BUSN 101 Midterm Exam Review Chapter 13

Question 1

____ is a process used to test consumer reactions about a product among potential users

Accepted Answer

Test marketing

Question 2

What are the 5 ways marketers segment the consumer market?

Accepted Answer

Geographic, demographic, psychographic, benefit, volume

Question 3

A firm that uses ____ divides market into groups based on values, attitudes, and interests

Accepted Answer

psychographic

Question 4

Mass marketing leans toward custom-made goods and services.

Accepted Answer

False

Question 5

Customer Relationship era, focused on enhancing customer satisfaction and

Accepted Answer

stimulating long-term customer loyalty

Question 6

Idea behind PROMOTION is to promote a product so that

Accepted Answer

consumers know it exists

Question 7

Idea behind PLACE is to place a product where

Accepted Answer

consumers can easily find it

Question 8

Non-profit organizations are NOT involved in marketing

Accepted Answer

False

Question 9

Growth of the Internet and mobile marketing is an important trend in marketing

Accepted Answer

True

Question 10

A firm that uses ____ divides market into groups based on economy, safety and luxury

Accepted Answer

benefit

Question 11

Marketing is is the activity for ----- that have value for customers, clients, partners, and society at large.

Accepted Answer

creating, communicating, delivering, and exchanging offerings

Question 12

Marketing Concept Era, businesses recognized the need to be responsive to

Accepted Answer

customers' needs

Question 13

Production era, marketing was largely a distribution function. Emphasis was on

Accepted Answer

producing as many goods as possible and getting them to markets

Question 14

A brand name is usually though of as a part of the product

Accepted Answer

True

Question 15

Idea behind PRODUCT is to design a product

Accepted Answer

that people want

Question 16

In B2B marketing, customers follow objective standards and frequently require customization

Accepted Answer

True

Question 17

A firm gathers ___ by conducting surveys, interviews and focus groups

Accepted Answer

primary data

Question 18

A firm that uses ____ divides market into groups based on age, income, occupation, etc.

Accepted Answer

demographic

Question 19

Which is NOT true about B2B markets?

Accepted Answer

B2B markets tend to be geographically disbursed

Question 20

In B2B marketing buyers don't need to have special training and rarely buy from multiple sources

Accepted Answer

False

Question 21

What are the 4 P's of Marketing?

Accepted Answer

Product, Price, Place Promotion

Question 22

Idea behind PRICE is to price a product

Accepted Answer

competitively

Question 23

Environmental scanning is the process of identifying

Accepted Answer

factors that can affect marketing success

Question 24

Setting prices higher than competitors can help create an image of quality

Accepted Answer

True

Question 25

Selling era, the emphasis turned to selling and advertising to

Accepted Answer

persuade customers to buy the existing goods produced by mass production

Question 26

Contacting customers after they made a purchase to reassure them they made the right decision is intended to offset

Accepted Answer

Cognitive dissonance

Question 27

Options below are three parts of the marketing concept EXCEPT

Accepted Answer

company orientation

Question 28

Which is NOT 1 of the 4 steps of Marketing Research?

Accepted Answer

Picking a target market

Question 29

The following are parts of the marketing environment EXCEPT

Accepted Answer

informational

BUSN 101 Midterm Exam Review Chapter 13

Questions 29

BUSN 101 Midterm Exam Review Chapter 13

Questions 29