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Exam 13: Marketing: Helping Buyers Buy

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Question 101

True/False

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Given today's marketing environment,marketing managers must constantly adjust the four P's of the marketing mix. Marketing is an ongoing process.Companies must continually adapt to changes in customer wants and competitive pressures.

A) True
B) False

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Question 102

Multiple Choice

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Kelly buys only high-priced jeans and expensive sport shoes endorsed by her favorite entertainers.Also,her attitudes and values are shaped by specific statements made by these celebrities.She also supports causes and charities the celebrities endorse.This illustrates how consumer decision making is influenced by:

A) marketing mix variables.
B) cognitive dissonance.
C) a reference group.
D) primary group identification.

E) C) and D)
F) B) and C)

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Question 103

Multiple Choice

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Business-to-business markets tend to be:

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. -When Callie wants to obtain information to research changes in her market or determine what her customers are likely to want in the future,she relies on the articles and data available in trade journals,feedback from surveys,and personal interviews of her customers.Which of the following statements about Callie's sources of information is most accurate?

All-Star Collectibles focuses its marketing efforts on high-income buyers of unique collectible items.The firm realizes that the number of buyers in this segment of the collectible market is small.However,they are confident that this approach will be profitable since these buyers will pay premium prices for their unique products and superior customer service.All-Star's approach is an example of:

Government publications,such as the Annual Survey of Manufacturers and Survey of Current Business,are reliable sources of detailed primary data.

Which of the following statements about the distinction between consumer goods and B2B goods is the most accurate?

Whenever available,marketers should rely exclusively on primary data because it is much more accurate than secondary data. When doing research,marketers must be aware of the trade-off between information needs and the cost.Marketers can reduce costs by looking for relevant secondary data before gathering primary data.Since secondary data has already been published,it is available without the additional effort and expense needed to obtain primary data.

Which of the following is considered a step in the marketing research process?

Firms developing products for a narrow segment of a market are less likely to profitably satisfy that group's needs.

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. -When Callie developed a detailed description of her ideas for a health club and asked for feedback from women about the proposal,she was engaging in:

As part of her responsibilities as a marketing manager,Jan has completed a review of data her department has gathered through telephone interviews,mail surveys and focus groups.Jan is disappointed because the research results strongly suggest that a product idea she helped develop is unlikely to be popular with potential customers.Jan should:

A ___________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations.

The marketing concept emphasizes that everyone from the president of the firm to the delivery people should be customer oriented.

Population growth and changing demographics are two elements of a firm's socio-cultural environment.

According to the Thinking Green box in Chapter 13,the use of specific Web sites shifts the marketing task in the automobile industry from helping the seller sell to helping the buyer buy.

Which of the following would best benefit the development of niche marketing?

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

After years of selling in the consumer market,Dave accepted a job as a salesperson for a firm that markets its products in the B2B market.As he considers his new responsibilities,it's likely that he will:

A cup of yogurt is an example of a product that is always classified as a consumer good. The determining factor as to classification of a good is the buyer's reason for buying a product and the way it will be used.A cup of yogurt could be classified a B2B good if it is bought by a restaurant to resell to its customers.