Marketing Ch. 1-5 Practice Tests

The nature of business-to-business markets requires ________.

A) A more personal relationship between buyer and seller B) Investment of more resources to foster and maintain personal contact C) Investment in suppliers to strengthen relationships D) All of the above All of the above is correct

An original equipment manufacturer (OEM) can buy on "best" price or may use other criteria to make purchase decisions, such as ________.

A) Product quality B) Ability to meet demand C) Just-in-time delivery schedules D) All of the above All of the above is correct

Many companies are using popular songs from the 1960s and 1970s in their advertising. When individuals, particularly baby boomers, hear that music it connects them with positive memories and the product and brand being advertised. This is because individuals are involved in ________.

Classical conditioning

Samsung operates in both the consumer and business markets. It reorganized to become more efficient and was worried about serving its business customers too well. This is a problem because Samsung's business customers are also the company's ________.

Competitors in the consumer market

________ is not a support service in the value chain.

Customer service

________ indicates the amount of interpersonal contact an individual has with the reference group.

Degree of affiliation

To remain competitive, firms collect intelligence on a number of external factors. Information related to population change is referred to as ________ information.

Demographic

Which of the following is not part of the five-stage model of consumer decision making?

Evaluation of information

Every time Tameeka pays bills for her cell phone or car insurance, services that are meaningful for her, she is practicing the central tenet of marketing called ________.

Exchange

An RFP is a document that tells suppliers prices the company is willing to pay for a product over a defined period of time.

False

McClelland's Achievement Motivation Theory suggests that people need a sense of existence and relatedness. From a marketing standpoint, creating a relationship with the customers extends the customers' satisfaction with the product, according to this theory.

False

Of all the business fields, marketing is most visible to people outside the organization.

False

One weak link in the value chain is usually not noticed by consumers.

False

Qualitative research is less structured than quantitative research, making it more useful when performing statistical analysis.

False

Value may be defined as the ratio of benefits to monetary costs.

False

When all is said and done, the business-to-business market and the business-to-consumer market are the same with respect to the consumer decision process model.

False

When consumers order a newspaper subscription, they want the paper delivered early in the morning so that they can read it before setting out for the day. It appears that newspaper publishers are offering form, time, and place utility but not ownership utility.

False

Technology has transformed the business purchase decision process. The result of this transformation is that ________.

Frontline managers are now making purchases directly

Fun Time Corp. has decided to move production of its board games for children and adults from the United States to Mexico to realize cost savings. At the same time, the company has decided to make Spanish-language versions of the games and distribute them in Central and South America. Most likely Fun Time is pursuing a strategy of ________.

Growth/concentration based on horizontal integration

When industrial firms create their product line, they attempt to ________.

Have different quality and price levels

As the marketing manager of Tiny Tire Company, you are interested in assessing whether it is possible to decrease the amount of time between customers' tire replacement services and also whether it is possible to increase average transaction amounts through add-on sales. You decide to consult your CRM system to ________ customers' current orders.

Identify the frequency and size of

The GE Business Screen dimension of market attractiveness includes all but ________.

Market share by segment

When a company is focused on uncovering needs that customers do not realize they have, it is said to be a ________ firm.

Market-driving

The CEO of Online Clothing Retailer is interested in learning about how customers navigate his company's website. He asks ABC Research to set up a tracking program that describes how customers move around the site. ABC uses ________ to collect the data.

Mechanical observation

Jennifer is looking for a new pair of running shoes. She recently viewed a TV commercial about Nike's new running shoes. Her attitude toward the ad and the product are affected by her ________.

Perceptions

All of the following are personal attributes except ________.

Personality

Data collected specifically for the research question under consideration are called ________ data.

Primary

A luxury car dealership assigns a service representative to each customer. This service rep handles all routine and emergency service appointments, writes thank-you letters, and lets the car owner know when the next service date is anticipated. This dealership has adopted a ________ approach.

Relationship orientation

Gen Y consumers are much more receptive to electronic commerce as a primary means of receiving marketing communication and purchasing than their parents and grandparents. The marketing change driver represented is ________.

Shift in generational values and preferences

The manager of ABC Brands has large amounts of data on customers, employees, suppliers, and retailers from her marketing information system. She would like to know what important insights the data hold, but she does not have the software to unlock this information. The manager should purchase ________ software.

Statistical

A beer manufacturer has noticed that the cost of hops has increased four times in the last year. A description of this would be found in the ________ SWOT analysis.

Threats

Jean-Paul uses his smartphone to check the balance in his checking account before buying concert tickets with his debit card. Jean-Paul enjoys ________ utility.

Time and place

Peter Drucker, the father of modern management, stated that the function(s) of an organization is (are) ________.

To market and to innovate

A firm with a production orientation assumes that "if you build it, they will come."

True

Buying center participants include users, gatekeepers, deciders, influencers, and initiators.

True

Credit availability, creative pricing, and new financing arrangements enable and even encourage people to engage in aspirational purchases.

True

Exploratory research is useful for clarifying the research problem so that testable hypotheses can be developed.

True

External factors such as social and cultural forces affect the consumer in the decision process.

True

Fine Hardwoods, Inc. supplies furniture and cabinet makers with mahogany, cherry, walnut, and other high-quality wood. The company should watch the housing market trends each month because sales are dependent on derived demand from the new construction and remodeling markets.

True

Focus groups bring together 6 to 10 people for an unstructured, rich discussion that is guided by a moderator.

True

Marketing research is called for when the answer to a specific problem or issue is not available from a firm's market information system or other sources.

True

Misunderstanding or making information fit existing beliefs is known as selective distortion.

True

Most products are evaluated on two dimensions—instrumental performance and symbolic performance.

True

Pro-social or purpose marketing refer to practices of socially responsible firms like Panera that incorporate doing well by doing good.

True

Some firms come close to one-to-one marketing by employing mass customization.

True

The GE Business Screen portfolio analysis uses three levels—high, medium, and low—to rank business position and market attractiveness.

True

The most important tool to develop and maintain a strong customer relationship in B2B markets is personal communication.

True