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Exam 11: Building Customer Relationships Through Effective Marketing

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Question 91

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Would personal income,disposable income,or discretionary income be of the greatest interest to marketers? Explain your answer.

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Discretionary income is of the most inte...

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Question 92

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Western Civic Club's goals differ from those of a profit-driven business,meaning that it is part of a(n) ____ market.

A) producer
B) governmental
C) institutional
D) consumer
E) organizational

F) C) and D)
G) B) and E)

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Question 93

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The utility created by converting production inputs into finished products is called ____ utility.

Your Wish,Inc. Cindy worked for a retail company and noticed there were many things it could do better.She shared some of her ideas with upper management,but it did not want to do things differently.When Cindy went home to talk to her husband,they both realized that,given her passion,it would be better for Cindy to open her own business.After a lot of consideration,she decided to open a sporting goods store called Your Wish,Inc.She also knew just where to open the store⎯right next to her house. To be certain to address all aspects of the business,Cindy hired a marketing research firm to determine the best location.Once all the research was compiled and analyzed,she realized that it would actually be better to open the store in a different area.She also realized that deciding where to locate the business was not the only major concern.More specifically,she would have to focus on the four elements of the marketing mix as well,creating a whole marketing plan.Her husband mentioned the possibility of using online information services to help with the business.With her husband's support and a good marketing plan,Cindy felt that she would be prepared to make the right decisions. -Refer to Your Wish,Inc.Cindy thought about focusing on the four elements of the marketing mix.Which of the following is one of those elements?

Harold is an analyst with Big Company.His manager has asked him to estimate the number of multi-functional vacuum cleaners,Big Company will sell during the last quarter of the current year based on doubling the current marketing efforts.Harold has asked the company executives what they think the likely sales will be,he has surveyed buyers and sales personnel,developed a time-series analysis,and done correlation analysis.Which of the following most accurately describes what Harold has been asked to do?

The process of dividing a market into segments is called

Which of the following is not a step in the consumer buying decision process?

Influences on the external marketing environment that stem from actions of elected and appointed officials are called ____ forces.

Sales forecasts are used by managers in different divisions of an organization.

Cindy and Ashley recently opened a local candy store.They considered the entire market of candy eaters as their market.Which targeting strategy did they use in choosing a target market for their store?

Winifred read the newspaper early in the morning before she opened her Chinese imports store for the day.She read an article about the U.S.government working to limit imports from China due to dumping on the American market and unfair Chinese national banking practices.She is concerned that she will be unable to get products for her store and that if she can get products,they will cost her much more than they did under the administration.Which of the following forces in the external marketing environment is the primary source of her concern?

HP Computer Corporation sells personal computers to colleges and universities,hospitals,civic clubs,charitable organizations,and foundations.This market is called a(n) ____ market.

Gerick is starting a donut and ice cream business.He spent many hours sitting in various ice cream shops and donut shops making notes about which flavor of ice cream is asked for the most often and which donuts sell-out first and what prices are charged for each product at the different shops.He already knows what his break-even point will be and is now trying to determine how he will promote his shop and whether he will rely on walk-in orders and orders placed over the phone or if he should actively market his shop and its products to businesses and nonprofit organizations in his community.Which of the following best describes Gerick's activities?

A(n) ___,used for marketing research,collects information from e-mail,Web sites,downloadable files,news,databases,and research materials.​

Accurate and timely information is the foundation of effective marketing,especially of the marketing concept.

Why would relationship marketing be valuable to a company? Why would it be valuable to a customer?

Your firm would like to implement the marketing concept.What information will you need? Since the acquisition of information costs money,justify your need for this information.

New Seasons Market,a locally owned and operated one-stop grocery store based in Portland,Oregon is committed to providing local products for its particular customer base.New Seasons strives to deepen customer trust and loyalty by keeping close and regular connection with customers in a quest to better understand the customers' needs and desires.New Seasons Market is creating a model for

Target has its own trucks that ship merchandise to its warehouses from the supplier for backstock purposes.Target is carrying out which of the following functions?

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