Julio wants to open a sporting goods store. Which is a good first step for marketing the business?

• accepting cash from a customer purchasing a product

• holding regular staff meetings to go over employee benefits

• hiring an attorney to review all contracts associated with the business

• researching the most likely customers and how to reach them

Bianca has been working on a new marketing plan for her consulting business. Ultimately, what should her most important marketing goal be?

• to minimize the focus on a product

• to change consumers’ minds about products

• to build long-term relationships with customers

• to make sure that consumers focus on products, not companies

Bianca has been working on a new marketing plan for her consulting business. Ultimately, what should her most important marketing goal be?

• to minimize the focus on a product

• to change consumers’ minds about products

• to build long-term relationships with customers

• to make sure that consumers focus on products, not companies

Simone owns a women’s clothing boutique. Who is most likely to be her ideal customer?

• someone who came in once but spent a great deal of money

• someone who comes in frequently but rarely actually buys products

• someone who visits weekly and spends a moderate amount of money

• someone who comes in occasionally and complains about the business

Why should businesses pursue repeat customers?

• They will spend the most over time.

• They care the least about customer service.

• They do not require further marketing efforts.

• They are most likely to review the business on social media.

How does marketing shape the products that businesses provide?

• Marketing defines the requirements for a given product.

• Marketing requires that businesses interact with consumers.

• Marketing is only possible after the product is fully developed.

• Marketing helps businesses determine what customers will want in the future.

Which of these is an example of the relationship between a product and society?

• creating a national minimum wage

• using recycled material in packaging

• considering products that were used decades ago

• following all of the regulations that relate to the product

When a business such as Starbucks creates a new need in society, who else benefits?

• businesses that fill other needs

• those who open similar businesses

• suppliers when demand decreases as a result

• consumers who are willing to pay increasingly high prices

A car manufacturer notices that customers are increasingly buying its most fuel-efficient models. At the same time, its top two luxury models also account for a significant number of sales. How could this information about the market help the manufacturer develop future models?

• It suggests that consumers are only interested in fuel-efficient vehicles.

• It indicates that value is what customers are looking for in cars.

• It tells the manufacturer the qualities that consumers are looking for.

• It indicates that luxury models should be the primary focus of future marketing efforts.

How can a customer’s negative experience be an opportunity for marketing?

• It is not—businesses should ignore unhappy customers.

• The business can explain why the customer is wrong to be upset.

• Marketing efforts are designed with the dissatisfied customer in mind.

• A successful resolution of the problem can keep the customer a fan of the business.