Business Marketing
Midterm Exam
Course Introduction
Business Marketing is a course designed to provide students with a comprehensive understanding of the principles, strategies, and practices used in marketing goods and services to other businesses, organizations, and institutions. The course explores the unique aspects of business-to-business (B2B) marketing, including market analysis, segmentation, buying behavior, relationship management, and the formulation of effective marketing strategies. Students learn about product development, pricing, distribution, and promotion within a B2B context, as well as the importance of ethical decision-making and digital transformation in modern business marketing. Through case studies and real-world examples, students acquire practical skills and insights necessary for successful marketing in competitive business environments.
Recommended Textbook
Marketing 2016 18th Edition by William M. Pride O. C. Ferrell
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20 Chapters
4072 Verified Questions
4072 Flashcards
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Page 2
Chapter 1: An Overview of Strategic Marketing
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Sample Questions
Q1) According to the marketing concept, an organization should try to
A)consider short-run objectives and cash flow needs before developing new products.
B)define its business as "making a product."
C)provide products that satisfy customers' needs and allow the organization to achieve its goals.
D)put most of its emphasis on marketing activities and be less concerned with finance, accounting, and personnel.
E)view selling activities as the major means of increasing profits.
Answer: C
Q2) Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?
A)Profits for the seller
B)A good bargain on the product for the buyer
C)Reducing the seller's inventory
D)One party having to compromise in the exchange
E)Satisfaction for both the buyer and seller
Answer: E
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Chapter 2: Planning, Implementing, and Evaluating Marketing Strategies
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141 Flashcards
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Sample Questions
Q1) An expected level of performance against which actual performance can be compared is a
A)standard performance.
B)standard of excellence.
C)step in sales analysis.
D)performance standard.
E)corrective standard.
Answer: D
Q2) An organization's goals focus on the ends or results that the firm seeks.
A)True
B)False
Answer: True
Q3) Marketing managers can classify a firm's products into four basic types: stars, cash cows, dogs, and question marks.
A)True
B)False
Answer: True
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Page 4
Chapter 3: The Marketing Environment
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Sample Questions
Q1) Refer to Scenario 3.2.The new Clayton Homes i-House product is a reflection of the company's attention to ____ in developing its strategy.
A)marketing research analysis
B)self-regulatory analysis
C)consumer behavior analysis.
D)marketing information processing.
E)environmental scanning and analysis.
Answer: E
Q2) The best approach for a company to take when monitoring its competitors is
A)watching for increases and decreases in competitors' prices and match them.
B)analyzing all information that is readily available about competitors.
C)sending employees to competitors' offices and factories to observe their actions.
D)developing a system for gathering ongoing information about competitors.
E)reading important business publications such as The Wall Street Journal.
Answer: D
Q3) The Food and Drug Administration influences marketing activities the most.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Social Responsibility and Ethics in Marketing
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Sample Questions
Q1) The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders is called
A)marketing citizenship.
B)social responsibility.
C)stakeholders.
D)cause-related marketing.
E)strategic philanthropy.
Q2) ____ ethical issues generally surface when companies fail to disclose risks associated with a product or information regarding its function, value, or use.
A)Promotion-related B)Distribution
C)Corporate
D)Product-related E)Safety
Q3) How can a code of conduct encourage ethical behavior in an organization?
Q4) Provide an overview of important social responsibility issues in marketing, and indicate their impact on marketing decisions.
Q5) Define and describe the importance of social responsibility in marketing.
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Chapter 5: Marketing Research and Information Systems
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189 Flashcards
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Sample Questions
Q1) One overlooked internal source of secondary marketing information discussed in the text is
A)sales receipts.
B)accounting records.
C)interviews with salespeople.
D)quality control data.
E)consumer surveys.
Q2) The real value of marketing research to the organization can best be measured by
A)its immediate impact on profits.
B)the amount of time spent.
C)how much it costs.
D)improvements in the ability to make decisions.
E)the increase in sales volume or market share.
Q3) If a research method measures what it is supposed to measure, it is said to be reliable.
A)True
B)False
Q4) Marketing research can be used to test a hypothesis.
A)True
B)False
Page 7
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Chapter 6: Target Markets Segmentation and Evaluation
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206 Flashcards
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Sample Questions
Q1) A market segment profile may cover such aspects as demographic characteristics, geographic factors, product benefits sought, lifestyles, brand preferences, and usage rates.
A)True
B)False
Q2) Brian works for a manufacturer of sports equipment and is currently developing a company sales forecast for golf clubs. While reviewing data, he discovered a pattern in sales volume over the past ten years that peaked during two months of each year. Brian likely used which sales forecasting technique?
A)the Delphi technique
B)Executive judgment
C)Time series analysis
D)Market tests
E)Regression analysis
Q3) A person who has buying power also has the authority to buy.
A)True
B)False
Q4) Describe the three areas marketers should examine when they evaluate relevant market segments.
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Chapter 7: Consumer Buying Behavior
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225 Flashcards
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Sample Questions
Q1) Routinized response behavior is what a consumer does when
A)purchasing an unfamiliar product.
B)buying frequently purchased, low-cost items that need little effort.
C)an information search is extensive and may involve consulting with friends and family.
D)buying products that require a moderate amount of time for information gathering and deliberation.
E)he or she enters the problem recognition stage of the consumer buying decision process.
Q2) A major determining factor in deciding which type of decision-making process should be used depends on the individual's intensity of interest in a product and the importance of the product for that person. This is known as an individual's A)motivational structure.
B)routinized response behavior.
C)level of involvement.
D)cognitive dissonance.
E)evaluative criteria.
Q3) Discuss how reference groups and opinion leaders influence purchase behavior.
Q4) Compare and contrast the three major ethnic subcultures in the United States.
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Page 9
Chapter 8: Business Markets and Buying Behavior
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Sample Questions
Q1) St. Jude's Hospital decides to redo its kitchen with new flooring, cabinets, counters, and appliances. The hospital compiles a description of the project and then asks sellers to submit bids. After determining the most attractive bids, the hospital will then work with two or three companies to determine who will get the contract. This is an example of using ____ for a purchase decision.
A)sampling
B)negotiation
C)inspection
D)elimination
E)description
Q2) Inelastic demand simply means that
A)buyers will not make a modified rebuy purchase.
B)demand depends on how many items are purchased.
C)a price increase or decrease will not significantly change the demand for an item.
D)when price goes up, demand goes down.
E)when supply is reduced, the price will increase.
Q3) In the long run, business demand becomes totally unrelated to consumer demand.
A)True
B)False
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Page 10
Chapter 9: Reaching Global Markets
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Sample Questions
Q1) If a newly formed country wanted to increase its international trade and reduce worldwide tariffs, it would most likely try to become a part of
A)NAFTA.
B)WTO.
C)MERCOSUR.
D)APEC.
E)EU.
Q2) Select the true statement.
A)Legislation regulating marketing in many foreign countries is being eased.
B)A government's attitude toward cooperation with importers has little impact on marketing to that country.
C)Refusing to give payoffs and bribes in some foreign countries may put a marketer at a competitive disadvantage.
D)Bribes and payoffs are considered unethical in all countries and cultures.
E)Bribes and payoffs are supported by U.S. trade policies under certain conditions.
Q3) In what ways can a nation restrict the flow of imported goods?
Q4) Describe how economic and competitive forces affect international marketing strategies.
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11
Chapter 10: Digital Marketing and Social Networking
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165 Flashcards
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Sample Questions
Q1) One of the fastest-growing areas in mobile technology is the creation of applications.
A)True
B)False
Q2) When consumers conduct an online product information search, corporate-generated content appears more credible than consumer messages.
A)True
B)False
Q3) Which of the following statements is true about e-marketing and the marketing mix?
A)For most companies, digital marketing is not necessary to grab and maintain market share.
B)Consumers' increased access to product information causes them to buy more than they otherwise would.
C)In some cases, companies will only offer certain products via digital media, including the Internet.
D)Digital media cannot help businesses streamline their organizations.
E)Basic Internet literacy is declining all over the world.
Q4) Explain the ethical issues associated with digital media.
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Page 12
Chapter 11: Product Concepts, Branding and Packaging
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375 Verified Questions
375 Flashcards
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Sample Questions
Q1) A product that is simply labeled with the product category is considered a A)private brand.
B)no-name product.
C)generic brand.
D)poor quality item.
E)lean manufacturer brand.
Q2) A service is intangible and is the result of the application of human or mechanical efforts to people or objects.
A)True
B)False
Q3) Identify and describe the major categories of business products.
Q4) A secondary-use package is defined as one that
A)can be used as a promotional tool.
B)can be reused for purposes other than its initial use.
C)facilitates transportation, storage, and handling for middlemen.
D)is recyclable and environmentally safe.
E)promotes an overall company image.
Q5) Early adopters are the first group of consumers to adopt a new product.
A)True
B)False
13
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Chapter 12: Developing and Managing Products
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Sample Questions
Q1) Concept testing gives reliable feedback, but at a relatively high cost.
A)True
B)False
Q2) The annual Consumer Reports magazine rating of your company's flagship product was just released. Generally speaking the rating was good but not great. Based on the consumer comments that were referenced in the rating, it appears that many consumers have a negative view of the product's convenience and safety attributes. In order to address these consumer concerns your company should consider doing which of the following?
A)Make aesthetic modifications to the product.
B)Make line extensions to the product.
C)Make functional modifications to the product.
D)Lower the price of the product.
E)Make quality modifications to the product.
Q3) Business analysis provides a tentative sketch of a product's profitability.
A)True
B)False
Q4) Why is it often difficult for organizations to delete products?
Q5) Discuss the major approaches that marketers use to differentiate their products.
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Chapter 13: Services Marketing
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195 Flashcards
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Sample Questions
Q1) Any service provider that offers time-sensitive services receives most of its revenue during
A)peak demand.
B)heavy use time.
C)the off-season.
D)preferred demand.
E)customer contact time.
Q2) What should marketers do to promote the consistency and reliability of their services most effectively?
A)Limit the number of employees in their organization
B)Train employees and develop standard procedures for dealing with customers
C)Encourage employees to be creative in solving customer issues and complaints
D)Perform as much of the service as possible before the customer arrives
E)Require employees to be shining, happy people all day long
Q3) In most service industries, customer-contact employees are
A)valued as the most important employees in the organization.
B)the best trained employees in the organization.
C)the lowest-paid and least-trained employees.
D)well-trained but have high turnover rates.
E)moderately paid personnel with high rates of turnover.
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Chapter 14: Marketing Channels and Supply-Chain Management
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Sample Questions
Q1) Refer to Scenario 14.1. The Liz & Co brand is sold only at J.C. Penney's. This is an example of ____ distribution.
A)selective
B)routine
C)horizontal
D)intensive
E)exclusive
Q2) Without wholesalers and other intermediaries,
A)most products would be much less expensive because fewer companies would be handling the product.
B)products would be cheaper because the functions of intermediaries would be eliminated.
C)products would likely be more expensive due to the use of less efficient channel members.
D)products would never be able to make it to the ultimate consumer at any price without passing through intermediaries.
E)many products would be more expensive because retailers would expect more profit.
Q3) Name and define the four types of utility created by marketing channels.
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Chapter 15: Retailing, Direct Marketing and Wholesaling
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248 Verified Questions
248 Flashcards
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Sample Questions
Q1) In contrast to industrial products, consumer products are often purchased because of
A)economic planning.
B)necessity.
C)prior planning.
D)social influences.
E)rational needs.
Q2) Mark Bradley's company takes orders from its collection of retail customers and arranges the shipment of goods directly from manufacturers or other wholesalers to its customers' businesses. Mark is operating as a
A)mail-order wholesaler.
B)drop shipper.
C)desk wholesaler.
D)truck jobber.
E)specialty-line wholesaler.
Q3) A cash-and-carry wholesaler provides transportation, delivers products directly to customers, and places products on the retailer's shelves.
A)True
B)False
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Page 17
Chapter 16: Integrated Marketing Communications
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Sample Questions
Q1) Which of the following types of promotion informs potential customers about a product and what it is?
A)Reminder
B)Competitive
C)Comparative
D)Pioneer
E)Repetitive
Q2) When a marketer makes an effort in promotion to point out the strengths and benefits of a specific brand, it is an attempt to build ____ demand.
A)primary
B)secondary
C)selective
D)economic
E)competitive
Q3) Proxemic communication is communication through touching.
A)True
B)False
Q4) Explain the communication process.
Q5) Identify the major objectives of promotion.
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Chapter 17: Advertising and Public Relations
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Sample Questions
Q1) You are a brand manager for a major retailer and you just completed developing a series of advertisements with the help of your outside ad agency. You are excited about the ads and you are anxious the get the marketing vice president's opinion of the ads. Unfortunately, the vice president does not believe the ads will be effective. She wants you to do some type of effectiveness evaluation of the ads before the company spends a lot of money running them.Which of following evaluation techniques should you use?
A)A consumer jury
B)A recognition test
C)An unaided recall test
D)An aided recall test
E)Any type of post test
Q2) Reinforcement advertising tells current users how to get the most satisfaction from the brand they have chosen.
A)True
B)False
Q3) To announce a major news event, an organization should use a news release.
A)True
B)False
Q4) What is an advertising platform? What is the best way to develop a platform?
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Chapter 18: Personal Selling and Sales Promotion
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Sample Questions
Q1) Assisting the producer's customers in selling to those customers is the major purpose of which type of salesperson?
A)Trade salesperson
B)Technical salesperson
C)Missionary salesperson
D)Order getter
E)Order taker
Q2) Jamba Juice offers its customers a stamp card that allows them to receive a free smoothie after they have filled an entire card. This is an example of a
A)free sample.
B)rebate.
C)frequent-user incentive.
D)premium.
E)consumer contest.
Q3) What is the rationale for having sales force objectives, and how are they developed?
Q4) If possible, the salesperson should handle objections only when they arise.
A)True
B)False
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Page 20
Chapter 19: Pricing Concepts
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Sample Questions
Q1) Identify and describe the major types of discounts used for business markets. Then explain the reasons for using each type.
Q2) If a firm currently produces 2,500 products per month and decides to produce 2,501, it will incur
A)more fixed costs.
B)higher average fixed costs.
C)fewer variable costs.
D)a marginal cost.
E)higher average variable costs.
Q3) How can transfer pricing be calculated? Give three alternatives.
Q4) Demand depends only on the price of the product.
A)True
B)False
Q5) Which of the following is true about non-price competition?
A)A major advantage of non-price competition is flexibility.
B)Non-price competition does not allow the marketer to build brand loyalty.
C)Price wars may result from non-price competition.
D)In non-price competition, marketers distinguish their brands with unique product features.
E)In non-price competition, marketers do not use promotion.
Page 21
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Chapter 20: Setting Prices
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Sample Questions
Q1) How might a marketer find information about a competitor's prices? Why is this information important?
Q2) If PepsiCo sets its twelve-pack price to match the price charged by Coca-Cola, Pepsi is using which of the following pricing methods?
A)Demand-based
B)Cost-based
C)Reference pricing
D)Competition-based
E)Price leader
Q3) Identify and describe seven types of psychological pricing.
Q4) Refer to Scenario 20.1. Given Ray-Ban's plan for positioning the new sunglass line, they should use a ____ strategy when introducing their new product.
A)promotional
B)penetration
C)price-skimming
D)reference
E)secondary-market
Q5) Identify and describe the four types of product-line pricing.
Q6) What is bundle pricing? Give three examples, each one from a different industry.
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