Contemporary Marketing Exam Preparation Guide
Course Introduction
Contemporary Marketing explores modern marketing concepts, strategies, and practices in todays dynamic business environment. The course examines how advancements in technology, digital platforms, social media, and evolving consumer behaviors shape contemporary marketing efforts. Students will learn about market research, branding, integrated marketing communications, consumer engagement, and ethical considerations in the digital era. Emphasis is placed on real-world case studies, innovative marketing campaigns, and data-driven decision making to equip learners with practical skills to address current marketing challenges and opportunities.
Recommended Textbook
MKTG 2nd Edition Canadian by Charles W. Lamb
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20 Chapters
3306 Verified Questions
3306 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) An expert in library science stated in Library Journal,"What librarians need to tell people is not how wonderful our public libraries are but rather how wonderful they could be." What is the library science expert saying that libraries need to do?
A)be concerned with creating customer value
B)assess what services are most convenient for libraries to offer
C)determine where their talents and abilities lie
D)better promote the libraries books and services
Answer: A
Q2) The ultimate goal of most market-oriented firms is profitability,which results from satisfying the wants and needs of its consumers.
A)True
B)False
Answer: True
Q3) Marketing is a job that should be handled by marketers.People in management,accounting,and finance should focus on their own specialties.
A)True
B)False
Answer: False
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Chapter 2: The Marketing Environment, social Responsibility, and Ethics
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) What is the term for the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single,traditional lifestyle?
A)aggregated lifestyle
B)component lifestyle
C)psychographic lifestyle
D)demographically defined lifestyle
Answer: B
Q2) Morals are rules people develop as a result of cultural values and norms.
A)True
B)False
Answer: True
Q3) You are a marketing consultant to a firm that would like to target members of Generation X.Which of the following would you advise it to do?
A)Emphasize freedom from work and commitment.
B)Develop a personal service that will appeal to these time-poor consumers.
C)Avoid topics dealing with materialistic possessions.
D)Emphasize the baby boom culture.
Answer: B
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Chapter 3: Strategic Planning for Competitive Advantage
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185 Flashcards
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Sample Questions
Q1) Diamonds that come from rebel African troops trying to get money for weapons are much cheaper than diamonds from countries that are not in conflict.A diamond retailer that ignores the pleas of human rights organizations not to sell the cheaper diamonds is creating a cost competitive advantage for itself.
A)True
B)False
Answer: True
Q2) What could Zipcar,a company that rents cars by the hour,do through the use of environmental scanning?
A)learn why it needed to use a team management structure
B)determine why the market for short-term car rentals is growing
C)benefit from experience curves
D)periodically divest itself of low-margin vehicles
Answer: B
Q3) When a florist shop begins to sell burial caskets to its customers,it is engaged in product development.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Decision Support Systems and Marketing Research
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189 Flashcards
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Sample Questions
Q1) What is the chief advantage of primary data?
A)low cost compared to secondary data
B)relevance to the problem at hand
C)availability to any interested party for use
D)accessibility through computerized databases
Q2) C&S Manufacturing Company makes gift wrapping paper and ribbons.It wants to add 15 square feet to its most popular rolls of wrapping paper and keep the price of each roll at $4.95.C&S Manufacturing wonders if the additional paper footage would increase sales enough to offset the higher costs.What type of primary data research should the company use to answer this question?
A)focus-group interviews in a laboratory setting
B)telephone interviews with current and potential customers
C)observation research
D)experimental research
Q3) Comment on the following statement: "Internet surveys are superior to mail surveys."
Q4) What is survey research? How does survey research differ from observation research? Name six popular forms of survey research.
Q5) List in order the seven steps of the marketing research process.
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Chapter 5: Consumer Decision Making
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165 Flashcards
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Sample Questions
Q1) What is the difference between culture and subculture? Why do marketing managers need to understand culture and subculture?
Q2) Refer to New Car Purchase.Zena's visits to the dealers and to the library best represent which step of the consumer decision-making process?
A)need recognition
B)information search
C)evaluation of alternatives
D)stimulus
Q3) When would a marketing manager expect his or her product to be a high-involvement product for most consumers?
A)if it is a product adaptation of a market leader
B)if it is a necessity
C)if it has not been purchased before
D)if it requires substantial financial investment
Q4) What is another name for evoked set?
A)called array
B)reminder assortment
C)induced memory
D)consideration set
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Chapter 6: Business Marketing
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183 Flashcards
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Sample Questions
Q1) What is the term for the primary promotional method for the sale of all business products?
A)direct mail
B)advertising
C)personal selling
D)public relations
Q2) Which of the following is the best example of a sale that could take place only in the business market?
A)A park ranger is purchasing an azalea bush for her garden.
B)A music store owner is ordering the newest Celine Dion CD for her mother.
C)A dentist is buying postage stamps to mail invitations to his son's birthday party.
D)A university controller is ordering more computers for classroom labs.
Q3) Why is it important that marketers understand the classification of the business product they are selling?
A)OEM markets often act just like the consumer markets.
B)Promotion and distribution strategies tend to vary depending upon the classification.
C)Distribution channels are almost always direct for all business selling.
D)Raw materials demonstrate extreme flexibility in pricing.
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Chapter 7: Segmenting, targeting, and Positioning
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205 Verified Questions
205 Flashcards
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Sample Questions
Q1) One reason marketers use market segmentation as a tool is that,once completed,the process need not be repeated.
A)True
B)False
Q2) The Play It Again Sports chain carries all kinds of sports equipment at much lower prices than the typical sporting goods store.Typically,merchandise sold in the store has little,if any,wear.By being both a way for people to get rid of unwanted equipment and a source of new-to-you equipment,what is Play It Again Sports emphasizing?
A)geographic lifestyles
B)public relations
C)the family life cycle
D)positioning
Q3) What is psychographic segmentation? Why do marketers use psychographic segmentation? List four psychographic variables commonly used as segmentation bases.
Q4) Multisegment targeting offers many benefits to firms,as well as many additional costs.List two benefits and four costs of multisegment targeting.
Q5) The business market consists of four broad segments.What are these segments?
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Chapter 8: Customer Relationship Management CRM
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) To be useful,where could all of these data be centralized?
A)in a data mart
B)in a decision matrix
C)in a data warehouse
D)in a data cluster
Q2) Marketing to repeat customers is more profitable than marketing to first-time buyers is a basic assumption of which of the following?
A)customer segmentation
B)predictive modelling
C)data manipulation
D)lifetime value analysis
Q3) Refer to Hudson's Bay Company.Which of the following provides the most likely reason that Hudson's Bay Company implemented this reward program?
A)to acquire more information about its customers
B)to make sure the 80/20 principle is not influencing its activities
C)to retain loyal customers
D)to increase the importance of customer service
Q4) How can a company measure its success at implementing CRM techniques? How does empowerment influence CRM marketing?
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Chapter 9: Product Concepts
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169 Flashcards
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Sample Questions
Q1) Refer to Michelin.What sort of modification has Michelin made to its tires?
A)implied
B)functional
C)adaptive
D)aesthetic
Q2) Organizations derive several benefits from organizing related product items into product lines.Briefly describe four of these benefits.
Q3) Tyler wants the Coca-Cola Barbie by Mattel for her birthday.This Mattel product contains items with the Coca-Cola trademark,and Barbie is wearing an outfit in Coca-Cola red and white.Because both brands are receiving equal treatment,what is this most likely an example of?
A)cooperative branding
B)ingredient branding
C)umbrella branding
D)complementary branding
Q4) Name and briefly describe six branding alternative strategies.
Q5) What is a brand? What is the difference between a brand name,a brand mark,a trademark,and a service mark?
Q6) How would a marketer define the term product?
Page 11
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Chapter 10: Developing and Managing Products
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156 Verified Questions
156 Flashcards
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Sample Questions
Q1) What is the term for new-to-the-world products,where the product category itself is new?
A)discontinuous innovations
B)moderate innovations
C)slow-diffusing products
D)venture products
Q2) Oakley,the manufacturer of protective eyewear for sports enthusiasts,has recently introduced Oakley's Thump,UV sunglasses that allow the wearer to store and listen to 120 different songs.Which of the following product characteristics would likely exert the greatest influence on the market success of these new glasses?
A)comparability
B)complexity
C)tangibility
D)competitive advantage
Q3) What are three ways that test marketing can cause problems for a company? What are two alternatives that can be used instead of traditional test marketing?
Q4) What is the final stage in the new-product development process? What tasks are set in motion during this stage?
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12
Chapter 11: Services and Nonprofit Organization Marketing
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194 Verified Questions
194 Flashcards
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Sample Questions
Q1) Management-labour mediation,child care,and college preparation classes are all services that are produced and consumed at the same time.Which service characteristic do all of these services exhibit?
A)inseparability
B)intangibility
C)heterogeneity
D)perishability
Q2) Refer to Sizzlin' Shine.Sizzlin' Shine's customers can judge the quality of the detailing services on their automobiles only after driving them for a period of time and seeing how the shine holds under various driving conditions.What can customers use to evaluate the service?
A)cognitive perception
B)experience qualities
C)search qualities
D)heterogeneous perception
Q3) Define core and supplementary services.Give an example of each for the following services: a wedding consultant,a lawn care service,and tutoring service.
Q4) Name and briefly define the three categories of pricing objectives for services.
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Chapter 12: Marketing Channels and Supply Chain Management
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163 Verified Questions
163 Flashcards
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Sample Questions
Q1) Exclusive distribution is the most restrictive form of market coverage.
A)True
B)False
Q2) In which logistical component of the supply chain will you find distribution resource planning (DRP)a common feature?
A)production scheduling
B)order processing
C)materials handling
D)inventory control
Q3) A manufacturer may produce only one product,yet additional products may be required to actually use the first product.What does this create?
A)a discrepancy of quantity
B)a discrepancy of assortment
C)a spatial discrepancy
D)a temporal discrepancy
Q4) Channel members such as wholesalers and retailers are often included between producers and business users or consumers for three important reasons.Name and briefly describe these reasons.
Q5) What is a marketing channel? What is a supply chain?
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Chapter 13: Retailing
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158 Flashcards
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Sample Questions
Q1) The Home Depot has selected orange as its corporate colour.It's a good choice.At the gut level,orange connotes happiness and warmth.A recent article in one of the company's advertising brochures spoke about choosing colours for home decorating.It referred to this colour as "joyful orange." What is the colour orange part of at The Home Depot stores?
A)the atmosphere
B)the target strategy
C)the merchandise mix
D)the promotional strategy
Q2) Les Ailes de la Mode is a Quebec retailer that wants to portray an image of quality to help reinforce its prestige image.What would be the key element in this store's positioning strategy and classification?
A)price
B)personnel
C)promotion
D)product
Q3) After defining and selecting a target market,retailers must develop the six Ps of the retailing mix to successfully meet the needs of the chosen target market.What are the six Ps of the retailing mix?
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Page 15
Chapter 14: Integrated Marketing Communication
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179 Verified Questions
179 Flashcards
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Sample Questions
Q1) Refer to Chrysler.These communications are directed at the individuals who will decode the message.What are they?
A)senders
B)receivers
C)encoders
D)channels
Q2) Which of the following statements best describes the characteristics of the elements in the promotional mix?
A)Control over message content is greatest when public relations is used.
B)The fastest feedback occurs with personal selling.
C)The mode of communication for sales promotion is usually direct and personal.
D)The message flow with advertising is two-way.
Q3) What is communication to large audiences,usually through a medium such as television or a newspaper called?
A)mass communication
B)feedback-proof communication
C)referential communication
D)public communication
Q4) What is integrated marketing communications (IMC)? How is IMC implemented?
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Chapter 15: Advertising, public Relations, and Direct Response
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174 Verified Questions
174 Flashcards
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Sample Questions
Q1) Which type of advertising compares two or more specifically named or shown competing brands on one or more specific attributes?
A)contrasting
B)comparative
C)pioneering
D)differentiational
Q2) According to the text what is one reason that a retailer might avoid the use of newspaper advertising?
A)absence of geographic selectivity
B)short lead time
C)little demographic selectivity
D)high individual market coverage
Q3) General Motors runs magazine advertisements that encourage the purchase of Cadillac automobiles.Which type of advertising is being used?
A)pioneering
B)circumstantial
C)product
D)comparative
Q4) How does competitive advertising differ from comparative advertising?
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Chapter 16: Social Media and Marketing
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Sample Questions
Q1) Social media strategist Jeremiah Owyang has identified eight stages of effective listening.Which of the following scenarios is an example of "Stage 8" listening?
A)An online clothing retailer asks customers to complete a satisfaction survey,which it uses to improve customer service.
B)A local restaurant searches Twitter to find out what people are saying about today's specials.
C)A software company allows customer service representatives to make real-time responses to customer queries.
D)An online bookseller examines customers' product reviews,comments,and past purchases to suggest additional titles customers might enjoy.
Q2) Of the following,who is most likely to be a LinkedIn user?
A)Erin,a 13-year-old junior high student and music lover
B)Mitch,a 24-year-old songwriter who hopes to make it big in Nashville
C)Sharika,a 35-year-old attorney just opening her own practice
D)Jose,a 50-year-old Blue Jays fan looking for conversation with other baseball lovers
Q3) Distinguish between owned media and earned media,and give several examples of each.
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Page 18
Chapter 17: Sales Promotion and Personal Selling
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Sample Questions
Q1) Under a partnership agreement between HarperCollins and Sutter Home Winery,consumers can visit the Sutter Home website monthly to learn which book and which wine are being featured.Each visit to the website qualifies the consumers for the opportunity to take their reading group for a weekend stay at the Sutter Home Victorian Inn and free books from HarperCollins.Since there is no skill involved,how will this prize package be awarded?
A)through a contest
B)through a sweepstakes
C)through a loyalty incentive plan
D)through a,event sponsorship
Q2) Which of the following is a form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status?
A)quota setting
B)networking
C)lead qualification
D)cold calling
Q3) Consultative selling is also called relationship selling.
A)True
B)False
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Chapter 18: Pricing Concepts
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Sample Questions
Q1) In the mature and highly competitive furniture industry,what would you expect furniture manufacturers to engage in?
A)a price war
B)price escalation
C)prestige pricing
D)geographical pricing
Q2) Regency,Inc.makes disposable cap and gown sets for graduations.Each cap and gown set sells for $15.The average variable cost for manufacturing 10 cap and gown sets is $100.Total fixed costs for the year equal $65,000.Calculate the break-even point in units.
A)650
B)765
C)1,300
D)13,000
Q3) Besides a given fixed cost,what does the typical break-even model assume?
A)variable per unit cost
B)constant inventory turnover
C)constant production schedule
D)constant average variable cost
Q4) What is price?
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Chapter 19: Setting the Right Price
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Sample Questions
Q1) Price discrimination can sometimes be justified.
A)True
B)False
Q2) Refer to Mrs.K's Premium Quebec Cheese.Which type of pricing involves dividing the state of Quebec into segments and pricing products based on the freight charges to different segments?
A)uniform delivered
B)freight absorption
C)zone
D)basing point
Q3) The U.S.Department of Justice has charged that Samsung,the world's largest DRAM (dynamic RAM)maker,Hynix Semiconductor,Inc. ,Infineon Technologies AG,and Micron Technology,Inc.all conspired to set prices of computer memory between 1999 and 2002.This means the companies did which of the following?
A)tried to sell computer memory at below costs
B)charged customers different amounts for the same number of computer memory
C)colluded on the price they would charge customers for the computer memory
D)created an artificial demand for computer memory
Q4) Distinguish between a cumulative and a noncumulative discount.
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Chapter 20: Developing a Global Vision
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Sample Questions
Q1) Which of the following is a law that compels a company earning foreign currency from its exports to sell it to a central bank rather than sending the money out of the country?
A)a tariff
B)a quota
C)a fiscal prerequisite
D)an exchange control
Q2) Refer to Boeing Company.Which method of entering the Japanese market has Boeing chosen?
A)dumping
B)contract manufacturing
C)licensing
D)direct investment
Q3) What is franchising a form of?
A)contract marketing
B)international exporting
C)licensing
D)agent manufacturing
Q4) Why is developing a global vision important for firms in Canada?
Q5) What is a market grouping? Describe the best-known market grouping.
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