Advanced Marketing Final Exam
Course Introduction
Advanced Marketing delves into strategic marketing concepts, focusing on the analysis, planning, and implementation of sophisticated marketing strategies in dynamic business environments. The course examines topics such as market segmentation, targeting, positioning, branding, and integrated marketing communications, emphasizing data-driven decision-making and the use of modern digital tools. Students will analyze real-world case studies, explore global marketing challenges, and develop practical solutions to complex marketing problems, preparing them for high-level roles in marketing management and consultancy.
Recommended Textbook
Business Marketing Management B2B 11th Edition by
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15 Chapters
1161 Verified Questions
1161 Flashcards
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Page 2
Michael D. Hutt
Chapter 1: A Business Marketing Perspective
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) When purchasing a high speed packaging machine,General Foods would be classified as:
A)an original equipment manufacturer.
B)a user.
C)a distributor.
D)a dealer.
E)an institutional buyer.
Answer: B
Q2) Dayco increased the price of the drive belts that it sells to General Motors by 5 percent and sales of the item grew by 9 percent. Price elasticity of demand for drive belts appears to be:
A)elastic.
B)inelastic.
C)neither elastic nor inelastic.
D)sensitive to price changes.
E)none of the above.
Answer: B
Q3) Those that have the power in the business buying process are referred to as: Answer: Key buying influentials
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Page 3
Chapter 2: Organizational Buying Behavior
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Sample Questions
Q1) When organizational buyers modify a salesperson's message to make it more consistent with their predispositions toward the company,this provides an illustration of:
A)selective exposure.
B)selective attention.
C)selective perception.
D)selective retention.
E)selective memory.
Answer: C
Q2) Which of the following statements about buying centers is true?
A)The composition can change from one buying situation to another.
B)Different individuals are important to the process at different times.
C)Buying centers vary from firm to firm.
D)All of the above are true.
E)Only (a)and (c)are true.
Answer: D
Q3) Key influencers are frequently located outside of the____________________department.
Answer: Purchasing
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4
Chapter 3: Customer Relationship Management Strategies for Business Markets
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71 Flashcards
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Sample Questions
Q1) From the customer's perspective,relationship quality centers on:
A)the sensitivity of the salesperson in understanding how business conditions affect the industry within which the buying firm operates.
B)the ability of the salesperson to understand the selection criteria of each member of the buying center.
C)trust in the salesperson.
D)satisfaction with the salesperson.
E)both (c)and (d)
Answer: E
Q2) Buying firms prefer a more collaborative relationship when:
A)the purchase is deemed strategically important to the buying organization.
B)the market is dynamic.
C)there are few alternatives.
D)all of the above
E)(a)and (c)only
Answer: D
Q3) In a collaborative exchange,the supply market dynamism would best be described as:
Answer: Volatile
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Chapter 4: Segmenting the Business Market and Estimating
Segment Demand
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104 Flashcards
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Sample Questions
Q1) Compared to centralized buyers,decentralized purchasing units emphasize short-term cost efficiency.
A)True
B)False
Q2) The primary advantage of the Executive Judgement method is that systematically analyzes cause-and-effect relationships.
A)True
B)False
Q3) Concerning segmentation criteria,_____ refers to the degree to which the segments are large or profitable enough to be worth considering for separate marketing cultivation.
A)measurability
B)accessibility
C)substantiality
D)compatibility
E)responsiveness
Q4) Provide an illustration of a situation where value-in-use segmentation would seem to be especially appropriate.
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Chapter 5: Business Marketing Planning: Strategic Perspectives
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Sample Questions
Q1) Common challenges for marketers using the marketing strategy center to manage across business functions include which of the following?
A)The fostering of a shared appreciation of other functional units.
B)Minimization of interdepartmental conflict.
C)Elimination of interdependencies between functional units.
D)All of the above.
E)Only a and b.
Q2) The composition or functional area representation of the strategy center evolves during the marketing strategy development process,varies from firm to firm,and varies from one strategy situation to another.
A)True
B)False
Q3) A central challenge for the business marketer during the strategy formulation process is to minimize interdepartmental conflict while fostering shared appreciations of the interdependencies with other functional units. Explain.
Q4) The____________________determines how the firm chooses to compete.
Q5) The ____________________clarifies the condistions that will create value for the customer.
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Chapter 6: Business Marketing Strategies for Global Markets
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Sample Questions
Q1) Factors that favor keeping products or services at home instead of relocating to rapidly developing economies include:
A)Protection of intellectual property is critical.
B)High sensitivity to production location.
C)Very high technology content.
D)All of the above.
E)(a)and (c)only.
Q2) A firm that includes rapidly developing economies (RDEs)in their global cost structures can realize savings of _____ in the landed costs of their products.
A)0 to 20 percent
B)20 to 40 percent
C)40 to 60 percent
D)60 to 80 percent
Q3) _____ refers to how similar activities performed in various countries are couple with each other.
A)Coordination
B)Configuration
C)The home base
D)The value network
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Chapter 7: Managing Products for Business Markets
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Sample Questions
Q1) The percentage of organizational buyers who have a positive image of a company minus the buyer with a negative opinion is called:
A)brand attitude.
B)brand equity.
C)a strong brand
D)none of the above.
Q2) Among technology adopters,these customers are ever-present critics of the hype surrounding high-technology products.
A)technology enthusiasts.
B)visionaries.
C)pragmatists.
D)conservatives.
E)skeptics.
Q3) A finely-tuned market segmentation strategy is critical to success during the tornado phase of the adoption life cycle.
A)True
B)False
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Page 9
Chapter 8: Managing Innovation and New Industrial
Product Development
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Sample Questions
Q1) Commercial development projects that create the design and components that are shared by a set of products are referred to as:
A)platform projects.
B)breakthrough projects.
C)research and development projects.
D)derivative projects.
E)none of the above
Q2) The type of development project that centers on incremental product enhancements (for example,new feature),incremental process improvements (for example,a lower-cost manufacturing process),or incremental changes in both dimensions is referred to as a:
A)platform project.
B)breakthrough project.
C)research and development project.
D)derivative project.
E)none of the above
Q3) An organization member who creates,defines,or adopts an idea for an innovation and is willing to assume significant risk to successfully implement the innovation is known as a____________________.
Page 10
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Chapter 9: Managing Services for Business Markets
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Sample Questions
Q1) Which of the following statements regarding the perishability of services is incorrect?
A)Capacity is a substitute for inventory.
B)The demand for services is often predictable and consistent.
C)If capacity is set for peak demand, a service inventory must exist to supply the highest level of demand.
D)all of the above.
E)(a)and (c)only.
Q2) Concerning the nonstandardized nature of most industrial services,which of the following statements is incorrect?
A)The more labor-intensive the service,the less uniform will be the output.
B)As the extent to which equipment is utilized to produce the service increases,variability will increase.
C)As automation of the service decreases,uniformity of the output will also decrease.
D)It is important to develop systems to minimize human error.
E)It is often difficult for the user to judge service quality before the service is provided.
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Chapter 10: Managing Business Marketing Channels
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Sample Questions
Q1) Describe the major factors that limit the choice of industrial channels for business marketers.
Q2) When a manufacturer sells through hundreds of distributors across the U.S.,reps may sell and service the distributors.
A)True
B)False
Q3) In the classification of distributors,_____ focus on one line or on a few related lines.
A)general-line distributors
B)specialists
C)combination houses
D)brokers
Q4) For products that are bought frequently,repetitively,and in small quantities,industrial distributors provide an efficient channel path.
A)True
B)False
Q5) The primary responsible of____________________salespersons is to take telephone orders,processing orders,and schedule delivery.
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Page 12
Chapter 11: Supply Chain Management
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Sample Questions
Q1) The warehouse circumvents the need for premium transportation (for example,air freight)and costly order processing by keeping products readily available in local markets. Which type of warehousing involves no capital investment and offers the advantage of flexibility--the firm can increase or decrease its use of space in a given market?
A)merchant
B)mobile
C)fixed
D)third party
E)private
Q2) A firm that is able to lower costs by minimizing duplication,harmonizing operations,and enhancing quality is addressing which of the following supply chain management goals?
A)Waste reduction.
B)Time compression.
C)Flexible response.
D)Inventory reduction.
E)Transportation cost reduction.
Q3) What are the most commonly reported financial benefits that accrue to firms that excel in supply chain management?
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Chapter 12: Pricing Strategy for Business Markets
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Sample Questions
Q1) Low switching costs allow a buyer to focus on minimizing the cost of a particular transaction.
A)True
B)False
Q2) Successful pricing strategies are:
A)value based.
B)proactive.
C)profit-driven.
D)all of the above.
E)only a and c.
Q3) _____ are those attributes that are not typically required but that can ultimately lead to a supplier being selected by a customer over other qualified suppliers.
A)Core benefits
B)Add-on benefits
C)Supplier personality traits
D)Customer values
E)Elasticities of demand
Q4) The first component in the Price-Setting Decision Process is____________________.
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Chapter 13: Business Marketing Communications:
Advertising and Sales Promotion
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73 Flashcards
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Sample Questions
Q1) The formula for calculating adverting cost is:
A)Cost per thousand = Cost per page / Circulation in thousands.
B)Cost per thousand = Circulation in thousands / Cost per page.
C)Cost per page = Cost per thousands / Circulation in thousands.
D)Cost per page = Circulation in thousands / Cost per thousands
Q2) In formulating advertising messages,the business marketer should:
A)emphasize product and technical specifications.
B)identify general buying criteria of importance to a range of buying center members.
C)use color and illustrations sparingly.
D)both (a)and (b)
E)none of the above
Q3) The Internet is more than just an advertising medium for business marketers because it can also help them create value for customers by customizing messages and helping customers search for products.
A)True
B)False
Q4) Many trade publications are____________________publications,meaning that they offer free subscriptions to selected readers.
Page 15
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Chapter 14: Business Marketing Communications:
Managing the Personal Selling Function
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Sample Questions
Q1) Using the behavior-based measurement approach to salesperson performance,sales managers:
A)monitor and direct the activities of salespeople.
B)use subjective measures of salesperson behavior.
C)emphasize a compensation system with a large fixed component.
D)consider the knowledge and presentation skills of the salesperson.
E)all of the above
Q2) Organization of the sales force depends on the:
A)nature of the product.
B)the length of the product line.
C)the nature of the buying behavior in each segment.
D)All of the above.
E)Only (a)and (c).
Q3) A successful training effort will increase the cost of recruiting.
A)True
B)False
Q4) The decision whether to use key accounts depends on three factors: profit potential,learning benefits,and cost drivers associated with customers.
A)True
B)False
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Chapter 15: Marketing Performance Measurement
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Sample Questions
Q1) St. Paul Equipment Company experienced a 15 percent sales gain that,on the surface,appears favorable. However,if total industry sales are up 30 percent,an analysis of ____ could suggest that the firm has not fared well relative to competitors.
A)expense-to-sales ratios
B)profit
C)market share
D)distribution costs
E)sales by channel type
Q2) To be successful,successful business marketing managers:
A)must assume an active role in the marketing strategy center.
B)must negotiate with other functions.
C)must get advanced secondary education.
D)All of the above.
E)Only (a)and (b).
Q3) Marketing control is a process business marketers can use to generate information on marketing performance. For each of the levels of marketing control,describe the purpose of the control,identify who is primarily responsible for that control in the organization,and provide examples of tools that can be used.
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