Question 1

Gear Power Inc.,an automobile company,manufactures different cars for different market segments.It markets its SUVs for customers who live in the mountains,sedans for customers in the coastal plains,and smaller hatchback cars for those in big cities.In this scenario,Gear Power Inc.is primarily using _____ variables of market segmentation.

Accepted Answer

A)  demographic
B)  psychographic
C)  geographic
D)  behavioristic
E)  ethnographicF) A) and B)
G) D) and E)

Question 2

Ryan has produced 1,000 jars of pickled oranges,using the oranges in his orchard.By concentrating his efforts on advertising and publicity,he is trying to encourage people to notice and buy his product.Through his promotional activities,Ryan is primarily engaging in the marketing function of _____.

Accepted Answer

A)  financing
B)  grading
C)  warehousing
D)  buying
E)  sellingF) A) and B)
G) A) and C)

Question 3

_____ are commonly determined by ranking people into higher or lower positions of respect.

Accepted Answer

A)  Social classes
B)  Social roles
C)  Reference groups
D)  Market segments
E)  Functional teamsF) B) and E)
G) B) and C)

Question 4

The first step in developing a marketing strategy is:

Accepted Answer

A)  cultivating effective customer relationships.
B)  attracting new customers.
C)  selecting a target market.
D)  developing an appropriate marketing mix.
E)  conducting a SWOT analysis.F) A) and B)
G) A) and C)

Question 5

It is necessary for nonprofits,government institutions,and even people to market themselves to spread awareness and achieve desired outcomes.

Accepted Answer

A) True 
 B)False

Question 6

Warehouses hold some products for lengthy periods in order to:

Accepted Answer

A)  standardize products.
B)  facilitate smooth transportation.
C)  create time utility.
D)  lower fixed costs.
E)  expedite a purchase.F) B) and C)
G) C) and E)

Question 7

Which of the following is a nonmonetary cost associated with purchasing a car?

Accepted Answer

A)  The interest rates on the car loan
B)  The registration of the car
C)  The excise taxes paid on the car
D)  The monthly installments of the car loan
E)  The time taken to test drive various car modelsF) B) and E)
G) B) and D)

Question 8

Thirst Tip,a beverage manufacturing company,has placed its products strategically in areas where the population density is high.The segmentation done by Thirst Tip is an example of _____ segmentation.

Accepted Answer

A)  demographic
B)  psychographic
C)  geographic
D)  behavioristic
E)  ethnographicF) All of the above
G) A) and E)

Question 9

Every time David wants to change his cell phone,he takes the opinions of his colleagues and friends to decide which phone to buy.Thus,David's colleagues and friends are his _____.

Accepted Answer

A)  social class
B)  social role
C)  target market
D)  reference group
E)  resource poolF) B) and D)
G) D) and E)

Question 10

To gain an edge,businesses must:

Accepted Answer

A)  refrain from making changes to their existing range of products.
B)  launch products into the market directly instead of wasting time in determining what the customers desire.
C)  continually alter,adapt,and develop products to keep pace with changing consumer needs.
D)  engage in activities of price fixing with competitors.
E)  view customer's perception of value as the sole measure of work performance.F) A) and C)
G) A) and E)

Question 11

Which of the following is a social factor that influences buying behavior?

Accepted Answer

A)  Regulatory forces
B)  Reference groups
C)  Competitive forces
D)  Interest groups
E)  Economic forcesF) A) and E)
G) C) and E) B

Question 12

Which of the following activities is associated with the process of grading?

Accepted Answer

A)  Labeling
B)  Storing
C)  Advertising
D)  Selling
E)  ResearchingF) A) and E)
G) B) and E)

Question 13

_____ has the important function of providing revenue to sustain a firm.

Accepted Answer

A)  Accounting
B)  Recruitment
C)  Operations
D)  Marketing
E)  FinanceF) B) and E)
G) C) and D)

Question 14

According to the foreign trade policy of the Republic of Cambria,multinational companies can enter its market only by merging with a local business partner.Which of the following environmental forces does this best reflect?

Accepted Answer

A)  Technological
B)  Social
C)  Civil
D)  Political
E)  EthicalF) A) and B)
G) All of the above D

Question 15

Daily Stop,a supermarket in California,was criticized by the community for the use of plastic bags.In view of the concerns raised by the members of the community,the management took the decision of using biodegradable bags.The decision taken by the management at Daily Stop has been influenced by:

Accepted Answer

A)  political forces.
B)  social forces.
C)  technological forces.
D)  economic forces.
E)  competitive forces.F) A) and B)
G) A) and C) B

Question 16

Which of the following is an example of a reference group?

Accepted Answer

A)  People within a particular social class who develop common patterns of behavior
B)  A group of people who buy products in keeping with their social status
C)  Teenagers who do not agree with the buying options offered to them by their parents
D)  Close family members who influence the buying behavior of the other members of the family
E)  People in the society who rank people into higher or lower positions of respectF) A) and B)
G) All of the above

Question 17

_____ include anything a buyer must give up to obtain the benefits the product provides.

Accepted Answer

A)  Overhead costs
B)  Customer costs
C)  Manufacturing costs
D)  Variable costs
E)  Promotional costsF) D) and E)
G) All of the above

Question 18

Derek dislikes buying branded clothes because he claims that they are a waste of money.In this scenario,Derek's buying behavior is most likely related to his:

Accepted Answer

A)  attitude.
B)  social role.
C)  social class.
D)  political orientation.
E)  ethical dissonance.F) C) and D)
G) A) and E)

Question 19

The market orientation approach emphasizes:

Accepted Answer

A)  extensive promotional activities.
B)  determining what customers want first and then producing it.
C)  efficient production of goods.
D)  making the products first and then trying to persuade customers that they need them.
E)  profits at the expense of customer satisfaction.F) None of the above
G) A) and E)

Question 20

Burgerama Inc.,a popular fast-food chain,is famous for its French fries and hash browns.It is one of the few fast-food chains to exclusively use the potatoes from its own farms.However,its potatoes can be harvested for only three months of the year.Which of the following marketing functions can Burgerama employ to achieve time utility and satisfy year-round demand for its exclusive French fries and hash browns?

Accepted Answer

A)  Grading
B)  Selling
C)  Storing
D)  Buying
E)  FinancingF) C) and E)
G) D) and E)

Exam 11: Customer-Driven Marketing

Correct Answer
verified

Ryan has produced 1,000 jars of pickled oranges,using the oranges in his orchard.By concentrating his efforts on advertising and publicity,he is trying to encourage people to notice and buy his product.Through his promotional activities,Ryan is primarily engaging in the marketing function of _____.

Correct Answer
verified

_____ are commonly determined by ranking people into higher or lower positions of respect.

Correct Answer
verified

The first step in developing a marketing strategy is:

Correct Answer
verified

It is necessary for nonprofits,government institutions,and even people to market themselves to spread awareness and achieve desired outcomes.

Correct Answer
verified

Warehouses hold some products for lengthy periods in order to:

Correct Answer
verified

Which of the following is a nonmonetary cost associated with purchasing a car?

Correct Answer
verified

Thirst Tip,a beverage manufacturing company,has placed its products strategically in areas where the population density is high.The segmentation done by Thirst Tip is an example of _____ segmentation.

Correct Answer
verified

Every time David wants to change his cell phone,he takes the opinions of his colleagues and friends to decide which phone to buy.Thus,David's colleagues and friends are his _____.

Correct Answer
verified

To gain an edge,businesses must:

Correct Answer
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Which of the following is a social factor that influences buying behavior?

Correct Answer
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B

Which of the following activities is associated with the process of grading?

Correct Answer
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_____ has the important function of providing revenue to sustain a firm.

Correct Answer
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According to the foreign trade policy of the Republic of Cambria,multinational companies can enter its market only by merging with a local business partner.Which of the following environmental forces does this best reflect?

Correct Answer
verified
D

Daily Stop,a supermarket in California,was criticized by the community for the use of plastic bags.In view of the concerns raised by the members of the community,the management took the decision of using biodegradable bags.The decision taken by the management at Daily Stop has been influenced by:

Correct Answer
verified
B

Which of the following is an example of a reference group?

Correct Answer
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_____ include anything a buyer must give up to obtain the benefits the product provides.

Correct Answer
verified

Derek dislikes buying branded clothes because he claims that they are a waste of money.In this scenario,Derek's buying behavior is most likely related to his:

Correct Answer
verified

The market orientation approach emphasizes:

Correct Answer
verified

Correct Answer
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Exam 11: Customer-Driven Marketing

Correct AnswerverifiedShow Answer

Ryan has produced 1,000 jars of pickled oranges,using the oranges in his orchard.By concentrating his efforts on advertising and publicity,he is trying to encourage people to notice and buy his product.Through his promotional activities,Ryan is primarily engaging in the marketing function of _____.

Correct AnswerverifiedShow Answer

_____ are commonly determined by ranking people into higher or lower positions of respect.

Correct AnswerverifiedShow Answer

The first step in developing a marketing strategy is:

Correct AnswerverifiedShow Answer

It is necessary for nonprofits,government institutions,and even people to market themselves to spread awareness and achieve desired outcomes.

Correct AnswerverifiedShow Answer

Warehouses hold some products for lengthy periods in order to:

Correct AnswerverifiedShow Answer

Which of the following is a nonmonetary cost associated with purchasing a car?

Correct AnswerverifiedShow Answer

Thirst Tip,a beverage manufacturing company,has placed its products strategically in areas where the population density is high.The segmentation done by Thirst Tip is an example of _____ segmentation.

Correct AnswerverifiedShow Answer

Every time David wants to change his cell phone,he takes the opinions of his colleagues and friends to decide which phone to buy.Thus,David's colleagues and friends are his _____.

Correct AnswerverifiedShow Answer

To gain an edge,businesses must:

Correct AnswerverifiedShow Answer

Which of the following is a social factor that influences buying behavior?

Correct AnswerverifiedB

Which of the following activities is associated with the process of grading?

Correct AnswerverifiedShow Answer

_____ has the important function of providing revenue to sustain a firm.

Correct AnswerverifiedShow Answer

According to the foreign trade policy of the Republic of Cambria,multinational companies can enter its market only by merging with a local business partner.Which of the following environmental forces does this best reflect?

Correct AnswerverifiedD

Daily Stop,a supermarket in California,was criticized by the community for the use of plastic bags.In view of the concerns raised by the members of the community,the management took the decision of using biodegradable bags.The decision taken by the management at Daily Stop has been influenced by:

Correct AnswerverifiedB

Which of the following is an example of a reference group?

Correct AnswerverifiedShow Answer

_____ include anything a buyer must give up to obtain the benefits the product provides.

Correct AnswerverifiedShow Answer

Derek dislikes buying branded clothes because he claims that they are a waste of money.In this scenario,Derek's buying behavior is most likely related to his:

Correct AnswerverifiedShow Answer

The market orientation approach emphasizes:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
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B

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D

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B

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