Business Marketing
Midterm Exam
Course Introduction
Business Marketing explores the strategies and processes involved in marketing products and services to other businesses, organizations, and institutions rather than individual consumers. This course examines the unique demands of the business-to-business (B2B) marketplace, including relationship management, value creation, segmentation, buying behavior, and supply chain considerations. Students will learn how to develop effective marketing plans, negotiate and manage key accounts, and leverage digital tools to enhance B2B engagement. Real-world case studies and practical projects will provide insight into building strong business networks and achieving organizational marketing objectives.
Recommended Textbook
MKTG6 6th Edition by Charles W. Lamb
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22 Chapters
3901 Verified Questions
3901 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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Q1) Even if the Twix commercial parody infringed on its copyright,Nestlé should have allowed it to remain because that would be doing the "right thing"-that is,it would show corporate social responsibility.
A)True
B)False
Answer: False
Q2) Jewelry stores want to provide their customers with the highest quality of diamonds available at the lowest possible prices.Unfortunately,the lowest priced diamonds these days are sold by African rebels who use the profits to engage in genocide.Human rights organization have asked jewelers to buy diamonds that are "conflict free"--that is,from South Africa,Australia,or Canada.LeeBrant is one retail jewelry store that sells only diamonds that are certified to be from these countries.LeeBrant is exhibiting which marketing management orientation?
A)Production
B)Sales
C)Societal marketing
D)Direct
E)Omnipotent
Answer: C
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3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) Mary Kay recognizes geographic and ethnic segmentation.It also sees most women as having similar preferences.These would probably lead to what strategy?
A)Continue to create product lines specifically for each target market.
B)Produce makeup and the like in the most uniform way possible because women tend not to recognize cultural differences when it comes to beauty care projects.
C)Treating customers in different countries as reference groups.
D)Pursue a geodemographic segments to target women in even smaller,more diverse markets.
E)Produce products with the same formulations yet intensify marketing to individual cultures and the like.
Answer: E
Q2) Mary Kay's seeking consultants who fit the segmentation of the target market is a form of product user positioning.
A)True
B)False
Answer: True
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4
Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) List three ways an organization will benefit from the development and use of a code of ethics.
Answer: The text provides four advantages that result from the creation and use of ethical standards,and students can list any three: (1)The guidelines help employees identify what their firm recognizes as acceptable business practices.(2)A code of ethics can be an effective internal control on behavior,which is more desirable than external controls such as government regulation.(3)A written code helps employees avoid confusion when determining whether their decisions are ethical. (4)The process of formulating the code of ethics facilitates discussion among employees about what is right and wrong and ultimately leads to better decisions.
Q2) Antivirus software is a membership service.
A)True
B)False Answer: True
Q3) For home users,McAfee's antivirus program would be called a specialty product.
A)True
B)False
Answer: True
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Chapter 4: The Marketing Environment
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Sample Questions
Q1) Commercial truck drivers have suffered financially as a result of increasing diesel fuel prices.As they look for ways to make their trucks perform more efficiently,manufacturers have created truck body designs that are more aerodynamically sound.This is an example of how _____ factors can help during recessionary periods.
A)technological
B)competitive
C)economic
D)cultural
E)demographic
Q2) Why are CUTCO sales people not small-scale franchisees?
A)They do not establish retail outlets.
B)They only deal with Vector Marketing for the only product they sell.
C)They do not pay a royalty.
D)They do not pay Vector Marketing for the right to sell CUTCO products.
E)all of the above
Q3) A baby boomer's average life expectancy is at an all-time high of 79.2 years.
A)True
B)False
Q4) What is the CPSC? How does it affect marketing?
Page 6
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) More people attended subsequent Boston Blazer games because the team had turned a sophomoric stunt into a competitive advantage.
A)True
B)False
Q2) Which of the following is the latest round of World Trade Organization?
A)Mercosur covenant
B)CAFTA Alliance
C)Doha Round
D)Uruguay Round
E)WTO Round
Q3) A tax levied on the goods entering a country is called a(n): A)license.
B)quota.
C)boycott.
D)exchange control.
E)tariff.
Q4) Yellow Tail lacked an integrated market communication message.
A)True
B)False
Q5) Identify at least three negatives of global trade.
Page 7
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) Define perception and describe the three types of selective perception.Use personal examples in your discussion.
Q2) Refer to Interface.Which of the following is the BEST example of a nonmarketing-controlled information source for floor tiling?
A)A store display showing the various colors of tiles available
B)An ad in Better Homes & Gardens for floor tiles
C)A salesperson at a store that specializes in floor coverings
D)A brochure explaining why the corn-based floor tiles are superior to nylon ones
E)A discussion with coworkers about the best floor tiles to buy
Q3) Refer to New Car Purchase.Susanne has influenced Zena's choice of a new automobile.In this instance,Susanne is acting as a(n):
A)dissociative reference
B)purchase catalyst
C)gatekeeper
D)social reference
E)opinion leader
Q4) For marketers,reference groups have three important implications.Describe them.
Q5) Compare and contrast beliefs and attitudes.
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Chapter 7: Business Marketing
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Sample Questions
Q1) Lyon College and other institutions of higher learning can also project some form of lifetime value analysis on incoming freshmen.
A)True
B)False
Q2) Name and briefly describe five of the major differences between business and consumer markets.
Q3) Refer to Boise Cascade.When the demand for new housing is high,the _____ demand for the products manufactured by Boise Cascade is also high.This is an example of:
A)joint demand.
B)inelastic demand.
C)derived demand.
D)fluctuating demand.
E)elastic demand.
Q4) What is a buying center? What are some implications of buying centers for the marketing manager?
Q5) Most business marketers emphasize personal selling in their promotion efforts. A)True
B)False
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) When a firm serves two or more well-defined market segments with a distinct marketing mix for each,it is using a(n)_____ targeting strategy.
A)undifferentiated
B)concentrated
C)niche
D)multisegment
E)pluralistic
Q2) The purchasing strategies of business buyers may provide useful segments.Two purchasing profiles for business buyers have been identified.Name and describe them.
Q3) Which of the following is a potential disadvantage associated with an undifferentiated strategy?
A)Large competitors may more effectively market to niche segment
B)Unimaginative product offerings
C)Segments too small
D)High costs
E)Loss of synergy
Q4) What are the four criteria that are necessary to define a market?
Q5) What is product differentiation,and how can it be achieved?
Q6) List,in correct order,the steps in segmenting a market.
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Chapter 9: Decision Support Systems and Marketing Research
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Sample Questions
Q1) What is the moderator's role in online focus groups?
A)To limit the discussion to closed-ended questions
B)To provide freestyle screen dialogue including text,instructions,and probes
C)To make sure costs remain relatively low
D)To act as a data-mining engineer
E)To let respondents control the discussion
Q2) _____ occurs when a sample somehow does not represent the target population.
A)Sampling error
B)Measurement error
C)Cross-tabulation
D)Diagnostic error
E)Single-source research
Q3) What is marketing research? Name and briefly describe the three functional roles of marketing research.
Q4) The best experiments are those in which:
A)all variables are allowed to act freely.
B)all variables are held constant except the ones being manipulated.
C)all factors provide the desired results.
D)the subjects are unpaid volunteers.
E)two variables are held constant while all of the others are manipulated.
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Chapter 10: Product Concepts
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Sample Questions
Q1) Name and describe the two labeling forms.
Q2) Refer to Hardie Siding Products.Since all of the siding products sold by Hardie are sold under the James Hardie brand name,it is clear that the company uses a _____ strategy.
A)family branding
B)private branding
C)business branding
D)co-branding
E)repositioning
Q3) Ending the Mercury division and selling off its stakes in luxury cars helped Ford transition to being a greener company.
A)True
B)False
Q4) Packaging is an important component of the product strategy.List and briefly describe the four major functions of packaging.
Q5) Products can be classified as either business/industrial or consumer products.Explain what distinguishes business products from consumer products and why it is important to understand this distinction.
Q6) What purposes does branding serve?
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) One hot August day,Tom saw a can of AriZona Beverage Company's Arnold Palmer
Half-and-Half iced tea and lemonade drink at the local convenience store.He decided to try the product and found that he really liked it.Now,Tom regularly purchases this product to quench his thirst on hot days.Tom is an example of a(n):
A)opt-in buyer.
B)innovator .
C)adopter.
D)luddite.
E)laggard.
Q2) The first filter in the product development process is called screening.
A)True
B)False
Q3) A long-run drop in sales signals the beginning of which stage in the product life cycle?
A)Laggard
B)Saturation
C)Deterioration
D)Decline
E)Decay
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Page 13
Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) Virtual Bellhop is a company that ships awkward sporting goods to vacation destinations so its customers do not have to worry about lugging them through airports or having them damaged in transit.Thus far,its record for getting the sporting equipment to the correct destination for the vacationer is perfect.This indicates that the company excels at which component of service quality?
A)Tangibles
B)Empathy
C)Reliability
D)Flexibility
E)Assurance
Q2) The core service is the most basic benefit the consumer is buying.
A)True
B)False
Q3) The most basic benefit the consumer is buying in a service is referred to as the:
A)primary service
B)inherent service
C)core service
D)tangible service
E)complete service
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Page 14
Chapter 13: Marketing Channels
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Sample Questions
Q1) Caterpillar,the manufacturer of tractors and other earthmoving equipment,has an extremely high market share,which means customers seek the dealers out regardless of where they are.There are approximately 50 Caterpillar dealers in the United States--one in each state.From this information,you can surmise that Caterpillar uses _____ distribution.
A)selective
B)premium
C)intensive
D)exclusive
E)inclusive
Q2) A _____ is a business structure of interdependent organizations that are involved in the process of making a product or service available for use or consumption by end customers or business users.
A)facilitating agency or place member
B)marketing mix intermediary
C)selective distribution channel
D)marketing channel or channel of distribution
E)transportation channel or channel of movement
Q3) What is a marketing channel? What type of businesses make up a marketing channel?
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Chapter 14: Supply Chain Management
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Sample Questions
Q1) All of the following are activities related to the manufacturing flow process EXCEPT:
A)the determination of a supply's route and velocity through manufacturing
B)updating account status following shipment
C)materials planning
D)quality management
E)inventory management for both parts and finished goods
Q2) Peachtree Windows does not make a window until an order is received.It can promise delivery in five working days because of the excellent relationships it has established with its suppliers.The partnering relationship that Peachtree Windows has established with its suppliers indicates the use of:
A)supply chain management
B)yield management
C)channel networks
D)horizontal marketing channels
E)intensive distribution strategy
Q3) The goal of a materials-handling system is to handle products as infrequently as possible
A)True
B)False
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Page 16
Chapter 15: Retailing
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Sample Questions
Q1) The person who called Alisa last night and tried to sell her double-paned windows for her home was using outbound telemarketing.
A)True
B)False
Q2) The Cedar Store carries a full line of cedar swings,gliders,garden benches,and tables.All of its products can be purchased through its Web site.The site has done well since the Cedar Store's products do not need to be touched or smelled before purchase.The Cedar Store is engaging in:
A)online retailing.
B)shop-at-home networking.
C)mobile vending.
D)franchising.
E)electronic wholesaling.
Q3) Which type of retail store specializes in a given type of merchandise?
A)An independent store
B)A department store
C)A discount store
D)A specialty store
E)A first-level store
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Page 17
Chapter 16: Integrated Marketing Communications
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Sample Questions
Q1) The marketing campaign for Alpo dog food uses posters in veterinarians' offices,radio and television ads,and a Web site to promote benefits of the dog food.In terms of the communication process,Alpo uses several different:
A)source of feedback.
B)channels.
C)encoders.
D)decoders.
E)noise interrupters.
Q2) Communication to large audiences,usually through a medium such as television or a newspaper,is called _____ communication.
A)mass
B)feedback-proof
C)referential
D)interpersonal
E)public
Q3) Because the initial communications were unidentified (and in dead languages),they would be considered publicity rather than advertising.
A)True
B)False
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Page 18
Chapter 17: Advertising and Public Relations
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Sample Questions
Q1) A(n)_____ is a desirable,exclusive,and believable advertising appeal selected as the theme for a campaign.
A)executional framework
B)creative message strategy
C)benefit
D)attribute
E)unique selling proposition
Q2) With a(n)_____ media schedule,the advertiser may schedule the ads heavily every other month to achieve a greater impact with an increased frequency and reach at those times.
A)intermittent
B)flighted
C)periodic
D)unremitting
E)alternating
Q3) Name and briefly define the two major types of advertising.
Q4) Burger King utilized the growing interest in the Internet as an advertising medium when it put up its Coq Roq Web site.
A)True
B)False
Page 19
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Chapter 18: Sales Promotion and Personal Selling
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Sample Questions
Q1) Ron Popeil has made millions of dollars capitalizing on the principle of sales promotion having more effect on behavior than attitude.
A)True
B)False
Q2) You are responsible for sales promotion for Replenishmints,long-lasting breath mints that contain a blend of vitamins and other nutrients specifically formulated for smokers and for people exposed to tobacco in their environment.You need to introduce the mints to supermarket managers and owners,attract and identify new store contacts,and test market the response to Replenishmints.Which type of trade promotion will help you reach your objectives in the most cost-effective way?
A)Trade shows
B)Trade allowances and direct incentives
C)Push money
D)Contests and sweepstakes
E)Direct sampling and store demonstrations
Q3) Loyalty marketing programs are targeted to people who consistently buy the least expensive brand.
A)True
B)False
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) At a price of $1,192,057,the Bugatti Veyron may be the most expensive street-legal car on the market today.Obviously,Bugatti is NOT using a(n)_____ pricing objective in setting the price for this car.
A)inelastic or supply-oriented
B)market share or sales maximization
C)profit maximization or target return on investment
D)status quo or satisfactory profits
E)demand-oriented or supply-oriented
Q2) Manufacturers can do all of the following to regain some control over the price their products are sold for at the retail level EXCEPT:
A)require resellers to maintain prices in line with competitors' prices.
B)developing brand loyalty in consumers by delivering quality and value.
C)avoiding doing business with price-cutting discounters.
D)franchising.
E)using an exclusive distribution system.
Q3) In most communities,the price of gas is more or less the same at all area service stations.This is an example of sales-oriented pricing.
A)True
B)False
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Page 21
Chapter 20: Setting the Right Price
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Sample Questions
Q1) Price lining presents certain drawbacks to sellers,especially if:
A)costs are continually rising.
B)competition suddenly increases.
C)profit margins are lowered.
D)demand is rising.
E)costs are flat.
Q2) Single-price selling:
A)removes price comparisons from the buyer's decision-making process.
B)does not benefit the retailer.
C)is most effective when used during an inflationary period.
D)encourages clerical errors.
E)is accurately described by none of these choices.
Q3) Procter & Gamble entered the electric toothbrush market with the Crest Spinbrush at a price considerably lower than lesser-known competitors.It used penetration to gain market share.
A)True
B)False
Q4) Discuss the two reasons why managers sometimes price their products too low,thereby reducing company profits.
Q5) List in order the four steps used to set the right price for a product.
Page 22
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Chapter 21: Customer Relationship Management Crm
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Sample Questions
Q1) What is knowledge management? What type of companies use knowledge management?
Q2) Countries in _____ generally have the strictest legislation regarding the collection and use of customer data.
A)Asia
B)North America
C)Africa
D)Europe
E)South America
Q3) Refer to Que Rica Vida.When General Mills employees share information about customers gathered through the Que Rica Vida initiative,they are practicing:
A)interaction management.
B)knowledge management.
C)profit-oriented management.
D)lead management.
E)performance management.
Q4) Customer lifetime value analysis shows marketers how much they can spend to acquire new customers.
A)True
B)False
Page 23
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Chapter 22: Social Media and Marketing
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Sample Questions
Q1) Compare the demographics of a typical game player within a social networking site such as Facebook with those of a typical player of massive multiplayer online games such as World of Warcraft.
Q2) Which of the following statements about the use of social media in marketing is TRUE?
A)All marketers understand that social media is mostly about return on investment (ROI).
B)Marketers have plenty of hard evidence as to the effectiveness of the measurements and metrics that track social media.
C)Given the relative ease and efficiency with which organizations can use social media,a positive return on investment is likely for many-if not most-organizations.
D)Fewer than 30 percent of marketers plan on increasing their investments in social media.
E)All of the above are true.
Q3) Because Gatorade is one of the best known marketers in the world,it should dive headfirst into social media.
A)True
B)False
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