Business Ch. 11 Test 4 Study Guide

Your target market is the group of people who are most likely to buy your product. a. True b. False

True

Demographic segmentation refers to dividing the market based on where consumers live. a. True b. False

False

Escribo Marketing holds annual blood donation camps and conducts other similar charitable events in educational institutions. Escribo Marketing is using people marketing. a. True b. False

False

In the context of the marketing mix, the distribution strategy includes all of the ways that marketers communicate about their products. a. True b. False

False

A marketing plan is a formal document that defines marketing objectives and the specific strategies for achieving those objectives. a. True b. False

True

Form utility satisfies wants by converting inputs into a finished form. a. True b. False

True

In the context of marketing research, secondary data is existing data that marketers gather or purchase for a research project. a. True b. False

True

Primary data is the new data that marketers compile for a specific research project. a. True b. False

True

The marketing concept holds that delivering unmatched value to customers is the only effective way to achieve long-term profitability. a. True b. False

True

The price of a product must be relative to the benefits of that product. a. True b. False

True

The social/cultural element of the marketing environment covers a vast array of factors, including lifestyle, customs, language, attitudes, interests, and population shifts. a. True b. False

True

Through the use of technology, marketers can lower costs and deliver greater value to their customers. a. True b. False

True

People marketing involves drawing people to a particular place. a. True b. False

False

Recycle, don't drink and drive, buckle your seatbelt, support our political party, donate blood, and don't smoke are all examples of popular causes that use event marketing. a. True b. False

False

Survey research is the marketing research that does not require the researcher to interact with the research subject. a. True b. False

False

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. a. True b. False

False

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. a. True b. False

False

_____ is the ongoing process of acquiring, maintaining, and growing profitable customer associations by delivering unmatched value. a. Customer relationship management b. Cognitive dissonance c. Customer-based segmentation d. Customer centricity

a. Customer relationship management

Keitras is a women's apparel store that specializes in winter clothing. It targets university students aged 20-25 with its trendy collection of sweaters, sweatshirts, stockings, and stoles. In the context of consumer market segmentation, which of the following types of market segmentation does Keitras most likely follow? a. Demographic segmentation b. Behavioral segmentation c. Customer-based segmentation d. Geographic segmentation

a. Demographic segmentation

The _____ is a business philosophy that makes customer satisfaction—now and in the future—the central focus of the entire organization. a. marketing concept b. production concept c. social marketing concept d. hard sell concept

a. marketing concept

Which of the following is a difference between demographic segmentation and geographic segmentation? a. Demographic segmentation refers to dividing the market based on how people behave toward various products, whereas geographic segmentation refers to dividing the market based on consumer attitudes, interests, values, and lifestyles. b. Demographic segmentation refers to dividing the market based on measurable characteristics about people, whereas geographic segmentation refers to dividing the market based on where consumers live. c. Demographic segmentation refers to dividing the market based on where consumers live, whereas geographic segmentation refers to dividing the market based on how people behave toward various products. d. Demographic segmentation refers to dividing the market based on consumer attitudes, interests, values, and lifestyles, whereas geographic segmentation refers to dividing the market based on measurable characteristics about people.

b. Demographic segmentation refers to dividing the market based on measurable characteristics about people, whereas geographic segmentation refers to dividing the market based on where consumers live.

The coastal town of Olaspen offers various exotic water sports and hiking expeditions to its tourists. The town government of Olaspen advertises its adventure tourism in travel magazines, newspapers, and on the television in neighboring countries. Which of the following marketing strategies does this scenario best illustrate? a. People marketing b. Place marketing c. Event marketing d. Idea marketing

b. Place marketing

Coastharp, a furniture e-commerce website, allows its customers to book one-hour slots during which they wish to get their furniture delivered. They can also book another one-hour slot to get the delivered furniture assembled at their convenience. The company holds back orders and delays deliveries when customers are not available to receive them. In the context of marketing, which of the following utilities does Coastharp most likely provide through its service? a. Form utility b. Time utility c. Possession utility d. Ownership utility

b. Time utility

In the context of marketing research data, an example of primary data is _____. a. U.S. Census b. a focus group c. the Wall Street Journal d. a company's product sales history

b. a focus group

Neone is an energy drink manufacturer. The marketing strategies of Neone are focused on males who are in the age group of 16 to 25 years and who enjoy sports and other outdoor activities. The company advertises its products at skateboard parks, basketball venues, and ski resorts. The customer group that Neone focuses on is called its _____. a. business market b. target market c. niche market d. consumer market

b. target market

Katherop, a company that manufactures and supplies baby clothes, conducts a charity program every year to distribute free products to the underprivileged children in rural areas. The company advertises this program to gain attention of its customers. Which of the following marketing strategies does this scenario best illustrate? a. People marketing b. Place marketing c. Event marketing d. Relationship marketing

c. Event marketing

Which of the following is an example of survey research? a. Scanner data from retail sales b. Traffic counters to determine where to place billboards c. Online questionnaires d. Garbage analysis to measure recycling compliance

c. Online questionnaires

Jackson runs a chain of small retail stores called Wandmin that sells bottled water, fresh juices, desserts, and some snacks. All outlets of Wandmin are either in the middle of or at the end of walking trails in Jackson's hilly hometown, where several tourists go hiking. In the context of marketing, which of following utilities does Wandmin most likely provide? a. Form utility b. Time utility c. Place utility d. Ownership utility

c. Place utility

The Internet has opened the door for _____, which is creating products tailored for individual consumers on a large scale. a. corporate philanthropy b. ethical consumerism c. mass customization d. flow production

c. mass customization

Jim works in the marketing department of a smartphone manufacturing firm. He is currently working on ideas for a new package design for the company's latest range of smartphones. In the context of the company's marketing mix, Jim's ideas contribute to the _____. a. pricing strategy b. distribution strategy c. product strategy d. promotion strategy

c. product strategy

_____ is the description of how people act when they are buying, using, and discarding goods and services for their own personal consumption. a. Cognitive dissonance b. Observation research c. Survey research d. Consumer behavior

d. Consumer behavior

Habetts, a company that sells cell phone accessories, introduced a new range of cell phone covers in various patterns that read the following: "I don't drink and drive because I love my family." Which of the following marketing strategies does this scenario best illustrate? a. People marketing b. Place marketing c. Event marketing d. Idea marketing

d. Idea marketing

Spalkyn, a footwear company, allows its customers to shop online on its website or mobile app or at its physical stores. At the company's physical stores, customers are given the option to pick up their products or have them delivered. In the context of marketing, which of following utilities does Spalkyn most likely provide? a. Form utility b. Time utility c. Task utility d. Ownership utility

d. Ownership utility

Jared Elmer is the presidential candidate of National Ernest Party, a political party. The party's election campaigns have been focusing on projecting Jared's educational qualifications, political background, ancestral glory, etc. Which of the following marketing strategies do the election campaigns illustrate? a. Place marketing b. Idea marketing c. Green marketing d. People marketing

d. People marketing

Walt owns an auto repair shop in Northern Rottasa. He goes an extra mile to please his customers by providing comfortable and attractive waiting rooms, friendly service, and long-term warranty on all repair work. Which of the following philosophies has Walt employed to make his customers highly satisfied? a. The socially responsible marketing concept b. The production concept c. The hard sell concept d. The marketing concept

d. The marketing concept

Understanding the _____ begins with analysis of market share. a. social environment b. technological environment c. demographic strengths d. competitive environment

d. competitive environment

The goal of the _____ of a product is to deliver the product to the right people, in the right quantities, at the right time, in the right place. a. promotion strategy b. pricing strategy c. product strategy d. distribution strategy

d. distribution strategy

Monitoring and predicting consumer behavior is an objective of _____. a. organizational identification b. value stream mapping c. quality control d. marketing research

d. marketing research

In the context of the marketing mix, the _____ of a product includes all of the ways that marketers communicate about the product. a. distribution strategy b. pricing strategy c. product strategy d. promotion strategy

d. promotion strategy