Principles of Marketing Exam Questions
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies used in the marketing of goods and services. The course covers topics such as the marketing environment, consumer behavior, market segmentation, targeting, positioning, product development, pricing strategies, distribution channels, and integrated marketing communications. Through case studies and real-world examples, students will learn how organizations identify customer needs, create value, and build lasting customer relationships in a competitive global marketplace. This foundational course equips students with essential marketing knowledge and analytical skills applicable across various industries.
Recommended Textbook
Marketing 13th Edition by Roger Kerin
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Page 2
Chapter 1: Creating Customer Relationships and Value
Through Marketing
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Sample Questions
Q1) Mark Zuckerberg is a co-founder of the social networking website called A)Pinterest.
B)Groupon.
C)LinkedIn.
D)Facebook.
E)Twitter.
Answer: D
Q2) A live theater performance cannot be touched like a physical object, but is still considered a product. To a marketer, this is an example of A)a utility.
B)a production.
C)a value.
D)a service.
E)an idea.
Answer: D
Q3) Define the marketing concept.
Answer: The marketing concept is the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
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Chapter 2: Developing Successful Organizational and Marketing Strategies
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Sample Questions
Q1) Cree markets LED (light-emitting diode) bulbs that replace the traditional incandescent bulb. The Cree LED 60w bulb consumes 85 percent less energy and lasts for 25,000 hours. Cree is an example of
A)a cooperative.
B)an industry.
C)a nonprofit organization.
D)a business firm.
E)a government agency.
Answer: D
Q2) Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the A)CEO.
B)CMO.
C)CPM.
D)CPO.
E)COO.
Answer: B
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Page 4
Chapter 3: Scanning the Marketing Environment
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Sample Questions
Q1) Generation Y is sometimes referred to as
A)echo-boomers.
B)baby boomers.
C)baby busters.
D)the downtrodden generation.
E)Generation 25.
Answer: A
Q2) Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?
A)Robinson-Patman Act
B)Clayton Act
C)Digital Millennium Copyright Act
D)FTC Act
E)Consumer Product Safety Act
Answer: E
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Page 5
Chapter 4: Ethical and Social Responsibility for Sustainable Marketing
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Sample Questions
Q1) Investors should understand that when purchasing stock, the principle of __________ is in effect. It is in the best interests of investors to do research on the company, so they will make a wise purchase.
A)modus operandi
B)e pluribus unum
C)de facto marketing
D) est la vie
E)caveat emptor
Q2) American Express Co. pioneered cause marketing when it sponsored the renovation of
A)Carnegie Hall.
B)Madison Square Garden.
C)Liberty Hall.
D)the Statue of Liberty.
E)Radio City Music Hall.
Q3) Provide concrete examples for the four classifications marketing decisions according to ethical and legal relationships.
Q4) Define the moral philosophy of utilitarianism and explain its relationship to capitalism.
Page 6
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Chapter 5: Understanding Consumer Behavior
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Sample Questions
Q1) Three teenage girls spent an hour at a store trying on various outfits, looking at possible combinations, and asking each other, "How do you think this looks on me?" This situation is most closely related to which of the following situational influences?
A)purchase task
B)social surroundings
C)physical surroundings
D)temporal effects
E)antecedent states
Q2) You need to buy a gift for a young cousin's birthday. At the mall you see a girl wearing a Hello Kitty T-shirt. You remember there is a store nearby with a lot of Hello Kitty merchandise so you go there and buy a little backpack. When you give it to your cousin, she is very excited. In terms of behavioral learning, your purchase at the Hello Kitty store was a
A)drive.
B)response.
C)reinforcement.
D)cue.
E)prompt.
Q3) Explain how attitudes are shaped by our values and beliefs.
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Page 7
Chapter 6: Understanding Organizations As Customers
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Sample Questions
Q1) At which stage of the organizational buying decision process would purchasing and engineering personnel visit potential suppliers to assess their production capacity?
A)problem recognition
B)information search
C)purchase decision
D)alternative evaluation
E)post-purchase behavior
Q2) Which of the following types of firms are in the industrial market?
A)retailing
B)construction
C)wholesaling
D)state governments
E)federal regulatory agencies
Q3) Describe the three types of organizational markets and give examples of each.
Q4) Explain the differences between independent e-marketplaces and private exchanges.
Q5) What is the North American Industry Classification System (NAICS)?
Q6) Differentiate between traditional and reverse auctions.
Q7) List seven organizational buying criteria.
Page 8
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Chapter 7: Understanding and Reaching Global
Consumers and Markets
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Sample Questions
Q1) The estimated cost of economic espionage to firms in the United States is estimated to be
A)$10 billion per year.
B)$250 billion per year.
C)$750 billion per year.
D)$900 billion per year.
E)exceeding $1 trillion per year.
Q2) A firm that views the world as consisting of unique parts and markets to each part differently is referred to as
A)a meganational firm.
B)an extranational firm.
C)an international firm.
D)a multinational firm.
E)a transnational firm.
Q3) If your primary motive was to raise prices on imports, would you use tariffs or quotas? Why would you want to do this?
Q4) Three types of companies populate and compete in the global marketplace. Identify and describe each type.
Q5) Explain the concept of countertrade, and discuss its importance.
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Chapter 8: Marketing Research: From Customer Insights to Actions
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Sample Questions
Q1) Two key elements in deciding how to collect marketing data are
A)concepts and notions.
B)concepts and methods.
C)constraints and hypotheses.
D)terms and constraints.
E)terms and hypotheses.
Q2) The Minnesota Twins, a professional baseball team, wanted to develop creative ways to boost sagging attendance at ball games. The Twins hired a moderator who, after every home game during the month of July, led informal discussions with groups of 6 to 10 fans to find out what they did and did not like about the baseball team and their experience at the stadium. Discussions were videotaped for later review. These informal research sessions are called
A)experiments.
B)secondary data.
C)focus groups.
D)panels.
E)depth interviews.
Q3) Briefly explain what a marketing experiment is. Include the definitions of dependent and independent variables and give examples of each.
Page 10
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Chapter 9: Market Segmentation Targeting and Positioning
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Sample Questions
Q1) Personality and lifestyle are both variables used to employ __________ segmentation.
A)geographic
B)behavioral
C)attitudinal
D)psychographic
E)demographic
Q2) Which of the following statements regarding segmentation bases is most accurate?
A)The identification of demographic variables is more objective than the identification of psychographic variables, which is more subjective.
B)Marketers should use segmentation bases in this order to reduce potential costs: behavioral, demographic, psychographic, and geographic.
C)The identification of psychographic variables is more objective than the identification of demographic variables, which is more subjective.
D)Behavioral segmentation is based primarily on personality.
E)Psychographic segmentation is based primarily on product features.
Q3) What is product differentiation? How does it relate to market segmentation? How does it potentially improve a firm's revenues?
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Chapter 10: Developing New Products and Services
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Q1) Screening and evaluation refers to the stage of the new-product development process
A)at which prospective customers are exposed to new-product prototypes for the first time.
B)at which new-product concepts that have been found viable are converted into actual prototypes.
C)that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort.
D)that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
E)where consumers evaluate a new product's performance in an actual-use situation.
Q2) The emphasis of a marketing strategy for a continuous innovation concentrates on
A)obtaining narrow distribution.
B)setting a low price.
C)generating awareness.
D)using reminder advertising to reeducate consumers.
E)using personal selling.
Q3) Describe the different ways to define a product as new.
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Chapter 11: Managing Successful Products Services and Brands
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Sample Questions
Q1) For consumers, the primary benefit of branding is that
A)products tend to be higher in quality.
B)it helps consumers become more efficient shoppers.
C)branded items are more readily available in retail outlets.
D)branded items are usually more expensive because of the cost to register them with the Federal Trade Commission (FTC).
E)they are often rewarded with buyer loyalty incentives.
Q2) Several factors explain why a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a value barrier, which occurs when
A)there are physical, economic, or social risks.
B)there are cultural differences.
C)the financial commitment is too great.
D)there is no incentive to change.
E)the product is not consistent with existing habits.
Q3) Explain the following statement: "Packaging provides communication, functional, and perceptual benefits for manufacturers, retailers, and consumers."
Q4) What is multiproduct branding? What are its advantages? Disadvantages?
Q5) Compare the three ways to manage a product through its product life cycle.
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Chapter 12: Services Marketing
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Sample
Questions
Q1) One tool available when trying to even out the variations in demand for services is A)off-peak pricing.
B)product lay-away.
C)credit incentives.
D)container sales.
E)product rationing.
Q2) Airlines feature load factor as a capacity management measure on their marketing dashboards, along with two other measures: the operating expense per available seat flown one mile and the revenue generated by each seat flown one mile, called A)profit per passenger.
B)average price per passenger.
C)internal ROI.
D)unit variable sales.
E)yield.
Q3) What is internal marketing? Why is it important in services marketing?
Q4) What does it mean when we say services are intangible. How do marketers of services overcome the problems associated with intangibility?
Q5) List and explain the key elements of future services.
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Chapter 13: Building the Price Foundation
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Sample Questions
Q1) If you wanted to buy a McDonald's Big Mac, medium fries, and a medium drink separately, it will cost you $8.27. However, if you purchased these three items together as part of the firm's Extra Value Meal package, you would pay only $5.69, saving $2.58. This Extra Value Meal price serves as __________ to you and other consumers, who compare the costs and benefits of substitute items to a bundle containing those items.
A)a marginal analysis
B)a profit equation
C)a reference value
D)a break-even analysis
E)price elasticity of demand
Q2) All of the following statements are true about an oligopolistic competitive market situation except
A)the products can be differentiated or undifferentiated.
B)advertising that uses comparative (head-to-head) messages is the norm.
C)the purpose of advertising is to inform.
D)sellers try to avoid price competition, which can lead to price wars.
E)firms in these markets stay aware of a competitor's price cuts or increases and may follow suit.
Q3) Distinguish between elastic demand and inelastic demand.
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Page 15
Chapter 14: Arriving at the Final Price
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Sample Questions
Q1) Setting prices a few dollars or cents under an even number is referred to as A)odd-even pricing.
B)prestige pricing.
C)price lining.
D)above-, at-, or below-market pricing.
E)every day fair pricing.
Q2) The practice of charging a very low price for a product with the intent of driving competitors out of business is referred to as A)price fixing.
B)predatory pricing.
C)price discrimination.
D)deceptive pricing.
E)geographical pricing.
Q3) A skimming pricing policy is likely to be most effective when A)consumers tend to be price-sensitive.
B)it will be easier to set measurable sales unit goals.
C)a lower price will significantly lower fixed costs.
D)consumers perceive your product to be similar to other products on the market.
E)customers are willing to buy immediately at the high initial price.
Q4) What is loss-leader pricing and why do retailers use it?
Page 16
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Chapter 15: Managing Marketing Channels and Supply Chains
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Sample Questions
Q1) Expenses associated with transportation, materials handling and warehousing, inventory, stockouts (being out of inventory), order processing, and return products handling are referred to as
A)supplier service cost.
B)manufacturing cost.
C)total logistics cost.
D)social responsibility cost.
E)total supply chain cost.
Q2) Manufacturers most likely would use exclusive distribution for which of the following products?
A)Timex watches, Hanes underwear, and Nike shoes
B)Chanel perfume, Steinway pianos, and Baccarat crystal
C)Oreos, Teddy Grahams, and Nilla Wafers
D)paper clips, light bulbs, and file folders
E)Lean Cuisine meals, Breyer's Ice Cream, and Coca-Cola
Q3) In some countries, the packaging of the well-known Cheerios brand of cereal carries the Nestlé name rather than the familiar General Mills brand name. Explain the channel that is being used and the importance of Cereal Partners Worldwide (CPW).
Q4) What are some specific cost trade-offs that can be made in a logistics system?
Page 17
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Chapter 16: Retailing and Wholesaling
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Sample Questions
Q1) A franchise where the franchiser provides a few general guidelines to the franchisee is known as a
A)business-format franchise.
B)manufacturing franchise.
C)product-distribution franchise.
D)general service franchise.
E)business franchise venture.
Q2) Which of the following statements regarding QVC is most accurate?
A)QVC broadcasts 12 hours a day 365 days a year.
B)QVC reaches more than 198 million homes in the United States, United Kingdom, Germany, Italy, and Japan.
C)QVC never offers the same product two days in a row.
D)QVC sells all its items by dropping the price to $1.00, regardless of the product value, if it is not sold in one day.
E)QVC entices customers to "stay tuned" by offering free products to random callers.
Q3) Briefly describe the three ways retail outlets can be classified.
Q4) What is the value of retailing for consumers and the economy?
Q5) Identify and describe the functions of agents and brokers.
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Chapter 17: Integrated Marketing Communications and Direct Marketing
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Sample Questions
Q1) Errors in communication can occur in several ways: (1) The source may not adequately transform the abstract idea into an effective set of symbols; (2) __________; (3) the receiver may not properly transform the set of symbols into the correct abstract idea; or (4) feedback may be so delayed or distorted that it is of no use to the sender.
A)a properly encoded message may be sent through the wrong channel and never make it to the receiver
B)in an attempt to be creative, the encoder creates a message with too much noise
C)the communications channel is not properly funded
D)the message is considered too ordinary because there is too broad a field of experience
E)there is no interest on the part of the receiver because the product itself is inadequate
Q2) The promotional objective of the decline stage of the product life cycle is to A)inform.
B)persuade.
C)compare.
D)remind.
E)phase out.
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Page 19
Chapter 18: Advertising Sales Promotion and Public Relations
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Sample Questions
Q1) Which of the following statements about comparative advertising is true?
A)Comparative advertisements now constitute over 90 percent of all television ads.
B)Comparative advertisements attract less consumer attention for the advertiser's brand.
C)Comparative advertisements need market research to provide legal support for their claims.
D)Comparative advertisements have been banned by the Federal Trade Commission.
E)Comparative advertisements can, and often do, cause more harm than good.
Q2) In terms of scheduling advertising, purchase frequency refers to
A)the number of times a buyer tries a product before becoming a brand-loyal customer of the firm's product.
B)the number of times a buyer purchases a product during its life cycle.
C)how often a consumer will try competitive brands before becoming a brand-loyal customer of the firm's product.
D)how frequently a product is purchased over a particular time period.
E)the idea that the more frequently the product is purchased, the less advertising repetition is required.
Q3) Describe the three forms of product advertisements. What are their objectives?
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Chapter 19: Using Social Media and Mobile Marketing to
Connect With Consumers
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Sample Questions
Q1) Twitter can be a good source of information about a brand or product because of its A)short message length.
B)photo-sharing capability.
C)ability to display user-generated video content.
D)ownership of CoTweet.
E)ability to post professional profiles.
Q2) User-generated content (UGC) refers to
A)content found on a "personal profile" page.
B)content found only on blogs and wikis.
C)content that is created with the intention of achieving commercial profit.
D)content found on forms of online media that are privately owned and operated by a single "user."
E)the various forms of online media content that are publicly available and created by end users.
Q3) What are the main ways brand managers can use Twitter?
Q4) What are the four guidelines to engage fans on Facebook?
Q5) What is the role of a brand manager in advertising on social media like Facebook?
Page 21
Q6) Describe the communications process of both traditional media and social media.
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Chapter 20: Personal Selling and Sales Management
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Sample Questions
Q1) The tasks involved in managing personal selling include all of the following except A)selecting salespeople.
B)evaluating the performance of individual salespeople.
C)setting sales objectives.
D)organizing the salesforce.
E)designing new direct sales promotions to generate new sales.
Q2) Two selling styles associated with the need-satisfaction presentation format are
A)adaptive selling and confrontational selling.
B)adaptive selling and consultative selling.
C)suggestive selling and canned selling.
D)adaptive selling and suggestive selling.
E)suggestive selling and consultative selling.
Q3) Personal selling begins with the __________ stage.
A)lead
B)presentation
C)preapproach
D)prospecting
E)follow-up
Q4) Explain the difference between a lead, a prospect, and a qualified prospect.
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Chapter 21: Implementing Interactive and Multichannel Marketing
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Q1) Reebok, Schwab, Dell, and Seven Cycles are all examples of companies that have been very successful because of their ability to __________ their products and services for their online customers and also personalize the marketing and overall shopping and buying interaction for them.
A)dispense
B)recommend C)finance
D)distribute
E)customize
Q2) Seven Cycles' tagline, "One Bike. Yours." reflects the company's
A)reputation for customized detailing of the finest motorcycles in competitive racing. B)commitment to incorporating individual customer input for every single bike.
C)unique antitheft electronic GPS tracer built into every frame.
D)creativity promise, guaranteeing that the color (paint job) is completely unique for each touring bike it makes.
E)"one product-one market" segmentation strategy, in which all bikes are exactly alike.
Q3) What is the marketspace?
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Page 23
Chapter 22: Pulling It All Together: the Strategic Marketing Process
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Q1) General Electric's Jack Welch became a legend in making GE more efficient and far better at implementation. One strategy he used to do this was
A)creating new mediation teams between planners and implementers.
B)developing task-specific innovation teams.
C)hiring outside consulting firms.
D)de-layering the organization.
E)conducting regular debriefing meetings to keep everyone aware of what was going on.
Q2) Developing a program schedule involves: (1) identifying the main tasks, (2) determining the time required to complete each task, (3) arranging the activities to meet the deadline, and (4) __________.
A)selecting a product champion
B)assigning people the responsibilities to complete each task
C)defining specific market segments
D)creating marketing metrics to evaluate the results
E)scheduling a follow-up meeting to evaluate the results
Q3) Explain what synergy analysis is and describe the five marketing strategies that result.
Q4) Explain the steps in the evaluation phase of the strategic marketing process.
Page 24
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Chapter 23: Financial Aspects of Marketing
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Q1) Which of the following is a sales element of an operating statement?
A)cost of goods sold
B)inventory
C)direct labor
D)returns
E)selling expenses
Q2) The __________ is the ratio of net income to the investment used to earn that net income.
A)markup
B)selling margin
C)return on investment
D)return on assets
E)markdown
Q3) Gross sales minus returns and allowances for a firm are called its A)inventory shrinkage.
B)discounted return on investment.
C)gross sales.
D)net sales.
E)gross margin.
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Chapter 24: Building an Effective Marketing Plan
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Q1) The format for a marketing plan for an organization depends on the following: (1) the target audience and purpose, (2) the kind and complexity of the organization, and (3)
A)the financial investment needed
B)the time frame
C)the available resources
D)the industry
E)the competition
Q2) To help buyers see the many different uses for Howlin' Coyote Chili, the company has
A)sponsored a recipe contest with the first prize being a trip for two to Mexico.
B)used bundle pricing with a chili bowl and a selection of products.
C)sponsored a series of short but informative commercials on the Cooking Channel.
D)published small, full-color, illustrated pamphlets as buyer incentives to its wholesalers.
E)printed recipes on the inside of its packaging.
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