Business Marketing Exam Preparation Guide
Course Introduction
Business Marketing examines the strategies and processes involved in marketing goods and services to other businesses, governments, and institutional customers, rather than individual consumers. The course covers topics such as organizational buying behavior, relationship marketing, B2B market segmentation, product and service development for the business market, pricing strategies, distribution channels, and the role of digital technologies in business-to-business (B2B) marketing. Through case studies, real-world examples, and interactive activities, students will develop skills in creating marketing plans tailored to business clients, understanding complex buying centers, and navigating the unique challenges and opportunities of B2B environments.
Recommended Textbook
MKTG 4th Canadian Edition by Hair
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19 Chapters
2839 Verified Questions
2839 Flashcards
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Chapter 1: An Introduction to Marketing
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Tata Motors has improved the productivity of its plant. For the new financial year, the company projects a production increase of 30 percent. It has instructed its sales force to aggressively distribute and promote its trucks. The company believes the market will absorb more products if the sales force is aggressive. What sort of orientation does Tata have?
A)market
B)production
C)sales
D)customer
Answer: C
Q2) If customer value occurs, which of the following is most likely to result?
A)A customer will continue to a relationship.
B)A customer will recommend the company.
C)A customer will have buyer's remorse.
D)A customer will purchase a product or service.
Answer: D
Q3) Only a firm's salespeople need to be customer-oriented.
A)True
B)False
Answer: False
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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) Which of the following best characterizes Generation Y?
A)Its members are people who were born between 1979 and 2000.
B)It is smaller than Generation X.
C)Its members are pressed for time and spend more on personal services than any other age group.
D)It is the first generation of latchkey kids.
Answer: A
Q2) The foundation of the pyramid of corporate social responsibility is economic performance.
A)True
B)False
Answer: True
Q3) Which of the following best defines competition?
A)developing goods and services to sell
B)purchasing goods and services to consume
C)evaluating goods and services to rival
Answer: C
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Page 4
Chapter 3: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) Coca-Cola vending machines are found all over the world. The newest machines have an interactive screen that runs advertisements and allows users to obtain ring tones and free photos of themselves after they have bought a drink. Critics of these new vending machines are concerned that entertaining technology is being used to market sugary products. In terms of a SWOT analysis, what would this concern be an example of?
A)a weakness
B)a strength
C)an opportunity
D)a threat
Answer: D
Q2) Refer to the scenario. Since this was Armani's first venture into the hotel industry, what would it be an example of?
A)diversification
B)market development
C)product customization
D)product penetration
Answer: A
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Chapter 4: Developing a Global Vision
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Sample Questions
Q1) A Canadian executive had no idea the Japanese go through a very elaborate ritual when exchanging business cards. When he arrived at a meeting in Tokyo, he sat down and tossed some of his business cards across the table at a group of stunned Japanese businesspeople. Due to the Canadian executive's rudeness, the multimillion-dollar deal failed. The executive overlooked the importance of which environmental factor?
A)culture
B)demographics
C)politics
D)subculture
Q2) How can a Canadian licensor try to prevent a licensee from voiding its contract and using what it has learned to create a competitor?
A)by using lawyers from both countries to write the licensing agreement
B)by insisting that all licensees have a published code of ethics
C)by having the licensee pay a fee for the use of the manufacturing process, trademark, patent, or other proprietary knowledge
D)by locally registering patents and trademarks to the Canadian firm-not the licensee
Q3) Describe a multinational corporation (MNC). Name two MNCs you are familiar with.
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Page 6
Chapter 5: Marketing Research
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) Delia Johnson is the buyer for a large Christian bookstore. She is interested in learning more about the needs of people who are believers in Christ but who do not participate in organized religion. Johnson has decided to survey the people at her church for information. Which type of sample is Johnson gathering?
A)field service
B)random
C)probability
D)convenience
Q2) There are five Major League Baseball markets with more than one team. So far this season, the average combined attendance for the Chicago Cubs and the Chicago White Sox ranks the lowest. Before conducting any marketing research to explain low attendance figures, what will the teams need to do?
A)Determine who will be most likely to respond to a survey.
B)Select a market sample from everyone in the population.
C)Define the problem to be researched.
D)Develop a survey to find out exactly what's wrong.
Q3) What is marketing research? Name and briefly describe the three functional roles of marketing research.
Q4) List in order the seven steps of the marketing research process.
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Chapter 6: Consumer Decision Making
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143 Verified Questions
143 Flashcards
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Sample
Questions
Q1) While lifestyle research is useful for describing individual consumers, it is not useful for segmenting consumer groups.
A)True
B)False
Q2) Which of the following is NOT an example of a marketing-controlled information system?
A)a television ad for RBC insurance
B)a contest for the Heart & Stroke Foundation
C)a $1-off coupon for Campbell's soup
D)an article in Bicycling magazine about the newest Shimano-brand shoes
Q3) Opinion leaders are often the first to try new products and services.
A)True
B)False
Q4) Refer to the scenario. Which psychological influence on consumers' purchase of whiskey are the manufacturers trying to change?
A)value
B)perception
C)reference group
D)personality
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Chapter 7: Business Marketing
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153 Verified Questions
153 Flashcards
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Sample Questions
Q1) What can managers use the NAICS data to do?
A)to create a more focused mission statement
B)to eliminate risk
C)to classify consumer behaviour
D)to identify potential new customers
Q2) Which of the following is the best description of a buying centre?
A)It will be composed of the same decision makers as long as the purchasing process lasts.
B)It is typically on the formal organizational chart under the vice-president for operations.
C)It requires all purchasing participants to be employed by the purchasing department.
D)It refers to all those organizational members who become involved in the purchasing process.
Q3) For a product to be called a business product, it must be used to manufacture other products, become part of another product, facilitate the normal operations of a firm, or be acquired for resale with no substantial change in form.
A)True
B)False
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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) Single-variable segmentation is clearly more precise than multiple-variable segmentation
A)True
B)False
Q2) What is the term for the segmenting of markets based on the region of the country or the world, market size, market density (number of people within a certain unit of land), or climate?
A)community regionalization
B)geographic segmentation
C)geodemographic segmentation
D)demonstrable regionalization
Q3) What is the family life cycle (FLC)? Using the following selected stages from the FLC, briefly describe the lifestyle and purchasing needs of consumers in that stage: (1) young single, (2) young married without children, (3) young married with children, (4) middle-aged married without children, and (5) older unmarried.
Q4) A market is people or organizations with needs or wants and with the ability and the willingness to buy.
A)True
B)False
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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) To initiate Stage 2 of the CRM cycle, what must a company do first?
A)identify customer relationships with organizations
B)choose the technology needed for the project
C)build the strategies
D)set the goals of the project
Q2) Which of the following statements best describes CRM?
A)The letters CRM stand for consumer relationship marketing.
B)CRM collects too little data on customers.
C)CRM provides a process to interact with a customer over the long term.
D)CRM takes a simplistic perspective on customers.
Q3) How much information should the companies collect during Stage 1?
A)20%
B)as much information as possible
C)too much data confuses the issue
D)70%
Q4) What could a catalogue retailer use to determine consumers' buying habits?
A)data mining
B)information search
C)evoked sets
D)an information environment
11
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Chapter 10: Product Concepts
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Sample Questions
Q1) Due to the fact the Honda Insight (a hybrid car) has never caught on with buyers, Honda decided to stop manufacturing the car in 2006. This will allow Honda to concentrate its resources on more profitable vehicles. Which of the following terms best describes this?
A)product line contraction
B)product diversification
C)product development strategy
D)market redeployment
Q2) Due to the time required to scan them, universal product codes (UPCs) are typically placed on merchandise that would be classified as shopping products.
A)True
B)False
Q3) What is the difference between a homogeneous shopping product and a heterogeneous shopping product? Give specific examples of products that fit into each category to help illustrate your answer.
Q4) A warranty is a protection and information device intended to confirm the quality of performance of a good or service. What is the difference between an express warranty and an implied warranty?
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Chapter 11: Developing and Managing Products
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148 Flashcards
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Sample Questions
Q1) Typical Apple users were shown advertising and other promotional materials for the new Apple iPhone as well as actual handsets. In addition their reactions to the handsets were recorded in an actual Apple store. What is this also known as?
A)adoption-rate
B)concept
C)simulated (laboratory) market
D)consumer test
Q2) Name and describe four categories of new products.
Q3) Maeva is eager to try new ideas and products. As a lawyer, Maeva has a high income and is very cosmopolitan. What would she be classified as?
A)an early adopter
B)an innovator
C)part of the early majority
D)part of the late majority
Q4) Which of the following is NOT a likely source of new product ideas?
A)customers
B)employees
C)financial lenders
D)competitors
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Chapter 12: Services and Nonprofit Organization Marketing
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160 Flashcards
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Sample Questions
Q1) What is the difference between internal marketing and relationship marketing? Why are these types of marketing important to service marketing?
Q2) The Ritzy Canine Carriage House is a doggy hotel. The lobby features a crystal chandelier, brocade-patterned wallpaper, gold-framed mirrors, and antique chairs. Research has shown that consumers evaluate service quality on five components. When customers rate the people who supervise the dog activities as being "dog people" and having an understanding of the needs of dogs and their owners, which component are they concerned with?
A)reliability
B)responsiveness
C)standardization
D)empathy
Q3) Which of the following is NOT an example of a nonprofit organization?
A)Royal Sun Alliance, an insurance company
B)Canadian Heart & Stroke Association
C)Toronto Humane Society
D)Rotary Club, a service organization
Q4) Two target market issues are unique to nonprofit organizations. Name these two issues, and provide one specific example of each of these issues.
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Chapter 13: Setting the Right Price
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Sample
Questions
Q1) A catalogue retailer offers three styles of khaki pants at three price levels. Customers can buy khaki pants for $26, $32, or $38 and at no other prices but these. The special pricing tactic used by the catalogue retailer is best described as variable psychological pricing.
A)True
B)False
Q2) What is price?
A)what you pay
B)the combined financial value of all inputs
C)the image of value you receive when purchasing the product
D)revenue minus expenses
Q3) One disadvantage of using a penetration pricing policy is that the high unit profit margins will attract potential competitors into production of similar products.
A)True
B)False
Q4) All pricing goals have trade-offs that managers must weigh.
A)True
B)False
Q5) Under what conditions is each of the three basic pricing methods successful?
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Chapter 14: Marketing Channels and Supply Chain Management
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) Sherwin-Williams Company has not only grown to be the largest producer of standard and custom paints and coatings in Canada and the United States, but is among the largest producers in the world. For distribution, what would you expect Sherwin-Williams to use?
A)a network of facilitating agents
B)a horizontally integrated channel
C)a direct channel
D)a vertical marketing system
Q2) Aspen Furniture operates only one manufacturing plant in Edmonton, although it has end-customers in both Asia and Europe. What type of discrepancy has been created?
A)spatial
B)temporal
C)assortment
D)quantity
Q3) What are the three factors affecting channel choice? Briefly discuss how each factor might influence a company to implement a direct channel of distribution.
Q4) Define channel power, channel control, channel leadership, and channel partnering. How are these four terms related?
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Chapter 15: Retailing
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Sample Questions
Q1) These self-service stores carry a limited line of high-turnover, high-priced goods and resemble miniature supermarkets. They are typically located near residential areas and are open long hours, seven days a week. What are they?
A)specialty stores
B)wholesale stores
C)convenience stores
D)factory outlets
Q2) Which of the following houses several departments under one roof, carries a wide variety of shopping and specialty goods, and provides a high level of service?
A)a supermarket
B)a specialty store
C)a convenience store
D)a department store
Q3) A factory outlet is an off-price retailer that is owned and operated by a single manufacturer and carries one line of merchandise-its own.
A)True
B)False
Q4) 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) Point-of-purchase displays in grocery stores, coupons, premiums, and trial-size packages are most useful when the consumer is near which stage of the AIDA model?
A)liking
B)awareness
C)action
D)knowledge
Q2) Which of the following outlines a sequential four-step process for achieving promotional goals?
A)the communication model
B)the hierarchy of impacts
C)the AIDA concept
D)Maslow's hierarchy of needs
Q3) When does persuasion normally become the primary promotion goal?
A)when trying to increase brand awareness
B)when the product enters the growth stage of the product life cycle
C)when selling a highly technical product
D)when reminding consumers where to buy the product
Q4) List the four stages of the product life cycle. Then describe the promotional strategies used in each stage.
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Chapter 17: Advertising, Public Relations, and Direct Response
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150 Flashcards
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Sample Questions
Q1) Your company has decided to become the North American producer of Chocomel, a Dutch soft drink that tastes like chocolate mousse. It is made from partially creamed milk, sugar, cocoa, and stabilizers. The price for one glass bottle will be $1.99. You are responsible for developing several advertisements for Chocomel. Name six common advertising appeals. For each appeal, give an example of a Chocomel advertisement message using that appeal.
Q2) When launching the iPhone 6, Apple used advertising via television and the web to stimulate demand for its new cell phone. What type of advertising is this?
A)comparative advertising
B)innovative advertising
C)image advertising
D)pioneering advertising
Q3) The Canadian Armed Forces created a video game called Canada's Army to boost its recruiting efforts. What is the game an example of?
A)a videomercial
B)advergaming
C)a relationship tool
D)an infomercial
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Chapter 18: Sales Promotion and Personal Selling
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145 Flashcards
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Sample Questions
Q1) What is the impact that technology has on personal selling?
Q2) What are cobranded credit cards used in conjunction with?
A)self-perpetuating discounts
B)loyalty marketing programs
C)consumer discount programs
D)functional consumer discounts
Q3) What is the term for a determination of the customer's specific needs and wants and the range of options the customer has for satisfying them?
A)stimulus-response continuum
B)needs hierarchy
C)needs assessment
D)sales probability
Q4) Which of the following statements best describes the relative amount of time spent in the selling process by different types of salespeople?
A)A consultative salesperson would spend a lot of time generating leads.
B)A traditional salesperson would spend a lot of time following up the sale.
C)A relationship salesperson would spend a lot of time qualifying leads.
D)A consultative salesperson would spend a lot of time closing the sale.
Q5) What are the seven steps in the personal selling process?
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Chapter 19: Social Media and Promotion
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123 Flashcards
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Sample Questions
Q1) What should brands, organizations, and nonprofits that use Facebook do?
A)Use the platform to create traditional marketing campaigns.
B)Make their pages public and searchable.
C)Never use the Facebook wall to communicate with consumers.
D)Use all of Facebook's privacy options to ensure that only the right people have access to company information.
Q2) Over 50 percent of television viewers claim to use their smartphones to access additional information on a product or service immediately after seeing the product or service advertised on TV.
A)True
B)False
Q3) Which of the following games is probably the most appropriate for marketing and advertising?
A)Dungeon Runners
B)World of Warcraft
C)Texas Hold'em Poker
D)Legends of Future Past
Q4) LinkedIn is used for social and business use.
A)True
B)False
Page 21
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