Fundamentals of Marketing Final Exam
Course Introduction
Fundamentals of Marketing introduces students to the core principles and practices that drive effective marketing in today's dynamic business environment. The course covers essential concepts such as market research, consumer behavior, segmentation, targeting, positioning, product development, pricing strategies, distribution channels, and promotional tactics. Students will explore both traditional and digital marketing tools, gaining insight into how organizations create value, build customer relationships, and achieve competitive advantage. Through real-world case studies and practical assignments, this course lays the foundation for further study and professional application in the field of marketing.
Recommended Textbook
Marketing 17th International Edition by Hult and Ferrell
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21 Chapters
3942 Verified Questions
3942 Flashcards
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Page 2
Chapter 1: An Overview of Strategic Marketing
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) The marketing concept directly affects marketing activities but should have negligible impact on other organizational activities.
A)True
B)False
Answer: False
Q2) For an exchange situation to arise, only one condition must exist: two or more individuals, groups, or organizations must each possess something that they value and are willing to give up to receive the "something of value" held by the other individual, group, or organization.
A)True
B)False
Answer: False
Q3) A market orientation requires the organization-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments, and organization-wide responsiveness to it.
A)True
B)False
Answer: True
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3
Chapter 2: Planning Implementing and Evaluating Marketing Strategies
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153 Verified Questions
153 Flashcards
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Sample Questions
Q1) A marketing plan document usually begins with a(n) A)executive summary.
B)introduction to the company's marketing objectives.
C)summary of current performance as compared with past performance.
D)situation analysis.
E)opportunity and threat analysis.
Answer: A
Q2) Discuss how a firm's orientation is related to the development of its strategic plan. Answer: Answer not provided.
Q3) Marketing mix decisions must have two characteristics: consistency and timeliness.
A)True
B)False
Answer: False
Q4) Corporate strategy determines the means for utilizing resources in the functional areas of business to reach the organization's goals.
A)True
B)False
Answer: True
Page 4
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Chapter 3: The Marketing Environment
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Sample Questions
Q1) A recession is characterized by extremely high unemployment, very low wages, minimal total disposable income, and lack of consumer confidence in the economy.
A)True
B)False
Answer: False
Q2) During which stage of the business cycle is unemployment low and total income relatively high?
A)Repression
B)Prosperity
C)Recovery
D)Recession
E)Depression
Answer: B
Q3) Through technology assessment, managers try to foresee the effects of new products and processes on the firm's operations and on society.
A)True
B)False
Answer: True
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5
Chapter 4: Social Responsibility and Ethics in Marketing
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181 Flashcards
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Sample Questions
Q1) Define and describe the importance of social responsibility in marketing.
Q2) Which of the following refers to a firm's specific development, pricing, promotion, and distribution of products that do not harm the environment?
A)Marketing ethics
B)Social responsibility
C)Environmental marketing
D)Green marketing
E)Conservation marketing
Q3) In response to organizational pressure to perform, Barry used a deceptive sales tactic to obtain a major sales contract. He was surprised that he wasn't punished for his behavior and even received a substantial bonus for securing the contract. Given the same opportunity in the future, Barry will most likely
A)blow the whistle on his employer to a government agency.
B)report his employer to the industry's trade association.
C)express his discomfort with the situation to his supervisor.
D)not use similar sales tactic again.
E)use similar sales tactic again.
Q4) Define marketing citizenship and describe the impact of its dimensions on organizations.
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Chapter 5: Marketing Research and Information Systems
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190 Flashcards
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Sample Questions
Q1) In ____ sampling, there is no way to calculate the likelihood that a specific element of the population being studied will be chosen.
A)population
B)random
C)stratified
D)probability
E)nonprobability
Q2) Ethical conflict typically occurs because the parties involved in marketing research often have different objectives.
A)True
B)False
Q3) In quota sampling, all elements in a population have an equal chance of appearing in the sample.
A)True
B)False
Q4) Compare reliability and validity. Why are they important considerations in marketing research?
Q5) Discuss the role of the marketing information system in helping marketing managers make better decisions.
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Chapter 6: Target Markets: Segmentation and Evaluation
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204 Flashcards
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Sample Questions
Q1) A widely used system for classifying individuals on the basis of lifestyle is A)VALS.
B)PRIZM.
C)CMSA.
D)LIFO.
E)Prospect Zone.
Q2) Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?
Q3) Eighteen-year-old students do not form a market for alcoholic beverages because they
A)lack sufficient buying power to form a market.
B)lack the authority to purchase this type of product.
C)do not want to purchase this type of product.
D)do not have sufficient experience with this type of product.
E)lack the money to purchase this type of product.
Q4) Lifestyle analysis focuses on people's activities, interests, and opinions.
A)True
B)False
Q5) Would a person's political views be an effective variable with which to segment a market? Why or why not?
Page 8
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Chapter 7: Consumer Buying Behavior
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219 Verified Questions
219 Flashcards
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Sample Questions
Q1) The results of many studies have been inconclusive regarding the association between buyer behavior and A)personality.
B)perception.
C)motives.
D)social class.
E)learning.
Q2) Motives include knowledge and positive or negative feelings about an object.
A)True
B)False
Q3) Which of the following consumer problem-solving processes will probably be used in purchasing toothpaste?
A)Extended problem solving
B)Routinized response behavior
C)Intensive problem solving
D)Limited problem solving
E)Perceptual scanning
Q4) There are situational influences that cannot be controlled.
A)True
B)False
Page 9
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Chapter 8: Business Markets and Buying Behavior
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175 Flashcards
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Sample Questions
Q1) King Auto Supply sells car and truck parts, as well as tire replacement and balancing services. As King places its order for truck tires with Michelin, it must also place an order for valve stems and balancing weights for the tires. Such business products are characterized as having ____ demand.
A)derived
B)inelastic
C)joint
D)fluctuating
E)higher
Q2) Interpersonal dynamics are easy to observe and simple for the marketer to assess.
A)True
B)False
Q3) Business customers are forced to satisfy personal goals in pursuits that lie outside their jobs.
A)True
B)False
Q4) In what ways do environmental factors affect the business buying decision process?
Q5) How do individual factors affect the business buying decision process?
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Page 10
Chapter 9: Reaching Global Markets
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168 Flashcards
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Sample Questions
Q1) NAFTA simplifies country-of-origin rules, hindering Japan's use of Mexico as a staging ground for further penetration into U.S. markets.
A)True
B)False
Q2) When a firm's products sell in foreign countries with little or no effort to obtain foreign sales, the firm is engaging in
A)international marketing.
B)global marketing.
C)limited exporting.
D)product licensing.
E)unplanned exporting.
Q3) Firms that have operations or subsidiaries located in many countries are referred to as
A)multinational enterprises.
B)strategic alliances.
C)joint ventures.
D)international marketers.
E)export alliances.
Q4) Describe how economic and technological forces affect marketing strategies.
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Chapter 10: Digital Marketing and Social Networking
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181 Verified Questions
181 Flashcards
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Sample Questions
Q1) While social networks can be used to target customers, it is still easier to target precise consumer groups using traditional marketing media.
A)True
B)False
Q2) Commentators are people who comment on blogs or post ratings and reviews.
A)True
B)False
Q3) Digital media refers to the strategic process of distributing, promoting, pricing products, and discovering the desires of customers Internet using digital marketing.
A)True
B)False
Q4) ____ facilitates ____, as it enables customer engagement to facilitate product innovation.
A)Accessibility / customization
B)Addressability / relationship marketing
C)Accessibility / relationship marketing
D)Control / relationship marketing
E)Control / customization
Q5) In what ways can a company use YouTube to its advantage?
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Chapter 11: Product Concepts
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187 Flashcards
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Sample Questions
Q1) Promotion decreases in importance during a product's decline stage.
A)True
B)False
Q2) Frito-Lay, which is widely known for producing chips and other snack products, tried to introduce Frito-Lay lemonade. The reason this new product failed is likely because of A)poor timing.
B)the failure to match product offerings to customer needs.
C)technical problems.
D)overestimation of market size.
E)ineffective branding.
Q3) Failure of a new product is always absolute.
A)True
B)False
Q4) Nick Arnold's Auto Towing Service would best be described as a(n) ____ product.
A)convenience
B)unsought
C)specialty
D)durable
E)shopping
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Chapter 12: Developing and Managing Products
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166 Flashcards
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Sample Questions
Q1) Identify and describe the three major ways to modify existing products, and give an example of each.
Q2) Concept testing presents a small sample of potential buyers with a trial version of the new product to determine their initial reactions.
A)True
B)False
Q3) Marcellis is a product manager for a major electronics company. His current project is the development and introduction of a new smartphone. Since there are a number of smartphones currently out on the market, Marcellis is concerned about product failure. Currently, Marcellis and his team are in the screening phase of the new product development process. Has his team already passed the phase which is best able to measure the product failure concern?
A)Yes, the best phase is the idea screening phase.
B)Yes, the best phase is the concept testing phase.
C)No, the best phase is the business analysis phase.
D)Yes, the best phase is the test marketing phase.
E)No, the best phase is the test marketing phase.
Q4) What exactly is analyzed during the business analysis phase of new-product development?
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Chapter 13: Services Marketing
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202 Flashcards
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Sample Questions
Q1) Nonprofit organizations usually have more diverse groups to serve than do for-profit organizations.
A)True
B)False
Q2) What dimensions do customers use to evaluate service quality?
Q3) Troy is a service provider for a low-contact type of service. Which of the services below is Troy most likely to provide?
A)Childcare
B)Website design
C)Health care
D)Auto detailing
E)Personal trainer
Q4) Service quality is defined by compliance with a set of specifications.
A)True
B)False
Q5) Intangibility of services creates promotional challenges because it is difficult to display a service in a store and to demonstrate the quality of a service.
A)True
B)False
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Chapter 14: Branding and Packaging
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216 Flashcards
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Sample Questions
Q1) A trademark signifies
A)that the owner has exclusive use of a brand and others are prohibited from using it.
B)that a product was manufactured by a particular company.
C)the full and legal name of an organization.
D)the level of quality of a product based on its legally protected rights.
E)the inventive use of a brand name or brand mark to identify a company's products.
Q2) Marketers must follow packaging technology and legislation to make modifications that ensure consumer safety.
A)True
B)False
Q3) The amount of annual losses companies suffer from counterfeit products is estimated to be
A)$500-$800 million.
B)$3-$5 billion.
C)$30-$50 billion.
D)$250-$350 billion.
E)$600-$800 billion.
Q4) What is the relationship between brand loyalty and brand equity?
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Chapter 15: Marketing Channels and Supply Chain Management
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183 Flashcards
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Sample Questions
Q1) Bennetton, a leading manufacturer of knitwear in Italy, expanded its operations to include retail outlets in the United States and South America. This type of channel is called
A)horizontal integration.
B)vertical integration.
C)multilevel integration.
D)retail integration.
E)merchandising integration.
Q2) The notion of physical distribution is
A)speed of delivery.
B)used only by manufacturers.
C)the movement of products from producers to end users.
D)primarily the wholesaler's responsibility.
E)an assessment of distribution costs.
Q3) Order processing is defined as
A)the receipt and transmission of sales order information.
B)the second stage in a physical distribution system.
C)the four main tasks.
D)the same as order handling.
E)electronic processing of information.
Page 17
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Chapter 16: Retailing, Direct Marketing, and Wholesaling
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196 Verified Questions
196 Flashcards
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Sample Questions
Q1) Veronica Montez works for Bicardi at a location away from the manufacturing plants. She provides wholesale services to wholesale and retail customers, but her facility does not carry inventory. Veronica works at a A)sales branch.
B)manufacturers' agency.
C)sales office.
D)retail outlet.
E)commission brokerage.
Q2) Which of the following is an example of a category killer?
A)JCPenney
B)Walmart
C)Marshalls
D)Sams
E)Toys "R" Us
Q3) What should be considered when preparing a "party plan"?
Q4) Discuss some of the functions that full-service wholesalers provide. How do these differ from those that limited-service wholesalers provide?
Q5) Why would any specific retail store, such as PetSmart, be considered a category killer?
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Ashley is currently working on a video to introduce a new line of athletic wear for women. She is using signs and symbols to represent the concept and meaning of the new athletic wear. Ashley is most likely working on the ____ for this promotional video.
A)the communication strategy.
B)the coding process.
C)the decoding process.
D)the conversion process.
E)the communications channel.
Q2) The geographic distribution of a firm's customers can affect the combination of promotional methods used.
A)True
B)False
Q3) If integrated marketing communications works as intended, customers should receive clear and consistent messages.
A)True
B)False
Q4) The absolute dollar outlay for advertising is usually low.
A)True
B)False
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Chapter 18: Advertising and Public Relations
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Sample Questions
Q1) Colin McKinney, director of marketing for Greenwald Industrial Products, complains to his advertising director that the continuing slump in orders has apparently been perpetuated by the firm's failure to have the necessary advertising expenditures. Based on this information, Greenwald is most likely using the ____ approach to determine its advertising expenditures.
A)percent-of-sales
B)objective-and-task
C)competition-matching
D)arbitrary
E)judgmental
Q2) Brian and Tiffany are discussing the media plan for the opening of their new bar/laundromat called Soap and Suds. He tells her that while he agrees that ____ has tremendous impact, he does not feel that the upfront costs for such a campaign are in the modest budget that presently exists.
A)radio
B)outdoor
C)television
D)direct mail
E)newspaper
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Chapter 19: Personal Selling and Sales Promotion
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Sample Questions
Q1) Hannah is a retail salesperson for Crate and Barrel in Chicago. She is most likely classified as
A)an order getter.
B)support personnel.
C)trade salespeople.
D)an inside order taker.
E)a field order taker.
Q2) When Levi's agrees to pay JC Penney's money for providing television advertising and Sunday newspaper sales fliers emphasizing Levi's jeans, Levi's is offering
A)premium money.
B)cooperative advertising.
C)a dealer loader.
D)a buying allowance.
E)a merchandise allowance.
Q3) Current customers are sources of leads for finding prospective customers.
A)True
B)False
Q4) Identify and describe several ways to motivate sales personnel.
Q5) Explain the major issues to consider when developing a sales training program.
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Chapter 20: Pricing Concepts
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Sample Questions
Q1) Product demand usually becomes more elastic over time because more substitutes are found.
A)True
B)False
Q2) The degree to which the price of a product enhances a customer's satisfaction with the purchase experience and with the product after the purchase is part of their
A)response.
B)reference.
C)interpretation.
D)price satisfaction.
E)price-consciousness.
Q3) Michelin notices that when the number of tires it sells increases from 1,000,000 to 1,000,001, total revenue rises $35. The $35 represents the firm's
A)average revenue.
B)marginal revenue.
C)price elasticity.
D)average variable revenue.
E)average total cost.
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Chapter 21: Setting Prices
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Sample Questions
Q1) The use of market share as a pricing objective oversimplifies the value of price in contributing to profits.
A)True
B)False
Q2) Under Armour is establishing a ______ pricing objective to maintain or increase its product's sales in relation to total industry sales.
A)Return on investment
B)Survival
C)Product quality
D)Market share
E)Status quo
Q3) The role played by attitudes toward price in the overall evaluation of the marketing mix is a minor concern in identifying the target market.
A)True
B)False
Q4) Explain differential pricing and then describe the four major types.
Q5) What are some of the objectives a firm might hope to achieve when setting prices?
Q6) Explain the ethical implications of professional pricing.
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