Business Marketing Exam Preparation Guide
Course Introduction
Business Marketing explores the strategies and practices organizations use to market products and services to other businesses, institutions, and government agencies. The course examines the unique characteristics of business markets in contrast to consumer markets, emphasizing topics such as organizational buying behavior, segmentation, targeting, relationship management, and business-to-business (B2B) marketing channels. Students will analyze case studies, develop marketing plans, and consider the impact of digital technologies on B2B marketing practices. The course aims to equip students with the analytical skills and practical knowledge necessary for effective decision-making in organizational marketing contexts.
Recommended Textbook
Marketing The Core 7th Edition by Roger A. Kerin
Available Study Resources on Quizplus
19 Chapters
5345 Verified Questions
5345 Flashcards
Source URL: https://quizplus.com/study-set/3113 Page 2
Chapter 1: Creating Customer Relationships and Value
Through Marketing
Available Study Resources on Quizplus for this Chatper
240 Verified Questions
240 Flashcards
Source URL: https://quizplus.com/quiz/61716
Sample Questions
Q1) Showstoppers refer to
A) creative or innovative members of a marketing team.
B) unexpected alternative uses for a product that result in a sudden increase in sales.
C) factors that might doom a product in the marketplace.
D) a sudden loss of financial backing even though the item is in production.
E) a situation when a competitor's product suddenly beats a firm's new product to the marketplace.
Answer: C
Q2) Suppose you want a snack after taking this exam.Dominos is located across the street from your College of Business classroom.Unfortunately,you forgot your wallet in the haste of getting to class on time to take the test.Therefore,you have no means to pay for the pizza.Which of the following reasons explain why marketing fails to occur here between you and Dominos?
A) There is only one party with unsatisfied needs.
B) The ability to satisfy a need is missing.
C) A desire to satisfy a need is missing.
D) No assessments of consumer wants and needs have been made.
E) There is no way for the parties involved to communicate.
Answer: B
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Developing Successful Organizational and Marketing Strategies
Available Study Resources on Quizplus for this Chatper
363 Verified Questions
363 Flashcards
Source URL: https://quizplus.com/quiz/61715
Sample Questions
Q1) Apple launched the iPhone in 2007,and unit sales reached an astonishing 47.7 percent market share in the smartphone industry by 2015.The global smartphone market is expected to grow at an annual rate of 9.8 percent through 2018 due to the growth in China and other markets.Currently,Apple's iPhone SBU appears to be a
A) question mark.
B) star.
C) hedgehog.
D) cash cow.
E) dog.
Answer: B
Q2) A marketing __________ is defined as the means by which a marketing goal is to be achieved,usually characterized by a specified target market and a marketing program to reach it.
A) plan
B) tactic
C) strategy
D) concept
E) action
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Understanding the Marketing
Environment,ethical Behavior,and Social Responsibility
Available Study Resources on Quizplus for this Chatper
350 Verified Questions
350 Flashcards
Source URL: https://quizplus.com/quiz/61714
Sample Questions
Q1) The use of coupons is a frequently used marketing tactic for which form of competition?
A) pure competition
B) cross-market competition
C) an oligopoly
D) a monopoly
E) monopolistic competition
Answer: E
Q2) The view that an organization has an obligation to those who can affect the achievement of its objectives is referred to as
A) social responsibility.
B) value consciousness.
C) benefit marketing.
D) stakeholder responsibility.
E) profit responsibility.
Answer: D
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: Understanding Consumer Behavior
Available Study Resources on Quizplus for this Chatper
364 Verified Questions
364 Flashcards
Source URL: https://quizplus.com/quiz/61713
Sample Questions
Q1) In Figure 4-1,D represents which stage of the consumer purchase decision process?
A) purchase decision
B) information search
C) financial transaction
D) alternative evaluation
E) postpurchase behavior
Q2) Your company is introducing a new line of activewear for teenagers and invites the members of the high school track team to a private showing of the line.This group consists of __________ for activewear clothing.
A) lifestyle makers
B) aspirational people
C) autonomous leaders
D) opinion leaders
E) joint decision makers
Q3) Why would Proactiv,an acne treatment company,select Maroon 5 front man Adam Levine to appear in an ad campaign?
What kind of influence could he have on consumer behavior?
Q4) Define motivation and personality and how they impact marketing.
To view all questions and flashcards with answers, click on the resource link above.
Page 6
Chapter 5: Understanding Organizations As Customers
Available Study Resources on Quizplus for this Chatper
208 Verified Questions
208 Flashcards
Source URL: https://quizplus.com/quiz/61712
Sample Questions
Q1) When prospective buyers observe the bids of others and decide whether or not to increase the bid price,it is called a
A) forward auction.
B) reverse auction.
C) Webfront auction.
D) traditional auction.
E) bidder's war.
Q2) The existence of reciprocal arrangements,the long-term contracts,and the buyer-seller relationships that can evolve into supply partnerships,are all examples of
A) illegal activities that are a common weakness of organizational buying.
B) illegal activities that result from collusion between buyers and sellers.
C) activities that are strictly governed by the NAICS.
D) the nature of relationships between buyers and sellers in organizational buying.
E) activities that result from extreme competition between manufacturers when there are too few suppliers.
Q3) Explain the differences between independent e-marketplaces and private exchanges.
Q4) What are the characteristics of organizational buying behavior?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Understanding and Reaching Global
Consumers and Markets
Available Study Resources on Quizplus for this Chatper
234 Verified Questions
234 Flashcards
Source URL: https://quizplus.com/quiz/61711
Sample Questions
Q1) The trade feedback effect is one argument for
A) decreasing a nation's exports.
B) free trade agreements.
C) increased tariffs and quotas.
D) international trade associations.
E) decreasing a nation's imports.
Q2) Customs refer to
A) what is considered normal and expected about the way people do things in a specific country.
B) those actions or activities within a community that are unique or distinctly different from any other group.
C) actions or behaviors that are repeated over time and carry a specific meaning to a unique group, nationality, or ethnicity.
D) traditions among a group of people, a nation, or ethnicity that affect their purchase behaviors.
E) what would be considered unusual or unexpected, and even unacceptable, about the way people do things in a specific country.
Q3) Explain the concept of countertrade,and discuss its importance.
Q4) Explain the trade feedback effect.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Marketing Research: From Customer Insights to Actions
Available Study Resources on Quizplus for this Chatper
260 Verified Questions
260 Flashcards
Source URL: https://quizplus.com/quiz/61710
Sample Questions
Q1) The presentation of the results of data analysis is becoming a new field of marketing research known as
A) external data sources.
B) data visualization.
C) data warehouse presentations.
D) internal data source coding.
E) data maximization.
Q2) A(n)__________ question allows respondents to express opinions,ideas,or behaviors in their own words without being forced to choose among alternatives that have been predetermined by a marketing researcher.
A) dichotomous
B) open-ended
C) closed-end
D) fixed-alternative
E) semantic differential
Q3) What is a panel?
How is it used in marketing research? What disadvantages are associated with panels?
Q4) What is data mining and why is it used in marketing research?
Q5) Briefly explain what a marketing driver is.Give three examples.
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Market Segmentation, targeting, and Positioning
Available Study Resources on Quizplus for this Chatper
201 Verified Questions
201 Flashcards
Source URL: https://quizplus.com/quiz/61709
Sample Questions
Q1) When compared to a multiple products,multiple market segments strategy,a one product,multiple market segment strategy
A) is a much more effective means of meeting consumers' individual needs.
B) creates greater savings in production costs.
C) is a more effective way of meeting organizational objectives.
D) has significantly higher distribution costs.
E) is more profitable since a firm can charge the new segments higher prices without changing the product.
Q2) Universal Concerts wants to bring a series of music concerts to Canada next year.In general,western Canadians prefer country music while eastern Canadians prefer rock.In fact,a country music event in eastern Canada is very likely to have lots of empty seats.To maximize revenue,Universal Concerts should segment its Canadian market according to A) geographic characteristics.
B) demographic characteristics.
C) music format characteristics.
D) behavioral characteristics.
E) psychographic characteristics.
Q3) Explain what a market-product grid is and how it is used.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Developing New Products and Services
Available Study Resources on Quizplus for this Chatper
352 Verified Questions
352 Flashcards
Source URL: https://quizplus.com/quiz/61708
Sample Questions
Q1) Procter & Gamble has a large __________ that includes product groupings such as beauty and grooming (Crest toothpaste and Gillette razors),household care (Downy fabric softener and Tide detergent),and Pampers diapers.
A) marketing mix
B) product class
C) product itemization
D) product line
E) product mix
Q2) Until 1996,U.S.carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan.American car manufacturers could blame their failure to a great degree on
A) an insignificant point of difference.
B) too little market attractiveness.
C) not satisfying customer needs on critical factors.
D) poor product quality.
E) incomplete market and product protocol.
Q3) Describe the different ways to define a product as new.
Q4) Explain what an unsought product is and give some examples.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Managing Successful Products, services, and Brands
Available Study Resources on Quizplus for this Chatper
375 Verified Questions
375 Flashcards
Source URL: https://quizplus.com/quiz/61707
Sample Questions
Q1) The swoosh that appears on every Nike product is an example of a A) copyright.
B) trade name.
C) patent.
D) brand name.
E) label.
Q2) The 3M Co.is a master of the __________ pricing strategy.According to a 3M manager,"We hit fast,price high,and get the heck out when the me-too products pour in."
A) penetration
B) cost-plus
C) ROI
D) market-oriented
E) skimming
Q3) A __________ product is a style of the times.
A) high-learning
B) low-learning
C) fashion
D) fad
E) substitute
Page 12
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: Pricing Products and Services
Available Study Resources on Quizplus for this Chatper
374 Verified Questions
374 Flashcards
Source URL: https://quizplus.com/quiz/61706
Sample Questions
Q1) When the Swiss watchmaker TAG Heuer raised the average price of its watches from $250 to $1,000,its sales volume jumped sevenfold.The likely cause of this volume increase is
A) because the watch market is highly conservative.
B) because economies of scale in production would be substantial.
C) because retailers are not willing to carry new brands of watches in this category.
D) because once the initial price is set, it is nearly impossible to lower the price without alienating early buyers.
E) because the watch category frequently uses prestige pricing, wherein lower prices may result in lower sales.
Q2) Price elasticity of demand measures how sensitive consumer demand and the firm's revenues are to changes in the product's price.Explain the difference between a product with elastic demand and a product with inelastic demand.
Q3) What are two special adjustments to the list or quoted price?
Q4) What is the difference between a one-price policy and a dynamic-price policy?
Q5) Describe a profit objective used by many Japanese manufacturing firms.
Q6) How do consumers use price in their assessments of value?
Q7) What are the conditions favoring the use of penetration pricing?
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Managing Marketing Channels and Supply Chains
Available Study Resources on Quizplus for this Chatper
292 Verified Questions
292 Flashcards
Source URL: https://quizplus.com/quiz/61705
Sample Questions
Q1) Logistics refers to
A) an inventory management system where the supplier determines the product amount and assortment a retailer needs and automatically delivers the appropriate items.
B) mathematical formulas and calculations used in determining product volume and demand in order to generate the greatest revenue at the lowest cost.
C) the sequence of firms that performs activities required to create and deliver a product or service to ultimate consumers or industrial users.
D) activities that focus on getting the right amount of the right products to the right place at the right time at the lowest possible cost.
E) a specialized intermediary in the distribution chain responsible for the coordination of all production schedules.
Q2) Define and describe at least one similarity and one difference between dual distribution and a strategic channel alliance.
Q3) With respect to consumer product and service marketing channels,what are the key differences between a direct and an indirect channel?
To view all questions and flashcards with answers, click on the resource link above.
14
Chapter 13: Retailing and Wholesaling
Available Study Resources on Quizplus for this Chatper
330 Verified Questions
330 Flashcards
Source URL: https://quizplus.com/quiz/61704
Sample Questions
Q1) General merchandise wholesalers
A) carry a broad assortment of merchandise and perform all channel functions.
B) own the merchandise they sell but do not physically handle, stock, or deliver it.
C) have a small warehouse from which they stock their trucks for distribution to retailers.
D) work for several producers, carry noncompetitive, complementary merchandise in an exclusive territory, and use over-the-road transportation for all product deliveries.
E) deal exclusively with small low-cost consumer products that are distributed to a select number of large retail chains.
Q2) What is augmented reality?
Give an example of how it could be used in retailing.
Q3) All of the following are forms of nonstore retailing except which?
A) direct selling
B) television home shopping
C) factory outlets
D) online retailing
E) telemarketing
Q4) Briefly describe the three ways retail outlets can be classified.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 14: Integrated Marketing Communications and Direct Marketing
Available Study Resources on Quizplus for this Chatper
289 Verified Questions
289 Flashcards
Source URL: https://quizplus.com/quiz/61703
Sample Questions
Q1) The promotion-to-sales ratio can be used by managers to make year-to-year comparisons of their programs,to compare the effectiveness of their programs with competitors' programs,or to make comparisons with
A) calculated break-even points.
B) estimated return on investments.
C) promotion-to-expense ratios.
D) industry averages.
E) advertising-to-sales promotion ratios.
Q2) The growing concern about __________ has led to a decline in direct marketing response rates among some customer groups.
A) government regulation
B) privacy
C) landfill waste
D) postal rates
E) fraud
Q3) Explain what the hierarchy of effects is.List and explain the five stages.
Q4) Identify and briefly describe each of the five promotional elements.
Q5) Identify and discuss four methods used to set the promotion budget.
Q6) List the key elements of the promotional mix.Why are they used?
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Advertising, sales Promotion, and Public Relations
Available Study Resources on Quizplus for this Chatper
323 Verified Questions
323 Flashcards
Source URL: https://quizplus.com/quiz/61702
Sample Questions
Q1) When developing the advertising program,specifying the advertising objectives helps advertisers with other choices in the process such as selecting media and A) identifying the target audience.
B) evaluating a campaign.
C) designing the advertising.
D) pretesting the advertising.
E) scheduling the advertising program.
Q2) An advertising agency that assists clients by both developing and placing advertisements may receive payment according to an incentive plan based on performance.These plans typically pay for agency costs and a 5 to 10 percent profit,plus bonuses if specific goals are met.This type of arrangement is popular among A) full-service agencies.
B) in-house agencies.
C) modified-service agencies.
D) promotional firms.
E) limited-service agencies.
Q3) Describe the three forms of product advertisements.What are their objectives?
Q4) What are the steps to develop an advertising program?
Q5) What is the difference between a contest and sweepstakes?
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Using Social Media and Mobile Marketing to
Connect With Consumers
Available Study Resources on Quizplus for this Chatper
161 Verified Questions
161 Flashcards
Source URL: https://quizplus.com/quiz/61701
Sample Questions
Q1) __________ refers to any marketing activity conducted though Internet networks to which consumer are continuously connected using a personal mobile device.
A) Mobile marketing
B) Global positioning satellite (GPS) advertising
C) QR coding
D) Digital promotion
E) RFD algorithms
Q2) In classifying social media,self-disclosure is
A) the degree to which a person's thoughts, feelings, likes, and dislikes are shared when engaged in a social interaction.
B) the degree of acoustic, visual, and personal contact between two communication partners.
C) an undesirable effect of social media in which too much personal information is given by users, resulting in identity theft.
D) a growing trend in which telephone and email communications contribute to one's online profile.
E) behavior that leads to an unfavorable impression by other online users.
Q3) Describe the two factors that are used to classify social media.
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Personal Selling and Sales Management
Available Study Resources on Quizplus for this Chatper
304 Verified Questions
304 Flashcards
Source URL: https://quizplus.com/quiz/61700
Sample Questions
Q1) Applied to recruiting and selecting salespeople,a __________ includes to whom a salesperson reports,how he or she interacts with other company personnel,and the customers to be called on.
A) job description
B) sales plan
C) job analysis
D) sales performance audit
E) personal performance plan
Q2) The sales process at Xerox typically follows the six stages of the personal selling process.During the fifth stage,the salesperson engages in __________ (gets a signed document or a firm confirmation of the sale).
A) a soft close
B) an interrogative close
C) an urgency close
D) an action close
E) a conditional close
Q3) What assumption does the stimulus-response presentation format make?
Q4) Explain the selling model that Xerox uses.
Q5) What are the keys to effective need-satisfaction presentations?
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Implementing Interactive and Multichannel Marketing
Available Study Resources on Quizplus for this Chatper
248 Verified Questions
248 Flashcards
Source URL: https://quizplus.com/quiz/61699
Sample Questions
Q1) Customization refers to
A) the specialization in one very small but highly sought out specialty item.
B) Internet-enabled capabilities that make possible a highly interactive and individualized information and exchange environment for shoppers and buyers.
C) the growing practice of personalizing the marketing mix elements to provide a unique shopping and buying experience for each customer.
D) items that are unique in every dimension to minimize feature bloat.
E) novelty items used as sales promotions such as cups, hats, etc., that will be imprinted with a company logo and use the company colors and slogans if applicable.
Q2) Dynamic pricing is typically used for pricing
A) products and services that cannot be purchased in a retail store.
B) the very latest items such as new season fashions.
C) time-sensitive items such as airline seats.
D) high demand products or services that are expected to sell out quickly.
E) electronic services such as computer repair.
Q3) How are transactional and promotional websites different?
Q4) How do online consumers differ from the general population?
What three characteristics of online consumers make them an attractive market?
Page 20
To view all questions and flashcards with answers, click on the resource link above.
Chapter 19: Building an Effective Marketing Plan
Available Study Resources on Quizplus for this Chatper
77 Verified Questions
77 Flashcards
Source URL: https://quizplus.com/quiz/61717
Sample Questions
Q1) Which of the following is one of the six questions most lenders and prospective investors expect to be answered in a marketing or business plan?
A) Does the prospective product meet all government safety standards?
B) Who is your competition and what are they doing?
C) Who will be your key suppliers?
D) Is there a clear market for the product or service?
E) What are your taxes?
Q2) Elements in a marketing plan depend on who the audience is and what the purpose is.For example,the marketing plan for an external audience would
A) give a broad general overview.
B) function as a sales document.
C) be more informally written.
D) be directed to the people who would be affected by it.
E) be directed to the people who must implement the plan.
To view all questions and flashcards with answers, click on the resource link above.
21