Business Marketing
Final Exam Questions
Course Introduction
Business Marketing explores the concepts and strategies involved in marketing goods and services to other businesses, government agencies, and institutions, rather than individual consumers. The course covers key topics such as organizational buying behavior, business market segmentation, relationship management, value creation, and the development of effective marketing plans tailored to business customers. Students will analyze the unique characteristics of business markets, examine business-to-business (B2B) marketing channels, and evaluate contemporary trends including digital and global marketing strategies. Real-world cases and practical assignments reinforce the application of theoretical frameworks, preparing students to understand and address the complexities of marketing in a business context.
Recommended Textbook
MKTG 11th Edition by Charles W. Lamb
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Page 2
Chapter 1: An Overview of Marketing
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Q1) Livin' Styles, a home décor company, is well known for its varieties of designs. The management of Livin' Styles collaborates with its customers and co-creates designs. This is an example of _____.
A)following a sales orientation
B)focusing on environmental value
C)delegating authority
D)creating customer value
Answer: D
Q2) Marketing career opportunities do not exist in nonbusiness organizations.
A)True
B)False
Answer: False
Q3) In the context of marketing, which of the following statements is true of nonprofit organizations?
A)They market tangible products.
B)They aim to maximize market share and investment returns.
C)They make use of extensive advertising and promotional activities.
D)They exist to achieve goals other than business-related goals.
Answer: D
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Page 3
Chapter 2: Strategic Planning for Competitive Advantage
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Q1) A diversification strategy is free of risk when a firm is entering unfamiliar markets.
A)True
B)False
Answer: False
Q2) Unlike a cost competitive advantage, a sustainable competitive advantage:
A)is not attractive because of its durability.
B)cannot be copied by the competition.
C)lowers costs by removing frills.
D)does not offer any low-priced products.
Answer: B
Q3) Nile Inc. is one of the leading shoe manufacturing companies in Baltonia. It manufactures canvas shoes that are similar to those produced by other brands. The management of the company has decided to adopt a product/service differentiation competitive strategy. In this scenario, Nile Inc. should:
A)offer its products at the lowest rates in the market.
B)produce aerobic, tennis, and baseball shoes that have specialized features.
C)advertise their products through more media outlets than before.
D)sell products to markets outside Baltonia.
Answer: B
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Page 4
Chapter 3: Ethics and Social Responsibility
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Q1) Conventional morality is the most basic level of ethical development.
A)True
B)False
Answer: False
Q2) Hallie has a tendency to be egocentric. She follows the rules of her company mainly to avoid punishment and to gain respect. When making decisions, she always focuses on what immediate benefits she will gain from an alternative. Which of the following levels of ethical development is illustrated by Hallie?
A)Preconventional morality
B)Postconventional morality
C)Conventional morality
D)Ethnocentric morality
Answer: A
Q3) Which of the following is a disadvantage of cause-related marketing?
A)It does not increase the sale of products.
B)It can lead to consumer cause fatigue.
C)It results in immediate losses for a company because of its focus on a cause.
D)It requires corporations to use anticompetitive measures.
Answer: B
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Page 5
Chapter 4: The Marketing Environment
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Q1) Which of the following statements is true about population trends in the United States?
A)The populations in the rural regions of the United States are aging.
B)In many parts of the country, multigenerational households are increasingly rare.
C)Baby boomers are now the smallest population group.
D)Tweens are now the largest population group.
Q2) Which of the following statements is true of incomes in the United States?
A)The real median household income has fallen since 2009.
B)The median household income is the same across different states.
C)Demographics determine a person's earning potential.
D)A degree holder earns same wages as a nondegree holder.
Q3) The management of a firm has utmost control over the competitive environment confronting it.
A)True
B)False
Q4) Gen Xers tend to be frugal and seek value when making purchases.
A)True
B)False
Q5) Discuss ways to market to the African American market in the U.S.
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Chapter 5: Developing a Global Vision
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Q1) Exporting is usually the most complicated and most risky method of global marketing.
A)True
B)False
Q2) Explain the four stages in which multinational corporations develop their businesses.
Q3) Melrow Inc., a U.S. firm, suffers heavy losses and lays off many of its employees. To reduce its manufacturing costs, it shifts its production units to another country where labor costs are less. In this scenario, Melrow Inc. is engaged in _____.
A)licensing
B)outsourcing
C)franchising
D)inshoring
Q4) Explain franchising.
Q5) Because Facebook, YouTube, and other social media are popular around the world, firms both large and small have embraced social media marketing.
A)True
B)False
Q6) Discuss exports in the United States.
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Chapter 6: Consumer Decision Making
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Q1) Consumers' product preferences for themselves remain stagnant in all stages of the family life cycle.
A)True
B)False
Q2) Explain the consumer decision journey.
Q3) Becky wants to buy a new cell phone. She asks her friends who are technologically savvy to recommend a good, lightweight phone that is easy to use. In this scenario, Becky is obtaining information using a(n) _____.
A)marketing-controlled information source
B)internal information search
C)nonmarketing-controlled information source
D)external information search
Q4) _____ occur when consumers feel that making the wrong decision might cause some concern or anxiety.
A)Physiological risks
B)Financial risks
C)Social risks
D)Psychological risks
Q5) How do reference groups influence consumer buying decisions?
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Chapter 7: Business Marketing
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Q1) Which of the following statements is true of business marketing?
A)It refers to the sale of goods and services for the purpose of personal consumption.
B)It deals with products that are used to facilitate an organization's operations.
C)It has long and indirect channels of distribution.
D)It includes selling stationaries to students.
Q2) The use of direct channels in business marketing has increased dramatically in the past decade with the introduction of various Internet buying and selling schemes.
A)True
B)False
Q3) C-Through, an optics manufacturing company, wants to focus on relationship marketing. In this case, which of the following strategies is the best for C-Through to market its products?
A)It can use social networking sites to advertise itself to businesses.
B)It can market its products through dealers.
C)It can set the price and other conditions of sale without negotiation.
D)It can use accessory equipment and major equipment.
Q4) Explain the distribution structure followed in business markets.
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9
Chapter 8: Segmenting and Targeting Markets
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Q1) _____ is a positioning base that focuses on a personality or type of consumer.
A)Product class
B)Attribute
C)Product user
D)Emotion
Q2) The editorial board of Gamers' Page, a magazine that primarily caters to people who are enthusiastic about sports and gaming, targets people who enjoy games. In this scenario, Gamers' Page uses _____.
A)gender segmentation
B)geographic segmentation
C)psychographic segmentation
D)family life cycle segmentation
Q3) Tennot Inc. sells used cars. It focuses solely on low-income customers who prefer to buy an old car rather than a new one. Therefore, it develops one marketing mix that targets the low-income group. In this scenario, Tennot Inc. most likely uses a(n)_____.
A)undifferentiated targeting strategy
B)multisegment targeting strategy
C)concentrated targeting strategy
D)universal targeting strategy
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Page 10
Chapter 9: Marketing Research
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Q1) The _____ of marketing research is to address "what if" questions.
A)predictive function
B)diagnostic function
C)prescriptive function
D)descriptive function
Q2) The diagnostic role of marketing research includes:
A)gathering and presenting factual statements.
B)predicting future changes in marketing requirements.
C)explaining data.
D)addressing "what if" questions.
Q3) The most popular technique for gathering primary data is _____.
A)survey research
B)observation research
C)ethnographic research
D)experimental research
Q4) Neuromarketing is a fresh attempt to better understand consumers' responses to promotion and purchase motivations.
A)True
B)False
Q5) Explain the importance of marketing research in marketing decision making.
Page 11
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Chapter 10: Product Concepts
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Q1) In the context of product modification, reducing a product's quality:
A)provides new opportunities for market segmentation.
B)lets a manufacturer lower the price of the product.
C)results in increased brand loyalty or new opportunities for market segmentation.
D)helps firms cater to the upper classes effectively.
Q2) Services and ideas are not considered products because they are intangible.
A)True
B)False
Q3) Consumers have trouble comparing homogenous shopping products because the prices, quality, and features of such products are similar.
A)True
B)False
Q4) One of the functions of universal product codes (UPCs) is to:
A)allow products to be modified for improved sales.
B)help customers resell products that have no market value.
C)increase customer loyalty and brand value of a product.
D)help retailers prepare records of customer purchases.
Q5) Explain the importance of product offerings in creating a marketing mix.
Q6) Discuss the concept of planned obsolescence.
Page 12
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Chapter 11: Developing and Managing Products
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Q1) In the context of the new-product development process, which of the following statements is true of screening?
A)It eliminates ideas that are inconsistent with an organization's new-product strategy.
B)It calculates preliminary figures for demand, cost, sales, and profitability.
C)It involves getting consumer reactions to visual representations of a proposed product.
D)It involves making cosmetic or functional changes to existing products.
Q2) A process called 3D printing, or additive manufacturing, is sometimes used to create three-dimensional prototypes quickly and at a relatively low cost.
A)True
B)False
Q3) Absolute failure occurs when a product returns a profit but fails to achieve sales, profit, or market share goals.
A)True
B)False
Q4) A product category includes all brands that satisfy a particular type of need.
A)True
B)False
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Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) According to the gap model of service quality, the gap between the service that customers receive and the service they want:
A)can be positive or negative depending on the quality of service that was provided.
B)can be closed by including misleading advertising campaigns promising more than the firm can deliver.
C)is the result of management's ability to translate customers' needs into delivery systems within the firm.
D)is the result of a lack of understanding or a misinterpretation of the customers' needs, wants, or desires.
Q2) _____ refers to the inability of services to be stored, warehoused, or inventoried.
A)Variability
B)Reliability
C)Heterogeneity
D)Perishability
Q3) What are the three product-related distinctions between business and nonprofit organizations?
Q4) Describe the four promotion strategies that marketers use to promote services.
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14
Chapter 13: Supply Chain Management and Marketing Channels
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Q1) How does the supply chain management of the mass production era differ from the supply chain management practiced today?
Q2) Which of the following statements is true of supply chain-oriented firms?
A)They lack the support of top managers.
B)They are willing to accept long-term risks on behalf of others.
C)They work against their partners when seeking to achieve goals.
D)They are better off in the long run financially than those who are not.
Q3) Magnira Inc., an equipment manufacturing company, designs precision cutting tools that can be used for various applications. A recent project required Magnira Inc. to work closely with a surgical tools manufacturing company to manufacture a stapler that staples closely, which would help ensure less traumatic procedures and quicker patient recoveries. This is an example of the:
A)product development and commercialization process.
B)supplier relationship management process.
C)customer service management process.
D)order fulfillment process.
Q4) What is the manufacturing flow management process? Briefly explain the differences between lean and agile supply chain strategies.
Q5) What are the disadvantages of globalizing a company's supply chain?
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Chapter 14: Retailing
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Q1) Will, a salesperson at a superstore, mistakenly provides wrong information to a customer about the location of a specific brand of dishwashing liquid. The customer, as a result, wastes time searching for the product. This is an example of brand cannibalization.
A)True
B)False
Q2) Delta Graphics Inc., a company specializing in publishing educational books, recruits and trains college students to sell its products door-to-door. Which of the following forms of nonstore retailing is illustrated in this scenario?
A)Direct retailing
B)Telemarketing
C)Automatic vending
D)E-tailing
Q3) _____ is the technique used to sift through the data collected by point-of-purchase scanning equipment.
A)Big data analysis
B)Shopper marketing
C)Market-basket analysis
D)Shopper analytics
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Page 16
Chapter 15: Marketing Communications
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Q1) _____ plays a very important role in how marketers distribute funding among their promotional mix tactics.
A)Data
B)Strategy
C)Noise
D)Publicity
Q2) The managers of Pork Farm Inc., a meat-packing company, want to create more consumer demand for the company's products that are not as popular as its competitors. They have a meeting to decide on the effective communication strategies that can be used to increase the popularity of Pork Farm Inc.'s products among customers. They want to do this by advertising their company's products. In this scenario, the managers of Pork Farm Inc. are developing the _____.
A)promotional strategy
B)distribution strategy
C)service strategy
D)price strategy
Q3) Social media rely on the repetition of the brand message.
A)True
B)False
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Page 17
Chapter 16: Advertising, Public Relations, and Sales Promotion
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Q1) Kriyoto Inc. is a manufacturer of printers, scanners, and other office equipment. It announces a cash refund for corporate purchases in large quantities. Rick purchases 20 color printers for his office from Kriyoto during this sale. To avail the cash refund, he needs to fill out a form provided by Kriyoto and email proof of purchase along with the form. In this case, which of the following types of sales promotions does Kriyoto offer?
A)Premium
B)Bonus
C)Coupon
D)Rebate
Q2) Which of the following models does an advertising campaign often follow?
A)BCG matrix
B)IMC model
C)AIDA model
D)SWOT matrix
Q3) _____ is a form of institutional advertising.
A)Advocacy advertising
B)Pioneering advertising
C)Competitive advertising
D)Comparative advertising
18
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Chapter 17: Personal Selling and Sales Management
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Q1) In personal selling, costs of promoting a product or service can be controlled by:
A)promoting a product to both qualified and non-qualified prospects.
B)promoting undifferentiated sales messages toward prospective consumers.
C)purchasing advertising and sales promotion in large amounts.
D)adjusting the size of the sales force in one-person increments.
Q2) A sales manager's only job is to maximize sales at a reasonable cost while also maximizing profits.
A)True
B)False
Q3) Differentiate between traditional personal selling and relationship selling.
Q4) Briefly explain the impact of technology on personal selling.
Q5) Point-of-sale interaction is a touch point in stores or information kiosks that uses software to enable customers to easily provide information about themselves without feeling violated.
A)True
B)False
Q6) Personal selling provides a brief and precise explanation of the product.
A)True
B)False
Page 19
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Chapter 18: Social Media and Marketing
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Q1) Marla, a 55-year-old woman, needs to move out of town. She wants to connect with some of her old school friends and stay in touch with her ex-colleagues. In this case, which of the following is Marla most likely to use for this purpose?
A)SoundCloud
B)YouTube
C)Facebook
D)Flickr
Q2) Social news sites combine the fun of social networking with the utility of location-based global positioning system technology.
A)True
B)False
Q3) MirrorSense is a social networking site which allows members to write their views and opinions about various products, services, social issues etc. However, members on this website can write no more than 140 characters. In this case, MirrorSense is a(n)
A)e-commerce site
B)search engine
C)e-magazine
D)microblog
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Page 20
Chapter 19: Pricing Concepts
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Q1) Unlike break-even pricing, markup pricing uses complicated concepts of cost.
A)True
B)False
Q2) According to garment makers, the demands of large customers are nearly wiping out profits for all but the very large suppliers.
A)True
B)False
Q3) Psychological pricing is marketing two or more products in a single package for a special price.
A)True
B)False
Q4) Briefly explain how distribution strategy acts as a determinant of price.
Q5) _____ is a pricing policy whereby a firm charges a relatively low price for a product when it is first rolled out as a way to reach the mass market.
A)Penetration pricing
B)Price skimming
C)Price discrimination
D)Status quo pricing
Q6) Discuss the role of price in the evaluation of product alternatives.
Page 21
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