1. The most formal definition of marketing is ________.*

C. the four Ps (product, price, place, promotion)

A. meeting needs profitably

B. identifying and meeting human and social needs

E. an organizational function and a 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

D. improving the quality of life for consumers

2. Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called ________.*

C. consumer markets

A. global markets

B. business markets

E. nonprofit and governmental markets

D. service markets

3. ________ are basic human requirements; ________ are the ways in which we satisfy those requirements, and they are shaped by our society.*

A. Wants; needs

B. Demands; wants

C. Needs; wants

D. Needs; demands

E. Demands; needs

4. Companies address needs by putting forth a(n) ________, a set of benefits that they offer to customers to satisfy their needs.

A. brand

B. demand

C. offering

D. target market

E. value proposition

5. If a marketer decides to use warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using what is called a ________.

A. brand channel

B. service channel

C. relationship channel

D. distribution channel

E. intermediary channel

6. The ________ concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.

A. selling

B. product

C. marketing

D. production

E. holistic marketing

7. Car rental firms, barbers, and management consultants provide ________.

A. goods

B. places

C. services

D. information

E. experiences

8. One key to customer retention is ________. It would be wise for a company to measure this factor frequently.

A. heavy promotion

B. customer satisfaction

C. to have an ethics officer

D. deep discounts for intermediaries

E. to have customers on the board of directors

9. ________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

A. Value

B. Quality

C. Performance

D Customer loyalty

E. Customer retention

10. ________ is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants.

A. Psychology

B. Target marketing

C. Consumer behavior

D. Product differentiation

E. Psychographic segmentation

11. A person's ________ consist(s) of all the groups that have a direct (face-to-face) or indirect influence on his/her attitudes or behavior.

A. culture

B. subculture

C. demographics

D. psychographics

E. reference groups

12. A(n) ________ is the person who offers informal advice or information about a specific product or product category, such as which of several brands is best or how a particular product may be used.

A. social factor

B. opinion leader

C. reference group

D. anchoring heuristic

E. family of procreation

13. People choose products that reflect and communicate their role and actual or desired ________ in society.

A. status

B. group

C beliefs

D. feelings

E. attitudes

14. At the top of Maslow's hierarchy of needs (shown as a pyramid in the text) are ________ needs.

A. social

B. safety

C. esteem

D. physiological

E. self-actualization

15. ________ is the tendency to interpret information in a way that will fit our preconceptions.

A. Discrimination

B. Selective distortion

C. Selective retention

D. Cognitive dissonance

E. Subliminal perception

16. The buying process starts when the buyer recognizes a(n) _________.

A. product

B. internal cue

C. problem or need

D. advertisement for the product

E salesperson from a previous visit

17. A(n) ________ puts people into a frame of mind: liking or disliking an object, moving toward or away from it.

A. stance

B. belief

C. feeling

D. attitude

E. position

18. Jason writes a weekly column in his school's newspaper about movies he has seen, books he has read, and concerts he has attended. His column provides information and opinions. Feedback from his fellow students is positive, and they are appreciative of the advice that is given. Which of the following would be the most apt description of the role played by Jason?

A. Protestor

B. Protector

C. Muckraker

D. Silent majority

E. Opinion leader

19. The ________ consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others.

A. global market

B. supplier market

C. business market

D. consumer market

E. e-commerce market

20. ________ is composed of all parties who participate in the purchasing decision-making process and share common goals and risks associated with their decisions.

A. The buying center

B. The logistics center

C. Engineering support

D. Strategic management

E. The marketing sales team

21. Jason Riggs' company is considered to be an in-supplier for a lawn mower manufacturer. However, recently the lawn mower company has put out a memo to in- and out-suppliers indicating that it would like to modify product specifications and delivery schedules. Which of the following buying situations is most likely to be in operation given this data?

A. Flatten rebuy

B. Elastic rebuy

C. Straight rebuy

D. Modified rebuy

E. Fluctuating rebuy

22. If a marketer decides to segment a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.

A. cultural

B. social class

C. geographic

D. demographic

E. psychographic

23. When segmenting on the basis of family life cycle, all of the following are segment categories EXCEPT ________.

A. male, female

B. young, single

C. young, married

D. older, married, no children under 18

E. young, married, youngest child 6 or over

24. If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment.

A. benefit

B. occasion

C. usage rate

D. user status

E. buyer-readiness stage

25. The sale of turkeys in the United States is highest in mid- to late November, as people buy turkeys to serve at Thanksgiving. Grocery stores who specifically advertise turkeys at this time of year are segmenting on the basis of ________.

A. benefits

B. occasion

C. user status

D. demographics

E. psychographics

26. Mothers-to-be are potential users who will turn into heavy users of infant products and services. By targeting mothers-to-be as future heavy users, producers of these products and services are segmenting consumers on the basis of ________.

A. benefits

B. user status

C. usage rate

D. loyalty status

E. buyer-readiness stage

27. To meet the ________ criterion of useful market segments, it must be possible to formulate effective programs for attracting and serving the segments.

A. accessible

B. actionable

C. measurable

D. substantial

E. differentiable

28. If married and unmarried women respond similarly to a sale on perfume, these hypothetical segments fail the ________ criterion for useful market segments.

A. actionable

B. accessible

C. substantial

D. measurable

E. differentiable

29. According to the ________ criterion for useful market segments, a segment should be the largest possible homogenous group worth going after with a tailored marketing program.

A. actionable

B. accessible

C. substantial

D. measurable

E. differentiable

30. In ________ marketing, the firm operates in several market segments and designs different products for each segment.

A. niche

B. segmented

C. differentiated

D. undifferentiated

E. geodemographic

31. When Coca-Cola sold only one kind of Coke in a 6.5-ounce bottle, it was practicing what is called ________.

A. mass marketing

B. micromarketing

C. macromarketing

D. primary marketing

E. segmented marketing

32. Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ segmentation.

A. user status

B. behavioral

C. geographic

D. demographic

E. psychographic

33. As a brand manager you have decided to use the ________ full market coverage approach in marketing to your customers, whereby your firm will operate in several market segments and design different products for each segment.

A. parallel

B. introverted

C. concentrated

D. differentiated

E. undifferentiated

34. In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers.

A. mass

B. group

C. general

D. segmented

E. differentiated

35. Effective target marketing requires that marketers use market segmentation, market targeting, and market positioning to achieve success in the marketplace.

True

False

36. A market segment consists of a group of consumers who share a similar set of needs and wants.

True

False

37. With respect to loyalty status, if a consumer is loyal to two or three brands, he or she is called shifting loyal.

True

False

38. An undifferentiated marketing approach to full market coverage designs a product and a marketing program that will endow the product with a superior image and appeal to the broadest number of buyers.

True

False

39. The business market is essentially the same thing as the consumer market.

True

False

40. Business buyers often select suppliers who also buy from them.

True

False

41. Business buyers often buy directly from manufacturers rather than through intermediaries, especially items that are technically complex or expensive.

True

False

42. The buying process starts when the buyer decides to or actually enters a store or service provider's facility.

True

False

43. A belief is a person's enduring favorable or unfavorable evaluation, emotional feeling, and action tendencies toward some object or idea.

True

False

44. A role consists of the activities a person is expected to perform.

True

False

45. For a consumer to be delighted with a product or service he or she must perceive that performance exceeds expectations.

True

False

46. Wants are basic human requirements such as food or air.

True

False

47. When a marketer makes decisions involving channels, assortments, locations, and transportation, the marketer is making what are called place decisions.

True

False

48. One key to customer retention is customer satisfaction.

True

False

49. A highly satisfied customer generally stays loyal longer, pays less attention to competing brands, and is less sensitive to price.

True

False

50. Micromarketing is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations

True

False