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Exam 13: Marketing: Helping Buyers Buy

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Question 1

Multiple Choice

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Which of the following is the best example of cognitive dissonance?

A) Phillip has been shopping for a new flat screen, but has not yet made a purchase because he is having trouble deciding which brand to buy.
B) Lorelai decided to eat at a restaurant she previously avoided after learning several celebrities endorse the restaurant.
C) Braylon is torn between going to the movies with friends or staying home and studying for an exam tomorrow.
D) Drake just bought an expensive tablet and is already worried that he could have found a better deal if he had shopped more carefully.

E) A) and B)
F) All of the above

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Question 2

True/False

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One-to-one marketing is seldom used in B2B markets.

A) True
B) False

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Question 3

Multiple Choice

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A firm's marketing mix consists of 4 major components, which are generally referred to as the four

Cognitive dissonance refers to the confusion and frustration people experience when they compare different products they rarely use before making a purchase.

When classifying a product as a consumer product or a B2B product, the primary factor to consider is the financial status of the buyer.

Marketing is a limited activity, performed when a business is first established and when it introduces a new product to the market. Once a firm has fine-tuned its marketing activities, it can turn its attention elsewhere.

Marketing goods and services to the B2B market relies more heavily on advertising than marketing efforts aimed toward the consumer market.

The marketing mix provides a detailed market analysis to determine opportunities and challenges as well as information needed to make good decisions.

Which of the following statements about the distinction between consumer goods and B2B goods is the most accurate?

Marketing strategies used effectively in the business-to-business markets are exactly the same as strategies used by marketers in consumer markets.

Consumer databases, blogs, and social network sites are some of the technological factors that are used by marketers to develop goods and services.

Marco is a marketing manager for Securities Services. He has been looking at a variety of factors, such as technological, sociocultural, and economic trends as well as competitive conditions. Marco is confident that these factors will impact Securities' future marketing success. What are his efforts an example of?

Which of the following describes a word, letter, or group of words or letters that differentiate the goods and services of a seller from those of competitors?

Jessica, a sophomore in college, is contemplating majoring in marketing. She has asked several friends for advice and their comments are listed below. Which of these comments is the most accurate and likely to help Jessica?

A firm that uses ________ segmentation divides a market into groups based on values, attitudes, or interests.

In the evolution of marketing, the marketing concept era emphasized selling and advertising in an effort to persuade consumers to buy existing products.

________ marketers include manufacturers, intermediaries, institutions, and the government.

According to the Spotlight on Small Business box, small businesses can make big money by

Travel agencies demonstrate a one-to-one marketing strategy when they develop unique vacation packages for individual customers.

While most students find marketing an interesting and meaningful subject, one drawback of majoring in marketing is that it prepares students for only a narrow range of career options.