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d. bottom-up method
89. Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh produce for
grocery stores. The firm’s marketing philosophy is:
a. consumer-oriented.
b. market-oriented.
c. production-oriented.
d. sales-oriented.
90. Oliver figured if people were willing to pay for bottled water, they would also be willing to pay for bottled air. Oliver
has forgotten that customers will buy only if they have:
a. correlated needs. b. inversely related needs.
c. unsatisfied needs. d. unrecognized needs.
91. Caution is advised when relying on blogs for secondary data because:
a. bloggers are very opinionated. b. information in blogs may not be
factually correct.
c. blogs may be outdated. d. blogs may be censored.
92. ___________ and ____________ are questioning methods that involve contact with respondents.
a. questionnaires, telemarketing b. observations, surveys
c. mystery shopping, surveys d. surveys, experimentation
93. A ____ is defined as a group of customers or potential customers who have purchasing power and unsatisfied needs.
a. consumer segment
b. target market
c. market
d. consumer market
94. Small business marketing involves a number of activities, including:
a. creating, developing, preparing, communicating, and delivering a bundle of satisfaction to a target market.
b. planning for optimal production efficiency.
c. identifying alternative technologies.
d. establishing a sales-oriented marketing philosophy.
95. The basic instrument used to guide the researcher and the respondent when surveys are taken is known as a:
a. questionnaire.
b. questioning form.
c. interview outline.
d. guide form.
96. The decision to produce flavored spring water ice cubes in response to requests from its customers reflects Norway Ice
Company’s ____ marketing philosophy.
a. production-oriented
b. sales-oriented
c. consumer-oriented
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d. response-oriented
97. At a minimum, the price of a product or service must cover:
a. the owner’s expected return on investment. b. the cost
of bringing it to customers.
c. all costs of the business plus the profit margin. d.
production and distribution costs.
98. Sullivan just bought a new pickup truck with a snow plow. He contacted the National Weather Service to get
information about snowfalls to help prepare his sales forecast. Sullivan is using:
a. primary market research. b. secondary data.
c. a surrogate variable. d. direct forecasting.
Enter the appropriate word(s) to complete the statement.
99. Marketing research can be defined as the _______, processing, interpreting, and _______ of market information.
Match the term with its definition. Not all terms will be used.
a. chain-ratio method
b. customer-oriented philosophy
c. intellectual property
d. production-oriented philosophy
e. segmentation variables
f. single-segment strategy
g. small business marketing
h. unsegmented strategy
100. Emphasizing the product as the single most important part of the business
101. A strategy that recognizes the existence of several distinct market segments but focuses on only the most profitable
segment
102. A strategy that defines the total market as the target market
103. The belief that production and sales center on the consumer and his/her needs
104. Business activities that direct the creation, development, and delivery of a bundle of satisfaction from the creator to
the targeted user
105. The parameters used to distinguish one form of market behavior from another
106. Trade secrets
a. actual product/service
b. augmented product/service
c. benefit variables
d. breakdown process
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e. buildup process
f. core product/service
g. customer-oriented philosophy
h. customer profile
107. The basic product and/or service that delivers customer benefits
108. The fundamental benefit or solution sought by customers
109. A forecasting method that begins with a large-scope variable and works down to the sales forecast
110. The basic product and/or service plus any extra or unsolicited benefits to the consumer that may prompt a purchase
111. A description of potential customers in a target market
112. A forecasting method in which all potential buyers in a target market’s submarkets are identified and the estimated
demand is added up
113. Specific characteristics that describe customers, their purchasing power, their consumption patterns, and other factors
Match the term with its definition. Not all terms will be used.
a. marketing research
b. market segmentation
c. multi-segment strategy
d. primary data
e. production-oriented philosophy
f. sales forecast
g. sales-oriented philosophy
h. secondary data
114. A prediction of how much of a product or service will be purchased within a given market during a specified time
period
115. A strategy that recognizes different preferences of individual market segments and develops a unique marketing mix
for each
116. The division of a market into several smaller groups with similar needs
117. Market information that has been previously compiled
118. The gathering, processing, interpreting, and reporting of market information
119. New market information that is gathered by the firm conducing the research.
120. An emphasis on “pushing the product” to customers
Match the term with its definition. Not all terms will be used.
a. demographic variables
b. direct forecasting
c. focus strategy
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d. indirect forecasting
e. intellectual property
f. market
g. market analysis
h. marketing mix
121. A marketing strategy in which cost-and differentiation-based advantages are achieved within narrow market
segments
122. The process of locating and describing potential customers
123. A forecasting method in which surrogate variables are used to project future sales
124. Specific characteristics that describe customers, their purchasing power, their consumption patterns, and other factors
125. A group of customers or potential customers who have purchasing power and unsatisfied needs
126. The combination of product/service, pricing, promotion, and distribution activities
127. A forecasting method in which sales is the estimated variable
128. Compare and contrast the three marketing philosophies discussed in the text. Give supporting evidence on why one
method is stronger than the others.
129. After identifying the three levels of a product and/or service’s benefit, provide an example for the US Postal Service.
130. What kind of marketing philosophy does Checkerboard employ? Give supporting examples.
131. Holley is starting a new business and is trying to forecast sales. She has owned two other businesses, one of which
was in the same industry as this new venture. Discuss the implications for forecasting for the new business. What could
she do to increase her forecasting success?
132. What are the problems with secondary data use? How can a new entrepreneur neutralize these problems?
133. Melinda, an auto insurance agent, would like to forecast the number of 16-year-olds in her county who will be
eligible to apply for driver’s licenses next year. Identify three potential sources of information and discuss the advantages
and disadvantages of each.
134. What are some of the guidelines that should be followed in developing a questionnaire?
135. What techniques are used in collecting primary data? Give examples to support the answer.
136. Define the term market and explain the key ingredients of that definition.
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Answer Key
1. True
2. True
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52. c
53. a
54. a
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103. b
104. g
105. e
106. c
107. a
108. f
109. d
110. b
111. h
112. e
113. c
114. f
115. c
116. b
117. h
118. a
119. d
120. g
121. c
122. g
123. d
124. a
125. f
126. h
127. b
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