. who specifically the customer is for the product c. who the competition is in the marketplace
A
24. Purchases based upon careful thought and sound reasoning are __________ purchases. a. rational b. emotional c. patronage d. values-based
A
_______ segmentation divides markets into physical locations, such as Eastern, Northern, Southern, and Western regions of the United States. a. Geographic b. Demographic c. Psychographic d. Behavioral-based
A
17. Realization of one's self potential is referred to as the __________ need in Maslow's Hierarchy of Needs. a. self-esteem b. self-actualization c. physiological d. security
B
20. External sources of information for businesses do not come from a. government reports b. the company's financial reports c. trade and professional organizations d. business publications
B
14. __________ is not part of Maslow's Hierarchy of Needs. a. Financial stability b. Self-actualization c. Security d. Physiological needs
A
27. Marketers should never group consumers based on the benefits derived from products or services. a. True b. False
False
28. Mass marketing is used by companies when they are trying to appeal to a diverse group of consumers with different needs. a. True b. False
False
4. Producers are the driving force behind the marketing concept. a. True b. False
False
8. Physiological needs include recognition and respect from others. a. True b. False
False
The increased standard of living in the United States has resulted in less discretionary income for consumers. a. True b. False
False
1. About half of every dollar that consumers spend on products pays for marketing costs. a. True b. False
True
10. The best strategy for a business to rise above the competition is to provide uncompromising, outstanding customer service. a. True b. False
True
11. Teenagers in the United States spend billions of dollars annually, making them a desirable target market. a. True b. False
True
12. Mystery guests are sometimes hired to determine how well companies are performing customer service. a. True b. False
True
2. The marketing concept requires maintenance of important relationships with customers. a. True b. False
True
25. Employees need to remember that customer service is everyone's responsibility. a. True b. False
True
26. A values-based culture communicates values through high performance and excellent customer service. a. True b. False
True
5. Young families often spend entertainment dollars to attend sporting events for their children. a. True b. False
True
6. Two major goals of marketing are to determine what consumers want and how much they are willing to pay. a. True b. False
True
7. Companies that have a comparative advantage are able to pass savings to their customers in the form of lower prices. a. True b. False
True
9. Economic uncertainty has a direct impact on consumer purchases. a. True b. False
True
