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Exam 12: Marketing and Consumer Behavior

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Question 31

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The marketing concept changed the focus from finding the right customer for a product to producing the right product for a customer and doing it better than the competition by specifically focusing on all of the following EXCEPT ________.

A) realizing a profit by satisfying customers over the long term
B) creating one product designed to meet the needs of all customers
C) aligning all functions of the organization to meet or exceed customer needs
D) identifying customer needs before the product is designed and produced

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Question 32

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Once an organization has performed a complete situational analysis, including an evaluation of its internal strengths and weaknesses and the external opportunities and threats of the market environment, then it is ready to ________.

A) do market research
B) expand sales over the Internet
C) select its target market
D) perform an audit of the organization's execution of its marketing mix

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Question 33

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When competition for customers became more intense during the Sales Concept Era, businesses began to ________.

A target market is a group of people who have completed surveys, questionnaires, or other response forms and have indicated an interest in the production of a new product.

Social media sites such as Facebook and Twitter are unreliable sources of market research data because few customers use such sites to discuss business issues.

Marketing managers are responsible for making decisions about the marketing mix (the blend of the four Ps).

Marketing is an ongoing process of tweaking a business to satisfy customers in order to ensure quality, value, and repeat business.

How do employees benefit from successful marketing?

Marketers need to be aware of cultural and social differences before launching their products and campaigns.

The value of a product equals the ratio of the product's benefits to its costs.

The middlemen in a distribution channel are sometimes called ________.

Market segmentation based on consumer characteristics such as benefit sought, brand loyalty, price sensitivity, and how a product is used are examples of what type of consumer market segmentation?

Name and provide a brief description of the 4 Ps of marketing.

The main function of marketing is

What are the five steps in the consumer buying process?

During which era did businesses switch their focus to place special emphasis on pleasing customers after the sale?

In a "seller's market" ________.

"Place marketing" refers to the significance of good placement of print, television, and Web site ads in order to generate the best response rate.

Which of the following is NOT a promotional method used to inform and persuade targeted customers to buy a product?

Unlike geographic variables, variables based on customer lifestyles, personality traits, motives, and values can be manipulated by the efforts of sophisticated marketers.