Contemporary Marketing Issues
Final Exam
Course Introduction
Contemporary Marketing Issues explores the dynamic landscape of modern marketing, focusing on the emerging trends, challenges, and opportunities that shape today's marketplace. The course covers topics such as digital transformation, consumer privacy, ethical considerations, globalization, sustainability, and the impact of technology on marketing strategies. Students will analyze real-world cases and current events to understand how organizations adapt to shifting consumer behavior, increased competition, and regulatory environments. The course aims to develop critical thinking and practical skills necessary to navigate the complexities of contemporary marketing, preparing students for effective decision-making in a rapidly evolving field.
Recommended Textbook
Marketing Real People Real Choices 4th Canadian Edition by Michael R. Solomon
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12 Chapters
1799 Verified Questions
1799 Flashcards
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Chapter 1: Welcome to the World of Marketing: Create and Deliver Value
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Write two questions that a firm would be likely to consider during the marketing decision making process.
Answer: Answers will vary, but should reflect an understanding of the "big picture" nature of marketing planning.Examples: What product benefits will our customers want in the near future? What sets our firm apart from competitors? How will legal and regulatory issues affect our business?
Q2) A firm has a distinctive competency when it is able to outperform the competition, providing customers with a desired benefit the competition does not.
A)True
B)False
Answer: True
Q3) Alex paid for a(n) ________ when he took his car to the carwash to be washed and waxed.
A)service
B)industrial product
C)consumer good
D)commercial
E)business product
Answer: A
Page 3
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Chapter 2: Strategic Market Planning: Take the Big Picture
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Which of the following is a true statement about business planning?
A)Business planning involves taking action before developing objectives.
B)Business planning is an ongoing process.
C)Business planning is concerned with the long term but not the short term.
D)Business planning is concerned with the short term but not the long term.
E)Business planning takes place after development of the marketing plan.
Answer: B
Q2) A(n)________ is a tool management uses to assess the potential of a firm's business portfolio.It helps management decide how to allocate resources among the firm's current SBUs.
A)SWOT analysis
B)portfolio analysis
C)value chain
D)operational plan
E)compatibility assessment
Answer: B
Q3) SWOT stands for strengths, willingness, opportunities, and threats.
A)True
B)False
Answer: False
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Chapter 3: Marketing Research: Gather, Analyze, and Use Information
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) RBC Royal Bank wanted to evaluate the financial value of its substantial personal customer base to determine which type of customers were the most valuable to the bank.To do this, the bank looked at revenues and expenses from each of its financial products, including loans and credit card usage.To identify and then analyze this information, the bank utilized the MIS analysis technique called ________.
A)data warehousing
B)marketing research
C)probability sampling
D)data mining
E)market basket analyzing
Answer: D
Q2) Decision makers within a company would be more likely to use an MIS than an MDSS to forecast the results of maintaining the company's prices while competitors reduce their prices.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Consumer Behaviour: How and Why We Buy ?
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150 Flashcards
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Sample Questions
Q1) In a laboratory experiment, a rat in a maze learns the quickest route to a piece of cheese after several attempts.This is an example of observational learning.
A)True
B)False
Q2) According to ________, men are not supposed to like movies that are described as "chick flicks," and women are not supposed to like movies that emphasize violence and destruction.
A)social classes
B)gender roles
C)subcultures
D)situational influences
E)reference groups
Q3) Opinion leaders influence younger consumers but usually have little or no effect on adults seeking to make a major purchase.
A)True
B)False
Q4) Explain how and why marketers use search engine optimization (SEO).
Q5) What is consumerism and how has it influenced marketing?
Q6) Briefly describe each step in the consumer decision-making process.
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Chapter 5: Business-To-Business Markets: How and
Why
Organizations Buy?
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Not-for-profit institutions such as the Salvation Army and the Red Cross belong to the ________ class of B2B consumers.
A)raw material
B)producer
C)organization
D)commerce
E)reseller
Q2) Companies can use firewalls within their intranets to allow only designated employees access to certain parts of the system.
A)True
B)False
Q3) ________ is a business practice in which a buyer shapes a supplier's products and operations to satisfy its needs.
A)Reciprocity
B)Functionalization
C)Reverse marketing
D)Bottom-up marketing
E)Crowdsourcing
Q4) Briefly describe the roles in the buying centre.
Page 7
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Chapter 6: Sharpen the Focus: Target Marketing Strategies
and Customer Relationship
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150 Flashcards
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Sample Questions
Q1) A(n)________ is a distinct image that captures the character and benefits of a good or service.
A)perceptual map
B)target market
C)brand personality
D)segment profile
E)trade promotion
Q2) Compare and contrast the advantages and disadvantages of undifferentiated targeting, differentiated targeting, and concentrated targeting.
Q3) CRM programs facilitate communication from a company to its customers and from customers to the company.
A)True
B)False
Q4) The cosmetics giant L'Oreal offers several product lines at a variety of prices.It targets the luxury market with its brand Helena Rubinstein, while less expensive offerings such as Elseve are targeted to large department stores and discounters.Is this practice a differentiated targeting strategy or an undifferentiated targeting strategy? Explain your answer.
Q5) Explain the philosophy of customer relationship management (CRM).
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Chapter 7: Create the Product
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151 Verified Questions
151 Flashcards
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Sample Questions
Q1) JetBlue is a low-fare airline.JetBlue gives customers a friendly cabin crew, roomy overhead bins, live satellite TV at every leather seat, and even pay-per-view movies.How is JetBlue striving to provide quality service? Explain your answer.
Q2) We consume ________ in the short term rather than the long term.
A)unsought products
B)specialty products
C)raw materials
D)durable goods
E)nondurable goods
Q3) Tangibles, reliability, responsiveness, assurance, and empathy are the five dimensions of service quality used in which of the following?
A)total quality management (TQM)
B)SERVQUAL
C)gap analysis
D)the critical incident technique
E)the market fulfillment approach
Q4) Services are characterized by four key characteristics.Name and describe these four characteristics.
Q5) How do marketers define innovation?
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Chapter 8: Manage the Product
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150 Flashcards
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Sample Questions
Q1) Heinz stopped marketing its "Bite Me" brand of frozen pizza snacks due to disappointing sales.This is an example of a ________.
A)filling-out strategy
B)downward line stretch
C)product line contraction
D)value stretch
E)cannibalization strategy
Q2) Explain the potential problems associated with the brand management system.
Q3) Product packaging can do all of the following EXCEPT which one?
A)protect the product
B)provide service
C)communicate brand personality
D)make the product easier to store
E)create a competitive advantage
Q4) All of the following are stages in the product life cycle EXCEPT which one?
A)introduction
B)adoption
C)growth
D)maturity
E)decline
Page 10
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Chapter 9: Price the Product
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150 Flashcards
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Sample Questions
Q1) Which of the following statements about the break-even point is true?
A)It is used to determine how many more units need to be sold to increase market share by a specific amount.
B)It is a technique used to calculate fixed costs.
C)It determines the amount of retained earnings a company will have during an accounting period.
D)It is a technique marketers use to examine the relationship between supply and demand.
E)It is calculated using contribution per unit costs and total fixed costs.
Q2) Penetration pricing is the opposite of skimming pricing.
A)True
B)False
Q3) In a(n)________, all of the buyers know the highest price bid at any point in time.
A)reverse auction
B)dynamic auction
C)open auction
D)reserve auction
E)price-lining auction
Q4) Why is price lining a good practice for retailers?
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Chapter 10: One to Many to Many to Many: Traditional and New Media
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149 Flashcards
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Sample Questions
Q1) Glasis is a type of paint made specifically for use on cars.An ad in Motor Trend magazine advising consumers to request their body shops use Glasis paint is an example of how a company uses ________.
A)viral marketing
B)stealth marketing
C)buzz marketing
D)a push strategy
E)a pull strategy
Q2) ________ is the element of the promotion mix that involves direct interaction between a company representative and a customer.
A)Word of mouth
B)Public relations
C)Advertising
D)Personal selling
E)Sales promotion
Q3) Identify an important difference for marketers between Twitter and Facebook.
Q4) What is integrated marketing communication (IMC)? Explain how it differs from more traditional marketing communication approaches.
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Q5) Discuss how marketers can use virtual worlds to convey marketing communications.
Chapter 11: Advertising, Public Relations, Promotions, Direct
Marketing and Personal Selling
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Sample Questions
Q1) It is more difficult to assess the bottom-line impact of public relations activities than the bottom-line impact of advertising.
A)True
B)False
Q2) Timely topics and research project stories are both types of ________.
A)advertising appeals
B)advocacy advertising
C)puffery
D)press releases
E)creative strategies
Q3) A trade show is a way for a company to do all of the following EXCEPT which one?
A)distribute literature about its product
B)pay a bonus to members of its salesforce
C)give away sample products
D)establish new business contacts
E)showcase its new products in elaborate exhibits
Q4) A merchandising allowance is a discount to a wholesaler or retailer based on the order volume of a product.
A)True
B)False
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Chapter 12: Deliver the Value Through Supply Chain
Management, Channels of Distribution, and Logistics
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Sample Questions
Q1) Which of the following is the series of firms or individuals that facilitate(s) the movement of a product from the producer to the final customers?
A)the industrial network
B)the retailer chain
C)the multilevel network
D)the channel of distribution
E)the conventional marketing system
Q2) The owner of a grocery store wants to have non-food items delivered, priced, displayed and inventoried by a wholesaler.Which type of wholesaler best fits the owner's needs?
A)drop shipper
B)cash-and-carry wholesaler
C)truck jobber
D)rack jobber
E)mail-order wholesaler
Q3) Explain the limitations for marketers offering e-commerce shopping.
Q4) An appliance, television, and stereo dealer serves as an authorized repair center, provides maintenance contracts, and sells essential supplies to customers.What types of channel functions are being implemented by this dealer?
Page 14
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