Font size
WorksheetsChapter 11 Review: Marketing
Total questions: 33
Worksheet time: 3hrs 45mins
What is an 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?
Financing
Marketing
Accounting
Communications
What is the ability of goods and services to satisfy consumer “wants”?
Utility
Value
Selling
Marketing
What are the four types of utility?
Form utility
Time utility
Place utility
Ownership utility
Marketing Utility
What are the four eras in the evolution of marketing?
Production
Selling
Marketing
Relationship
Manufacturing
A strategy for managing an organization's relationships and interactions with potential customers is:
Management relationship (MR)
Customer relationship management (CRM)
Marketing relationship management (MRM)
Strategic relationship Management (SRM)
A customers perception that a product has a better relationship than its competitors between the cost and the benefits.
Perception
Price
Quality
Value
When customers perceive that a good or service delivers value above and beyond their expectations.
Value expectation
Services expectations
Customer satisfaction
Negative outcome
What are the two traps of a marketer?
Overpromising
Underpromising
Marketing mix
Overselling
A formal document that defines marketing objectives and the specific strategies for achieving those objectives.
Strategies Plan
Marketing plan
Marketing ideas
Marketing tactics
The process of dividing a market into distinct groups of buyers with different needs or behaviors:
Price segmentation
Division segmentation
Market segmentation
Behavior segmentation
The group of people who are most likely to buy a product.
A random market
Likely market
Target market
Expected market
What is the difference between a consumer marketer (B2C) and business marketer (B2B)?
Consumer marketing targets consumers, business marketing targets businesses.
Consumer marketing targets businesses, business marketing targets consumers.
Both target consumers.
Both target businesses.
What are the four areas of consumer market segmentation?
Demographic
Geographic
Psychographic
Belief
Behavioral
What are the three areas of business market segmentation?
Specific-use
Market-based
Product-use
Geographic
Customer-based
What are the four components of the marketing mix, sometimes called the four p’s of marketing?
Property: How to protect your product from copycat producers
Price: What price to charge
Distribution or Place: How to get the product to your customer
Promotion: How are you going to make customers aware of your product.
Product: What product to make
The five key elements of the external marketing environment are competitive, economic, social/cultural, technological and political/legal
False
True
None of the answers
What is a description of how people act when they are buying, using, and discarding goods and services for their personal consumption?
Consumer behavior
Market analysis
Product lifecycle
Supply chain management
What is cognitive dissonance in consumers? (two answers)
Consumer discomfort with a purchase decision
Your actions do not match your ethics
Your actions match your ethics
Consumer happiness with a purchase decision
The five steps in the Consumer Decision Process are: need recognition, informational search, evaluation of alternatives, purchase decision and post-purchase behavior
True
False
Cannot be determined
The three reasons that companies use marketing research are: identify external opportunities and threats, improve the marketing mix and monitor and predict customer behavior.
True
False
Not enough information
The two types of data used in marketing research are primary and secondary research?
True
False
What data used in marketing research is the lower cost?
Primary data
Secondary data
Tertiary data
Qualitative data
Which type of data used in marketing research is new data that marketers compile for a project?
Qualitative data
Secondary data
Primary data
Quantitative data
What are two types of primary research data?
International
Survey
Strategic
Observational
What are three examples of observational research?
Scanner data from retail sales
Door to door interview
Garbage analysis to measure recycling compliance
Traffic counters to determine where to place billboards
Focus group
What are three examples of survey research?
Telephone surveys and online questionnaires
Scanner data from retail sales
Traffic counter to determine where to place a billboard
Focus groups
Mail in questionnaires
What are two key factors that have had a dramatic impact on marketing in the past couple of decades?
Cryptocurrency
Dramatic emergence of the Internet and digital technology.
Surge in the social responsibility movement
Only one answer is correct
What is developing and promoting environmental sound products to gain a competitive edge called?
Sustainable advertising
Eco-friendly branding
Green marketing
Environmental PR
What is it called when you create a product that is tailored for individual consumers on a mass basis?
Batch processing
Mass production
Personalization
Mass customization
Which is NOT part of the Marketing Mix?
Product
Production
Price
Place
Four basic marketing strategies, the four Ps, are called:
market
marketing
marketing mix
relationship marketing
Which type of market segmentation includes climate, city size, and population density?
Behaviorgraphic
Demographic
Psychographic
Geographic
A type of market segmentation based on a customers changes in attitudes, lifestyles, and opinions.
Psychographic
