Chapter 11 Quiz

A person's buying behavior may be affected by his or her social roles.

*True False

The financing function expedites purchases through making credit available.

*True False

When High Tech Stereo Company wanted to alter its product, its managers began their research by referring to sales figures. This is an example of

*secondary data gathering. primary data gathering. expensive research. external research. subjective research.

Salt, sugar, and many agricultural products are sold using which of the following approaches?

Concentration Focused *Total Market Multi-segment Universal

Which type of data is probably least expensive to collect?

Expensive Research External Research Subjective Research *Primary Data Secondary Data

Which of the following is not a social force in the marketing environment?

Lifestyles and quality of life issues Ethics *Technological advancements Public opinions Attitudes about Living Standards

Which of the following is not a social force in the marketing environment?

Public opinions Attitudes about livings standards Ethics *Technological advancements Lifestyles and quality of life issues

Marketing requires creativity and a consumer focus because the marketing environment can

Remain the same for generations at a time Be easy to understand Be prone to economic downturns Psychologically complex *Change quickly and dramatically

Anna is active in recycling and tree-planting programs in her community and she refuses to buy products that have excessive packaging. This illustrates which of the following factors of buyer behavior?

Social class Reference group *Attitude Personality Motivation

A target market is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas.

True *False

Buying expedites the exchange process and marketers view it as a persuasive activity that is accomplished through promotion.

True *False

Competitive and economic forces in the marketing environment include technological issues.

True *False

Which of the following is not a competitive or economic force in the marketing environment?

Unemployment Inflation Recessions and depressions *Laws and regulations Competitive advantage

The first major step of a marketing strategy is to

determine the price. select a target market. develop an appropriate marketing mix. add on a warranty feature. put the product on sale.

Richard has acquired a supply of canned fruits and vegetables. He does not yet have a buyer for them but he's using promotion and other activities to find a buyer. He is performing the marketing function of

market segmentation. *selling marketing research grading purchasing

To effectively implement the marketing concept, an organization must

meet consumer needs and wants. *balance meeting its own objectives and satisfying customer needs. make a large profit. produce quality products. perform all of the marketing functions.

Rick Richardson developed a new product and has found a retail store willing to sell it. He has also agreed to help promote the product's sale. He is engaging in

retailing *marketing discounting exchanging researching

A marketing strategy consists of

selecting a target market. choosing a product to distribute. none of the above. *selecting a target market and developing a marketing mix to satisfy it. developing a marketing mix.

The exchange process is

value added to products. satisfaction of the seller's needs. the price of a product. *at the heart of all business. the source of credit.