Contemporary Issues in Marketing
Mock Exam
Course Introduction
Contemporary Issues in Marketing explores the dynamic landscape of modern marketing practices and the challenges faced by brands in today's globalized and digitalized world. The course examines key topics such as consumer privacy, ethical marketing, social media strategies, cultural diversity, sustainability, and the impact of emerging technologies like artificial intelligence and big data on marketing decisions. Through real-world case studies and critical discussions, students gain insight into how marketers respond to evolving consumer expectations, regulatory environments, and societal trends, preparing them to navigate and influence the future of the marketing industry.
Recommended Textbook
Marketing Strategy 5th Edition by O.
C. Ferrell
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12 Chapters
296 Verified Questions
296 Flashcards
Source URL: https://quizplus.com/study-set/1090
Page 2
Chapter 1: Marketing in Todays Economy
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25 Verified Questions
25 Flashcards
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Sample Questions
Q1) In the airline industry, companies like American, Delta, and United have a difficult time competing because their industry has become commoditized. What does this mean for firms in the airline industry?
A) Airline firms compete in a declining industry.
B) Airline customers have become increasingly demanding.
C) There is very little differentiation among product offerings in the industry.
D) The industry experiences very little change over time.
E) Airlines have been forced to develop partnerships to remain competitive.
Answer: C
Q2) Marketers who offer supplemental services such as financing, home delivery, or installation do so in an effort to increase what type of utility?
A) time utility
B) place utility
C) possession utility
D) form utility
E) psychological utility
Answer: C
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Page 3
Chapter 2: Strategic Marketing Planning
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25 Verified Questions
25 Flashcards
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Sample Questions
Q1) While all marketing plans face a number of obstacles in development and implementation, _____ is by far the most commonly occurring obstacle across most firms.
A) failure to see the whole picture
B) inadequate information
C) resistance to change
D) lack of time for planning
E) inadequate communication
Answer: E
Q2) Which of the following IS NOT a purpose of a marketing plan?
A) It explains the present and future situations of the organization.
B) It specifies the expected outcomes of the plan.
C) It describes specific actions that are to take place.
D) It explains how marketing activities mesh with other functional areas.
E) It identifies resources needed to carry out the plan.
Answer: D
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Chapter 3: Marketing Ethics and Social Responsibility in Strategic Planning
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22 Verified Questions
22 Flashcards
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Sample Questions
Q1) _____ is a broad concept that relates to an organization's obligation to maximize its positive impact on society while minimizing its negative impact.
A) Marketing ethics
B) Corporate philanthropy
C) Social responsibility
D) Strategic philanthropy
E) Social engineering
Answer: B
Q2) To ensure that ethics and social responsibility are thoroughly incorporated into the firm's strategic planning process, the firm's _____ should never be silent about ethical requirements and social responsibility.
A) marketing plan
B) code of conduct
C) leadership team
D) culture
E) training materials
Answer: A
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Page 5
Chapter 4: Collecting and Analyzing Marketing Information
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25 Flashcards
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Sample Questions
Q1) Identify and explain each element of the 5W model for customer analysis. What role does this analysis play in an overall situation analysis?
Q2) Although internal data sources have a number of advantages, one of their biggest problems is:
A) There are rarely enough internal data.
B) Internal data are often not relevant to the marketing issue at hand.
C) Internal data are expensive to collect.
D) Internal data are often in a form that is not readily accessible.
E) Internal data are typically biased.
Q3) Discuss the role of corporate affairs in the analysis of the external environment. What types of activities are conducted by corporate affairs specialists?
Q4) As a form of _____ competition, bicycles can solve the same basic need as automobiles, albeit with a very different product.
A) regular
B) generic
C) brand
D) total budget
E) product
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6
Chapter 5: Developing Competitive Advantage and Strategic Focus
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24 Verified Questions
24 Flashcards
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Sample Questions
Q1) As a tool of Blue Ocean Strategy, the strategy canvas provides a way to visualize the firm's strategy relative to other firms in the industry. The central portion of the strategy canvas is the _____, or the graphic representation of the firm's relative performance across its industry's factors.
A) value curve
B) strategy line
C) strategic focus
D) divergence curve
E) action diagram
Q2) Identify and explain the major characteristics of marketing objectives.
Q3) Discuss the role of the strategy canvas and the four-actions framework in establishing a strategic focus for the firm's marketing strategy. Why are these approaches invaluable in today's highly competitive environment?
Q4) In terms of SWOT analysis, when does a strength become a capability of the firm?
A) when the strength can be tied to satisfying a customer need
B) when the strength cannot be copied by competitors
C) when the strength stands alone without any corresponding weaknesses
D) when the strength can be connected to a second strength
E) when the strength can be supported by sufficient resources
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Chapter 6: Customers, Segmentation, and Target Marketing
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25 Flashcards
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Sample Questions
Q1) _____ segmentation is the most powerful form of segmentation in consumer markets because it uses actual product usage to make distinctions among market segments.
A) Demographic
B) Behavioral
C) Psychographic
D) Lifestyle
E) Geographic
Q2) Identify and discuss the various traditional market segmentation strategies. Include in your answer a discussion of the relative advantages and disadvantages of each strategy.
Q3) What type of segmentation divides consumer markets into segments using individual factors such as gender, age, income, and education?
A) psychographic segmentation
B) demographic segmentation
C) benefit segmentation
D) behavioral segmentation
E) lifestyle segmentation
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Chapter 7: Product Strategy
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Sample Questions
Q1) Which stage of the product life cycle has 1) establishing a strong, defensible market position and 2) achieving financial objectives that repay investment as its main priorities?
A) Introduction
B) Growth
C) Maturity
D) Development
E) Decline
Q2) Firms using the _____ approach during the decline stage of the product life cycle will gradually reduce marketing expenditures and use a less resource-intensive marketing mix.
A) divesting
B) harvesting
C) repositioning
D) life extending
E) balanced
Q3) Discuss the benefits associated with offering a large portfolio of products. What are some of the key issues involved in managing the product portfolio?
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Chapter 8: Pricing Strategy
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25 Flashcards
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Sample Questions
Q1) What is the basic difference between the seller's and the buyer's perspectives on pricing?
A) Buyers see pricing as negotiable; sellers do not.
B) Buyers are very concerned about price elasticity; sellers are not.
C) Sellers tend to inflate prices; buyers tend to see prices as being lower.
D) Buyers are quite concerned about competitors' prices; sellers are not.
E) Buyers tend to inflate prices; sellers tend to see prices as being lower.
Q2) Explain how competition and industry structure are related to pricing strategy. In your answer, identify the four basic competitive market structures and how pricing differs across each one.
Q3) Price elasticity is defined as:
A) a situation where prices routinely move up and down in a short period of time.
B) customers' responsiveness or sensitivity to changes in price.
C) the impact on a product's demand when customers are in unique buying situations.
D) the relative ease with which prices can be changed.
E) price flexibility-a pricing strategy used by startup firms.
Q4) Identify and discuss reasons why firms become so infatuated with pricing.
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Chapter 9: Distribution and Supply Chain Management
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25 Flashcards
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Sample Questions
Q1) In the Mercedes dealer network, individual dealers are given the sole right to sell Mercedes vehicles within a defined geographic area. What type of distribution does Mercedes employ?
A) exclusive distribution
B) intensive distribution
C) selective distribution
D) limited distribution
E) prestige-based distribution
Q2) Which member of the marketing channel has the primary responsibility of fulfilling the channel's main functions?
A) manufacturers
B) wholesalers
C) retailers
D) customers
E) It does not matter.
Q3) Discuss the growth and importance of outsourcing in today's economy. What are the driving factors or themes that lead firms to outsource business functions, including channel functions?
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11
Chapter 10: Integrated Marketing Communications
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25 Flashcards
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Sample Questions
Q1) _____ is paid personal communication that attempts to inform customers about products and persuade them to purchase those products.
A) Personal selling
B) Sales promotion
C) Publicity
D) Public relations
E) Advertising
Q2) Despite conventional thinking, _____ accounts for the bulk of promotional spending in many firms. This is especially true for firms selling consumer products in grocery stores and mass-merchandise retailers.
A) personal selling
B) advertising
C) public relations
D) sales promotion
E) publicity
Q3) Discuss the role of sales promotion in consumer markets. In your answer, identify several types of consumer sales promotion activities and how they might be used in an overall IMC program.
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Chapter 11: Marketing Implementation and Control
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25 Flashcards
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Sample Questions
Q1) Work activities that absorb inputs to create information and communication outputs that ensure the consistent day-to-day operation of the firm are referred to as:
A) organizational values
B) shared goals and values
C) organizational systems and processes
D) implementation and control
E) strategic systems
Q2) What type of marketing controls consists of unwritten, employee-based mechanisms that subtly affect the behaviors of employees, both as individuals and in groups?
A) input controls
B) informal controls
C) process controls
D) output controls
E) formal controls
Q3) Identify and discuss the four approaches to marketing implementation and explain the various advantages and disadvantages of each approach.
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Chapter 12: Developing and Maintaining Long Term
Customer Relationships
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25 Flashcards
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Sample Questions
Q1) Larger financial institutions now offer a wide range of services under one roof, from banking to stock trading. These institutions have moved away from increasing their market share to instead focus on increasing their:
A) share of market.
B) share of relationships.
C) share of customer.
D) relational share.
E) lifetime customer value.
Q2) There are two types of monetary costs involved in the purchase of any product: transactional costs and life-cycle costs. Which of the following best exemplifies a life-cycle cost in the purchase of an automobile?
A) the actual purchase price
B) state or local taxes
C) anticipated repair expenses
D) registration fees
E) title fees
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