Marketing Concepts Practice Exam
Course Introduction
Marketing Concepts provides an overview of the fundamental principles and practices within the field of marketing. The course introduces students to key topics such as market research, consumer behavior, segmentation, targeting, positioning, and the marketing mix (product, price, place, and promotion). Through case studies and real-world examples, students learn how organizations develop strategies to create value for customers and achieve organizational objectives. Emphasis is placed on understanding the dynamic marketing environment, ethical considerations, and the impact of digital technologies on marketing practices. This foundational course equips students with essential knowledge and skills for further study or careers in marketing and related fields.
Recommended Textbook
MKTG 11th Edition by Charles W. Lamb
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Page 2
Chapter 1: An Overview of Marketing
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Q1) Which of the following statements is true of customer relationship management?
A)It involves linking all processes of a 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 the 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) Which of the following statements is true of the marketing concept?
A)It states that an organization should satisfy customer wants and needs while meeting organizational objectives.
B)It overlooks the importance of understanding the competitive arena and strengths and weaknesses of competition.
C)It states that firms should give maximum importance to aggressive promotional and advertising activities.
D)It states that marketing solely means selling things and collecting money.
Answer: A
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3
Chapter 2: Strategic Planning for Competitive Advantage
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Q1) Which of the following statements is true of a niche strategy?
A)Only large companies can implement a niche strategy.
B)Companies that adopt a niche strategy have only a small number of customers.
C)Only the companies that do not have competitors can adopt a niche strategy.
D)Companies that adopt a niche strategy can only gain a price advantage over competitors.
Answer: B
Q2) _____ multiplied by the number of units sold equals total revenue for a firm.
A)Discount
B)Price
C)Overhead cost
D)Profit margin
Answer: B
Q3) In a target market strategy, identifying the market segment or segments begins with a market opportunity analysis (MOA).
A)True
B)False
Answer: True
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4
Chapter 3: Ethics and Social Responsibility
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Questions
Q1) Quasio Foods Inc. is a large food manufacturing corporation that earns more profits than its competitors. The company uses only organically grown grains and fruits. It also promotes organic farming and helps nonprofit agencies who focus on food and nutrition causes. The company has now decided to use a third-party recycling logo. In this scenario, Quasio Foods is most likely to have adopted the concept of _____.
A)relationship marketing
B)event marketing
C)green marketing
D)affinity marketing
Answer: C
Q2) The _____ compares a current ethical dilemma with examples of similar ethical dilemmas and their outcomes.
A)deontological theory
B)moral relativism theory
C)casuist ethical theory
D)utilitarian ethical theory
Answer: C
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Chapter 4: The Marketing Environment
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Q1) Which of the following statements is true of the external environment with regard to developing a marketing mix?
A)It is a standard variable that does not change.
B)It does not give an accurate estimation of the target market.
C)It is manually controlled to generate a marketing mix.
D)It continually molds and reshapes the target market.
Q2) The Bureau of Competition provides information and holds conferences and workshops for consumers, businesses, and policy makers on competition issues for market analysis.
A)True
B)False
Q3) Gross domestic product is the total market value of all final goods and services produced during a period of time.
A)True
B)False
Q4) Which of the following can be considered demographic information of a person?
A)Intelligence quotient level
B)Beliefs
C)Skill sets
D)Age
Page 6
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Chapter 5: Developing a Global Vision
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Q1) Currency markets operate under a system of _____, which is a system in which the prices of different currencies move up or down based on the demand for and the supply of each currency.
A)countertrade
B)floating exchange rates
C)dumping
D)contract manufacturing
Q2) Fresnas Corp., a company that designs and manufactures apparel, practices inshoring. Given this information, which of the following is most likely to be true of Fresnas Corp.?
A)It keeps its research team in close proximity.
B)It faces increased shipping and transportation costs.
C)It outsources its manufacturing jobs to other countries.
D)It faces a lot of production delays.
Q3) Of all the types of managers, the managers of global social media campaigns are the ones who need not be aware of the cultures of the countries in which they operate.
A)True
B)False
Q4) Explain franchising.
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Chapter 6: Consumer Decision Making
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Q1) How does marketing strategy differ based on the level of involvement associated with a product?
Q2) People in a subculture do not share the characteristics of the broader culture.
A)True
B)False
Q3) In the consumer decision making process, _____ extends customer interactions to new sources of value, such as related products or partnered businesses.
A)automation
B)journey innovation
C)proactive personalization
D)contextual interaction
Q4) Products that appeal to mothers have evolved since mothers are no longer homogeneous like before. Instead, there are traditional, blended, and nontraditional moms. Which of the following factors that affect consumer buying decisions is responsible for this change?
A)Increased motivation
B)Changes in lifestyle
C)Creation of poverty of time
D)Increased involvement
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Chapter 7: Business Marketing
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Q1) Explain strategic alliance and the factors that contribute to its long-term survival.
Q2) Price is one of the criteria against which business buyers evaluate products and suppliers.
A)True
B)False
Q3) Which of the following statements is true of processed materials?
A)They include materials such as large or expensive machines, mainframe computers, and generators.
B)They include materials such as sheet metal, chemicals, specialty steel, treated lumber, and plastics.
C)They include materials such as spark plugs, tires, and electric motors for automobiles.
D)They include materials such as lubricants, detergents, paper towels, pencils, and paper.
Q4) A practice whereby business purchasers choose to buy from customers of their competitors is called reciprocity.
A)True
B)False
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Chapter 8: Segmenting and Targeting Markets
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Q1) _____ is a common base of demographic segmentation.
A)Product benefit
B)Usage rate
C)Geography
D)Income
Q2) Ethnic segmentation involves segmenting potential customers into neighborhood lifestyle categories.
A)True
B)False
Q3) How do marketers use customer relationship management (CRM) as a targeting tool?
Q4) A firm that adopts an undifferentiated targeting strategy assumes that:
A)a market is composed of narrowly defined market segments.
B)small firms can compete effectively with large firms.
C)concentrating all resources on understanding the needs of a single market results in cannibalization.
D)individual customers have similar needs that can be met with a common marketing mix.
Q5) Explain product differentiation as a positioning strategy used by marketers to distinguish their products from competitors.
10
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Chapter 9: Marketing Research
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Q1) In the context of marketing research projects, which of the following statements is true of secondary data?
A)They result in loss of time and money.
B)They give detailed information that enables a researcher to assess quality.
C)They refer to information collected for the first time.
D)They suggest research methods needed for solving a problem.
Q2) Briefly discuss probability samples and nonprobability samples.
Q3) In the context of web community research, all community interaction takes place on a custom-designed website.
A)True
B)False
Q4) Which of the statements is true of management decision problems?
A)They are far less general than marketing research problems.
B)They must be broadly defined if the research effort is to be successful.
C)They tend to be much broader in scope than marketing research problems.
D)They tend to be information oriented.
Q5) Noncomputer sources are not valuable in gathering competitive intelligence (CI).
A)True
B)False
Q6) Briefly discuss web community research.
Page 11
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Chapter 10: Product Concepts
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Q1) Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____.
A)informational labeling
B)persuasive labeling
C)grade labeling
D)promotional labeling
Q2) Compared with convenience products, shopping products are:
A)less expensive.
B)found in fewer stores.
C)purchased without significant planning.
D)new products unknown to a potential buyer.
Q3) A _____ is not possible when a brand name has a negative or vulgar connotation in the local language.
A)adaptations and modifications strategy
B)one-brand-name strategy
C)different brand names in different market strategy
D)product line contraction strategy
Q4) Compare the four categories of consumer products with examples of each category.
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Chapter 11: Developing and Managing Products
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Q1) In the context of diffusion of innovation, the dominant value of laggards is _____.
A)skepticism
B)deliberateness
C)adventure
D)tradition
Q2) A firm that starts with a global strategy is better able to develop products that are marketable worldwide.
A)True
B)False
Q3) In the context of the new-product development process, which of the following statements is true of screening?
A)It eliminates ideas that are inconsistent with an organization's new-product strategy.
B)It calculates preliminary figures for demand, cost, sales, and profitability.
C)It involves getting consumer reactions to visual representations of a proposed product.
D)It involves making cosmetic or functional changes to existing products.
Q4) Describe the growth stage of the product life cycle.
Q5) How does a multinational corporation meet the needs of the global market?
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Chapter 12: Services and Nonprofit Organization Marketing
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Q1) Generally, the intensity of distribution should exceed the target market's needs and preferences.
A)True
B)False
Q2) Patronage-oriented pricing seeks to match supply and demand by varying prices.
A)True
B)False
Q3) In the context of evaluating service quality, _____ refers to the knowledge and courtesy of employees and their ability to convey trust.
A)heterogeneity
B)responsiveness
C)assurance
D)tangibility
Q4) What are the challenges faced by service providers while deciding a pricing strategy?
Q5) A limitation of revenue-oriented pricing is that:
A)it does not focus on maximizing the surplus of income over costs.
B)it cannot be used by manufacturing companies.
C)determining costs can be difficult for many services.
D)the profit goals of a company are not taken into account.
Page 14
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Chapter 13: Supply Chain Management and Marketing
Channels
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Q1) Which of the following statements is true of the supplier relationship management process?
A)It enables firms to act as leaders in protecting the natural environment.
B)It incorporates features and cost-cutting measures into final products.
C)It enables suppliers and business units to operate with limited or no interaction.
D)It provides structural support for developing and maintaining relationships with suppliers.
Q2) What are the disadvantages of globalizing a company's supply chain?
Q3) _____ is a form of distribution aimed at maximum market coverage.
A)Narrow distribution
B)Intensive distribution
C)Selective distribution
D)Exclusive distribution
Q4) Third-party logistics companies sell logistics solutions and physical products.
A)True
B)False
Q5) Offshoring reduces transportation costs of a company.
A)True
B)False
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Chapter 14: Retailing
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Q1) Retailers can better acquire and use assets when they customize store layouts and merchandise mixes to the tastes of local consumer bases.
A)True
B)False
Q2) The first element in the retailing mix is the _____.
A)retail promotion
B)product offering
C)retail location
D)product pricing
Q3) In a franchise, a franchisor pays a franchisee for the right to use its name, product, and methods of operation.
A)True
B)False
Q4) The use of mobile devices and social media while browsing, comparison shopping, and making a purchase limits retailers from accessing any useful information about their customers, thereby giving retailers no concrete way to appeal to shoppers.
A)True
B)False
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Chapter 15: Marketing Communications
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Q1) Doodle Inc., a renowned interior design services company, tries to increase its customer base through increased web presence. It regularly posts its interior decorations on its website, and its followers can review the designs, suggest changes, and recommend the company to their friends. This results in electronic word-of-mouth advertising. Doodle uses social media as _____.
A)paid media
B)earned media
C)owned media
D)free media
Q2) Sales promotion's greatest strength is in creating strong desire and purchase intent.
A)True
B)False
Q3) Owned media is also called content marketing.
A)True
B)False
Q4) Print advertising does not involve using the Internet.
A)True
B)False
Q5) Explain interpersonal and mass communication.
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Chapter 16: Advertising, Public Relations, and Sales Promotion
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Q1) Experiential marketing involves minimal engagement with a brand's consumers.
A)True
B)False
Q2) In a free-press environment, publicity is easily controlled in a crisis.
A)True
B)False
Q3) If an advertiser wants to enhance the sales of a specific good or service, _____ should be used.
A)institutional advertising
B)product advertising
C)corporate advertising
D)advocacy advertising
Q4) Online advertising includes search engine marketing, display advertising, social media advertising, e-mail marketing, and mobile marketing.
A)True
B)False
Q5) Newspapers and magazines have a high noise level.
A)True
B)False
Q6) Discuss the effects of advertising on consumers. Page 18
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Chapter 17: Personal Selling and Sales Management
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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) While recruiting the sales force, sales managers prefer salespeople who:
A)often avoid getting involved in unlikely sales.
B)get their point across confidently without being overbearing or aggressive.
C)ensure that there is no negotiation during the process of closing a sale.
D)are transaction oriented rather than relationship oriented.
Q3) In the context of steps in the sales process, describe the methods of qualifying leads.
Q4) Differentiate between traditional personal selling and relationship selling.
Q5) Personal selling provides a brief and precise explanation of the product.
A)True
B)False
Q6) Write a note on customer relationship management.
Q7) Briefly explain the impact of technology on personal selling.
Page 20
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Chapter 18: Social Media and Marketing
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Q1) MirrorSense is a social networking site which allows members to write their views and opinions about various products, services, social issues etc. However, members on this website can write no more than 140 characters. In this case, MirrorSense is a(n) _____.
A)e-commerce site
B)search engine
C)e-magazine
D)microblog
Q2) Which of the following actions is performed during the final stage of an effective social media plan?
A)Setting objectives that can be specifically accomplished through social media
B)Examining trends and best practices in the industry
C)Listening to customers and understanding their expectations
D)Making changes to the implemented campaign based on consumer response
Q3) In social media, negative comments and complaints can illuminate unknown brand flaws.
A)True
B)False
Q4) Explain how virtual worlds and online gaming help marketers to engage with customers.
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Chapter 19: Pricing Concepts
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Q1) Define consumer penalty and give reasons for imposing consumer penalties.
Q2) Product life cycles can only be measured in years.
A)True
B)False
Q3) Discuss the role of price in the evaluation of product alternatives.
Q4) Because of its recent high growth in the national market, Mable Inc., an online cosmetics retailer, decides to divide its market in the United States into segments and charge a flat freight rate to all customers in a given segment. In this scenario, Mable Inc. plans to adopt freight absorption pricing.
A)True
B)False
Q5) www.ebay.com is the most popular extranet in the United States. A)True
B)False
Q6) Firms that indulge in price fixing:
A)decide how much to charge for a product.
B)undercut the price quoted by a seller to a buyer.
C)charge different prices to different customers.
D)do not sell to two or more different buyers.
Q7) Discuss how shopping bots help consumers with their purchase decisions.
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