Marketing Fundamentals
Final Test Solutions
Course Introduction
Marketing Fundamentals introduces students to the core principles and practices of modern marketing. The course covers essential topics such as market research, consumer behavior, segmentation and targeting, product development, pricing strategies, promotion, and distribution channels. Through real-world examples and case studies, students learn to analyze and develop effective marketing strategies that meet the needs of diverse audiences. Emphasis is placed on understanding the dynamic environment of marketing, the role of digital platforms, and ethical considerations, preparing students for practical application in various industries.
Recommended Textbook M Marketing 3rd Edition by Dhruv Grewal
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18 Chapters
2647 Verified Questions
2647 Flashcards
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Page 2
Chapter 1: Overview of Marketing
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Sample Questions
Q1) The primary purpose of the __________ plan is to specify the marketing activities for a specific time.
A) marketing
B) business
C) strategic
D) organizational
E) resource
Answer: A
Q2) Which of the following is NOT true about marketing ideas?
A) Opinions,philosophies,intellectual concepts and even thoughts can be effectively marketed.
B) The marketing of ideas does not involve true exchange of value.
C) Ideas can be "purchased" by convincing someone to change his or her behavior.
D) Marketing can be directed toward primary and secondary targets to increase knowledge and change behavior.
E) Value can be created through changing behaviors.
Answer: B
Q3) What is the fundamental purpose of marketing?
Answer: To create value.
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Page 3
Chapter 2: Developing Marketing Strategies and a Marketing Plan
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140 Verified Questions
140 Flashcards
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Sample Questions
Q1) Most banks now have customer relationship software which,when a customer contacts the bank,tells the service representative what types of accounts,loans,and credit cards the customer currently has.Service representatives use this information to sell some of the other services the bank currently offers to these customers.This is a ___________________ growth strategy.
A) product proliferation
B) market development
C) market penetration
D) diversification
E) product development
Answer: C
Q2) Most banks implement customer retention programs aimed at their best customers.They do this because they know that retaining customers usually results in: A) a product development growth strategy.
B) an operational advantage.
C) opportunities for diversification.
D) increased long term profits.
E) more clearly defined market segments.
Answer: D
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Chapter 3: Marketing Ethics
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Multinational corporations are recognizing their responsibility to the people who make their products:
A) when public attention might embarrass the corporation.
B) if the local government suggests that the company pay bribes to officials.
C) even if they aren't their employees.
D) unless another firm actually employs the workers.
E) all of these.
Answer: C
Q2) Which of the following questions is typically asked in Ethical Decision-Making Metric I?
A) Can we live with this decision alternative?
B) Have we thought broadly about any and all ethical issues associated with the decision?
C) Does this decision respect the rights and dignity of stakeholders?
D) Does this decision uphold relevant conventional moral values?
E) all of these
Answer: E
Q3) During which phase(s)of the strategic marketing planning process are ethical issues likely to arise?
Answer: Issues can arise in any phase of the process.
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Chapter 4: Analyzing the Marketing Environment
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Sample Questions
Q1) When analyzing the immediate environment and the macro environment,marketers must be careful to keep the firm at the center of all analyses.
A)True
B)False
Q2) Yvonne knows her firm must look at everything they do from a consumer's point of view.One major difficulty is that a consumer's __________ change(s)over time.
A) ethnic background
B) needs,wants,and ability to purchase
C) job
D) just-in-time processes
E) all of these
Q3) The shared meanings,beliefs,morals,values,and customs of a group of people are their:
A) social concerns.
B) culture.
C) demographics.
D) generational cohorts.
E) religion.
Q4) How can marketers identify potential opportunities?
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Chapter 5: Consumer Behavior
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Steve wasn't sure what kind of salsa he wanted to get for his upcoming Superbowl party.It seemed like there were dozens of varieties to choose from.He noticed that he could sample a few at a station in the store.He tried four,rejected two,and bought several jars of the two he really liked.He also ended up buying a different--and more expensive--kind of tortilla chip after tasting it.Marketers identify this as a success story of:
A) learning.
B) taste heuristics.
C) social factors.
D) advertisements.
E) in-store demonstrations.
Q2) The three components of an attitude are:
A) cognitive,affective,and behavioral.
B) connected,applicable,and bearable.
C) confident,achievable,and believable.
D) consistent,affordable,and particular.
E) none of these.
Q3) Whenever major golf professionals use a new piece of golf equipment,sales of that equipment jump rapidly.What type of social influence do PGA and LPGA professionals represent for average golfers?
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Chapter 6: Business-To-Business Marketing
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Sample Questions
Q1) The World Trade Organization creates proposals that are then discussed by all 135 member countries and not approved until the proposal is agreeable to all.What type of organizational culture exists in the WTO?
Q2) B2B partners often connect to each other on the Internet through special __________ designed to facilitate information exchanges and transactions.
A) web portals
B) webmasters
C) web links
D) web hosts
E) none of these
Q3) Judy knows it is important to approach business buyers at the right time,which is often during the first stage of their buying process.She stays in touch with her customers,hoping to find out when they are going through:
A) need recognition.
B) the RFP process.
C) proposal analysis.
D) vendor negotiation and selection.
E) product specification.
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Chapter 7: Global Marketing
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144 Verified Questions
144 Flashcards
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Sample Questions
Q1) The most important consideration,when a firm chooses a global product strategy,should be:
A) opportunities for countertrade.
B) the effectiveness of the marketing team.
C) the needs of the target market.
D) the provisions of GATT.
E) WTO regulations.
Q2) Which of the following trade agreements is designed to manage and promote trade activities for the United States,Canada and Mexico?
A) NAFTA
B) EU
C) CAFTA
D) Mercosur
E) ASEAN
Q3) You have been asked to evaluate the economic potential of Gabon as a market for your company's products.What three categories of economic factors will you assess?
Q4) How is GDP different from HDI as a measure of economic conditions?
Q5) Why do many American firms begin their global expansion efforts by exporting?
Q6) How and why has dominance in globalization changed in the last fifty years?
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Chapter 8: Segmentation, Targeting, and Positioning
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144 Verified Questions
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Sample Questions
Q1) "Why create a perceptual map?" asked David.Andreas,the senior marketing manager,gave him four reasons.Which of the following is NOT a valid reason?
A) "It's a quick way for senior managers to see not only our product but each of our competitors,all at once."
B) "It's a way to demonstrate the dimensions that our customers think are important."
C) "It shows where we aren't--and where our competitors aren't--in our customers' and prospects' minds."
D) "It's a way to show the position of the company in ten years."
E) "We can easily show where we are positioned and how large the market is."
Q2) Create a positioning strategy for your school's business program.How do you want potential students to view your program?
Q3) One of the reasons marketers use loyalty segmentation is:
A) the high cost of finding new customers.
B) government tax incentives for loyalty.
C) accounting difficulties associated with identifying new customers.
D) rapid population increases.
E) the failure of micromarketing as a workable strategy.
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Page 10
Chapter 9: Marketing Research
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145 Flashcards
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Sample Questions
Q1) __________ research is a type of quantitative research that manipulates variables to help determine cause and effect.
A) Descriptive
B) Syndicated
C) Manipulative
D) Focus group
E) Experimental
Q2) __________ confirms insights and provides a basis for taking a course of action.
A) Primary data collection
B) Qualitative data mining
C) Exploratory research
D) Conclusive research
E) Statistical sourcing
Q3) The CEO of a bank in Montana approaches the marketing director,explaining that the bank is considering expanding into Wyoming.The CEO asks the marketing director to design a research project to collect data to answer the question,"What percentage of Wyoming residents have an income greater than $100,000?" What is the problem with this research objective?
Q4) What is the difference between data and information?
Q5) How can a small business do market research on a shoestring budget?
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Chapter 10: Product, Branding, and Packaging Decisions
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143 Verified Questions
143 Flashcards
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Sample Questions
Q1) A __________ package is the one a consumer uses.A __________ package is used by retailers to display and sell the product.
A) secondary; primary
B) generic; private label
C) primary; secondary
D) corporate; manufacturer's
E) co-branded; licensed
Q2) A(n)__________ is a name,symbol,design,or term that identifies a seller's good or service as distinct from those of other sellers.
A) SKU
B) product line
C) supply chain
D) commodity
E) brand
Q3) If Microsoft decided to sell mobile phones under the Xbox brand (which it uses for its gaming systems),this would be an example of a line extension.
A)True
B)False
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Chapter 11: Developing New Products
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153 Flashcards
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Sample Questions
Q1) One of the key characteristics of brainstorming sessions is that bad ideas should be immediately rejected so the group can focus its attention on good ideas.
A)True
B)False
Q2) Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.
A)True
B)False
Q3) Carmen is ready to launch her company's new product,a line of chocolate for diabetics,based on her instincts and knowledge from thirty years of marketing.Her staff is encouraging her to delay the launch until test marketing can be done.What are the advantages and disadvantages of each approach?
Q4) Even if they succeed,new-to-the-world products are:
A) not always successful.
B) not adopted by everyone at the same time.
C) sometimes copycat brands.
D) not subject to the law of first movers.
E) all of these.
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13
Chapter 12: Services: The Intangible Product
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144 Flashcards
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Sample Questions
Q1) Service providers often encounter rude and unreasonable consumers.Services marketing managers can reduce the delivery gap,even for these customers by:
A) empowering consumers.
B) providing support and incentives for their employees.
C) directing zone of tolerance limits for employees.
D) effective customer screening.
E) forcing rude customers to use technology.
Q2) By setting appropriate service standards and measuring service performance,firms can attempt to close a __________ gap.
A) seniority
B) knowledge
C) standards
D) delivery
E) communication
Q3) Garrett was impressed with the service he received at a local wine store.He thought the salesperson was attentive and knowledgeable.His friend,Juanita,who was with him and is very knowledgeable about wine,thought the salesperson was pushy and not well informed.What does this example suggest about customers' service expectations?
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14
Chapter 13: Pricing Concepts for Establishing Value
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236 Verified Questions
236 Flashcards
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Sample Questions
Q1) __________ pricing tactics lower the price of a product below cost.
A) Fixed
B) Zone
C) Regular
D) Loss leader
E) Cost-based
Q2) Traditional demand curve economic theory is used by marketers to understand __________ in the five Cs of pricing.
A) competitors
B) channel members
C) cost
D) customers
E) company objectives
Q3) A customer orientation toward pricing explicitly invokes the concept of:
A) knowing the dimensions of the target market.
B) positioning.
C) the income effect.
D) value.
E) None of these.
Q4) Why are price wars more common in oligopolies than in pure competition markets?
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Chapter 14: Supply Chain and Channel Management
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) Where does the value for the consumer lie in the supply chain?
Q2) Traditionally,marketing channel management has been the responsibility of:
A) marketing departments.
B) chief executive officers.
C) operations.
D) finance.
E) product and promotion departments.
Q3) Supply chain management expert Bernard LaLonde once said,"American management's philosophy has been: If you're smart enough to make it,and aggressive enough to sell it-then any dummy can get it there.Now we're paying for [that philosophy]." What supply chain problems will managers with this philosophy likely encounter?
Q4) As the text states,"Students of marketing often overlook or underestimate the importance of Place in the marketing mix." Why? Create an example to describe how place is important to consumers.
Q5) Why does conflict arise in the supply chain? How do partnering relationships help to reduce conflict?
Q6) From a retailer's perspective,what two goals need to be balanced with a JIT system?
Q7) What is the difference between logistics and supply chain management?
Page 16
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Chapter 15: Retailing and Multichannel Marketing
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) As the old cliché claims,the three most important things in retailing are:
A) size,location,and convenience.
B) price,promotion,and place.
C) location,location,and location.
D) price,price,price.
E) before,during,and after the sale.
Q2) Dollar General and Family Dollar are examples of full-price discount retailers.
A)True
B)False
Q3) Retailers use __________ to create an atmosphere that will offer a more pleasant shopping experience.
A) music
B) lighting
C) scents
D) color
E) all of these
Q4) Gabriel was importing sweaters made from alpaca.They were exquisitely soft and extremely warm.Once potential customer tried one on,it was almost always sold.Which channel should Gabriel select to reach his potential customers: store or Internet?
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Chapter 16: Integrated Marketing Communications
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Sample Questions
Q1) Integrated marketing communications include all of the following except:
A) advertising.
B) supply chain management.
C) direct marketing.
D) public relations.
E) sales promotion.
Q2) A media rep from the local radio station comes into your retail store and suggests running a series of advertisements.She says,"Let's do it and see what happens." What problems can you anticipate with this as the suggested goal?
Q3) Garrett works for a small chain of convenience stores.He is trying to coordinate his firm's IMC efforts.Garrett's IMC goal is to:
A) overwhelm the competition.
B) overwhelm the consumer.
C) integrate supply chain efficiency into the marketing mix communication lagged effect model.
D) maximize noise and avoid using rule-of-thumb encoding.
E) provide clarity,consistency,and maximum communicative impact.
Q4) What parts of an organization are involved in integrating marketing communications?
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Chapter 17: Advertising, Public Relations, and Sales Promotions
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150 Flashcards
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Sample Questions
Q1) A __________ advertising schedule uses a base level of advertising during some periods followed by periods of increased advertising.
A) continuous
B) flighting
C) pulsing
D) penetrating
E) purposeful
Q2) Priscilla opened a new financial services office about two years ago.Now,she is established and known in her local market.How will her advertising message change?
Q3) Florida Heat Pump Manufacturing Company is offering a free,all-expenses-paid trip to Las Vegas for HVAC dealers that sell at least twenty units this year.Florida Heat Pump is using a __________ promotional strategy.
A) pull
B) puffery
C) publicity
D) push
E) posttesting
Q4) Create a sales promotion to promote your university bookstore.
Page 19
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Chapter 18: Personal Selling and Sales Management
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140 Flashcards
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Sample Questions
Q1) What is relationship selling?
Q2) The __________ stage of the selling process offers a prime opportunity for salespeople to solidify customer relationships through great service quality.
A) generating and qualifying leads
B) follow-up
C) sales presentation
D) closing the sale
E) preapproach
Q3) Hiro sells building materials to local contractors.He wants to build long-term relationships with his contractors through effective follow-up.After delivering the materials ordered,Hiro can expect to have to address complaints about:
A) delivery time.
B) billing.
C) product performance.
D) installation.
E) all of these.
Q4) After installing a new HVAC system,what should Frank's Heating & Air Conditioning do to help to ensure customer satisfaction?
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