Fundamentals of Marketing Solved Exam Questions
Course Introduction
Fundamentals of Marketing introduces students to the basic principles and concepts essential for understanding the marketing process in modern organizations. The course explores key topics such as market research, consumer behavior, segmentation, targeting, positioning, and the marketing mix (product, price, place, and promotion).
Emphasis is placed on the development of effective marketing strategies and the practical application of marketing tools in real-world business scenarios. Through case studies and practical exercises, students gain insights into the dynamic marketplace and learn how marketing decisions impact both organizations and consumers.
Recommended Textbook
Principles of Marketing 7th AUSTRALIAN Edition by Gary Armstrong
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14 Chapters
2302 Verified Questions
2302 Flashcards
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Page 2
Chapter 1: Marketing: Creating and Capturing Customer Value
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) Selecting which segments of a population of customers to serve is called
A)market segmentation
B)market positioning
C)customisation
D)target marketing
E)choosing a value proposition
Answer: D
Q2) The aim of ________ is not to completely destroy demand,but only to reduce or shift it to another time,or even another product.
Answer: demarketing
Q3) Contemporary marketing practice is the responsibility of which group or groups of organisational employees?
A)marketing and finance
B)sales and customer support
C)information technology
D)general management
E)All of the above.
Answer: E
Page 3
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Chapter 2: Company and Marketing Strategy: Partnering to
Build Customer Engagement, value and Relationships
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163 Verified Questions
163 Flashcards
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Sample Questions
Q1) To be successful at marketing,companies must effectively turn marketing planning into ________.
A)marketing analysis
B)marketing implementation
C)marketing control
D)marketing audits
E)marketing budgeting
Answer: B
Q2) How might a stationery manufacturer alter the product element of the marketing mix when marketing pens designed to target female students versus male students?
Answer: The marketer might consider using a more slender,stylish barrel,feminine colours and decorative elements such as a spiral-flower stripe when marketing its pens to the female segment.On the other hand,when targeting males,the marketer might use a sturdier construction,more neutral colours and simple,conservative design features such as a simple gold stripe on black background.
Q3) Although customer relationships are difficult to measure,many companies are using metrics such as ________,________ and ________.
Answer: customer satisfaction;retention;customer equity.
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Chapter 3: The Marketplace and Customers: Analysing the Environment
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Sample Questions
Q1) Which of the generational segments is thought to be most sceptical and least receptive to marketing messages?
A)Generation X
B)Millennials
C)The elderly
D)Generation Z
E)Baby boomers
Answer: A
Q2) Outline two potential drawbacks of creating separate products and marketing programs for each of the generational segments.
Answer: A brand's image could be damaged if members of one generation respond negatively to a marketing campaign designed to appeal to members of another generation.Each generation spans decades of time,so members of one generation are actually at diverse life stages.
Q3) The ________ environment consists of factors that affect consumer buying power and spending patterns.
Answer: economic
Q4) ________ beliefs and values are more open to change than core beliefs.
Answer: Secondary
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Chapter 4: Marketing Analytics: Gaining Customer Insights
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Sample Questions
Q1) What source of marketing information provides those within the company ready access to research information,stored reports,shared work documents,contact information for employees and other stakeholders,and more?
A)an intranet
B)an extranet
C)the internet
D)marketing research
E)marketing intelligence
Q2) Data mining refers to the process of unearthing insights hidden in customer data.
A)True
B)False
Q3) Which type of research would be best suited for identifying which demographic groups prefer diet soft drinks and why they have this preference?
A)observational research
B)focus group research
C)ethnographic research
D)experimental research
E)descriptive research
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6
Chapter 5: Buyer Behaviour: Understanding Consumer and Business Buyers
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167 Flashcards
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Sample Questions
Q1) People change the goods and services they buy over time because of the two changing factors of ________.
A)belief and attitude
B)perception and personality
C)age and life-cycle stage
D)groups and learning
E)family and tradition
Q2) During which stage of the business buying process is a buyer most likely to conduct product or service analysis,carefully studying components to determine if they can be redesigned,standardised or made less expensive?
A)general need recognition
B)product specification
C)proposal solicitation
D)order-routine specification
E)performance review
Q3) An individual's consumer behaviour is influenced by ________,personal,cultural and social influences.
Q4) Compare the decision process in the business market and consumer markets.
Q5) There are ________ stages of the business buying process.
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Chapter 6: Customer-Driven Marketing Strategy: Creating
Value for Target Customers
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191 Verified Questions
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Sample Questions
Q1) Thinking about generational segments covered in Chapter 3 (Generation X,Millennials,baby boomers)and demographic segments (especially age),compare and contrast generational segments and demographic by age segments.
Q2) LaGrange Florists segments markets into groups of nonusers,ex-users,potential users,first-time users and regular users of its flowers and services.This firm uses usage rate as the segmentation approach.
A)True
B)False
Q3) Compare and contrast four targeting strategies.
Q4) When Pacific Fisheries groups its customers as countries by regions such as Asia,Australia or New Zealand,it is using which segmenting base?
A)economic factors
B)political and legal factors
C)geographic location
D)benefits sought
E)demographics
Q5) ________ differentiation can be created through features,performance,consistency,durability and reliability.
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Chapter 7: Products, services and Brands: Offering
Customer Value
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173 Verified Questions
173 Flashcards
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Sample Questions
Q1) Discuss the environmental,market and industry factors that have contributed to the rise of private brands in Australia and New Zealand.
Q2) In assessing which new features to add to a product,a company must weigh each feature's ________ to customers versus it's ________ to the company.
A)cost;line extension
B)cost;service
C)value;cost
D)service;line extension
E)equity;cost
Q3) ________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying.These products require a lot of advertising,personal selling and other marketing efforts.
A)Specialty products
B)Line extensions
C)Unsought products
D)Shopping products
E)Convenience products
Q4) Product quality has two dimensions ________ and ________.
Page 9
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Chapter 8: New Products: Developing and Managing Innovation
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Sample Questions
Q1) Mattel's Barbie is an example of a product with an extended life.Barbie,first launched in 1959,has undergone many incarnations.In spite of her age,Barbie is both timeless and trendy and would be said to be in the ________ stage of the PLC.
A)introduction
B)growth
C)maturity
D)decline
E)adoption
Q2) Companies often do not test ________ or copies of successful competitors' products.
A)concept development
B)concept testing
C)marketing strategy development
D)product development
E)simple line extensions
Q3) The business analysis stage represents the first large jump in financial investment in the new-product development process.
A)True
B)False
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Chapter 9: Pricing: Capturing Customer Value
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Sample Questions
Q1) EDLP is very similar to high-low pricing.
A)True
B)False
Q2) When a manufacturer seeks a market for by-products and accepts a price that covers more than the cost of storing and delivering those by-products,the manufacturer is able to reduce the main product's price to make it more competitive.
A)True
B)False
Q3) ________ power refers to a company's ability or power to escape price competition and to justify higher prices and margins.
Q4) Under ________ competition,the market consists of a few sellers who are highly sensitive to each other's pricing strategies.
Q5) With target costing,marketers will first ________ and then ________.
A)build the marketing mix;identify the target market
B)identify the target market;build the marketing mix
C)design the product;determine its cost
D)use skimming pricing;use penetrating pricing
E)determine a selling price;target costs to ensure that the price is met
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Chapter 10: Placement: Customer Value Fulfilment
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Sample Questions
Q1) In moving goods,managers try to choose a set of warehouses (stocking points),or cross-docking points,and transportation carriers that will deliver finished goods to final destinations in the desired ________ and / or at the lowest ________.
Q2) A major role played by intermediaries is to buy large quantities of products from many producers and break them down into the smaller quantities and broader assortments wanted by consumers.
A)True
B)False
Q3) Wholesalers that are owned by farmer-members who assemble farm products to sell in local markets are known as ________.
A)producers' cooperatives
B)truck wholesalers
C)produce wholesalers
D)cash-and-carry cooperatives
E)None of the above.
Q4) _________ must first define their target markets and then decide how they will position themselves in those markets.
Q5) A(n)________ brings buyers and sellers together and assists in negotiations.
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Chapter 11: Communicating Customer Value: Advertising and
Public Relations
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172 Verified Questions
172 Flashcards
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Sample Questions
Q1) The owner of an independent gift store is developing an advertising budget,and has totalled his company's revenues and deducted operating expenses and capital outlays.He intends to use a percentage of the remaining funds for advertising.Which budget setting method is he using?
A)affordable method
B)integrated method
C)percentage-of-sales method
D)competitive-parity method
E)objective-and-task method
Q2) A promotion strategy where the producer promotes the product to wholesalers,the wholesalers promote to retailers and the retailers promote to consumers is known as a ________ strategy.
Q3) Lobbying,or building and maintaining relations with legislators and government officials to influence legislation and regulation,is a function of ________.
A)message strategy
B)press relations
C)press agencies
D)public relations
E)a mass market strategy
13
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Chapter 12: Personal Selling and Sales Promotion: Creating
Value in Relationships
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174 Flashcards
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Sample Questions
Q1) You are responsible for hiring inside salespeople for your firm.Which of the following jobs would you be LEAST likely to expect these people to perform?
A)free outside salespeople to spend time with major accounts
B)use the phone to find new leads
C)act as liaisons between outside salespeople and customers
D)service accounts
E)travel to call on customers
Q2) A company has decided to switch to a customer salesforce structure.Which of the following advantages is the company now LEAST likely to enjoy?
A)The company can become more customer-focused.
B)The company can build closer relationships with important customers.
C)The company can better serve different industries.
D)The company can better serve current customers and find new customers.
E)The company can expect salespeople to develop in-depth knowledge of numerous and complex product lines.
Q3) ________ and games of chance and skill give consumers the chance to win something through skill or 'luck of the draw'.
Q4) ________ ________ is one of the oldest professions in the world.
Page 14
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Chapter 13: Direct and Digital Marketing: Interactivity and Fulfilment
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Sample Questions
Q1) Permission-based email advertising allows marketers to send tailored messages to targeted customers who actually want to receive them.
A)True
B)False
Q2) Internet companies use ________ to work with other companies,online and offline,to promote each other.
A)alliance and affiliate programs
B)search-related ads
C)cooperative advertising
D)interstitial advertising
E)content sponsorship
Q3) 'Telemarketing' may ________.
A)be used to generate new sales leads
B)be used only with direct mail
C)be used only with TV
D)involve both inbound and outbound calls
E)A and D
Q4) The number of files requested by guests to a web page are known as ________.
Q5) Compare 'simple lists',such as a mailing list,with a 'customer database'.
Q6) Outline the major benefits of direct marketing for both customers and sellers. Page 15
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Page 16
Chapter 14: Sustainable Marketing: Social Responsibility, ethics and Legal Compliance
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166 Verified Questions
166 Flashcards
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Sample Questions
Q1) Legislation protecting the ownership of computer-chip circuitry for some 20 years is the ________.
A)Spam Act 2003
B)Trade Practices Act 1974
C)Circuit Layouts Act 1989
D)Computer Circuitry Act 2001
E)Communications Act 2002
Q2) Intellectual property laws are relatively fixed in time and rarely subject to change. A)True
B)False
Q3) ________ protection is given to an invention of a device that is considered useful.
Q4) A lawn-mowing service puts most of its resources into 'value-building marketing' investments.Its management is practicing 'consumer-oriented marketing'.
A)True
B)False
Q5) Australian Standard AS3806 is useful in guiding the implementation of a compliance program in ________.
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