Principles of Marketing Exam Preparation Guide
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies used to identify, create, and deliver value in the marketplace. The course covers the marketing mix (product, price, place, and promotion), consumer behavior, market segmentation, targeting, and positioning. Students will explore the role of marketing in various organizational settings, develop an understanding of how to analyze market opportunities, and learn how marketing decisions are made in dynamic environments. Through case studies and applied projects, the course equips students with skills to develop effective marketing strategies that align with organizational goals and changing customer needs.
Recommended Textbook
MKTG 4th Canadian Edition by Hair
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19 Chapters
2839 Verified Questions
2839 Flashcards
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Page 2
Chapter 1: An Introduction to Marketing
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Minor League Baseball suffers from poor attendance. If salespeople for the teams try to push the sales of tickets onto local softball teams, what type of marketing management philosophy are they utilizing?
A)sales orientation
B)market orientation
C)production orientation
D)societal marketing orientation
Answer: A
Q2) The management at Fairmont Hotels has authorized its hotel staff to provide, as quickly as possible, whatever amenity-such as a special magazine or a hypoallergenic pillow-their frequent stayers request. What is Fairmont management using to provide customer value?
A)relationship selling
B)deregulation
C)customer satisfaction
D)commissioning
Answer: C
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Page 3
Chapter 2: The Marketing Environment, Social Responsibility, and Ethics
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157 Verified Questions
157 Flashcards
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Sample Questions
Q1) Ryan has grown up in a generation where there is an importance placed on social responsibility. Which group does Ryan most likely belong to?
A)Generation Xers
B)the cohort generation
C)the baby-bridging generation
D)Generation Yers
Answer: D
Q2) The leading producer of shark fin soup wanted to continue selling the soup because it believes it has a responsibility to its investors to be profitable. Which responsibility level is the soup manufacturer operating at?
A)legal
B)philanthropic
C)ethical
D)economic
Answer: D
Q3) Morals are rules people develop as a result of cultural values and norms.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Strategic Planning for Competitive Advantage
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161 Verified Questions
161 Flashcards
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Sample Questions
Q1) What is a marketing audit?
A)a thorough evaluation of the objectives, strategies, and performance of the marketing organization
B)a financial examination of the firm's marketing performance
C)a financial examination of the firm's accounting records performed by outside consultants
D)an evaluation of pricing strategies across all the relevant competitors in an industry
Answer: A
Q2) CFM Corporation of Canada learned that many of its Sequoia brand wood-burning stoves had insufficient insulation and posed fire threats. Which one of the marketing mix strategies should the stove manufacturer use to alert buyers to this problem?
A)product
B)promotion
C)production
D)pricing
Answer: B
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Chapter 4: Developing a Global Vision
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159 Verified Questions
159 Flashcards
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Sample Questions
Q1) The fact that Nigeria's inflation rate has dropped by almost 2.5 percent since the beginning of this decade would be what type of factor for a company that wanted to do business in that country?
A)legal
B)economic
C)cultural
D)technological
Q2) Having a global vision means management recognizes and reacts to international marketing opportunities, is aware of threats from foreign competitors in all markets, and effectively utilizes international distribution networks.
A)True
B)False
Q3) Pillsbury has developed different products for its various global markets. Which of the following statements offers a likely reason for its use of product invention?
A)Manufacturers cannot protect product designs with patents in other nations.
B)Globalization allows for rapid delivery of new products.
C)Consumers in different countries use products differently.
D)Various cultures respond to advertising messages differently.
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Chapter 5: Marketing Research
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) A small confectionary company has noticed a 20 percent decrease in the sale of its milk chocolate over the last three years. The company's owner wants to determine why the decline has occurred and how to reverse the trend. Once the owner has identified the problem as a consumer perception that dark chocolate provides more health benefits, what should its next step in the marketing research process be?
A)collect the data
B)recognize the marketing problem
C)analyze the marketplace
D)plan the research design
Q2) Through marketing research, the Toronto Symphony Orchestra (TSO) learned it has an older market and is not attracting younger concertgoers. It next conducted marketing research to determine if an integrated advertising campaign targeted to the younger market would be successful. In its second use of research, which type of marketing research did TSO use?
A)historical
B)descriptive
C)predictive
D)objective
Q3) What is competitive intelligence? How is it used? Provide an example.
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Page 7
Chapter 6: Consumer Decision Making
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143 Flashcards
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Sample Questions
Q1) Because her mother went to the supermarket only once a month, this is how Monica prefers to do her grocery shopping. One of the reasons Monica is such an efficient shopper is that, like her mother, Monica believes "Waste not, want not." What is the passing down of norms and values to Monica an example of?
A)consumerism
B)the socialization process
C)acculturation
D)the roles opinion leaders play in business decision making
Q2) Assume a consumer is inspecting the package of a new cereal. The label on the box is packed with fact-filled nutrition information. Give specific examples of what might occur during the selective perception process, including selective exposure, distortion, and retention.
Q3) What is the term for the series of stages in which consumers' attitudes and behavioural tendencies change over time?
A)socialization
B)the wheel of consumerism
C)the family life cycle
D)lifestyle consumption
Q4) Why do marketers study consumer behaviour?
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Chapter 7: Business Marketing
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153 Verified Questions
153 Flashcards
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Sample Questions
Q1) Refer to the scenario. Etruscan has experienced a strong increase in railing sales as a result of the growth of school football. Which type of demand is this increase for railings as a result of the need for new football stadiums?
A)joint
B)derived
C)inelastic
D)fluctuating
Q2) Business buyers use a variety of criteria to evaluate alternative products and suppliers. Name and define specific aspects of the three most important criteria.
Q3) If DuPont runs advertisements encouraging people to buy clothing that contains Lycra (a DuPont product), this would be an attempt to influence derived demand.
A)True
B)False
Q4) What is one trend in B2B online marketing?
A)growth of mobile
B)storytelling
C)building trust?d Ability to compete abroad
Q5) How does the concept of trust apply to business marketing?
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Chapter 8: Segmenting, Targeting, and Positioning
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159 Verified Questions
159 Flashcards
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Sample Questions
Q1) June LaVista owns a health and fitness gym. After dividing her customers into four segments based on income range, age, level of fitness, and other selected segmentation descriptors, she wrote out a description of each segment's size, expected growth, frequency of exercise, and overall profit potential. What did LaVista engage in?
A)profiling and analyzing her market segments
B)positioning her products to her market segments
C)targeting promotions to her market segments
D)differentiating her market segments
Q2) The Grief Store sells keepsake urns, cremation urns, funeral jewellery, and books on how to cope with the grief resulting from the death of a loved one. Which type of segmentation is the Grief Store using?
A)benefit segmentation
B)lifestyle segmentation
C)motive segmentation
D)family lifestyle segmentation
Q3) Promotion is one of the components that form a marketing mix.
A)True
B)False
Q4) What is a market segment? Why do companies engage in market segmentation?
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Chapter 9: Customer Relationship Management CRM
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133 Verified Questions
133 Flashcards
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Sample Questions
Q1) What is the focus of Stage One in the CRM cycle?
A)technology to identify customers
B)marketing research tools that are used
C)concepts and types of solutions
D)data mining
Q2) As a strategy to optimize profitability, revenue, and customer satisfaction, what would the Toronto Blue Jays implement to focus on its fan base and provide them with additional benefits?
A)organizational optimization
B)consumer relationship marketing
C)total quality management
D)customer relationship management
Q3) How does the traditional approach for acquiring data from customers occur?
A)through encoding devices
B)through media
C)through feedback mechanisms
D)through channel interactions
Q4) Technology plays a major role in any CRM system.
A)True
B)False
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Chapter 10: Product Concepts
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141 Flashcards
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Sample Questions
Q1) The Dr Pepper Snapple Group produces several different brands of beverages including 7UP, Canada Dry, Dr Pepper, Hawaiian Punch, and Snapple. What is this an example of?
A)the company's product line width
B)the company's product mix
C)the company's product line depth
D)the company's marketing mix
Q2) You are the brand manager of the Fluffit family of products. The products include a wide variety of synthetic and natural stuffing materials for furniture cushions, sleeping bags, quilts, and winter coats. The brand is a favourite among home repair enthusiasts and hobbyists of various kinds. Your firm would like to enter several foreign markets. Name and describe the three major alternative brand name choices for this global strategy. Discuss the viability of each alternative for Fluffit.
Q3) The Crayola brand is currently placed on a wide variety of products, including crayons (standard and fluorescent colours packaged in a wide variety of box sizes), markers (regular and washable), paints (watercolour and acrylic), scissors, glue, and children's clothing. Using this company as an example, answer the following questions: What is a product item? A product line? A product mix?
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12
Chapter 11: Developing and Managing Products
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) Victorinox has long manufactured Swiss Army knives and recently developed a line of upscale Swiss Army watches. Which strategies did Victorinox use to create new products?
A)new-to-the-world product
B)new product line
C)repositioned product
D)discontinuous innovation product
Q2) Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.
Q3) A company has learned that members of its target market are likely to collect more information and evaluate more brands than early adopters. They are cautious and thoughtful and do not try the product without asking someone else. The customers' dominant characteristic is deliberateness. In terms of the diffusion process, who are these customers most likely to be?
A)innovators
B)laggards
C)early majority
D)late majority
Q4) Name and describe four categories of new products.
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Chapter 12: Services and Nonprofit Organization Marketing
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160 Verified Questions
160 Flashcards
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Sample Questions
Q1) Chatha operates Rai Stables, a complete horse service that offers grooming, training, show training for handlers, boarding, and veterinary care. To maintain a quality image, Chatha insures that all employees adhere to the same performance standards. What is Chatha attempting to reduce?
A)inconsistency
B)perishability
C)intangibility
D)simultaneous production and consumption
Q2) Which of the following services is an example of information processing?
A)investment advice
B)a funeral service
C)pet neutering
D)the fitting of orthodontic braces
Q3) What are inventory services characterized by?
A)standardized preparation procedures
B)standardization
C)storage capacity
D)inability to be stored
Q4) Describe the two unique challenges faced by service providers as they decide on a pricing strategy to use.
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Chapter 13: Setting the Right Price
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) List and describe the six elements necessary for price discrimination to occur.
Q2) Sally used Refine Renovations to finish her basement. Since the organization was classed as a professional contractor, when they purchase paint and carpeting, Refine Renovations received large discounts from the base price. What is this discount called?
A)promotional allowance
B)cumulative or noncumulative quantity discount
C)functional (or trade) discount
D)rebate allowance
Q3) The Raver-Smythe Corporation (RSC) has introduced mylar-based artificial fingernails. It earns a low profit margin on the sale of each box of its new fingernails and is still able to meet its revenue objectives due to economies of scale. RSC is using a penetration pricing policy.
A)True
B)False
Q4) Functional discounts are typically calculated as the wholesale price times the accumulated margin percentages.
A)True
B)False
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Page 15
Chapter 14: Marketing Channels and Supply Chain Management
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) A manufacturer of sewing machines has decided to implement just-in-time manufacturing. What can the manufacturer expect?
A)increased inventory control staff
B)more frequent deliveries and reduced inventory
C)finished product quality reductions
D)a need for more sources of supply as backup suppliers
Q2) Horis Twild is the marketing manager for a small manufacturer of products to beautify, enhance, and maintain fish aquariums and terrariums. What was his decision NOT to move his manufacturing base overseas probably primarily based on?
A)lack of common languages and cultures among global customers
B)inability to support a multinational promotion strategy
C)legalities of producing in other countries
D)lack of global consumers
Q3) What are the three basic functions performed by channel intermediaries?
A)transactional, logistical, and facilitating
B)contacting, negotiating, and ownership
C)promoting, distributing, and bulk breaking
D)assorting, accumulating, and allocating
Q4) Describe some of the challenges that a business would face in going global.
Page 16
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Chapter 15: Retailing
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145 Flashcards
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Sample Questions
Q1) Anne has just opened a specialty store that will sell pet caskets and other items used to bury deceased pets. Because it will be a specialty store, she should have a broad product assortment with moderately low prices.
A)True
B)False
Q2) What types of operations are small neighbourhood florists, shoe stores, and ethnic food markets most likely to be?
A)franchise outlets
B)membership clubs
C)chain stores
D)independent retailers
Q3) Snow White Toys sells Disney based products to children for their own enjoyment. What would Snow White Toys be characterized as?
A)a wholesaler
B)a retailer
C)a business
D)a distributor
Q4) Define retailing. Name two ways that retailing affects people.
Q5) What is a department store? What problems do department stores face today?
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Chapter 16: Marketing Communication
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145 Flashcards
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Sample Questions
Q1) When a marketer sends a message to the target market, the marketer must first decode the symbols used.
A)True
B)False
Q2) What is promotion? Why is it a vital part of a company's marketing mix?
Q3) Communication via telephone is not considered personal selling because it is not face to face.
A)True
B)False
Q4) Several factors inherent to the product itself influence the promotional mix. Name and briefly describe three of these factors.
Q5) In terms of the AIDA process, public relations has its greatest impact in gaining attention for a company, good, or service.
A)True
B)False
Q6) Draw a diagram that illustrates the communication process.
Q7) Several factors affect the choice of promotional mix. Name five of these factors.
Q8) What is integrated marketing communications (IMC)? How is IMC implemented?
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Chapter 17: Advertising, Public Relations, and Direct Response
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) An ad for the General Electric Advantium microwave shows people rushing from one place to another and has the headline, "If your life moves this fast, maybe your oven should too." According to the ad, even though there never seems to be enough time to cook, this microwave will help you prepare home-cooked meals. Which type of executional style is this ad using?
A)humorous
B)lifestyle
C)mood
D)demonstration
Q2) Stormbreaker, a spy movie, details the story of Alex Rider who, after the death of his uncle, is recruited as an MI6 spy. Armed with a special set of gadgets, Rider's mission is to save millions of lives. In James Bond fashion, the Cross pen serves as one of the key gadgets in the film. The maker of Cross pens paid to have its pen featured in this movie.
What is this an example of?
A)advertising
B)a sales promotion
C)paid-for public relations
D)product placement
Q3) What is public relations? What is publicity?
Page 19
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Chapter 18: Sales Promotion and Personal Selling
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145 Verified Questions
145 Flashcards
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Sample
Questions
Q1) After deciding to end its backing of Canada's top tennis tournament, Molson has now agreed to sponsor the Canadian Open Tennis Championships in a new five-year, $20 million rights fee and media deal. Which promotional activity was most likely used in making this deal?
A)direct sales management
B)personal selling
C)public relations
D)sales promotion
Q2) What is the set of steps a salesperson goes through to sell a particular product?
A)the (P-O-S) cycle
B)the sales presentation
C)the sales process
D)the sales continuum
Q3) Sales promotions are primarily short-term incentives. Immediate purchase is usually the goal of sales promotion.
A)True
B)False
Q4) Discuss personal selling in a global marketplace.
Q5) What is the impact that technology has on personal selling?
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Chapter 19: Social Media and Promotion
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123 Verified Questions
123 Flashcards
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Sample Questions
Q1) Sunlight Bakery wants to determine the conversion rate of its Facebook friends. What should the bakery use to accomplish this?
A)social media monitoring
B)public relations measurement
C)a social CRM system
D)social media measurement
Q2) Caitlin wanted to hire a graphic designer for her new company's design team. Instead of calling qualified candidates for interviews, she threw a challenge on the company's Facebook page asking people to design an attractive logo. She offered the job to the winner of the challenge. What is Caitlin's method of hiring an example of?
A)referring
B)public relations
C)personal selling
D)crowdsourcing
Q3) The second action a marketing team should take when beginning a social media campaign is to track brand mentions.
A)True
B)False
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