Business principles chap 11
Which of the following characteristics of a well-chosen target market states that the people of the target market must be willing and able to spend more than the cost of producing and marketing a product
profitability
Which of the following has incited leading-edge marketers to set higher standards in key areas such as environmentalism, abolishment of sweatshops, and involvement in the local community?
social responsibility
When it comes to creating customer satisfaction, perceived value is just as important as actual value
True
Your target market is the group of people who are most likely to buy your product.
True
Which of the following marketing strategies can be best employed for attracting tourists
place marketing
A major disadvantage of primary data is that it gets frequently outdated.
False
Cognitive dissonance is the payoff for delivering value and generating satisfaction.
False
Consumer marketers direct their efforts to customers who are buying products to use either directly or indirectly to produce other products.
False
Demographic segmentation refers to dividing the market based on where consumers live.
False
Developing specific programs to help customers validate their purchase choices is one way marketers attempt to increase cognitive dissonance.
False
During the production era of marketing, the top business priority was to deliver unmatched value to customers.
False
Escribo Marketing holds annual blood donation camps and conducts other similar charitable events in educational institutions. Escribo Marketing is using people marketing
False
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.
False
A marketing plan is a formal document that defines marketing objectives and the specific strategies for achieving those objectives.
True
In the context of marketing research, secondary data is existing data that marketers gather or purchase for a research project.
True
Primary data is the new data that marketers compile for a specific research project.
True
The social/cultural element of the marketing environment covers a vast array of factors, including lifestyle, customs, language, attitudes, interests, and population shifts.
True
Through the use of technology, marketers can lower costs and deliver greater value to their customers.
True
People marketing involves drawing people to a particular place.
False
Primary data tends to be lower in cost than secondary data
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.
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.
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
False
In the year 1938, Popoud, a chocolate manufacturing company, was finding it difficult to trade its products because people were reluctant to spend money on nonessential goods. However, the company continued to manufacture chocolates in large quantities. In the context of the evolution of marketing, which of the following eras does this scenario most likely refer to
The selling era
Arnoury, a car service station, takes feedback from clients after servicing their cars, which gives the clients a sense of importance. Arnoury's management also ensures rectification and improvement of its services based on clients' feedback. Which of the following marketing strategies does this scenario best illustrate
customer relationship management