Business Marketing Review Questions
Course Introduction
Business Marketing focuses on the strategies, principles, and tools used by organizations to market their products and services to other businesses rather than individual consumers. This course covers topics such as understanding organizational buying behavior, building and managing business-to-business relationships, segmenting markets, and formulating effective marketing strategies for industrial goods and services. Students will explore key concepts like supply chain management, value creation, and digital marketing trends in the B2B context, enabling them to analyze and apply approaches to real-world business marketing challenges.
Recommended Textbook Marketing 11th Edition by Charles W. Lamb
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21 Chapters
3517 Verified Questions
3517 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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141 Verified Questions
141 Flashcards
Source URL: https://quizplus.com/quiz/5836
Sample Questions
Q1) Kellogg's is offering free DVDs to consumers who collect 5 official Collection certificates from the back panels of specially marked packages of Kellogg's cereals and mail them with the official order form.Within 90 days,these consumers will receive the movie of their choice.A(n)_____ will occur when a movie fan mails in his or her certificates for a movie.
A) synergy
B) sublimation
C) exchange
D) entropy
E) reciprocity
Answer: C
Q2) For an exchange to take place:
A) there must be at least two parties involved
B) money must be used in the transaction
C) each party must feel obligated to accept the offer
D) at least one party must have something of value that the other party desires
E) neither party must communicate with the other
Answer: A
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Chapter 2: Strategic Planning for Competitive Advantage
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174 Verified Questions
174 Flashcards
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Sample Questions
Q1) Apple Inc.is now offering the iPhone 3G for half its original price.This new strategy reflects a change in the _____ element of its marketing mix.
A) price
B) production
C) product
D) distribution
E) target market
Answer: A
Q2) Apple's iPhone can only be purchased through AT&T cell phone distributors and the Apple retail store.This limitation on the _____ element of its marketing mix supports the product's competitive advantage.
A) planning
B) product
C) promotion
D) distribution
E) production
Answer: D
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Page 4
Chapter 3: Ethics & Social Responsibility
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118 Verified Questions
118 Flashcards
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Sample Questions
Q1) Refer to Florida Hospitals.When one administrator said,"We got into medicine to help people and these illegals without insurance need our help as much as anyone else does," he was expressing his opinion in accordance with the _____ ethical theory.
A) act utilitarianism
B) casuist
C) role utilitarianism
D) moral relativity
E) deontological
Answer: E
Q2) Everyone agrees that cause-related marketing is beneficial.
A)True
B)False
Answer: False
Q3) The most basic argument for social responsibility is that it is simply the right thing to do.
A)True
B)False
Answer: True
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Chapter 4: The Marketing Environment
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) Which type of research is also called pure research and attempts to expand the frontiers of knowledge but is not aimed at a specific,pragmatic problem?
A) applied
B) basic
C) primary
D) secondary
E) synergistic
Q2) If you were to ask Americans what they most desire to make their lives easier,most will want more time.This feeling that there are not enough hours in a day is an example of a(n)_____ factor that has strongly influenced the marketing environment.
A) social B) economic
C) legal
D) demographic
E) component lifestyle
Q3) There are several federal laws that affect marketing regarding the competitive environment,pricing practices,and false advertising. Name and briefly describe three of these federal laws.
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Chapter 5: Developing a Global Vision
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160 Verified Questions
160 Flashcards
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Sample Questions
Q1) Disney sells the rights for an investment company to run a Disneyland theme park in Tokyo.The investment company gains most of the profits from the enterprise while paying Disney a percentage in royalties.This is an example of:
A) a joint venture
B) exporting
C) direct investment
D) licensing
E) capital-intensive manufacturing
Q2) The _____ is the most ambitious global trade agreement ever negotiated; the agreement has reduced tariffs by one-third worldwide.
A) Uruguay Round
B) Mercosur
C) GATT
D) NAFTA
E) Maastricht Treaty
Q3) Explain the following statement: "The Internet economy is being restrained by the old bricks-and-mortar rules,regulations,and habits."
Q4) Why is developing a global vision important for firms in the United States?
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Chapter 6: Consumer Decision Making
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180 Verified Questions
180 Flashcards
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Sample Questions
Q1) 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
Q2) Refer to College Decision. The direct mail pieces with scholarship information that schools are sending to Juan are examples of which type of information sources?
A) marketing-controlled
B) nonmarketing-controlled
C) service-oriented
D) internal
E) selective
Q3) A stimulus is a unit of input from either an external or internal source that can affect sight,smell,taste,touch,or hearing
A)True
B)False
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8
Chapter 7: Business Marketing
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196 Verified Questions
196 Flashcards
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Sample Questions
Q1) Farmer Pat Stein provides local restaurants with organic fruits and vegetables that have been grown without the use of pesticides or chemical fertilizers.Pat Stein is a supplier of:
A) accessory parts
B) supplies
C) raw materials
D) unprocessed extractive products
E) processed materials
Q2) Consumable items that do not become part of the final product are called supplies.
A)True
B)False
Q3) The government sector (federal,state and local)is a minor segment of the business market
A)True
B)False
Q4) Business buyers use a variety of criteria to evaluate alternative products and suppliers.Name and define specific aspects of the three most important criteria.
Q5) Why is customer service an important factor in business marketing?
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Chapter 8: Segmenting and Targeting Markets
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208 Verified Questions
208 Flashcards
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Sample Questions
Q1) The purpose of market segmentation is to:
A) reduce the market down to a specific size that the firm can handle
B) divide the market into equal size and profit regions for sales territories
C) group a large number of markets together enabling a company to serve them simultaneously
D) develop a generalized definition of the market as a whole
E) enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups
Q2) Land's End offers customers the option of having jeans and other types of pants made to fit them according to their waist,hip,and leg length measurements.This is an example of:
A) an application of the 80/20 rule
B) firewall marketing
C) one-to-one marketing
D) transformational marketing
E) data mining
Q3) Explain what is meant by positioning and describe the bases marketers use to position products and services.
Q4) What is product differentiation and how can it be achieved?
Q5) Name the four broad segments of the business market.
Page 10
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Chapter 9: Decision Support Systems and Marketing Research
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202 Verified Questions
202 Flashcards
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Sample Questions
Q1) The best experiments are those in which one factor is held constant and the other factors of interest are deliberately manipulated.
A)True
B)False
Q2) Which type of survey question is a closed-ended question designed to measure the intensity of a respondent's answer?
A) semantic differential
B) scaled-response question
C) interval-based question
D) sampling frame question
E) bounded-frame question
Q3) The first step in the marketing research process is to:
A) specify the sampling plan
B) collect the data
C) analyze the marketplace
D) plan the research design
E) identify and formulate the problem/opportunity to be studied
Q4) Describe survey research and explain how it differs from observation research. Name six popular forms of survey research.
Page 11
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Chapter 10: Product Concepts
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174 Verified Questions
174 Flashcards
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Sample Questions
Q1) There are so many high-definition television sets on the market,and they vary so much on price,quality,and features that consumers often have trouble comparing them. A high-definition TV would probably be considered a _____ product.
A) convenience
B) specialty
C) heterogeneous shopping good
D) homogeneous shopping good
E) generic
Q2) Brand loyalty can:
A) increase product diffusion
B) encourage competition
C) shorten the amount of time a product spends in the maturity stage
D) help ensure repeat sales
E) sell a bad product
Q3) Sam likes Michelin tires.If he needs new tires and Michelin's are not on sale,he is willing to pay a higher price for Michelin rather than buy some other brand.Sam is brand loyal to Michelin.
A)True
B)False
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Page 12
Chapter 11: Developing and Managing Products
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172 Verified Questions
172 Flashcards
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Sample Questions
Q1) A firm's new-product strategy links the new-product development process with the objectives of the marketing departments,the business unit,and the corporation.
A)True
B)False
Q2) The main goal of the global product development process is to:
A) come up with a single standard product or product line suitable for all global markets
B) expand the number of different new-product offerings so that individual country needs are more likely to be met
C) develop every product for potential worldwide distribution and adaptation to other countries
D) come up with new-product ideas in the United States and use global markets as test markets
E) repeat the steps in the process with marketing teams in each and every foreign country targeted
Q3) Describe the idea screening stage of the new-product development process.Describe a common test used during the screening stage.
Q4) List the seven steps of the new-product development process.
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Chapter 12: Services and Nonprofit Organization Marketing
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167 Verified Questions
167 Flashcards
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Sample Questions
Q1) Insurance companies are examples of service organizations.
A)True
B)False
Q2) Relationship marketing can be practiced at three levels,each level adding a new kind of bond with the customer.Name and describe each of these levels,using a legal service to illustrate each level.
Q3) A nonprofit organization is an organization that exists to achieve some goal other than the usual business goals of profit,market share,or return on investment.
A)True
B)False
Q4) David and Kathy are trying to decide where to go on vacation.David has suggested a cruise.Since neither of them have been on a cruise before,they will be unable to assess the _____ of a cruise until they actually take the vacation.
A) tangible attribute
B) experience quality
C) creative quality
D) credence quality
E) heterogeneity feature
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Chapter 13: Marketing Channels
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) YKK slide fasteners (zippers)are made in Macon,Georgia,yet manufactures all over the world use zippers to manufacture,clothes,luggage,shoes,and other items.Wholesalers around the world primarily help to overcome a(n)_____ discrepancy.
A) creation
B) temporal
C) assortment
D) spatial
E) ownership
Q2) Kraft Foods produces millions of packages of Chips Ahoy cookies each year,but consumers only want to purchase one package at a time. This difference between the amount Kraft produces and the amount a consumer wants to buy is refer to as a:
A) discrepancy of quantity
B) discrepancy of assortment
C) spatial discrepancy
D) temporal discrepancy
E) discrepancy of possession
Q3) Define channel power,channel control,channel leadership,and channel partnering and explain how these four terms are related.
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Page 15
Chapter 14: Supply Chain Management
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147 Verified Questions
147 Flashcards
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Sample Questions
Q1) All of the following activity groups are related closely to internal operations integration success EXCEPT:
A) the use of cross-functional teams
B) activity-based costing
C) standardization of work processes across work groups
D) simplification of all work processes as much as possible
E) a reconfiguration of the physical assets the company owns
Q2) Three dimensions of supply chain networks are commonly considered by supply chain managers.They are the horizontal structure,the vertical structure,and the:
A) integrated structure
B) matrix structure
C) functional position of the firm
D) horizontal position
E) hierarchical structure
Q3) Products and marketplaces differ substantially in their core characteristics so supply chain management strategies should be selected according to the situation at hand.
A)True
B)False
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Chapter 15: Retailing
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166 Verified Questions
166 Flashcards
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Sample Questions
Q1) Which form of franchising involves a dealer agreeing to sell certain products provided by a manufacturer or a wholesaler?
A) primary franchising
B) product and trade name franchising
C) business format franchising
D) limited franchising
E) focused franchising
Q2) A store's atmosphere is the overall impression conveyed by a store's physical layout,decor,and surroundings.
A)True
B)False
Q3) Which type of retail ownership is owned and operated by an individual but is licensed by a larger supporting organization?
A) independent retailer
B) chain store
C) franchise
D) cooperative
E) secondary retailer
Q4) Discuss three new developments in retailing.
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Chapter 16: Promotional Planning for Competitive Advantage
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159 Verified Questions
159 Flashcards
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Sample Questions
Q1) Refer to I'm a Mac.In attempting to get consumers to ask the retailer for this product,Apple Inc.is using a _____ promotional strategy:
A) push
B) pull C) kinetic
D) publicity
E) reinforcement
Q2) Refer to I'm a Mac.The promotional campaign in which Apple tells consumers about the features and benefits of the Mac is attempting to achieve which goal of promotion? A) rewarding B) persuading C) informing D) influencing E) reminding
Q3) Corporate blogs are those monitored by major search engines such as Google and Yahoo!
A)True B)False
Q4) Define promotion and discuss its role in a company's marketing mix.
Page 18
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Chapter 17: Advertising and Public Relations
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186 Verified Questions
186 Flashcards
Source URL: https://quizplus.com/quiz/5852
Sample Questions
Q1) Kraft's marketing efforts for its Macaroni & Cheese include television commercial and magazine inserts.These activities are all activities associated with:
A) advertising
B) publicity
C) public relations
D) sales promotions
E) direct marketing
Q2) The manufacturer of the George Forman grill has produced a 30-minute sales pitch in the form of a talk and demonstration show to be aired on local cable TV channels.This is an example of an infomercial.
A)True
B)False
Q3) A national chain of restaurants was accused of discriminating against African American customers. As the director of public relations for this chain,describe the public relations tool you would use to counter this negative publicity.
Q4) Name and briefly define three forms of product advertising.
Q5) List and briefly describe five of the many functions commonly performed by public relations departments.
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Chapter 18: Sales Promotion and Personal Selling
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179 Verified Questions
179 Flashcards
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Sample Questions
Q1) Consultative selling:
A) uses limited sales planning
B) uses a "lone wolf" approach to selling
C) sells advice, assistance, and counsel rather than products
D) uses short-term follow-ups, which focus on product delivery
E) emphasizes closing the sale during the sales presentation
Q2) The use of trade shows,conventions,and conferences to contact customers:
A) has been decreasing in recent years
B) costs much less per potential customer than personal sales calls
C) is most effective for mature products
D) is usually directed toward the consumer goods market
E) has a disadvantage in that it is usually impossible to display the product itself
Q3) One of the best methods for creating and rewarding brand loyalty among consumers who might otherwise switch to competing brands is a:
A) directed coupon mailing
B) sweepstakes
C) loyalty marketing program
D) trade sales promotions
E) sampling program
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Page 20
Chapter 19: Pricing Concepts
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179 Verified Questions
179 Flashcards
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Sample Questions
Q1) Refer to Specialty Cakes.Although many factors determine the prices charged by Cecilia Villaveces Cakes,the two primary determinants are:
A) costs of manufacturing and distribution costs
B) stage of the product life cycle and costs to the consumers
C) the demand for the good and cost to the seller
D) demand by the consumer and perceived quality
E) distribution and promotion strategies used by the cake maker
Q2) Mitch owns a pet boarding kennel.The monthly payment on the land he purchased for his kennel,the mortgage on his small office building,and his business license are all examples of _____ costs.
A) marginal
B) variable
C) fixed
D) promotional
E) demand
Q3) Price is defined as the perceived value of a good or service that is exchanged for a certain dollar amount.
A)True
B)False
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Page 21
Chapter 20: Setting the Right Price
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183 Verified Questions
183 Flashcards
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Sample
Questions
Q1) Acme Lawnmowers sells its mowers to retailers at different prices,depending on whether they are independent stores or members of a national chain.It uses _____.
A) unfair trade practices
B) price fixing
C) price discrimination
D) predatory pricing
E) bait pricing
Q2) The tactic that allows different customers to pay different prices for essentially the same merchandise bought in equal quantities is called _____.This tactic is often found in the sale of shopping goods,specialty merchandise,and most industrial goods except supply items.
A) zoning (or basing) pricing
B) illegal price fixing
C) price maintenance
D) psychological (or odd-even) pricing
E) flexible (or variable) pricing
Q3) How do value-based pricing,unbundling,and bundling help marketers hold onto market share during a recession?
Q4) List in order the four steps used to set the right price for a product.
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Chapter 21: Customer Relationship Management (CRM)
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139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/5856
Sample Questions
Q1) Outdoor gear retailer Recreational Equipment,Inc.(REI)in Washington collects a vast amount of data through its Web site,direct mailings,and retail stores.When REI considers new store locations,it examines order data to find places with high concentrations of customers buying online and through the company's catalogs.REI would be using _____ to identify potential store locations.
A) information formatting
B) database enhancement
C) data mining
D) data shading
E) customer prediction
Q2) A basic assumption in any lifetime value calculation is that marketing to repeat customers is more profitable than marketing to first-time buyers.
A)True
B)False
Q3) Distinguish between a compiled list and a response list. Which is most valuable to marketers?
Q4) Compare and contrast a data warehouse and a database.
Q5) What is knowledge management? What type of companies use knowledge management?
Page 23
Q6) Briefly describe five of the many common CRM marketing database applications.
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