Ch 11 Test Review

A marketing plan is a written document that specifies an organization's resources, objectives, and strategy. 

• True
• False

Consumers usually use the same decision behaviors when buying different products. 

• True
• False

A marketing information system manages information from both internal and external sources. 

• True
• False

It is not a good idea to segment a market according to whether the purchaser is a consumer or a business-to-business user.

• True
• False

Organizations usually use only one method for forecasting sales.

• True
• False

The organizational function and set of processes for creating, communicating and delivering  value to customers and for managing customer relationships in ways that benefit the organization
and its stakeholders is

• production
• dispersion
• marketing
• distribution

Car dealers are financed by automobile manufacturers, and Walmart receives financing from its
wholesalers and manufacturers. What marketing functions do such activities perform?

• Buying
• Standardization
• Gathering Information
• Financing

An approach to marketing that involves the entire business organization in the process of satisfying customers' needs while achieving the organization's goals is called

• market utility
• market segmentation
• the market plan
• the marketing concept

Federated Insurance wants to expand its line of life insurance products by introducing a new policy. In keeping with the marketing concept, it likely will research all of the following except

• what price level is acceptable to customers.
• what features potential customers are most interested in. 
• who the major competitor's most recent buyers are.
• what promotional activities will best illustrate the new product's benefits. 

A marketing strategy consists of the selection and analysis of a target market and 

• the creation and maintenance of an appropriate marketing mix
• the determination of product features and benefits to meet the customers' needs. 
• decisions about how to distribute the product and at what price
• decisions about how and where to advertise and promote the product.