Marketing Concepts
Chapter Exam Questions
Course Introduction
Marketing Concepts introduces students to the fundamental principles and practices underlying the field of marketing. The course explores essential topics such as the marketing mix (product, price, place, promotion), consumer behavior, market segmentation, branding, and the strategic planning process. Students will gain insight into how organizations identify and satisfy customer needs, create value, and achieve competitive advantage in both domestic and international markets. Emphasis is also placed on the role of technology, ethics, and contemporary trends impacting marketing strategies, equipping students with a foundational understanding applicable to various business contexts.
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MKTG 10th Edition by Charles W. Lamb
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Page 2
Chapter 1: An Overview of Marketing
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Q1) Livin' Styles is a home décor company well-known for its varieties of designs.The management of Livin' Styles collaborates with its customers and co-creates designs.This is an example of _____.
A)following sales orientation
B)focusing on environmental value
C)delegating authority
D)creating customer value
Answer: D
Q2) A local grocer groups his customers into specific groups based on what they buy and when they shop.The grocer then schedules shipments of specific items based on these customer segments and offers different promotions to different customer groups.This is an example of customer relationship management.
A)True
B)False
Answer: True
Q3) Marketing career opportunities do not exist in nonbusiness organizations.
A)True
B)False
Answer: False
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Chapter 2: Strategic Planning for Competitive Advantage
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Q1) When a company defines its mission statement based on its short-term objectives,it is said to be suffering from _____.
A)marketing myopia
B)marketing inertia
C)marketing dissonance
D)marketing blockage
Answer: A
Q2) Which of the following statements is true of strategic planning?
A) will have its own return on investment
B) will share the same goals and use the same strategies as Fourlotts Inc
C) will plan collaboratively with Fourlotts Inc.'s other SBUs
D) will refrain from performing manufacturing functions
Answer: A
Q3) Market segments cannot be differentiated by ethnicity and multicultural aspects.
A)True
B)False
Answer: False
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Chapter 3: Ethics and Social Responsibility
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Q1) Which of the following statements is true about the pyramid model of corporate social responsibility?
A)It states that philanthropy should be the most important function of a corporation.
B)It states that ethical responsibilities of a corporation provide the basis for other responsibilities.
C)It states that if a company does not make a profit, then the other responsibilities are moot.
D)It states that social responsibility efforts should be focused on the external and not the internal stakeholders of a corporation.
Answer: C
Q2) According to the three levels of ethical development,which of the following statements is true of conventional morality?
A)It is the most basic level of ethical development
B)A person at this level performs unethical and manipulative actions.
C)It is predominantly characterized by an egocentric viewpoint of an individual.
D)A person at this level is concerned how an action will be viewed by others
Answer: D
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5
Chapter 4: The Marketing Environment
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Q1) Which of the following statements is true of the values held by tweens?
A)They are concerned about crime, climate change, and their health.
B)They prefer and value traditional media over social media.
C)They are influenced by traditional advertising, sales reps, and word-of-mouth recommendations.
D)They forgo games and are moving toward entrepreneurship.
Q2) A target market is a group of people or organizations for which an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group,resulting in mutually satisfying exchanges.
A)True
B)False
Q3) Unlike the youngest Gen Yers,the oldest members of Generation Y:
A)are entering adulthood.
B)were least affected by the Great Recession.
C)turned 50 years old in 2016.
D)had difficulty finding good jobs during the Great Recession.
Q4) Age is the primary determinant of the person's earning potential.
A)True
B)False
Q5) Discuss competitive factors that affect a firm.
Page 6
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Chapter 5: Developing a Global Vision
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Q1) Since Facebook,YouTube,and other social media are popular around the world,firms both large and small have embraced social media marketing.
A)True
B)False
Q2) A difference between inshoring and outsourcing is that inshoring:
A)provides higher corporate growth than outsourcing.
B)provides higher revenue growth than outsourcing.
C)reduces the productivity of a firm.
D)involves long-distance shipping and, hence, high transportation costs.
Q3) _____ is the sale of an exported product at a price lower than that charged for the same or a like product in the "home" market of the exporter.
A)Exporting
B)Dumping
C)Boycotting
D)Contract manufacturing
Q4) Explain franchising.
Q5) In the context of distribution,ocean shipping is faster than airfreight.
A)True
B)False
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Chapter 6: Consumer Decision Making
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Q1) Which of the following strategies is a marketing manager most likely to follow to increase the sales of a high-involvement product?
A)Creating advertisements that give consumers all the necessary information to make the purchase decision
B)Focusing on the package design of the product so that it will be eye-catching and easily recognized on the store shelf
C)Linking the product to a lower-involvement issue to create publicity
D)Offering coupons, cents-off deals, and two-for-one offers on the product
Q2) Explain how cultural influences affect consumer decision making.
Q3) Which of the following is a psychological factor that impacts consumer buying decisions?
A)Social class
B)Learning
C)Age
D)Lifestyle
Q4) Consumers' product preferences for themselves remain stagnant in all stages of the family life cycle.
A)True
B)False
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Chapter 7: Business Marketing
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Q1) Line Twists Inc.is a start-up dance company.On its Web site,it conducts an online competition for amateur dancers.It asks people to post one sentence on why they love to dance.Thousands of people participate and comment on the Web site.In the context of business-to-business social media marketing,this step taken by Line Twists Inc.is an example of the marketing metric of _____.
A)product adaptation
B)engagement
C)conversion
D)review
Q2) Explain the distribution structure followed in business markets.
Q3) Fresnas Inc.,an oil refinery,buys crude oil and converts it into various products such as gasoline,kerosene,and diesel fuel.Fresnas Inc.,then,sells these products to other companies or retailers.Based on this information,which segment of the business market is most likely represented by Fresnas Inc.?
A)Resellers
B)Producers
C)Distributors
D)Governments
Q4) Discuss the importance of customer service in business marketing.
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Chapter 8: Segmenting and Targeting Markets
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Q1) Volten Inc.is an apparel store.It has separate sections for casual wear,office wear,and party wear.It also has goods of different price ranges to suit people of various income levels.In this way,it caters to different sections of the society.,Volten Inc.is demonstrating positioning by _____.
A)product class
B)product user
C)competitor
D)product user
Q2) A concentrated targeting strategy differs from an undifferentiated targeting strategy in that a concentrated targeting strategy:
A)results in cannibalization of products
B)involves selecting a market niche for targeting its marketing efforts
C)views the market as one big market with no individual segments
D)uses a common marketing mix for the entire market
Q3) Promotion is one of the components that form a marketing mix.
A)True
B)False
Q4) How do marketers use customer relationship management (CRM)as a targeting tool?
Q5) Explain the steps followed in segmenting a market
Page 10
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Chapter 9: Marketing Research
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Q1) The final step in the customer relationship management cycle is to identify a firm's profitable and unprofitable customers.
A)True
B)False
Q2) Which of the following statements is true of one-way frequency counts?
A)They simply record the responses to a question.
B)They are used to compare responses to one or more questions.
C)They include hypothesis testing and regression analysis.
D)They are rarely done in data analysis.
Q3) Mobile research provides immediate feedback about a consumer's purchase decision to the researcher.
A)True
B)False
Q4) Unlike the marketing research problem,the management decision problem
A)must be broadly defined if the research effort is to be successful
B)provides insightful decision-making information
C)focuses on problems that are much broader in scope
D)tends to be more information oriented than action oriented
Q5) Differentiate between the different types of questions that are used in questionnaires.
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Chapter 10: Product Concepts
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Q1) The key distinction between the consumer products and business products is their intended use.
A)True
B)False
Q2) A difference between informational labeling and persuasive labeling is that informational labeling:
A)focuses on a promotional theme or logo rather than 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.
Q3) Identify a true statement about global branding strategies.
A)A one-brand-name strategy is useful when a company markets mainly one product.
B)Using different brand names in different markets leads to greater identification of the product from market to market.
C)A one-brand-name strategy reduces the ease of coordinating promotion from market to market.
D)Using different brand names in different markets means that a company does not follow localization.
Q4) Discuss the concept of planned obsolescence.
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Chapter 11: Developing and Managing Products
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Q1) Daily Farm,a food and beverage manufacturing firm,is known for its unique variety of table sauces.To provide more variations to its customers,Daily Farm recently launched an olive and pepper sauce.The olive and pepper sauce would fall under the category of improved products.
A)True
B)False
Q2) In the context of adopters who participate in the diffusion process,a difference between early adopters and the early majority is that the early majority are:
A)more likely to be opinion leaders.
B)less likely to extend the adoption process.
C)self-confident, and they rely less on group norms.
D)likely to collect more information and evaluate more brands.
Q3) Which of the following statements is true of a customer innovation center?
A)It is an approach to reposition a company's products.
B)It promotes status-conscious advertising among customers.
C)It is a forum for meeting with customers and directly involving them in the innovation process.
D)It is used in the business analysis stage of the new-product development process.
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Chapter 12: Services and Nonprofit Organization Marketing
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Q1) Social level relationship marketing is more effective than financial level of relationship marketing.
A)True
B)False
Q2) Which of the following strategies will help service organizations overcome perishability of services?
A)Increasing the credence qualities of services
B)Providing training for employees
C)Improving standardization of services
D)Finding ways to synchronize supply and demand
Q3) What are the three product-related distinctions between profit and nonprofit organizations?
Q4) Patronage-oriented pricing tries to maximize the number of customers using a service.
A)True B)False
Q5) Patronage-oriented pricing seeks to match supply and demand by varying prices. A)True B)False
Page 14
Q6) 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) A company's supply chain includes all of the companies involved in the upstream and downstream flow of products,services,finances,and information,extending from initial suppliers to the ultimate customer.
A)True
B)False
Q2) Which of the following statements is true of the supplier relationship management process?
A)It enables firms to act as leaders in protecting the natural environment.
B)It enables suppliers and business units to operate with limited or no interaction.
C)It provides structural support for developing and maintaining relationships with suppliers.
D)It introduces features and cost-cutting measures into final products.
Q3) Intensive distribution is a form of distribution that establishes one or a few dealers within a given area.
A)True
B)False
Q4) What is supply chain orientation? Describe the five characteristics of supply chain oriented firms.
15
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Chapter 14: Retailing
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Q1) _____ is a selling technique that seeks to broaden customers' original purchases with related items.
A)Suggestion selling
B)Co-marketing
C)Shopper marketing
D)Benefit selling
Q2) Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.
Q3) Which of the following is a similarity between factory outlets and off-price retailers?
A)Both use low prices and discounts to lure shoppers.
B)Both offer high levels of customized service to customers.
C)Both follow an agile approach to inventory.
D)Both carry multiple product lines that are considerably deep.
Q4) What is brand cannibalization? Why is it dangerous to the retailer?
Q5) Target markets in retailing are defined by demographics,geographic boundaries,and psychographics.
A)True
B)False
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Chapter 15: Marketing Communications
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Q1) A _____ requires a manufacturer to focus its promotional efforts on end consumers.
A)push strategy
B)print marketing strategy
C)pull strategy
D)service strategy
Q2) Describe informative promotion with examples.
Q3) The objective of public relations is:
A)to create the promotional mix for an organization.
B)to educate the public about a company's goals and objectives.
C)to receive direct feedback from customers.
D)to facilitate consumer empowerment.
Q4) Owned media is often used as another term for content marketing.
A)True
B)False
Q5) Which of the following statements is true of sales promotions?
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.
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Chapter 16: Advertising, Public Relations and Sales Promotion
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Q1) Which of the following is an advantage of using cost per contact to determine the media mix for a product?
A)It allows advertisers to increase an ad's effectiveness by reaching potential customers.
B)It enables an advertiser to compare the relative expenses of specific media vehicles.
C)It requires advertisers to pay only for the customers who view their ad.
D)It allows marketers to minimize the cost of advertising by reaching a large number of people.
Q2) _____ is a form of advertising designed to influence demand for a specific brand.
A)Institutional advertising
B)Advocacy advertising
C)Competitive advertising
D)Pioneering advertising
Q3) Identify a true statement about an advertising campaign.
A)It contains a wide variety of themes and slogans.
B)It extends for a defined period of time.
C)It cannot focus on more than one advertising appeal.
D)It follows the Boston Consulting Group's matrix.
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Chapter 17: Personal Selling and Sales Management
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Q1) Define automated e-mail follow-up marketing.How does it work?
Q2) In the selling process,which of the following is true of the needs assessment of prospective clients by salespeople?
A)It should be carried out once a client has been qualified as a lead.
B)It requires the salesperson to know regulation and legislation that affect the industry.
C)It ignores the impact of competition on the demand of the product being sold.
D)It does not give a comprehensive result for instances where relationship selling is used.
Q3) Salespeople selling in foreign markets should tailor their presentations and closing styles to each market.
A)True
B)False
Q4) Thefinalstageofsalesmanagementiscompensating and motivating the sales force. A)True
B)False
Q5) Personal selling is especially needed for complex or new goods and services.
A)True
B)False
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Chapter 18: Social Media and Marketing
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Q1) Short message service (SMS)is different from multimedia messaging service (MMS)in that:
A)SMS allows 960-character text messages, while MMS allows 160-character text messages.
B)SMS is designed specifically for viewing pictures and navigation on mobile devices, while MMS does not have such features.
C)SMS does not allow the attachment of images, videos, and ringtones to text messages, while MMS does.
D)SMS does not require Internet, while MMS requires Internet for functioning.
Q2) According to Charlene Li and Josh Bernoff of Forrester Research,inactives are people who read blogs,listen to podcasts,watch videos,and generally consume media.
A)True
B)False
Q3) Which of the following statements is true of advertising in social media?
A)Social media are an unpaid form of marketing.
B)The effectiveness of social media can be easily measured.
C)Social media mostly focus on deepening relationships with customers.
D)Marketers believe that social media are not a worthwhile investment.
Q4) Explain the role of social media in marketing.
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Chapter 19: Pricing Concepts
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Q1) Extranets enable buyers to quickly and easily compare products and prices,putting them in a better bargaining position.
A)True
B)False
Q2) Which of the following is a limitation of break-even analysis?
A)It does not give an estimate of how much profit can be earned once the break-even point is obtained.
B)It does not give weightage to the cost of labor that is incurred during production.
C)It is applicable only when the demand for a product is elastic.
D)It is hard to determine which costs are fixed and which costs are variable.
Q3) _____ is a pricing policy whereby a firm charges a relatively low price for a product when it is first rolled out as a way to reach the mass market.
A)Penetration pricing
B)Price skimming
C)Price discrimination
D)Status quo pricing
Q4) Define consumer penalty and give reasons for imposing consumer penalties.
Q5) Compare price skimming and penetration pricing.
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