Contemporary Marketing Exam Materials
Course Introduction
Contemporary Marketing explores the dynamic and evolving landscape of marketing in the modern world, focusing on current theories, tools, and strategies employed by organizations to create value and maintain competitiveness. Students will examine topics such as digital marketing, consumer behavior, branding, social media, marketing analytics, global marketing trends, and ethical considerations. The course emphasizes practical application through case studies, real-world projects, and interactive discussions, preparing students to navigate and shape contemporary markets effectively.
Recommended Textbook
MKTG 11th Edition by Charles W. Lamb
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19 Chapters
1236 Verified Questions
1236 Flashcards
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Chapter 1: An Overview of Marketing
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Sample Questions
Q1) In the context of on-demand marketing, which of the following statements is true of a sales-oriented firm?
A)It carefully identifies market segments.
B)It extensively uses relationship marketing strategies.
C)It extensively uses personal selling and advertising.
D)It increases sales by creating customer value and satisfaction.
Answer: C
Q2) Which of the following statements is true of production-oriented firms?
A)They do not focus on their internal capabilities.
B)They do not understand the needs and wants of the marketplace.
C)They focus on their customers and have quick cycle times.
D)They determine what products their customers want and then produce them.
Answer: B
Q3) Which of the following statements is true of marketing?
A)It is more of a philosophy than an organizational function.
B)It is focused solely on selling goods, services, and ideas.
C)It rewards the seller and not the buyer of a transaction.
D)It focuses on delivering value and benefits to customers.
Answer: D
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Page 3
Chapter 2: Strategic Planning for Competitive Advantage
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) RegiSure is a strategic business unit that shows low growth but has a dominant market share. Since it has a dominant market share, it must be additionally financed despite its low growth.
A)True
B)False
Answer: False
Q2) Nessca Inc. is a pharmaceutical company. It follows a target market strategy because its products are designed to suit the needs of a group of people with similar characteristics. In this case, which of the following market segments can be targeted by Nessca Inc.?
A)A group of individuals who are diabetic
B)A group of individuals who work in the same organization
C)A group of individuals who are working professionals
D)A group of individuals who reside in the same residential area
Answer: A
Q3) A business mission does not affect a firm's long-run resource allocation, profitability, and survival.
A)True
B)False
Answer: False
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Chapter 3: Ethics and Social Responsibility
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60 Flashcards
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Sample Questions
Q1) Hallie has a tendency to be egocentric. She follows the rules of her company mainly to avoid punishment and to gain respect. When making decisions, she always focuses on what immediate benefits she will gain from an alternative. Which of the following levels of ethical development is illustrated by Hallie?
A)Preconventional morality
B)Postconventional morality
C)Conventional morality
D)Ethnocentric morality
Answer: A
Q2) Which of the following statements is a feature of the Foreign Corrupt Practices Act (FCPA)?
A)It prohibits U.S.corporations from involving in international business dealings.
B)It prohibits U.S.corporations from making illegal payments to foreign governments.
C)It declines prosecutions against bribery.
D)It offers significant advantages to several U.S. businesses abroad.
Answer: B
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5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) A difference between Gen Yers and baby boomers is that unlike Gen Yers, baby boomers:
A)are currently in two different stages of the life cycle.
B)are the most tech-savvy people yet.
C)outspend in categories such as gifts and medical care.
D)prioritize saving money.
Q2) Which of the following statements is true of Hispanic Millennials?
A)They are prone to taking a bilingual, bicultural approach to their media consumption.
B)They do not adhere to their cultural values and are often reluctant to raise a family.
C)Hispanic Millennials born in the United States acculturate to the primal 45-Latino society .
D)They share the same characteristics as other societies in the United States.
Q3) Which of the following statements is true of baby boomers?
A)The youngest baby boomers were around 34 years old in 2013.
B)They lay emphasis on price and quality while making purchase decisions.
C)They prefer to be addressed as senior, elderly, or aged.
D)They are a small market with minimal spending power.
Q4) Discuss the relationship between businesses and governments.
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Page 6
Chapter 5: Developing a Global Vision
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Sample Questions
Q1) In a direct foreign investment, which of the following statements is true of the direct investors?
A)They do not have a controlling interest in the firm.
B)They possess the lowest potential risk.
C)They have the highest potential reward.
D)They have a small minority interest in the foreign firm.
Q2) Because Facebook, YouTube, and other social media are popular around the world, firms both large and small have embraced social media marketing.
A)True
B)False
Q3) The Uruguay Round replaced General Agreement on Tariffs and Trade (GATT) with
A)the European Union (EU)
B)the World Trade Organization (WTO)
C)the North American Free Trade Agreement (NAFTA)
D)the International Monetary Fund (IMF)
Q4) Discuss exports in the United States.
Q5) Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?
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Chapter 6: Consumer Decision Making
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82 Flashcards
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Sample Questions
Q1) According to Maslow's hierarchy of needs theory, self-actualization is the highest human need of all.
A)True
B)False
Q2) The _____ is an orderly series of stages in which consumers' attitudes and behavioral tendencies evolve through maturity, experience, and changing income and status.
A)socialization process
B)consumer decision-making process
C)family life cycle
D)want-got gap
Q3) Unlike experiential learning, conceptual learning occurs when an experience changes your behavior.
A)True
B)False
Q4) Discuss the importance of understanding consumer behavior.
Q5) Personality refers to how consumers perceive themselves in terms of attitudes, perceptions, and beliefs.
A)True
B)False
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Chapter 7: Business Marketing
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70 Flashcards
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Sample Questions
Q1) A practice whereby business purchasers choose to buy from customers of their competitors is called reciprocity.
A)True
B)False
Q2) Many companies offer ethics training to employees and have codes of ethics that help guide buyers and sellers in business.
A)True
B)False
Q3) At Magnira Corp., a company that manufactures fruit preserves, fruits of excellent quality are used to make jams, jellies, and marmalades. In this scenario, the fruits are examples of _____.
A)raw materials
B)component parts
C)MRO items
D)finished goods
Q4) Differentiate between major equipment and accessory equipment.
Q5) Discuss the significance of content marketing as a trend in In B-to-B Internet Marketing.
Q6) Discuss the importance of customer service in business marketing.
Page 9
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) A concentrated strategy can be disastrous for a firm that is not successful in its narrowly defined target market.
A)True
B)False
Q2) Which of the following is a psychographic segmentation variable?
A)Usage rate of a product
B)Geodemographics
C)Gender
D)Ethnicities
Q3) In the context of family life cycle segmentation, which of the following statements is true?
A)Young divorced couples without children have the lowest purchase rate.
B)Middle-aged married couples with or without children have high average purchase of durables.
C)Young married couples with children have high liquid assets.
D)Middle-aged divorced couples without dependent children are least satisfied with their financial position.
Q4) Explain product differentiation as a positioning strategy used by marketers to distinguish their products from competitors.
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Chapter 9: Marketing Research
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Sample Questions
Q1) Which of the following best defines the term secondary data?
A)It refers to data that has not been proven and is in the form of assumptions.
B)It refers to raw data that has not been processed.
C)It is data previously collected for any purpose other than the one at hand.
D)It is data collected for the first time to solve a problem.
Q2) Which of the following statements is true of online focus groups?
A)They are cost-effective.
B)They have narrow geographic scope.
C)They are difficult to access.
D)They have low participation rates.
Q3) Mobile research provides immediate feedback when a consumer makes a decision to purchase, consumes a product, or experiences some form of promotion.
A)True
B)False
Q4) The first step in the marketing research process is to:
A)specify the sampling procedures to be followed.
B)recognize a marketing problem or opportunity.
C)collect primary data from available sources.
D)prepare and present a report.
Q5) Briefly discuss web community research.
Page 11
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Chapter 10: Product Concepts
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Sample Questions
Q1) Nestor's Nesties, a confectionery company, sells a variety of dark chocolates, milk chocolates, gummies, fruit juices, biscuits, cereals, and even cheese. These products together constitute the company's _____.
A)brand symbol
B)product line
C)brand mark
D)product mix
Q2) Identify a true statement about global branding strategies.
A)A one-brand-name strategy is useful when a company markets mainly one product.
B)Using different brand names in different markets leads to greater identification of the product from market to market.
C)A one-brand-name strategy reduces the ease of coordinating promotion from market to market.
D)Using different brand names in different markets means that a company does not follow localization.
Q3) Washers, dryers, refrigerators, and televisions are examples of unsought products.
A)True
B)False
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Steve, a retiree, wants to open a day care facility for dogs with his savings. After deciding on the services that he would be providing to his customers, he calculates costs versus the demand and the profit he could make depending on the volume of sales. After extensive deliberation, Steve decides to take credit from the bank for opening the facility as the initial investment required is too high. Steve is currently in the _____ stage of the new-product development process.
A)commercialization
B)business analysis
C)idea generation
D)test marketing
Q2) In which of the following ways does the concept of product life cycle (PLC) help marketing managers?
A)It tells managers the length of a product's life cycle.
B)It can be used to analyze a brand, a product form, or a product category.
C)It dictates the marketing strategy to be used for a product.
D)It informs marketers about the duration of a product in the various stages of its life cycle.
Q3) Explain absolute and relative product failure. Why do a large proportion of new product introductions fail?
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Page 13
Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) Patronage-oriented pricing seeks to match supply and demand by varying prices.
A)True
B)False
Q2) Wildside Inc., a company that organizes wildlife tours, gives equal importance to customers and employees. The managers at Wildside Inc. ensure that the employees of the company are satisfied with their jobs. They believe that the employees should be kept happy as they are the brand ambassadors of the company. This scenario is an example of _____.
A)external marketing
B)shopper marketing
C)nonprofit marketing
D)internal marketing
Q3) Describe the issues relating to target markets that are unique to nonprofit service organizations.
Q4) Nonprofit organizations have the freedom to choose their target audience that helps them control their economies of scale and lower per-capita costs.
A)True
B)False
Q5) Describe the four promotion strategies that marketers use to promote services.
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Chapter 13: Supply Chain Management and Marketing Channels
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72 Flashcards
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Sample Questions
Q1) Which of the following is a disadvantage of supply chain globalization?
A)It restricts companies from availing trade tariff.
B)It increases labor costs and materials costs for companies.
C)It exposes companies to risks associated with geopolitical conflict.
D)It leads to stagnation in the company's technology or knowledge.
Q2) DutiLog Inc. is a company that specializes in providing warehouse space and transportation solutions to a diverse group of firms. Given this information, DutiLog Inc. is an example of a third-party logistics company.
A)True
B)False
Q3) Which of the following statements is true of the supplier relationship management process?
A)It enables firms to act as leaders in protecting the natural environment.
B)It incorporates features and cost-cutting measures into final products.
C)It enables suppliers and business units to operate with limited or no interaction.
D)It provides structural support for developing and maintaining relationships with suppliers.
Q4) Briefly explain the emerging distribution channel structures with examples.
Page 15
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Chapter 14: Retailing
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Sample Questions
Q1) Will, a salesperson at a superstore, mistakenly provides wrong information to a customer about the location of a specific brand of dishwashing liquid. The customer, as a result, wastes time searching for the product. This is an example of brand cannibalization.
A)True
B)False
Q2) Salespeople should practice trading-up techniques, whether customers need those products or not, to increase overall product sales.
A)True
B)False
Q3) _____ represents all the activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use.
A)Product development
B)Production
C)Retailing
D)Manufacturing
Q4) Determining a target market is optional while creating the retailing mix.
A)True
B)False
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Chapter 15: Marketing Communications
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Sample Questions
Q1) Which of the following is a difference between social media and personal selling?
A)Social media can disperse a message quickly to a wide audience, whereas personal selling is very slow in dispersing a message to a large audience.
B)Social media entail two-way communication, whereas personal selling entails one-way communication.
C)Social media are a means of interpersonal communication, whereas personal selling is a means of mass communication.
D)Social media provide opportunity for immediate feedback, whereas personal selling does not provide opportunity for direct feedback.
Q2) Explain interpersonal and mass communication.
Q3) Persuasive promotion is used to keep the product and brand name in the public's mind.
A)True B)False
Q4) As organizations do not directly pay for publicity, it can be viewed as free. A)True
B)False
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Chapter 16: Advertising, Public Relations, and Sales Promotion
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Sample Questions
Q1) _____ is the element in the promotional mix that evaluates the public's attitudes, identifies issues that may elicit their concern, and executes programs to gain their understanding and acceptance.
A)Personal selling
B)Cooperative advertising
C)Sales promotion
D)Public relations
Q2) Which of the following is a similarity between trade sales promotion and consumer sales promotion?
A)Both focus on providing incentives to consumers or wholesalers to make an immediate purchase.
B)Both are directed to members of the marketing channel, such as wholesalers and retailers.
C)Both aim to increase sales by using point-of-purchase display.
D)Both aim to segment a market based on its characteristics.
Q3) Explain with an example how marketers manage unfavorable publicity during a crisis.
Q4) Discuss the effects of advertising on consumers.
Q5) Explain how online games are used for advertising.
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Chapter 17: Personal Selling and Sales Management
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Sample Questions
Q1) A good salesperson perceives objections as a hindrance to the purchase decision.
A)True
B)False
Q2) Relationship selling is more often used in selling situations for consumer goods.
A)True
B)False
Q3) _____ occurs when a customer and a company representative exchange information and develop learning relationships.
A)Traditional selling
B)An intervention
C)Customer profiling
D)An interaction
Q4) Which of the following is part of defining the sales goal of a company?
A)Assigning quotas to salespeople
B)Evaluating the sales force
C)Training new salespeople
D)Designing the sales force structure
Q5) Write a note on customer relationship management.
Q6) Differentiate between traditional personal selling and relationship selling.
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Chapter 18: Social Media and Marketing
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Sample Questions
Q1) Which of the following changes has been brought about in advertising because of the influence of social media?
A)The number of ways in which marketers can have direct and meaningful conversations with customers has reduced.
B)The focus of social media has unavoidably shifted to manufacturers.
C)The interaction between producer and consumer has become less about engaging and more about entertaining.
D)The audience is often in control of the message, the medium, the response, or all three.
Q2) _____ are independent and not associated with the marketing efforts of any particular company or brand.
A)Marketing communications
B)Social networking sites
C)Social media campaigns
D)Noncorporate blogs
Q3) In social media, negative comments and complaints can illuminate unknown brand flaws.
A)True
B)False
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Page 20
Chapter 19: Pricing Concepts
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Sample Questions
Q1) To prove predatory pricing, the predator must show that it explicitly tried to ruin a competitor and that the predatory price was below its average variable cost.
A)True
B)False
Q2) The newly opened Stone Restaurant was unable to attract a lot of customers. Since the owner of the restaurant had to pay back the loan that he had taken to start the restaurant, he decided to offer a 20 percent discount on the entire menu on weekends. In this scenario, the owner's pricing objective is a(n) _____.
A)market share maximization objective
B)profit maximization objective
C)asset maximization objective
D)sales maximization objective
Q3) A price skimming strategy is most often used for a new product when:
A)competition in the market is abundant.
B)customers are unwilling to spend a large amount of money on the product.
C)the supply of the product is greater than its demand.
D)the product is perceived by the target market as having unique advantages.
Q4) Explain with examples how price plays a role in promotion strategies for products.
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Page 21