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Exam 14: Marketing: Building Customer and Stakeholder Relationships

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Question 101

Multiple Choice

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Which of the following is considered a secondary source of information?

A) focus group
B) company record
C) survey
D) observation

E) B) and C)
F) None of the above

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Question 102

Multiple Choice

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Archie just bought a pickup truck with centre armrests that double as laptop workstations.What part of the four Ps is his automobile company addressing?

A) place
B) promotion
C) product
D) price

E) A) and B)
F) A) and D)

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Question 103

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Market segmentation is the process of dividing a market into several groups that have dissimilar characteristics.

B2B marketers include manufacturers,retailers,hospitals,and the government.

Marketing strategies used effectively in the business-to-business markets are the same as strategies used by marketers in consumer markets.

In an effort to increase customer loyalty,management at Phat International has worked to create a personal dialogue with their customers.This dialogue will enable Phat to offer products that exactly meet their customers' needs and provide personalized service before and after the sale.Phat International's new strategy illustrates:

The four elements of marketing mix are product,timing,price,and efficiency.

A ________ group consists of a small group of people who meet under the direction of a discussion leader to discuss their opinions about an organization,its products,or other issues.

The marketing manager's job is to design a program that effectively combines the ingredients of the marketing mix.

What are the goals of a marketing mix?

Firms that have adopted _________ seek to do more than simply sell a product; they seek to learn as much as possible about their customers in order to satisfy and even delight them with goods and services over time.

The focus of the production era was on distribution and advertising.

Environmental scanning involves the tracking of pollution generated by a firm and its impact on society.

Jose has accepted a sales position at Business Solutions Corporation.Prior to this job,Jose worked in the electronics department of a retail store selling personal computers to consumers.In his new job at Business Solutions,Jose will sell personal computers to businesses.Despite the fact that the products sold to these two customer groups are quite similar,Jose is likely to find that purchasing decisions by buyers in the two markets will be influenced by different factors.

The first step in the marketing research process is to collect relevant data.

Relationship marketing moves away from mass production and toward custom-made goods and services.

When setting the price for a product or service your price needs to,

The four eras of the evolution of marketing are (1) production, (2) selling, (3) advertising, and (4) stakeholder relationships.

Identify and discuss the four eras of the evolution of marketing.

Because consumers differ in age,educational level,income,and tastes,firms will be more likely to succeed if they target a segment of a market and develop goods and services specially tailored to that group.