Introduction to Marketing Exam Review
Course Introduction
Introduction to Marketing provides students with a foundational understanding of marketing principles, concepts, and practices. The course explores key topics such as market research, consumer behavior, product development, pricing strategies, promotion, and distribution channels. Students learn how organizations identify and satisfy customer needs, create value, and build strong customer relationships in a dynamic business environment. Emphasis is placed on real-world examples and case studies to illustrate the role of marketing in achieving organizational goals and driving business success.
Recommended Textbook
Marketing 4th Canadian Edition by Dhruv Grewal
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18 Chapters
2312 Verified Questions
2312 Flashcards
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Page 2
Chapter 1: Overview of Marketing
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) The Old Oven, a multinational bakery chain, donated its worldwide revenue of a month for the rehabilitation activities in a country affected by an earthquake.Which of the following is specifically exemplified in this case?
A)Marketing enriching society
B)Marketing aiding entrepreneurship
C)Marketing helping global expansion
D)Marketing impacting supply chain management
E)Marketing through social media
Answer: A
Q2) Which of the four Ps of marketing does the $300,000 tag represent?
A)People
B)Price
C)Place
D)Product
E)Promotion
Answer: B
Q3) Promotion generally can enhance a product or service's value.
A)True
B)False
Answer: True
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Chapter 2: Developing Marketing Strategies and a Marketing Plan
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Zorbo Furniture Inc.is a firm that manufactures and markets wooden furniture.One of the departments in the firm is devoted to the production and marketing of office furniture.The department is managed independently from other departments and is held accountable for its profitability.In this case, the office furniture department is an example of a(n):
A)joint venture.
B)executive department.
C)product line.
D)subsidiary firm.
E)strategic business unit.
Answer: E
Q2) Which of the following is true of situation analysis?
A)It is performed using a SWOT analysis
B)It is independent of political and demographic factors.
C)It overlooks the opportunities and threats to an organization.
D)It categorizes strengths and weaknesses as outside the control of a firm.
E)It is executed before creating the mission statement of an organization.
Answer: A
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Chapter 3: Analyzing the Marketing Environment
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) Which of the following statements is true of the effect of changing gender roles in society on marketers?
A)Absence of the role of father in commercials for children's goods
B)Increase in advertisements involving single mothers
C)Gender neutrality in the positioning of products
D)Discouraging the trend of transcending gender boundaries
E)Portraying women as more competent than men
Answer: C
Q2) Mary, Jane, and Brad were all born the year after World War II.Leisure time is a high priority for them.They have an obsession with maintaining their youth and love rock 'n' roll.They belong to the generational cohort of:
A)baby boomers.
B)millenials.
C)seniors.
D)Generation X.
E)Generation Y.
Answer: A
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Page 5
Chapter 4: Consumer Behaviour
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) In Toronto, a retail food store dropped its prices by 12 percent, which led to an increase in its market share from 30 to 45 percent.Because the lower price was the reason why shoppers wanted to buy at that particular store and not at the other competitor retail stores, this is an example of:
A)a compensatory decision rule.
B)postpurchase dissonance.
C)a determinant attribute.
D)decision heuristics.
E)a noncompensatory decision rule.
Q2) A change in a person's thought process or behaviour that arises from experience and takes place throughout the consumer decision process is called:
A)perception.
B)involvement.
C)learning.
D)motive.
E)attitude.
Q3) Describe the types of risk associated with purchase decisions that can delay or discourage a purchase.
Q4) Explain Maslow's hierarchy of needs.
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Chapter 5: Business-To-Business Marketing
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) Reassure Inc.is an insurance firm that focuses on health insurance.Customers must submit all personal details related to their health when taking out an insurance policy.The firm marks all these details as confidential and only a few people within the firm have access to them.In a buying centre context, this role played by the insurance firm in restricting access to client information is similar to the role of a(n):
A)decider.
B)gatekeeper.
C)influencer.
D)initiator.
E)user.
Q2) At which stage of business-to-business buying process is the evaluation and decision-making activity carried out by the committee at Kid's World?
A)Order specification
B)Vendor performance assessment
C)Proposal analysis and supplier selection
D)Product specification
E)RFP process
Q3) What is business-to-business (B2B)marketing?
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Chapter 6: Segmentation, Targeting, and Positioning
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) A graph shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable.This sample of consumers felt Porsche was the sportiest and classiest of the cars in the study.They felt Plymouth was the most practical and conservative.Porsche is the ideal product when it came to classiness and sportiness, which is represented on the graph as a(n):
A)PSYTE cluster.
B)ideal point.
C)VALS cluster.
D)introductory point.
E)target market.
Q2) An upscale restaurant that previously flourished on expense account dinners and corporate events has also started stressing value as a sales tool.This is an example of:
A)brand repositioning.
B)undifferentiated positioning.
C)perceptual mapping.
D)mass marketing.
E)micro customization.
Q3) Explain how the psychographic system VALS classifies customers.
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Chapter 7: Marketing Research
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) A new startup was able to find answers to its marketing research questions from Statista website.This is an example of _____.
A)Big data
B)Panel data
C)External secondary data
D)Internal secondary data
E)Observation
Q2) APR Consulting is an integrated marketing solutions company.When approached by clients who want to market a new product, APR Consulting will ideally start the market research process by:
A)identifying the target market and customer needs.
B)deciding how much time and money the clients are willing to spend.
C)defining the research problem and objectives.
D)defining the alternatives and uncertainties.
E)developing and implementing the research plan.
Q3) Explain the method of projective technique used for data collection in market research.Provide one example.
Q4) What are the advantages of primary research?
Q5) What is syndicated data?
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Chapter 8: Developing New Products
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Which of the following is NOT true about new products?
A)Companies can successfully offer a new product that customers never knew they needed.
B)Without new products, value of a company will decline.
C)Companies should always avoid saturated markets for their new products.
D)Loyal customers do appreciate and expect changes in a product.
E)The longer a product exists in the marketplace, the more likely it is that the market will become saturated.
Q2) A new product might be failed for all the following reasons EXCEPT:
A)Inappropriate product testing
B)Targeting the wrong segment
C)Poor positioning
D)Being disruptive innovation
E)Bad timing
Q3) How does market testing help in the promotion of products?
Q4) Which stage of the product life cycle is Coca Cola in? What strategies Coca Cola should use at this stage?
Q5) In reality, the product life cycle curve of most products is bell-shaped.
A)True
B)False
Page 10
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Chapter 9: Product, Branding, and Packaging Decisions
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) The nonphysical attributes of a product, including product warranties, financing, product support, and after-sale service are called the:
A)augmented product.
B)product mix.
C)customer lifetime value.
D)brand service.
E)core customer value.
Q2) Explain the purpose of labels.
Q3) Pearly and Waves are two teeth whitening brands.Though Pearly charges more than Waves, both use the same "magical" ingredient (peroxide)and produce the same result.Most consumers typically opt for Waves.Which of the following is most likely influencing their purchase decision?
A)Brand diversification
B)Brand depth
C)Brand loyalty
D)Product line
E)Perceived value
Q4) Explain the risks associated with cobranding.Provide examples to support your answer.
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Chapter 10: Services: The Intangible Product
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) All the followings are unique characteristics of a service EXCEPT:
A)Intangible
B)Perishable
C)Variable
D)Durable
E)Inseparable
Q2) Karen always uses the services of Flash Couriers because of its competency in delivering packages almost always on time.The service dimension influencing Karen's choice in this scenario is:
A)inseparability.
B)reliability.
C)relativity.
D)empathy.
E)tangibility.
Q3) The Clare Group of hotels is known for its impeccable service.How can the company ensure that there is no variability in the quality of service across its hotels in different locations?
Q4) What is a voice-of-customer program?
Q5) How do firms define customers' zone of tolerance? Provide one example to support your answer.
12
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Chapter 11: Pricing Concepts and Strategies: Establishing Value
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128 Verified Questions
128 Flashcards
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Sample Questions
Q1) Ramsons manufactures binoculars.Although the binoculars are priced unreasonably high, Ramsons manages to sell a large number of units each year because Ramsons is the sole supplier of binoculars in the market.This is an example of:
A)a monopoly.
B)an oligopoly.
C)monopolistic competition.
D)pure competition.
E)more price competition.
Q2) A strategy companies use to emphasize the continuity of their retail prices at a level somewhere between the regular, nonsale price and the deep-discount sale prices their competitors may offer is called:
A)everyday low pricing.
B)external reference price.
C)high/low pricing.
D)market penetration pricing.
E)price skimming.
Q3) Differentiate between horizontal price fixing and vertical price fixing.Provide one example for each.
Q4) Briefly explain reference price and external reference price.
Page 13
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Chapter 12: Distribution Channels
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Jake walks into a store that has many cellphone brands and buys a phone for his personal use.Which of the following segments does Jake belong to?
A)Business segment 2
B)Consumer segment 1
C)Business segment 1
D)Consumer segment 2
E)Sales force
Q2) A company with a corporate vertical marketing system is most likely to:
A)join with other firms through contracts to obtain economies of scale and co-ordination.
B)satisfy its own objectives and maximize its own profits, often at the expense of the others.
C)have less control and cannot dictate the priorities and objectives of the supply chain.
D)own facilities such as manufacturing plants, warehouse facilities, and retail outlets.
E)allow another firm to operate a retail outlet, using the format developed by the company.
Q3) Describe a contractual vertical marketing system.
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14
Chapter 13: Retailing and Omni-Channel Marketing
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Retailers that provide convenient store layouts that make shopping faster and easier for customers are concentrating on the retail mix component of:
A)product.
B)place.
C)presentation.
D)price.
E)process.
Q2) Which of the following retail channels allows retailers to collect information about consumers' shopping behaviour that can be used to improve the overall shopping experience?
A)Stores
B)The Internet
C)Kiosks
D)Catalogues
E)Mail order
Q3) How can retailers differentiate themselves from other retailers in the competitive market?
Q4) Why do retailers develop private-label brands? Give an example.
Q5) Define the term "retailing."
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Chapter 14: Integrated Marketing Communications
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133 Verified Questions
133 Flashcards
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Sample Questions
Q1) Cossacks is a computer manufacturing company.To boost sales, it offers discounts on computers to encourage retailers to sell higher volumes.Which of the following strategies best describes Cossacks's distribution channel strategy?
A)Impressions
B)Push
C)Reach
D)Media buy
E)Frequency
Q2) Occasions manufactures greeting cards.Its new advertisement announces great discounts on its cards for the Christmas season.Occasions is the:
A)receiver.
B)decoder.
C)transmitter.
D)creator.
E)sender.
Q3) Company's weblog must be updated periodically.
A)True
B)False
Q4) Explain the key components of print advertising.
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Chapter 15: Advertising, Sales Promotions, and Personal Selling
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128 Verified Questions
128 Flashcards
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Sample Questions
Q1) Advertisements that focus on public welfare and are generally sponsored by nonprofit institutions, civic groups, religious organizations, trade associations, or political groups can be best categorized as:
A)public service announcements.
B)operational advertisements.
C)institutional advertisements.
D)corporate announcements.
E)product-focused advertisements.
Q2) Once consumers are aware that a company or product exists, communication must work to:
A)define the objectives of marketing communication.
B)match communication with competitors.
C)create top-of-mind awareness.
D)increase their interest level.
E)instigate aided recall in their minds.
Q3) Encouraging repurchase is the major objective of loyalty programs.
A)True
B)False
Q4) Explain any three types of consumer sales promotions.Provide one example for each.
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Chapter 16: Social and Mobile Marketing
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Which of the following types of analytics is used to track the effectiveness of social, mobile, search and display ads, as well as divide ad effectiveness by device, platform, or type?
A)Content
B)Social
C)Mobile
D)Conversion
E)Advertising
Q2) Which of the following is primarily a professional networking site?
A)YouTube
B)Facebook
C)Instagram
D)Pinterest
E)LinkedIn
Q3) Even the greatest analysis has little use if firms fail to implement what they have learned from analyzing their social and mobile media activity.
A)True
B)False
Q4) Discuss the role of LinkedIn as a marketing platform.
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Chapter 17: Global Marketing
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) The theory that states that if the exchange rates of two countries are in equilibrium, a product purchased in one will cost the same in the other, expressed in the same currency is referred to as:
A)gross domestic product.
B)human development index.
C)purchasing power parity.
D)gross national product.
E)potential output.
Q2) Which of the following designates the quantity of a product that can be brought into a country during a specified time period?
A)Tariff
B)Embargo
C)Quota
D)Strategic alliance
E)Exchange rate
Q3) Strategic alliances refer to collaborative relationships between independent firms who invest in one another.
A)True
B)False
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Page 19
Chapter 18: Ethics and Socially Responsible Marketing
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125 Verified Questions
125 Flashcards
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Sample Questions
Q1) During the implementation phase, in what way might sourcing decisions be a problem area for firms?
Q2) Research shows that Canadian customers are willing to pay a premium price for chickens labeled "grain-fed", and "hormone-free".By regulations in Canada, all chickens are given a feed that consist of 85% grain.Furthermore, it is forbidden to use hormones in raising poultry in Canada.Therefore, both labels are stating the obvious.
Q3) Charles's company, which is facing an ethical issue, has identified the stakeholders, listened to their concerns, and gathered available data to deal with the issue.Which of the following is the next step to be undertaken by the company?
A)Pursuing legal discourse
B)Hiring new employees to speed up the decision-making process
C)Identifying the issues
D)Choosing a course of action
E)Brainstorming and evaluating alternatives
Q4) The first step in ethical decision making is identifying the shareholders and gathering information.
A)True
B)False
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Page 20