Fundamentals of Marketing
Midterm Exam
Course Introduction
Fundamentals of Marketing introduces students to the core principles, concepts, and practices that drive marketing in today's dynamic business environment. The course explores the roles of market research, consumer behavior, segmentation, targeting, positioning, and the development of effective marketing strategies. Students learn about the marketing mix (product, price, place, promotion) and how marketers create value and build strong customer relationships. By examining real-world examples and case studies, learners gain foundational knowledge essential for understanding how marketing influences both organizations and society, preparing them for more advanced marketing courses and practical applications in various industries.
Recommended Textbook Marketing 17th International Edition by Hult and Ferrell
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Chapter 1: An Overview of Strategic Marketing
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Sample Questions
Q1) The forces of the marketing environment primarily affect marketers in three ways: They influence customers by affecting their lifestyles and preferences for products; they determine whether or how a marketing manager can perform certain marketing activities; and they
A)affect a marketing manager's decisions and actions by influencing buyers' reactions to the firm's marketing mix.
B)dictate that changes be made to the existing marketing mix despite any negative reactions from customers.
C)make most new products obsolete very quickly so that research and development must continually develop new products.
D)cause most advertising to be ineffective at communicating product benefits due to rapidly changing environmental forces.
E)change a customer's decisions about the appropriate marketing mix for the company and its various products.
Answer: A
Q2) Discuss the concept of green marketing and why it is important to marketers. Answer: Answer not provided.
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Chapter 2: Planning Implementing and Evaluating Marketing Strategies
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Sample Questions
Q1) All marketing mix decisions must have two characteristics: ____ and ____.
A)consistency; flexibility
B)consistency; rigidity
C)formality; flexibility
D)variability; flexibility
E)formality; rigidity
Answer: A
Q2) Which of the following is a characteristic of a marketing objective?
A)It is consistent with both business-unit and corporate strategy.
B)It is a verbal agreement, not in writing.
C)It is not written in measurable terms.
D)It does not specify a time frame for its accomplishment.
E)It clearly identifies how marketing strategy will be implemented.
Answer: A
Q3) 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) The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in
A)legislation.
B)lobbying.
C)self-regulation.
D)environmental scanning.
E)trade restraint.
Answer: C
Q2) Companies that market products with similar features, benefits, and prices to the same customer group are known as ____ competitors.
A)generic
B)product
C)brand
D)total budget
E)monopolistic
Answer: C
Q3) Contrast recession and depression.
Answer: Answer not provided.
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Chapter 4: Social Responsibility and Ethics in Marketing
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Sample Questions
Q1) A marketing ethics issue likely exists when
A)company members disagree about a marketing decision.
B)an activity does not benefit the organization but benefits the environment.
C)an activity results in increased prices for the consumer.
D)a consumer is dissatisfied with a marketing decision.
E)an individual or organization must choose from among several actions that must be evaluated as right or wrong.
Q2) Which of the following is not one of the four dimensions of social responsibility presented in your text?
A)Consumerism
B)Philanthropic
C)Ethical
D)Economic
E)Legal
Q3) Codes of conduct (ethics) are formalized rules and standards that describe what the company expects of its employees in terms of ethical behavior.
A)True
B)False
Q4) How can a code of conduct encourage ethical behavior in an organization?
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Chapter 5: Marketing Research and Information Systems
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Sample Questions
Q1) The main focus of a marketing information system is on
A)the coordination of external information sources.
B)classifying data into the proper information categories.
C)data storage and retrieval.
D)the accurate maintenance of inventory levels.
E)gathering information on competitive activity.
Q2) When conducting marketing research in another country, researchers should begin by using focus groups and other survey methods to refine their understanding of customer needs and preferences.
A)True
B)False
Q3) An item on the University Book Store's survey asks respondents to tell the store, in their own words, what they like least about textbook shopping. This item would be an example of a(n) ____ question.
A)open-ended
B)dichotomous
C)forced-sum-choice
D)multiple-choice
E)limited-choice
Q4) How does marketing research differ when conducted in other countries?
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Chapter 6: Target Markets: Segmentation and Evaluation
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Sample Questions
Q1) Trend analysis is a sales forecasting technique based on historical sales data.
A)True
B)False
Q2) Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.
A)multiuse
B)differentiated
C)stratified
D)undifferentiated
E)concentrated
Q3) The ways in which customers use a particular product may be a basis for segmenting the market.
A)True
B)False
Q4) Why is it important for marketers to assess competitors before entering a market segment?
Q5) What are the major steps of the target market selection process?
Q6) Would a person's political views be an effective variable with which to segment a market? Why or why not?
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Chapter 7: Consumer Buying Behavior
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Sample Questions
Q1) Consumers' buying decisions are not affected by other people.
A)True
B)False
Q2) Abercrombie & Fitch is developing a program to get to know its customers. Which of the following is not a reason why A&F needs to understand consumer buying behavior?
A)customer's reactions to marketing strategy can impact the firm's success
B)all customers are the same when it comes to buying behavior
C)a firm should create a marketing mix that satisfies customers
D)it helps the marketer predict how consumers will respond to marketing strategies
E)the marketing concept stresses that a firm should know its customers
Q3) When organizing perceptual inputs, people tend to mentally fill in missing elements in a pattern or statement. This principle is called
A)interpretation.
B)completion.
C)distortion.
D)closure.
E)linking.
Q4) How does an individual's social class influence the products he or she buys?
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Chapter 8: Business Markets and Buying Behavior
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Sample Questions
Q1) Raython Hardware and Thames Industrial Supplier have worked closely for many years and have a mutually beneficial relationship in which Raython provides all of Thames's hardware needs in a timely manner. Raython and Thames's relationship could be best characterized as a(n)
A)reciprocity agreement.
B)partnership.
C)intra-organizational group.
D)alliance.
E)tying arrangement.
Q2) Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?
A)Reseller
B)Producer
C)Consumer
D)Government
E)Supply
Q3) What factors affect the purchase method that business customers choose?
Q4) How do individual factors affect the business buying decision process?
Page 10
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Chapter 9: Reaching Global Markets
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Sample Questions
Q1) Domestic marketing involves marketing strategies aimed at markets within the home country.
A)True
B)False
Q2) Refer to Scenario 9.2. The practice of offering fried octopus and squid at Asian KFC's is best described as
A)a strategy of standardization.
B)a strategy of globalization.
C)a strategy of some customization.
D)competitive advantage.
E)internationalizing the franchise.
Q3) Refer to Scenario 9.2. Which of the following alliances will KFC most likely utilize to guide its business transactions in Japan and China?
A)WTO
B)MERCOSUR
C)FTAA
D)NAFTA
E)APEC
Q4) In what ways can a nation restrict the flow of imported goods?
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Chapter 10: Digital Marketing and Social Networking
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Sample Questions
Q1) Compare the characteristics that distinguish e-marketing from traditional marketing.
Q2) Connectivity is the use of digital networks to provide linkages between information providers and users.
A)True
B)False
Q3) As digital communication technologies have advanced, it possible for marketers to
A)have more control over their product's positioning.
B)have more control over the processing of information.
C)have more control over people's perceptions of their business.
D)be more selective on news releases regarding their company.
E)reach markets that were previously inaccessible.
Q4) Consumers view the illegal downloading of copyrighted materials as more unethical if the person's motivation is primarily utilitarian, then if it is for a hedonistic reason.
A)True
B)False
Q5) Explain the concept "push-pull" when referring to digital marketing as a new distribution channel.
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Chapter 11: Product Concepts
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Sample Questions
Q1) "The people to check with" are the early adopters.
A)True
B)False
Q2) The width of a product mix is measured by the number of product
A)dimensions in the product line.
B)features in each brand.
C)items in the product line.
D)lines a company offers.
E)specialties a company offers.
Q3) Which of the following best defines the interest stage in the product adoption process?
A)The buyer tries to find the product in a retail store.
B)The buyer considers the benefits and determines whether to try the product.
C)The buyer tries the product to determine its usefulness.
D)The buyer seeks information and is receptive to learning about the product.
E)The buyer uses objective sources to learn about the product.
Q4) Discuss the concept of "sustainability" and how it is related to product decisions.
Q5) Discuss the implications for a firm's marketing strategy of classifying a product as a convenience, shopping, specialty, or unsought item.
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Chapter 12: Developing and Managing Products
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Sample Questions
Q1) Quality modification of an existing product aims at changing the product's safety, convenience, or versatility.
A)True
B)False
Q2) Time spent in test marketing can benefit a firm's competitors.
A)True
B)False
Q3) Top managers at Cincinnati Microwave believe that they have a successful working prototype of their new radar detector and plan to go directly to regional commercialization of the new product. In this instance, they are contemplating skipping the ____ phase of the new-product development process.
A)screening
B)test marketing
C)product development
D)business analysis
E)idea generation
Q4) What exactly is analyzed during the business analysis phase of new-product development?
Q5) Discuss the advantages and problems associated with test marketing.
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Chapter 13: Services Marketing
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Sample Questions
Q1) High-contact services are very expensive to deliver because they are equipment-intensive.
A)True
B)False
Q2) The fact that the first massage Gretchen gives each day is better than the last massage demonstrates the ____ of services.
A)heterogeneity
B)customer contact aspect
C)intangibility
D)inseparability
E)perishability
Q3) A church's marketing objective could be to inform the public about its doctrine and convince people to become members.
A)True
B)False
Q4) Marketing as a field of study does not attempt to make value judgments about what a nonprofit organization's goals should be.
A)True
B)False
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Chapter 14: Branding and Packaging
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Sample Questions
Q1) Package characteristics shape buyer impressions of a product during use.
A)True
B)False
Q2) A firm may decide that all packages should be similar and include one major element of the same design. This approach to promote an overall company image is called
A)family extension.
B)family packaging.
C)overall packaging.
D)package extension.
E)selective packaging.
Q3) A product that is simply labeled with the product category is considered a A)private brand.
B)no-name product.
C)generic brand.
D)poor quality item.
E)lean manufacturer brand.
Q4) By law, manufacturers must be identified on the labels of private brands. A)True
B)False
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Chapter 15: Marketing Channels and Supply Chain Management
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Sample Questions
Q1) Identify and describe the criteria used for selecting transportation modes.
Q2) The main reason a manufacturer will prohibit intermediaries from selling its products outside designated sales territories is to
A)tighten its control over distribution of its products.
B)discourage competition from other manufacturers.
C)incorporate selective distribution.
D)contain distribution costs.
E)punish intermediaries for past behavior.
Q3) The main objective of physical distribution should be to
A)decrease costs while increasing market coverage.
B)increase service and market coverage.
C)decrease costs while increasing service.
D)increase market coverage and channel power.
E)balance costs and market coverage.
Q4) Marketing channels create three types of utility for consumers including A)place, time, and possession.
B)location, availability, and suitability.
C)time, location, and promotion.
D)retailer, wholesaler, and producer.
E)position, possession, and place.
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Chapter 16: Retailing, Direct Marketing, and Wholesaling
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Sample Questions
Q1) What is the primary distinction between superstores and hypermarkets?
A)Superstores offer a wider variety of products than hypermarkets.
B)Superstores offer low prices while hypermarkets have moderate to high prices.
C)Hypermarkets have fewer departments but deeper product lines than superstores.
D)Hypermarkets are larger and have more types of products than superstores.
E)These two types of retailers carry very different types of products.
Q2) Taylor works for a company that buys snacks such as chips, cookies, and candy in bulk from manufacturers. Taylor's company then repackages them and sells them to vending companies who have vending machines at government institutions. Taylor most likely works for a(an) ___, while the vending machine company is a(an) _____.
A)Wholesaler; retailer
B)Wholesaler; broker
C)Broker; retailer
D)Broker; agent
E)Agent; retailer
Q3) What are the primary advantages and disadvantages of a franchise arrangement for a franchisee?
Q4) Compare and contrast department stores and discount stores.
Q5) What wholesaling activities do selling agents and brokers perform?
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Cooperative advertising efforts between manufacturers and retailers demonstrate the promotional objective of
A)stimulating demand.
B)reducing sales fluctuations.
C)combating competitive promotional efforts.
D)facilitating reseller support.
E)retaining loyal customers.
Q2) When a salesperson varies the physical distance between himself and a customer he is using
A)kinesic communication.
B)personal selling.
C)tactile communication.
D)comfort relations.
E)proxemic communication.
Q3) Successful marketers that understand the significance of word-of-mouth communication seek out opinion leaders and try to encourage them to try their products in the hope they will spread favorable word about them.
A)True
B)False
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Chapter 18: Advertising and Public Relations
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Questions
Q1) The effectiveness of an advertising campaign can be measured
A)only after the campaign has been carried out completely and results have been tabulated.
B)only before the campaign begins, to prevent unnecessary expenditures.
C)during the campaign to determine whether more or less funds should be allocated, but not after the campaign.
D)several weeks after the beginning of the campaign to determine whether the campaign is headed in the right direction.
E)before, during, and after the campaign through the use of pretests, inquiries, and posttests.
Q2) When respondents are shown a list of various products, brands, and company names and then asked about advertisements they have seen lately, researchers are conducting a(n)
A)unaided recall test.
B)pretest.
C)recognition test.
D)aided recognition test.
E)aided recall test.
Q3) What are the components of a print ad? What are the functions of each component?
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Chapter 19: Personal Selling and Sales Promotion
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Sample Questions
Q1) When better market conditions prevail or when company growth occurs, a company may suffer if it
A)lowered its sales force objectives.
B)recruited additional salespeople.
C)decided to use a combination compensation plan.
D)provided additional training for its sales force.
E)cut back the size of its sales force.
Q2) Refer to Scenario 19.1. Sean is developing his list of potential new retail customers by accessing the yellow pages online. Here he finds the contact information for every motorcycle store in the 48 contiguous states, and eliminates those who currently are his customers. Sean is involved in which step of the personal selling process?
A)Prospecting and evaluating
B)Preapproach
C)Overcoming objections
D)Closing
E)Following up
Q3) Most people who purchase rebated products actually apply for the rebates.
A)True
B)False
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Chapter 20: Pricing Concepts
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Sample Questions
Q1) At what point does a firm maximize profit?
A)The point at which marginal cost equals marginal revenue
B)The point at which the firm sells its product at the highest price
C)The breakeven point plus the adjusted marginal cost
D)The point at which marginal profits equal marginal revenue
E)The point at which marginal cost equals marginal profits
Q2) Which of the following is most likely to have an inelastic demand curve?
A)Automobile
B)Vacation
C)Nonelective surgery
D)Recreational vehicle
E)Computer
Q3) Which of the following is not a discount provided to business customers?
A)Trade
B)Cumulative
C)Cash
D)Seasonal
E)Differentiated
Q4) Explain what is meant by price elasticity of demand.
Q5) What are the terms of F.O.B. pricing?
22
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Chapter 21: Setting Prices
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Q1) The use of market share as a pricing objective oversimplifies the value of price in contributing to profits.
A)True
B)False
Q2) When Gabriella logs on to Dell's website, she sees a notebook model priced well below $1,000. As she continues through the site to view the other options, she realizes the first one she saw was the cheapest model available, but she of course wants more features. Dell is utilizing A)bait and switch.
B)price lining.
C)captive pricing.
D)penetration pricing.
E)bait pricing.
Q3) Penetration pricing and price skimming of the market are two types of new-product pricing.
A)True
B)False
Q4) Explain the ethical implications of professional pricing.
Q5) Compare and contrast price skimming and penetration pricing.
Q6) Identify and describe six types of psychological pricing.
Page 23
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