Marketing Concepts
Mock Exam
Course Introduction
Marketing Concepts explores the fundamental principles and strategies used to identify, anticipate, and satisfy customer needs profitably. Covering essential topics such as market segmentation, targeting, positioning, consumer behavior, and the marketing mix (product, price, place, promotion), this course provides a comprehensive understanding of how organizations create value and build strong customer relationships in dynamic market environments. Students will also examine contemporary marketing trends, ethical considerations, and global perspectives, equipping them with analytical tools and practical skills necessary for successful decision-making in diverse business settings.
Recommended Textbook
MKTG 11th Edition by Charles W. Lamb
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19 Chapters
1236 Verified Questions
1236 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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Sample Questions
Q1) Livin' Styles, a home décor company, is well known for its varieties of designs. The management of Livin' Styles collaborates with its customers and co-creates designs. This is an example of _____.
A)following a sales orientation
B)focusing on environmental value
C)delegating authority
D)creating customer value
Answer: D
Q2) Which of the following statements is true of market-oriented firms?
A)They offer their customers everything they want.
B)They produce goods and services for everybody.
C)They use minimal promotion for high-quality products.
D)They create the benefits their customers seek.
Answer: D
Q3) Which of the following statements is true of marketing?
A)It is more of a philosophy than an organizational function.
B)It is focused solely on selling goods, services, and ideas.
C)It rewards the seller and not the buyer of a transaction.
D)It focuses on delivering value and benefits to customers.
Answer: D
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Chapter 2: Strategic Planning for Competitive Advantage
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) According to the General Electric model for strategic alternatives, conditions that have low overall attractiveness are the best candidates for investment.
A)True
B)False
Answer: False
Q2) A diversification strategy is free of risk when a firm is entering unfamiliar markets.
A)True
B)False
Answer: False
Q3) In the context of a marketing mix, which of the following business activities is closely associated with promotion?
A)Usage of social media to increase products sales
B)Deciding to increase prices of products
C)Changing the appearance of the product packaging
D)Ways to improve product quality
Answer: A
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Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) Conventional morality is the most basic level of ethical development.
A)True
B)False
Answer: False
Q2) Business gift giving is considered the most unacceptable business practice in China.
A)True
B)False
Answer: False
Q3) Which of the following statements is true of morals?
A)They are universal and seldom vary.
B)They are independent of factors such as culture and religion.
C)They reflect the laws and regulations that affect social and economic behavior.
D)They set absolute standards for good and bad that are enforced by the law.
Answer: C
Q4) Social responsibility can produce only an indirect profit.
A)True
B)False
Answer: False
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Page 5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) Business firms can stimulate innovation by:
A)hiring employees who have low risk tolerance.
B)letting employees know that they have the freedom to fail.
C)using micromanagement techniques.
D)talking to late adopters.
Q2) Gross domestic product is the total market value of all final goods and services produced during a period of time.
A)True
B)False
Q3) Discuss competitive factors that affect a firm.
Q4) Gen Xers tend to be frugal and seek value when making purchases.
A)True
B)False
Q5) Which of the following statements is true of today's consumers in the United States?
A)They emphasize on a product's price rather than its quality.
B)They seldom give preference to brand names.
C)They are concerned about the nutrition in their food.
D)They tend to choose products that are expensive.
Q6) Discuss the relationship between businesses and governments.
Page 6
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) Which of the following is a reason for practicing outsourcing in the United States?
A)Increased corporate growth
B)Chances of increased production delays
C)Rising wages in the developing world
D)Improperly designed parts and products in foreign countries
Q2) Which of the following is a factor that drives the popularity of imports in the United States?
A)Lower wages compared to that of other countries
B)Higher number of employees in the countries from where goods are imported
C)Higher prices of products in the countries from where the goods are imported
D)Lower capacity of the equipment used for production in the exporting countries
Q3) Explain the major role played by the Internet and social media in global marketing.
Q4) Which of the following is a similarity between joint ventures and licensing agreements?
A)Both involve joining with a foreign company to create a new entity.
B)Both depend heavily on contract manufacturing.
C)Both are free from government interference.
D)Both are free from risks.
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Page 7
Chapter 6: Consumer Decision Making
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Sample Questions
Q1) Consumers try to reduce dissonance by justifying their purchase decision.
A)True
B)False
Q2) _____ is an example of routine response behavior.
A)Booking a cruise vacation
B)Buying an $800 personal computer
C)Buying an air conditioner for the first time
D)Purchasing groceries
Q3) How well a consumer's expectations are met from a product determines whether the consumer is satisfied or dissatisfied with the purchase.
A)True
B)False
Q4) Linda usually does not spend much time selecting gifts while buying them. However, when buying a pen for her husband's birthday, she visited several stores and spent a lot of time selecting the pen. This scenario is an example of _____.
A)product involvement
B)situational involvement
C)shopping involvement
D)enduring involvement
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Chapter 7: Business Marketing
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Sample Questions
Q1) A consumer product is also known as an industrial product.
A)True
B)False
Q2) Vactin Corp., a construction company, buys ten truckloads of cement for its new project. Given this information, the cement bought is an example of a(n) _____.
A)consumer product
B)service product
C)industrial product
D)unsought product
Q3) Which of the following statements is true of relationship marketing?
A)For many suppliers, retaining their current customers has become a secondary focus in relationship marketing.
B)Business suppliers use social networking sites sparingly as these sites discourage businesses from shopping for all their needs.
C)Loyal customers are less profitable than those who are price sensitive and perceive no difference among brands or suppliers.
D)Relationship marketing has become more important than before because competition has becoming more intense.
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9
Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) A firm using a(n) _____ essentially adopts a mass-market philosophy, viewing the market as one big market with no individual segments.
A)undifferentiated targeting strategy
B)niche targeting strategy
C)individual targeting strategy
D)concentrated targeting strategy
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. In this context, these demographic variables are examples of _____.
A)positioning bases
B)segmentation bases
C)product classes
D)market positions
Q3) With the personal and targeted nature of customer relationship management (CRM), consumers spend more time making purchase decisions.
A)True
B)False
Q4) Explain the steps involved in segmenting a market.
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Chapter 9: Marketing Research
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Sample Questions
Q1) Which of the following best defines the term secondary data?
A)It refers to data that has not been proven and is in the form of assumptions.
B)It refers to raw data that has not been processed.
C)It is data previously collected for any purpose other than the one at hand.
D)It is data collected for the first time to solve a problem.
Q2) Which of the following statements is true of nonprobability samples?
A)In a nonprobability sample, the probability of selection of each sampling unit is not known.
B)Nonprobability samples are expensive.
C)In a nonprobability sample, every element has a known statistical likelihood of being selected.
D)Nonprobability samples cannot be used in marketing research.
Q3) The _____ of marketing research is to address "what if" questions.
A)predictive function
B)diagnostic function
C)prescriptive function
D)descriptive function
Q4) Briefly discuss web community research.
Q5) Briefly discuss probability samples and nonprobability samples.
Q6) Explain the importance of marketing research in marketing decision making.
Page 11
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Chapter 10: Product Concepts
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Sample Questions
Q1) A difference between informational labeling and persuasive labeling is that informational labeling:
A)focuses on a promotional theme or logo rather than on consumer information.
B)increases a consumer's cognitive dissonance after a purchase.
C)helps a consumer make proper product selections when making a purchase.
D)gives an impression of environmental friendliness to a product.
Q2) Which of the following statements is true of product lines?
A)They limit the product choices offered to customers to one or two product items.
B)They provide economies of scale in advertising.
C)They require greater transportation and warehousing costs than product items.
D)They increase a firm's manufacturing and inventory costs.
Q3) An implied warranty is a written guarantee that the good or service is fit for the purpose for which it was sold.
A)True
B)False
Q4) Washers, dryers, refrigerators, and televisions are examples of unsought products.
A)True
B)False
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Page 12
Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Steven, a construction worker, tends to buy a new gadget if most of his friends have them. He relies on reviews from his friends rather than on television or newspaper advertisements to make his purchase decisions. It can be inferred that Steven belongs to the category of _____ in the diffusion of innovation.
A)laggards
B)innovators
C)the late majority
D)the early majority
Q2) What are the major implications of the new-product development process and the diffusion process to marketing managers?
Q3) The product life cycle (PLC) for a brand is usually longer than the PLC for a product form.
A)True
B)False
Q4) The growth stage of the product life cycle (PLC) represents the full-scale launch of a new product into the marketplace.
A)True
B)False
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Chapter 12: Services and Nonprofit Organization Marketing
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61 Flashcards
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Sample Questions
Q1) In the context of service processes, _____ takes place when the service is directed at a customer.
A)information processing
B)possession processing
C)mental stimulus processing
D)people processing
Q2) Briefly explain what service firms must do to be successful in the global marketplace.
Q3) Each part of a firm's service mix should make a different contribution to achieving its goals.
A)True
B)False
Q4) A(n) _____ is a characteristic that can be assessed only after use.
A)search quality
B)credence quality
C)experience quality
D)intangible quality
Q5) Explain the factors that should be emphasized when deciding distribution strategies for service organizations.
Q6) Describe the four promotion strategies that marketers use to promote services.
Page 14
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Chapter 13: Supply Chain Management and Marketing Channels
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72 Flashcards
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Sample Questions
Q1) How does the supply chain management of the mass production era differ from the supply chain management practiced today?
Q2) A strategic channel alliance is a cooperative agreement between business firms to use the other's already established distribution channel.
A)True
B)False
Q3) _____ refers to the elements of the composition and appearance of a product that make it desirable.
A)Form utility
B)Time utility
C)Exchange utility
D)Place utility
Q4) _____ is a form of distribution aimed at maximum market coverage.
A)Narrow distribution
B)Intensive distribution
C)Selective distribution
D)Exclusive distribution
Q5) Explain the product factors that affect the selection of a distribution channel.
Q6) What are the disadvantages of globalizing a company's supply chain?
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Chapter 14: Retailing
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Sample Questions
Q1) Briefly explain the process of defining a target market.
Q2) The Hunt, a liquor store, is famous for its unique and extensive collection of alcoholic beverages. Its employees possess up-to-date knowledge of the liquor available in the store, which allows them to assist customers in their purchasing decisions. The Hunt is an example of a _____.
A)supermarket
B)specialty store
C)warehouse club
D)convenience store
Q3) _____ is the technique used to sift through the data collected by point-of-purchase scanning equipment.
A)Big data analysis
B)Shopper marketing
C)Market-basket analysis
D)Shopper analytics
Q4) Unlike supermarkets, convenience stores:
A)charge lower prices.
B)carry a much more limited line of high-turnover convenience goods.
C)enable customers to shop without visiting a physical store location.
D)offer no service to customers.
Page 16
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Chapter 15: Marketing Communications
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60 Verified Questions
60 Flashcards
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Sample Questions
Q1) Which of the following statements is a difference between paid media and earned media?
A)Paid media is based on the traditional advertising model, whereas earned media is based on a publicity or public relations model.
B)Paid media gets people to talk about the brand, whereas earned media requires a brand to purchase media space.
C)Paid media uses media coverage through word of mouth, whereas earned media uses display advertising on websites for promotion.
D)Paid media is created when people talk and share content on social media, whereas earned media includes radio or newspaper advertising.
Q2) The _____ is the combination of advertising, personal selling, sales promotion, social media, and public relations and is used to reach the target market and fulfill an organization's overall goals.
A)product mix
B)retailing mix
C)distribution mix
D)promotional mix
Q3) Explain interpersonal and mass communication.
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Chapter 16: Advertising, Public Relations, and Sales Promotion
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Sample Questions
Q1) _____ is the element in the promotional mix that evaluates the public's attitudes, identifies issues that may elicit their concern, and executes programs to gain their understanding and acceptance.
A)Personal selling
B)Cooperative advertising
C)Sales promotion
D)Public relations
Q2) An alternative to a commercial spot is _____, a thirty-minute or longer advertisement, which is relatively inexpensive to produce and air.
A)a podcast
B)a premium
C)sweepstakes
D)an infomercial
Q3) In the context of campaign evaluation, testing ad effectiveness can be done only after the advertising campaign is over.
A)True
B)False
Q4) How is sales promotion cheaper and easier to measure than advertising? Explain using an example.
Page 18
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Chapter 17: Personal Selling and Sales Management
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Sample Questions
Q1) Which of the following is a combination of sales automation and Internet technology that some marketers are using in an effort to enhance customer satisfaction and bring in more business?
A)The preapproach model
B)The attribution model
C)Geolocation home automation
D)Automated e-mail follow-up marketing
Q2) _____ describes the ''homework'' that must be done by a salesperson before he or she contacts a prospect.
A)Prequalification
B)Preapproach
C)Networking
D)Cold calling
Q3) Personal selling provides a brief and precise explanation of the product.
A)True
B)False
Q4) A sales manager's only job is to maximize sales at a reasonable cost while also maximizing profits.
A)True
B)False
Page 19
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Chapter 18: Social Media and Marketing
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Sample Questions
Q1) Social news sites combine the fun of social networking with the utility of location-based global positioning system technology.
A)True
B)False
Q2) Which of the following treats location-based micronetworking as a game?
A)Facebook
B)Twitter
C)WordPress
D)Foursquare
Q3) Facebook is by far the largest social network for gaming.
A)True
B)False
Q4) Corporate blogs are easy to maintain because they do not require in-depth writing or monitoring of comments.
A)True
B)False
Q5) Explain the role of social media in marketing.
Q6) Describe the different mobile marketing tools.
Q7) Distinguish between owned media and earned media with examples.
Q8) Explain the reasons for the recent popularity of mobile marketing.
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) Inelastic demand is a situation in which:
A)an increase or a decrease in price does not significantly affect the demand for a product.
B)prices are adjusted over time to maximize a company's revenues.
C)demand is created for new products by aggressive brand awareness campaigns.
D)a pricing objective maintains existing prices or meets the competition's prices.
Q2) According to garment makers, the demands of large customers are nearly wiping out profits for all but the very large suppliers.
A)True
B)False
Q3) _____ is sometimes called a "market-plus" approach to pricing because it denotes a high price relative to the prices of competing products.
A)Price skimming
B)Price fixing
C)Status quo pricing
D)Bait-and-switch pricing
Q4) Explain the concept of price lining as a pricing tactic for fine-tuning the base price.
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21