Marketing for Managers Practice Exam
Course Introduction
Marketing for Managers is designed to equip future business leaders with a comprehensive understanding of marketing principles, strategies, and analytical tools essential for managerial decision-making. The course explores key concepts such as market segmentation, consumer behavior, product development, pricing strategies, distribution channels, and integrated marketing communications. Emphasis is placed on applying these concepts to real-world business scenarios, enabling managers to develop effective marketing plans that align with organizational objectives. Through case studies, discussions, and hands-on projects, students will learn how to analyze market opportunities, respond to competitive challenges, and drive business growth through strategic marketing initiatives.
Recommended Textbook
M Marketing 5th Edition by Dhruv Grewal
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Page 2
Chapter 1: Overview of Marketing
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Q1) In marketing terms,the trade of things of value between the buyer and the seller so that each is better off as a result is referred to as
A) a marketing exchange.
B) value cocreation.
C) the marketing mix.
D) a value transaction.
E) relational marketing.
Answer: A
Q2) What are the four Ps of marketing? Give an example of each.
Answer: Product,price,place,and promotion.Examples will vary.
Q3) The idea that a good product will sell itself is associated with the __________ era of marketing.
A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented
Answer: A
Q4) How should marketers determine prices?
Answer: Prices should be based on potential customers' perceptions of value.
Page 3
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Chapter 2: Developing Marketing Strategies and a Marketing Plan
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Sample Questions
Q1) Product penetration is one of the four major growth strategies.
A)True
B)False
Answer: False
Q2) A marketing strategy identifies three things: ________,a related marketing mix,and the bases on which the firm plans to build a sustainable competitive advantage.
A) customer value
B) a mission statement
C) marketing metrics
D) a firm's target markets
E) a product plan
Answer: D
Q3) Although most people do not have a personal marketing plan,when would one be appropriate?
Answer: Students might reflect on their own personal circumstances,but three plausible responses include the choice and process they used to select a college or university,a potential marriage,and a job.
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Page 4
Chapter 3: Social and Mobile Marketing
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Sample Questions
Q1) Your text notes that the networking benefits of LinkedIn are particularly beneficial for which group?
A) entertainment marketers
B) photo enthusiasts
C) small-business owners
D) athletes
E) journalists and bloggers
Answer: C
Q2) Gene's Complete Cameras offers its customers an interactive website to help them choose the best camera for their lifestyle.But the site's most-used feature is its user blog in which customers-both satisfied and unsatisfied-talk about products they have purchased and the service received at Gene's.The user blog best describes which of the 4E frameworks for the store's customers?
A) engage
B) energize
C) excite
D) experience
E) educate
Answer: A
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Page 5
Chapter 4: Marketing Ethics
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Q1) If there are no correct answers to ethically troubling situations you might face in your career,how can you be expected to perform ethically?
Q2) A representation,omission,act,or practice in an advertisement that is likely to mislead consumers acting reasonably under the circumstances is referred to as A) deceptive advertising. B) illegal marketing.
C) business ethics.
D) corporate irresponsibility.
E) a sustainable competitive advantage.
Q3) Briefly describe how CSR affects the various stakeholder categories.
Q4) What types of unethical behavior are most frequently encountered in marketing?
Q5) The most basic corporate social responsibility to employees is to ensure the highest pay for the work performed.
A)True
B)False
Q6) Respond to the question,"Which is a more important corporate objective: making a profit or obtaining and keeping customers?"
Q7) How does corporate social responsibility relate to ethics?
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Chapter 5: Analyzing the Marketing Environment
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Q1) Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through
A) increased choices.
B) higher prices.
C) protection from false advertising.
D) fair debt collection practices.
E) fewer competitors.
Q2) Baby Boomers represent a tremendous opportunity for today's marketers.Who are the Baby Boomers? Based on their age,what might be some products that they would be interested in?
Q3) Jeanne,who lives in Boston,refers to Pepsi as "soda," while Paul,who lives in Chicago,calls it "pop." This is an example of a regional culture difference.
A)True
B)False
Q4) Demographics are transmitted by words,literature,and institutions from generation to generation.
A)True
B)False
Q5) How can marketers identify potential opportunities?
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Chapter 6: Consumer Behavior
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Q1) Most big box retailers regularly move products from one aisle to another.They also put personal care products in the pharmacy area,many aisles away from the grocery products.They do this because consumers who spend more time walking through the store are likely to buy things they hadn't planned to buy,or make
A) impulse purchases.
B) limited problem-solving decisions.
C) extended problem-solving decisions.
D) ritual consumption purchases.
E) affective alternative decisions.
Q2) There are five types of risks associated with purchase decisions.Which of the following best describes a situation where your new car stalls in the middle of a busy intersection?
A) physiological risk
B) social risk
C) financial risk
D) functional risk
E) psychological risk
Q3) The text lists five psychological factors that can influence purchase decisions.List and give an example of each.
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Chapter 7: Business-To-Business Marketing
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Q1) B2B partners often connect to each other on the Internet through special __________ designed to facilitate information exchanges and transactions.
A) search engines
B) web masters
C) web portals
D) web routes
E) gatekeepers
Q2) Suppose that Volkswagen is preparing an RFP for a hands-free phone connection for a new car model.Which of the following would you not expect to find in the RFP?
A) a description of the required features for the device
B) a time frame when the devices are needed
C) specifications for connecting the device to the car
D) a vendor analysis
E) instructions for preparing proposals
Q3) Once a vendor receives an order from a firm,it responds by immediately filling the order.
A)True
B)False
Q4) How are the B2B and B2C buying processes different?
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Chapter 8: Global Marketing
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Sample Questions
Q1) Which of the following global entry strategies is being used if a company collaborates with a competitor on a globally based opportunity for mutual benefit,but the competitors do not invest in each other?
A) franchising
B) joint venture
C) strategic alliance
D) direct investment
E) equity partnership
Q2) Firms with global appeal can run global advertising campaigns and simply translate the wording in the advertisements and product labeling.
A)True
B)False
Q3) You have been hired to pursue international marketing for a small manufacturing firm.The owner,who is reaching retirement age,does not like to take on risky business ventures.Her son,though,likes to take risks; he feels it's a good way to earn a greater return.What entry strategy would the owner want to pursue,and what entry strategy would the son want to pursue? How might you resolve the differences?
Q4) How is the retail landscape in India changing?
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Chapter 9: Segmentation, Targeting, and Positioning
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Q1) Micromarketing is also referred to as
A) loyalty marketing.
B) one-to-one marketing.
C) undifferentiated marketing.
D) concentrated marketing.
E) differentiated marketing.
Q2) The first step in the STP process is to
A) identify the segmentation methods to be used.
B) produce a list of strengths and weaknesses of the firm's past marketing strategies.
C) clearly articulate the firm's vision or marketing strategy objectives.
D) select target markets.
E) develop a marketing mix,so that an appropriate segment can later be identified.
Q3) Healthcare Options markets health care aids such as walkers,crutches,and portable oxygen tanks.It is located in a large city with branches in neighboring suburbs.It needed to determine if one of its stores was profitable or if it should close it.What is the formula for determining profitability?
Q4) Why would a company use a micromarketing strategy versus an undifferentiated strategy?
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Chapter 10: Marketing Research
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Sample Questions
Q1) In what type of research situations would marketing researchers use in-depth interviews?
Q2) Marketers often have huge amounts of information about their customers.What ethical issue should marketers include in their decisions regarding how to use this information?
Q3) What are the most important elements in the presentation of marketing research results?
Q4) Which of the following statements is not one of the guidelines provided by the American Marketing Association for conducting marketing research?
A) Personal information about research participants should not be shared,except with a designated member of senior management.
B) Selling or fund-raising should not be conducted under the guise of conducting research.
C) Researchers should not misrepresent data.
D) Clients and suppliers should be treated fairly.
E) Researchers should not omit pertinent data.
Q5) What is the major advantage of primary data collection,compared to the use of secondary data?
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Chapter 11: Product, Branding, and Packaging Decisions
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Sample Questions
Q1) A university that has separate graduate and undergraduate admission offices recognizes that these are distinct
A) brand associations.
B) product lines.
C) product mixes.
D) brands.
E) augmented services.
Q2) Nike sells shoes,clothing,and athletic gear.These represent the breadth of Nike's products.
A)True
B)False
Q3) A familiar brand name always helps the sales of a product.
A)True
B)False
Q4) A product is anything that is of value to a consumer and can be offered through a voluntary exchange.
A)True
B)False
Q5) What is brand extension? Provide an example of brand extension.
Q6) Why would a huge retailer like Walmart carry national brand products?
Page 13
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Chapter 12: Developing New Products
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Q1) Which of the following is not a stage in the product life cycle?
A) introduction
B) growth
C) evaluation
D) maturity
E) decline
Q2) If a new product concept gets positive evaluations from potential customers during concept testing,the next step for a firm is
A) market testing.
B) product development.
C) brainstorming.
D) reverse engineering.
E) launching of the product.
Q3) Even if they succeed,new-to-the-world products are
A) generally not profitable.
B) not adopted by everyone at the same time.
C) not capable of creating new markets.
D) not subject to the law of first movers.
E) typically very short-lived.
Q4) Why do marketers take the time and cost associated with test marketing?
Page 14
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Chapter 13: Services: the Intangible Product
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Sample Questions
Q1) A delivery gap is the difference between the firm's service standards and the actual service it provides to customers.
A)True
B)False
Q2) Martha had several unpleasant experiences trying to find the merchandise she needed at a large lumber yard and hardware store.The employees-when she could find them-rarely seemed to know where anything was outside of their own departments.But on her most recent visit,she was pleasantly surprised to find that the store had installed kiosks where she could get directions quickly and accurately.The store had found a technological solution to the services marketing issue of
A) intangibility.
B) part-time employees.
C) perishability.
D) inseparability.
E) heterogeneity.
Q3) All products and services are intangible.
A)True
B)False
Q4) What are the potential gaps in the Gaps Model? What is it designed to do?
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Chapter 14: Pricing Concepts for Establishing Value
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Q1) Joe's Deli is trying to compete with the local Subway store.When Subway offers lower prices on certain sandwiches during its "customer appreciation month," Joe's Deli reduces the price of its similar subs in order to compete.What pricing orientation is being utilized by Joe's Deli?
Q2) When Ursula decides how to price new products in her gift store,she measures the value of her product offerings against those of the other stores in her area.Ursula uses a _______ pricing strategy.
A) maximizing profits
B) target profit
C) target return
D) competitor-oriented
E) sales oriented
Q3) Price is the only part of the marketing mix that does not generate costs. A)True
B)False
Q4) If a firm is engaged in monopolistic competition,it should seek a way to differentiate itself.
A)True
B)False
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Chapter 15: Supply Chain and Channel Management
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Q1) Although conflict is likely to occur in any supply chain,it is generally more pronounced when
A) the supply chain members are geographically too close to each other.
B) manufacturers pressure retailers.
C) retailers pressure manufacturers.
D) the supply chain members are independent entities.
E) the economy is booming.
Q2) _______ systems are designed to deliver smaller shipments of merchandise on a more frequent basis to retailers.
A) Cross-docking
B) UPC
C) Just-in-time (JIT)
D) Pick ticket
E) Lead time
Q3) Why does conflict arise in the supply chain? How do partnering relationships help reduce conflict?
Q4) What types of firms typically operate distribution centers?
Q5) A marketing channel and a supply chain are virtually the same.
A)True
B)False
17
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Chapter 16: Retailing and Omnichannel Marketing
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Q1) Omnichannel retailers are able to simply charge the same prices across all channels.
A)True
B)False
Q2) In which of the following categories would a dry cleaning business be placed?
A) service retailer
B) specialty store
C) category killer
D) superstore
E) discount store
Q3) Effective omnichannel operations require an integrated CRM (customer relationship management)system with a centralized customer data warehouse.
A)True
B)False
Q4) How can the size of a company affect the choice of marketing channels?
Q5) Supercenters are stores that combine a supermarket with a full-line discount store.
A)True
B)False
Q6) How has the relationship between manufacturers and retailers changed?
Page 18
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Chapter 17: Integrated Marketing Communications
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Q1) Each element of an integrated marketing communication (IMC)strategy must have a well-defined purpose and support,and extend the message delivered by all the other elements.
A)True
B)False
Q2) After seeing advertisements for the Toyota Prius,Joel becomes interested and does some Internet research.However,after seeing the price for a new model,he decides to purchase a Ford Fusion instead.This is an example of the lagged effect.
A)True
B)False
Q3) The communication process begins with __________,who(which)must be clearly identified.
A) the integrator
B) the sender
C) the transmitter
D) the communication channel
E) the receiver
Q4) What are the individual elements of integrated marketing communications,and how does each contribute to an IMC campaign?
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Chapter 18: Advertising, Public Relations, and Sales Promotions
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Q1) Ashley was nervous about making the ___________.She knew it was likely to be the largest expense in the advertising budget.
A) publicity plan
B) media flight plan decision
C) media mix choice
D) media buy
E) monitoring and evaluation plan decision
Q2) Which of the following is not a public relations tool?
A) donating a portion of profits to a charitable cause
B) coupons and rebates
C) event sponsorships
D) news releases
E) websites
Q3) You are assigned the task of developing an advertising plan for the marketing program at your university.What will you include in your plan?
Q4) What type of advertising appeal is most appropriate for a marketer introducing hydrogen-powered automobiles to consumers?
Q5) Why do marketers need to create an advertising plan before they initiate a campaign?
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Chapter 19: Personal Selling and Sales Management
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Q1) Garrett is a sales rep for a line of golf equipment.He has been trying to get his sales manager to allow him to rent a booth at the upcoming PGA (Professional Golfers' Association)show held every January in Orlando.Garrett is putting together a list of the benefits of displaying his company's products at the show.What benefits should his list include?
Q2) The attitudes that Ryan's customers develop after they have purchased his yearly lawn care service will become the basis for determining whether they renew each year.He needs to convey ____________ by guaranteeing his work in writing.
A) reliability
B) responsiveness
C) assurance
D) empathy
E) tangibles
Q3) Geraldine is in NEC's sales training program.She will probably be taught that all a salesperson needs to do is ask questions.
A)True
B)False
Q4) What is relationship selling?
Q5) What basic rule should be used in creating sales evaluation criteria?
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