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Chapter 11 - Customer-Driven Marketing

Chapter 11 Customer-Driven Marketing

True / False Questions 1. Marketing occurs only in large business organizations. FALSE Organizations of all sizes and objectives engage in marketing activities.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-01 Define marketing and describe the exchange process. Topic: 11-01 Nature of Marketing

2. Marketing creates value by allowing individuals and organizations to obtain what they want and need. TRUE Marketing activities create value by allowing individuals and organizations to obtain what they need and want.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-01 Define marketing and describe the exchange process. Topic: 11-01 Nature of Marketing

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Chapter 11 - Customer-Driven Marketing

3. Marketing can be thought of as simply selling and advertising. FALSE Marketing is not just selling and advertising, it is a systematic approach to satisfying consumers.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-01 Define marketing and describe the exchange process. Topic: 11-01 Nature of Marketing

4. Creating an innovative product that meets many users' needs is sufficient in today's global marketplace. FALSE Just creating an innovative product that meets many users' needs isn't sufficient in today's volatile global marketplace. Products must be conveniently available, competitively priced, and uniquely promoted.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-01 Define marketing and describe the exchange process. Topic: 11-01 Nature of Marketing

5. If an exchange is to occur, each participant must be willing to give up something of value to receive something the other has. TRUE For an exchange to occur, each participant must be willing to give up his or her respective "something of value" to receive the "something" held by the other.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-01 Define marketing and describe the exchange process. Topic: 11-02 The Exchange Relationship

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Chapter 11 - Customer-Driven Marketing

6. As long as both a buyer and seller have something of value to exchange, an exchange will take place. FALSE An exchange does not necessarily take place just because buyers and sellers have something of value to exchange. Each participant must be willing to give up his or her respective "something of value" to receive the "something" held by the other.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 11-01 Define marketing and describe the exchange process. Topic: 11-02 The Exchange Relationship

7. Marketers usually view buying as a persuasive activity that is accomplished through promotion. FALSE Marketers usually view selling as a persuasive activity that is accomplished through promotion (advertising, personal selling, sales promotion, publicity, and packaging).

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Hard Learning Objective: 11-02 Specify the functions of marketing. Topic: 11-03 Functions of Marketing

8. A marketer must understand buyers' needs and desires to determine what products to make available. TRUE Everyone who shops for products (consumers, stores, businesses, governments) decides whether and what to buy. A marketer must understand buyers' needs and desires to determine what products to make available.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-02 Specify the functions of marketing. Topic: 11-03 Functions of Marketing

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Chapter 11 - Customer-Driven Marketing

9. Transporting includes warehousing goods. FALSE Transporting is the process of moving products from the seller to the buyer.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-02 Specify the functions of marketing. Topic: 11-03 Functions of Marketing

10. The financing function expedites purchases. TRUE For many products, the financing function involves expediting large purchases like new homes or washing machines by extending credit.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-02 Specify the functions of marketing. Topic: 11-03 Functions of Marketing

11. Spending money to hire a sales force or to conduct marketing research does not involve risks. FALSE Spending money to hire a sales force or to conduct marketing research also involves risk.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-02 Specify the functions of marketing. Topic: 11-03 Functions of Marketing

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Chapter 11 - Customer-Driven Marketing

12. Grading is the process of ranking products in order of the level of consumer demand and displaying the most sought after goods in the most visible location. FALSE Grading refers to standardizing products and displaying and labelling them so that consumers clearly understand their nature and quality.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Medium Learning Objective: 11-02 Specify the functions of marketing. Topic: 11-03 Functions of Marketing

13. The marketing concept is the basic philosophy that guides all marketing activities. TRUE A basic philosophy that guides all marketing activities is the marketing concept.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-04 The Marketing Concept

14. Customer satisfaction is a goal of the marketing concept. TRUE Customer satisfaction is a goal of the marketing concept.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-04 The Marketing Concept

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Chapter 11 - Customer-Driven Marketing

15. Everyone in the organization who interacts with customers must know what customers want. TRUE Everyone in the organization who interacts with customers—all customer-contact employees —must know what customers want.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-04 The Marketing Concept

16. If you build a better mousetrap, consumers will beat a path to your door. FALSE Actually, consumers are not likely to beat a path to your door because the market is too competitive. Your company must reach out to customers and tell them about your mousetrap, especially how your mousetrap works better than those offered by competitors.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-04 The Marketing Concept

17. Trying to determine buyers' needs is easy because marketers fully understand what motivates people to buy things. FALSE Buying involves trying to determine customers' needs and desires. Trying to determine customers' true needs is increasingly difficult because no one fully understands what motivates people to buy things.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-05 Evolution of the Marketing Concept

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Chapter 11 - Customer-Driven Marketing

18. The production orientation characterizes the second half of the 19th century when new technologies, such as electricity, railroads, internal combustion engines, and mass-production techniques, made it possible to manufacture goods with ever increasing efficiency. TRUE Together with new management, ideas and ways of using labour, products poured into the marketplace, where demand for manufactured goods was strong.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-05 Evolution of the Marketing Concept

19. The marketing orientation was when businesses discovered that they must first determine what customers want and then produce it, rather than making the products first and then trying to persuade customers that they need them. TRUE A marketing orientation requires organizations to gather information about customer needs, share that information throughout the entire firm, and use that information to help build longterm relationships with customers.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-05 Evolution of the Marketing Concept

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Chapter 11 - Customer-Driven Marketing

20. Trying to determine customers' true needs is difficult because no one fully understands what motivates people to buy things. TRUE According to the marketing concept, a business must find out what consumers desire and then develop the good, service, or idea that fulfills their needs or wants. However, trying to determine customers' true needs is increasingly difficult because no one fully understands what motivates people to buy things.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-05 Evolution of the Marketing Concept

21. The social media era replaced the production orientation era. FALSE While the marketing orientation era is not over, some would argue that it is slowly being replaced or complemented by the social media era.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-06 Social Media Era

22. Social media is redefining marketing. TRUE Social media is redefining marketing, as it allows for the building of online communities, which encourage participation and communication among members.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-03 Explain the marketing concept and its implications for developing marketing strategies. Topic: 11-06 Social Media Era

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Chapter 11 - Customer-Driven Marketing

23. A marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers. TRUE The marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-07 Developing a Marketing Strategy

24. The major component of a marketing strategy is to develop an appropriate marketing mix to satisfy that target market. FALSE The two major components are selecting a target market and developing an appropriate marketing mix to satisfy that target market.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-07 Developing a Marketing Strategy

25. Marketing managers may define a target market as a relatively small number of people. TRUE Marketing managers may define a target market as a relatively small number of people, or they may define it as the total market.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

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Chapter 11 - Customer-Driven Marketing

26. A target market is a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas. FALSE A target market is a more specific group of consumers on whose needs and wants a company focuses its marketing efforts.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

27. Total-market approach is one where a firm tries to appeal to everyone and assumes that all buyers have similar needs. TRUE Sellers of salt, sugar, and many agricultural products use a total-market approach because everyone is a potential consumer of these products.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

28. Most firms use the total-market approach. FALSE Most firms use the market segment approach.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

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Chapter 11 - Customer-Driven Marketing

29. A narrow market segment with one small, well-defined set of needs is called puddle marketing. FALSE This is known as niche marketing.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

30. In the multi-segment approach, the marketer directs one marketing strategy toward a single market segment. FALSE In the multi-segment approach, the marketer aims its marketing efforts at two or more segments, developing a marketing strategy for each.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

31. Psychographic characteristics of segmentation include personality characteristics, motives, and lifestyles. TRUE Psychographic variables of segmentation include personality characteristics, motives, and lifestyles.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

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Chapter 11 - Customer-Driven Marketing

32. The children of Baby Boomers are called the "Boomer Recursive" generation. FALSE The children of Baby Boomers are known as the Echo generation. They are born between 1980 and 2004.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-08 Selecting a Target Market

33. Products usually have both favourable and unfavourable attributes. TRUE Products usually have both favourable and unfavourable attributes.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-09 Developing a Marketing Mix

34. Place can also refer to creating a location consumers find desirable. TRUE Dollarama created 594-plus locations that consumers wanted to visit.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-04 Examine the development of a marketing strategy, including market segmentation and marketing mix. Topic: 11-09 Developing a Marketing Mix

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Chapter 11 - Customer-Driven Marketing

35. Secondary data is information observed, recorded, or collected regularly from sources inside and outside the organization. FALSE While primary data are observed, recorded, or collected directly from respondents, secondary data are compiled inside or outside the organization for some purpose other than changing the current situation.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Medium Learning Objective: 11-05 Investigate how marketers conduct marketing research and study buying behaviour. Topic: 11-10 Marketing Research and Information Systems

36. Virtual testing, combines sight, sound, and animation to facilitate the testing of concepts as well as packaging and design features for consumer products. TRUE Computerization offers a greater degree of flexibility, shortens the staff time involved in data gathering, and cuts marketing research costs.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-05 Investigate how marketers conduct marketing research and study buying behaviour. Topic: 11-10 Marketing Research and Information Systems

37. Marketers analyze buying behaviour because a firm's marketing strategy should be guided by an understanding of buyers. TRUE Buying behaviour refers to the decision processes and actions of people who purchase and use products.

Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Learning Objective: 11-05 Investigate how marketers conduct marketing research and study buying behaviour. Topic: 11-11 Buying Behaviour

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Chapter 11 - Customer-Driven Marketing

38. Buying behaviour includes the behaviour of both consumers purchasing products for personal or household use as well as organizations buying products for business use. TRUE Buying behaviour refers to the decision processes and actions of people who purchase and use products. It includes the behaviour of both consumers purchasing products for personal or household use as well as organizations buying products for business use.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-05 Investigate how marketers conduct marketing research and study buying behaviour. Topic: 11-11 Buying Behaviour

39. Attitude is a social variable of buying behaviour. FALSE Attitude is knowledge and positive or negative feelings about something.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-05 Investigate how marketers conduct marketing research and study buying behaviour. Topic: 11-12 Psychological Variables of Buying Behaviour

40. Attitude is knowledge and positive or negative feelings about something. TRUE For example, a person who feels strongly about protecting the environment may refuse to buy products that harm the earth and its inhabitants.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Learning Objective: 11-05 Investigate how marketers co...