Introduction to Marketing Exam Bank
Course Introduction
Introduction to Marketing provides an overview of the fundamental principles and practices that drive effective marketing strategies in todays dynamic business environment. Students will explore key concepts such as market segmentation, targeting, positioning, consumer behavior, and the marketing mix (product, price, place, and promotion). The course also covers current trends, digital marketing, and the ethical and societal impacts of marketing decisions. Through case studies, real-world examples, and interactive projects, learners will develop a strong foundation for analyzing and applying marketing strategies across various industries.
Recommended Textbook
Marketing 2nd Edition by Shane Hunt Associate
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16 Chapters
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Page 2
Chapter 1: Why Marketing Matters to You
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150 Flashcards
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Sample Questions
Q1) Marketers create value for customers when they develop products that allow consumers to satisfy their needs and wants through exchange relationships.
A)True
B)False
Answer: True
Q2) Moral standards expected by a society are referred to as _______.
Answer: ethics
Q3) The marketing mix is also referred to as the four Ps of marketing.
A)True
B)False
Answer: True
Q4) Firms with a ________ orientation believed that quality products would simply sell themselves.
Answer: production
Q5) Large companies like Enron,WorldCom,and Arthur Andersen all failed due to their lack of ______.
Answer: ethics an ethical code
Q6) There are _______ steps in the ethical decision-making framework.
Answer: eight 8
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Chapter 2: Strategic Planning
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Sample Questions
Q1) No matter how good the marketing plan is,it is of no value unless the company is successful at ________ the plan.
Answer: implementing
Q2) While the specific format of the marketing plan differs from organization to organization,most plans include _____ components that communicate what the organization desires to accomplish and how it plans to achieve its goals.
Answer: five 5
Q3) The riskiest method of entering an international market is _____ _____.
Answer: direct ownership
Q4) What term is used for the positive gain from a business operation after all of the expenses have been subtracted?
A)gross margin
B)total sales
C)revenue
D)profit
E)earnings
Answer: D
Q5) Typically,the least-risky option for entering international markets is _______.
Answer: exporting
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Chapter 3: The Global Environment
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Sample Questions
Q1) According to your text,of all the external factors that affect the marketing environment,which one represents the most significant challenges,as well as the most significant opportunities,for marketing professionals?
A)political
B)sociocultural
C)demographic
D)economic
E)technological
Answer: E
Q2) Daniel is looking to buy a hybrid vehicle because he is noticing that the price of gasoline continues to rise compared to years past.The rise in the price of gasoline is most likely a result of A)deflation.
B)a recession.
C)a rise in GDP.
D)inflation.
E)an increase in purchasing power.
Answer: D
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Page 5
Chapter 4: Consumer Behavior
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Sample Questions
Q1) Cognitive dissonance occurs during which stage of the consumer decision-making process?
A)postpurchase processes
B)problem recognition
C)alternative evaluation
D)outlet selection
E)information search
Q2) Kendall's company has bought office stationery and business cards from the same printing company for five years.Recently Kendall's company moved into a bigger office down the street.She called the printing company to order new stationery with the updated address.This is an example of
A)a new buy.
B)a tailored rebuy.
C)an altered rebuy.
D)a modified rebuy.
E)a straight rebuy.
Q3) When a car dealership sells an automobile to a customer,this is an example of a ________ transaction.
Q4) What is consumer behavior and what impact does it have on marketing campaigns?
Q5) How does B2B buying differ from B2C buying?
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Chapter 5: Marketing Research
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Sample Questions
Q1) Which tool would allow a manager to estimate how much of a product will sell in a three-month period?
A)sales forecasting
B)sales tracking
C)demand analysis
D)promotion evaluation
E)advertising effectiveness study
Q2) GM wanted to know what features were used the most in their new cars,so they invited 10 people who owned GM cars to sit in a room with a moderator and answer questions.This is an example of A)secondary research.
B)snowballing.
C)a focus group.
D)an experiment.
E)an interview.
Q3) When the text used the example of Fuze setting up a mock store aisle full of beverages and watching how participants react to various types of packaging or where beverages are positioned in the aisle,it was describing marketing research that involves
Q4) Volume,velocity,and variety are three elements associated with ______ ______.
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Chapter 6: Product Development
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Sample Questions
Q1) Among other things,the first stage in the new-product strategy development process helps to determine if the idea can be turned into a product that will prove to be profitable.
A)True
B)False
Q2) The combination of all the products a company sells is referred to as its product line.
A)True
B)False
Q3) How long can a company advertise a product as "new and improved" after it hits store shelves?
A)three months
B)six months
C)one year
D)two years
E)indefinitely
Q4) During the _____ _____ stage,the firm tests not only the product itself but also the marketing strategy related to it.
Q5) The final stage of the new-product development process is the _____ _____.
Q6) Why are most consumers characterized as early or late majority adopters?
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Chapter 7: Segmentation, Targeting, and Positioning
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Q1) The market is divided into groups according to the reason the consumer made the purchase when marketers segment based on _______.
Q2) Which of the following is a demographic segmentation variable?
A)gender
B)market size
C)population shifts
D)motivation
E)lifestyle
Q3) _______ assumes that consumers compare goods and services on the basis of benefits.
Q4) Which of the following is a behavioral segmentation variable?
A)family size
B)usage rate
C)population shifts
D)customer convenience
E)lifestyle
Q5) _______ segmentation information,which is typically easy to acquire,may be slow in coming or completely unavailable in international markets.
Q6) How does a business know it has effectively segmented its markets?
Page 9
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Chapter 8: Promotional Strategies
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Sample Questions
Q1) The primary disadvantage of the percentage-of-sales budgeting method occurs when
A)there is not enough time to properly execute the method.
B)a firm's sales increase.
C)a firm's sales decline.
D)money is leftover when the budgeting period ends.
E)demand for the firm's products increasE.
Q2) What two key words in the definition of advertising are crucial to understanding how advertising fits into the promotion mix?
A)paid and communication
B)personal and communication
C)paid and nonpersonal
D)nonpaid and nonpersonal
E)nonpaid and personal
Q3) What is the most common type of sales promotion?
A)contests and sweepstakes
B)coupons
C)loyalty programs
D)samples
E)rebates
Q4) Trade sales promotions are promotion tools directed to _______ firms.
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Chapter 9: Supply Chain and Logistics Management
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Sample Questions
Q1) If a company's marketing strategy includes objectives related to cost competitiveness and good customer service,it should consider using a _______ supply chain strategy.
Q2) Dividing the inventory on hand by the average daily usage or sales is the calculation for
A)inventory supply.
B)days of supply.
C)stockout.
D)days of stock.
E)inventory turns.
Q3) The number of times a firm's entire inventory is sold and replaced is referred to as A)inventory supply.
B)days of stock.
C)stockout.
D)days of supply.
E)inventory turns.
Q4) Product _______ involves receiving goods from various suppliers,storing the goods until they're ordered by a customer,and consolidating orders to achieve transportation economies of scale.
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Chapter 10: Pricing
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Q1) Useful as a temporary means of staying in business,_______ pricing is the process of lowering prices to the point at which revenue just covers costs,allowing the business to endure a difficult time.
Q2) The three largest manufacturers of solenoid valves for plumbing applications conspired together so that all three firms would charge the same price for a 3-way valve.This is an example of
A)price inflation.
B)predatory pricing.
C)deceptive pricing.
D)price fixing.
E)price discrimination.
Q3) Priceline.com is a type of "name-your-own-price" _____ site where a consumer submits a bid at the price he or she is willing to pay for a product or service.
Q4) Because predatory pricing could be considered an attempt to create a monopoly,it is illegal under U.S.law.
A)True
B)False
Q5) The Wheeler-Lea Act of 1938 is also called the _______ Act.
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Chapter 11: Retailing
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Sample Questions
Q1) While Natalie was at the mall,she saw a kiosk that was selling cell phone covers.Although she had no intention of buying a new cell phone cover,the kiosk caught her eye and she ended-up buying a leopard-print cover.Which of the following describes Natalie's behavior?
A)Natalie did not engage in a retail transaction.
B)Natalie's cell phone cover was an impulse purchase.
C)Natalie was the victim of distracted shopping.
D)Because she bought the cell phone cover,Natalie must have intended to purchase one all along.
E)Natalie's cell phone cover was a strategic purchasE.
Q2) Reilly's law of retail gravitation describes
A)the profit potential of various retail locations.
B)the profit potential for two competing stores located in close proximity.
C)how consumers decide where to buy the goods and services they consume.
D)how retailers choose the best products to sell for a given location.
E)how many stores,on average,a consumer will visit in one shopping trip.
Q3) Describe the difference between full line discount stores and specialty discount stores and provide examples of each.
Q4) Retailers are the _____ stage in the distribution channel.
Q5) Describe the three different location types available to a retailer.
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Chapter 12: Personal Selling
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Sample Questions
Q1) What group of people in the company develops the content for sales playbooks?
A)upper management
B)the sales reps themselves
C)the production team
D)the corporate marketing department
E)the sales managers
Q2) In a study of sales and marketing executives,what percentage believed that their salespeople have lied on a sales call?
A)less than 20 percent
B)about 35 percent
C)more than half
D)nearly 75 percent
E)almost all
Q3) Using online,mobile,and social media to engage customers,build strong customer relationships,and increase sales is referred to as _____ sellling.
Q4) Compare and contrast order-getters and order-takers.What types of sales roles fit into these categories?
Q5) In SPIN selling,_____ questions ask about the consequences or effects of the buyer's situation.
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Chapter 13: Digital Social Media Marketing
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Sample Questions
Q1) Discuss the advent of mobile technologies.How have they benefited consumers? Are there any downsides to mobile technology?
Q2) In order to improve social media marketing performance,digital marketers typically track selected metrics on a daily,ongoing basis through some form of social media marketing ______.
Q3) Engagement measures all of the following except
A)whether or not people share posts or retweet tweets.
B)how many people demonstrate approval or agreement with a retweet or a like.
C)how people participate in brand conversation.
D)whether or not people engage in conversation by commenting.
E)how many times people purchase from the brand.
Q4) According to social media and customer service expert Jay Baer,what is the new marketing?
A)location-based apps
B)social media
C)branded content
D)mobile technology
E)customer service
Q5) Most free hosting services make money by selling _____.
Q6) Describe the three categories of content marketing.
Page 15
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Chapter 14: Customer Relationship Management
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Sample Questions
Q1) Companies seeking to protect customer information need only rely on the laws the U.S.government has put in place for protecting the financial,health,telephone,and e-mail information of citizens.
A)True
B)False
Q2) At the pre-transaction point,the firm measures the ability to accurately provide shipment status and track the order.
A)True
B)False
Q3) _____ time is the time a customer has to wait to talk to or receive a text back from a customer service representative.
Q4) The type of customer communication that provides the customer with information concerning the completeness of the order,when it will ship from the firm,and when it will arrive to the customer is called
A)delivery status communication.
B)order status communication.
C)order authorization communication.
D)dispatch communication.
E)product fulfillment communication.
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Chapter 15: Branding
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Sample Questions
Q1) The process of broadening the use of an organization's current brand to include new products is called
A)cannibalization.
B)co-branding.
C)brand revitalization.
D)brand extension.
E)product extension.
Q2) You are the marketing manager for a small sporting goods store that specializes in winter sports such as hockey,skiing,skating,snowboarding and other cold weather sports.You want to analyze the brand equity that your company has,which basically looks at how valuable the brand is.What factors would you want to look at in your analysis?
Q3) _______ consumers are the most brand conscious and status conscious of all developed countries,and are generally accepting of foreign brands.
Q4) A Klout score measure a user's influence based on his or her ability to drive other people to act on social media sites.
A)True
B)False
Q5) How can social media be used to get customers involved with brands?
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Chapter 16: Social Responsibility and Sustainability
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Q1) Patagonia,a California-based clothing company,is deeply committed to the environment.The company makes fleece jackets out of recycled bottles,uses solar panels to generate most of the electricity at its headquarters,and even tells its customers in its advertisements to think twice before buying anything,all in an effort to reduce its carbon footprint.This is an example of how Patagonia is engaged in
A)sustainable marketing.
B)tactical greening.
C)corporate philanthropy.
D)value-driven marketing.
E)eco-marketing.
Q2) What key elements can an organization use to develop a successful corporate social responsibility program?
Q3) Environmentalism does NOT typically focus its efforts on
A)improving the environment.
B)utilizing resource-conserving products and practices.
C)preserving the environment.
D)increasing the profitability of the renewable energy market.
E)educating consumers about product choices.
Q4) The moral standards expected by a society are referred to as _______.
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