Introduction to Marketing Exam Solutions
Course Introduction
Introduction to Marketing provides an overview of the fundamental concepts, strategies, and practices involved in marketing products and services. Students will explore key topics such as market research, consumer behavior, the marketing mix (product, price, place, promotion), segmentation, targeting, and positioning. The course will also examine the impact of digital marketing, global markets, and ethical considerations in marketing decisions. Through case studies and real-world examples, students will gain practical insights into how businesses identify and satisfy customer needs in a competitive environment.
Recommended Textbook
Essentials of Marketing A Marketing Strategy Planning Approach 14th Edition by Perreault
Available Study Resources on Quizplus
18 Chapters
5559 Verified Questions
5559 Flashcards
Source URL: https://quizplus.com/study-set/2692
Page 2
Chapter 1: Marketings Value to Consumers, Firms, and Society
Available Study Resources on Quizplus for this Chatper
393 Verified Questions
393 Flashcards
Source URL: https://quizplus.com/quiz/53732
Sample Questions
Q1) Marketing:
A) applies to both profit and nonprofit organizations.
B) says that marketing should take over all production, accounting, and financial activities.
C) should begin as soon as goods are produced.
D) does away with the need for advertising.
Answer: A
Q2) The American Marketing Association's statement of ethics sets specific ethical standards for many aspects of marketing.
A)True
B)False Answer: True
Q3) Intermediaries specialize in trade and production.
A)True
B)False
Answer: False
Q4) Marketing activities should be of no interest to a nonprofit organization.
A)True
B)False Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Marketing Strategy Planning
Available Study Resources on Quizplus for this Chatper
322 Verified Questions
322 Flashcards
Source URL: https://quizplus.com/quiz/53731
Sample Questions
Q1) A S.W.O.T. analysis
A) seeks to improve strategy planning by "Scanning for Warnings, Omens, and Tips" about competitors' plans.
B) is not necessary if competitors have already entered the market.
C) defends against potential competitive threats by planning specific "safeguards, weapons, or tactics."
D) should help a manager develop a strategy that leads to a competitive advantage.
E) None of these apply to a S.W.O.T. analysis.
Answer: D
Q2) A S.W.O.T. analysis can help a marketing manager:
A) define in which business and markets the firm wants to compete.
B) narrow down to a specific target market and marketing mix from the many alternatives available.
C) see the pros and cons of different possible strategies.
D) develop a competitive advantage.
E) All of these can help a marketing manager who is using a S.W.O.T. analysis. Answer: E
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Evaluating Opportunities in the Changing
Market Environment
Available Study Resources on Quizplus for this Chatper
360 Verified Questions
360 Flashcards
Source URL: https://quizplus.com/quiz/53730
Sample Questions
Q1) A widely used measure of income in most countries is:
A) gross domestic product.
B) total consumption expenditures.
C) disposable personal product.
D) population times GDP.
E) socio-economic product.
Answer: A
Q2) Which of the following is NOT primarily an example of the influence of technology on the external market environment?
A) A camera producer finds a way to enable a camera to store digital pictures-without film.
B) Machines are developed to assemble defect-free electronic components.
C) Robots on a production line make it possible to lower cost.
D) A manufacturer of frozen food is finding that consumers prefer containers that can go from the freezer direct to a microwave oven.
E) The government passes a law that prohibits use of cell phones while driving a vehicle.
Answer: E
To view all questions and flashcards with answers, click on the resource link above.
5
Chapter 4: Focusing Marketing Strategy With Segmentation and Positioning
Available Study Resources on Quizplus for this Chatper
253 Verified Questions
253 Flashcards
Source URL: https://quizplus.com/quiz/53729
Sample Questions
Q1) Which of the following is a possible danger when using a combining approach to target marketing?
A) Competitors may do a better job appealing to submarkets.
B) Coordinating the different marketing mixes for the different segments is difficult.
C) The target market may become larger over time.
D) Economies of scale may develop.
E) All are dangers.
Q2) "Qualifying dimensions," in contrast to "determining dimensions,"
A) are the only kind of dimensions useful for marketing strategy planning.
B) indicate whether a person might be a potential customer but do not show which product or brand that person might buy.
C) are the customer-related dimensions in a product-market.
D) affect the product or brand a person is likely to purchase.
E) None of these alternatives is correct.
Q3) A product-market segment is "operational" if it is big enough to be profitable to the firm.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Final Consumers and Their Buying Behavior
Available Study Resources on Quizplus for this Chatper
358 Verified Questions
358 Flashcards
Source URL: https://quizplus.com/quiz/53728
Sample Questions
Q1) An expectation is
A) an event that a person likes to remember.
B) a positive cue.
C) an unfulfilled need.
D) an outcome that a person looks forward to.
E) none of these alternatives is correct.
Q2) An expectation is a future outcome or event that a person anticipates will happen.
A)True
B)False
Q3) When developing marketing mixes for international markets, it is detrimental for managers to predict consumer behavior based on:
A) economic needs.
B) culture.
C) personal intuition.
D) physiological needs.
E) input from locals in overseas markets.
Q4) "Empty nesters" is a term that refers to young couples with no children.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Business and Organizational Customers and Their Buying Behavior
Available Study Resources on Quizplus for this Chatper
277 Verified Questions
277 Flashcards
Source URL: https://quizplus.com/quiz/53727
Sample Questions
Q1) A _____ refers to all of the people who participate in or influence a purchase.
A) procurement department
B) bidding group
C) set of gatekeepers
D) sales analysis group
E) buying center
Q2) Multiple buying influence is MOST likely to occur in which of the following purchases?
A) Note pads
B) A voice-mail phone system
C) A replacement for a broken chair
D) Gasoline
E) Paper clips
Q3) Large wholesale and retail buyers typically:
A) pay close attention to each of the products they buy.
B) don't trust automatic inventory control methods.
C) see themselves as selling agents for manufacturers.
D) buy most of their products as straight rebuys.
E) None of these alternatives is correct.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Improving Decisions With Marketing Information
Available Study Resources on Quizplus for this Chatper
263 Verified Questions
263 Flashcards
Source URL: https://quizplus.com/quiz/53726
Sample Questions
Q1) Use of the scientific method in marketing research forces researchers to use an inflexible process.
A)True
B)False
Q2) Wizard Toy Company's marketing researcher conducted a survey to find out the percentage of customers who, after receiving a promotional mailing about a new toy, actually went out and purchased the product. This is an example of
A) a response rate.
B) cross-tabulation.
C) personal interviews.
D) quantitative research.
E) an experimental method.
Q3) Which of the following statements is NOT accurate concerning the five-step approach?
A) Step 1 defines the problem.
B) Step 2 is early identification of solution.
C) Step 3 gathers problem-specific data.
D) Step 4 interprets data.
E) All of these are correct.
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 8: Elements of Product Planning for Goods and Services
Available Study Resources on Quizplus for this Chatper
385 Verified Questions
385 Flashcards
Source URL: https://quizplus.com/quiz/53725
Sample Questions
Q1) Procter and Gamble buys unprocessed logs which are handled as little as needed to move them to its plant. Eventually, they become part of P and G's disposable diapers and are considered an expense item on P and G's income statement. For P and G, logs are:
A) farm products
B) supplies
C) component parts
D) component materials
E) raw materials
Q2) VoiceSys, Inc. produces voice-mail switchboard systems used in large office buildings, hotels, and other facilities. VoiceSys's products are selling so well that it has decided to buy new equipment that will increase its production capacity. This example best illustrates
A) why the demand for a particular seller's equipment is inelastic.
B) derived demand.
C) why the industry demand for this kind of equipment is quite elastic.
D) that the market for installations is a "boom or bust" business.
E) All of these alternatives are correct.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Product Management and New-Product Development
Available Study Resources on Quizplus for this Chatper
258 Verified Questions
258 Flashcards
Source URL: https://quizplus.com/quiz/53724
Sample Questions
Q1) Persuasive promotion is especially important in which of the following product life cycle stages?
A) Market maturity
B) Sales decline
C) Market introduction
D) Market growth
Q2) Total quality management applies when the firm's product is a physical good, but not if it is a service.
A)True
B)False
Q3) Product managers or brand managers are most often found in firms with only one or a few related products.
A)True
B)False
Q4) During the various stages of the product life cycle, the attitudes and needs of target customers do not change.
A)True
B)False
Page 11
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Place and Development of Channel Systems
Available Study Resources on Quizplus for this Chatper
293 Verified Questions
293 Flashcards
Source URL: https://quizplus.com/quiz/53723
Sample Questions
Q1) When Amazon.com collects products from many small producers, the company is involved in _____.
A) assorting
B) accumulating
C) bulk-breaking
D) quantitizing
E) sorting
Q2) For homogeneous shopping goods, marketers favor low-cost retailers primarily because:
A) customers focus on low prices.
B) customers focus on low quality.
C) customers focus on broad product assortments.
D) low-cost retailers provide extensive customer support.
E) low-cost retailers have many outlets close to customers.
Q3) Vertical marketing systems are growing in the U.S., but declining in the rest of the world.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
12
Chapter 11: Distribution Customer Service and Logistics
Available Study Resources on Quizplus for this Chatper
214 Verified Questions
214 Flashcards
Source URL: https://quizplus.com/quiz/53722
Sample Questions
Q1) For which of the following goods would air be the least useful mode of transportation?
A) High-fashion clothing
B) Oil
C) Flower and bulbs from Holland
D) Emergency delivery of repair parts
E) Parts for the electronic industry
Q2) Transporting cost as a percentage of selling price is lowest for:
A) sand
B) factory machinery
C) pharmaceuticals
D) chemicals
E) cabbage
Q3) How PD functions are shared will have the greatest effect on which of the other three Ps?
A) Price decisions.
B) Promotion decisions.
C) Product decisions.
D) Positioning decisions.
E) People decisions.
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Retailers, Wholesalers, and Their Strategy Planning
Available Study Resources on Quizplus for this Chatper
392 Verified Questions
392 Flashcards
Source URL: https://quizplus.com/quiz/53721
Sample Questions
Q1) Manufacturers' agents sell related products for several competing manufacturers.
A)True
B)False
Q2) A(n) _____ is a blend of manufacturers' agent and selling agent-handling the entire export function for several producers of similar but noncompeting lines.
A) import broker
B) auction company
C) export broker
D) combination export manager
E) export or import agent
Q3) Agent wholesalers:
A) Own the products they sell.
B) Provide more functions than merchant wholesalers.
C) Focus on buying and selling merchandise.
D) Have higher costs of operation than merchant wholesalers.
E) All of these alternatives are correct for agent wholesalers.
Q4) In addition to food, warehouse clubs carry homogeneous shopping goods.
A)True
B)False
14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: Promotion-Introduction to Integrated Marketing Communications
Available Study Resources on Quizplus for this Chatper
341 Verified Questions
341 Flashcards
Source URL: https://quizplus.com/quiz/53720
Sample Questions
Q1) Personal selling:
A) Is indirect written communication between buyers and sellers.
B) Is indirect spoken communication between buyers and sellers.
C) Is not usually combined with other aspects of promotion in the total marketing mix.
D) Gets immediate feedback from consumers.
E) Is one of the least expensive components of the communications program.
Q2) A marketing manager should realize that the adoption curve concept implies
A) the firm's promotion target should always be the innovators.
B) the laggards are cautious, but that they are willing to adopt a new product quickly if advertising gets their attention.
C) using different promotional mixes for different adopter groups.
D) the firm's promotion target should always be the opinion leaders.
E) None of these is a good answer.
Q3) During the traditional communication process, a source does decoding and a receiver does encoding.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 14: Personal Selling and Customer Service
Available Study Resources on Quizplus for this Chatper
299 Verified Questions
299 Flashcards
Source URL: https://quizplus.com/quiz/53719
Sample Questions
Q1) Put the steps of the personal selling process in order: Prospect for new customers; Select target customer; Preplan sales call and presentation; Make sales presentation; ______________; and Follow up after the sales call.
A) Create interest
B) Open sale
C) Overcome objections
D) Close sale
E) Contact buyer
Q2) For a successful sales presentation, which of the following steps in the personal selling process most likely occurs last?
A) Preplan sales presentation
B) Follow up after purchase
C) Select target customer
D) Make sales presentation
E) Close sale
Q3) Personal selling is often a company's largest single operating expense.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
16
Chapter 15: Advertising, Publicity, and Sales Promotion
Available Study Resources on Quizplus for this Chatper
344 Verified Questions
344 Flashcards
Source URL: https://quizplus.com/quiz/53718
Sample Questions
Q1) The advertising medium of ___________ reaches local customers who are ready to buy, but differentiation is hard because many other competitors are listed in the same place.
A) Radio
B) Yellow Pages and other directories
C) Television and cable
D) Magazine
E) Internet
Q2) "Competitive advertising" tries to:
A) develop selective demand rather than primary demand.
B) keep a product's name before the public.
C) promote the competitive products of an industry rather than a particular firm.
D) build demand for a product category.
E) create goodwill for a firm.
Q3) In the U.S., the regulation of "deceptive" and "unfair" advertising is the responsibility of the Federal Trade Commission.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Pricing Objectives and Policies
Available Study Resources on Quizplus for this Chatper
305 Verified Questions
305 Flashcards
Source URL: https://quizplus.com/quiz/53717
Sample Questions
Q1) A skimming pricing policy tries to sell to customers who are at the top of the demand curve first, before aiming for more price sensitive customers.
A)True
B)False
Q2) Cumulative quantity discounts encourage repeat buying from the same seller, while noncumulative quantity discounts encourage large individual orders.
A)True
B)False
Q3) At Priceline's website, visitors can specify the desired price they're willing to pay for a hotel in Chicago. Priceline then electronically forwards the price to hotels until one accepts the offer. What pricing policy is Priceline using?
A) Introductory price
B) Bundle price
C) Cash discount price
D) Quantity discount price
E) Flexible price
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Price Setting in the Business World
Available Study Resources on Quizplus for this Chatper
270 Verified Questions
270 Flashcards
Source URL: https://quizplus.com/quiz/53716
Sample Questions
Q1) A sales rep is paid a commission on each product sold. The commission is:
A) part of the total fixed cost.
B) part of the total variable cost.
C) not included in figuring average cost.
D) part of the total cost, but not specifically a fixed cost or a variable cost.
E) None of these alternatives is correct.
Q2) In marginal analysis, the most profitable price is the price at which:
A) Profit is based on competitive pricing.
B) Total revenue and total cost are equal.
C) The difference between total revenue and total cost is greatest.
D) Total profit and total cost are equal.
E) None of these is a good answer.
Q3) What is the best pricing tool marketers have for looking at costs and revenue at the same time?
A) Break-even analysis
B) Markdown approach
C) Average-cost pricing method
D) Marginal analysis
E) Markup approach
To view all questions and flashcards with answers, click on the resource link above.
Page 19
Chapter 18: Ethical Marketing in a Consumer-Oriented
World: Appraisal and Challe
Available Study Resources on Quizplus for this Chatper
232 Verified Questions
232 Flashcards
Source URL: https://quizplus.com/quiz/53715
Sample Questions
Q1) Making sure that the benefits a customer receives from a marketing mix exceed the customer's costs of obtaining those benefits is one way to gain a competitive advantage.
A)True
B)False
Q2) The American Customer Satisfaction Index makes it possible to track changes in consumer satisfaction measures over time and even allows comparison among countries.
A)True
B)False
Q3) A marketing plan:
A) is a combination of several marketing strategies.
B) must cover a one-year period.
C) consists of a target market and an appropriate marketing mix.
D) includes the time-related details for implementing a marketing strategy.
E) All of these alternatives are correct.
Q4) Consumers-as well as business firms-should behave in a more socially responsible manner to improve the performance of our macro-marketing system.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 20