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Exam 13: Marketing: Helping Buyers Buy

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Question 91

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Firms adopting a relationship marketing strategy often establish a database of information about each customer.

A) True
B) False

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Question 92

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Business-to-business markets tend to be geographically concentrated.

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B) False

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Question 93

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The McDonald's Foundation is a nonprofit organization that helps underprivileged children.As a nonprofit organization,it should avoid performing marketing functions,since these functions are designed to help organizations earn a profit.

Marketing focuses on the pricing and distribution of want-satisfying products,as well as determining the best way to promote the products to consumers.

The two major types of markets in business are the consumer market and the government market.

Eavesdrop Communications just finished a telephone survey of several of their current customers.They plan to conduct in-depth personal interviews with about twenty additional customers.Both the telephone survey and the interviews are sources of primary data for Eavesdrop.

Mini-Case Callie is a successful executive who is also a fitness enthusiast.For years she worked out at Big Jim's Gym,the only gym in her small hometown.However,she felt that the environment at Big Jim's was too masculine,and discovered that her female friends agreed.They disliked the small,smelly locker room,and the limited selection of aerobics equipment.Most of them eventually quit going to Big Jim's.Callie talked to Jim Nasium,the owner of Big Jim's,about things he could do to attract more women,but Jim had little interest in making any changes."I've got all the business I can handle," he told Callie."Why should I spend a bunch of money to redecorate and add extra equipment? Besides,lots of the guys who work out here tell me they like the simple,no-frills atmosphere." Frustrated by Jim's indifference to her ideas,Callie began looking into the possibility of starting a health club to appeal to young,well-educated women.After visiting health clubs in other towns and talking to several friends to get ideas,she came up with a detailed plan for her club.She then described her ideas to women in the community to see how much interest there was in this type of facility.The extremely positive response encouraged her to go ahead with her plans.It took a while,but she ultimately obtained the financial backing to go into business. Callie calls her new health club Curves and Shapes.It offers a spacious and attractive locker room,better aerobics equipment,a child care area so young mothers can have someone watch their toddlers while they work out,and exercise classes designed to appeal to young women.When a woman joins her health club,Callie schedules a free session with a personal trainer who works with the new member to design a personalized workout program.Callie tries hard to keep close to her customers,sending them a monthly newsletter that includes a survey asking what they like and don't like about Curves and Shapes.She wants to please her existing customers and keep them coming back.In fact,now that Curves and Shapes have a strong membership base,Callie believes it is more important to keep existing customers loyal than to attract new customers.In addition to the comments from her own customers,Callie also spends a lot of time tracking economic,social,and competitive trends in the health club industry,trying to identify factors that can affect the marketing success of her health club.She subscribes to several journals that cover trends and report on research findings related to the health club business.She has found that these journals provide her with an inexpensive source of useful information. -Which of the following statements about Callie's marketing approach is most accurate?

The purpose of market segmentation is to identify the features of a product that will appeal to as many customers as possible.

In the evolution of marketing,the marketing concept era emphasized selling and advertising in an effort to persuade consumers to buy existing products.

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

A consumer's decision-making process is influenced by his/her _________,consisting of those people who help shape the consumer's beliefs,attitudes,values or behavior.

Roberto Martinez is a marketing manager for Friendly Financial Services.He has been looking at a variety of factors,such as technological,socio-cultural 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:

The process of identifying the factors that can affect marketing success is called environmental scanning.

Marketers are concerned with selling goods and services,and therefore are not involved in designing the products their firm will sell.

Which of the following is most consistent with a relationship marketing strategy?

Relationship marketing depends on understanding individual consumers and responding quickly to their wants and needs.

Jason bought an expensive new sports car last week.Immediately after the purchase,he worried that he paid too much,and that a less expensive model with better gas mileage would have been a wiser choice.Marketers refer to the doubts Jason is experiencing as post-purchase stress syndrome.

Price is the determining factor as to whether a good is classified as a consumer product or a B2B product.

A firm that uses ___________ segmentation divides a market into groups based on life stage,race,or profession.

Advertising,public relations and product management are some of the careers available to a marketing major.