Marketing Management Study Guide
Questions
Marketing Management is a comprehensive course designed to impart foundational and advanced concepts in the field of marketing. It explores the principles and practices involved in the analysis, planning, implementation, and control of marketing activities within an organization. Through case studies and real-world examples, students learn about market segmentation, targeting, positioning, consumer behavior, product development, pricing strategies, communication, and distribution channels. The course also emphasizes the strategic role of marketing in achieving organizational goals, adapting to a dynamic marketplace, and sustaining competitive advantage. By the end of the course, students will be equipped with the essential tools and frameworks to make informed marketing decisions and create value for both customers and organizations.
Recommended Textbook
Marketing 11th Edition by Roger A. Kerin
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Page 2
Chapter 1: Creating Customer Relationships and Value
Through Marketing
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264 Verified Questions
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Sample Questions
Q1) benefits or customer value received by users of a product is called __________.
A) utility
B) synergy
C) consumerism
D) cost-benefit ratio
E) customer lifetime value
Answer: A
Q2) Assume you are a salesperson for a direct marketing firm that does "in-home" Tupperware parties.If most of your hosts or hostesses hold only one party a year,what strategies could you use to build strong customer relationships? If you are creating your own business for this example,make sure to describe your product(s)in your introductory sentence.
Answer: A quality answer should have a strong emphasis on regular,sustained communication with customers and Tupperware representatives,whether it is through personal contact by phone,notes,e-mails,etc.Answers that are creative and supply product specific examples should be encouraged.
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3
Chapter 2: Developing Successful Organizational and Marketing Strategies
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Sample Questions
Q1) Today's organizations can be divided into two groups,which are
A) companies and cooperatives.
B) business firms and offerings.
C) business firms and nonprofit organizations.
D) employees and customers.
E) public and private.
Answer: C
Q2) of the following are components of the implementation phase of the strategic marketing process EXCEPT:
A) developing planning schedules.
B) executing the marketing program.
C) designing the marketing organization.
D) conducting R&D.
E) obtaining resources.
Answer: D
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Page 4
Chapter 3: Scanning the Marketing Environment
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Sample Questions
Q1) of the following are time periods that the U.S.economy experienced a period of recession EXCEPT:
A) 1973 1975
B) 1981 1982
C) 1990 1991
D) 2007 2009
E) 2010 2011 (as of late-2011)
Answer: E
Q2) Companies often use Internet-based technologies called a(n)__________ that permits communication between a company and its suppliers,distributors,and other partners.
A) Internet service provider
B) extranet
C) intranet
D) commercial online service
E) web exchange
Answer: B
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Page 5
Chapter 4: Ethical and Social Responsibility for Sustainable Marketing
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Sample Questions
Q1) Economic espionage refers to
A) the destruction of a competitor's products or services through physical damage of property or damage to their reputation.
B) persuading someone to act in one's favor, typically illegally or dishonestly, by a gift of money or other inducement.
C) an illicit payment made to someone who has facilitated a transaction or appointment.
D) the clandestine collection of trade secrets from foreign countries.
E) the clandestine collection of trade secrets or proprietary information about a company's competitors.
Q2) clandestine collection of trade secrets or proprietary information about a company's competitors is referred to as __________.
A) economic espionage
B) industrial espionage
C) marketplace espionage
D) industrial surveillance
E) patent infringement
Q3) Describe the three major concepts of social responsibility.
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Chapter 5: Understanding Consumer Behavior
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Sample Questions
Q1) Which problem solving variation would likely be used for clothing,sheets,towels,or electric can openers?
A) routine response behavior
B) limited problem solving
C) extended problem solving
D) simulated selection
E) integrated problem solving
Q2) the United States,there are two major political parties whose members disagree with each other on a variety of issues.Both Republicans and Democrats view one another as being part of a(n)_________ group.
A) membership
B) aspiration
C) dissociative
D) reference
E) involvement
Q3) is learning important to marketing?
Q4) Identify and explain the five stages of the consumer purchase decision process as shown in "A," "B," "C," "D," and "E" in Figure 5-3 above.
Q5) Define consumer socialization.
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Chapter 6: Understanding Organizations As Customers
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Sample Questions
Q1) Dell,Inc.sells surplus,refurbished,or closeout computer merchandise at its dellauction.com website to many buyers who bid competitively against one another.This is an example of a
A) reverse auction.
B) traditional auction.
C) bidder's war.
D) I-auction.
E) Webfront auction.
Q2) Graham-Field Health Products makes hospital beds and wheelchairs from the component parts and materials it buys.It sells these manufactured products to hospitals,nursing homes,and retailers of health care products.Graham-Field Health Products operates in a(n)__________ market.
A) consumer
B) government
C) service
D) industrial
E) reseller
Q3) Differentiate between traditional and reverse auctions.
Q4) are the five stages of the organizational buying process?
Q5) What is a bidder's list?
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Chapter 7: Understanding and Reaching Global
Consumers and Markets
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Sample Questions
Q1) Global companies have five strategies for matching products and their promotion efforts to global markets.Nescafé coffee is marketed using different coffee blends and promotional campaigns to match consumer preferences in different countries.For example,Nescafé generally emphasizes the taste,aroma,and warmth of shared moments in its advertising around the world.However,in Thailand,Nescafé is advertised as a way to relax from the pressures of daily life.This is an example of which type of global product strategy?
A) product extension
B) product customization
C) product adaptation
D) dual adaptation
E) dual integration
Q2) Which of the following is an advantage inherent in the use of licensing?
A) The foreign country gains employment.
B) There is an exemption from domestic trade regulations.
C) There is an increase in potential profit gains.
D) The licensee retains control of its product.
E) The licensee is protected from creating a potential competitor.
Q3) your primary motive was to raise prices on imports,would you use tariffs or quotas? Why?
Page 9
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Chapter 8: Marketing Research: From Customer Insights to Actions
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Sample Questions
Q1) Watch was a teen publication given out free to high school students,but the publication was unable to deliver the response rates to coupons or sample offers that its advertisers expected.After defining the problem,its publisher developed a research plan,gathered information from teen focus groups,analyzed the findings,and replaced Watch magazine with Fuel for boys and Verve for girls.How would a marketer judge the publisher's actions?
A) Why fix something that is not broken? The magazine was still attracting some advertisers.
B) It made a big deal out of a small decline-a few copy changes would have been enough.
C) The approach it took was too complicated and costly to provide an effective solution to the problem.
D) It took a systematic approach to analyzing the problem and responded to its advertisers' concerns.
E) This publisher used an approach that works for corporations but will just waste time for a small publisher.
Q2) Briefly explain the difference between a direct forecast and a lost-horse forecast.
Q3) do movie studios use marketing research?
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Chapter 9: Market Segmentation,Targeting,and Positioning
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Sample Questions
Q1) Which of the following is a basis used to segment U.S.organizational markets?
A) geographic
B) psychographic
C) income
D) needs
E) education
Q2) Which of the following statements best illustrates geographic segmentation?
A) GE built a downsized microwave oven to hang under kitchen cabinets.
B) Del Monte offers a line of canned fruit with no added sugar or artificial sweeteners.
C) In China, KFC sells a spicier chicken the farther away its restaurants are from the coastal areas.
D) A fast food hamburger restaurant is only open for breakfast on weekdays and Saturdays but not Sundays.
E) A gourmet grocer advertises its services on a small-audience classical music station even though there is a much larger-audience rock station in the area.
Q3) are two approaches to product positioning? Give an example of each approach.
Q4) are the criteria used to select target markets?
Q5) are the three types of data needed from consumers to develop a perceptual map?
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Chapter 10: Developing New Products and Services
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Sample Questions
Q1) product item refers to
A) the variations within a product class.
B) the entire product category or industry.
C) a group of SKUs that are closely related.
D) a specific product that has a unique brand, size, or price.
E) the services offered by an organization.
Q2) Among consumer products,advertising and wide distribution are especially important for
A) durable goods.
B) specialty products.
C) nondurable goods.
D) production goods.
E) semidurable goods.
Q3) the time of its introduction,which of the following products was the BEST example of a continuous innovation?
A) home security system
B) disposable lighter
C) microwave oven
D) electric toothbrush
E) video camera
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Chapter 11: Managing Successful Products,Services,and Brands
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Sample Questions
Q1) Consider the Huggies photo above.Equity in the Huggies family brand name has allowed Kimberley-Clark to successfully use __________ to leverage the strong Huggies brand equity among mothers when it introduced a full line of baby and toddler toiletries.
A) product line branding
B) subbranding
C) multiproduct branding
D) mixed branding
E) brand extensions
Q2) selecting a brand name,it should (1)suggest product benefits; (2)__________; (3)fit the company or product image; (4)have no legal or regulatory restrictions; and (5)be simple and emotional.
A) never have a humorous connotation
B) easy to spell and pronounce
C) not be easily imitated
D) be patented
E) be memorable, distinctive, and positive
Q3) is the brand name of the soft drink ad shown above? Why are you able to answer this question? Specifically,what packaging benefit does the firm use?
Page 13
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Chapter 12: Services Marketing
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Sample
Questions
Q1) key elements of future services include __________,mobility,and convergence.
A) automation
B) transglobalization
C) cooperation
D) personalization
E) convenience
Q2) dimension of service quality called __________ is caring,and individualized attention provided to customers.
A) assurance
B) reliability
C) responsiveness
D) empathy
E) sympathy
Q3) does it mean when we say services are intangible.How do marketers of services overcome the problems associated with intangibility?
Q4) and define the five dimensions of service quality described in the text.
Q5) aspect of the product/service element of the marketing mix warrants special attention by service marketers?
Q6) role does pricing play in the managing of services?
Page 14
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Chapter 13: Building the Price Foundation
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Sample Questions
Q1) oligopoly is a competitive market situation where
A) many sellers follow market price for identical, commodity products.
B) one seller sets the price for a unique product.
C) few sellers are sensitive to one another's prices.
D) many sellers compete on nonprice factors.
E) one or few sellers compete solely on nonprice factors.
Q2) Marginal cost refers to
A) the sum of the expenses of the firm that are stable and do not change with the quantity of a product that is produced and sold.
B) the sum of the expenses of the firm that vary directly with the quantity of a product that is produced and sold.
C) the total expense incurred by a firm in producing and marketing a product, which equals the sum of fixed cost and variable cost.
D) the average amount of money received for selling one unit of a product or simply the price of that unit.
E) the change in total cost that results from producing and marketing one additional unit of product.
Q3) Define marginal analysis.
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Chapter 14: Arriving at the Final Price
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Sample Questions
Q1) one-price policy refers to
A) setting different prices for products and services depending on individual buyers and purchase situations.
B) setting the price of a line of products at a number of different specific pricing points.
C) setting prices for all items in a product line to cover the total cost and produce a profit for the complete line, not necessarily for each item.
D) adding a fixed percentage to the cost of all items in a specific product class.
E) setting one price for all buyers of a product or service.
Q2) penetration pricing policy is MOST LIKELY to be effective when
A) lowering the price has only a minor effect on increasing sales volume and reducing unit costs.
B) the high initial prices do not attract competitors.
C) a low initial price discourages competitors from entering the market.
D) customers interpret high price as signifying high quality.
E) customers are willing to buy immediately at the high initial price.
Q3) an example of yield management pricing and explain why it is used.
Q4) is loss-leader pricing and why do retailers use it?
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Page 16
Chapter 15: Managing Marketing Channels and Supply Chains
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Sample Questions
Q1) intermediary between a manufacturer and end-user markets is referred to as a A) retailer.
B) middleman.
C) wholesaler.
D) broker.
E) distributor.
Q2) sequence of firms that performs activities required to create and deliver a product or service to ultimate consumers or industrial users is referred to as
A) strategic distribution.
B) distribution management.
C) a supply chain.
D) value chain optimization.
E) logistics.
Q3) "risk" in a transactional function refers to
A) unpredictable costs of transportation because of fuel prices.
B) product liability from poorly produced products that become defective.
C) the need to stock merchandise in anticipation of sales, which may become obsolete.
D) trying new promotional campaigns.
E) investments in new product development.
Page 17
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Chapter 16: Retailing and Wholesaling
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Sample Questions
Q1) selling franchises,an organization __________ the cost of expansion and __________ its control compared to owning its own retail outlets.
A) increases; increases B) increases; reduces C) reduces; increases
D) increases; retains about the same
E) reduces; reduces
Q2) manufacturer's sales office
A) works for several producers and carries noncompetitive, complementary merchandise in an exclusive territory.
B) takes title to merchandise but sells only to buyers who call on them, pays cash for merchandise, and furnishes their own transportation for the merchandise.
C) carries a producer's inventory, performs the functions of a full-service wholesaler and is an alternative to a merchant wholesaler.
D) does not carry inventory, typically performs a sales function, and is an alternative to agents and brokers.
E) brings buyers and sellers together to make sales.
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Chapter 17: Integrated Marketing Communications and Direct Marketing
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Sample Questions
Q1) Direct marketing has the advantage of being __________ to match the needs of specific target markets.
A) priced
B) uniform
C) customized
D) engaged
E) integrated
Q2) Sales promotion refers to
A) a short-term inducement of value offered to arouse interest in buying a product or service.
B) a single-themed IMC campaign employing multiple advertising and personal selling strategies.
C) individualized communications programs that are specifically designed with a single customer in mind because the item being sold is unique to that customer.
D) a long-term inducement of value offered to build and sustain loyal customer relationships.
E) a sequence of value inducements aimed at retaining channel members.
Q3) Explain what the hierarchy of effects is.List and explain the five stages.
Q4) Identify and briefly describe each of the five promotional elements.
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Chapter 18: Advertising, Sales Promotion, and Public Relations
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Sample Questions
Q1) and briefly define the four forms of institutional advertising.
Q2) While reading the newspaper,Belinda noticed an advertisement containing a coupon from Bayer that is redeemable only at Target stores.This ad is an example of
A) cooperative advertising.
B) co-branding.
C) a finance allowance.
D) a merchandise allowance.
E) specialty advertising.
Q3) form of click fraud is called "PTR," which is an acronym for
A) Paid-to-Read.
B) Ping-to-Read.
C) Profit-to-Read.
D) Place-to-Read
E) Priced-to-Read.
Q4) advertising messages are made up of two elements,which are A) expository and persuasional.
B) informational and persuasional.
C) informational and creative.
D) functional and persuasional.
E) creative and expository.
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Chapter 19: Using Social Media and Mobile Marketing to
Connect With Consumers
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Sample Questions
Q1) Based on the social media identified in Figure 19-2 above,Foursquare is seen as
A) low in self-disclosure and low in media richness.
B) low in self-disclosure and medium in media richness.
C) high in self-disclosure and high in media richness.
D) medium in self-disclosure and medium in media richness.
E) low in self-disclosure and high in media richness.
Q2) single social media site like Facebook or YouTube is referred to as a(n)
A) social network.
B) gaming website.
C) electronic media.
D) social media.
E) feedback media.
Q3) unintended effect of the proliferation of social media is
A) users are more connected than ever.
B) entrepreneurs are able to create start-up businesses with less financial investment than was required in the past decades.
C) Twitter is gaining in popularity and will soon surpass Facebook as the most popular social media site.
D) both YouTube and Vimeo became video sites.
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E) LinkedIn is a site for business professionals to network.
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Chapter 20: Personal Selling and Sales Management
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Sample Questions
Q1) Industry research shows that outside order getters,or field service representatives,spend 41 percent of their time selling,and another __________ is devoted to administrative tasks,meetings,service calls,travel,and training.
A) 5 percent
B) 10 percent
C) 16 percent
D) 21 percent
E) 28 percent
Q2) most basic of the three sales management functions is __________.
A) sales plan analysis
B) sales plan formulation
C) sales plan objective
D) sales plan evaluation
E) sales plan implementation
Q3) of the following tactics are used to generate leads EXCEPT __________.
A) cold canvassing
B) suggestive selling
C) toll-free numbers
D) coupons
E) trade shows
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Chapter 21: Implementing Interactive and Multi-Channel Marketing
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Sample Questions
Q1) Consider the "stickiness" marketing dashboard above for an automobile dealership.To gauge the "stickiness" of its website,the firm monitors the average time spent per unique monthly visitor (in minutes)on its website (the third metric above in the dashboard).This is done by tracking the average visits per unique monthly visitor (the first metric above)and the average time spent per visit,in minutes, (the second metric above)that is displayed on its marketing dashboard.For 2011 or "B," what was the average time spent per unique monthly visitor (in minutes)on the automobile dealership's website?
A) 4.0 minutes
B) 6.0 minutes
C) 10.0 minutes
D) 16.0 minutes
E) cannot be determined
Q2) Explain what online companies are doing to address consumer worries about privacy and security when shopping online.
Q3) all Internet users use the technology the same way,nor are they likely to be exclusive online consumers.What are the six distinct online consumer lifestyle segments defined by Harris Interactive,the U.S.market research firm?
Q4) Explain the four ways the marketspace creates value for consumers.
Page 23
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Chapter 22: Pulling It All Together: The Strategic Marketing Process
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Sample Questions
Q1) actions taken during the evaluation phase of the strategic marketing process include: (1)__________ and (2)correct negative deviations and exploit positive ones.
A) find points of difference
B) execute the marketing program
C) compare results with plans to identify deviations
D) track sales and revenues and compare with competitors
E) develop the budget by estimating revenues, expenses, and profits
Q2) Consider Figure 22-10: General Mills Marketing Dashboard Chart "D" above.The bar graph for the Drug channel would most likely cause marketers to
A) put more products into drugstores and remove product from warehouse stores.
B) reduce the choices to keep drugstores more in line with the other four distribution channels.
C) find out why the number of flavors in drugstores jumped in December and exploit that information.
D) investigate shopping preferences of customers between Warm Delights Minis over Warm Delights (regular).
E) take corrective actions that would allow drugstores to sell as much as grocery stores.
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Page 24