Chapter 11: Marketing

_____ direct their efforts to customers who are buying products to use either directly or indirectly to produce other products. a. Business marketers b. Mass marketers c. Consumer marketers d. Niche marketers

a. Business marketers

In the context of consumer behavior, which of the following statements best defines cognitive dissonance? a. It is the consumer discomfort with a purchase decision, typically for a higher-priced item. b. It is the consumer perception that a good or service delivers value beyond expectations. c. It is the consumer rejection of a product on the basis of preference for a competitor's product. d. It is the consumer belief that the utility of an advertised product is low.

a. It is the consumer discomfort with a purchase decision, typically for a higher-priced item.

Which of the following statements is true in the context of actual value and perceived value? a. Marketers must help customers believe that their products are uniquely qualified to meet their needs. b. Marketers must create overly high expectations about their products to achieve customer satisfaction. c. Marketers can create perceived value for their products by setting low expectations about the products. d. Marketers do not have to create perceived value if their products have actual benefits.

a. Marketers must help customers believe that their products are uniquely qualified to meet their needs.

In the context of the marketing environment, the percentage of a market controlled by a given marketer is known as _____. a. market share b. profit margin c. market value d. market trend

a. market share

Which of the following factors is part of the product strategy in the marketing mix? a. Warehousing b. Customer service c. Shipping d. Sales promotion

b. Customer service

In the context of customer relationship management, which of the following statements is true of value? a. Loyal customers would rather switch to lower-cost competitors than pay more for a product. b. Low cost does not always mean high value. c. Setting low expectations about a product can help marketers increase its perceived value. d. Highly priced products are always thought to have high value.

b. Low cost does not always mean high value.

_____ involves gathering, interpreting, and applying information to uncover marketing opportunities and challenges. a. The marketing mix b. Marketing research c. Market penetration d. Market diversification

b. Marketing research

_____ is the creation of products tailored for individual consumers on a mass basis. a. Mass manufacturing b. Mass customization c. Mass production d. Mass marketing

b. Mass customization

The initiative "Don't drink and drive" is an example of _____. a. people marketing b. idea marketing c. place marketing d. event marketing

b. idea marketing

The tourism board of Kurania, a small country with several beautiful landscapes, recently launched an advertisement campaign using stunning visuals of the country's landscapes. This advertisement campaign illustrates _____. a. event marketing b. place marketing c. idea marketing d. person marketing

b. place marketing

In the context of the marketing era, which of the following statements best describes a marketing concept? a. It is a philosophy that believes in producing large quantities of goods as efficiently as possible. b. It is a philosophy that makes achieving economies of scale the most important goal of the organization. c. It is a philosophy that makes customer satisfaction the central focus of the entire organization. d. It is a philosophy that states that acquiring and maintaining new customers involve the same costs.

c. It is a philosophy that makes customer satisfaction the central focus of the entire organization.

_____ is a customer perception that a product has a better relationship than its competitors between the cost and the benefits. a. Disparity b. Judgment c. Value d. Dissonance

c. Value

The ultimate benefit that most businesses seek from marketing is _____. a. customer satisfaction b. value c. long-term profitability d. utility

c. long-term profitability

The first step in planning a marketing strategy is _____. a. developing a marketing mix b. environmental scanning c. market segmentation d. customer relationship management

c. market segmentation

The campaign "What happens in Vegas stays in Vegas" illustrates _____. a. idea marketing b. people marketing c. place marketing d. event marketing

c. place marketing

The blend of marketing strategies for product, price, distribution, and promotion is known as _____. a. marketing divestiture b. the market matrix c. the marketing mix d. market segmentation

c. the marketing mix

_____ is achieved when customers buy a product from the same supplier again and again—sometimes paying even more for it than they would for a competitive product. a. Customer disparity b. Customer orientation c. Customer dissonance d. Customer loyalty

d. Customer loyalty

_____ is achieved when customers perceive that a good or service delivers value above and beyond their expectations. a. Customer branding b. Customer retention c. Customer lifecycle d. Customer satisfaction

d. Customer satisfaction

_____ refers to dividing the market based on measurable characteristics about people such as age, income, ethnicity, and gender. a. Geographic segmentation b. Psychographic segmentation c. Behavioral segmentation d. Demographic segmentation

d. Demographic segmentation

_____ refers to developing and promoting environmentally sound products and practices to gain a competitive edge. a. Diversity marketing b. Cause marketing c. Scarcity marketing d. Green marketing

d. Green marketing

Lifant Technologies is in the process of launching a new cell phone. It wants to conduct marketing research on an international level. Dan, the CEO of Lifant Technologies, believes that obtaining data from multiple countries will help in identifying consumer demands and requirements accurately. However, the company is facing problems gathering the required data in a few countries where people are not receptive to foreign researchers. Which of the following approaches should Lifant Technologies adopt under such circumstances? a. It should launch the cell phones without conducting any market research. b. It should generalize the data obtained through online questionnaires and feedback forms. c. It should take a risk and proceed with international projects. d. It should hire research firms with a strong local presence to handle its international marketing research projects.

d. It should hire research firms with a strong local presence to handle its international marketing research projects.

Which of the following marketing strategies can most likely help in pursuing personal goals such as seeking a new job or getting a university admission? a. Place marketing b. Idea marketing c. Event marketing d. People marketing

d. People marketing