Fundamentals of Marketing Pre-Test Questions
Course Introduction
Fundamentals of Marketing introduces students to the core principles and concepts that drive successful marketing strategies in todays dynamic business environment. This course covers essential topics such as market research, consumer behavior, segmentation, targeting, positioning, the marketing mix (product, price, place, promotion), and the impact of digital technologies. By analyzing real-world cases and engaging in practical exercises, students learn how to create value for customers and organizations while gaining a foundational understanding of ethical and sustainable marketing practices. The course equips learners with the skills necessary to identify market opportunities and develop effective marketing plans.
Recommended Textbook
MKTG 9 9th Edition by Charles W. Lamb
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1256 Verified Questions
1256 Flashcards
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Chapter 1: An Overview of Marketing
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Sample Questions
Q1) A firm that extensively uses relationship-marketing strategies is most likely to:
A)focus on the internal rather than the external business environment.
B)rely on aggressive sales strategies.
C)be highly centralized.
D)encourage teamwork among employees.
Answer: D
Q2) What is customer value? What are the six ways marketers can make sure customers perceive their companies/products as sources of value?
Answer: Customer value is the relationship between benefits and the sacrifice necessary to obtain those benefits.Marketers who want to be perceived by their customers as offering value can (1)offer products that perform,(2)earn trust,(3)avoid unrealistic pricing,(4)give the buyer facts,(5)offer organization-wide commitment in service and after-sales support,and (6)co-creation.
Q3) Nonprofit organizations should adopt a sales orientation rather than a market orientation.
A)True
B)False
Answer: False
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Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) __________is a thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization.
Answer: Marketing audit
Q2) Which of the following statement is true about the price component of a marketing mix?
A)It is the quickest element to change.
B)It is the least important of the four Ps.
C)It is the starting point of the marketing mix.
D)It is decided independently of the external environment of the business.
Answer: A
Q3) Marketers at Omega Pharmaceuticals are identifying stores and outlets that will be most convenient for customers to buy its products.The company is also planning the logistics of how and when the products will be delivered to the outlets.Omega Pharmaceuticals is working on its__________strategy.
Answer: distribution
Q4) Product development strategies require creation of new markets.
A)True
B)False
Answer: False
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Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) Studies suggest that ethical beliefs vary little from culture to culture.
A)True
B)False
Answer: True
Q2) Which of the following statements is true about the sustainability theory of social responsibility?
A)It states that corporations should only focus on increasing shareholder wealth.
B)It exclusively focuses on the corporations' duty to protect the environment.
C)It states that focusing on the world's social and responsible problems will help corporations outperform their peers.
D)It states that corporations should think about social responsibility only after they establish themselves and achieve profitability.
Answer: C
Q3) Business gift giving is considered as the most unacceptable business practice in China.
A)True
B)False
Answer: False
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Chapter 4: The Marketing Environment
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Sample Questions
Q1) Hispanic Americans:
A)prefer to buy American products rather than brands found in their homelands.
B)are much older than the general U.S.population.
C)believe that the traditional family is the main building block of a healthy community.
D)make the most homogenous ethnic group.
Q2) Which of the following statements is true about Millennials?
A)They spend more time watching television or reading newspapers than surfing the Web.
B)They are a smaller cohort than Baby Boomers.
C)They are the group most affected by the Great Recession of 2008-2009.
D)They are aged between forty-five and sixty years.
Q3) Social media:
A)can help companies gain market share.
B)are most widely used by tweens.
C)are eliminating the effect of component lifestyles.
D)have significantly decreased the complexity of buyer behavior.
Q4) Discuss purchasing power and its relationship with income.
Q5) The Bureau of Competition__________.
Q6) Discuss six approaches that are used by companies now to stimulate innovation.
Page 6
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) A(n)__________is an intermediary who brings a buyer and a seller together.
Q2) A company is said to be a direct foreign investor in another country if it:
A)outsources a part of its production to the country due to the availability of cheaper labor.
B)exports finished products to that country.
C)manufactures products for that country based on contract manufacturing.
D)acquires an active ownership of marketing facilities in that country.
Q3) _____ are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries.
A)Exchange controls
B)Market groupings
C)Joint ventures
D)Direct foreign investments
Q4) The surge in global trade in recent years has added to strains and charges for all forms of transport.
A)True
B)False
Q5) The practice of returning production jobs to the United States is known as__________.
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) During an external information search,a consumer is most likely to enlarge his search and consider more alternative brands when:
A)he has a great deal of prior experience while shopping for the product or service.
B)the perceived risk of the product or service to be purchased increases.
C)he is confident of making a purchase decision with the information at hand.
D)the product or service to be bought is a frequently purchased,low-cost item.
Q2) __________refers to how an individual actually perceives himself or herself.
Q3) Which of the following is referred to as a unit of input affecting one or more of the five senses,namely,sight,smell,taste,touch,and hearing?
A)Desire
B)Need
C)Stimulus
D)Want
Q4) A subculture is a homogeneous group of people who renounce the values of an overall culture.
A)True
B)False
Q5) Describe the term personality.
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Chapter 7: Business Marketing
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Sample Questions
Q1) __________is the condition that exists when one party has confidence in an exchange partner's reliability and integrity.
Q2) A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company's production of bicycles.This decreased production in turn will reduce Huffy's demand for bicycle seats.This scenario illustrates__________demand.
Q3) _____ is the condition that exists when one party has confidence in an exchange partner's reliability and integrity.
A)Obeya
B)Trust
C)Keiretsu
D)Commitment
Q4) In the context of consumer markets,which of the following is true of consumers?
A)They often follow the practice of reciprocity.
B)They tend to buy in very large quantities.
C)They approach purchasing rather formally.
D)They normally buy products rather than lease them.
Q5) In the context of the types of business products,consumable items that do not become part of a final product are known as__________.
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) __________segmentation refers to segmenting markets by region of a country or the world,market size,market density,or climate.
Q2) An advantage of concentrated marketing is the potential for saving on production and marketing by using an undifferentiated targeting strategy.
A)True
B)False
Q3) The customer relationship management (CRM)technique that focuses on thanking customers for their business to a company exemplifies the trend of__________.
Q4) Which of the following is true of satisficers?
A)They are customers that are generally found in the consumer market.
B)They consider numerous suppliers and study all proposals carefully before selecting one.
C)They place orders with the first supplier that fulfills their requirements.
D)They contact both familiar and unfamiliar suppliers when they need to purchase a product.
Q5) How do organizations use a product differentiation strategy to distinguish their products from competitors?
Q6) Write a note on the final step of the market segmentation process.
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Chapter 9: Marketing Research
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Sample Questions
Q1) Vaikel Inc. ,an automobile manufacturing company,conducts a survey to find out people's opinion about its latest car,Vaikel 6.0,and their level of satisfaction with it.It requests a few people who recently purchased Vaikel 6.0 to participate in the survey and asks them to log on to a certain Web site at a given time.After they log on to the site,an online moderator runs a discussion about the car and allows the participants to respond.In this case,Vaikel uses a(n)__________for conducting a survey.
Q2) Explain some of the program attributes included in the Maritz Marketing Research Loyalty Report.How are these attributes used by managers who design customer loyalty programs?
Q3) Which of the following is a criticism of online panels?
A)They lead to biased and misleading results as members receive incentives to join the panel.
B)They require the presence of a moderator to control the discussion.
C)They lead to incorrect results as panel providers are not permitted to select panel members based on the current requirement.
D)They involve very long discussion times as panel members discuss among themselves while offering suggestions.
Q4) Explain the importance of marketing research in decision making.
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Chapter 10: Product Concepts
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Sample Questions
Q1) Explain planned obsolescence with at least two examples.Discuss if planned obsolescence is ethical or unethical.
Q2) An organization's product mix includes all of the products it sells.
A)True
B)False
Q3) __________labeling is designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase.
Q4) Amy spends very little time to shop for bath soaps and beauty creams as she uses only the products offered by Eve's Aura,a manufacturer of bath and beauty products.As Eve's has a wide distribution network,its products are available in almost every retail outlet in Amy's locality.In this scenario,the bath and beauty products from Eve's Aura are examples of _____ products.
A)specialty
B)convenience
C)business
D)shopping
Q5) Trademark protection and rights only last for five years.
A)True
B)False
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.
Q2) Which of the following is an advantage of simultaneous product development?
A)It shortens a product's development process.
B)It ensures that a development process proceeds through highly structured stages.
C)It lengthens product lines to appeal additional markets.
D)It eliminates the need for test marketing a new product.
Q3) In the growth stage of the product life cycle,sales typically grow at an increasing rate,many competitors enter the market,and large companies may start to acquire pioneering firms.
A)True
B)False
Q4) The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called__________.
Q5) In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,__________represents the degree of difficulty involved in understanding and using a new product.
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Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) __________focuses on maximizing the surplus of income over costs.
Q2) A bundled price is preferable when:
A)different customers have different needs.
B)firms customize services for each individual customer.
C)consumers dislike having to pay extra for every part of a service.
D)firms want to charge for their supplementary services separately.
Q3) In revenue-orientated pricing,prices vary with different market segments' ability to pay.
A)True
B)False
Q4) Which of the following is a limitation of the revenue-oriented pricing approach?
A)High tax rates
B)Difficulty in determining costs
C)High economies of scale
D)Difficulty in communicating to consumers
Q5) Marketers have more trouble promoting tangible goods than intangible services.
A)True
B)False
Q6) __________refers to the inability of services to be stored,warehoused,or inventoried.
Page 14
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Chapter 13: Supply Chain Management
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Sample Questions
Q1) Explain in detail the functions of the customer relationship management process.
Q2) A company's__________includes all of the companies involved in all of the upstream and downstream flows of products,services,finances,and information,from initial suppliers to the ultimate consumer.
Q3) An effective materials-handling system:
A)increases the number of stages and participants in the supply chain.
B)moves inventory into,within,and out of a warehouse quickly with minimal handling.
C)helps firms maintain their inventory at the highest levels possible.
D)enables firms to increase the number of people handling their raw materials,supplies,and components.
Q4) By working closely with its clients and understanding their needs,A Plus Z has improved its service encounter to a level that was not thought possible in mass retailing.Which of the eight critical business processes performed by supply chain managers does this best illustrate?
A)Manufacturing flow management
B)Customer service management
C)Demand management
D)Returns management
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Chapter 14: Marketing Channels
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Sample Questions
Q1) In exclusive distribution,a manufacturer tries to have a product available in every outlet where potential consumers might want to buy it.
A)True
B)False
Q2) Which of the following is true of nontraditional channels?
A)They detract from the profitability of the primary and secondary channels controlled by a business.
B)They are used to sell stolen or counterfeited products.
C)They enable a consumer to return a product when it reaches the end of its useful life.
D)They help differentiate a firm's product from the competition.
Q3) __________negotiate with one another,buy and sell products,and facilitate the change of ownership between buyer and seller in the course of moving a product from the manufacturer into the hands of the final consumer.
Q4) Phoenix Automated Retail Services specializes in DVD rentals via automated retail kiosks.If consumers want a particular DVD,they can rent it from Phoenix instead of searching for it in various production studios.Phoenix therefore provides__________for both consumers and the production studios.
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Chapter 15: Retailing
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Sample Questions
Q1) Value-based pricing focuses on the cost of a product to the supplier more than the value of a product to the customer.
A)True
B)False
Q2) Strategic retailing goals typically focus on increasing costs of goods sold.
A)True
B)False
Q3) Asif wanted to buy a football immediately.He placed an order on Duke.com,an online portal for sports goods,and dropped in at its nearest physical store to collect it.This scenario is an example of _____.
A)microtargeting
B)click-and-collect
C)shopper marketing
D)retail channel omnification
Q4) Zeta is an American multinational retail corporation.To move ahead of its competitors and increase revenue,Zeta began to employ a system to determine which products to stock and at what prices,and how to advertise to draw target customers.The process employed by Zeta is called __________.
Q5) __________compete on the basis of low prices,high turnover,and high volume.
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Chapter 16: Marketing Communications
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Sample Questions
Q1) A beverage company plans to launch a new energy drink.It decides to partly sponsor a marathon in the city.It places billboards and posters describing the new drink throughout the marathon route.Company representatives distribute flyers to people arriving to watch the marathon.The company also issues press releases as part of the product launch.Therefore,the company is executing a:
A)sales promotion campaign.
B)personal selling campaign.
C)target marketing strategy.
D)public relations strategy.
Q2) Which of the following is a difference between a push and a pull strategy?
A)Social media is used in a push strategy,while personal selling is used in a pull strategy.
B)End consumers are targeted in a push strategy,while wholesalers are targeted in a pull strategy.
C)Push strategies focus on content marketing,while pull strategies focus on personal selling.
D)Retailers are targeted in a push strategy,while opinion leaders are targeted in a pull strategy.
Q3) __________promotion is designed to stimulate a purchase or an action.
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Chapter 17: Advertising, public Relations, and Sales Promotion
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Q1) Ads for Gelly candy feature children enjoying the candies with their parents during family trips.Which of the following executional styles of advertising is used by these ads?
A)Slice-of-life
B)Lifestyle
C)Animated product symbol
D)Demonstration
Q2) Justify the statement,"A brand with a distinct personality is more likely to have a larger base of loyal customers and market share."
Q3) A(n)__________designates the channel to be used,the specific vehicles,and the insertion dates of advertising.
Q4) An advertising campaign:
A)may contain a wide variety of themes and slogans.
B)extends for a defined period of time.
C)acts as a base for defining an advertising objective.
D)starts with determining the appropriate media for the campaign.
Q5) __________is a form of advertising designed to enhance a company's image rather than promote a particular product.
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Q6) Explain how marketers manage unfavorable publicity using an example.
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Chapter 18: Personal Selling and Sales Management
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Sample Questions
Q1) How can personal selling reduce the costs of promoting a product or service?
A)By promoting a product to both qualified and nonqualified prospects
B)By promoting undifferentiated sales messages toward prospective consumers
C)By purchasing advertising and sales promotions in large amounts
D)By adjusting the size of the sales force in one-person increments
Q2) Maggie's Apparel Inc.is a store that offers customized shopping,whereby consultants pick clothing they feel will fit a customer's style and specified need.This scenario most likely illustrates _____.
A)personal selling
B)price-based selling
C)seasonal marketing
D)word-of-mouth marketing
Q3) __________is a sales practice that involves building,maintaining,and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships.
Q4) A sales manager at Guilden Corporation,a manufacturer of consumer durable goods,has instructed his new salesperson,Rita,to sell five flat screen televisions per week.In addition to this,she is also expected to identify ten potential customers.These instructions given to Rita are referred to as__________.
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Chapter 19: Social Media and Marketing
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Sample Questions
Q1) Angela and Dominic own Slice Pizzeria.They keep track of the number of mentions their store receives on sites like Twitter and Facebook,but they are unsure of what steps to take next.Based on the eight stages of effective listening,Angela and Dominic are currently in the _____ of developing an effective listening system.
A)stage 1
B)stage 2
C)stage 3
D)stage 4
Q2) Social media measurements are meaningless if:
A)they require further processing.
B)they are tied to performance indicators.
C)they are taken from many sources.
D)they lack context.
Q3) In online games,social and real-world-like titles are least appropriate for marketing and advertising.
A)True
B)False
Q4) Explain the role of social media in marketing.
Q5) Distinguish between owned media and earned media with examples.
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Chapter 20: Pricing Concepts
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Sample Questions
Q1) At Starmart,Riya saw a box of collector's edition comic books.Each book was priced at $28.50,but a customer who bought five of the books was required to pay only $19.99 for each book.Riya bought one book and her friend bought five books.What was the retailer's revenue from this purchase?
A)$158.51
B)$19.99
C)$28.50
D)$128.45
Q2) Stocking well-known branded items at high prices in order to sell store brands at discounted prices is called selling against the brand.
A)True
B)False
Q3) Although many factors can influence the price of a product,the primary determinants are:
A)the costs of manufacturing and distributing the product.
B)the demand for the product and the cost to the seller for the product.
C)the demand by consumers and the perceived quality of the product.
D)the distribution and promotion strategies for the product.
Q4) A cost that changes with the level of output is called a(n)__________cost.
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Chapter 21: Setting the Right Price
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Sample Questions
Q1) Unfair trade practice acts were enforced to:
A)ensure the adoption of the Sherman Act that makes bait pricing illegal.
B)prevent oligopoly leaders from joining together and fixing prices at the highest rates that a market will allow.
C)establish penalties for companies that break the Clayton Act by engaging in predatory pricing.
D)protect small local firms from giant companies that operate efficiently on razor-thin profit margins.
Q2) The marketing manager of pickacruise.com (a travel Web site targeted at consumers who want a luxury vacation)finds that the firm can increase its market share and become the industry leader if it slashes prices by 50 percent during the month of December.However,the Vice President of the finance department is committed to reporting a 25 percent Return on Investment (ROI)at all times,which cannot be achieved if the firm slashes its prices.This conflict illustrates:
A)a need to eliminate low-profit products.
B)a lack of competition in the marketplace.
C)how pricing operates in an ideal marketplace.
D)the need for trade-offs in pricing objectives.
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