Fundamentals of Marketing Final Test Solutions
Course Introduction
Fundamentals of Marketing introduces students to the core principles and concepts that drive the marketing world. The course covers essential topics such as market research, consumer behavior, segmentation, targeting, positioning, and the marketing mix (product, price, place, promotion). Students will explore various marketing strategies, the role of digital marketing in todays landscape, and ethical considerations in marketing practices. Through case studies, real-world examples, and practical assignments, students will gain a foundation in how businesses attract, engage, and retain customers, preparing them for advanced marketing courses and professional roles in the field.
Recommended Textbook
Marketing 2016 18th Edition by William M. Pride O.
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20 Chapters
4072 Verified Questions
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C. Ferrell
Chapter 1: An Overview of Strategic Marketing
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171 Verified Questions
171 Flashcards
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Sample Questions
Q1) Promotion can help sustain interest in established products that have long been available.
A)True
B)False
Answer: True
Q2) Changing the hours of operation for a service business involves the ____ component of the marketing mix.
A)product
B)price
C)distribution
D)promotion
E)marketing concept
Answer: C
Q3) Customers are the focal point of all marketing activities.
A)True
B)False
Answer: True
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Page 3
Chapter 2: Planning, Implementing, and Evaluating Marketing Strategies
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Sample Questions
Q1) You asked your stockbroker to consider buying some shares of Facebook, Inc. for your investment account. But, first you want to review the summary points in the SWOT analysis the stockbroker's firm did on the company. The following summary points were listed in the SWOT analysis: 1. Facebook has a reputation as a market leader and it is quickly establishing a formidable brand loyalty amongst its users."2. Because of its position in the industry, it risks incurring high costs associated with creating and marketing new products that are designed to perpetuate its industry leadership.These summary points suggest"
A)that Facebook's products are Cash Cows.
B)that Facebook has a first-mover advantage.
C)that Facebook's products are Question Marks.
D)that Facebook has a superior marketing strategy versus its peers.
E)that Facebook has a late-mover advantage.
Answer: B
Q2) A core competency is something a firm does extremely well-sometimes so well that it gives the company an advantage over its competition.
A)True
B)False
Answer: True
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Chapter 3: The Marketing Environment
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Sample Questions
Q1) In today's marketing environment, competitors can take on many forms. For example, Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum. In this circumstance, these two products are described as ____ competitors.
A)generic
B)product
C)total budget
D)monopolistic
E)pure
Answer: C
Q2) Shelby's new job with the federal government provides a comfortable income and a fairly stable income. She would like to buy a new car now that she has a job; however, Shelby hesitates to purchase a new car because she is concerned about how poor economic conditions may affect her position in the future. Shelby lacks
A)disposable income.
B)willingness to spend.
C)buying power.
D)credit.
E)discretionary income.
Answer: B
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Chapter 4: Social Responsibility and Ethics in Marketing
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Sample Questions
Q1) A _______________ orientation helps to redefine the marketers' focus by encouraging them to broadly considering those entities most impacted by the marketers' actions. Those entities include; employees, suppliers, regulators, shareholders, customers, and the community.
A)shareholder value
B)profit
C)market
D)stakeholder
E)compliance
Q2) At his new job, Carlos notices that everyone places high values on their families and each others' families, birthdays are always celebrated, and flexible schedules are permitted to facilitate family involvement as long as the work is still getting done. Everyone is very relaxed and friendly. Carlos has made several observations about the
A)organizational structure.
B)ethical climate.
C)morale and performance programs.
D)codes of conduct.
E)corporate culture.
Q3) How can a code of conduct encourage ethical behavior in an organization?
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Page 6
Chapter 5: Marketing Research and Information Systems
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Sample Questions
Q1) Carmen has been hired by a market research company to collect data about the drinking habits of 25 to 35-year old urban professionals. Carmen is to go to "happy hour" with a group of individuals and observe what type of alcoholic beverages they order, how often, and what brands. The data that Carmen will obtain is ______ and she will use ______ in its collection.
A)secondary; observation.
B)primary; personal interviews
C)primary; ethnographic
D)secondary; ethnographic.
E)primary; focus groups.
Q2) If Weight Watchers is interested in collecting information about Americans' perceptions of dieting programs, and the company believes that significant regional differences may exist, the best type of sampling would be
A)random.
B)quota.
C)population.
D)stratified.
E)nonquota.
Q3) How can companies use information technology as a competitive advantage?
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Chapter 6: Target Markets Segmentation and Evaluation
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206 Flashcards
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Sample Questions
Q1) Customer forecasting surveys as a means of forecasting sales are not appropriate for a firm that has relatively few customers.
A)True
B)False
Q2) Mia is pet-sitting for a friend's dog while he is on vacation. Her friend has given Mia all sorts of information, including the veterinarian's name and phone number, pet emergency center location, and the dog's favorite bedtime snack. The first evening of the vacation, Mia realizes that her friend did not bring the dog's food over, and she has no idea what the dog eats. Her friend's cell phone is "out of range" at the moment, so Mia must go to the grocery store and shop for dog food, even though she has never bought it before now. In this case, even though Mia is not a dog owner, she is likely to be part of the market for dog food for all of the following reasons except _______.
A)she has the authority to purchase the dog food.
B)she possesses the buying power for purchasing dog food.
C)she has the need or desire for dog food.
D)her ability to purchase the dog food is questionable.
E)she is willing to use her buying power.
Q3) How do business markets differ from consumer markets?
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Chapter 7: Consumer Buying Behavior
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Sample Questions
Q1) One's personality is a set of internal traits and distinct behavioral tendencies that result in consistent patterns of behavior in certain situations.
A)True
B)False
Q2) Situational influences generally have the greatest influence during the initial stage of the consumer buying decision process.
A)True
B)False
Q3) Beth Hines is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of decision-making process is she using?
A)Selective
B)Intensive
C)Extended
D)Shopping
E)Routinized
Q4) What is Maslow's hierarchy of needs? How does it apply to the consumer buying decision process?
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Chapter 8: Business Markets and Buying Behavior
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Sample Questions
Q1) What are the four major factors that influence business buying decisions?
A)Environmental, organizational, interpersonal, and individual
B)Environmental, organizational, psychological, and individual
C)Environmental, psychological, individual, and technological
D)Technological, organizational, environmental, and interpersonal
E)Environmental, organizational, technological, and individual
Q2) Business purchasing agents may indirectly contribute to the satisfaction of their own personal needs by helping their firms achieve organizational objectives.
A)True
B)False
Q3) Demand for business products is characterized as derived. From what is the demand derived?
A)Industrial demand
B)Modified demand
C)Demand for consumer products
D)Future product demand
E)The business cycle
Q4) What are some of the major concerns of business customers in making purchase decisions?
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Chapter 9: Reaching Global Markets
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Sample Questions
Q1) Selling products that are not in demand in all world markets, such as hand-powered washing machines for use in countries where electricity is not universally available, represents an international marketing strategy focusing on A)internationalization.
B)culturalization.
C)nationalization.
D)globalization.
E)customization.
Q2) Levi Strauss markets its denim jeans in many countries and develops its marketing strategy as if the world were a single market. This approach to selling a standardized product in all countries represents which type of international marketing?
A)Exporting
B)Accidental exporting
C)Limited exporting
D)Licensing
E)Globalization of markets
Q3) An embargo occurs when a government suspends trade with a particular country.
A)True
B)False
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Chapter 10: Digital Marketing and Social Networking
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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) ____ involves the use of digital networks to provide linkages between information providers and users.
A)Accessibility
B)Addressability
C)Interactivity
D)Connectivity
E)Control
Q3) Johnson & Johnson learns about consumer needs by understanding the environment in which a product is used and the different applications of the product. The company uses ____ as a research tool to gain this information.
A)futurism
B)social networking
C)give-aways
D)promotional events
E)sponsorship
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Page 12
Chapter 11: Product Concepts, Branding and Packaging
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375 Flashcards
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Sample Questions
Q1) Business products that are purchased routinely, do not become part of finished goods, and are expense items rather than capital goods are called
A)raw materials.
B)installations.
C)accessory equipment.
D)component parts.
E)process materials.
Q2) To make intangible products more tangible or real to the consumer, marketers often A)use low prices on intangible goods.
B)use symbols or cues to help symbolize product benefits.
C)use external reference prices.
D)use multiple channels of distribution.
E)offer more support services with such products.
Q3) Per-unit gross margins on convenience products are relatively high.
A)True
B)False
Q4) What is a product? Provide an example of each type of product.
Q5) Discuss some of the issues a marketer should consider when marketing a shopping product.
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Chapter 12: Developing and Managing Products
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Sample Questions
Q1) A new variety of Doritos is initially introduced in Ft. Worth, Texas; Columbia, South Carolina; Peoria, Illinois; and Spokane, Washington. After its initial success, Frito Lay markets the Doritos in those entire states, then the adjacent states, and finally the entire country. Frito-Lay is using a ____ for its new variety of Doritos.
A)multi-stage introduction
B)roll-out approach
C)test-market expansion
D)mass commercialization
E)trickle-down approach
Q2) Refer to Scenario 12.1. Suppose that Cheetos stops production of Cheetos Fat-free Crunchies and sells all of its remaining inventory to a warehouse club. This would be an example of a(n)
A)strategy for the maturity phase.
B)phase out product deletion strategy.
C)immediate-drop decision.
D)pullout product deletion policy.
E)return to test marketing.
Q3) List and discuss the major phases of the new-product development process.
Q4) Discuss the major approaches that marketers use to differentiate their products.
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Chapter 13: Services Marketing
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Sample Questions
Q1) Some services are time sensitive, meaning that a significant number of customers desire the service around the same time. This point in time is called
A)peak demand.
B)preferred demand.
C)off-peak demand.
D)high-contact time.
E)high intensity time.
Q2) How can a service marketer smooth the fluctuations in demand from times of peak demand to times of off-peak demand?
Q3) Which of the following service characteristics results in variability of service quality yet provides the opportunity for customizing services to match the specific needs of individual customers?
A)Homogeneity
B)Perishability
C)Heterogeneity
D)Intangibility
E)Inseparability
Q4) Explain the role of "promises" and "trust" in the successful marketing of a service.
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Chapter 14: Marketing Channels and Supply-Chain Management
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Sample Questions
Q1) Vertical channel integration
A)results in two or more different management teams for each member of the channel.
B)is made possible when a large corporation divests itself of smaller subsidiaries.
C)is a shift back to the conventional channel of distribution.
D)combines institutions at the same level of operation.
E)is made possible by purchasing the operations of a link in the channel.
Q2) For which of the following products would exclusive distribution be most appropriate?
A)Gasoline
B)Rolls Royce automobile
C)Ray-Ban sunglasses
D)Louis Vitton luggage
E)Harley-Davidson motorcycle
Q3) Supply chain management combines two or more stages of the marketing channel under one management.
A)True
B)False
Q4) Describe the three forms of vertical marketing systems.
Page 16
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Chapter 15: Retailing, Direct Marketing and Wholesaling
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Sample Questions
Q1) Discuss some of the functions that full-service wholesalers provide. How do these differ from those that limited-service wholesalers provide?
Q2) The type of retail location that is commonly being preserved and revitalized in many cities is the
A)traditional business district.
B)free-standing structure.
C)community shopping center.
D)neighborhood shopping center.
E)nontraditional shopping center.
Q3) Manufacturers' agents offer products that are both
A)noncompeting and complementary.
B)competing and specialized.
C)unrelated and noncompeting.
D)complementary and competing.
E)unrelated and competing.
Q4) Exterior atmospheric elements include the appearance of the storefront, display windows, store entrance, and amount of traffic congestion.
A)True
B)False
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Chapter 16: Integrated Marketing Communications
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Sample
Questions
Q1) Retro64 distributes free downloadable versions of its computer games for a very short time. These efforts have a primary promotional objective of
A)encouraging product trial.
B)stimulating demand.
C)identifying prospects.
D)creating awareness.
E)reducing sales fluctuations.
Q2) Newspaper ads for Blue Haven Pools offer discounted prices during October and discounted cleaning supplies for hot tubs in March, are examples of which of the following uses of promotion?
A)Retaining loyal customers
B)Promoting new product uses
C)Making salespeople more effective
D)Stimulating primary demand
E)Reducing sales fluctuations
Q3) Advertising is one element of the promotion mix that is too expensive for small business firms.
A)True
B)False
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Page 18
Chapter 17: Advertising and Public Relations
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Sample Questions
Q1) Refer to Scenario 17.2. If State Farm were to decide that its previous method of appropriating the advertising budget was ineffective, it could decide to allocate 2 percent of its total annual sales to advertising. However, one problem with this method is that
A)it makes the bookkeeping too difficult.
B)it is tied too closely to sales forecasts.
C)a sales decline leads to an increase in the advertising appropriation.
D)a drop in sales would cause a drop in the advertising budget.
E)competitors may have different advertising objectives.
Q2) Why should a benchmark statement be included in advertising objectives?
A)Shareholders want to see where a company is in relation to competition.
B)It is useful in determining whether retailers have increased their sales over the year.
C)It gives an indication of how the advertising message is best presented.
D)Without a reference point, it is difficult to determine to what degree objectives have been accomplished.
E)Objectives become more easily attainable when such a statement is included.
Q3) What are the components of a print ad? What are the functions of each component?
Q4) What is an advertising platform? What is the best way to develop a platform?
Q5) What is public relations and for what purposes is it used?
Page 19
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Chapter 18: Personal Selling and Sales Promotion
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Sample Questions
Q1) Which of the following is an example of a trade sales promotion method?
A)Frequent-user incentives
B)Point-of-purchase displays
C)Retailer coupons
D)Free merchandise
E)Money refunds
Q2) While anticipating objections and countering them before they are asked is a good idea, one negative consequence of doing so is that the salesperson may A)annoy the customer.
B)mention objections the customer had not thought of.
C)take too long in trying to sell the product, and the customer may stop listening.
D)not emphasize its features and benefits enough.
E)begin to lie about the product.
Q3) Personal selling is generally the most expensive element in the promotion mix.
A)True
B)False
Q4) List the three major types of salespeople and indicate how they differ.
Q5) Discuss the purpose of coupons in sales promotion.
Q6) Identify and discuss some of the key objectives in using sales promotion.
Page 20
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) Which of the following is true about non-price competition?
A)A major advantage of non-price competition is flexibility.
B)Non-price competition does not allow the marketer to build brand loyalty.
C)Price wars may result from non-price competition.
D)In non-price competition, marketers distinguish their brands with unique product features.
E)In non-price competition, marketers do not use promotion.
Q2) Refer to Scenario 19.1. If Concession Supply increased its price by 10 percent and experienced only a 2 percent decrease in the demand for hotdogs, the demand would be
A)inelastic.
B)common.
C)prestige.
D)elastic.
E)marginal.
Q3) Setting prices for business customers is very similar to setting prices for consumers.
A)True
B)False
Q4) Why is the marginal revenue of a product important to the marketer?
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Chapter 20: Setting Prices
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Sample Questions
Q1) Two types of new-product pricing are price skimming and product-line pricing.
A)True
B)False
Q2) A firm that considers costs and revenue secondary to competitors' prices when setting its own prices is using a competition-based pricing strategy.
A)True
B)False
Q3) If an organization sets prices to recover research and development expenses and establish a premium quality image for its product, it would be using a ____ pricing objective.
A)survival
B)return on investment
C)market share
D)product quality
E)cash flow
Q4) Random discounting means discounting various products on a systematic basis.
A)True
B)False
Q5) Identify and describe the four types of product-line pricing.
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