Essentials of Marketing Test Preparation
Course Introduction
Essentials of Marketing introduces students to the core concepts, principles, and strategies involved in the modern marketing environment. The course covers fundamental topics such as market research, consumer behavior, product development, pricing strategies, promotion, and distribution channels. Students will explore how organizations identify and meet customer needs in competitive markets while building strong brand value and maintaining ethical standards. Through case studies and practical examples, students gain a foundational understanding of the marketing mix and its role in achieving organizational objectives.
Recommended Textbook
Marketing 13th Edition by Roger Kerin
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24 Chapters
6443 Verified Questions
6443 Flashcards
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Chapter 1: Creating Customer Relationships and Value
Through Marketing
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240 Verified Questions
240 Flashcards
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Sample Questions
Q1) Which of the following is an example of possession utility?
A)an iPhone with a large selection of new apps
B)the local dairy that offers to deliver bottles of milk to a customer's doorstep
C)disposable diapers that come equipped with resealable tabs
D)a gourmet food store that carries a line of ready-made salads
E)a mobile phone company that offers six-month financing, same as cash
Answer: E
Q2) The element of the marketing mix that describes a means of getting the product to the consumer is known as
A)a product.
B)the price.
C)promotion.
D)the place.
E)the process.
Answer: D
Q3) Define the marketing concept.
Answer: The marketing concept is the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
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Chapter 2: Developing Successful Organizational and Marketing Strategies
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Sample Questions
Q1) In a marketing context, goal setting involves setting measurable __________ to be achieved.
A)marketing metrics
B)marketing objectives
C)marketing tactics
D)marketing plans
E)protocols
Answer: B
Q2) With the arrival of tablet devices, such as Apple's iPad in 2010, growth in the global PC industry has slowed considerably and sales were expected to be declining by 2016. If a firm offering a range of PCs had slightly increased its global unit market share of PC sales from 10 to 12 percent, the company should be concerned that this product is becoming a
A)question mark.
B)star.
C)hedgehog.
D)cash cow.
E)dog.
Answer: E
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Chapter 3: Scanning the Marketing Environment
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Sample Questions
Q1) The total amount of money made in one year by a person, household, or family unit is referred to as __________ income.
A)government
B)discretionary
C)disposable
D)gross
E)livable
Answer: D
Q2) There are many diet aids on the market. They promise immediate weight loss without exercise or a change in diet. Each is accompanied by a testimonial from a satisfied user. If you pay close attention, you will notice that each ad also contains the statement, "Results may vary." Most likely this statement is included to prevent the Federal Trade Commission (FTC) from requiring the dietary aid distributor from having to
A)engage in self-regulation.
B)engage in comparative advertising.
C)issue an advertising injunction.
D)guarantee truth in advertising.
E)run corrective advertising.
Answer: E
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5
Chapter 4: Ethical and Social Responsibility for Sustainable Marketing
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Sample Questions
Q1) Ethical exchanges between sellers and buyers should result in
A)the seller making a profit at the expense of the buyer.
B)the buyer getting the product for the best price at the expense of the seller.
C)both parties to the exchange being better off after a transaction.
D)the seller offering buyers its products and services at cost, especially during a period of recession.
E)the buyer forming a strategic alliance with the seller.
Q2) __________ is often disguised as gifts, consultant fees, and favors, but is used to gain an unethical advantage over competitors.
A)Economic espionage
B)Utilitarianism
C)Business intelligence
D)Oligopoly
E)Bribery
Q3) A code of ethics is a formal statement of ethical principles and A)legal restrictions.
B)rules of conduct.
C)cultural values.
D)core values.
E)moral laws.
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Chapter 5: Understanding Consumer Behavior
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Sample Questions
Q1) The actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions, are referred to as
A)purchase intentions.
B)market research.
C)consumer behavior.
D)consumer conduct.
E)purchase protocols.
Q2) In the Maslow hierarchy of needs, those needs that are represented by the need for achievement, status, prestige, and self-respect are referred to as __________ needs.
A)physiological
B)safety
C)personal
D)social
E)self-actualization
Q3) How might Ford Motor Co. apply the three methods of attitude change in its marketing activities?
Q4) Define consumer socialization.
Q5) Define motivation and personality and how they impact marketing.
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Chapter 6: Understanding Organizations As Customers
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Sample Questions
Q1) When Trek orders a seat or saddle for one of its models that has a slightly different material for the cover only but the other components are the same as existing saddles used on other bikes, this purchase situation is known as a A)new buy.
B)straight rebuy.
C)standard reorder.
D)modified rebuy.
E)make-buy.
Q2) If a purchase is a new buy for a manufacturer, the seller should expect to
A)have to do some favors for the decision makers.
B)anticipate a great deal of conflict.
C)accommodate unlimited specification change before the buy is completed.
D)work with the buyer's technical personnel.
E)avoid making concessions or compromises.
Q3) The reseller market includes
A)manufacturers.
B)logistics and supply chain providers.
C)government agencies.
D)end-user service providers.
E)retailers and wholesalers.
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Chapter 7: Understanding and Reaching Global
Consumers and Markets
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Sample Questions
Q1) Gray market refers to
A)the segment of products specifically designed for the need of older buyers.
B)a once active and powerful market that is rapidly becoming the bottom of the barrel.
C)a situation where products are sold through unauthorized channels of distribution.
D)a pricing structure that is based upon haggling that is considered acceptable in some countries but not others.
E)the willingness of one party to accept gifts in exchange for better prices or price allowances.
Q2) A researcher studying the fact that in some nations black is a sign of mourning while in others white is a sign of mourning would be studying
A)semiotics.
B)semantics.
C)semaphorics.
D)cultural symbolism.
E)cultural linguistics.
Q3) What is meant by the term economic infrastructure and how can this affect a firm's plans to enter a global market?
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Page 9
Chapter 8: Marketing Research: From Customer Insights to Actions
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Sample Questions
Q1) A(n) __________ scale is a five-point scale in which the opposite ends have oneor two-word adjectives that have opposite meanings.
A)dichotomous
B)open-ended
C)Likert
D)attitudinal
E)semantic differential
Q2) A survey of buyers' intentions forecast involves
A)starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast.
B)making decisions without any intervening steps.
C)asking prospective customers if they are likely to buy the product during some future time period.
D)asking the firm's salespeople to estimate sales during a coming period.
E)selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.
Q3) What is data mining and why is it used in marketing research?
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Chapter 9: Market Segmentation Targeting and Positioning
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Sample Questions
Q1) What are the criteria used to select target markets?
Q2) Which of the following is a consumer market demographic segmentation variable?
A)personality
B)gender
C)usage rate
D)needs
E)region
Q3) All of the following are criteria used for forming market segments except
A)difference of needs of buyers among segments.
B)potential for increased profit.
C)cost of reaching the segment.
D)potential of a marketing action to reach a segment.
E)simplicity and cost-effectiveness of assigning potential buyers to segments.
Q4) There are five steps involved in segmenting and targeting markets. What should a marketer do after he or she has grouped products to be sold into categories?
A)Create product groupings.
B)Identify market needs.
C)Take marketing actions to reach target markets.
D)Develop a market-product grid and estimate size of markets.
E)Form prospective buyers into market segments.
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Chapter 10: Developing New Products and Services
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Sample Questions
Q1) The division of products into durable and nondurable goods helps to
A)comply with NAICS guidelines.
B)address environmental concerns.
C)comply with ISO 9000 requirements.
D)classify products for tax purposes.
E)provide direction for marketing actions.
Q2) Product line refers to
A)a product and all its ancillary services (warranties, financing, etc.).
B)the variations within a product class.
C)a specific product SKU that has a unique brand, size, or price.
D)a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range.
E)the entire product category or industry.
Q3) Explain the differences in promotion between convenience, shopping, specialty, and unsought products.
Q4) What are the four types of consumer products? How do they differ?
Q5) Describe the different ways to define a product as new.
Q6) How can a firm use a test market in its new-product development process?
Page 12
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Chapter 11: Managing Successful Products Services and Brands
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390 Flashcards
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Sample Questions
Q1) Which of the following barriers does downsizing try to combat when consumers will adopt a new product or repurchase an existing one?
A)risk barriers
B)usage barriers
C)feature bloat barriers
D)psychological barriers
E)value barriers
Q2) The desire for a product class rather than for a specific brand is called __________ demand.
A)selective
B)primary
C)derived
D)generic
E)secondary
Q3) The preference for a specific brand is called __________ demand.
A)selective
B)secondary
C)primary
D)derived
E)generic
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Chapter 12: Services Marketing
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Sample Questions
Q1) Customers will often judge the __________ of the service experience based on the performance of the people providing the service.
A)price
B)productivity
C)process
D)quality
E)physical environment
Q2) Relationship marketing provides several benefits for service customers, including: (1) __________, (2) customized service delivery, (3) reduced stress due to a repetitive purchase process, and (4) an absence of switching costs.
A)the continuity of a single provider
B)no need for comparison shopping
C)discounted switching costs
D)implied warranties
E)strict government quality performance guidelines
Q3) What aspect of the product/service element of the marketing mix warrants special attention by service marketers?
Q4) What role does price play in the managing of services?
Q5) What is internal marketing? Why is it important in services marketing?
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Chapter 13: Building the Price Foundation
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Sample Questions
Q1) Pure competition is the competitive situation where
A)many sellers follow market price for identical, commodity products.
B)one seller sets the price for a unique product.
C)few sellers are sensitive to one another's prices.
D)many sellers compete on nonprice factors.
E)one or few sellers compete solely on nonprice factors.
Q2) According to the price equation, final price equals __________ minus incentives and allowances plus extra fees.
A)salaries
B)list price
C)profits
D)trade-ins
E)taxes
Q3) For the sake of simplicity and by convention, price elasticity figures are shown as
A)positive numbers (0.64, 1.25, etc.).
B)negative numbers (-0.64, -1.25, etc.).
C)Greek letters ( , , etc.).
D)Roman numerals (I, V, X, etc.).
E)English consonants (P, Q, TR, etc.).
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Chapter 14: Arriving at the Final Price
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Sample Questions
Q1) What type of discount would Toro, a domestic yard machinery company, most likely offer its channel members to carry and sell its riding lawn mowers during the winter?
A)noncumulative discounts
B)cumulative discounts
C)functional discounts
D)seasonal discounts
E)trade discounts
Q2) What is experience curve pricing and how does it relate to marketing strategies?
Q3) In some cases, manufacturers design products for different price points and retailers apply __________ to achieve the three or four different price points offered to consumers.
A)progressively higher markup percentages
B)different markup percentages depending on how long the item remains on their shelves
C)above-, at-, or below-market pricing
D)approximately the same markup percentages
E)elasticity of demand pricing calculations
Q4) What are the two general methods for quoting prices related to transportation costs? Explain how each is used.
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Chapter 15: Managing Marketing Channels and Supply Chains
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Sample Questions
Q1) Which of the following statements regarding corporate vertical marketing systems is most accurate?
A)Corporate vertical marketing systems can use either forward integration or backward integration but not both.
B)Corporate vertical marketing systems increase distribution costs.
C)Corporate vertical marketing systems increase investment but decrease fixed costs.
D)Corporate vertical marketing systems are only effective with low-end consumer products.
E)Corporate vertical marketing systems offer more control over supply sources or resale of products.
Q2) Manufacturers most likely would use exclusive distribution for which of the following products?
A)Timex watches, Hanes underwear, and Nike shoes
B)Chanel perfume, Steinway pianos, and Baccarat crystal
C)Oreos, Teddy Grahams, and Nilla Wafers
D)paper clips, light bulbs, and file folders
E)Lean Cuisine meals, Breyer's Ice Cream, and Coca-Cola
Q3) What are some specific cost trade-offs that can be made in a logistics system?
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Chapter 16: Retailing and Wholesaling
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Sample Questions
Q1) Intermediaries that represent a single producer and are responsible for designing promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as A)brokers.
B)line brokers.
C)distribution brokers.
D)selling agents.
E)manufacturer's agents.
Q2) QVC is a television home shopping network. It generates sales of more than $8 billion from its 60 million customers by
A)restricting purchases only through its Mall of America studio.
B)broadcasting live 12 hours a day 365 days a year.
C)offering more than 1,000 products each week.
D)offering overstocked items from retailers at a fraction of the original cost.
E)running live podcasts and live streaming over the Internet.
Q3) What is category management and when is it used?
Q4) Briefly describe the three ways retail outlets can be classified.
Q5) Name the four utilities offered by retailers and identify a retailer that provides that utility.
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Chapter 17: Integrated Marketing Communications and Direct Marketing
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Sample Questions
Q1) Communication with consumers who are not in the target audience is referred to as
A)excess coverage.
B)wasted coverage.
C)exhaustive coverage.
D)squandered coverage.
E)dissipated coverage.
Q2) In the prepurchase stage of the consumer purchase decision process, which promotional element is most important?
A)public relations
B)communication
C)advertising
D)sales promotion
E)personal selling
Q3) What are the strengths/advantages and weaknesses/disadvantages of using publicity in the promotional mix?
Q4) What are the strengths/advantages and weaknesses/disadvantages of using sales promotion in the promotional mix?
Q5) Explain what the hierarchy of effects is. List and explain the five stages.
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Chapter 18: Advertising Sales Promotion and Public Relations
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Sample Questions
Q1) The use of deceased celebrities such as John Wayne or Fred Astaire in commercials
A)creates a humorous appeal.
B)avoids the possibility of a spokesperson's image changing.
C)creates a fear appeal.
D)creates a product ambience that limits its appeal to older consumers.
E)targets the Gen Y consumer.
Q2) One disadvantage of using magazines as an advertising medium is
A)the inability to target specific audiences.
B)the long lead time needed to place an ad.
C)the extremely low cost.
D)the antagonism with environmentalists.
E)the lack of noise associated with their use in the communication channel.
Q3) Google's first search engine was called
A)Pack Rat.
B)BackRub.
C)Rub Down.
D)Black Eye.
E)Googolplex.
Q4) Describe the three forms of product advertisements. What are their objectives?
Page 20
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Chapter 19: Using Social Media and Mobile Marketing to
Connect With Consumers
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Sample Questions
Q1) A company paying a set amount to Facebook for every time a user clicks on its ad is using __________ as a performance measure, whereas a company that pays for every 1,000 times its ad loads on a Facebook page and people may see it is using __________ as a performance measure.
A)variable fee; fixed fee
B)cost per click; cost per thousand
C)fixed fee; variable fee
D)cost per thousand; cost per click
E)traditional cost; social media cost
Q2) Which of the following statements about Facebook is most accurate?
A)Facebook is the third most-used social network.
B)Facebook has a global presence-one in every five people on the planet use this site.
C)Facebook has almost 80 million active users.
D)Facebook lets people keep in touch through long text entries similar to e-mail.
E)Facebook is just as successful as Twitter.
Q3) What is meant by "convergence" of real and digital worlds? What are some of the marketing actions a brand manager can take in the convergence of the real and digital worlds?
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Chapter 20: Personal Selling and Sales Management
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Sample Questions
Q1) At the end of her sales presentation, the salesperson asks, "Do you want to make monthly payments of $75 with a 10 percent down payment or will you be writing a check for the full amount today?" She has just made __________.
A)an assumptive close
B)a consultative close
C)a proactive close
D)an urgency close
E)an adaptive close
Q2) A salesperson who processes routine orders or reorders for products that were already sold by the company is referred to as
A)an order getter.
B)a missionary salesperson.
C)an order taker.
D)a sales engineer.
E)an order processor.
Q3) Explain the difference between personal selling and sales management.
Q4) Explain what occurs during the closing stage of the selling process and list the three types of close.
Q5) What assumption does the stimulus-response presentation format make?
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Chapter 21: Implementing Interactive and Multichannel Marketing
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Sample Questions
Q1) What two unique capabilities of Internet technology promote and sustain customer relationships?
Q2) Some websites enable a user to talk directly with a customer representative using an "online chat" feature while shopping on the site. This is an example of the __________ website design element.
A)convenience
B)connection
C)control
D)community
E)communication
Q3) Reebok, Schwab, Dell, and Seven Cycles are all examples of companies that have been very successful because of their ability to __________ their products and services for their online customers and also personalize the marketing and overall shopping and buying interaction for them.
A)dispense
B)recommend
C)finance
D)distribute
E)customize
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Chapter 22: Pulling It All Together: the Strategic Marketing Process
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Sample Questions
Q1) Disruptive innovations cause havoc for an organization's
A)short-term marketing plans.
B)marketing research plans.
C)SWOT analysis.
D)long-range marketing plans.
E)environmental scanning.
Q2) Share point refers to
A)the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
B)the percentage points of market share used as the common basis of comparison in an analysis to allocate marketing resources effectively for different product lines within the same firm.
C)the sales revenue generated by different products within the firm expressed as a percentage.
D)a measure of the quantitative value or trend of a marketing activity or result divided by the total marketing effort of the firm.
E)the total number of a product sold in one year compared to the cumulative total sold since its introduction, expressed as a percentage.
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Chapter 23: Financial Aspects of Marketing
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Sample Questions
Q1) __________ is the financial ratio that measures the ability of a firm to move its inventory quickly.
A)Markup
B)Selling price
C)Return on investment
D)Stock turn rate
E)Markdown
Q2) All of the following are operating ratios used to set a price for an offering except A)stock turns.
B)ROI.
C)market share.
D)markdown.
E)markup.
Q3) Gross sales minus returns and allowances for a firm are called its A)inventory shrinkage.
B)discounted return on investment.
C)gross sales.
D)net sales.
E)gross margin.
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Chapter 24: Building an Effective Marketing Plan
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Q1) Elements in a marketing plan depend on who the audience is and what the purpose is. For example, the marketing plan for an external audience would
A)give a broad general overview.
B)function as a sales document.
C)be more informally written.
D)be directed to the people who would be affected by it.
E)be directed to the people who must implement the plan.
Q2) Which of the following did Paradise Kitchens considered an opportunity?
A)unique, high-quality, high-price products
B)many lower-quality, lower-price competitors
C)lack the economies of scale of huge competitors
D)Consumer income is high and convenience is important to U.S. households.
E)more households "eating out" and bringing prepared take-out into the home
Q3) The marketing program section of a marketing plan consists of
A)the four marketing mix elements.
B)the five environmental forces.
C)the financial forecasts for the industry and the company itself.
D)the target market identification and market segment selection.
E)the specific steps that will be taken to implement the plan.
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Page 26