Marketing Management
Midterm Exam
Course Introduction
Marketing Management explores the fundamental principles and strategic approaches used by organizations to identify, anticipate, and satisfy customer needs profitably. This course covers key topics such as market analysis, consumer behavior, segmentation, targeting, positioning, branding, product development, pricing strategies, distribution channels, and integrated marketing communications. Through real-world case studies and practical applications, students will develop the analytical and decision-making skills necessary to plan, implement, and control effective marketing strategies in competitive and dynamic environments.
Recommended Textbook
Marketing Real People Real Choices 9th Edition by
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14 Chapters
2209 Verified Questions
2209 Flashcards
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Page 2
Michael R. Solomon
Chapter 1: Welcome to the World of Marketing: Create and Deliver Value
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151 Verified Questions
151 Flashcards
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Sample Questions
Q1) The trend of consumers renting out their belongings when they are not in use to other consumers who need them for a limited time is called ________.
A) e-commerce
B) virtual exchange of goods
C) the attention economy
D) collaborative consumption
E) user-generated content
Answer: D
Q2) Alcoholism and cigarette smoking are both examples of ________.
A) anticonsumption behaviors
B) "bait-and-switch" behaviors
C) consumer addictions
D) shrinkage
E) consumed consumer behaviors
Answer: C
Q3) The term "marketing" is synonymous with the term "advertising."
A)True
B)False
Answer: False
Page 3
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Chapter 2: Global, Ethical, and Sustainable Marketing
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) Consumers who are most likely to actively look for and buy products that are environmentally friendly are referred to as ________.
A) green customers
B) consumed consumers
C) societal consumers
D) fair traders
E) locavores
Answer: A
Q2) Briefly describe the three stages of the business cycle that all economies go through. Answer: All economies go through the cycles of prosperity (with high levels of demand, income, and employment), recession (with falling demand, income, and employment), and recovery (with gradual improvement in production, lowering unemployment, and increasing income).
Q3) The goal of the World Bank is to improve economies and support sustainable development in order to reduce poverty and improve lives.
A)True
B)False
Answer: True
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4
Chapter 3: Strategic Market Planning
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156 Verified Questions
156 Flashcards
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Sample Questions
Q1) Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt, hike, and bike ride. Its long-term plans include the development of lenses that, in addition to protecting users from UV rays, will also have effective water-sheeting action to reduce lens spotting. This new feature will be valuable to people who fish. In terms of a SWOT analysis, the company believes it can use the ________ of its reputation as a sunglasses manufacturer for a specialized market in combination with its current manufacturing facilities and labor force to enter this new market.
A) weight
B) strength
C) mission
D) opportunity
E) trend
Answer: B
Q2) Planning means that an organization develops objectives while in the process of taking action.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Market Research
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) A ________ is a process that determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information to users.
A) primary data collection system
B) secondary data collection system
C) competitive intelligence system
D) marketing research project
E) marketing information system
Q2) Compare and contrast the structure and uses of exploratory research and descriptive research.
Q3) The second step of the marketing research process is to ________.
A) define the problem
B) select the primary data collection method
C) determine the sampling method
D) calculate the budget
E) determine the research design
Q4) What are market research ethics and why is it important that a firm follows market research ethics?
Q5) What is internal company data? Give two examples of internal data.
Q6) Explain the roles of independent and dependent variables in causal research.
Page 6
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Chapter 5: Marketing Analytics: Welcome to the Era of Big Data
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Identify two actions other than the purchase of a good or service that could be measured through calculation of a conversion rate.
Q2) How can a marketer determine the effectiveness of a banner ad on a website?
Q3) Scanner data is an example of a ________ source of Big Data.
A) social media
B) partner database
C) commercial entity
D) government
E) corporate I.T.
Q4) Explain the philosophy of customer relationship management (CRM).
Q5) Through its CRM program, an online clothing company records information about each time a customer makes a purchase or clicks on a link through an email or an online advertisement. These interactions are examples of ________.
A) customizations
B) touchpoints
C) analytics
D) optimizations
E) impressions
Q6) Briefly explain how marketers use marketing controls.
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Chapter 6: Understand Consumer and Business Markets
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) ________ is the feeling component of attitudes.
A) Affect
B) Cognition
C) Behavior
D) Motivation
E) Interpretation
Q2) The Green Awning is a flower and gift store. When its owner purchases the green foam used in the bottom of vases of cut flowers, floral tape used in flower arrangements, and gift cards, she is most likely making a ________.
A) straight rebuy
B) complex-task purchase
C) modified rebuy
D) new-task buy
E) gatekeeping buy
Q3) The marketing strategy of gamification is designed to address consumers' motivational needs of prestige, status, and accomplishment.
A)True
B)False
Q4) Identify an advantage and disadvantage of implementing multiple sourcing.
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Chapter 7: Segmentation, Target Marketing, and Positioning
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Which of the following would LEAST likely be included in a product's positioning statement?
A) the product's strongest competitors
B) the segment(s) to which the product is targeted
C) the product's most important differentiator
D) evidence supporting the most important claim made about the product
E) the specific value of the product
Q2) According to the long tail approach to selling, ________.
A) the Internet provides reduced opportunities for segmenting markets
B) companies can make the most money by focusing on the "bottom-of-pyramid" market
C) companies should focus on the 20 percent of customers who purchase the greatest volume of their product
D) companies should focus on the 80 percent of customers who purchase the greatest volume of their product
E) companies can make money by selling small amounts of items that only a few people want
Q3) The members of Generation Y were born between 1965 and 1976.
A)True
B)False
Page 9
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Chapter 8: Product I: Innovation and New Product Development
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) The ________ is the actual product plus supporting features, such as delivery, installation, financing, and warranty.
A) brand
B) innovation
C) augmented product
D) potential product
E) core product
Q2) The largest adopter category is the early adopters.
A)True
B)False
Q3) MRO products are goods that businesses use for ________.
A) management, research, and ordering
B) marketing, relationship-building, and operating
C) maintenance, research, and organizing
D) maintenance, repair, and operating
E) marketing, research, and organizing
Q4) The state of Missouri is a product that can be promoted as a great place to locate a new business.
A)True B)False
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Chapter 9: Product Ii: Product Strategy, Branding, and Product Management
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) The product life cycle concept can be applied by marketers as a useful framework for describing how ________.
A) to forecast product performance
B) to develop marketing strategies
C) a market responds to a product over time
D) product ideas are developed
E) a brand gains a dominant position in the market
Q2) The concept of ________ encompasses the beliefs and associations that a consumer has about a brand.
A) brand meaning
B) brand storytelling
C) brand equity
D) product quality
E) total quality
Q3) The sales peak typically occurs during which stage of the product life cycle?
A) introduction
B) youth
C) development
D) maturity
E) leveling
Page 11
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Chapter 10: Price: What Is the Value Proposition Worth
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162 Verified Questions
162 Flashcards
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Sample Questions
Q1) The first step in planning how to price a product is to develop pricing objectives.
A)True
B)False
Q2) Using ________, marketers charge different prices to different customers in order to manage capacity and maximize revenue.
A) yield management pricing
B) keystoning
C) high/low pricing
D) promo pricing
E) trial pricing
Q3) The value of something we give up in order to obtain something else is referred to as a(n) ________.
A) transformation cost
B) opportunity cost
C) exchange
D) variable cost
E) marginal cost
Q4) If demand is elastic, will sellers consider lowering their prices? Explain your answer.
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Chapter 11: Deliver the Goods: Determine the Distribution Strategy
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161 Verified Questions
161 Flashcards
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Sample Questions
Q1) A commission merchant would most likely sell which of the following?
A) agricultural products
B) extractive materials such as coal and iron
C) convenience goods such as gum and candy
D) fresh fruits and vegetables
E) real estate
Q2) An intermediary who ________ legally owns the goods being handled.
A) breaks bulk
B) takes title
C) creates assortments
D) takes consignments
E) earns commission
Q3) Intermediaries that do business with many different manufacturers and many different customers are most accurately referred to as ________.
A) interdependent intermediaries
B) dependent intermediaries
C) independent intermediaries
D) wholesalers
E) retail outlets
Q4) What types of products are selectively distributed?
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Chapter 12: Deliver the Customer Experience: Goods and Services Via
Bricks and Clicks
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) Which of the following is most closely associated with upscaling in retailing?
A) fewer members in the channel of distribution
B) more members in the channel of distribution
C) greater operating costs
D) lower operating costs
E) lower levels of customer service
Q2) Give an example of how the economic downturn that began in 2007 affected retailers' strategies.
Q3) Explain the differences between a multilevel network and a pyramid scheme.
Q4) Service ________ means that a firm cannot store its services.
A) intangibility
B) perishability
C) inseparability
D) variability
E) personalization
Q5) The talent agency that is trying to convince Berry College to hire a motivational speaker for the college's homecoming festivities is marketing people.
A)True
B)False
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Chapter 13: Promotion I: Advertising and Sales Promotion
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) A.Y. McDonald, a manufacturer of pumps and plumbing valves, employs regional salespeople to sell its products to wholesalers and cities. This is an example of ________.
A) sales promotion
B) personal selling
C) public relations
D) direct marketing
E) advertising
Q2) The use of short-term incentives to encourage the immediate purchase or sale of a product or service is called ________.
A) indirect marketing
B) sales promotion
C) personal selling
D) public relations
E) advertising
Q3) Explain why effective communication occurs only when the source and the receiver have a mutual frame of reference.
Q4) Identify the traditional mass media vehicles and identify some of the strengths and weaknesses of each type.
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Chapter 14: Promotion Ii: Social Media, Directdatabase
Marketing, Personal Selling, and Public Relations
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) Internal PR activities target a company's ________.
A) current customers
B) prospective customers
C) brand ambassadors
D) investors
E) employees
Q2) Virtual goods are tangible products that can be purchased for real money in virtual worlds.
A)True
B)False
Q3) After the sales presentation, which of the following is the next step in the creative selling process?
A) block objections
B) handle objections
C) begin building a bridge to the next sale
D) wait for signals that the customer is ready to buy
E) indirectly ask the customer for her business
Q4) What is the sales job classification and responsibility of an employee who processes purchases over the phone?
Q5) What is the difference between catalogs and direct mail?
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