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Exam 14: Marketing: Building Customer and Stakeholder Relationships

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Question 21

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Effective marketing research involves listening to customers,employees,shareholders,and other stakeholders.

A) True
B) False

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Question 22

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Which of the following tasks would be included in the marketing mix?

A) Evaluating various distribution alternatives to determine the best way to get the product to the consumer.
B) Examining various sources of funds to determine the best way to finance an expansion of the organization's production facilities.
C) Assigning tasks to specific workers on an assembly line.
D) Developing financial statements based on the recorded transactions of the firm during a specific time period.

E) C) and D)
F) A) and D)

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Question 23

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The final step of the marketing research process involves selecting the best from several alternative strategies,and performing follow-up research to see if results were as expected.

A basic principle of relationship marketing is that firms should concentrate on producing and promoting products that appeal to large groups of people.

The business philosophy of "produce as much as you can because there is a limitless market" is consistent with which of the following?

All of the following are considered steps in the marketing research process except:

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.

The two major types of markets are the:

Click Computers has established a web site 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 to develop a community of buyers.

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.

A key element of customer relationship management is to:

During the early 1900s,businesses emphasized learning as much as possible about their customers and doing everything to satisfy them.

Providing people with a description of a potential new good or service and asking if the idea appeals to them,is part of the marketing mix.

Cognitive dissonance refers to the confusion and frustration people experience when they compare different products before making a purchase.

)Government publications,such as the Statistics Canada Catalogue,are reliable sources of primary data.

Choosing to open new locations for a business in cities with populations of under 50,000 is an example of geographic segmentation.

The most important component of the marketing mix is the actual production,or manufacturing,of the product.

Holly is a sophomore in college considering a degree in marketing.She has asked several friends for advice and their comments are listed below.Which of these comments is the most accurate?

The business-to-business (B2B)market involves the marketing of goods and services to institutions that sell,rent,produce or supply goods to others.

A consumer's decision making process is influenced by their __________,consisting of those people who help shape the consumer's beliefs,attitudes,values or behaviour.