Contemporary Marketing
Mock Exam
Course Introduction
Contemporary Marketing explores the dynamic landscape of modern marketing practices, emphasizing the impact of technological advancements, digital media, and changing consumer behavior on marketing strategies. The course covers essential topics such as market segmentation, branding, integrated marketing communications, social media engagement, and ethics in marketing. Students will analyze real-world case studies to understand the complexities of global competition, sustainability, and the role of data-driven decision making. By the end of the course, participants will be equipped with practical skills and strategic insights necessary to develop and implement effective marketing solutions in todays ever-evolving marketplace.
Recommended Textbook
MKTG 11th Edition by Charles W. Lamb
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19 Chapters
1236 Verified Questions
1236 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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Q1) Which of the following statements is true of firms that adopt relationship marketing strategies?
A)They focus on the internal business environment.
B)They rely on aggressive sales strategies.
C)They focus on short-term goals of increasing sales.
D)They encourage teamwork among employees.
Answer: D
Q2) Which of the following statements is true of on-demand marketing?
A)It requires firms to focus on the internal rather than the external business environment.
B)It gives maximum emphasis to aggressive personal selling strategies.
C)It is aimed at enhancing customer relationships.
D)It is the most important strategy used by sales-oriented firms.
Answer: C
Q3) In the context of marketing, an exchange refers to people giving up something in order to receive something else they would rather have.
A)True
B)False
Answer: True
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3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) _____ tells us that costs decline at a predictable rate as experience with a product increases.
A)A market opportunity analysis (MOA)
B)An experience curve
C)Marketing myopia
D)Ansoff's strategic opportunity matrix
Answer: B
Q2) Unlike a product/service differentiation competitive strategy, a niche strategy:
A)is suitable for small companies with limited resources.
B)is opted in a market segment that has low growth potential.
C)aims at being the low-cost competitor in an industry.
D)removes frills and options from a product or service.
Answer: A
Q3) In the context of a marketing mix, which of the following business activities is most closely related to distribution strategies?
A)Attractiveness of the product packaging
B)Targeting market segments
C)Storage of raw materials
D)Medium to be used for advertising
Answer: C
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Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) The _____ compares a current ethical dilemma with examples of similar ethical dilemmas and their outcomes.
A)deontological theory
B)moral relativism theory
C)casuist ethical theory
D)utilitarian ethical theory
Answer: C
Q2) In the context of ethical theories, which of the following statements is true of moral relativism?
A)Moral activists believe that an act that is legally wrong is always ethically wrong.
B)It does not believe in absolute rules.
C)Moral relativists believe that the most beneficial choice for the most people is ethically correct.
D)It is a belief based on rules and individual obligations.
Answer: B
Q3) Anything that is legal is ethical.
A)True
B)False
Answer: False
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Page 5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) The CAN-SPAM Act:
A)prohibits commercial e-mailers from using false addresses and presenting false or misleading information.
B)requires fast-food chains to open their facilities to health inspection at least once every quarter.
C)requires verifiable parental consent before a Web site can collect information from children.
D)allows commercial e-mailers to charge consumers a fee to opt out of receiving further email.
Q2) Which of the following statements is true about population trends in the United States?
A)The populations in the rural regions of the United States are aging.
B)In many parts of the country, multigenerational households are increasingly rare.
C)Baby boomers are now the smallest population group.
D)Tweens are now the largest population group.
Q3) Gen Xers tend to be frugal and seek value when making purchases.
A)True
B)False
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Chapter 5: Developing a Global Vision
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Q1) The Group of Twenty (G-20) was founded in 1945, one year after the creation of the World Bank, to promote trade through financial cooperation and eliminate trade barriers in the process.
A)True
B)False
Q2) A(n) _____ is an intermediary who brings a buyer and a seller together.
A)licenser
B)export broker
C)contract manufacturer
D)export merchant
Q3) _____ is the largest Latin American trade agreement, and it includes Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela.
A)Mercosur
B)General Agreement on Tariffs and Trade (GATT)
C)The Uruguay Round
D)The North American Free Trade Agreement (NAFTA)
Q4) Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?
Q5) Explain franchising.
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Chapter 6: Consumer Decision Making
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Q1) Recently, Jenny Inc. launched a new laptop in the market. Blake bought the laptop but was disappointed when several cheaper laptops were successfully launched in the market soon after. To get over his disappointment, he convinced himself that those laptops were inferior in quality. This scenario illustrates _____.
A)selective distortion
B)stimulus discrimination
C)cognitive dissonance
D)confirmation bias
Q2) According to Maslow's hierarchy of needs theory, self-actualization is the highest human need of all.
A)True
B)False
Q3) Consumers can be influenced by reference groups only if they belong to those groups.
A)True
B)False
Q4) Consumers try to reduce dissonance by justifying their purchase decision.
A)True
B)False
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Chapter 7: Business Marketing
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Sample Questions
Q1) Processed materials include capital goods such as large or expensive machines, mainframe computers, blast furnaces, generators, airplanes, and buildings.
A)True
B)False
Q2) In social media marketing, awareness occurs when action is taken and includes everything from downloading a piece of content (like a white paper) to actually making a purchase.
A)True
B)False
Q3) Seth, an Administrative Manager at Seal Inc., is asked to purchase ten printers for the firm's office. He contacts a sales representative at Myro Distributors Inc. and places an order for ten printers. Myro Distributors Inc. purchases the printers from Ink Corp., a wholesaler, and delivers them to Seth at his office. In this scenario, Myro Distributors Inc. is most likely to be a(n) _____.
A)producer
B)retailer
C)institution
D)manufacturer
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9
Chapter 8: Segmenting and Targeting Markets
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Q1) Customers looking for luxury want products that exhibit careful craftsmanship, timeless design, prestige, and exclusivity. This type of market is segmented by ethnicity.
A)True
B)False
Q2) A firm that adopts an undifferentiated targeting strategy assumes that:
A)a market is composed of narrowly defined market segments.
B)small firms can compete effectively with large firms.
C)concentrating all resources on understanding the needs of a single market results in cannibalization.
D)individual customers have similar needs that can be met with a common marketing mix.
Q3) Starlight Jewelry sends Lauren a birthday card along with a pendant as a token of appreciation for shopping frequently at its store. The trend portrayed in this customer relationship management technique is _____.
A)loyalty
B)technology
C)time savings
D)standardization
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Chapter 9: Marketing Research
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Q1) In the context of web community research, all community interaction takes place on a custom-designed website.
A)True
B)False
Q2) Briefly discuss the impact of the ever-changing marketplace on marketing research.
Q3) In the context of customer relationship management, the use of big data analytics is limited to the collection of customer data.
A)True
B)False
Q4) What is competitive intelligence (CI)?
Q5) In the context of marketing research projects, the research design specifies:
A)how and when data will be gathered.
B)which management decision problem needs to be solved.
C)what modifications should to be made to the approved project budget.
D)how employees are to be motivated.
Q6) Marketing research deteriorates the quality of decision making.
A)True
B)False
Q7) Briefly discuss probability samples and nonprobability samples.
Page 11
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Chapter 10: Product Concepts
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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) Paulette goes to an electronic store to purchase a refrigerator. After comparing the technical features, prices, and durability of the various brands of refrigerators available, she purchases the one that is cheaper and smaller in size than the rest. In this case, Paulette has purchased a _____.
A)shopping product
B)business product
C)specialty product
D)convenience product
Q3) Salespeople actively seek leads to potential buyers to sell unsought products.
A)True
B)False
Q4) Discuss the concept of planned obsolescence.
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Chapter 11: Developing and Managing Products
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Q1) In the context of the new-product development process, which of the following is true of a new-product strategy?
A)It refrains from adopting ideas suggested by customers and competitors.
B)It is the last stage of the new-product development process.
C)It must be compatible with the objectives of the marketing department, the business unit, and the corporation.
D)It involves targeting existing products at new markets.
Q2) In the context of the product life cycle, a long-run drop in a product's sales signals the beginning of the _____.
A)introductory stage
B)growth stage
C)maturity stage
D)decline stage
Q3) A product category includes all brands that satisfy a particular type of need.
A)True
B)False
Q4) What are the major implications of the new-product development process and the diffusion process to marketing managers?
Q5) How is the Internet important for implementing simultaneous product development?
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Chapter 12: Services and Nonprofit Organization Marketing
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Q1) Tina is an expert gardener. She provides services like setting up new gardens, maintaining gardens, and landscaping. In the context of service processes, the services provided by Tina come under the category of _____.
A)information processing
B)mental stimulus processing
C)possession processing
D)people processing
Q2) What are the challenges faced by service providers while deciding a pricing strategy?
Q3) For a nonprofit service firm, the first step toward success in the global marketplace is determining the nature of its core products.
A)True
B)False
Q4) Internal marketing is more important for goods manufacturers than service firms.
A)True
B)False
Q5) Briefly explain what service firms must do to be successful in the global marketplace.
Q6) Describe the four promotion strategies that marketers use to promote services.
Page 14
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Chapter 13: Supply Chain Management and Marketing Channels
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Q1) Mezzah Bros., a video store that sells DVDs and entertainment publications, stores its products in separate warehouses. Moreover, it uses different modes of transportation to deliver them to customers. This scenario illustrates the _____ functions of Mezzah Bros.
A)transactional
B)research
C)logistical
D)financing
Q2) Which of the following statements is true of supply chain-oriented firms?
A)They lack the support of top managers.
B)They are willing to accept long-term risks on behalf of others.
C)They work against their partners when seeking to achieve goals.
D)They are better off in the long run financially than those who are not.
Q3) Industrial distributors are channel members that buy and do not take title to products.
A)True
B)False
Q4) What are the disadvantages of globalizing a company's supply chain?
Q5) How does the supply chain management of the mass production era differ from the supply chain management practiced today?
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Chapter 14: Retailing
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Q1) Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.
Q2) Briefly explain the actions a retailer should take to address retail product/service failures.
Q3) Henry runs Moonlight Café, a world renowned fast-food restaurant, in his locality. He started the restaurant after getting a license from Moonlight Café and by regularly paying it a fee for the right to use its brand name, products, and methods of operation. Henry most likely operates a(n) _____.
A)independent retail store
B)warehouse club
C)chain store
D)franchise
Q4) Providing great customer service is one of the most challenging elements in the retail mix because:
A)customer relations do not increase brand value.
B)customers are indifferent to service quality.
C)customer expectations for service vary greatly.
D)customers do not trust retail salespeople.
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Page 16
Chapter 15: Marketing Communications
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Sample Questions
Q1) Which of the following statements is true of communication?
A)It is a plan for the optimal use of the elements of promotion.
B)It is a strategic study of materials in order to form conclusions.
C)It is a systematic measurement of a subject's merits or shortcomings.
D)It is a process of sharing meaning through a common set of symbols.
Q2) Which of the following is a reason for the increasing popularity of the integrated marketing communications concept?
A)More selectively segmented markets have replaced the traditional broad market groups that marketers promoted to in years past.
B)Marketers have discontinued the use of online advertising because of its lack of measurability.
C)The proliferation of thousands of media choices beyond traditional television has made promotion easier.
D)Marketers have increased their advertisement spending for promotional techniques that generate gradual sales responses.
Q3) Explain the different stages of the product life cycle.
Q4) Describe informative promotion with examples.
Q5) Explain interpersonal and mass communication.
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Chapter 16: Advertising, Public Relations, and Sales Promotion
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Q1) Pioneering advertising is heavily used during the _____ of the product life cycle.
A)introductory stage
B)growth stage
C)formative stage
D)conception stage
Q2) Experiential marketing is the coordinated effort to handle the effects of unfavorable publicity, ensuring fast and accurate communication in times of emergency.
A)True
B)False
Q3) 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.
Q4) Explain the importance of media planning in advertising.
Page 18
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Chapter 17: Personal Selling and Sales Management
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Q1) When customers try to pit suppliers against each other to drive down the price of the product, the salesperson should offer an initial discount and raise the price later on.
A)True
B)False
Q2) Effective sales management begins with:
A)determining sales goals.
B)determining the most efficient structure for the sales force.
C)specifying the sales force size.
D)designing a compensation plan.
Q3) In the selling process, which of the following is true of the needs assessment of prospective clients by salespeople?
A)It should be carried out when the salesperson is developing the sales proposal.
B)It requires the salesperson be aware of regulation and legislation that affect the industry.
C)It ignores the impact of competition on the demand of the product being sold.
D)It does not give a comprehensive result for instances where relationship selling is used.
Q4) 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) As long as the ads are not overly intrusive, most users opt to play free versions of games with ads over paid versions that do not have ads.
A)True
B)False
Q2) Marla, a 55-year-old woman, needs to move out of town. She wants to connect with some of her old school friends and stay in touch with her ex-colleagues. In this case, which of the following is Marla most likely to use for this purpose?
A)SoundCloud
B)YouTube
C)Facebook
D)Flickr
Q3) Identify a true statement about online gaming.
A)Massive multiplayer online games attract 6- to 10-year-olds.
B)It restricts marketers from engaging with customers.
C)Many mobile games use advertising to generate revenue for the game developers.
D)Fantasy games are more appropriate for marketing than social and real-world-like games.
Q4) Explain the role of social media in marketing.
Q5) Explain the reasons for the recent popularity of mobile marketing.
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) Adequate distribution for a new product can often be attained by:
A)offering a larger-than-usual profit margin to distributors.
B)having different model or serial numbers for products.
C)allowing customers to get involved in showrooming.
D)increasing the prices of the products.
Q2) Riya saw a box of collector's edition comic books at Fournotts, a retail corporation. Each book was priced at $28.50, but a customer who bought five books was required to pay only $19.99 for each book. Riya bought one book and her friend bought five books. Fournotts' revenue from this purchase is _____.
A)$158.51
B)$19.99
C)$28.50
D)$128.45
Q3) Profit-oriented pricing objectives include _____.
A)target return on investment
B)target market share
C)meeting competitors' prices
D)status quo pricing
Q4) Explain the significance of market share as a sales-oriented pricing objective.
Q5) Discuss how shopping bots help consumers with their purchase decisions.
Page 21
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