Business Marketing
Mock Exam
Course Introduction
Business Marketing explores the principles and strategies involved in marketing products and services to organizations rather than individual consumers. This course covers topics such as understanding organizational buying behavior, market segmentation, relationship building, value proposition development, and channel management within business-to-business (B2B) contexts. Students will analyze case studies, create marketing plans, and examine the role of digital tools in modern B2B marketing. By the end of the course, students will develop the strategic skills necessary to identify business market opportunities, formulate effective marketing strategies, and manage complex buyer-supplier relationships.
Recommended Textbook
Marketing Management 3rd Edition by Greg Marshall
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14 Chapters
1339 Verified Questions
1339 Flashcards
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Page 2
Chapter 1: Marketing in Today's Business Milieu
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92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/2497
Sample Questions
Q1) In the context of change drivers impacting the future of marketing, marketing (little m) is also known as ________ marketing.
A) pro-social
B) tactical
C) strategic
D) predatory
E) green marketing
Answer: B
Q2) The Bazooka brand of candy revamped its package inserts by changing from comic strips to quizzes and brainteasers that direct kids to digital content. In the context of change drivers impacting the future of marketing, this reflects the ________.
A) shift to product glut and customer shortage
B) shift in information power from marketer to customer
C) shift in generational values and preferences
D) shift to distinguishing Marketing (Big M) from marketing (little m)
E) shift to justifying the relevance and payback of the marketing investment
Answer: C
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Chapter 2: Marketing Foundations: Global, Ethical, Sustainable
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Starbucks has been successful in developing "ethically sourced" coffee that is socially responsible and environmentally safe. This demonstrates which element of TBL?
A) people
B) planet
C) product
D) profit
E) promotion
Answer: B
Q2) ________ is the net benefits (or costs) associated with a product or service, and it is affected by the buyer's trust that the company will keep its promises.
A) Value
B) Outlay
C) Exchange
D) Accreditation
E) Gain
Answer: A
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Chapter 3: Elements of Marketing Strategy, Planning, and Competition
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2499
Sample Questions
Q1) When Christy developed her marketing plan for her new store, she kept in mind that conditions can change, so her plan would also change. This demonstrates the importance of staying strategic, but also staying on top of the tactical, in the tips for a successful marketing planning experience.
A)True
B)False
Answer: FALSE
Q2) Maria, the marketing manager of an automobile dealership, is crafting a SWOT analysis. In this case, she should list competitors that have gone bankrupt under
A) strengths
B) threats
C) opportunities
D) strategies
E) weaknesses
Answer: C
Q3) Internal environmental factors are all under the firm's control.
A)True
B)False
Answer: TRUE
Page 5
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Chapter 4: Market Research Essentials
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) A disadvantage of online focus groups is that ________.
A) they require someone to transcribe the spoken words into a transcript
B) they provide data in a format that is usually difficult to read and analyze
C) participants can become distracted and environmental factors can affect their concentration
D) they create an environment where participants are required to focus on the questions
E) participants cannot respond from a remote location such as from home or workplace
Q2) While researching the possible impact of economic conditions on a proposed new product introduction on the Internet, you find an article in Bloomberg Business Week online that reviews how new products have fared during times of rising inflation. Which of the following sources of secondary data does this scenario exemplify?
A) market research organizations
B) general knowledge sites
C) government sources
D) focus groups
E) in-depth interviews
Q3) Briefly describe the six steps in the market research process.
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6
Chapter 5: CRM, Big Data, and Marketing Analytics
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2501
Sample Questions
Q1) When a customer willingly gives a company sensitive information, such as a social security number, the company is not responsible for the security of this information.
A)True
B)False
Q2) ________ relates to the reliability and validity of the data.
A) Volume
B) Velocity
C) Variety
D) Veracity
E) Value
Q3) ________ data refers to data that is generated in such a way that a logical organization is imposed on it during its generation, thus enabling it to be more readily analyzable for knowledge creation.
A) Big
B) Abstract
C) Structured
D) Unstructured
E) Concrete
Q4) Describe the four elements of the CRM process cycle.
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Chapter 6: Understand Consumer and Business Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Berta maintains a blog on cooking on which she shares recipes, product recommendations, and shopping tips. She has 300,000 followers and she regularly answers questions from them about cooking and where to find her favorite kitchen tools. Berta would be considered a market maven.
A)True
B)False
Q2) The relationship between consumer demand for products and demand for B2B products is known as ________ demand.
A) psychographic
B) fluctuating
C) derived
D) latent
E) inelastic
Q3) The NAICS defines 300 major business sectors that cover all of North America.
A)True
B)False
Q4) Values, morals, and beliefs are all part of one's culture.
A)True
B)False
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Chapter 7: Segmentation, Target Marketing, and Positioning
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90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/2503
Sample Questions
Q1) Demographic segmentation is best described as using characteristics of ________ to segment the market.
A) human populations
B) geography
C) economics
D) political stability
E) government regulations
Q2) The razor is an example of a product that appeals to both men and women, but companies figured out that ________.
A) the same product class cannot be used to attack different gender markets
B) grooming equipment may be needed by men but certainly not by women
C) there are different needs and wants for the same product category among different genders
D) markets should not be segmented based on gender
E) all products are clearly marketed for the primary consumption of both men and women
Q3) What are perceptual maps? How are they used to reposition a product?
Q4) The largest generation is the Silent Generation.
A)True
B)False
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Chapter 8: Product Strategy and New Product Development
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2504
Sample Questions
Q1) Among the five groups of adopters, laggards are people who ________.
A) enjoy being the first to try and master a new product
B) put off purchasing until there is no other option
C) are price-sensitive and look for simplified products
D) seek out new products consistent with their personal self-image
E) are willing to pay the premium price for a product
Q2) The business case analysis is an overall evaluation of a product and usually assesses the product's probability of success.
A)True
B)False
Q3) In the context of criteria used to prioritize product ideas, time to market refers to the time taken to ________.
A) create awareness about a product among new market segments
B) generate product ideas using internal forces
C) develop and get the product to market
D) get the product through the introduction stage to the growth stage
E) analyze market conditions to forecast sales
Q4) Explain the difference between a product line and a product mix, Give an example of each.
Page 10
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Chapter 9: Build the Brand
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Mercedes-Benz offers a lifetime roadside assistance warranty on all of its vehicles, which shows that Mercedes is committed to customer service. This is an example of the ability of a warranty to ________.
A) provide a cost to customers
B) provide a service to customers
C) convey a message to customers
D) build brand awareness
E) build brand identity
Q2) Warranties that offer explicit product performance promises related to components of the product are known as ________ warranties.
A) specific
B) basic
C) inclusive
D) additional
E) unlimited
Q3) A key advantage of a brand sponsor is that loyalty is transferred from the well-known sponsor brand to the less-known brand.
A)True
B)False
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Page 11
Chapter 10: Service as the Core Offering
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) A service-centered perspective is very consistent with a customer-centric approach in which people, processes, systems, and other resources are to be aligned to best serve customers.
A)True
B)False
Q2) When a customer cannot make a reasonable evaluation of the quality of a service even after use because they lack expertise, this relates to a service's ________ attributes.
A) secondary
B) credence
C) search
D) focused
E) observable
Q3) Customer trial is one way to overcome the problem of marketing an intangible service.
A)True
B)False
Q4) A fundamental rule in marketing is to set high customer expectations.
A)True
B)False
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Chapter 11: Manage Pricing Decisions
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) Dyani runs Cute Cakes, a gourmet cupcake bakery. To set prices for her cupcakes, Dyani looks at the cost of making each cupcake and then adds an additional amount on top of that to arrive at her price. Dyani is using ________.
A) cost-plus pricing
B) high/low pricing
C) markup on sales price
D) average-cost pricing
E) target return pricing
Q2) Define and discuss the pros and cons of three of the following pricing strategies: penetration pricing, price skimming, target return on investment (ROI) pricing, competitor-based pricing, and value pricing.
Q3) Firms and brands that continually attempt to operate in the high-price/low-benefits environment do not survive over the long run as customer trust is damaged.
A)True
B)False
Q4) Define the four types of channel discounts and provide an example of each.
Q5) Explain the tactic of product line pricing and provide three examples of this strategy in the marketplace today.
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Chapter 12: Manage Marketing Channels, Logistics, and Supply Chain
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Define channel power and explain how it can lead to channel conflict. How does it affect vertical marketing systems?
Q2) The lead player in an administered VMS is called the channel captain.
A)True
B)False
Q3) Which of the following has no intermediaries and operates strictly from producer to end-user consumer or business user?
A) exclusive distribution
B) physical distribution
C) virtual network
D) direct channel
E) indirect channel
Q4) Describe three of the legal issues in supply chain management.
Q5) A vertical marketing system (VMS) consists of vertically aligned networks behaving and performing as a unified system. Explain the three different ways they can be set up.
Q6) Define disintermediation, and explain why it's common in the electronic channel.
Q7) Name the three different types of logistics and explain why they are important for businesses.
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Chapter 13: Promotion Essentials: Digital and Social Media Marketing
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2509
Sample Questions
Q1) In a push strategy, the focus is on ________.
A) end users
B) members of the channel who are targeted for promotion
C) members who typically rely on advertising
D) end users who drive the distribution of the new product
E) stimulating demand for an offering directly from the end user
Q2) The order of the steps in the AIDA model is not important as long as the effort has the desired outcome.
A)True
B)False
Q3) The first step a manager should take in the promotion strategy process is to ________.
A) identify targets for promotion
B) select a promotion mix
C) develop a message
D) prepare a budget
E) establish measures of results
Q4) What are the five key elements that make up the promotional mix? Describe each one.
Q5) Describe the AIDA model of promotion. Include a description of each step.
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Chapter 14: Promotion Essentials: Legacy Approaches
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) What are the six stages of the personal selling process?
Q2) Apple products appeared in many films in 2016 and 2017. This demonstrates how Apple is usingĀ ________ as a sales promotion approach.
A) product placements
B) premiums
C) loyalty programs
D) point-of-purchase materials
E) multiple-purchase offers
Q3) Which advertising media offers the advantage of high audience selectivity?
A) online and social media
B) radio
C) direct mail
D) newspaper
E) television
Q4) ________ is the last stage of the personal selling process.
A) Prospecting for customers
B) Handling customer objections
C) Following up with customers
D) Qualifying prospects
E) Opening the relationships
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