Marketing Principles and Practices Exam Preparation Guide
Course Introduction
This course provides a comprehensive introduction to the fundamental concepts and strategies of marketing in modern business environments. Students will explore the roles of market research, consumer behavior, product development, pricing, distribution, and promotion in creating value for customers and organizations. Emphasis is placed on the integration of marketing principles with practical applications, ethical considerations, and emerging trends such as digital marketing and global markets. Through case studies and real-world examples, students will develop the analytical and decision-making skills necessary to design effective marketing strategies that respond to dynamic market conditions.
Recommended Textbook
MKTG6 6th Edition by Charles W. Lamb
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22 Chapters
3901 Verified Questions
3901 Flashcards
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Chapter 1: An Overview of Marketing
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180 Verified Questions
180 Flashcards
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Sample Questions
Q1) Unlike a production-orientated firm,a firm embracing a sales orientation focuses on customer wants and needs so it can develop the best product at the lowest cost that will require very little selling effort.
A)True
B)False
Answer: False
Q2) Which marketing orientation assumes people will buy more goods and services if aggressive marketing techniques are used?
A)Sales
B)Production
C)Market
D)Customer
E)Marketplace
Answer: A
Q3) The focus of a production-oriented firm is on what it can make or do best.
A)True
B)False
Answer: True
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Chapter 2: Strategic Planning for Competitive Advantage
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216 Verified Questions
216 Flashcards
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Sample Questions
Q1) The founders of Phusion Projects went to college together and quickly founded their company after graduation.They did not need sophisticated market research to know their potential customers.
A)True
B)False Answer: True
Q2) University and governmental policymakers responded to consumer behavior rather than the legality of Four Loko.
A)True
B)False Answer: True
Q3) There is no such thing as "bad press." The banning of Four Loko increased its sales.
A)True
B)False Answer: False
Q4) A marketing audit helps management allocate marketing resources efficiently.
A)True
B)False Answer: True
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Chapter 3: Ethics and Social Responsibility
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95 Flashcards
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Sample Questions
Q1) Given some redundancy in its product mix,Prestige is not immune from cannibalization.
A)True
B)False
Answer: True
Q2) When developing its line of (RED)clothing,Gap might have introduced a striking red shirt made from 100% recycled materials,naturally dyed,and compostable.When advertising the shirt,Gap might have mentioned these environmentally-friendly features in addition to the fact that a portion of the shirt's proceeds would go to The Global Fund.This is an example of __________________ marketing.
A)grey
B)black
C)red
D)green
E)None of the above
Answer: D
Q3) McAfee's problem was exacerbated because it was a global brand.
A)True
B)False
Answer: True
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Chapter 4: The Marketing Environment
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163 Verified Questions
163 Flashcards
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Sample Questions
Q1) Marketing managers cannot control _____,but they can sometimes influence it.
A)where advertising is placed
B)the external environment
C)the sales force
D)the distribution strategy
E)product pricing
Q2) Many people drink bottled water today,but one national brand of bottled water was not "spring-fresh" as advertised.The water actually came from a well located in the middle of an industrial warehouse facility and next to an industrial waste site.To which organization should the consumers who thought the advertising for the bottled water was misleading complain?
A)Consumer Product Safety Commission
B)Food and Drug Administration
C)Federal Trade Commission
D)Federal Communications Commission
E)Consumer Protection Agency
Q3) On average,African Americans are nearly eight years older than all other American consumers.
A)True
B)False
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Chapter 5: Developing a Global Vision
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189 Flashcards
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Sample Questions
Q1) YouTube uploads of the halftime show provided a source of feedback for the marketing people of the Boston Blazers.
A)True
B)False
Q2) Yellow Tail lacked an integrated market communication message.
A)True
B)False
Q3) DeFeet International creates its apparel in North Carolina and sells it domestically and abroad.The company is in which stage of global business?
A)Stage one
B)Stage two
C)Stage three
D)Stage four
E)Stage five
Q4) Multinational companies typically begin the development of their global business with direct investment and continue using this strategy throughout the company's life span.
A)True
B)False
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Chapter 6: Consumer Decision Making
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220 Verified Questions
220 Flashcards
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Sample Questions
Q1) Jackie and Kevin like to eat at high-end restaurants where they can sit and enjoy their meal without rushing.An ad showing food created "fast from a can" would be appealing to Jackie and Kevin's _____ reference group.
A)nonaspirational
B)direct reference
C)membership
D)integrated
E)aspirational
Q2) There are several tools marketing managers can use to increase cognitive dissonance,which enhances consumers' attitude toward their brand.
A)True
B)False
Q3) Stimulus discrimination is a learned ability to differentiate among similar products. A)True
B)False
Q4) GDS evolved from YMS.
A)True
B)False
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Page 8
Chapter 7: Business Marketing
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227 Verified Questions
227 Flashcards
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Sample Questions
Q1) Refer to Boise Cascade.Home Depot purchases large amounts of plywood and lumber from Boise Cascade,which it sells to contractors and others in the building trade.Home Depot would be which type of customer?
A)Producer
B)Reseller
C)Government
D)Institution
E)Wholesaler
Q2) A dog food manufacturer purchases processed meat by-products that it uses in the manufacture of a dry dog food.These processed meat by-products are examples of:
A)raw materials.
B)OEM products.
C)processed materials.
D)component parts.
E)replacement parts.
Q3) OEM stands for operationally efficient marketing.
A)True
B)False
Q4) What is reciprocity? Is it illegal or unethical?
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Chapter 8: Segmenting and Targeting Markets
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217 Verified Questions
217 Flashcards
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Sample Questions
Q1) All of the following are criteria for successful market segmentation EXCEPT:
A)substantiality
B)identifiability and measurability
C)accountability
D)accessibility
E)responsiveness
Q2) In Miami,several radio stations broadcast in Spanish and play Latin music for the Hispanic people living in South Florida.The radio stations are using _____ segmentation. A)usage rate
B)ethnic
C)socioeconomic
D)geographic
E)gender
Q3) What is a market segment? Define market segmentation and discuss why market segmentation is important to the well-being of most companies.
Q4) What is geographic segmentation? Name four reasons why a company would use a regional marketing approach.Then give a specific example of a company marketing its product(s)regionally.
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Chapter 9: Decision Support Systems and Marketing Research
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189 Verified Questions
189 Flashcards
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Sample Questions
Q1) Which type of survey question is a closed-ended question designed to measure the intensity of a respondent's answer?
A)A semantic differential
B)A scaled-response question
C)An interval-based question
D)A sampling frame question
E)A bounded-frame question
Q2) A(n)_____ gathers its information from a single group of respondents by continuously monitoring the advertising,promotion,and pricing they are exposed to and the things they buy.This creates a huge database of marketing efforts and resultant consumer behavior.
A)one-way mirror observation study
B)television meter investigation
C)laser scanner experiment
D)CLT interview
E)scanner-based research system
Q3) Identify the four types of observation research and give an example of how each is used in marketing research.
Q4) Discuss the advantages of Internet surveys.
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Chapter 10: Product Concepts
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195 Verified Questions
195 Flashcards
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Sample Questions
Q1) Three aspects of packaging that are especially important in international marketing are labeling,aesthetics,and:
A)price.
B)length of distribution channel.
C)counterfeiting potential.
D)warranties.
E)climate considerations.
Q2) Firms increase the depth of their product lines for all of the following reasons EXCEPT:
A)to attract buyers with different preferences.
B)to diversify risk.
C)to further segment the market.
D)to capitalize on economies of scale.
E)to even out seasonal sales patterns.
Q3) Due to the time required to scan them,universal product codes (UPCs)are typically placed on merchandise that would be classified as shopping products.
A)True
B)False
Q4) Compare and contrast an express warranty and an implied warranty.
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Page 12
Chapter 11: Developing and Managing Products
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173 Verified Questions
173 Flashcards
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Sample Questions
Q1) Which of the following would be considered a new product?
A)A new product line
B)A new-to-the-world product
C)An addition to an existing product line
D)An improvement or revision of an existing product
E)All of these choices
Q2) At what stage of the new-product development process are most new-product ideas rejected?
A)Test marketing
B)Diffusion
C)Business analysis
D)Idea screening
E)Idea generation
Q3) Refer to Rapala.Fishing lures are most likely in the _____ stage of their product life cycle.
A)saturation
B)maturity
C)growth
D)innovation
E)decline
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Chapter 12: Services and Nonprofit Organization Marketing
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182 Verified Questions
182 Flashcards
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Sample Questions
Q1) Refer to Grizzly Watching.At Great Bear Nature Tours,the owners are careful to treat both guests and employees very well.In fact,some employees have commented that the employees are treated like they were guests.This is an example of:
A)knowing your target market
B)interior/exterior marketing
C)internal marketing
D)gap theory
E)unbundled marketing
Q2) It is difficult to achieve consistency and standardization of services because of which service characteristic?
A)Customization
B)Simultaneous production and consumption
C)Intangibility
D)Perishability
E)Heterogeneity
Q3) Discuss the limitations nonprofit marketers face when making promotion decisions and describe how they overcome these limitations.
Q4) Name and briefly define the three categories of pricing objectives for services.
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Chapter 13: Marketing Channels
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157 Verified Questions
157 Flashcards
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Sample Questions
Q1) Which of the following enables a company to use another manufacturer's already established channel?
A)Strategic channel alliances
B)Relationship channels
C)Reverse channels
D)Multiple distribution systems
E)Nontraditional channelization
Q2) Refer to Redbox.Video stores that distribute DVDs usually also sell popcorn,candy,soft drinks,and entertainment publications.Basically,they overcome discrepancies of quantity and assortment by combining products into collections or assortment that consumers want available in one place.Which channel function does this describe?
A)Logistical functions
B)Transactional functions
C)Facilitating functions
D)Purchasing functions
E)Secondary functions
Q3) What are the three factors affecting channel choice? Briefly discuss how each factor might influence a company to implement a direct channel of distribution.
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Page 15
Chapter 14: Supply Chain Management
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) A large automotive after-market business wanted to improve its current situation,which is characterized by excessive inventory,incomplete information,high logistics costs,slow reactions to environmental change,and lost profits at the retail level.Would supply chain management be of any help to the business?
A)Yes,supply chain management is designed to coordinate and integrate all the activities from raw materials to product consumption.
B)No,supply chain management is only applicable to distribution strategies for products being sold to the consumer market.
C)Yes,supply chain management would be very useful because it relies so heavily on benchmarking.
D)Yes,supply chain management would alleviate all channel conflict.
E)No,supply chain management requires an expensive investment of time and resources to make it worthwhile.
Q2) Water transportation is by far the most expensive mode of transportation,but it is also the most reliable.
A)True B)False
Q3) Discuss the financial implications of the returns management process.
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Page 16
Chapter 15: Retailing
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172 Verified Questions
172 Flashcards
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Sample Questions
Q1) A retail store can be classified according to its:
A)distribution method
B)inventory control
C)product assortment
D)management style
E)decor and atmosphere
Q2) Electronic retailing includes the 24-hour,shop-at-home television networks and online retailing.
A)True
B)False
Q3) Off-price retailers:
A)are often able to take advantage of manufacturers' faulty sales forecasting.
B)very often offer a consistent assortment of merchandise.
C)seldom stock brand name merchandise.
D)are owned by the manufacturer of the products they sell.
E)offer very deep assortments.
Q4) What is the first task of developing a retail strategy? What is involved in this task?
Q5) Discuss the two recent developments in retailing.
Q6) Compare and contrast trading up and suggestive selling.
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Chapter 16: Integrated Marketing Communications
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195 Verified Questions
195 Flashcards
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Sample Questions
Q1) The receiver's response to a message is _____ to the source.
A)decoded
B)noise
C)feedback
D)channeled
E)static filled
Q2) Public information about a company,good,or service appearing in the mass media as a news item is called:
A)personal selling.
B)advertising.
C)mass communications.
D)publicity.
E)sales promotion.
Q3) It's been a few years since odor-free paint hit the market,and a paint manufacturer estimates the paint to be in the growth stage of its product life cycle.With all the competition in the industry today,the manufacturer should use promotions that persuade buyers of odor-free paint to purchase its brand over all others.
A)True
B)False
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Page 18
Chapter 17: Advertising and Public Relations
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193 Verified Questions
193 Flashcards
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Sample Questions
Q1) Arkadium creates games adults and kids can play on the Internet.While people play these games,advertising creatively appears in or around the game.Their clients include General Motors,NBC,Warner Bros. ,and more.Arkadium is creating _____ to reach target markets for its clients.
A)an infomercial
B)a videomercial
C)a relationship tool
D)advergaming
E)an interconnect
Q2) In an advertisement for Planters peanuts and trail mix,a peanut wearing a monocle and a top hat and called Mr.Peanut represents the product quality.Mr.Peanut appears in all of the advertisements for Planters.This is an example of how a company can use a _____ executional style.
A)symbol
B)lifestyle
C)spokesperson/testimonial
D)fantasy
E)scientific evidence
Q3) Name and briefly define three forms of product advertising.
Q4) Name and briefly define the two major types of advertising.
Page 19
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Chapter 18: Sales Promotion and Personal Selling
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172 Verified Questions
172 Flashcards
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Sample Questions
Q1) List the advantages personal selling offers over other forms of promotion.
Q2) For a powerful sales presentation,salespeople must do all of the following EXCEPT:
A)ask close-ended questions.
B)incorporate visual elements that impart valuable information.
C)practice.
D)use direct eye contact.
E)use hand gestures and voice inflections.
Q3) Oakley Grove and Abraham Enterprises both market oranges and grapefruits.Oakley Grove has been in business for almost 40 years,while Abraham Enterprises has only been selling citrus fruit for about 18 months.Abraham Enterprises would like to take business away from Oakley Grove,and Oakley Grove wants to retain all of its customers.Explain which sales promotions each should emphasize in its marketing mix.
Q4) All of the following are examples of point-of-purchase promotions EXCEPT:
A)television monitors at supermarket checkouts.
B)shelf talkers.
C)newspaper inserts.
D)shelf extenders.
E)end-aisle and floor-stand displays.
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Page 20
Chapter 19: Pricing Concepts
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191 Verified Questions
191 Flashcards
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Sample Questions
Q1) Monthly output at Leisure-Time,Inc.changed from 12 to 13 prefabricated gazebos,and the total costs changed from $9,000 to $10,500.What is the marginal cost for this company?
A)$1,500
B)$2,000
C)$1,200
D)$10,000
E)$12,000
Q2) Britney is fifteen years old and wants to open her own business selling cupcakes to local coffee shops and restaurants.She is having a tough time deciding whether to base her pricing objectives on market share,dollar sales,or unit sales.Regardless of which she chooses,her pricing objective can be categorized as:
A)status quo.
B)profit oriented.
C)need oriented.
D)cost oriented.
E)sales oriented.
Q3) How does price interact with the other three Ps of the marketing mix?
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Chapter 20: Setting the Right Price
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Sample
Questions
Q1) The tactic that allows different customers to pay different prices for essentially the same merchandise bought in equal quantities is called _____.It is often found in the sale of shopping goods,specialty merchandise,and most industrial goods except supply items.
A)zoning (or basing)pricing
B)illegal price fixing
C)price maintenance
D)psychological (or odd-even)pricing
E)flexible (or variable)pricing
Q2) State laws that put a lower limit on wholesale and retail prices are called _____.In states that have these laws,selling below cost is illegal.
A)unfair trade practice acts
B)price floor laws
C)protectionism acts
D)transparency laws
E)price edicts
Q3) Penetration pricing means higher profit per unit.
A)True
B)False
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Page 22
Chapter 21: Customer Relationship Management Crm
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151 Verified Questions
151 Flashcards
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Sample Questions
Q1) While many catalog retailers send out a standard catalog to all potential customers,Lands' End uses information it has gathered about customers in its CRM system to target the catalog to the individual.This approach used by Lands' End is an example of the _____ approach.
A)shotgun
B)rifle
C)square peg
D)fishing pole
E)All of these statements can be used to describe the approach used by Lands' End.
Q2) Through customer segmentation,marketers use some past set of occurrences in order to determine what the odds are that certain other occurrences-such as a response or purchase-will take place in the future.
A)True
B)False
Q3) Customer relationship management requires that organizations be organized around customer segments.
A)True
B)False
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Chapter 22: Social Media and Marketing
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) Corina is a big fan of the British television program Doctor Who.She writes about her love of all things Whovian on her ______,called Wibbly Wobbly Ramblings,where readers can post comments about what she has written.
A)social news site
B)electronic diary
C)toolbox
D)blog
E)virtual world
Q2) Modern mobile advertising as a viable marketing strategy has become possible primarily because of the development of:
A)the microchip.
B)the PC.
C)Smartphone technology.
D)tablet laptops.
E)GPS technology.
Q3) Research indicates that the number of people who contribute content on social media sites is actually decreasing.
A)True
B)False
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Page 24