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Chapter 13 - Marketing: Helping Buyers Buy
142. Which of the following statements is most consistent with today's views on effective
marketing?
A. "There's a sucker born every minute."
B. "Find out what your competition does and do it better."
C. "A good promotional campaign can sell anything."
D. "Learn about your customers and exceed their expectations."
Feedback: Since the 1990s, marketing has focused on developing a relationship with
customers by learning as much as possible about their wants and needs. Today marketers try
to enhance customer satisfaction and stimulate long-term customer loyalty.
143. Comparing the business practices of the 1950s to those of today indicate that today's
marketing managers:
A. have a more ambitious goal of not just satisfying customers, but of exceeding their
expectations.
B. are much more focused on production and mass marketing.
C. put less emphasis on earning a profit, since doing so makes it harder to satisfy the
needs of the firm's stakeholders.
D. operate essentially the same as their predecessors.
Feedback: Today, firms are trying to go beyond satisfying customers by forging close
relationships with customers to provide products that exactly meet their requirements and a
level of service that both surprises and pleases them.
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165. As a marketing manager for a retailer of lighting products, Lucinda will likely be
involved in which of the following?
A. setting a price for the light fixtures her firm produces
B. deciding the best way to hire new employees to produce the lights
C. developing ideas for new ways to produce the lights
D. determining the best way to finance the purchase of new production equipment
Feedback: Marketing managers deal with the 4 Ps: product development, pricing, place
(distribution) and promotion, thus Lucinda will likely be involved in setting a price for the
light fixtures her firm produces.
166. Which of the following tasks would be included in the marketing mix?
A. evaluating various distribution alternatives to determine the best way to get the product
to the consumer
B. examining various sources of funds to determine the best way to finance an expansion
of the organization's production facilities
C. assigning tasks to specific workers on specialty product assembly lines
D. developing financial statements based on the sales transactions of the firm during a
specific time period
Feedback: One of the 4 Ps in the marketing mix is place, which refers to the best way to get a
good or service to the consumer.
167.
Chapter 13 - Marketing: Helping Buyers Buy
Which of the following is part of the marketing process?
A. developing an understanding of company finances available for new products
B. determining an appropriate brand name for a new product
C. designing the most efficient method of production of a new product
D. contacting suppliers after a purchase to ensure producer satisfaction
Feedback: Determining the brand name for a new product is part of the marketing process.
168. The future for e-commerce is banking on the fact that “friends” have similar likes and
even similar buying habits! According to the Social Media in Business box featuring the
story “Calling All Businesses”:
A. Most companies are going to have to choose a business model for distributing their
goods, and stick with it. It’s either got to be traditional stores or online shopping, but not
both, if they want to do it well.
B. For some companies, mobile phone purchases have already become a billion-dollar
business. In order to survive, small businesses must also align themselves with mobile
platforms.
C. There is a quiet trend emerging, where customers are going back to what recent
shoppers consider traditional means to obtain goods. People just aren’t buying processed
foods or clothing any longer.
D. Buy America and buy organic has put a halt on online shopping.
Feedback: Small and large business marketers are turning their attention to social media as an
important strategy for reaching customers. Online shopping has advanced to mobile phone
shopping, to the tune of several billion dollars. Small businesses are learning how to create
mobile platforms for their businesses.
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173. With help from the marketing department, engineers at Easy Electronics have
designed a new type of cable modem that is easier to install in computers and more
reliable than any cable modems currently in use. The marketing managers want to find a
way to identify the new modem in the minds of consumers and differentiate it from less
sophisticated products made by Easy's competitors. An important part of this effort is
likely to be the selection of a __________ for the new modem.
174. Which of the following terms involves the analysis of markets to identify
opportunities and challenges?
A. market analysis
B. marketing research
C. opportunity identification
D. market prospecting
175.
Chapter 13 - Marketing: Helping Buyers Buy
Successful marketing researchers:
A. focus their efforts on determining historical needs of customers, since the core value of
marketing is that the customer needs don't change.
B. develop as much information as possible from primary sources.
C. listen to customers and other stakeholders.
D. rely on their experience and personal opinions when making decisions.
176. The first step in the marketing research process is to:
A. define the problem and determine the present situation.
B. collect relevant data from primary and secondary sources.
C. analyze the research data.
D. decide upon the best ethical solution.
177. A firm gathers ___________ data by conducting surveys, interviewing customers, or
mailing out questionnaires.
A. primary
B. secondary
C. non-referenced
D. unbiased
