Introduction to Marketing Exam Preparation Guide
Course Introduction
Introduction to Marketing provides students with a comprehensive overview of fundamental marketing concepts, strategies, and practices. The course covers key topics such as market research, consumer behavior, segmentation, targeting, positioning, and the marketing mix (product, price, place, and promotion). Through case studies, real-world examples, and interactive activities, students gain an understanding of how organizations create value for customers and build meaningful relationships. By the end of the course, students will be equipped with the foundational knowledge needed to analyze marketing opportunities and develop effective marketing plans in both traditional and digital environments.
Recommended Textbook
MKTG 11th Edition by Charles W. Lamb
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19 Chapters
1236 Verified Questions
1236 Flashcards
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Chapter 1: An Overview of Marketing
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Sample Questions
Q1) Which of the following statements is true of market-oriented firms?
A)They offer their customers everything they want.
B)They produce goods and services for everybody.
C)They use minimal promotion for high-quality products.
D)They create the benefits their customers seek.
Answer: D
Q2) Which of the following is a sales-oriented organization?
A)Fournotts Corp., which produces what the company management thinks it can produce best
B)Magnira Corp., which understands the needs and wants of the marketplace
C)Fillets Inc., which believes that aggressive promotion techniques can result in high sales
D)Laelle Inc., which believes that a sale is based on a customer's decision to purchase a product
Answer: C
Q3) Marketing career opportunities do not exist in nonbusiness organizations.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) Remvault Dairies witnessed a steady decline in the sales of its products due to increased competition in the local market. Remvault Dairies plans to adopt the market development strategy. In this scenario, which of the following is the best step the company should take in an attempt to rejuvenate its financial losses?
A)Introduce new products into new markets.
B)Create new products for its present markets.
C)Attract existing customers rather than new customers.
D)Focus on promoting new uses for old products.
Answer: D
Q2) In the context of a marketing mix, the product includes:
A)the name of the brand.
B)the point of purchase.
C)the elements of advanced strategic planning.
D)personal selling.
Answer: A
Q3) Market segments cannot be differentiated by ethnicity and multicultural aspects.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) In the context of ethical theories, which of the following statements is true of moral relativism?
A)Moral activists believe that an act that is legally wrong is always ethically wrong.
B)It does not believe in absolute rules.
C)Moral relativists believe that the most beneficial choice for the most people is ethically correct.
D)It is a belief based on rules and individual obligations.
Answer: B
Q2) Conventional morality is the most basic level of ethical development.
A)True
B)False
Answer: False
Q3) Which of the following statements is true of morals?
A)They are universal and seldom vary.
B)They are independent of factors such as culture and religion.
C)They reflect the laws and regulations that affect social and economic behavior.
D)They set absolute standards for good and bad that are enforced by the law.
Answer: C
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5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) Which of the following statements is true of tweens?
A)Tweens do not spend money on themselves and are reliant on their parents and relatives.
B)Most tweens prefer and value traditional media over social media unlike other cohorts.
C)Tweens are influenced by sales reps and word-of-mouth recommendations.
D)Most tweens own a mobile phone and almost half of them have smartphones.
Q2) Laelle Corp., a technological firm, promotes its products through various social media platforms. Which of the following statements is most likely to be true about Laelle Corp.?
A)Laelle Corp.is can use the social media platforms only as a one-way communication, similar to network television.
B)Laelle Corp.is able to create conversations with its customers and establishes meaningful connections.
C)Laelle Corp. has reduced its reach by promoting its products via social media platforms.
D)The platforms display content generated by Laelle Corp. but not its customers.
Q3) List and explain the four core values that have strongly influenced American attitudes and lifestyles.
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Chapter 5: Developing a Global Vision
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Q1) A company wishing to buy goods abroad must first obtain a foreign currency exchange from the control agency.
A)True
B)False
Q2) Traditionally, marketing-oriented multinational corporations enable individual subsidiaries to compete independently in domestic markets.
A)True
B)False
Q3) The Uruguay Round replaced General Agreement on Tariffs and Trade (GATT) with _____.
A)the European Union (EU)
B)the World Trade Organization (WTO)
C)the North American Free Trade Agreement (NAFTA)
D)the International Monetary Fund (IMF)
Q4) Why do firms that enter into foreign trade need to adhere to the principles of the marketing mix?
Q5) Explain the four stages in which multinational corporations develop their businesses.
Q6) Discuss exports in the United States.
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) Sam uses public transport to commute to work. However, he has always wanted to own a car and believes commuting by car will save time. This scenario exemplifies Sam's
A)selective retention
B)cognitive dissonance
C)value
D)want
Q2) Saraz Inc., a leading brand of apparels, has several branches all over the country. Upon research, the marketing managers identify that teenagers do not prefer their brand as much as other age groups do. Therefore, the firm modifies its existing designs to attract the youth. In this case, the teenage group can be referred to as a _____.
A)subculture
B)social class
C)popular culture
D)reference group
Q3) In the context of information searches, explain a marketing-controlled information source.
Q4) How do reference groups influence consumer buying decisions?
Q5) How do psychological factors affect consumer buying decisions?
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Chapter 7: Business Marketing
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70 Flashcards
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Sample Questions
Q1) Which of the following statements is a difference between wholesalers and retailers?
A)Wholesalers use purchased goods to incorporate into other products, while retailers seek to achieve goals other than the standard business goals of profit.
B)Wholesalers account for the greatest volume of purchases of any customer category, while retailers buy business products and resell them to business customers.
C)Wholesalers sell mostly to retailers and other organizational customers, while retailers sell mainly to final consumers.
D)Wholesalers are often known as original equipment manufacturers, or OEMs, while retailers are often known as buying centers.
Q2) In the context of a buying center, which of the following statements is true of gatekeepers?
A)They initiate the buying process.
B)They have the formal power to approve a brand.
C)They regulate the flow of information.
D)They negotiate a purchase.
Q3) Differentiate between major equipment and accessory equipment.
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) Customers looking for luxury want products that exhibit careful craftsmanship, timeless design, prestige, and exclusivity. This type of market is segmented by ethnicity.
A)True
B)False
Q2) Promotion is one of the components that forms a marketing mix.
A)True
B)False
Q3) Mass-marketing efforts will continue to be used by marketers:
A)because consumers have more time to make purchase decisions.
B)to gather detailed information on customers, which is not possible in direct marketing.
C)to remind consumers of a product.
D)because they allow marketers to target customers with extremely relevant offerings.
Q4) With the personal and targeted nature of customer relationship management (CRM), consumers spend more time making purchase decisions.
A)True
B)False
Q5) Discuss the importance of market segmentation.
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Chapter 9: Marketing Research
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Sample Questions
Q1) The _____ of marketing research is to address "what if" questions.
A)predictive function
B)diagnostic function
C)prescriptive function
D)descriptive function
Q2) In the context of marketing research projects, the research design specifies:
A)how and when data will be gathered.
B)which management decision problem needs to be solved.
C)what modifications should to be made to the approved project budget.
D)how employees are to be motivated.
Q3) Which of the following statements is true of sampling error?
A)It occurs when the sample drawn from a population differs from the target population.
B)It occurs when the selected sample is an imperfect representation of the overall population.
C)It occurs when a sample somehow does not represent the target population.
D)It occurs when there is a measured difference between the information desired and the information provided.
Q4) Briefly discuss probability samples and nonprobability samples.
Q5) Explain the importance of marketing research in marketing decision making.
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Chapter 10: Product Concepts
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Sample Questions
Q1) One of the functions of universal product codes (UPCs) is to:
A)allow products to be modified for improved sales.
B)help customers resell products that have no market value.
C)increase customer loyalty and brand value of a product.
D)help retailers prepare records of customer purchases.
Q2) Compare the four categories of consumer products with examples of each category.
Q3) A difference between informational labeling and persuasive labeling is that informational labeling:
A)focuses on a promotional theme or logo rather than on consumer information.
B)increases a consumer's cognitive dissonance after a purchase.
C)helps a consumer make proper product selections when making a purchase.
D)gives an impression of environmental friendliness to a product.
Q4) Greenwashing is the term used to describe industrial processes that cause pollution above the permissible limit set by the government.
A)True
B)False
Q5) Discuss the significance of product mix width and product line depth in marketing.
Q6) Discuss the concept of planned obsolescence.
Q7) Define express warranty and implied warranty.
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Which of the following is an advantage of simultaneous product development?
A)It shortens the development process and reduces costs.
B)It eliminates the need for conducting laboratory tests on product prototypes.
C)It ensures that product development occurs in highly structured stages.
D)It eliminates the need for test marketing a new product.
Q2) Unlike the growth stage of the product life cycle, in the introductory stage, emphasis switches from primary demand promotion to aggressive brand advertising and communication of the differences between brands.
A)True
B)False
Q3) In comparison to early adopters, which of the following statements is true of the early majority?
A)They are more likely to be opinion leaders.
B)They are less likely to extend the adoption process.
C)They are self-confident, and they rely less on group norms.
D)They are likely to collect more information and evaluate more brands.
Q4) A concept test evaluates an existing product idea, after the creation of a prototype.
A)True
B)False
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Chapter 12: Services and Nonprofit Organization Marketing
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61 Flashcards
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Sample Questions
Q1) _____ is defined as the inability of the production and consumption of a service to be detached.
A)Intangibility
B)Heterogeneity
C)Inseparability
D)Perishability
Q2) In the context of service processes, _____ takes place when the service is directed at a customer.
A)information processing
B)possession processing
C)mental stimulus processing
D)people processing
Q3) Internal marketing is more important for goods manufacturers than service firms.
A)True
B)False
Q4) A credence quality is a characteristic that can be easily assessed before purchase.
A)True
B)False
Q5) Describe the four promotion strategies that marketers use to promote services.
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Chapter 13: Supply Chain Management and Marketing Channels
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Q1) Agents and brokers are wholesaling intermediaries who take title to goods and services they market.
A)True
B)False
Q2) _____ refers to the elements of the composition and appearance of a product that make it desirable.
A)Form utility
B)Time utility
C)Exchange utility
D)Place utility
Q3) In the context of demand management, _____ is a method companies use to align production with demand by merging tactical and strategic planning methods across functional areas of the business.
A)sales and operations planning
B)demand and order fulfillment planning
C)material and service planning
D)technology and integration planning
Q4) Briefly explain the emerging distribution channel structures with examples.
Page 15
Q5) Explain the product factors that affect the selection of a distribution channel.
Q6) What are the disadvantages of globalizing a company's supply chain?
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Page 16
Chapter 14: Retailing
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Sample Questions
Q1) Specialty stores compete on the basis of low prices, high turnover, and high volume.
A)True
B)False
Q2) Which of the following statements is true of retail channel omnification?
A)Physical and online stores are combined into a single system for delivering on customer demand.
B)Consumers are required to pick up their orders from a physical store after purchasing them online.
C)Physical stores are replaced by warehouses to store goods that can be purchased online.
D)Consumers are required to visit physical stores before getting access to their online store.
Q3) In addition to making shopping easy and convenient for the customer, an effective layout:
A)heightens the olfactory sense of the customers.
B)provides customers with the ability to easily replace sold items.
C)can persuade customers to purchase expensive products.
D)has a powerful influence on traffic patterns and purchasing behavior.
Q4) What is brand cannibalization? Why is it dangerous to the retailer?
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Chapter 15: Marketing Communications
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Q1) Owned media is also called content marketing.
A)True
B)False
Q2) Which of the following is a difference between a push strategy and a pull strategy?
A)Social media are used in a push strategy, whereas personal selling is used in a pull strategy.
B)Wholesalers are targeted in a push strategy, whereas end consumers are targeted in a pull strategy.
C)A push strategy focuses on content marketing, whereas a pull strategy focuses on offering aggressive discounts.
D)No intermediaries are involved in a push strategy, whereas wholesalers and retailers are involved in a pull strategy.
Q3) Which of the following statements is a characteristic of sales promotion?
A)It is a long-run tool used by marketers.
B)It complements advertising by yielding faster sales responses.
C)It is allotted less marketing money than advertising.
D)It uses personal selling, advertising, and public relations.
Q4) Explain interpersonal and mass communication.
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Chapter 16: Advertising, Public Relations, and Sales Promotion
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Sample Questions
Q1) Tread Inc., a sports shoe manufacturing company, began its campaign by spending one million dollars on advertising. Currently, Tread Inc. spends 200 million dollars on advertising. Initially, the advertisements contributed to the gradual increase in returns, but the company now confronts diminishing returns. In this scenario, which of the following phenomena explains Tread Inc.'s diminishing returns?
A)A unique selling proposition
B)The advertising response function
C)Switch and bait advertising
D)Strategic advertising
Q2) _____ is the series of decisions advertisers make regarding the selection and use of media, enabling the marketer to optimally and cost-effectively communicate the message to the target audience.
A)Media planning
B)Cost per click
C)Media fragmentation
D)Cross-media advertising
Q3) Explain with an example how marketers manage unfavorable publicity during a crisis.
Q4) Explain the importance of media planning in advertising.
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Chapter 17: Personal Selling and Sales Management
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Q1) Briefly explain the impact of technology on personal selling.
Q2) A sales presentation is a written document or professional presentation that outlines how a company's product or service will meet or exceed the client's needs.
A)True
B)False
Q3) In the context of steps in the sales process, describe the methods of qualifying leads.
Q4) Fournotts Corp., an electronic equipment manufacturer, collects data about its customers through customer interactions. On the basis of the data, the firm customizes its products and services according to the needs of the appropriate customer segments. This is an example of effective _____.
A)transaction management
B)campaign management
C)lead generation
D)lead qualification
Q5) A sales manager's only job is to maximize sales at a reasonable cost while also maximizing profits.
A)True B)False
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Chapter 18: Social Media and Marketing
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Sample Questions
Q1) According to Charlene Li and Josh Bernoff of Forrester Research, which of following categories of social media users posts comments, ratings, and reviews of products and services on blogs and forums?
A)Critics
B)Spectators
C)Joiners
D)Inactives
Q2) Social bookmarking sites differ from social news sites in that:
A)the objective of their users is to collect, save, and share interesting and valuable links.
B)they allow users to edit the stories to ensure that the information posted is accurate.
C)users can decide the content they want to promote on a given website by voting.
D)they allow consumers to use them as location-based social networking sites.
Q3) Review sites lack the scope for two-way interaction between marketers and consumers.
A)True
B)False
Q4) Explain the reasons for the recent popularity of mobile marketing.
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) Define consumer penalty and give reasons for imposing consumer penalties.
Q2) When Lofonift Inc. introduced its flagship product, an MP3 player, it captured the market by offering its product at a very low price. This gradually forced many of its competitors out of business. Once its competitors were out of business, Lofonift Inc. raised the price. In this scenario, Lofonift Inc. most likely indulged in _____.
A)predatory pricing
B)price discrimination
C)status quo pricing
D)price fixing
Q3) During the off-season, the Rues Hotel offers a 25 percent reduction on its rooms to attract guests. Given this information, which of the following is illustrated in this scenario?
A)The power of yield management systems
B)The advantage of markup pricing
C)The relationship between price and quality
D)The use of price as a promotional tool
Q4) Unlike break-even pricing, markup pricing uses complicated concepts of cost.
A)True
B)False
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Page 22