Business Marketing
Exam Solutions
Course Introduction
Business Marketing explores the principles and practices involved in marketing goods and services to organizational buyers, including companies, government agencies, and institutions. The course covers key topics such as business market segmentation, buying behavior, relationship management, and channel strategies. Students will examine how market research, product development, pricing, distribution, and promotional tactics are tailored to meet the complex needs of business customers. Through case studies and real-world applications, the course emphasizes strategic decision-making and the development of effective marketing plans in business-to-business (B2B) environments.
Recommended Textbook
Marketing The Core 7th Edition by
Roger A. Kerin
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19 Chapters
5345 Verified Questions
5345 Flashcards
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Page 2
Chapter 1: Creating Customer Relationships and Value
Through Marketing
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240 Verified Questions
240 Flashcards
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Sample Questions
Q1) All of the following are current or prospective distribution channels for Chobani yogurt except which?
A) convenience stores
B) drugstores
C) mass merchandisers
D) schools
E) vending machines
Answer: E
Q2) The value to consumers that comes from having the offering available when they need it constitutes __________ utility.
A) place
B) possession
C) market
D) time
E) form
Answer: D
Q3) What are the three components of a person's ability to buy an offering?
Answer: The three components of a person's ability to buy an offering are authority,time,and money.
Page 3
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Chapter 2: Developing Successful Organizational and Marketing Strategies
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363 Verified Questions
363 Flashcards
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Sample Questions
Q1) Which of the following statements regarding an organization's strategic business unit level is most accurate?
A) The strategic business unit level is the level that works most directly with an organization's targeted customers.
B) The overall strategy for the organization is directed at the strategic business unit level.
C) In the most complex organizations, the corporate level and the strategic business unit level may merge.
D) More end-user analysis is provided at the strategic business unit level than at the functional level.
E) The strategic direction is more specific at the strategic business unit level than at the corporate level.
Answer: E
Q2) Explain the steps in the evaluation phase of the strategic marketing process.
Answer: The evaluation phase of the strategic marketing process seeks to keep the marketing program moving in the direction set for it (
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Chapter 3: Understanding the Marketing
Environment,ethical Behavior,and Social Responsibility
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350 Verified Questions
350 Flashcards
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Sample Questions
Q1) Demographic characteristics that describe a population include all of the following except which?
A) income.
B) age.
C) occupation.
D) zip code.
E) ethnicity.
Answer: D
Q2) Chrysler recycles thousands of tons of wood pallets,cardboard,and paper annually.Chrysler cars are 75 percent recyclable.Chrysler's recycling programs are examples of
A) recycle marketing.
B) cause marketing.
C) green marketing.
D) environmental marketing.
E) triple-top line marketing.
Answer: C
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Page 5
Chapter 4: Understanding Consumer Behavior
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364 Flashcards
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Sample Questions
Q1) Which of the following statements about the family life cycle is most accurate?
A) The majority of households today are composed of traditional families.
B) Income and gender are two of the variables considered in the family life cycle.
C) Young singles represent a target market for recreational travel, automobiles, and consumer electronics.
D) Singles with no children are more likely to buy life insurance than any other group.
E) The most financially secure group of any family life cycle stage is single parents with children.
Q2) Scanning memory for previous experiences and also exploring the external environment represent which stage of the consumer purchase decision process
A) information search.
B) purchase decision.
C) alternative evaluation.
D) opportunity identification.
E) problem evaluation.
Q3) Why is learning important to marketing?
Q4) Explain how attitudes are shaped by our values and beliefs.
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6
Chapter 5: Understanding Organizations As Customers
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208 Flashcards
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Sample Questions
Q1) European Style Furniture (ESF),headquartered in New York,acquires fine furniture from several high quality manufacturers in Europe and enjoys exclusive distribution rights from them to sell to furniture stores throughout the United States.In this context,ESF is most likely classified as
A) a producer.
B) a reseller.
C) a service provider.
D) a government agency.
E) an industrial firm.
Q2) Important market characteristics in organizational buying behavior include which of the following?
A) Organizational buying behavior is similar to consumer buying behavior since individuals are involved in both processes.
B) Demand for industrial products is elastic instead of inelastic.
C) Demand for industrial products and services is derived.
D) Purchase orders are much more frequent and they are usually small.
E) Forecasting is not as important in organizational buying as in consumer buying.
Q3) List seven organizational buying criteria.
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Chapter 6: Understanding and Reaching Global
Consumers and Markets
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234 Flashcards
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Sample Questions
Q1) In recent years,a number of countries with similar economic goals have formed transnational trade groups or signed trade agreements for the purpose of promoting free trade.Describe the two discussed in the textbook.
Q2) Offering the right to a trademark,patent,trade secret,or similarly valued items of intellectual property in return for a royalty or fee is referred to as
A) direct exporting.
B) indirect exporting.
C) licensing.
D) contract manufacturing.
E) outside branding.
Q3) What global market entry strategy did Mary Kay use when it entered India?
A) direct importing
B) licensing
C) indirect exporting
D) joint venture
E) direct exporting
Q4) Three types of companies populate and compete in the global marketplace.Identify and describe each type.
Q5) Give at least one argument for and one argument against protectionism.
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Chapter 7: Marketing Research: From Customer Insights to Actions
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260 Verified Questions
260 Flashcards
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Sample Questions
Q1) Marketing information consists of secondary and primary data.Define each of these types of marketing information.Give examples for secondary and primary data.
Q2) Marketing teams must be vigilant in looking for ways to improve the analysis and results in order to learn lessons that might apply to future marketing research efforts.Evaluating the results of marketing research includes A) asking prospective customers if they are likely to buy the product during some future time period.
B) requesting the firm's salespeople to forecast sales during a coming period.
C) determining if the marketing research and analysis used to develop the recommendations was effective.
D) collecting projections from all regional sales managers and making projections based on a region-to-region basis.
E) collecting data from marketing experts about changes in the environment.
Q3) Briefly explain the best-known statistical method,trend extrapolation,used by marketers to develop a company's sales forecasts.In your explanation,explain the strengths and weaknesses of using this method.
Q4) How do movie studios use marketing research?
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Chapter 8: Market Segmentation, targeting, and Positioning
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201 Verified Questions
201 Flashcards
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Sample Questions
Q1) Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.
A) hierarchy of needs
B) perceptual map
C) marketing matrix
D) growth-share matrix
E) perception matrix
Q2) Tailoring products or services to the tastes of individual customers on a high-volume scale is referred to as
A) family branding.
B) mass customization.
C) product differentiation.
D) economies of scale marketing.
E) build-to-order.
Q3) A relatively homogenous group of prospective buyers that results from the market segmentation process is referred to as
A) a market segment.
B) a target market.
C) a customer base.
D) an ultimate consumer.
E) a preferred customer.
Page 10
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Chapter 9: Developing New Products and Services
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352 Verified Questions
352 Flashcards
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Sample Questions
Q1) Open innovation may enhance the __________ stage of the new-product development process.
A) internal collaboration
B) screening and evaluation
C) product development
D) new-product strategy development
E) idea generation
Q2) There are seven stages of the new-product development process.Stage 3 follows idea generation; it is the __________ stage.
A) tactic generation
B) screening and evaluation
C) screening and analysis
D) new-product strategy development
E) product assessment
Q3) Organizations attempt to reduce inconsistency in their services by
A) investing in modern manufacturing equipment.
B) reducing incentives available to employees because of poor performance.
C) reducing the customer contact points in the service delivery process.
D) providing standardization and training.
E) exercising better hiring practices.
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Chapter 10: Managing Successful Products, services, and Brands
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375 Verified Questions
375 Flashcards
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Sample Questions
Q1) The use of brand names is especially important for services because of which unique characteristic of services?
A) inventory costs
B) inseparability
C) inconsistency
D) invisibility
E) intangibility
Q2) When Apple introduced the Apple II personal computer in 1977,industry analysts predicted that very few would be sold.However,a short time after the product was made available,consumers who were young,highly educated,adventuresome,and well-informed began buying them.While those buyers were relatively few in number,marketers such as IBM and Compaq were encouraged because other,less adventuresome consumers,like businesspeople,would likely adopt personal computers later.Based on the diffusion of innovation concept,those first buyers of personal computers were
A) early adopters.
B) early majority.
C) innovators.
D) product leaders.
E) diffusion leaders.
12
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Chapter 11: Pricing Products and Services
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374 Verified Questions
374 Flashcards
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Sample Questions
Q1) A graphic presentation of the break-even analysis that shows the intersection of total revenue and total cost to identify profit or loss for a given quantity sold is referred to as a
A) Gantt chart.
B) demand curve.
C) ROI analysis.
D) cross-tabulation.
E) break-even chart.
Q2) In the break-even chart in Figure 11-6a,the triangular area GAF represents the firm's A) fixed costs.
B) break-even point.
C) variable costs.
D) profit.
E) total revenue.
Q3) What are the four kinds of discounts that are especially important in marketing pricing strategy?
Q4) What are the conditions favoring the use of penetration pricing?
Q5) Explain the price equation in the context of a new car purchase.
Q6) What is the difference between fixed costs and variable costs?
Page 13
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Chapter 12: Managing Marketing Channels and Supply Chains
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292 Verified Questions
292 Flashcards
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Sample Questions
Q1) Supply chain and logistics managers play a large part in the manufacture of automobiles.It is estimated that logistics costs account for __________ percent of the retail price you pay for a new car.
A) 1 to 2
B) 4 to 5
C) 8 to 10
D) 12 to 15
E) 25 to 30
Q2) Inspecting,testing,or judging products and assigning them quality grades is an example of a __________ function.
A) transactional
B) logistical
C) storing
D) facilitating
E) risk-taking
Q3) What are the functions performed by intermediaries?
Q4) Define and describe at least one similarity and one difference between dual distribution and a strategic channel alliance.
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Q5) What are some specific cost trade-offs that can be made in a logistics system?
Chapter 13: Retailing and Wholesaling
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330 Verified Questions
330 Flashcards
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Sample Questions
Q1) Scrambled merchandising refers to
A) displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point-of-purchase displays.
B) offering several unrelated product lines in a single store.
C) changing the position in which items are displayed in a store to create customer interest in a variety of product lines.
D) offering several related product lines in multiple stores.
E) offering several related product lines in a single store.
Q2) Markdowns can be used to
A) increase competition with other retailers in the immediate vicinity.
B) placate dissatisfied customers.
C) enhance customer perceptions of product quality.
D) increase demand for complementary products.
E) reduce the sense of urgency among repeat buyers.
Q3) Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.
Q4) Briefly describe the advantages of being an independent retailer and the benefits an independent retailer can offer customers.
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Page 15
Chapter 14: Integrated Marketing Communications and Direct Marketing
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289 Verified Questions
289 Flashcards
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Sample Questions
Q1) The European Union passed a law called the E-Privacy Directive to
A) provide explicit laws for website owners.
B) protect intellectual property.
C) increase data transparency.
D) reduce the instances of hacking.
E) allow consumers to access their search records.
Q2) Which promotional element would you most likely use during the growth stage of the product life cycle to solidify channels of distribution?
A) advertising
B) sales promotion
C) publicity
D) personal selling
E) direct marketing
Q3) The second stage in the hierarchy of effects is
A) interest.
B) awareness.
C) involvement.
D) trial.
E) evaluation.
Q4) Identify and briefly describe each of the five promotional elements.
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Chapter 15: Advertising, sales Promotion, and Public Relations
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323 Verified Questions
323 Flashcards
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Sample Questions
Q1) One problem with humorous appeals is that
A) their effectiveness may vary across cultures if used in a global campaign.
B) they contain no information to help consumers.
C) they do not appeal to women.
D) they do not stand out in a cluttered advertising climate.
E) they are usually only appropriate for Millennials.
Q2) Today,there are two popular variations of sweepstakes: one offers products that consumers value as prizes and the other offers
A) double or triple the face value of a coupon as the prize.
B) a free sample of the firm's product as the prize.
C) an "experience" as the prize.
D) a cash rebate for the purchase of the firm's product as the prize.
E) a BuyOneGetOne (BOGO) deal as the prize.
Q3) A consumer sales promotion tool that offers the return of money based on proof of purchase is known as a
A) premium
B) rebate
C) coupon
D) deal
E) product placement
Page 17
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Chapter 16: Using Social Media and Mobile Marketing to
Connect With Consumers
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161 Verified Questions
161 Flashcards
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Sample Questions
Q1) Blogs and wikis differ in that a blog is a diary that shows a __________,while a wiki shows the end result as a __________.
A) complete thought process; fragmented group of ideas
B) sequential journey; single entry
C) single entry; sequential journey
D) personal side of the user; formal presentation
E) long narrative; block of text
Q2) Smart systems are
A) computer-based networks that trigger actions by sensing changes in the real or digital world.
B) highly organized social media campaigns that use avatars to promote a brand. C) social networking sites that allow for people to keep in touch with photos, videos, and short-text entries.
D) financially successful social networking sites.
E) programs that provide measures of an ad's success on social networking sites.
Q3) Describe 5 of the 10 performance measures brand managers typically use to assess outputs or revenues of social media.
Q4) Describe the communications process of both traditional media and social media.
Q5) What are the four guidelines to engage fans on Facebook?
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Chapter 17: Personal Selling and Sales Management
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304 Verified Questions
304 Flashcards
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Sample Questions
Q1) Job analysis refers to
A) a thorough evaluation of a salesperson's performance based upon both input and output objectives.
B) a detailed assessment to determine what occurred at which stage in the selling process that prevented a qualified lead being converted into a sale.
C) a study of a particular sales position, including how the job is to be performed and the tasks that make up the job.
D) a protocol used to assign relative weights to various aspects of the selling process to create an individualized compensation plan.
E) a written document that describes the job relationships and requirements that characterize each sales position.
Q2) "Everyone lives by selling something" was an observation made by
A) Steve Jobs.
B) Ralph Waldo Emerson.
C) Donald Trump.
D) Robert Louis Stevenson.
E) Lindsey Smith.
Q3) Explain the difference between a lead,a prospect,and a qualified prospect.
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19
Chapter 18: Implementing Interactive and Multichannel Marketing
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248 Verified Questions
248 Flashcards
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Sample Questions
Q1) According to the eight-second rule,
A) it only takes eight seconds for someone to learn how to navigate a marketer's website.
B) any online purchase should take no more than eight seconds to complete.
C) prospective customers will not wait longer than eight seconds for a response in a chat room.
D) 50 percent of online consumers will spend less than eight seconds "surfing" a website. E) customers will abandon a website if download time exceeds eight seconds.
Q2) Six general product and service categories dominate online consumer buying,accounting for about 70 percent of online sales.One category includes regularly purchased consumer-packaged goods such as personal care items for which
A) customer value is the most important element.
B) price and delivery time are not key factors.
C) convenience is very important.
D) digital delivery is an important factor.
E) price and speed of delivery are the determinant sales factors.
Q3) Explain how the Pizza Hut website uses the seven website design elements.
Q4) How are transactional and promotional websites different?
Page 20
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Chapter 19: Building an Effective Marketing Plan
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Sample Questions
Q1) Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?
A) Does the prospective product meet all government safety standards?
B) Who is your competition and what are they doing?
C) Who will be your key suppliers?
D) Is there a clear market for the product or service?
E) What are your taxes?
Q2) The three key elements of the promotion strategy section in the Paradise Kitchens marketing plan are
A) quantity discounts, in-store demonstrations, a chili eating contest.
B) bundle pricing with a chili bowl, in-store demonstrations, and cents-off coupons.
C) a chili eating contest, in-store demonstrations, and cents-off coupons.
D) a contest for the best new slogan, a chili eating contest, and free taste tests at major grocery chains.
E) in-store demonstrations, recipes, and cents-off coupons.
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