Question 1

Trying to determine customers' true needs is difficult because no one fully understands what motivates people to buy things.

Accepted Answer

A) True 
 B)False

Question 2

Highland Green is a group of luxury hotels that caters exclusively to high-end customers who form a small part of the market.The hotel has incorporated all possible luxuries to satisfy these customers.The marketing approach employed by Highland Green best exemplifies:

Accepted Answer

A)  niche marketing.
B)  multi-segment marketing.
C)  mass marketing.
D)  the total-marketing approach.
E)  the contingency approach.F) None of the above
G) B) and D)

Question 3

In which of the following scenarios is a business least likely to survive?

Accepted Answer

A)  When a business continually alters,adapts,and develops products to keep pace with changing customer needs and wants
B)  When a business finds out what consumers desire and then develops goods,services,or ideas accordingly
C)  When a business views customer's perception of value as the ultimate measure of work performance and improving value
D)  When a business focuses only on customer satisfaction and not on its own objectives such as boosting productivity
E)  When a business sells ideas,benefits,philosophies,and experiences-not just goods and servicesF) C) and D)
G) None of the above

Question 4

A market orientation requires organizations to:

Accepted Answer

A)  make the products first and then try to persuade customers that they need them.
B)  focus exclusively on sales to increase profits.
C)  engage in price fixing activities with competitors.
D)  gather and use customer information to help build long-term relationships with customers.
E)  employ the product cannibalization strategy.F) C) and D)
G) A) and B)

Question 5

Specific laws require that advertisements be truthful and that all health claims be documented.This is an example of:

Accepted Answer

A)  legal forces.
B)  social forces.
C)  technological forces.
D)  economic forces.
E)  competitive forces.F) A) and C)
G) B) and E)

Question 6

For greater accessibility,Hakin Inc.has placed its products at every popular superstore.The convenience provided by the company is an example of:

Accepted Answer

A)  nonmonetary costs.
B)  tangible costs.
C)  variable costs.
D)  fixed costs.
E)  overhead costs.F) A) and D)
G) All of the above

Question 7

In businesses,the _____ is an important variable-often the central focus-of the marketing mix,based on which the other variables are adjusted.

Accepted Answer

A)  price
B)  distribution
C)  promotion
D)  product
E)  processF) C) and D)
G) A) and D)

Question 8

Which of the following is a basis for the psychographic segmentation of markets?

Accepted Answer

A)  Religion
B)  Income
C)  Education
D)  Lifestyle
E)  GenderF) A) and E)
G) B) and D)

Question 9

In the _____ to market segmentation,a company develops one marketing strategy for a single market segment.

Accepted Answer

A)  mass market approach
B)  total-market approach
C)  differentiated approach
D)  multi-segment approach
E)  concentration approachF) A) and B)
G) A) and C)

Question 10

At the heart of all business is the_____,the act of giving up one thing in return for something else.

Accepted Answer

A)  collusion
B)  marketing strategy
C)  manipulation
D)  exchange
E)  risk managementF) A) and B)
G) C) and E)

Question 11

Which of the following is most likely the primary focus of a business that adopts a market orientation?

Accepted Answer

A)  Limiting marketing activities to the marketing department
B)  Using advertising and personal selling to persuade customers
C)  Mass producing goods and services to increase profits
D)  Attracting new customers rather than retaining the current ones
E)  Building long-term relationships with customersF) A) and B)
G) B) and C)

Question 12

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

Accepted Answer

A)  market
B)  focus group
C)  command group
D)  target market
E)  market segmentF) A) and B)
G) A) and D)

Question 13

During the first half of the 20th century,the marketing activities were primarily concentrated around:

Accepted Answer

A)  personal selling.
B)  product customization.
C)  efficient production.
D)  mass production.
E)  predatory pricing.F) B) and E)
G) A) and B)

Question 14

A _____ refers to a specific group of consumers on whose needs and wants a company focuses its marketing efforts.

Accepted Answer

A)  market
B)  focus group
C)  target market
D)  mass market
E)  stable marketF) B) and C)
G) All of the above

Question 15

Which of the following requires organizations to gather information about customer needs,share that information throughout the firm,and use it to help build long-term relationships with customers?

Accepted Answer

A)  Quality orientation
B)  Production orientation
C)  Sales orientation
D)  Market orientation
E)  Competitor orientationF) A) and C)
G) C) and D)

Question 16

Which of the following best exemplifies regulatory forces in a marketing environment?

Accepted Answer

A)  Computers and technological advances in a country
B)  Opinions and attitudes of the public
C)  Economic conditions in a country
D)  Purchasing power of people
E)  Political actions of interest groupsF) B) and D)
G) A) and D)

Exam 11: Customer-Driven Marketing

Which of the following requires organizations to gather information about customer needs,share that information throughout the firm,and use it to help build long-term relationships with customers?

Correct Answer
verified

Which of the following best exemplifies regulatory forces in a marketing environment?

Correct Answer
verified

Highland Green is a group of luxury hotels that caters exclusively to high-end customers who form a small part of the market.The hotel has incorporated all possible luxuries to satisfy these customers.The marketing approach employed by Highland Green best exemplifies:

Correct Answer
verified

In businesses,the _____ is an important variable-often the central focus-of the marketing mix,based on which the other variables are adjusted.

Correct Answer
verified

Which of the following is a basis for the psychographic segmentation of markets?

Correct Answer
verified

A _____ refers to a specific group of consumers on whose needs and wants a company focuses its marketing efforts.

Correct Answer
verified

Specific laws require that advertisements be truthful and that all health claims be documented.This is an example of:

Correct Answer
verified

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

Correct Answer
verified

Which of the following is most likely the primary focus of a business that adopts a market orientation?

Correct Answer
verified

Trying to determine customers' true needs is difficult because no one fully understands what motivates people to buy things.

Correct Answer
verified

In the _____ to market segmentation,a company develops one marketing strategy for a single market segment.

Correct Answer
verified

In which of the following scenarios is a business least likely to survive?

Correct Answer
verified

A market orientation requires organizations to:

Correct Answer
verified

During the first half of the 20^th century,the marketing activities were primarily concentrated around:

Correct Answer
verified

For greater accessibility,Hakin Inc.has placed its products at every popular superstore.The convenience provided by the company is an example of:

Correct Answer
verified

At the heart of all business is the_____,the act of giving up one thing in return for something else.

Correct Answer
verified

Exam 11: Customer-Driven Marketing

Which of the following requires organizations to gather information about customer needs,share that information throughout the firm,and use it to help build long-term relationships with customers?

Correct AnswerverifiedShow Answer

Which of the following best exemplifies regulatory forces in a marketing environment?

Correct AnswerverifiedShow Answer

Highland Green is a group of luxury hotels that caters exclusively to high-end customers who form a small part of the market.The hotel has incorporated all possible luxuries to satisfy these customers.The marketing approach employed by Highland Green best exemplifies:

Correct AnswerverifiedShow Answer

In businesses,the _____ is an important variable-often the central focus-of the marketing mix,based on which the other variables are adjusted.

Correct AnswerverifiedShow Answer

Which of the following is a basis for the psychographic segmentation of markets?

Correct AnswerverifiedShow Answer

A _____ refers to a specific group of consumers on whose needs and wants a company focuses its marketing efforts.

Correct AnswerverifiedShow Answer

Specific laws require that advertisements be truthful and that all health claims be documented.This is an example of:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is most likely the primary focus of a business that adopts a market orientation?

Correct AnswerverifiedShow Answer

Trying to determine customers' true needs is difficult because no one fully understands what motivates people to buy things.

Correct AnswerverifiedShow Answer

In the _____ to market segmentation,a company develops one marketing strategy for a single market segment.

Correct AnswerverifiedShow Answer

In which of the following scenarios is a business least likely to survive?

Correct AnswerverifiedShow Answer

A market orientation requires organizations to:

Correct AnswerverifiedShow Answer

During the first half of the 20th century,the marketing activities were primarily concentrated around:

Correct AnswerverifiedShow Answer

For greater accessibility,Hakin Inc.has placed its products at every popular superstore.The convenience provided by the company is an example of:

Correct AnswerverifiedShow Answer

At the heart of all business is the_____,the act of giving up one thing in return for something else.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

During the first half of the 20^th century,the marketing activities were primarily concentrated around:

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified