Intro-Into-Business: Ch. 13 Learn Smart

The process of learning as much as possible about present customers and doing everything you can over time to satisfy them is: A. CMA B. CPA C. CRM D. CPI

C. CRM

Dividing the market using a group's values, attitudes, and interests is _________ segmentation.

benefit

Studying the thought processes people use to make buying decisions and the factors that influence their choices is __________ behavior.

consumer

One-to-one marketing focuses on developing a unique mix of goods and services for each __________ customer.

individual

The production era philosophy was to produce as much as possible because the _________ was unlimited.

market

Existing data is called ___________ data since you aren't the first one to gather the data.

secondary

Rank order the difference eras of marketing by putting the earliest at the top to the most recent at the bottom. 1. Production 2. Customer relationship 3. Sales 4. Marketing concept

1. Production 3. Sales 4. Marketing concept 2. Customer relationship

Within the marketing environment, computers, telecommunications, bar codes, data interchange, and internet changes are all considered: A. competitive factors B. economic factors C. technological factors D. sociocultural factors

C. technological factors

When using benefit segmentation, marketers must determine: A. how much a segment uses a product B. the age and income of certain segments C. the product features that appeal to segments D. the attitudes and values of certain segments

C. the product features that appeal to segments

Change in the U.S. population that create challenges for marketers are the different tastes and preferences of growing __________ groups such as Hispanics and Asian Americans.

ethnic

Dividing a market by cities, counties, states, or regions is _________ segmentation.

geographic

Churches use __________ to attract new members and funding for their operations and programs.

marketing

A three-part business philosophy that involves a customer, service, and profit orientation is the ____________ __________.

marketing concept

Developing products and promotions to please large groups of people is __________ marketing

mass

The business-to-business market is made of all individuals and _________ that want goods and services for production, sales to others.

organizations

Often secondary data does not provide all the information managers need for decision making, and they must gather __________ data.

primary

Interviews, surveys, and observation are considered _________ sources, whereas publications, magazines, and newspapers are considered __________ sources of market research.

primary secondary

The web allows companies to communicate with their customers to assist in cultivating customer ___________, as people interact with the company.

relationships

Marketing _________ helps to identify what products customers have purchased in the past , current purchasing patterns, and future wants.

research

Conducting __________, whether telephone, online, or mail, is a popular source of primary data.

surveys

It takes time and financial resources to learn as much as a company can about its customers and what factors satisfy them. This present marketing era is called: A. selling B. customer relationship C. production D. mass customization

B. customer relationship

The strategy focused on keeping individual customers over time by offering them products that meet their exact needs is: A. mass marketing B. relationship marketing C. niche marketing D. one-to-one marketing

B. relationship marketing

Marketing is the activities, set of institutions, and processes that add __________ for customers. A. employment B. value C. high technology D. low prices

B. value

Why are B2B sales based on personal selling? A. More of these customers like advertising B. Few of these customers like advertising C. Large purchases cost more and are complex D. Customers demand personal service for larger investments

C. Large purchases cost more and are complex D. Customers demand personal service for larger investments

The segmentation technique where the product features appeal to certain groups is: A. demographic segmentation B. volume segmentation C. benefit segmentation D. marketing mix segmentation

C. benefit segmentation

One of the fastest-growing segments of the U.S. population is people over the age of ____________.

65

Identify some of the factors used to divide the market in psychographic segmentation. A. Attitudes B. Interests C. Education D. Age E. Usage

A. Attitudes B. Interests

Pick out the attributes typically used to differentiate consumer groups. A. Education B. Employer C. Income D. Age

A. Education C. Income D. Age

What are some of the methods of collection for primary data? A. Focus group B. Customer comments C. The Census of Retail Trade D. Observation

A. Focus group and B. Customer comments and D. Observation

States use marketing to attract many groups. Choose the two main groups from the list that states try to attract: A. Tourists B. Government agencies C. New businesses D. Non-profits

A. Tourists and C. New businesses

Getting products to consumers when and where they are wanted is critical to market success. Many times it is the responsibility of: A. production workers B. consumers C. quality control inspectors D. intermediaries

D. intermediaries

Companies conduct market research on: A. business trends B. global trends C. ecological impact of decisions D. obsolete products

A. business trends B. global trends C. ecological impact of decisions

The B2B market includes: A. institutions B. consumers C. manufacturers D. government

A. institutions C. manufacturers D. government

Advertising, personal selling, public relations, publicity, and word of mouth are considered to be part of: A. promotion B. pricing C. place D. product

A. promotion

All of the techniques sellers use to inform people about and motivate them to bu their products or services is called: A. promotion B. branding C. labeling D. producing

A. promotion

When businesses developed mass-production techniques and capacity exceeded immediate demand, the : A. selling era began B. marketing concept era began C. economic equilibrium occurred D. production era began

A. selling era began

Which of the following are considered examples of demographic segmentation? A. by state B. by income C. by age D. by education

B. by income C. by age D. by education

A focus group is a group of people who meet under the direction of a discussion leader and: A. express their concerns about the future of the organization B. vote on important corporate issues C. offer suggestions about corporate investment opportunities D. express their opinions about an organization or product

D. express their opinions about an organization or product

The cost of producing, distributing and promoting the product will all influence the product's: A. image B. concept C. brand name D. price

D. price

The internet helps buyers in the purchasing process because customers are able to: A. eliminate the need to shop for comparison pricing B. limit their buying options geographically C. understand that all products are priced the same D. search and compare to find the best price

D. search and compare to find the best price

Information that has already been compiled by others and published in journals, boos, or online is called: A. primary data B. research data C. product data D. secondary data

D. secondary data

T/F: Data that you gather yourself, instead of from published journals, books, or online, is called secondary data.

False

T/F: Separating the market by the amount of product use is called benefit segmentation.

False

T/F: The business philosophy that emphasized selling and advertising in an effort to persuade consumers to buy existing products occurred during the production era.

False

Marketers who want to avoid incurring unnecessary expenses when researching data should first gather: A. product data B. secondary data C. primary data D. research data

B. secondary data

List four steps of the marketing research process in order from first to last. 1. Analyzing the research data 2. Defining the question 3. Collecting research data 4. Choosing and implementing the best solution

2. Defining the question 3. Collecting research data 1. Analyzing the research data 4. Choosing and implementing the best solution

When values, attitudes, and ways of doing things result from belonging to a specific ethnic, racial, or other group that one identifies closely with, it is termed a(n): A. affiliation B. subculture C. social class D. reference group

B. subculture

When using benefit segmentation, marketers must determine: A. the attitudes and values of certain segments B. how much a segment uses a product C. the product features that appeal to segments D. the age and income of certain segments

C. the product features that appeal to segments