Principles of Marketing Exam Materials
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and practices that drive marketing in contemporary organizations. The course explores the marketing environment, consumer behavior, market segmentation, targeting and positioning, and the development of effective marketing strategies. Students will examine the roles of product, price, place, and promotion (the marketing mix), as well as the importance of ethical and socially responsible marketing. Through case studies and practical examples, students will gain insight into how organizations identify and satisfy customer needs to achieve organizational goals in a dynamic marketplace.
Recommended Textbook
MKTG6 6th Edition by Charles W. Lamb
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22 Chapters
3901 Verified Questions
3901 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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Sample Questions
Q1) _____ is a strategy that focuses on keeping and improving relationships with current customers.
A)Commitment selling
B)Relationship marketing
C)Transactional marketing
D)Market engineering
E)Organization-customer synergy
Answer: B
Q2) Salespeople who work for market-oriented organizations are generally perceived by their customers as problem solvers and important links to supply sources and new products.
A)True
B)False Answer: True
Q3) The marketing concept states that the social and economic justification for an organization's existence is the satisfaction of customers' wants and needs while meeting organizational objectives.
A)True
B)False Answer: True
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Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) Aldi is a no-frills grocery chain.It sells grocery staples right out of crates and boxes with emphasis on low-priced,private label brands.Aldi stores are typically about one-third the size of the traditional supermarket.By controlling expenses,Aldi enables its customers to save 30 to 50 percent compared to Kroger customers.The chain targets bargain hunters who are willing to rent a cart and bag their own groceries.Aldi has a:
A)market-homogeneous focus
B)cost competitive advantage
C)product aggregation strategy
D)revenue-based competitive advantage
E)profit-enhanced advantage
Answer: B
Q2) Disney is a large corporation with many SBUs creating products for every individual in the typical (and not so typical)family.So,these units can be seen as niche marketing.
A)True
B)False
Answer: False
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4
Chapter 3: Ethics and Social Responsibility
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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) For every home built by Habitat for Humanity,Whirlpool Corporation has given and continues to give free kitchen appliances to the deserving family.At first Whirlpool gave the appliances with no promotion,then Whirlpool began talking about its philanthropy in its advertising campaigns.Is this unethical behavior according to the pyramid of social responsibility?
Answer: Students' answers to this question may vary,but the better students will understand that economic performance is the foundation of the pyramid.If Whirlpool's advertising of its donations increases profit,then it is not wrong.The company has not abandoned its efforts to improve the quality of life.
Q3) The acquisition of Blacksmith left Prestige's depth in household brands unchanged.
A)True
B)False
Answer: True
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Chapter 4: The Marketing Environment
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Sample Questions
Q1) According to the Natural Marketing Institute,all of the following are likely consumer trends over the next ten years EXCEPT:
A)an increased focus on the acquisition of luxury items and "status symbols"
B)taking greater steps toward proactive health care
C)making "meaningful green" initiatives that affect environmental,social,and economic dimensions
D)getting off the grid
E)All of the above are likely trends
Q2) The publisher of Ebony magazine has forged an alliance with Dan River,Inc.to create luxury bed and bath products for the newly developed Ebony Home brand.Ebony Home will use the publisher's long history and expertise to market to the African American market.The African American market is the _____ for the Ebony Home brand.
A)target market
B)buying center
C)aggregated unit
D)consumer cluster
E)demographic sample
Q3) Describe some basic characteristics of the African American market.
Q4) What is the CPSC? How does it affect marketing?
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) Traditionally,marketing-oriented multinational corporations have operated somewhat differently in each country,with segmentation strategies providing different marketing mixes.Today,there has been a trend toward global marketing standardization.What is global marketing standardization? Can companies truly follow the basic premise of the global marketing standardization concept?
Q2) Global marketing standardization presumes that the markets throughout the world are becoming more alike.
A)True
B)False
Q3) Describe the four stages of business globalization.Why do most companies stop when they reach the third stage?
Q4) International trade does not always involve cash.Sometimes companies accept all or part of the payment for goods or services in the form of other goods or services.This is known as:
A)export trading
B)crossdocking
C)exchange modification
D)domestic barter
E)countertrade
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) According to Maslow's hierarchy of needs model,the first needs most people would try to satisfy are their _____ needs.
A)safety
B)physiological
C)economic
D)esteem
E)derived
Q2) All of the following are individual factors influencing consumer buying decisions
EXCEPT:
A)gender
B)age
C)family
D)personality
E)life cycle stage
Q3) Which of the following items is MOST likely to be a fully planned purchase?
A)a pair of jeans
B)a bottle of soda pop
C)a motorcycle
D)a flashlight
E)All of the above.
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Chapter 7: Business Marketing
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227 Flashcards
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Sample Questions
Q1) NAICS data are helpful for analyzing,segmenting,and targeting markets.The system was developed by:
A)large manufacturers in United States and Mexico that produce similar goods.
B)the North American Free Trade Agreement partners.
C)Brazil,Chile,Argentina,Canada,and the United States working together in a joint venture.
D)the SIC committee.
E)the U.S.government.
Q2) Another name for business supplies like pens,paper,and file folders is:
A)processing goods.
B)components.
C)OEM parts.
D)MRO items.
E)accessories.
Q3) Businesses that buy finished goods and sell them for a profit are called:
A)inventory carriers.
B)producers.
C)distribution networks.
D)resellers.
E)business facilitators.
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) All of the following are steps in the market segmenting process EXCEPT:
A)determining the objectives of the segmentation strategy
B)profiling and analyzing segments
C)designing,implementing,and maintaining appropriate marketing mixes
D)selecting a market or product category for study
E)choosing a basis or bases for segmenting the market
Q2) Firms can be categorized by the type of purchasing strategy they use._____ usually contact familiar suppliers and place an order with the first that can meet product and delivery requirements.
A)Strugglers
B)Actualizers
C)Optimizers
D)Satisficers
E)Experiencers
Q3) Increasing share of customer means getting more customers.
A)True
B)False
Q4) The purchasing strategies of business buyers may provide useful segments.Two purchasing profiles for business buyers have been identified.Name and describe them.
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Chapter 9: Decision Support Systems and Marketing Research
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Sample Questions
Q1) A marketing decision support system (DSS)is an interactive,flexible,computerized information system that bypasses information-processing specialists and gives managers access to useful information from their own desks.
A)True
B)False
Q2) Refer to University Research Study.Because the students must finish the research project within a semester and do not have much money to conduct the research,which of the following would be the best quickest and least expensive method of collecting survey data?
A)In-home personal interviews
B)Mail surveys
C)Internet surveys
D)Marketing research aggregators
E)Mall intercept interviews
Q3) The difference between a traditional focus group and an online focus group is that there is no moderator in the online group like there is in a traditional group.
A)True
B)False
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Chapter 10: Product Concepts
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Sample Questions
Q1) Which type of product modification changes a product's dependability or durability?
A)Functional
B)Style
C)Aesthetic
D)Quality
E)Primary
Q2) The brand name of a manufacturer is known as a(n)_____ brand.
A)private
B)manufacturer's
C)individual
D)captive
E)family
Q3) Which of the following statements about planned obsolescence is true?
A)Environmentalists support planned obsolescence.
B)A company that is interested in producing a quality product would never engage in planned obsolescence.
C)Style modification creates planned obsolescence.
D)Planned obsolescence is not an ethical issue.
E)All of the statements about planned obsolescence are true.
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Page 12
Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Refer to Going to the Dogs.One challenge to adoption of the dog day care is the fact that dog owners are used to paying a somewhat minimal fee for boarding their dogs in a kennel,while a day care center may demand many times as much for the same time span.This suggests that the _____ of the new product may affect the rate of diffusion.
A)compatibility
B)complexity
C)relative advantage
D)observability
E)trialability
Q2) Refer to Fitbit.The idea for the Fitbit was generated from an employee retreat in which everyone was encouraged to think of unlimited product ideas for the fitness-minded consumer.Participants did not critique any of the ideas,as the goal at that point was just to generate ideas.What idea-generating technique does this illustrate?
A)Brainstorming
B)Brain dumping
C)Snowball sampling
D)Laddering
E)Entropy
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Chapter 12: Services and Nonprofit Organization Marketing
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182 Flashcards
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Sample Questions
Q1) Refer to The Ritzy Canine.While it is difficult for dog owners to evaluate the service their pooch will receive,they are impressed with the upscale design and amenities offered.To cope with the problems of service _____,the facilities at The Ritzy Canine are upscale in design to give the impression of excellent treatment.
A)perishability
B)homogeneity
C)intangibility
D)inseparability
E)heterogeneity
Q2) Refer to Boutique Hotels.When a guest asks an employee for directions to a local gallery or museum,the service received cannot be stored or warehoused.This service,therefore,is characterized as:
A)inseparable
B)perishable
C)intangible
D)unstable
E)homogeneous
Q3) What are the five key issues to remember when developing distribution strategies for service organizations?
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Page 14
Chapter 13: Marketing Channels
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Sample Questions
Q1) Kayak.com is a company that allows customers to efficiently search databases to find the best airline and hotel deals all over the Web.Kayak does not make bookings but rather provides recommendations for the best travel plans.Travel providers pay Kayak a commission when customers click through to their sites.Kayak.com,travelers,the airlines,and the hotels are all part of a:
A)facilitating agency
B)marketing mix intermediary
C)selective promotion channel
D)marketing channel or channel of distribution
E)transportation channel or channel of movement
Q2) Channel conflict:
A)always has an adverse effect on the members of the channel
B)is not caused by ideological differences,because such differences would prevent the members from ever operating as a channel
C)is often caused by an inability of some channel members to keep up with the changing times
D)can appear as either internal or external
E)does not occur when multiple distribution channels are used
Q3) Discuss the four main areas of importance in service distribution.
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Page 15
Chapter 14: Supply Chain Management
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Sample Questions
Q1) Explain what is meant by supply chain integration and list the six types of integration sought by firms interested in providing top-level service to customers.
Q2) _____ integration requires firms within a supply chain to link seamlessly so that they can streamline work processes and thereby provide smooth,high-quality customer experiences.
A)Relationship
B)Social
C)Functional
D)Internal operations
E)Material and service supplier
Q3) A firm that specializes in the order fulfillment process is called a(n):
A)third-party logistics firm (3PL)
B)intermediate distributor
C)industrial distributor
D)merchant wholesaler
E)ABC firm
Q4) List the eight critical business processes on which supply chain managers must focus.
Q5) Discuss the financial implications of the returns management process.
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Chapter 15: Retailing
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Sample Questions
Q1) Discount stores are retail chains that compete on the basis of low prices,high turnover,and high volume.Name and briefly describe four types of discounters,and give an example of each type.
Q2) Nordstrom typically charges the full "suggested retail price" on its merchandise,unlike discounters,factory outlets,and off-price retailers,which use low prices to attract shoppers.
A)True
B)False
Q3) Jennifer owns a greeting card store where she also sells women's purses,Crocs shoes for the whole family,Jibbitz charms,cell phone skins,Sandy Lion stickers,Yankee candles,Godiva chocolates,Precious Memories figurines,beaded jewelry,and stuffed animals.Jennifer uses multibrand merchandising.
A)True
B)False
Q4) M-commerce involves consumers using wireless mobile devices to connect to the Internet and shop.
A)True
B)False
Q5) Compare and contrast trading up and suggestive selling.
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Chapter 16: Integrated Marketing Communications
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Sample Questions
Q1) The promotional mix is the combination of promotional tools used to reach the target market and fulfill the organization's overall goals.
A)True
B)False
Q2) _____ consists of all marketing activities that stimulate consumer purchasing such as coupons,contests,free samples,and trade shows.
A)Sales promotion
B)Publicity
C)Personal selling
D)Advertising
E)Sponsorship
Q3) Nature Valley uses popular magazines,radio,and cable television to promote its brand of trail mix.Nature Valley uses mass communication.
A)True
B)False
Q4) Publicity is free.
A)True
B)False
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Page 18
Chapter 17: Advertising and Public Relations
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Sample Questions
Q1) Advertising in the form of a 30-minute advertisement that resembles a television talk show is called a(n):
A)Infomercial.
B)extended sales pitch.
C)mega-mercial.
D)ad expander.
E)prolonged advertisement.
Q2) Ads for M&M candy that prominently feature the M&M candies in real-life situations are using a _____ appeal.
A)slice-of-life
B)mood or image
C)fun and pleasure
D)demonstration
E)spokesperson/testimonial
Q3) _____ is the cost of reaching one member of the target market.
A)Cost per contact
B)Cost per thousand
C)Gross rating
D)GRP
E)Effective reach
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Chapter 18: Sales Promotion and Personal Selling
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Sample Questions
Q1) Compare and contrast relationship selling and traditional personal selling.
Q2) Jefferson Smurfit Company is a multi-billion-dollar supplier of packaging materials.One of its salespeople rearranged production schedules at three different plants to satisfy an unexpected demand for boxes from General Electric.The salesperson's action is typical of the company's sales philosophy and indicates an emphasis on:
A)consultative promotion.
B)relationship selling.
C)adaptive selling.
D)transformational selling.
E)transactional buying.
Q3) All of the following would be a target for a trade sales promotion offered by Rubbermaid,a manufacturer of storage and organization products,EXCEPT:
A)a retailer called The Container Store.
B)a kitchen department in a large discount store.
C)a wholesaler of plastic storage bins.
D)a Rubbermaid distributor.
E)a consumer who needs to organize her college dorm room.
Q4) What is automated e-mail follow-up marketing? How does it work?
Q5) What is sales promotion? What are the objectives of sales promotion?
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) Regency,Inc.makes disposable cap and gown sets for graduations.Each cap and gown set sells for $15.The average variable cost for manufacturing ten cap and gown sets is $100.Total fixed costs for the year equal $65,000.Calculate the break-even point in units.
A)650
B)765
C)1,300
D)4,334
E)13,000
Q2) List the three categories of pricing objectives and then two specific strategies in each category that a marketer could implement to achieve those objectives.
Q3) Selling $20 gift cards for $10 is,essentially,a variation of a loss-leader promotion.
A)True
B)False
Q4) A firm has maximized its profits when its marginal revenue exceeds its marginal cost.
A)True
B)False
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Chapter 20: Setting the Right Price
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Sample
Questions
Q1) Tickets to a combined amusement park and water slide were $49 for the day.Then the company gave customers the option to purchase tickets for either the amusement park or the water slide for $18.To help keep costs in line,the park management also began charging its customers a small parking fee.Initially,the cost of parking was figured into the $49 price.The amusement park is using:
A)price lining.
B)potential (or base)pricing.
C)Unbundling.
D)professional services pricing.
E)price maintenance.
Q2) Black Friday discounting can best be defined by which of the following?
A)seasonal discount
B)quantity discount
C)functional discount
D)promotional discount
E)none of the above
Q3) Rebates involve a cash refund for the purchase of a product during a specific period.
A)True
B)False
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Page 22
Chapter 21: Customer Relationship Management Crm
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Sample Questions
Q1) How can a company measure its success at implementing customer relationship management (CRM)techniques? How does empowerment influence CRM marketing?
Q2) The core of the data warehouse is:
A)empowered employees.
B)transaction channels of communication.
C)point-of-sale interactions.
D)the database.
E)a compiled list.
Q3) Which of the following statements about a CRM system is true?
A)A critical component of a CRM system is the use of the appropriate technology to store and integrate customer data.
B)A CRM system operates on the theory that all customers are equally important.
C)Due to privacy laws,a CRM system only disseminates customer information to those who are actually in day-to-day contact with customers.
D)A company using a CRM system must view its customers as bits of data.
E)All of these statements about a CRM system are true.
Q4) Distinguish between a compiled list and a response list.Which is most valuable to marketers?
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Page 23
Chapter 22: Social Media and Marketing
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Sample Questions
Q1) Identify five reasons for the recent popularity of mobile marketing.
Q2) All of the following are examples of social media tools and platforms EXCEPT:
A)a media sharing Web site.
B)an AM/FM transistor radio.
C)an iPhone.
D)a blog.
E)Twitter.
Q3) Social commerce combines social media with the basics of e-commerce.
A)True
B)False
Q4) Location-based social networking sites:
A)are a hybrid of media sharing and social networking sites.
B)distribute digital audio and video files serially for other people to listen to or watch.
C)are essentially short messaging systems designed primarily for internal communication.
D)combine the fun of social networking with the utility of location-based GPS technology.
E)allow users to archive and share photos and interesting external links.
Q5) What is a podcast? How are they used?
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