Intro to business chapter 13 test

H2 O’Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market. Although consumer response was positive to the idea of the new product, management wants to find out more before committing to full-scale production. The next step H2 O’Yeah’s marketing department is likely to take is to:
Test market the product among potential users
After years of selling in the consumer market, Dave accepted a job as a salesperson for a firm that markets its products in the B2B market. As he considers his new responsibilities, it’s likely that he will:
learn that industrial buyers generally require more personal service than buyers in the consumer market.
Which of the following is the best example of a market?
senior citizens willing and able to cruise to the Bahamas
In an effort to increase profits, Yen Ching Chinese restaurant is attempting to appeal to a specific segment of the market by offering an all-you-can-eat buffet. These efforts, designed to identify specific groups that can be profitably served, represent an example of:
target marketing.
Which of the following represents an example of demographic segmentation?
An automobile manufacturer offers different types of cars designed to appeal to different age groups and income levels.
Which of the following statements is most consistent with today’s views on effective marketing?
“Learn about your customers and exceed their expectations.”
Consumer decisions regarding the products they buy are often influenced by their nationality, religion, or ethnic origin. Marketers realize that the consumer decision-making process is impacted by the consumers’:
subcultures
Which of the following would be considered part of a firm’s marketing mix?
determining the best pricing strategy for a product
As a marketing manager for Kitch-It-Tools, Jim is frustrated with the way his organization markets their kitchen utensils. Currently Kitch-It-Tools utilizes a strategy aimed towards the largest possible number of people, relying heavily on television and radio advertising. Jim complains that the firm is not listening to its customers and is in danger of losing many of them to firms that create a personal dialogue with their buyers. Presently Kitch-It-Tools practices:
mass marketing
Which of the following is considered a step in the marketing research process?
defining the question and determining the present situation
Firms adopting a relationship marketing strategy view technology as a(n):
increased opportunity to personalize marketing campaigns to meet customer needs.
Bob has the responsibility for product development, pricing, promotion, and distribution of Hi Vee Vitamins for children. Bob’s job would NOT involve:
pollution control
Which of the following correctly identifies the motivation of firms using a market segmentation strategy?
With limited resources, firms can better satisfy the wants and needs of a smaller target market
Roberto Martinez is a marketing manager for Friendly Financial Services. He has been looking at a variety of factors, such as technological, sociocultural, and economic trends as well as competitive conditions. Martinez is confident that these factors will impact Friendly’s future marketing success. His efforts are an example of:
environmental scanning.
Nature’s Sun, a company that designs and manufactures clothing for active people, focuses their marketing efforts on people who participate in strenuous outdoor activities such as running and mountain climbing. For example, the firm advertises heavily in magazines for runners. Nature’s Sun is using _________ factors to segment its market.
psychographic
Compared to consumer markets, B2B markets:
rely less on marketing intermediaries.
Comparing the business practices of the 1950s to those of today indicate that today’s marketing managers:
have a more ambitious goal of not just satisfying customers, but of exceeding their expectations.
Which of the following is considered a step in the marketing research process?
defining the question and determining the present situation
Susan purchased an expensive new automobile four months ago after struggling to choose between a Cadillac and a Lexus. Even now, after purchasing the Lexus, she wonders if she made the right choice. Susan is experiencing:
cognitive dissonance