Business Marketing Exam Bank
Course Introduction
Business Marketing explores the principles, strategies, and practices involved in marketing products and services to other businesses rather than to individual consumers. The course covers topics such as market segmentation, business buying behavior, relationship management, value creation, and supply chain management within a business-to-business (B2B) context. Students will learn how organizations identify opportunities, develop marketing strategies, and build long-term partnerships with clients and stakeholders. Practical case studies and real-world applications are integrated to help students understand how to analyze market potential, develop effective marketing plans, and make informed decisions in complex business environments.
Recommended Textbook
MKTG 9 9th Edition by Charles W. Lamb
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Page 2
Chapter 1: An Overview of Marketing
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Q1) Which of these statements is true about customer relationship management?
A)It involves linking all processes of the company from its customers through its suppliers.
B)It tries to convince potential customers to buy,even if the seller knows that the customer and product are mismatched.
C)It is used more by sales-oriented firms than market-oriented firms.
D)It is most extensively used by production-oriented firms.
Answer: A
Q2) A production-oriented firm focuses on its internal capabilities.
A)True
B)False
Answer: True
Q3) The societal marketing orientation extends the marketing concept by acknowledging that some products that customers want may not really be in their best interests or the best interests of society as a whole.
A)True
B)False
Answer: True
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Chapter 2: Strategic Planning for Competitive Advantage
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Q1) Which of the following practices can help businesses gain a cost competitive advantage?
A)Innovating simplified production techniques
B)Using expensive raw materials
C)Customizing products with extra frills
D)Manufacturing products in smaller quantities
Answer: A
Q2) An ideal marketing penetration strategy would be to offer cash backs and discounts on products to customers.
A)True
B)False
Answer: True
Q3) A company's skills are functions-such as customer service and promotions-that the firm performs better than its competitors.
A)True
B)False
Answer: True
Q4) A marketing mix typically encompasses__________strategies. Answer: pricing
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Chapter 3: Ethics and Social Responsibility
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Q1) The Foreign Corrupt Practices Act:
A)applies exclusively cases of financial misrepresentations made by foreign corporations that have entered into contracts with U.S.corporations.
B)prohibits U.S.corporations from entering into contracts with foreign corporations.
C)applies exclusively to foreign corporations in the U.S.
D)prohibits U.S.corporations from bribing public officials of foreign governments.
Answer: D
Q2) Delta Inc.is a large organization that believes in serving the community it operates in.The organization conducts several campaigns about health awareness and also provides donations to nonprofit organizations working on such causes.Delta is illustrating__________.
Answer: corporate social responsibility
Q3) In the context of determinants of civil society,__________involves the voluntary acceptance of standards established by nongovernmental entities.
Answer: self-regulation
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Chapter 4: The Marketing Environment
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Q1) Stephen can file a complaint against an electronics retailer for incessantly sending him e-mails promoting their company's products under the _____.
A)Sarbanes Oxley Act
B)Child Protection Act
C)Children's Online Privacy Protection Act
D)CAN-SPAM Act
Q2) The _____ is a government body that has the power to prescribe mandatory safety standards for almost all products used by customers.
A)Health and Welfare Agency
B)Consumer Product Safety Commission
C)Environmental Safety Administration
D)Product Quality Commission
Q3) After Hal Li purchased and installed a wood-burning stove to heat his home,the stove caught fire and damaged much of the house.He believes the stove had inadequate insulation.Hence,Li should voice his concerns to the Federal Trade Commission.
A)True
B)False
Q4) The Bureau of Competition__________.
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Chapter 5: Developing a Global Vision
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Q1) __________are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries.
Q2) Which of the following is true of franchising?
A)It is a form of contract manufacturing.
B)It has grown rapidly in recent years.
C)It is restricted to the market of fast-food restaurants.
D)It requires an export agent and an export broker to be successful.
Q3) A company is most likely doomed to failure in a foreign country if it _____.
A)does not understand the country's culture
B)does not emphasize its home country's language over that of the country
C)varies its marketing mix based on the country's economic growth
D)pays attention to the country's demographics
Q4) A(n)_____ is a limit on the amount of a specific product that can enter a country.
A)quota
B)tariff
C)boycott
D)exchange control
Q5) A company is most likely doomed to failure in a foreign country if it__________.
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Chapter 6: Consumer Decision Making
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Q1) A(n)__________is an organized pattern of knowledge that an individual holds as correct about his or her world.
Q2) _____ refers to how an individual actually perceives himself or herself.
A)Self-esteem
B)Self-actualization
C)Ideal self-image
D)Real self-image
Q3) Andrea booked a trip to an exotic island as a gift to her husband,Bill,for their tenth wedding anniversary.Andrea is anxious because she is afraid Bill will not like her choice of location.She is also worried as she spent too much money for the trip.In this scenario,Andrea is experiencing__________.
Q4) Marketers often try to create opinion leaders as it is rare to find an opinion leader who spans multiple diverse domains.
A)True
B)False
Q5) Marketing managers often use in-store promotions to stimulate the sales of products for which consumers may not recognize their wants until they are in a store.Such products can be categorized as__________products.
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Chapter 7: Business Marketing
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Q1) In a buying center,the person who has the formal or informal power to choose or approve the selection of a supplier or brand is known as the _____.
A)decider
B)purchaser
C)gatekeeper
D)influencer
Q2) Content marketing is extremely important for businesses that want to deliver valuable content for their customers.Provide arguments to justify this statement.
Q3) Items such as sheet metal,treated lumber,corn syrup,and plastics are examples of _____.
A)raw materials
B)processed materials
C)installations
D)MRO supplies
Q4) __________are expense items that do not become part of a final product.
Q5) TomSauce,a brand of tomato sauce,advertises that the tomatoes it uses are processed within 24 hours of being picked to ensure product freshness.In this scenario,the fresh tomatoes are examples of__________.
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Chapter 8: Segmenting and Targeting Markets
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Q1) The purpose of market segmentation is to enable a marketer to tailor marketing mixes to meet the needs of specific segments.
A)True
B)False
Q2) 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 _____.
A)positioning bases
B)market segments
C)perceptual maps
D)market positions
Q3) Tennot Designs Inc.manufactures and sells clothes and shoes to people who are over 6'6" tall - a rather small target market.Given this information,Tennot Designs Inc.uses a(n)__________targeting strategy.
Q4) The final step in market segmentation is designing,implementing,and maintaining appropriate marketing mixes.
A)True
B)False
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Chapter 9: Marketing Research
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Q1) Marketing research helps managers gauge the perceived value of their goods and services,as well as the level of customer satisfaction.
A)True
B)False
Q2) Which of the following is a criticism of online panels?
A)They lead to biased and misleading results as members receive incentives to join the panel.
B)They require the presence of a moderator to control the discussion.
C)They lead to incorrect results as panel providers are not permitted to select panel members based on the current requirement.
D)They involve very long discussion times as panel members discuss among themselves while offering suggestions.
Q3) __________data is defined as data that has been previously collected for any purpose other than the one at hand.
Q4) Though field service firms specialize in conducting interviews on subcontracted basis,they also provide focus group facilities.
A)True
B)False
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Chapter 10: Product Concepts
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Q1) __________is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly.
Q2) _____ is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly.
A)Greenwashing
B)Green hosting
C)Astroturfing
D)Cooperative branding
Q3) Explain the importance of product offering in creating a marketing mix.
Q4) Explain planned obsolescence with at least two examples.Discuss if planned obsolescence is ethical or unethical.
Q5) An organization's product mix includes all of the products it sells.
A)True
B)False
Q6) Frieda was disappointed to notice that her new phone had several scratches on its screen.If she had known about the clear protective films that were available to protect the phone display from scratches,she could have avoided this problem.For Frieda,the protective films were__________.
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Chapter 11: Developing and Managing Products
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Q1) Explain in detail the importance of the Internet for implementing simultaneous product development.
Q2) Daily Farm is a manufacturer of consumer goods such as foods,beverages,cleaning agents,and personal care products.It is expected to introduce more than ten new products in the next two years.One of the products is a spicier variant of its tomato ketchup aimed at the baby boomer market.Which of the following categories of new products will the spicier ketchup represent?
A)Repositioned product
B)Revision of existing product
C)New product line
D)Addition to existing product line
Q3) The maker of Protect Your Hands hand sanitizer decided to test its consumers' reactions to one of its new products,Protect Your Hands Sanitizing Wipes.It sent out flyers advertising several of the company's products along with the new product to select customers of the target market.The flyer also asked the customers to shop in a mock store filled with real products,including the new product.In this case,the maker of Protect Your Hands has used__________.
Q4) The business analysis stage of a new-product development process__________.
Q5) Explain in detail why a large proportion of new product introductions fail?
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Chapter 12: Services and Nonprofit Organization Marketing
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Q1) A bundled price is preferable when:
A)different customers have different needs.
B)firms customize services for each individual customer.
C)consumers dislike having to pay extra for every part of a service.
D)firms want to charge for their supplementary services separately.
Q2) When is a service mix effective?
Q3) When a firm develops structural bonds with its customers by offering unique value added services,it is operating at__________of relationship marketing.
Q4) For time-dependent service providers such as airlines,physicians,and dentists,scheduling is often a more important factor than location.
A)True
B)False
Q5) The Internet is a form of indirect service distribution.
A)True
B)False
Q6) Goods tend to be less standardized and uniform than services because they have greater heterogeneity.
A)True
B)False
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Chapter 13: Supply Chain Management
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Q1) Which of the following is a disadvantage of using a manual,non-automated materials-handling system?
A)Increases risk of damage
B)Decreases product handling
C)Lowers customer stockouts
D)Increases time utility
Q2) The goal of inventory management is to:
A)minimize inventory levels while maintaining an adequate supply of goods to meet customer demands.
B)maintain the highest possible inventory of raw materials and finished goods as buffer stocks.
C)act as an alternative to supply chain management in firms.
D)create regular customer stockouts so that the demand for products increases.
Q3) In the customer relationship management (CRM)process,once higher-value customers are identified,firms should focus on identifying and attracting other groups by providing them with customized products and better services.
A)True
B)False
Q4) Explain in detail the functions of the customer relationship management process.
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Chapter 14: Marketing Channels
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Q1) Which of the following is true of nontraditional channels?
A)They detract from the profitability of the primary and secondary channels controlled by a business.
B)They are used to sell stolen or counterfeited products.
C)They enable a consumer to return a product when it reaches the end of its useful life.
D)They help differentiate a firm's product from the competition.
Q2) Mezjo Inc.is a video store that sells DVDs and also sells popcorn,candy,soft drinks,and entertainment publications.It stores all of these products in separate warehouses and uses different modes of transportation to deliver them.Which of the following functions is described in this scenario?
A)Transactional functions
B)Research functions
C)Logistical functions
D)Financing functions
Q3) Retailers simplify distribution by cutting the number of transactions required by consumers,making an assortment of goods available in one location.
A)True
B)False
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Chapter 15: Retailing
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Q1) The technique used to sift through data collected by point-of-purchase scanning equipment is called _____.
A)big data analysis
B)shopper marketing
C)market-basket analysis
D)shopper analytics
Q2) At the store level,tactical retailing goals include decrease in store traffic and lower sales of specific items.
A)True
B)False
Q3) Delta Company recruits and trains college students to sell educational reference books,software,and children's books door-to-door.This form of retailing is called:
A)direct retailing.
B)online retailing.
C)off-price retailing.
D)in-store retailing.
Q4) __________are inventories displayed for sale to customers.
Q5) __________compete on the basis of low prices,high turnover,and high volume.
Q6) What is a target market?
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Chapter 16: Marketing Communications
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Q1) Initially,social media tools were used primarily for self-expression.
A)True
B)False
Q2) A beverage company plans to launch a new energy drink.It decides to partly sponsor a marathon in the city.It places billboards and posters describing the new drink throughout the marathon route.Company representatives distribute flyers to people arriving to watch the marathon.The company also issues press releases as part of the product launch.Therefore,the company is executing a:
A)sales promotion campaign.
B)personal selling campaign.
C)target marketing strategy.
D)public relations strategy.
Q3) __________consists of all marketing activities that stimulate consumer purchasing,such as coupons,contests,free samples,and trade shows.
Q4) Personal selling,unlike other promotional mix elements,is independent of the Internet.
A)True
B)False
Q5) __________promotion is designed to stimulate a purchase or an action.
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Chapter 17: Advertising, public Relations, and Sales Promotion
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Q1) The advertising response function helps marketers:
A)create ads that will be noticed by consumers each time the ad runs.
B)use their advertising budgets wisely.
C)calculate the break-even points for each product being advertised.
D)determine the reach and frequency of a specific medium
Q2) _____ is a form of advertising designed to enhance a company's image rather than promote a particular product.
A)Institutional advertising
B)Pioneering advertising
C)Competitive advertising
D)Comparative advertising
Q3) A(n)__________is the channel used to convey a message to a target market.
Q4) An advertising campaign:
A)may contain a wide variety of themes and slogans.
B)extends for a defined period of time.
C)acts as a base for defining an advertising objective.
D)starts with determining the appropriate media for the campaign.
Q5) How is a sales promotion cheaper and easier to measure than advertising? Explain using an example.
Q6) A disadvantage of newspaper advertising is that it has__________. Page 19
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Chapter 18: Personal Selling and Sales Management
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Q1) Kay and Jenny's,a restaurant,has implemented a new system that identifies and gathers information about its regular customers.It rewards the regular customers by giving them gift coupons and cash prizes.This is most likely an example of a(n)__________system.
Q2) A good salesperson considers objections a hindrance to the purchase decision.
A)True
B)False
Q3) A sales presentation is a written document or professional presentation that outlines how a company's product or service will meet or exceed the client's needs.
A)True
B)False
Q4) _____ is a sales practice that involves building,maintaining,and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships.
A)Price-based selling
B)Adaptive selling
C)Stimulus-response selling
D)Relationship selling
Q5) Why do effective negotiators avoid using price as a negotiation tool?
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Chapter 19: Social Media and Marketing
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Q1) A review site allows consumers to post,read,rate,and comment on opinions regarding a wide variety of goods and services.
A)True
B)False
Q2) Social media measurements are meaningless if:
A)they require further processing.
B)they are tied to performance indicators.
C)they are taken from many sources.
D)they lack context.
Q3) __________is the process of identifying and assessing what is being said about a company,individual,product,or brand.
Q4) In the context of the eight stages of effective listening,which of the following is a purpose of stage one,listening without objectives?
A)Identifying influencers to improve overall marketing strategy
B)Measuring impact of satisfaction or frustration during interaction
C)Generating high sense of satisfaction for customers
D)Keeping up with brand and competitor information
Q5) Distinguish between owned media and earned media with examples.
Q6) Explain the role of social media in marketing.
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Chapter 20: Pricing Concepts
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Q1) Consumers are more likely to perceive the value of a product to be less than its cost if:
A)the product's price is set too high.
B)the product's manufacturer gains very little profit from the product.
C)the product has an inelastic demand.
D)the product's demand and supply attain the state of price equilibrium.
Q2) When the price of a product is set at a level where demand and supply are the same,a state of _____ has been achieved.
A)price equilibrium
B)stability
C)inelastic demand
D)symmetry
Q3) When Jerry took delivery of his brand new Karuaf automobile,he was filled with pleasure and excitement as Karuaf is a very expensive brand.This is an example of the__________effect associated with the price-quality relationship.
Q4) An effective distribution network can sometimes overcome other minor flaws in the marketing mix.
A)True
B)False
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Chapter 21: Setting the Right Price
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Q1) When executives from competing firms meet to decide which of them will submit the lowest bid on a contract,they are indulging in _____.
A)price discrimination
B)price fixing
C)bait pricing
D)penetration pricing
Q2) __________is a price tactic that requires a buyer to absorb the freight costs of a product from the shipping point.
Q3) A__________is a price reduction offered to a consumer,an industrial user,or a marketing intermediary in return for prompt payment of a bill.
Q4) A price skimming strategy is most often used for a new product when:
A)competition in the market is abundant.
B)customers are unwilling to spend a large amount of money on the product.
C)its supply is greater than its demand.
D)the product is perceived as having unique advantages.
Q5) 99-Center Inc.is a retail store where all its merchandise is priced at 99 cents.This retailer uses a__________.
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