Principles of Marketing Exam Practice Tests
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies involved in the marketing process. The course covers the development of marketing plans, market research, consumer behavior, segmentation, targeting, positioning, and the marketing mix, which includes product, price, place, and promotion strategies. Through case studies and real-world examples, students gain an understanding of how organizations create value for customers in competitive environments, address ethical considerations, and adapt to dynamic market trends. This foundational course equips students with the knowledge and skills required to analyze marketing opportunities and make informed decisions in various business settings.
Recommended Textbook
Marketing Defined Explained Applied 2nd Edition by Michael P Levens
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Page 2
Chapter 1: The Meaning of Marketing
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Sample Questions
Q1) A company that focuses on building value-added relationships is most likely to place the highest value on which of the following?
A) cutting short-term costs
B) building long-term relationships
C) attracting one-time customers who are highly profitable
D) building short-term relationships
E) minimizing the need for communication between company and consumer
Answer: B
Q2) Which of the following groups is the ultimate judge of a product's utility?
A) marketers
B) management
C) consumers
D) suppliers
E) government agencies
Answer: C
Q3) A company that develops green marketing products is displaying a concern for social responsibility.
A)True
B)False
Answer: True
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Chapter 2: The Market in Marketing
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Sample Questions
Q1) The first step of the business buying process is ________.
A) general need description
B) evaluations of proposals
C) problem or need recognition
D) selection of an order routine
E) performance feedback
Answer: C
Q2) Of the different types of buying situations, the modified rebuy presents the fewest decisions for a business buyer to make.
A)True
B)False
Answer: False
Q3) A consumer product may be intended for individual or business use.
A)True
B)False
Answer: False
Q4) Marketing can influence consumers' perceptions of a product's utility.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Planning and Marketing in an Organization
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Sample Questions
Q1) Explain how marketing performance is evaluated and how that evaluation should be used.
Answer: Marketing performance is measured relative to marketing objectives and the overall financial investment in marketing. A return on marketing investment (ROMI) identifies the relative contributions of each marketing activity, such as advertising or promotions, to the overall objectives. Information from ROMI measures should be used to determine how to allocate funds to the most effective marketing activities.
Q2) What type of strategy should a company use to manage its cash cows?
Answer: Because a cash cow generates cash without much investment, a company should use the profits to support other products and services.
Q3) Which of the following is the statement of how a business intends to achieve its marketing objectives?
A) business vision
B) business mission
C) marketing mix
D) marketing strategy
E) marketing audit
Answer: D
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5
Chapter 4: A Broader Perspective on Marketing
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Sample Questions
Q1) What is the difference between corporate social responsibility and the social marketing concept?
Q2) Advertisements for Dodge automobiles include the slogan "Dodge. Grab life by the horns." This slogan most strongly appeals to which of the following basic American cultural beliefs?
A) You can take control of yourself and your environment.
B) Change equals progress.
C) Time is money.
D) There is strength in diversity.
E) People have a responsibility to give back.
Q3) Puffery is a term for a(n)________.
A) straightforward promotional message
B) claim of superiority that cannot be proven true or False
C) emotional appeal to consumers
D) subliminal appeal to consumers
E) exaggerated claim that can be disproven
Q4) Identify three areas of marketing that are of particular interest to legislators, and explain why these areas are of particular interest.
Q5) Explain the social marketing concept and discuss two examples of its use.
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Chapter 5: Global Marketing
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Sample Questions
Q1) Which of the following cultural values refers to how comfortable individuals are with participating in decision making regardless of their position?
A) uncertainty avoidance
B) power distance
C) individualism versus collectivism
D) masculinity versus femininity
E) long-term versus short-term orientation
Q2) The Tim Hortons chain accounts for more than half of all the donut and coffee stores in Canada. The chain's red-and-white store banners are fixtures in many Canadian communities. In 2001, the first Tim Hortons appeared in the United States through a contractual agreement allowing an independent operation to adopt Tim Hortons' entire way of doing business. This agreement is an example of a(n)________.
A) direct investment
B) franchise
C) contract manufacturer
D) joint ownership
E) joint venture
Q3) Describe the factors that might draw a company into global trade.
Q4) Briefly explain the cultural value of uncertainty avoidance.
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Chapter 6: Value for Customers
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Sample Questions
Q1) Sally purchased Brand X lotion. In comparing her perception of how the lotion made her skin feel and look to her expectations for Brand X lotion, Sally was measuring her level of ________.
A) customer perceived value
B) customer satisfaction
C) loyalty
D) demand
E) customer lifetime value
Q2) Briefly explain why relationship marketing is becoming more important in today's market.
Q3) Information collected through CRM is stored in a ________.
A) customer database
B) data mine
C) marketing mix
D) loyalty program
E) balance sheet
Q4) Two products with identical purchase prices may have very different product costs.
A)True
B)False
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Chapter 7: A Perspective on Consumer Behavior
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Sample Questions
Q1) Marketers can expect people who are at the same life stage to process stimuli in the same ways.
A)True
B)False
Q2) Attitudes can be changed through experiences or education.
A)True
B)False
Q3) Which of the following is NOT considered an important American subculture by marketers?
A) Hispanics
B) African Americans
C) the youth market
D) opinion leaders
E) Asians
Q4) Culture's level of influence on the individual varies from country to country.
A)True
B)False
Q5) Explain how the process for purchasing and consuming luxury products differs from the purchase and consumption of other products.
Page 9
Q6) Give two examples of how the digital environment influences consumer behavior.
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Chapter 8: Consumer Insight
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Sample Questions
Q1) Which of the following research methods is generally the LEAST flexible?
A) mail
B) telephone
C) online surveys
D) online panels
E) personal interviews
Q2) Which of the following is true of ethnographic research?
A) It is conducted within traditional focus groups.
B) It is less structured than focus group research.
C) It provides researchers with secondary data.
D) It is best suited for collecting quantitative information.
E) It is a research option when observation is not possible.
Q3) A ________ is a series of steps that include collection, analysis, and presentation of information for use in making marketing decisions.
A) primary data collection
B) secondary and primary data collection
C) marketing decision support system
D) pure research process
E) marketing information system
Q4) Briefly compare and contrast the three general categories of research design.
Page 10
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Chapter 9: The Brand
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Sample Questions
Q1) Explain how cannibalization and multibranding are related.
Q2) An increasing number of retailers have created their own ________, almost completely replacing non-branded products.
A) approach products
B) private label brands
C) avoidance products
D) service goods
E) specialty products
Q3) A(n) ________ is a promise to deliver specific benefits associated with products or services to consumers.
A) service
B) brand
C) license
D) patent
E) alliance
Q4) Dove marketers go beyond the brand's cleansing cream properties and talk about the resulting benefit of softer skin. This is known as product attributes in brand positioning.
A)True
B)False
Page 11
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Chapter 10: Segmenting, Targeting, and Positioning
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Sample Questions
Q1) Using an undifferentiated marketing strategy, a company will create a distinctive marketing plan for each segment.
A)True
B)False
Q2) The business segmentation variable of ________ refers to where power resides in an organization.
A) demographics
B) purchasing approaches
C) customer operating characteristics
D) personal characteristics
E) benefits sought
Q3) At one time Miller Beer was known as the "champagne of bottled beer." Unfortunately, Miller drinkers did not drink much beer. To increase sales, Miller was repositioned to attract the members of the middle working class. This segmentation approach is ________.
A) user loyalty
B) usage rate
C) needs
D) behavioral
E) psychographic
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Chapter 11: The Marketing Plan
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Q1) What kind of information might a marketer include in a marketing plan to convey an understanding of who the company's customers are and what their specific needs are?
Q2) Average cost per transaction is needed to determine ________.
A) future sales growth rates
B) current sales rates
C) payroll rates
D) the monthly fixed costs
E) the break-even point
Q3) Which section of a marketing plan would most likely contain a break-even analysis?
A) measurement and controls
B) marketing situation
C) forecasting
D) marketing strategy
E) executive summary
Q4) The forecasting section of a marketing plan draws on data analysis rather than subjective judgment.
A)True
B)False
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Chapter 12: Product and Service Strategies
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Sample Questions
Q1) Style makes products more attractive and easier to use.
A)True
B)False
Q2) A focus group would most likely be used in the ________ stage of new product development.
A) idea screening
B) concept development
C) test marketing
D) commercialization
E) business analysis
Q3) Style is a larger concept than design. Design describes the appearance of a product.
A)True
B)False
Q4) In the business market, wheat and lumber are examples of ________.
A) components
B) equipment
C) processed materials
D) MRO products
E) raw materials
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Chapter 13: Pricing Strategies
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Sample Questions
Q1) Identify and explain a key assumption that underlies antitrust legislation.
Q2) A local restaurant sells lunch entrees for $7.95, $9.95, and $11.95. From this information, you can infer the restaurant uses which of the following?
A) price discrimination
B) odd pricing and price lining
C) dynamic pricing and price lining
D) cost-based pricing and loss-leader pricing
E) dynamic pricing and loss leader pricing
Q3) As production workers become better organized and more familiar with equipment, the average cost per unit decreases. This is called the ________.
A) demand curve
B) experience curve
C) skimming cost
D) penetration cost
E) marginal utility
Q4) A demand curve never appears on a graph as a straight line.
A)True
B)False
Q5) Explain why break-even analysis is a useful tool for marketers.
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Chapter 14: Supply Chain and Distribution Strategies
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Q1) When two Taco Bell restaurants have a disagreement over who should be able to sell in quantity at a discount to the local high school band, they are in a ________ conflict.
A) vertical
B) multichannel
C) no-win
D) horizontal
E) functional
Q2) To a producer of goods, a greater number of channel levels means ________ and greater channel complexity.
A) less distance between producer and end consumer
B) less control over the distribution process
C) fewer potential channel conflicts
D) higher taxes
E) fewer channel partners
Q3) Explain how a channel can provide a marketer with contact efficiency.
Q4) Describe the main parties in the distribution process and explain why a superior distribution system requires the cooperation of all members in the distribution channel.
Q5) How can marketers measure the performance of members of their marketing channel?
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Chapter 15: Retailing and Wholesaling Strategies
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Sample Questions
Q1) Which of the following statements about manufacturers' agents is true?
A) Manufacturers' agents are also called manufacturers' brokers.
B) Manufacturers' agents most typically work for only one manufacturer.
C) Manufacturers' agents have little control over the selling price of the products they carry.
D) Manufacturers' agents have unlimited sales territories.
E) Manufacturers' agents are entirely supervised by the manufacturer for whom they sell.
Q2) Which of the following is true about sales branches, sales offices, and manufacturers' showrooms?
A) They are all manufacturer-owned intermediaries.
B) They all determine the marketing strategy for the products they sell.
C) They are all independent intermediaries.
D) They all carry inventory and take title to the inventory they carry.
E) They perform the same functions as self-service wholesalers.
Q3) How do merchant wholesalers and agents/brokers differ?
Q4) Compare the responsibilities associated with full-service merchant wholesalers to those associated with limited-service merchant wholesalers.
Q5) Describe how nonstore retailing is expected to grow in the coming decade.
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Chapter 16: Advertising and Sales Promotion Strategies
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Sample Questions
Q1) Compare the advantages and disadvantages of the marketing communications tools of advertising and public relations.
Q2) Which of the following is a direct communication that marketers can use to communicate with a target market?
A) personal selling
B) advertising
C) sales promotions
D) sponsorships
E) public relations
Q3) Communication between consumers about a brand, marketing offer, or marketing message is referred to as ________.
A) publicity
B) public relations
C) direct marketing
D) word of mouth
E) personal selling
Q4) How would a unique selling proposition most likely be used to express an idea in an advertising message?
Q5) Briefly describe the steps of the marketing communication process.
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Chapter 17: Personal Selling and Direct Marketing Strategies
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Q1) Psychographics data in a customer database used by direct marketers include information regarding a customer's ________ and ________.
A) interests; income
B) activities; opinions
C) age; buying preferences
D) opinions; age
E) hobbies; family stage
Q2) Order taker and customer service representative are among the key sales roles.
A)True
B)False
Q3) What should a salesperson do during the fifth step of the personal selling process?
A) block objections
B) anticipate and address 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) Why is telemarketing considered to be one of the most intrusive forms of direct marketing?
Q5) What is the difference between catalogs and direct mail?
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Chapter 18: The Communications Mix
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Q1) Because of the information technology revolution, few major companies today use ad agencies to develop advertising campaigns.
A)True
B)False
Q2) Thirty years ago, ________ dominated the media landscape.
A) radio and cable television
B) network television and print
C) outdoor media and interactive media
D) radio and mobile media
E) interactive media and television
Q3) ________ is a qualitative assessment of the value of a message exposed in a particular medium.
A) Media reach
B) Media impact
C) Media engagement
D) Media efficiency
E) Impression
Q4) How do advertisements in digital media such as the Internet differ from advertisements in other types of media?
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Chapter 19: The Marketing Mix
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Q1) The marketing team of a company that has acquired a new brand should be most concerned with which of the following?
A) changing the new brand's positioning
B) determining whether any brands in the portfolio should be repositioned
C) maintaining the new brand's current positioning
D) maintaining the positioning of brands in the portfolio
E) ensuring that the new brand's target market does not overlap with any of the existing brands' target markets
Q2) Explain how effective implementation of marketing-mix models can improve the efficiency of marketing funds allocated across different media.
Q3) ________ involves assigning portions of the marketing budget to each marketing-mix element so as to maximize revenues or profits.
A) Marketing-mix modeling
B) Marketing-mix theory
C) Marketing-mix optimization
D) Return on investment
E) Return on marketing initiatives
Q4) Identify two applications for marketing-mix models.
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Chapter 20: Marketing Performance Measurement
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Q1) Simpson Products, Inc. requires that any marketing campaign it implements has a minimum expected ROMI factor of 2. This is Simpson Products' hurdle rate.
A)True
B)False
Q2) Key performance indicators are measurements that help an organization do which of the following?
A) create marketing strategies for new products
B) quantify progress toward the achievement of marketing objectives
C) analyze competitors' media strategies
D) determine employee compensation packages
E) analyze the artistic value of marketing communications
Q3) Because the team has opted to increase its use of marketing measurements, additional staff needs to be hired and trained to analyze data and develop insights based on the data. This is an example of a ________ issue.
A) qualitative
B) process
C) structural
D) brand health
E) legal
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