Question: In the context of a buying process, which of the following statements is true of satisficers

Answer: They contact familiar suppliers and place orders with the first one that fulfills their requirements

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Question: Which of the following is a criterion for successful market segmentation?

Answer: The market segment must be large enough to warrant developing and maintaining a special marketing mix.

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Question: Terra Corp. produces a wide range of furniture, such as cabinets, book cases, and wardrobes. It divides its consumer market into several groups of people who have similar interests in wooden furniture. In this case, dividing its consumer market:

Answer: enables Terra Corp. to define customer needs and wants precisely

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Question: Which of the following is an advantage of a multisegment targeting strategy?

Answer: It provides economies of scale in manufacturing and marketing

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Question: Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. These divisions are known as _____.

Answer: market segments

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Question: Which of the following is a strategy that should be followed by a company to initiate the customer relationship management cycle?

Answer: Collecting detailed information about the products and services its customers are using

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Question: In the context of the ever-changing marketplace, which of the following statements is true of marketing research?

Answer: It helps managers to take advantage of opportunities in the market.

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Question: The management of Fly Pro Airlines plans to introduce special meals on its flights during holiday seasons. It decides to conduct research to determine the best plan and uses the information available on its database to determine the number of flights that were operated and the number of passengers who flew with the airlines during the previous holiday season. In this case, which of the following is most likely to be true?

Answer: Details about flyers' food habits may not be present in Fly Pro Airlines's database

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Question: Which of the following is a secondary data collection method?

Answer: Using annual reports

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Question: The management of Vaikel Inc., an automobile manufacturer, is conducting a survey to find out people's opinions about its latest car, Vaikel 6.0, and their level of satisfaction after using the car. It requests some customers who recently purchased Vaikel 6.0 to participate in the survey and asks them to log on to the company Web site at a given time. After they log on to the site, a moderator runs a discussion about the car and allows the customers to respond. In this case, Vaikel is using a(n) _____ to conduct the survey.

Answer: online focus group

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Question: Tennot Designs Inc. manufactures and sells clothes and shoes. Which of the following strategies will the company most likely employ if idecides to adopt a concentrated targeting strategy?

Answer: It will focus on satisfying the clothing needs of people who are extremely tall

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Question: Companies that successfully implement customer relationship management tend to ______

Answer: customize the goods and services offered to their customers

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Question: The customer relationship management technique that focuses on thanking customers for their business to a company exemplifies the trend of _____.

Answer: loyalty

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Question: In the context of purchasing profiles, _____ are business customers who consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one.

Answer: optimize

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Question: Gerrard, the CEO of a clothing company, decides to conduct a survey on the quality of the company's products. He instructs the survey team to interview the customers who visit the outlets during weekdays. The customers who will be interviewed can be considered a _____.

Answer: convenience sample

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Question: A moderator's major role in an online focus group is to:

Answer: type in questions online for all respondents to see.

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Question: A _____ is a sample in which every element in the population has a known statistical likelihood of being selected.

Answer: probability sample

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Question: Kay & Maggie's, a chain of beauty salons, has its outlets in all the malls in the city. It is conducting a survey to find out how satisfied its customers are with the service provided at all its outlets. In all the city malls, a mall interviewer intercepts the customers who exit the salon and directs them to nearby computers. The customers type the answers to the questions displayed on the computer screen. This is an example of _____.

Answer: computer-assisted self-interviewing

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Question: Kirksand Airlines is well-known for providing excellent service and personalized attention to its flyers. The staff listen carefully to the flyers' wants and needs. If a flyer had any specific requests, the staff member would see to it that the flyer's needs are immediately attended to. In this scenario, on which of the following trends has Kirksand Airlines based its customer relationship management?

Answer: Personalization

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Question: The purpose of market segmentation is to ______

Answer: enable a marketer to tailor marketing mixes to meet the needs of one or more specific segments

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Question: Laelle Chocolates Inc. is a confectionery company that manufactures candies. It does not use specific strategies to target children while marketing its products. Instead, it uses the same strategies to promote its candies among all consumers in the market. This is an example of a(n) _____.

Answer: undifferentiated targeting strategy

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Question: In the context of marketing research, which of the following is specified in the research design?

Answer: The methods of data collection

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Question: Which of the following is an advantage of primary data?

Answer: They answer specific research questions that secondary data cannot answer

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Question: The management of Zilo Toys Inc., a toy manufacturing company, believes that the longer the customers spend deciding what to purchase, the less likely they are to purchase more items. In order to determine the average time customers spend in purchasing toys from the store, the management employs Tim to observe the customers as they discuss which toys to buy. He then reports his findings to the management. In this scenario, Tim is engaging in _____.

Answer: observation research

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Question: In the context of strategies for selecting target markets, which of the following is a disadvantage of an undifferentiated targeting strategy?

Answer: It often results in sterile, unimaginative product offerings that have little appeal to anyone

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Question: Companies that successfully implement customer relationship management tend to

Answer: customize the goods and services offered to their customers

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Question: A difference between traditional surveys and Internet surveys is that, internet surveys:

Answer: can be personalized for greater relevance to each respondent.

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Question: In which of the following ways does marketing research help managers?

Answer: It helps them serve their customers accurately and efficiently

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Question: Which of the following statements is true of one-way frequency counts?

Answer: They simply record the responses to a question.

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Question: Which of the following is a criticism of online panel providers?

Answer: They lead to biased and misleading results as members receive incentives to join the panel.

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Question: Which of the following is a similarity between in-home personal interviews and executive interviews?

Answer: Both involve traveling to an interviewee's location.

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