92. (p. 362) Selecting which groups an organization can serve profitably is called target marketing.
93. (p. 362) With careful attention to controlling costs and quality, businesses can successfully satisfy consumers
with a standardized product for different markets.
94. (p. 362) Target marketing is a business strategy that focuses a firm’s marketing efforts towards a potentially
profitable segment of a larger market.
95. (p. 362) Because consumers differ in age, educational level, income, and tastes, firms will be more likely to
succeed if they target a segment of a market and develop goods and services specially tailored to that group.
96. (p. 364) Firms developing products for a narrow segment of a market are less likely to profitably satisfy that
group’s needs.
97. (p. 363, figure 13.6) Demographic segmentation divides a market into segments based on the customer’s location.
98. (p. 364) Psychographic segmentation involves dividing a market into segments based on lifestyle, values,
attitudes, or interests.
99. (p. 364) Separating a market by the amount of the product consumed is known as volume segmentation.
100. (p. 364) The strategy of focusing on small but profitable market segments is called micro marketing.
101. (p. 364) One-to-one marketing refers to developing a unique mix of goods and services for each individual
customer.
102. (p. 364) Travel agencies demonstrate a one-to-one marketing strategy when they develop unique vacation
packages for individual customers.
103. (p. 364) One-to-one marketing is seldom used in B2B markets.
104. (p. 364) Mass marketing means developing products and promotions using little segmentation.
105. (p. 365) A basic principle of relationship marketing is that firms should concentrate on producing and
promoting products that appeal to large groups of people.
106. (p. 364) Relationship marketing makes heavy use of media such as television, radio and newspapers, to
convince large groups of customers to buy a standardized product.
107. (p. 365) Relationship marketing moves away from mass production and toward custom-made goods and
services.
108. (p. 365, Spotlight on Small Business box) Customer relationship management is more concerned with retaining old
customers than with creating new ones.
109. (p. 365) Firms adopting a relationship marketing strategy often establish a database of information about each
customer.
110. (p. 365) Relationship marketing depends on understanding individual consumers and responding quickly to
their wants and needs.
111. (p. 366) Consumer behavior is influenced by the attitudes, values, and ways of doing things that are passed
from one generation to the next.
112. (p. 366) The set of values, attitudes, and ways of doing things that result from belonging to a certain ethnic,
religious, or racial group is called that group’s cognitive dissonance.
113. (p. 366) Learning involves changes in an individual’s behavior resulting from previous experiences and
information.
114. (p. 366) A reference group is the group of values, attitudes, and ways of doing things that consumers have.
115. (p. 367) Cognitive dissonance refers to the confusion and frustration people experience when they compare
different products before making a purchase.
116. (p. 364) In order to be successful, marketers avoid small market segments in favor of larger targets.
117. (p. 362) The purpose of market segmentation is to identify the features of a product that will appeal to as
many customers as possible.
118. (p. 365, Spotlight on Small Business box) According to the “Spotlight on Small Business” box in Chapter 13, Zane’s
Cycle shop uses a customer database to help predict when customers may want to buy additional products.
119. (p. 365, Spotlight on Small Business box) Maintaining databases of customer information is more important for firms
involved in mass marketing than it is for those firms using relationship marketing.
120. (p. 365) Melanie is a sales representative for a college textbook publisher. She spends a great deal of time
visiting college professors who have already adopted one of her books. She makes sure they have all the
supplements they need and are informed about when new editions will be available. Melanie’s emphasis on
keeping her existing customers satisfied is consistent with the philosophy of relationship marketing.
121. (p. 365) Top management at Prinze Auto Sales has decided to replace their traditional marketing approach
with an approach that emphasizes relationship marketing. Under this new approach, Prinze’s salespeople will be
expected to devote a much larger share of their time to the search for new customers.
122. (p. 365) Click Computers has established a website where its customers can get the latest information about
the company’s products, offer suggestions about improving products and service, and contact technical support
via e-mail. The company has even added a chat room that allows customers to communicate with each other.
Click’s approach indicates that it is trying to utilize relationship marketing.
123. (p. 366) Culture is difficult for marketers to integrate into their analysis of consumer wants because cultural
values tend to change radically from one generation to the next.
124. (p. 367) Jason bought an expensive new sports car last week. Immediately after the purchase, he worried that
he paid too much, and that a less expensive model with better gas mileage would have been a wiser choice.
Marketers refer to the doubts Jason is experiencing as post-purchase stress syndrome.
125. (p. 366) LaShawna has always been fascinated by movie stars and others in the entertainment industry. She
often changes her dress, speech, and mannerisms in response to the latest trends in Hollywood. When big name
stars publicly support a social cause, she tends to support it as well. LaShawna’s behavior suggests that people
in show business are an important reference group for her.
126. (p. 364) In general, the broader the market a firm tries to serve, the better its chances of success.
127. (p. 367) B2B marketers include manufacturers, retailers, hospitals, and the government.
128. (p. 367) The B2B market involves few trades and less dollars than the consumer market because there are so
many more consumers than there are businesses.
129. (p. 367-368) Marketing strategies used effectively in the business-to-business markets are the same as
strategies used by marketers in consumer markets.
130. (p. 368) In business-to-business markets, sellers rely on wholesalers and retailers to efficiently distribute their
products.
131. (p. 368) The number of customers in business-to-business markets is quite large compared to the number of
customers in the consumer market.
132. (p. 368) Buyers in the B2B market tend to make rational decisions.
133. (p. 368) There is much more emphasis on personal selling in the consumer markets than in the B2B markets.
134. (p. 368) Business-to-business markets tend to be geographically concentrated.
135. (p. 369) Advertising, public relations and product management are some of the careers available to a
marketing major.
136. (p. 368, figure 13.8) Jose has accepted a sales position at Business Solutions Corporation. Prior to this job, Jose
worked in the electronics department of a retail store selling personal computers to consumers. In his new job at
Business Solutions, Jose will sell personal computers to businesses. Despite the fact that the products sold to
these two customer groups are quite similar, Jose is likely to find that purchasing decisions by buyers in the two
markets will be influenced by different factors.
137. (p. 368) Marketing goods and services to the B2B market relies more heavily on advertising than marketing
efforts aimed toward the consumer market.
138. (p. 369) While most students find marketing an interesting and meaningful subject, one drawback of majoring
in marketing is that it prepares students for only a narrow range of career options.
139. (p. 350) ________ is the process of planning and executing the conception, pricing, promotion, and
distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives.
A. Selling
140. (p. 350) Which of the following refers to the time period from our country’s first settlers through the early
1900s?
D. customer relationship era
141. (p. 350) The business philosophy of “produce as much as you can because there is a limitless market” is
D. customer relationship era
D. production and storage.
143. (p. 350) Which of the following describes the time period immediately after the development of mass
production assembly lines?
144. (p. 350) During the ________ era, the prevalent business philosophy turned from an emphasis on production
to an emphasis on selling.
D. customer relationship
145. (p. 350-351) The significant increase in consumer demand following World War II marked the beginning of
the:
A. production era.
146. (p. 351) The __________ is based on three elements: (1) a customer orientation, (2) a service orientation, and
(3) a profit orientation.
A. mercantile philosophy
147. (p. 351) According to the _________ concept, a firm must (1) find out what customers want and provide it,
(2) make sure everyone in the organization has customer satisfaction as an objective, and (3) provide goods and
services that will earn a profit.
A. stakeholder relationship
148. (p. 352) Firms that have adopted _________ seek to do more than simply sell a product; they seek to learn as
D. the marketing mix
149. (p. 352) A ___________ orientation refers to the process of determining the wants and needs of customers
and then providing goods and services to meet or exceed their expectations.
A. market
150. (p. 351) Which of the following is a part of the marketing concept?
D. emphasis on efficient production
151. (p. 351) Which of the following statements is most consistent with today’s views on marketing?
A. “There’s a sucker born every minute.”
152. (p. 351) Comparing the business practices of the 1950s to those of today indicate that today’s marketing
managers:
D. operate essentially the same as their predecessors.
153. (p. 351) Which of the following statements about marketing is most accurate?
A. Because nonprofit organizations are not motivated by profit, marketing activities are not consistent with their
goals.
154. (p. 351) A key element of customer relationship management is to:
A. keep the price of goods as low as possible.
155. (p. 351) A comparison of the marketing concept and customer relationship management indicates that
customer relationship management:
A. and the marketing concept are identical.
156. (p. 351) As the campaign manager for a candidate for the U.S. Senate, Pete works to learn as much as
possible about potential voters. With this information, he hopes to focus the campaign on the issues most
important to voters. This represents:
D. an extension of the profit orientation to a nonprofit organization.
157. (p. 354, figure 13.3) While the four Ps help us remember the basics of the __________, they don’t include
everything that goes into the marketing process.
D. competitive benchmarking process
158. (p. 352) A firm’s marketing mix consists of 4 major components, which are sometimes called the four:
D. components of a SWOT analysis.
159. (p. 352) A firm’s marketing mix refers to the combination of:
A. goods the firm offers to different market segments.
160. (p. 354) Marketers define a ________ as any physical good, service, or idea that satisfies a want or need.
D. concept test
161. (p. 354) Which of the following describes a process in which marketers present an accurate description of a
new product to potential customers and ask if they find the idea appealing?
D. competitive benchmarking
162. (p. 354) A ___________ is a process used to test consumer reactions among potential users.
A. pro forma brand
163. (p. 354) Which of the following describes a word, letter, or group of words or letters that differentiate the
goods and services of a seller from those of competitors?
D. generic name
164. (p. 354, figure 13.3) The last step in the marketing process often includes:
A. collecting the cash from sales to consumers.
165. (p. 355-356) __________ consists of all the techniques sellers use to persuade consumers to buy their goods
and services.
D. Closing
166. (p. 352) Which of the following would be considered part of a firm’s marketing mix?
D. designing the most efficient production plan
167. (p. 352) As a marketing manager for a retailer of lighting products, Lucinda will likely be involved in which
of the following?
D. determining the best way to finance the purchase of new production equipment
168. (p. 360, Reaching Beyond Our Borders box) According to the “Reaching Beyond Our Borders” box in Chapter 13, one
issue encountered in selling goods and services globally is that:
A. firms should account for different currencies used by different countries.
169. (p. 355) Which of the following tasks would be included in the marketing mix?
D. developing financial statements based on the recorded transactions of the firm during a specific time period
170. (p. 354, figure 13.3) Which of the following is part of the marketing process?
D. contacting suppliers after a purchase to ensure producer satisfaction