Business to Business Marketing
Midterm Exam
Course Introduction
Business to Business Marketing explores the strategies, principles, and practices involved in marketing products and services to other businesses, governmental bodies, and institutions rather than individual consumers. The course examines the unique aspects of B2B markets, including the complex decision-making processes, relationship management, supply chain dynamics, and the use of digital tools for lead generation and account management. Students gain insights into market analysis, segmenting organizational buyers, crafting value propositions, and developing integrated marketing communications tailored to business clients. Practical case studies and real-world scenarios are used to illustrate how companies build long-term partnerships and create competitive advantages in dynamic B2B environments.
Recommended Textbook
Principles of Marketing 17th Edition by Philip T. Kotler
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Page 2
Chapter 1: Marketing: Creating Customer Value and Engagement
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152 Flashcards
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Sample Questions
Q1) According to management guru Peter Drucker, "The aim of marketing is to ________."
A) maximize profits of the company
B) emphasize customer wants and not customer needs
C) make selling unnecessary
D) fulfill unrealistic customer expectations
E) sell products
Answer: C
Q2) In the context of customer relationship groups, a potentially profitable and short-term customer is referred to as a ________.
A) true friend
B) butterfly
C) stranger
D) barnacle
E) market maven
Answer: B
Q3) When backed by buying power, needs become wants.
A)True
B)False
Answer: False
Page 3
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Chapter
Build Customer Engagement, Value, and Relationships
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Sample Questions
Q1) What factors determine the success of a company's value chain?
Answer: A company's value chain is only as strong as its weakest link. Success depends on how well each department performs its work of adding customer value and on how the company coordinates the activities of various departments.
Q2) Market segmentation can be best described as the process of ________.
A) assigning specific human attributes to a given brand
B) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs
C) evaluating each market segment's attractiveness and selecting one or more segments to enter
D) turning marketing plans into marketing actions to accomplish strategic marketing objectives
E) maintaining a strategic fit between organizational goals and changing marketing opportunities
Answer: B
Q3) What does market targeting involve?
Answer: Market targeting involves evaluating each market segment's attractiveness and selecting one or more segments to enter.
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Chapter 3: Analyzing the Marketing Environment
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Sample Questions
Q1) Micropolitan areas are ________.
A) likely to have a higher crime rate than metropolitan areas
B) less likely to attract telecommuters
C) likely to offer the same advantages as metropolitan areas
D) less likely to offer market expansion opportunities
E) generally unattractive to niche marketers
Answer: C
Q2) How can marketers reach the Millennials effectively?
Answer: Millenials engage with brands in an entirely new way, such as with mobile or social media. More than sales pitches from marketers, Millennials seek opportunities to shape their own brand experiences and share them with others. Many brands are now fielding specific products and marketing campaigns aimed at Millennial needs and lifestyles.
Q3) ________ markets buy goods and services for further processing.
A) Business
B) Reseller
C) Wholesale
D) Consumer
E) Retail
Answer: A
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Chapter 4: Managing Marketing Information to Gain Customer Insights
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Sample Questions
Q1) Observation is best suited for ________ research.
A) exploratory
B) constructive
C) experimental
D) descriptive
E) survey
Q2) The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company's different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n) ________.
A) enterprise planning system
B) product mix
C) strategic planning system
D) marketing information system
E) business portfolio
Q3) Briefly compare the different types of research approaches for gathering primary data.
Q4) What is the most common CRM mistake?
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Chapter 5: Consumer Markets and Buyer Behavior
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Sample Questions
Q1) While an individual's beliefs are difficult to change, an individual's attitudes are easy to change.
A)True
B)False
Q2) Individuals and households that buy or acquire goods and services for personal consumption make up the ________.
A) consumer market
B) market offering
C) market mix
D) subculture
E) social class
Q3) Which of the following product characteristics refers to the degree to which the innovation appears superior to existing products?
A) compatibility
B) divisibility
C) communicability
D) relative advantage
E) complexity
Q4) Define brand personality.
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Chapter 6: Business Markets and Business Buyer Behavior
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Sample Questions
Q1) Sage Hospitals, a nonprofit organization, provides healthcare to the people in the Midwest. Management at Sage is involved in the ________ market.
A) government
B) consumer
C) wholesale
D) institutional
E) resell
Q2) The management's directive to reduce the number of steel suppliers refers to the influence of ________ factors affecting the business buying behavior of Alpha.
A) political
B) organizational
C) interpersonal
D) individual
E) cultural
Q3) What is e-procurement? Briefly describe its major advantages.
Q4) What functions do buyers serve in a buying center?
Q5) Business demand ultimately derives from the demand for consumer goods. A)True
B)False
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Chapter 7: Customer Value-Driven Marketing Strategy:
Creating Value for Target Customers
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Sample Questions
Q1) ________ is the process by which firms interact one-to-one with masses of customers to design products and services tailor-made to individual needs.
A) Product diversification
B) Micromarketing
C) Mass customization
D) Differentiated marketing
E) Local marketing
Q2) Explain the different segmentation variables used in segmenting consumer markets.
Q3) Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal lower than other used cars. Which of the following value propositions is evident here?
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
Q4) How does loyalty status enhance a company's understanding of its consumers?
Q5) What is product position? What functions do perceptual positioning maps serve?
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Chapter 8: Products, Services, and Brands: Building Customer Value
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Sample Questions
Q1) If a consumer purchases a new flat-screen "smart" television, what is the augmented product involved?
A) connection to the world of entertainment
B) state-of the art technology
C) slick and attractive packaging
D) brand name
E) tech support and warranty
Q2) ________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.
A) Liabilities
B) Services
C) Brands
D) Consumer products
E) Specialty products
Q3) A product line consists of unrelated products that are sold to diverse customer groups.
A)True
B)False
Q4) Give examples of pure tangible goods.
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Chapter 9: Developing New Products and Managing the Product Life Cycle
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Sample Questions
Q1) Because of ________, a company cannot make its product illegally similar to a competitor's already established product.
A) anti-monopoly laws
B) patent laws
C) the Consumer Product Safety Act
D) product warranties
E) product liability
Q2) Manufacturers must comply with specific laws regarding ________.
A) profit margins
B) product quality and safety
C) product harvesting
D) distribution channel length
E) product life cycles
Q3) An attractive product idea must be developed into a ________.
A) concept alternative
B) product concept
C) brand personality
D) brand placement
E) product strategy
Q4) What factors are assessed in test marketing?
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Chapter 10: Pricing: Understanding and Capturing
Customer Value
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Sample Questions
Q1) Why is markup pricing most likely impractical?
A) Calculating costs is complicated due to fluctuations.
B) By tying the price to cost, sellers oversimplify pricing.
C) When all firms in the industry use this pricing method, prices tend to be similar.
D) The method ignores demand and competitor prices.
E) With a standard markup, consumers know when they are being overcharged.
Q2) Experience-curve pricing assumes that ________.
A) competitors are weak and not willing to match price cuts
B) competitors are strong and invincible
C) aggressive pricing adversely affects product image
D) volume-based production slows down organizational learning
E) lower-cost technologies are almost always inferior
Q3) ________ involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk.
A) Value-based pricing
B) Competition-based pricing
C) Cost-based pricing
D) Penetration pricing
E) Break-even pricing
Page 12
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Chapter 11: Pricing Strategies: Additional Considerations
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Sample Questions
Q1) When a manufacturer seeks a market for by-products and accepts a price that covers more than the cost of storing and delivering those by-products, the manufacturer is able to reduce the main product's price to make it more competitive.
A)True
B)False
Q2) La Belle released a cut glass bottle of perfume at $299 per item, even though its major competitor prices its signature scent at $99 per item. La Belle reasons that customers in search of luxury goods will prefer its product because they are likelier to believe that high price indicates superior quality. What price adjustment strategy is evident in its reasoning?
A) seasonal pricing
B) time-based pricing
C) captive product pricing
D) psychological pricing
E) location-based pricing
Q3) Sensenig Propeller manufactures replica antique wooden airplane propellers. In the process of production, the company generates a great deal of scrap hardwood. How can using by-product pricing benefit the company?
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Chapter 12: Marketing Channels: Delivering Customer Value
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Sample Questions
Q1) A non-corporate VMS integrates successive stages of production and distribution under single ownership.
A)True
B)False
Q2) Major logistics functions are logistics information management, inventory management, transportation, and ________.
A) advertising
B) product design
C) financial projections
D) warehousing
E) customer sales
Q3) When KFC came into conflict with its franchisees over the brand's Unthink KFC repositioning, which emphasized grilled chicken over its traditional Kentucky fried chicken, KFC experienced ________ conflict.
A) equilateral
B) horizontal
C) multitiered
D) communal
E) vertical
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Page 14
Chapter 13: Retailing and Wholesaling
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Sample Questions
Q1) The colors, layout, and music in a store or a product package are only minor aspects of the shopping experience and marketers spend little time making decisions about them.
A)True
B)False
Q2) The online and mobile equivalent of a pop-up store is ________.
A) door buster deals
B) Black Friday specials
C) high-low pricing
D) flash sales sites
E) everyday low pricing
Q3) At JCPenney, a mid-level department store, customers shop for moderately priced products and they are assisted in some phases of the shopping process. JCPenney is a ________.
A) full-service retailer
B) limited-service retailer
C) self-service retailer
D) specialty store
E) superstore
Q4) Describe the differences between chain stores and franchises.
Page 15
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Chapter 14: Engaging Consumers and Communicating
Customer Value: Integrated Marketing Communications Strategy
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Sample Questions
Q1) In the communication process, the reaction of the receiver after being exposed to a message is called the ________.
A) response
B) disturbance
C) noise
D) code
E) distortion
Q2) Delia's is a clothing retailer that targets teenage girls. The company runs coordinated promotions for its catalogs, Web site, and retail outlets. It uses the same models in its catalog, print ads, and Web site. Delia's works to make sure its public relations activities as well as its sales promotions harmonize with its advertising in all aspects. From this information, we can infer that Delia's is using ________.
A) buzz marketing
B) experiential marketing
C) integrated marketing communication
D) word-of-mouth marketing
E) database marketing
Q3) Why is the consumer's field of experience important to a marketer?
Page 16
Q4) When is it advisable to predominantly use sales promotions in a promotion mix?
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Chapter 15: Advertising and Public Relations
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Sample Questions
Q1) Modern Family and The Wall Street Journal are both examples of ________-specific media within each general media type.
A) alternative media
B) major media
C) media vehicles
D) media multitaskers
E) micromedia
Q2) In an attempt to set the company apart from its competitors, Central Parcel Service (CPS) has its employees wear brown uniforms and drive brown trucks. What type of public relations tool is being used by CPS?
A) buzz marketing
B) corporate logos
C) corporate identity materials
D) product publicity
E) public service materials
Q3) Advertising media costs and availability differ vastly from country to country.
A)True
B)False
Q4) Describe any three message execution styles.
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Chapter 16: Personal Selling and Sales Promotion
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Sample Questions
Q1) Which of the following is the last step in the selling process?
A) qualifying
B) handling objections
C) demonstration
D) follow-up
E) approach
Q2) ________ include displays and demonstrations that take place at the point of sale.
A) Rebates
B) Price packs
C) Premiums
D) POP promotions
E) Samples
Q3) Describe some of the methods used to supervise salespeople and help them work more efficiently.
Q4) The inside sales force consists of salespeople who conduct business from their offices via telephone, the Internet, or visits from buyers.
A)True
B)False
Q5) Why are more companies using team selling? What are its pros and cons?
Page 18
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Chapter 17: Direct, Online, Social Media, and Mobile Marketing
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Sample Questions
Q1) Compare and contrast the purpose and content of a branded community Web site to that of a marketing Web site.
Q2) What are the characteristics of a successful Web site?
Q3) Which of the following is a type of identity theft that uses deceptive e-mails and fraudulent Web sites to fool consumers into revealing their personal data?
A) bait-and-switch
B) cyber spying
C) viral marketing
D) phishing
E) spam
Q4) Even large companies use infomercials for all the following reasons EXCEPT to
A) recruit members
B) refer customers to retailers
C) attract buyers to online, mobile, and social media sites
D) introduce new advertising campaigns
E) sell their products
Q5) Explain how a company benefits from monitoring the blogosphere.
Q6) What are the strengths and weaknesses of e-mail marketing?
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Chapter 18: Creating Competitive Advantage
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Sample Questions
Q1) A market research firm conducts a survey of soft-drink consumers to assess Pepsi's and Coke's strengths and weaknesses in attributes valued by both company's target customers. The market research firm is using a ________.
A) customer lifetime value estimation
B) global marketing strategy
C) competitive marketing strategy
D) customer value analysis
E) blue ocean strategy
Q2) Essential-Beauty e-mailed a survey to a group of its most frequent, loyal customers. The survey asked what makeup and skin care characteristics were most important to them. The company's marketing staff then ranked the performance of Essential-Beauty products in each of these categories. Essentials was conducting a(n) ________.
A) customer lifetime value survey
B) entrepreneurial marketing strategy
C) intrepreneurial marketing strategy
D) customer value proposition
E) customer value analysis
Q3) What is the purpose of benchmarking?
Q4) Discuss the functions and goals of a competitive intelligence system.
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Chapter 19: The Global Marketplace
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Sample Questions
Q1) Which of the following is a sociocultural factor that a company should consider before deciding to enter into a new country?
A) political stability
B) population density (urban vs. rural)
C) education
D) income distribution
E) consumer lifestyles, beliefs, and values
Q2) Since the global company sees the world as one market, it raises capital, obtains components and materials, and manufactures and markets its goods ________.
A) at home
B) in the lowest-cost country near where each product will be sold
C) in each country in which it does business
D) in the lowest-cost country on each continent
E) wherever it can do the best job
Q3) In 1994, the North American Free Trade Agreement (NAFTA) established a free trade zone among the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.
A)True
B)False
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Chapter 20: Sustainable Marketing: Social Responsibility and Ethics
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Sample Questions
Q1) On a deeper level, our wants and values are influenced not only by marketers but also by family, peer groups, religion, cultural background, and education.
A)True
B)False
Q2) Discuss the ways in which critics accuse marketing of harming the consumer.
Q3) The Wii system, developed by Nintendo, with its intuitive motion-sensitive controller and interactive games, appealed not only to teen boys but also to their sisters, moms, dads, and even grandparents. This is a successful example of ________ marketing.
A) consumer-oriented
B) innovative
C) customer-value
D) societal
E) sense-of-mission
Q4) Compare and contrast the four types of products in the societal classification of products. Provide examples of each.
Q5) How do marketers respond to critics' accusations of planned obsolescence?
Q6) Explain the practice of redlining and why it is criticized.
Q7) Why are critics concerned about companies acquiring competitors?
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