Which of the following would be considered when discussing the marketing mix variables?
a) Minimizing the financing cost of producing the product.
b) Determining production schedules.
c) Setting a price for the product.
d) Financing the acquisition of new machinery.
As Mac and Zach explore the possibility of starting a youth sports academy, they collect demographic and lifestyle information about the families who would potentially buy their service. This exercise will help to better identify their ________.
a) ability to become good business persons
b) target market
c) affinity for the business world
d) product offering
The increase in the number of older Americans has created a growing demand for nursing homes, health care, continuing education and more. This is as a result of the changes in the ____________ factors in the environment.
Which of the following products would be considered as part of the business-to-business market?
a) pens and pencils for that student
b) classes at a university for a college freshman
c) a computer for the instructor to use while teaching the class
d) books for the class members
Mac and Zach want to start their own youth sports academy aiming to teach baseball skills to young boys. Which of the following steps in the marketing process is a good place to begin?
a) Find out what young baseball players want to achieve and what’s important to them.
b) Create the pricing structure for their new idea.
c) Locate a building that is centrally located.
d) Design the product and service they plan to offer.
Recently, Mac and Zach’s Youth Sports Academy has had several inquiries about girls’ softball. While scanning the ____________ environment in their service area, they become aware of the growing importance of girls’ sports, and particularly girls’ softball. Girls’ softball received a boost in their local market when the high school team won the state championship. Mac and Zach are seriously considering expanding their operation to include softball skill lessons for young girls.
Once Mac and Zach have a better understanding of the kinds of baseball skills that local youth want to acquire, they can begin to prepare the ________________.
a) break-even zone
b) legal verification documents
c) marketing mix
d) certification process
Marketing is as much about helping sellers sell products and services, as it is about __________.
a) examining the returns on investment
b) costing those products and services
c) helping buyers buy
d) organizing the business for productivity
Marketing strategies for the business-to-business market:
a) are basically similar to the consumer market, because business buyers are also consumers.
b) differ from consumer marketing strategies because the nature of the buyers is different.
c) are not concerned with relationship marketing techniques.
d) are concerned with the same types of purchasing influences as those in the consumer market.
When Sun-2-Shade needed some information about the potential market for their product, the marketing team looked to the Internet to find industry trends, and at the market for eyewear products, which uses the same technology that is used in their self-darkening windshield. The type of information the marketing team was using is referred to as:
b) secondary data.
c) focus groups.
d) primary data.
Up until now, Mac and Zach’s Youth Sports Academy has served the ____________ market. Just recently, the local high school contacted them inquiring about practice space for boys’ baseball and girls’ softball during bad weather. If they negotiate a contract with the high school, they will also be serving the ___________ market.
a) B2B; consumer
b) consumer; B2B
c) female softball; boys’ baseball
d) sociocultural; competitive
Through environmental scanning, marketers can learn new ways to reach prospective customers. As they scan the _____________ environment, Mac and Zach hope to buy the most state-of-the-art mechanical pitching arms for their youth sports academy.
When Maritza Toros opened her Mexican restaurant in a fashionable suburb of Kansas City, she believed that the most important element of her success would be promotion. She made sure that a significant portion of her budget was devoted to advertising in local papers, sent out coupons and really focused on the promotional aspects of the restaurant. Which of the four eras of marketing does it seem that Maritza emphasized?
c) Customer relationship management
Two baseball leagues in the city, where Mac and Zach plan to open their sports academy, agreed to allow them to distribute an e-mail survey to their league players. In order to capture this opportunity, Mac quickly put together a set of 15 questions that inquire about the type of skills (batting, pitching, fielding, running) that league players want to develop. The survey and subsequent information this research would glean is called ________________ data.
a) focus group
When McDonald’s considered adding pizza to their menu, the company made pizza available in some of their more established markets, to determine customer reactions. That process is called:
a) concept coordination.
c) test marketing.
Market segmentation is about dividing the total market for a product or service into groups with similar characteristics and needs. Marketers often divide the total market for their products and services demographically, either by age, education, or income level. If they wanted to know if all 18-year-olds in their market had similar TV show and movie interests, their inquiry would also focus on _____________ segmentation.
After one year of operation, Mac and Zach learned that several enthusiastic baseball players were driving to a larger town to receive similar services. In order to learn about the potential customers who were going elsewhere for service, Mac and Zach proceeded to look online to determine how competitors’ services differed from theirs. They learned that competitors were open longer hours on weekends, and even had celebrity endorsements. The new information they gathered, and its interpretation was the _______________ part of the marketing research process.
a) data gathering
c) creation of the research questions
d) venture finding
What is the first step in the marketing research process?
a) Analyzing data
b) Develop and establishing potential solutions
c) Defining the problem
d) Collecting data
Lauren is heading home from work and realizes she forgot to buy cat food during her lunch hour. As she navigates the traffic, she tries to decide where it will be most convenient to stop. She could go to the large discount store, which would give her the best price, but the lines are usually long after work. There are a couple of convenience stores on her route, but she isn’t certain they will have her cat’s brand. The grocery store is no better than the discount store after work. She settles on one of the drug store chains that also has just about everything. It is larger than the convenience stores, but never as crowded as the grocery store or discount store. In terms of consumer behavior, _____________ influences have guided Lauren’s decision.
b) cognitive dissonance
d) reference group
Focusing on long-term customer loyalty is called ____________.
a) customer relationship management
b) customer linkage marketing
c) customer care processes
d) promotional marketing
Business-to-business (B2B) customers _________________.
a) tend to be geographically dispersed, rather than concentrated
b) are more numerous compared to consumer customers
c) never require personal selling, as do consumers
d) tend to be more rational in their decision making than individual consumers
Marketers constantly require good information if they are to meet or exceed their customers’ expectations. When performing marketing research, Mac and Zach’s first step is to:
a) determine the type of information (the question) they are seeking to solve.
b) collect research data from secondary and primary sources.
c) cross-tabulate the data into quantifiable statements.
d) analyze any data they receive from outside sources.
The idea behind the marketing concept is ___________.
a) building satisfying relationships between buyers and sellers, even if some years the seller experiences losses
b) a mutually beneficial exchange between buyers and sellers, where buyers receive quality products and good service, and sellers realize a profit
c) increasing productivity, by creating innovative products and producing as much as possible, in a short amount of time
d) understanding how to sell each and every product available, in a transactional type environment
a) consumers who are in the middle of the consumer decision-making process.
b) social service agencies responsible for evaluating the ethical considerations involved in developing a new product.
c) companies responsible for developing products to sell to businesses.
d) organizations that are in the middle of a series of organizations that distribute goods from producers to consumers.
At one time, companies developed products and promotions to please large groups of people, and tried to sell as many products to as many people as possible. This is known as:
a) forming a community of buyers.
b) a consumer orientation.
c) mass marketing.
d) relationship marketing.