Introduction to Marketing Midterm
Exam
Course Introduction
Introduction to Marketing provides students with a comprehensive overview of the fundamental principles and concepts of marketing. The course explores topics such as market research, consumer behavior, market segmentation, targeting, positioning, and the development of effective marketing strategies. Students will examine the core elements of the marketing mix product, price, place, and promotion and learn how organizations create value for customers and build lasting relationships in both domestic and global markets. Through case studies, real-world examples, and practical exercises, students will gain essential skills to analyze marketing environments and make informed marketing decisions.
Recommended Textbook
Preface to Marketing Management 13th Edition by J. Paul Peter
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14 Chapters
1150 Verified Questions
1150 Flashcards
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Chapter 1: Strategic Planning and the Marketing Management Process
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66 Verified Questions
66 Flashcards
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Sample Questions
Q1) It is important for the mission statement to be _____ because it provides a shared sense of purpose outside the various activities taking place within the organization.
A) motivational
B) product-oriented
C) internal
D) generic
Answer: A
Q2) Which of the following is true of organizational objectives?
A) An organizational objective should reflect on the organization's finances, rather than its commitment to the customers.
B) Organizational objectives are not considered to be dominant necessities to carry out the organizational mission.
C) Organizational objectives are specific, measurable, action commitments on the part of the organization.
D) An organizational objective is distilled to arrive at a specific and achievable organization mission.
Answer: C
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Chapter 2: Marketing Research: Process and Systems for Decision Making
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following is an advantage of personal interviews?
A) It facilitates a broad coverage in a feasible manner.
B) It has a low cost-per-contact for ever respondent studied.
C) It has more depth of response than telephone interviews.
D) It involves less time in data collection.
Answer: C
Q2) A drawback of using focus groups as a method of data collection is that:
A) it involves a long data gathering process.
B) it involves a very high cost per contact made in the study.
C) it suits only those studies that have a small sample size.
D) it represents a rigid technique that cannot be tailored to the needs of individual projects.
Answer: C
Q3) Which of the following is a benefit of using focus groups as a method of data collection?
A) It is free from bias from the moderator.
B) It can have a large sample size.
C) It is a relatively low cost technique.
D) It does not need expert moderators.
Answer: C
Page 4
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Chapter 3: Consumer Behavior
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) The intensity of postpurchase dissonance will be the greatest when:
A) the product is a specialty product with few alternative choices.
B) the product has low functional risk and low psychosocial risk.
C) the product is a convenience product with numerous mediocre alternatives.
D) the product has a number of available alternatives with many desired features.
Answer: D
Q2) It is important for marketers to devise communications that offer:
A) consistent messages about their products.
B) extremely detailed descriptions about product features.
C) covert messages for customers about their products.
D) messages that aim exclusively at the upper Americans.
Answer: A
Q3) A high degree of product involvement typically encourages _____ decision-making by consumers.
A) optional
B) limited
C) extensive
D) routine
Answer: C
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Page 5
Chapter 4: Business, Government, and Institutional Buying
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79 Flashcards
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Sample Questions
Q1) When does an organization use modified rebuy?
A) When some aspects of the buying situation are unfamiliar
B) When purchase involves a high priority product that is rarely bought
C) When the organization practices just-in-time inventory management
D) When purchasing policies, decisions, and procedures are constant
Q2) Why is it especially important for organizations that use just-in-time inventory to have reliable suppliers?
A)Reliable buyers are favored because the buyers do not have a reserve inventory to draw on in case of receiving late or poor-quality supplies.
B) Organizations that use just-in-time inventory can get discounted prices from reliable suppliers who want to make quick sale.
C) Since just-in-time inventory systems cannot be upgraded to modified rebuys, the need for a reliable supplier is essential.
D) Reliable suppliers offer better quality goods even though they are often late in delivering them.
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6
Chapter 5: Market Segmentation
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Sample Questions
Q1) What assumption is the Nielsen PRIZM system based on?
A) Consumer lifestyles remain constant throughout different geodemographic segments of consumers, making geodemographic segmentation less effective.
B) Consumers in particular neighborhoods are similar in many respects and the best prospects are those who actually use a product or other consumers like them.
C) Implementation and control of the marketing plan requires segmentation based on psychographic lines.
D) Achievement-oriented targets need to be made in order to increase sales of an organization.
Q2) Which of the following steps would a company undertake after it has determined the basic segments of the market that could potentially be satisfied with its product?
A) Developing the product positioning plan
B) Deciding the segmentation strategy
C) Designing the marketing mix strategy
D) Determining the product mix
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7
Chapter 6: Product and Brand Strategy
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Sample Questions
Q1) Pritchard's fine rum is the only rum that is actually distilled in the southeastern part of the United States.Cruzan and Myers,both made in the Caribbean,are its main competitors.Pritchard's fine rum has a more bourbon-like flavor than other brands of rum,which tend to taste more like cognac.In terms of the classification of consumer goods,the distiller of Pritchard's fine rum would want its rum to be categorized as a(n)_____.
A) specialty good
B) organizational good
C) shopping good
D) convenience good
Q2) When a corporate name is attached to a product to enter into an entirely new market segment,it would be an example of _____.
A) multibranding
B) franchise extensions
C) generic branding
D) line extensions
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8
Chapter 7: New Product Planning and Development
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Healthfood Inc.manufactures jelly,made out of gelatin (a colorless,edible protein)in various fruit flavors.However,the sale of its current line of flavored jelly has significantly fallen.The company discovers that women used powdered gelatin dissolved in acetylene (a liquid,organic compound)to strengthen their fingernails.It introduces a flavorless jelly as a nail-building agent in an attempt to boost profits.Identify the product category involved.
A) Additions to existing product lines
B) Improvements and revisions of existing products
C) Repositionings
D) New-to-the-firm products
Q2) John and his team are working to develop a new product.The company has given them a fixed budget and a rough estimate of the time left until the product must hit the market.The team's key concern is that the product they have developed would be too costly and time-consuming to produce.Which of the following best describes this risk that John and his team are most concerned with?
A) Strategic risk
B) Market risk
C) Internal risk
D) Credit risk
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Page 9
Chapter 8: Integrated Marketing Communications
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Public relations is best suited for which of the following steps of the buying process that potential buyers usually go through?
A) Awareness
B) Comprehension
C) Conviction
D) Ordering
Q2) Which of the following types of trade promotions is least likely to have the desired effect on the owner of a small shoe retailer?
A) Trade deals
B) Contests
C) Advertising allowance
D) Push money
Q3) _____ is becoming an important goal of marketing communications because modern technology makes information gathering more practical.
A) Building positive images
B) Retaining customers
C) Building channel relationships
D) Identifying prospects
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Chapter 9: Personal Selling, Relationship Building, and Sales Management
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Which of the following is NOT true of sales expense budgets?
A) In some companies, sales expense budgets are developed from the bottom up.
B) Sales expense budgets should be included in the sales forecast.
C) These estimates are usually prepared for a period of a year and then broken down into quarters and months.
D) The sales force composite method is a popular method for calculating sales expense budgets.
Q2) Since it can cost five times as much to acquire a new customer than to service an existing one,it is important for salespersons to:
A) focus on maximizing profits.
B) generate as many leads as possible through cold calling.
C) implement the endless chain approach.
D) build and maintain long-term relationships.
Q3) Which of the following refers to monetary compensation provided for each unit of sales and expressed as a percentage of sales?
A) Bonus
B) Commission
C) Salary
D) Golden handcuff
Page 11
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Chapter 10: Distribution Strategy
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85 Flashcards
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Sample Questions
Q1) In which of the following stores would you expect to find a narrow but very deep assortment?
A) A hypermarket like Carrefour in France.
B) A category killer like Office Depot.
C) A mass merchandiser like Target.
D) A convenience store like 7-Eleven.
Q2) A contractual vertical marketing system is exemplified by:
A) a florist shop that buys from a wholesale plant nursery.
B) a coffee producer who owns a chain of coffee shops.
C) the relationship of Walmart with its suppliers.
D) the Subway sandwich shop franchise system.
Q3) Designer Mossimo Giannulli sells his collection of denim-based sportswear for men and women at specialty stores and select departmental stores nationwide.It would be possible to find at least three stores in a mall carrying the designer's clothing.Which of the following methods of distribution does the designer use?
A) Selective
B) Restrictive
C) Exclusive
D) Extensive
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Page 12
Chapter 11: Pricing Strategy
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Sample Questions
Q1) A new device "Sniffer",used for testing alcohol levels in drunken driving suspects,is priced out of the reach of most law enforcement units.Those units that have bought the Sniffer are extremely pleased with its results and the fact that these results are readily accepted in court.There is nothing on the market today that has the accuracy and the portability of the Sniffer.The manufacturer of the Sniffer is likely to be using a(n)_____ pricing policy.
A) penetration
B) odd-even
C) skimming
D) going-rate
Q2) For which of the following products is the producer most likely to use cost-plus pricing?
A) A landscaping project of a five-acre public park
B) A kite bought at a souvenir shop
C) A first edition novel that is valued at $125
D) A state-of-the-art home entertainment system
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Chapter 12: The Marketing of Services
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Sample Questions
Q1) OUB Telecommunications Ltd.has been functioning for a number of years with the same kind of tariffs and offers.The firm still implements off-peak pricing and works according to the traditional management system.It has not introduced any innovative tariff plans.This implies that the organization has:
A) a limited view of marketing.
B) no obsolescence.
C) a lack of creativity.
D) a lack of strong competition.
Q2) Which of the following is an example of internal marketing conducted by a chain of dog kennels that boards and grooms pets?
A) A public relations article in a local paper describing the training received by the kennel's employees.
B) An e-mail to one of the employees praising him for finding and returning a customer's dog collar.
C) A newspaper ad showing a picture of happy dogs staying at the kennel.
D) A tour of the facilities available at the kennel for elementary school children.
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Chapter 13: Global Marketing
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following would help a firm to assess the buying ability of consumers in a foreign market?
A) Cultural values
B) Cultural attitude
C) Educational qualifications
D) Extent of available financing
Q2) Tingle Inc.is a food processing firm based in Switzerland.The firm offers processed mayonnaise,cheese,cheese slices,jams,and white sauce.The products are manufactured in Switzerland and transported to supermarkets and dealers in England,Norway,and Sweden.Which of the following approaches is being used by Tingle Inc.?
A) Exporting
B) Licensing
C) Franchising
D) Importing
Q3) Which of the following is a defensive goal?
A) To increase long-term growth and profit prospects
B) To maximize total sales revenue
C) To take advantage of economies of scale
D) To preempt competitors' global moves
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Page 15
Chapter 14: Portfolio Models
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Sample Questions
Q1) The cellphone market is experiencing rapid growth,but the cellphones made by Broadwing Inc.,have such a low market share that Broadwing is looking to sell its cell phone division.According to the BCG Portfolio Model,the Broadwing cellphone division would be an example of a _____.
A) dog
B) cash cow
C) question mark
D) star
Q2) The BCG matrix identifies _____ as SBUs that have a low share of a low-growth market.
A) cash cows
B) question marks
C) stars
D) dogs
Q3) According to the BCG matrix,_____ are often market leaders,but the market they are in is not growing rapidly.
A) cash cows
B) question marks
C) stars
D) dogs
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