Introduction to Marketing Final Exam
Questions
Course Introduction
Introduction to Marketing provides students with a comprehensive overview of the key concepts, principles, and practices involved in modern marketing. The course explores the marketing environment, consumer behavior, market segmentation, targeting, and positioning strategies. Students will examine the elements of the marketing mix product, price, place, and promotion and learn how organizations use these tools to create and deliver value to customers in both digital and traditional environments. Through case studies and real-world examples, students will develop foundational skills in marketing analysis, strategy formulation, and decision-making, preparing them for further study or entry-level roles in marketing-related fields.
Recommended Textbook
Marketing 14th Edition by Roger Kerin
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Chapter 1: Creating Customer Relationships and Value
Through Marketing
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Q1) The value to consumers that comes from making an item easy to purchase through the provision of credit cards and financial arrangements constitutes ________ utility.
A)time
B)place
C)market
D)possession
E)form
Answer: D
Q2) The value to consumers that comes from having the offering available where consumers need it constitutes ________ utility.
A)time
B)place
C)possession
D)market
E)form
Answer: B
Q3) What are the three components of a person's ability to buy an offering?
Answer: The three components of a person's ability to buy an offering are authority,time,and money.
Page 3
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Chapter 2: Developing Successful Organizational and Marketing Strategies
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Q1) All of the following are marketing actions that can be taken as a result of a SWOT analysis except which?
A)Exploit an opportunity
B)Collaborate with a competitor
C)Avoid a disaster-laden threat
D)Build on a strength
E)Correct a weakness
Answer: B
Q2) The logistics industry has sales of $800 billion per year.If a third party logistics provider had sales of $8 billion,what would its market share be? Be sure to define market share and show your work in your answer.
Answer: Market share is the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself.In this case,the sales of the firm itself ($8 billion)divided by the sales revenue of all firms in the industry,including the firm itself,($800 billion)means that the third-party logistics provider in question has a 1 percent market share ($8 billion ÷ $800 billion = 1 percent).
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Chapter 3: Scanning the Marketing Environment
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Q1) An alternative to government control where an industry attempts to police itself is referred to as
A)consumer protection.
B)self-regulation.
C)industry accountability.
D)voluntary compliance.
E)government-imposed ethical policing.
Answer: B
Q2) Recent data on consumer expenditures indicate that the savings rate of U.S.consumers has
A)declined to 13 percent.
B)remained flat at 0.5 percent.
C)fluctuated minimally around 2 percent.
D)risen to 5.5 percent.
E)exploded to nearly 10 percent.
Answer: D
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Chapter 4: Ethical and Social Responsibility for Sustainable Marketing
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Q1) Gap Inc.ended its relationship with 23 foreign production facilities due to code violations.Several closings occurred because of the use of child labor.In response to these events,Gap Inc.created a large team whose purpose is to travel worldwide to ensure compliance with its Code of Vendor Conduct.This is an example of A)cause marketing.
B)profit responsibility.
C)utilitarianism.
D)moral idealism.
E)social responsibility.
Q2) What are the five steps in a social audit?
Q3) According to public opinion surveys,________ are considered to be among the least ethical occupations in the United States.
A)insurance company professionals
B)legal professionals
C)advertising practitioners
D)members of U.S.Congress
E)the news media
Q4) Describe the three major concepts of social responsibility.
Q5) Explain the difference between societal culture and business culture.
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Chapter 5: Understanding Consumer Behavior
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Q1) Which problem-solving variation would normally be used to purchase items such as crackers or laundry detergent?
A)limited problem solving
B)extended problem solving
C)routine problem solving
D)situational problem solving
E)integrated problem solving
Q2) While posting photos on Instagram,your stomach growls.You see an ad for Jimmy John's.You walk to Jimmy John's and buy a sandwich,which tastes great.In terms of behavioral learning,walking to the sandwich shop and buying a sandwich is a A)drive.
B)response.
C)reinforcement.
D)cue.
E)prompt.
Q3) Why is the family life cycle important to marketing?
Q4) Explain the differences between routine problem solving,limited problem solving,and extended problem solving.Give an example of when each might be used.
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Chapter 6: Understanding Organizations As Customers
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Q1) Archer Daniels Midland Co.(ADM)is the world's largest cocoa-bean processor.It buys cocoa beans and converts them into cocoa powder and cocoa butter,which it then sells to companies like Hershey's that manufacture consumer products containing chocolate.ADM is operating in a(n)________ market.
A)consumer
B)government
C)industrial
D)processor
E)reseller
Q2) A buy class situation affects buying center tendencies in different ways.If the buying objective is to find a good solution,the suppliers considered are both new and present,and the buying influence includes technical and operating personnel,the buy class situation is most likely a
A)modified buy.
B)new buy.
C)straight rebuy.
D)make-buy.
E)standard buy.
Q3) Identify and describe the five roles an individual can play in a buying center.
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Chapter 7: Understanding and Reaching Global
Consumers and Markets
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Q1) A country's imports
A)stimulate the imports of other countries.
B)have no effect on its exports.
C)have no relationship with its balance of payments.
D)affect its exports and exports affect its imports.
E)over time will decrease its overall economic activity.
Q2) The trade feedback effect is one argument for
A)decreasing a nation's exports.
B)free trade agreements.
C)increased tariffs and quotas.
D)international trade associations.
E)decreasing a nation's imports.
Q3) Which global market entry strategy involves slightly more risk than indirect exporting for a company but also opens the door to increased profits?
A)direct exporting
B)licensing
C)cooperative
D)joint venture
E)direct investment
Q4) Give at least one argument for and one argument against protectionism.
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Chapter 8: Marketing Research: From Customer Insights to Actions
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Q1) The foundation of all research using questionnaires is developing ________ that get clear,unambiguous answers from respondents.
A)precise questions
B)effective research protocols
C)online surveys
D)observational interventions
E)synergistic techniques
Q2) Figure 8-2 above shows that secondary data may be divided into two related parts.If B represents data collected from the U.S.Census Bureau,trade association studies,business periodicals,etc. ,which type of data is B?
A)compiled data
B)mined data
C)internal secondary data
D)external secondary data
E)observational data
Q3) Briefly explain the difference between a direct forecast and a lost-horse forecast.
Q4) What is data mining,and why is it used in marketing research?
Q5) What are the five steps in the marketing research approach?
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Chapter 9: Market Segmentation, targeting, and Positioning
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Q1) A marketing manager should develop segments for a market that meet five principal criteria.List these important factors in forming market segments.
Q2) All of the following are examples of increased customer value from organizational synergy except which?
A)lower prices
B)increased brand awareness
C)more products
D)improved distribution
E)improved quality of existing products
Q3) The perceptual map in Figure 9-11 above shows adult perceptions for beverages.Suppose a marketer is introducing a new beverage that is higher-than-average in nutrition and is intended for adults.It will probably be most useful to promote the drink as similar to what?
A)tea
B)fruit-flavored drinks
C)sugared soft drinks
D)regular milk
E)coffee
Q4) What is market segmentation and why is it important?
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Chapter 10: Developing New Products and Services
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Q1) ________ is the unique identification number that defines an item for ordering or inventory purposes.
A)A unique stock mark
B)A QR code
C)A stock keeping unit
D)An order quantity code
E)A NAICS inventory code
Q2) Services can be classified according to whether they are
A)national or global.
B)independent contractors.
C)privately owned or publicly owned.
D)delivered by people or equipment.
E)owned by individuals or corporations.
Q3) Open innovation helps organizations overcome ________,one of the organizational inertias common in new-product failures.
A)groupthink
B)intelligent failures
C)incomplete protocols
D)NIH barriers
E)bad timing
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Chapter 11: Managing Successful Products, services, and Brands
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Q1) What is multiproduct branding? What are its advantages? Disadvantages?
Q2) The preference for a specific brand is called ________ demand.
A)selective
B)secondary
C)primary
D)derived
E)explicit
Q3) Brand equity is valuable to an organization because it creates a competitive advantage and
A)it guarantees the lowest prices.
B)decision making becomes easier for consumers.
C)there is no need for coupons,discounts,or other customer incentives.
D)customers are often willing to pay a higher price.
E)new market segments are easily added to the market-product grid.
Q4) What is the marketing objective for the growth stage of the product life cycle?
A)minimize promotion
B)increase market share
C)stress differentiation
D)gain awareness
E)maintain brand loyalty
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Chapter 12: Services Marketing
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Q1) A concierge company performs everyday services such as walking the dog,picking up cleaning,waiting for the repairman,and going to the post office for people who are too busy to perform these tasks.The clients can evaluate the services provided
A)only before they are purchased.
B)in the same fashion as tangible goods.
C)more easily than evaluating tangible goods.
D)before,during,and after they are purchased or consumed.
E)only during consumption or after they are purchased.
Q2) The American Red Cross uses social marketing tools such as ________ to increase blood donations.
A)blogs
B)e-mail blasts
C)wikis
D)apps
E)tweets
Q3) What is internal marketing? Why is it important in services marketing?
Q4) What aspect of the product/service element of the marketing mix warrants special attention by service marketers?
Q5) What is the difference between intangibility and inseparability of services?
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Chapter 13: Building the Price Foundation
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Q1) Market share is the ratio of the ________ to those of the industry,including the firm itself.
A)target return on sales
B)marginal profit of the firm
C)firm's sales revenues or unit sales
D)marketing expenses of the firm
E)profits of the firm
Q2) Factors that determine consumers' willingness and ability to pay for products and services are referred to as
A)supply factors.
B)demand factors.
C)affordability factors.
D)elasticity factors.
E)macro environmental factors.
Q3) Pure monopoly is the competitive market situation where
A)many sellers follow market price for identical,commodity products.
B)one seller sets the price for a unique product.
C)few sellers compete,and are sensitive to one another's prices.
D)many sellers compete on nonprice factors.
E)one or a few sellers compete solely on nonprice factors.
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Chapter 14: Arriving at the Final Price
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Q1) Deceptive pricing practices are outlawed by legislation and enforced by which federal agency?
A)Consumer Protection Agency
B)U)S.Department of Justice
C)Federal Communications Commission
D)U)S.Department of Commerce
E)Federal Trade Commission
Q2) The retail price of DVD players has decreased from $900 in the mid-1990s to about $50 today.This is due in large part to
A)skimming pricing.
B)prestige pricing.
C)odd-even pricing.
D)customary pricing.
E)experience curve pricing.
Q3) Odd-even pricing is considered to be a ________ approach to pricing.
A)cost-oriented
B)profit-oriented
C)demand-oriented
D)competition-oriented
E)service-oriented
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Chapter 15: Managing Marketing Channels and Supply Chains
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Q1) The ________ has been used to prosecute resale restrictions,which are a supplier's attempt to stipulate to whom distributors may resell the supplier's products and in what specific geographical areas or territories they may be sold.
A)Sherman Act
B)Robinson-Patman Act
C)Federal Trade Commission Act
D)Clayton Act
E)Consumer Goods Pricing Act
Q2) Another name for quick response systems is
A)order replenishment systems.
B)customer logistics factors.
C)minimum-inventory systems.
D)web-based response systems.
E)efficient consumer response systems.
Q3) Logistics is most closely related to which element of the marketing mix?
A)product
B)place
C)production
D)promotion
E)price
Page 17
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Chapter 16: Retailing and Wholesaling
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Q1) A wholly owned extension of the producer that does not carry inventory,typically performs only a sales function,and is an alternative to agents and brokers is referred to as a
A)brokering agent.
B)cash and carry wholesaler.
C)manufacturer's sales office.
D)manufacturer's branch office.
E)merchant wholesaler.
Q2) A limited-service wholesaler that furnishes shelves that display merchandise in stores,performs all channel functions,and sells on consignment to retailers is referred to as a
A)stack loader.
B)rack jobber.
C)drop shipper.
D)desk jobber.
E)truck jobber.
Q3) What future changes may be expected in retailing?
Q4) Explain the difference between full-service and limited-service merchant wholesalers.List and describe the types of wholesalers that belong in each category.
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Chapter 17: Integrated Marketing Communications and Direct Marketing
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Q1) Advertising refers to
A)any nonpersonal,indirectly paid presentation of an organization,service,or product.
B)a short-term inducement of value offered to arouse interest in buying a product or service.
C)methods used to identify a target market for a particular product or service.
D)any paid form of nonpersonal communication about an organization,product,service,or idea by an identified sponsor.
E)any unpaid form of personal presentation of products and services.
Q2) The promotion-to-sales ratio can be used by managers to make year-to-year comparisons of their programs or to compare with
A)calculated break-even points.
B)estimated return on investments.
C)promotion-to-expense ratios.
D)competitors or industry averages.
E)advertising-to-sales promotion ratios.
Q3) Development of the promotion program focuses on the four Ws.What are they?
Q4) Compare push and pull strategies as alternative promotional methods for moving a product through a channel of distribution.
Page 19
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Chapter 18: Advertising,sales Promotion,and Public Relations
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Q1) The type of appeal used to suggest to the consumer that he or she can avoid some negative experience through the purchase and use of a product or service,a change in behavior,or a reduction in the use of a product is referred to as a(n)
A)authoritarian appeal.
B)coercive appeal.
C)family appeal.
D)guilt appeal.
E)fear appeal.
Q2) A variation of the case allowance is the ________ approach,whereby retailers receive some amount of the product free based on the amount ordered,such as 1 case free for every 10 cases ordered.
A)complementary sampling
B)bonus volume
C)Buy One Get One (BOGO)
D)free goods
E)promotional allowance
Q3) What is the difference between a coupon and a deal?
Q4) What are the steps to develop an advertising program?
Q5) List and briefly describe the four forms of institutional advertising.
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Chapter 19: Using Social Media and Mobile Marketing to
Connect With Consumers
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Q1) In using social media,a brand manager tries to select and use one or more social networks from the hundreds that exist.This often entails assessing ________ and the characteristics of a site's visitors.
A)the availability of a social network to run apps
B)the ability of the site to be measured in terms of its sales,profitability,distribution density,and other performance metrics
C)the number of users or unique visitors to the website
D)the ability of the social network to pull controversial content
E)the site's ability to present the results of keyword searches to improve the odds of a firm's products showing up in user searches
Q2) Social media advertising is helpful to brand managers because consumers are
A)captive receivers who buy products online.
B)end receivers who buy products online.
C)traditional consumers who buy products in retail stores.
D)active receivers who send user-generated content to both friends and advertisers.
E)traditional receivers who browse products online.
Q3) What is the role of a brand manager in advertising on social media like Facebook?
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Chapter 20: Personal Selling and Sales Management
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Q1) Research indicates that 25 percent of U.S.salespeople engaged in business-to-business selling consider it ________ to explicitly ask customers about competitors' strategies such as pricing practices,product development efforts,and trade and promotion programs.
A)essential
B)ineffective
C)unethical
D)counterproductive
E)impolite
Q2) The ability to understand one's own emotions and the emotions of people with whom one interacts on a daily basis is referred to as
A)empathetic intelligence.
B)emotional empathy.
C)emotional intelligence.
D)subliminal intelligence.
E)cognitive empathy.
Q3) Explain what occurs during the closing stage of the selling process and list the three types of close.
Q4) Explain the difference between personal selling and sales management.
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Chapter 21: Implementing Interactive and Multichannel Marketing
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Q1) The greatest marketspace opportunity for marketers lies in its potential for creating ________ since communication capabilities there invite consumers to tell marketers specifically what their requirements are.
A)time utility
B)price utility
C)form utility
D)possession utility
E)place utility
Q2) Travel websites such as Priceline.com are designed to be ________ oriented,with emphasis on destinations,scheduling,and prices.
A)content
B)functionally
C)aesthetically
D)text
E)picture
Q3) Explain what online companies are doing to address consumer worries about privacy and security when shopping online.
Q4) List the six reasons consumers shop and buy online.
Q5) Define spam and viral marketing.
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Chapter 22: Pulling It All Together: the Strategic Marketing Process
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Q1) What is the assumed shape of the graph of the sales response function?
A)U-shaped
B)S-shaped
C)a straight,downward-sloping line,starting in the upper left and extending to the lower right of the graph
D)a straight,upward-sloping line,starting in the lower left and extending to the upper right of the graph
E)W-shaped
Q2) What is the difference between line and staff positions in a marketing organization?
Q3) The five alternative marketing strategies that can be identified by market-product grids include which of the following?
A)diversification
B)selective distribution
C)product reorientation
D)full coverage
E)new-product introduction
Q4) Describe a time-based agenda,an action item list,and a program schedule.What are their similarities and differences?
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Chapter 23: Writing Successful Marketing and Business
Plans: Tips and Guidelines
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Q1) According to its marketing plan,Paradise Kitchens is positioning itself in consumers' minds as
A)a moderately priced "homestyle taste of the Southwest" chili.
B)a low-cost "Mexican/American meld of flavors" for easy-to-prepare frozen entrees.
C)traditional "Taste of Mexico" that uses all organic ingredients in semi-prepared meals.
D)very high-quality "gourmet Southwestern/Mexican" frozen entrees and desserts.
E)very high-quality "authentic Southwestern/Mexican tasting" chilies that can be prepared easily and quickly.
Q2) A(n)________ helps communicate the company's unique points of difference of its products to prospective customers in a simple,clear way.
A)positioning strategy
B)market-product grid strategy
C)competition analysis
D)implementation strategy
E)situational analysis
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Chapter 24: Financial Statements and Ratios
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Q1) The ________ summarizes the profitability of a business firm for a specific time period,usually a month,quarter,or year.
A)balance sheet
B)annual report
C)income statement
D)assets-liabilities statement
E)data mine
Q2) All of the following are cost elements of an operating statement except which?
A)cost of goods sold
B)inventory
C)returns and allowances
D)direct labor
E)gross margin
Q3) The three major categories of expenses are
A)direct,semi-direct,and indirect.
B)variable,fixed,and semi-variable.
C)external,internal,and societal.
D)manufacturing,promotion,and distribution.
E)selling,administrative,and general.
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