Business Marketing
Exam Materials
Course Introduction
Business Marketing focuses on the strategies and processes involved in promoting and selling products or services to other businesses rather than individual consumers. This course explores key concepts such as market segmentation, targeting, positioning, buyer behavior in organizational markets, and the development of value propositions tailored to business clients. Students will examine the complexities of relationship building, negotiation, and the extended decision-making process characteristic of business-to-business (B2B) markets. The course also covers the role of digital platforms, global market trends, and ethical considerations, equipping students with the analytical and practical skills necessary to design effective marketing strategies in a competitive business environment.
Recommended Textbook
Marketing Real People Real Choices 3rd Edition by Michael Solomon
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1765 Verified Questions
1765 Flashcards
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Chapter 1: Welcome to the World of Marketing: Creating and Delivering Value
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) All of the following are forms of utility EXCEPT ________.
A)time utility
B)price utility
C)form utility
D)place utility
E)possession utility
Answer: B
Q2) The terms market and marketplace are used as synonyms.
A)True
B)False
Answer: False
Q3) A businessperson who only produces a product when it is ordered is referred to as a/n ________.
A)turn-key operator
B)intrapreneur
C)total quality manager
D)interpreneur
E)All of the above
Answer: B
Page 3
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Chapter 2: Strategic Market Planning: Taking the Big Picture
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Sample Questions
Q1) Continental Soup runs a series of commercials encouraging consumers who eat soup regularly to purchase their soup rather than competitor Campbell's soups.
A)product development
B)market penetration
C)market development
D)diversification
E)product penetration
Answer: B
Q2) Conduct a SWOT analysis for fast food company Pizza Hut.
Answer: Strengths and weaknesses are internal to the company.Strengths for a company might be high brand recognition,operational efficiencies and high traffic locations.Weaknesses are internal and might,for example,be issues such as staff turnover or financial issues.Opportunities and threats are external and might include higher per capital incomes so more to spend or potential changes to government regulations concerning fast food.
Q3) SWOT stands for strengths,willingness,opportunities,and threats.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Thriving in the Marketing Environment: The
World Is Flat
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158 Flashcards
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Sample Questions
Q1) Discuss the different market entry strategies a company might choose when entering particular host markets.What criteria would the company use in making its decision?
Answer: The company can choose from a range of options: exporting,contractual agreements (licensing,franchising),strategic alliances (joint ventures)and direct investment.The precise market entry strategy selected will depend on the level of commitment the company wants to make to the particular host market,from the lowest level of commitment (exporting)to the highest level of commitment (direct investment).The company must also be aware of the trade-off between control and risk.The higher the level of control (e.g.direct investment),the greater the level of risk the company will assume.The lower the level of control (e.g.exporting),the lower the level of risk the company will assume.
Q2) Subway,the sandwich chain,operates in 87 countries.
A)straight extension strategy
B)localisation strategy
C)product adaptation strategy
D)product invention strategy
E)new product launch strategy
Answer: C
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Chapter 4: Marketing Research: Gathering,analysing and Using Information
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165 Flashcards
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Sample Questions
Q1) ________ is the process of selecting respondents for a survey.
A)Prospecting
B)Sampling
C)Sample linking
D)Surveying
E)Qualifying
Q2) Many researchers use ________ to get at people's underlying feelings,especially when they think people will be unwilling to express their true reactions.
A)concept testing
B)ethnographic methods
C)biofeedback techniques
D)projective techniques
E)hypothetical testing
Q3) The better a firm is at conducting market research,the more successful it will be.Discuss.
Q4) What is a weakness in descriptive research techniques and how can it be addressed using causal research?
Q5) Discuss the differences between case study and ethnography forms of research.How could marketers use ethnographies?
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Chapter 5: Consumer Behaviour: How and Why We Buy
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Sample Questions
Q1) When Donna was invited to go skiing,she realised she needed a much warmer coat than her current coat.
A)Product evaluation
B)Situational analysis
C)Problem recognition
D)Problem screening
E)Information search
Q2) C2C e-commerce occurs amongst individuals without directly involving manufacturers or retailers.
A)True
B)False
Q3) A consumer is defined as the ultimate purchaser of goods and services.
A)True
B)False
Q4) Cultures have their own rituals with associated products and activities.
A)True
B)False
Q5) How does the concept of subculture apply to the different types of music?
Q6) Discuss how a marketer could respond to increasing levels of time poverty.
Q7) Discuss how marketers can make use of virtual communities.
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Chapter 6: Business-To-Business Markets: How and Why
Organisations Buy
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60 Flashcards
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Sample Questions
Q1) Explain how business-to-business demand differs from consumer demand.Illustrate using examples.
Q2) With ________,it usually does not matter if the price of a business-to-business product goes up or down- the business customer will still buy the same quantity.
A)elastic demand
B)economic demand
C)inelastic demand
D)derived demand
E)fixed demand
Q3) What functions does a reseller of consumer goods fulfil? Illustrate using a specific reseller.
Q4) A supplier's ability to make on-time deliveries is the critical factor in the selection process for firms that have adopted an inventory management system called
A)a just-in-time (JIT)system
B)direct distribution
C)electronic data exchange (EDE)
D)quick warehousing
E)computer-assisted manufacturing (CAM)
8
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Chapter 7: Sharpening the Focus: Target Marketing
Strategies and Customer Relationship Management
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Sample Questions
Q1) The first step in developing a positioning strategy is to ________.
A)create a product with a competitive advantage
B)create target markets
C)analyse the competitors' position in the marketplace
D)set the marketing communications budget
E)identify segmentation variables
Q2) Bob loves ferrets,the furry animals,so much that he decides to start an online business offering only ferret accessories (leashes,clothing,etc.
A)custom marketing strategy
B)concentrated marketing strategy
C)differentiated targeting strategy
D)undifferentiated targeting strategy
E)customer relationship marketing
Q3) The most important aspect of customer relationship management (CRM)is that it
A)requires organisations to view their customers as adversaries
B)requires organisations to look at customers as partners
C)can be implemented using any form of mass communication channel
D)creates clear win-lose situations
E)allows marketers to create consumer wants and needs
Page 9
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Chapter 8: Creating and Managing Products
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Sample Questions
Q1) Product adoption is the process by which a consumer or business customer begins to buy and use a new good,service,or an idea.
A)True
B)False
Q2) Kitchen dishcloths are often difficult to rinse clean and typically dry slowly.3M has developed a disposable ScotchBrite Microfiber Kitchen Cloth that rinses easily and dries quickly.Because this is a brand new product to the market,it can be said to be in the ________ stage of its product life cycle.
A)extension
B)maturity
C)growth
D)expansion
E)introduction
Q3) Explain the three layers of a product and illustrate using an example from your own experience.
Q4) Discuss how a marketer could affect the rate of adoption.
Q5) What is ingredient branding? Why would manufacturers want to engage in ingredient branding?
Q6) Packaging is designed solely to protect the product.Discuss
Page 10
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Chapter 9: Services and Other Intangibles: Marketing a
Product That Isnt There
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116 Flashcards
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Sample Questions
Q1) Capacity management is one of the ways to meet potential problems related to the ________ characteristic of services.
A)responsiveness
B)perishability
C)intangibility
D)inseparability
E)variability
Q2) A traveller visiting Sydney for the first time looks in the window of a restaurant near their hotel.The interior is spotless and the colours match the sign painted on the window.When the traveller walks in they are greeted with the aroma of tasty food and notice the staff are all dressed in matching clean white uniforms.Explain how the traveller evaluated the restaurant before deciding to eat there.
Q3) With the ________ an agent would try to identify unmet needs and then find a person or group who meets these needs.
A)product improvement approach
B)market fulfillment approach
C)pure selling approach
D)B and C
E)None of the above
11
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Chapter 10: Pricing the Product
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Sample Questions
Q1) One retailer sells all items for 99 cents and another retailer sells all items for $1.00.These are both examples of ________.
A)gap analysis
B)capacity management
C)disintermediation
D)perishability
E)odd-even pricing
Q2) Break-even analysis ________.
A)is used to determine the number of units a company must sell to cover all of its costs
B)determines the amount of retained earnings a company will have during an accounting period
C)is a technique marketers use to examine the relationship between supply and demand
D)is used to determine how many more units need to be sold to increase market share by a specific amount
E)is a technique used to calculate contribution margin
Q3) Discuss the advantages and disadvantages of three different pricing strategies that marketers could adopt.
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Chapter 11: One-To-Many: Advertising,consumer Sales
Promotion and Public Relations
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144 Flashcards
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Sample Questions
Q1) The ________ is a promotion budgeting method in which an organisation matches whatever competitors are spending.
A)competitive-parity method
B)percentage-of-sales method
C)bottom-up budgeting technique
D)top-down budgeting technique
E)objective-task method
Q2) Which of the following is a public relations objective?
A)Call attention to a firm's involvement with the community
B)Manage a crisis
C)Introduction of new products
D)Influence government legislation
E)All of the above
Q3) The communication model explains how ideas are translated into messages and transmitted from the marketer to the consumer who understands what the marketer intended to say.
A)True
B)False
Q4) Explain the hierarchy of effects.
Q5) Compare the pros and cons of television and radio as media vehicles.
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Sample Questions
Q1) Why is do you think the image of telemarketers might be more positive in business marketing than it is in consumer marketing?
Q2) ________ take on one of two forms: discounts and increasing industry visibility.
A)Incentive programs
B)Trade sales promotions
C)Trade shows
D)Special/bonus packs
E)Cooperative promotions
Q3) A major manufacturer of automobile tires sells their products at their own retail stores.When a tire is sold,the customer can return to any manufacturers' retail store and the tire can be rotated on the car at no expense to the customer.Should a repair to the tire be needed,the customer will receive a discount from the list price.What selling approach is this manufacturer implementing?
Q4) Pfizer pharmaceutical representatives call on physicians to convince them to prescribe the latest Pfizer medication over competing products.However,no sale is made until doctors call prescriptions into pharmacies that then place orders through their drug wholesalers.What type of sales position do Pfizer pharmaceutical representative hold?
Q5) Explain what occurs in the first two steps of the creative selling process.
Page 14
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Chapter 13: Many-To-Many: Online Marketing
Communication and New Media
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Sample Questions
Q1) Why did Pepsi decide to forgo television advertising during the Super Bowl in 2010 for the first time in 23 years?
Q2) Loyal customers recruited to communicate and be salespeople for the brand are called ________.
A)buzz marketers
B)brand advocates
C)astute consumers
D)brand buzzers
E)viral advocates
Q3) Which of the following are types of social media?
A)Wikis
B)Picture sharing sites
C)Blogs
D)Podcasts
E)All of the above
Q4) Discuss three positive word-of-mouth strategies.
Q5) A company has just developed a new virtual reality game and headset and wants your recommendation as to whether to use new media.
Q6) Discuss three unethical or at least questionable buzz marketing practices.
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Chapter 14: Delivering Value Through Supply Chains and Logistics
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Sample Questions
Q1) Which of the following is/are limitations of e-commerce?
A)Potential for internet fraud
B)The time consumers have to wait to receive purchases
C)Potential for security concerns
D)Inability to 'touch and feel' prior to purchase
E)All of the above
Q2) Selective distribution strategies are most often used with which consumer product category?
A)Shopping goods
B)Convenience goods
C)Unsought goods
D)Supplies
E)Specialty goods
Q3) ________ transforms the materials into final product form,such as by machining,packaging,and assembly.
A)Inbound raw materials
B)Production
C)Outbound finished products
D)Marketing
E)Customer service
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