Marketing Concepts
Exam Questions
Course Introduction
Marketing Concepts introduces students to the foundational principles and strategies of marketing within modern organizations. The course explores key topics such as market segmentation, targeting, positioning, and the development of effective marketing mixes (product, price, place, and promotion). Students will examine consumer behavior, the impact of digital marketing, branding strategies, and the ethical considerations facing marketers today. Through real-world case studies and practical projects, students gain a comprehensive understanding of how marketing contributes to organizational success and the creation of value for both businesses and consumers.
Recommended Textbook
Marketing 2016 18th Edition by William M. Pride O. C. Ferrell
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20 Chapters
4072 Verified Questions
4072 Flashcards
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Page 2
Chapter 1: An Overview of Strategic Marketing
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171 Verified Questions
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Sample Questions
Q1) Describe the three different types of products.
Answer: A product can be a good, a service, or an idea. A good is a physical entity you can touch. A branded pair of spectacles or a branded pair of jeans is an example of a good. A service is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers. Air travel, education, and child day care are examples of services. Ideas include concepts, philosophies, images, and issues. For instance, a marriage counselor, for a fee, gives spouses ideas to help improve their relationship.
Q2) The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the overall goals of the organization. A)True
B)False
Answer: True
Q3) Marketing costs consume about one-quarter of a buyer's dollar.
A)True
B)False
Answer: False
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3
Chapter 2: Planning, Implementing, and Evaluating Marketing Strategies
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141 Flashcards
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Sample Questions
Q1) A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.
A)True
B)False
Answer: False
Q2) Marketing planning establishes an organizational mission and goals, corporate strategy, marketing objectives, and a marketing strategy.
A)True
B)False
Answer: False
Q3) A firm's unique symbols, personalities, and philosophies comprise its A)corporate persona.
B)corporate identity.
C)corporate character.
D)CEO's identity.
E)ethics.
Answer: B
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Page 4
Chapter 3: The Marketing Environment
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Sample Questions
Q1) If Julio Ruiz has an income of $30,000, pays $6,000 in rent, $1,200 in utilities, and $5,000 in taxes per year, his disposable income is
A)$7,800.
B)$14,000.
C)$9,000.
D)$25,000.
E)$20,000.
Answer: D
Q2) The type of competitive structure that exists in the case where there are almost no substitutes for a product is a(n)
A)monopolistic competition.
B)oligopoly.
C)pure competition.
D)monopoly.
E)noncompetition.
Answer: D
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Chapter 4: Social Responsibility and Ethics in Marketing
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Sample Questions
Q1) The way to deal with ethical issues is proactively
A)right before the problem is made public
B)after the problem has received extensive media attention
C)immediately after the problem is discovered
D)when lawsuits are brought against the company
E)during the strategic planning process
Q2) According to the text, marketing ethics refers to principles and standards that define
A)improper behavior in marketing.
B)acceptable conduct in society.
C)improper behavior in business.
D)acceptable conduct in marketing.
E)acceptable conduct in general.
Q3) ____ are formalized rules and standards that describe what a company expects of its employees in terms of ethical behavior.
A)Job descriptions
B)Ethics clauses
C)Behavior contracts
D)Codes of conduct
E)Ethics contracts
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Page 6
Chapter 5: Marketing Research and Information Systems
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189 Flashcards
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Sample Questions
Q1) Marketing researchers should allow for continual evaluation of the data during the entire data collection period.
A)True
B)False
Q2) One common mistake in questionnaire construction is developing the questionnaire before objectives have been established.
A)True
B)False
Q3) Secondary data cannot be obtained from
A)trade journals.
B)the government.
C)international sources.
D)surveys.
E)computerized literature retrieval databases.
Q4) Why is it essential that a questionnaire be carefully designed and prepared? What problems can arise when a survey has not been well thought out?
Q5) Compare and contrast the response rates of the four basic survey methods. Are there methods to increase any of these response rates?
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Chapter 6: Target Markets Segmentation and Evaluation
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Sample Questions
Q1) Your firm's finance department has just issued new guidelines for how market segments are to be evaluated based on sales expectations. In general, the new guidelines require the marketers to measure company sales potential based on a general economic forecast for a time period. Which one of the following types of market segment evaluation approaches is the finance department advocating?
A)Breakdown approach
B)Economic analysis approach
C)Buildup approach
D)Market potential approach
E)Gross margin approach
Q2) Refer to Scenario 6.2. GE Transportation is most likely using a(an) ______ targeting strategy, segmenting by ________ variables.
A)Undifferentiated; benefit expectations
B)Differentiated; benefit expectations
C)Differentiated; volume usage
D)Concentrated; volume usage
E)Concentrated; geographic location
Q3) What are the major steps of the target market selection process?
Q4) How do business markets differ from consumer markets?
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Chapter 7: Consumer Buying Behavior
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225 Flashcards
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Sample Questions
Q1) In shopping for a new laptop computer for her master's degree program, Jocelyn has narrowed the alternatives to four brands. She is considering Dell, Toshiba, Sony, and Hewlett-Packard. These four brands make up Jocelyn's
A)awareness set.
B)consideration set.
C)framing set.
D)external search.
E)inert set.
Q2) The development of a person's self-concept is a function of A)learning.
B)psychological and social factors.
C)reference groups and opinion leaders.
D)roles and family influences.
E)subcultures.
Q3) An attitude consists of one's evaluation feelings and behavioral tendencies toward an object or idea.
A)True
B)False
Q4) Identify and describe the five major categories of situational influences.
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Chapter 8: Business Markets and Buying Behavior
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Sample Questions
Q1) Raython Hardware and Thames Industrial Supplier have worked closely for many years and have a mutually beneficial relationship in which Raython provides all of Thames's hardware needs in a timely manner. Raython and Thames's relationship could be best characterized as a(n)
A)reciprocity agreement.
B)partnership.
C)intra-organizational group.
D)alliance.
E)tying arrangement.
Q2) It is customary for contracts for raw materials and components to be negotiated semiannually.
A)True
B)False
Q3) In industries in which price changes occur frequently, demand fluctuations have practically been eliminated since buyers have become used to these changes and have learned to ignore them.
A)True
B)False
Q4) In what ways do environmental factors affect the business buying decision process?
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Chapter 9: Reaching Global Markets
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Sample Questions
Q1) Cultural relativism is the unconscious reference to one's own cultural values, experiences, and knowledge when traveling in other countries.
A)True
B)False
Q2) Caterpillar, maker of large construction equipment in the U.S., would like to better understand factors that would affect its ability to export its products to various countries. Which of the following forces determine how trade barriers affect Caterpillar's marketing efforts?
A)Political and legal
B)Economic
C)Industrial and Technological
D)Technological and Legal
E)Economic and political
Q3) The gross domestic product is
A)a measure of the profit made by all firms in a nation.
B)the average annual earnings per person in a nation.
C)a measure of the types of products produced by a nation.
D)an overall measure of a nation's economic standing.
E)a ratio of domestic products to products produced in foreign countries.
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Chapter 10: Digital Marketing and Social Networking
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Sample Questions
Q1) One of the fastest-growing areas in mobile technology is the creation of applications.
A)True
B)False
Q2) ____ involves the use of digital networks to provide linkages between information providers and users.
A)Accessibility
B)Addressability
C)Interactivity
D)Connectivity
E)Control
Q3) ____ are web-based journals in which writers can editorialize and interact with other Internet users.
A)Bings
B)Googles
C)Blogs
D)Podcasts
E)Wikis
Q4) Explain the concept "push-pull" when referring to digital marketing as a new distribution channel.
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Chapter 11: Product Concepts, Branding and Packaging
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375 Verified Questions
375 Flashcards
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Sample Questions
Q1) Many products never get beyond the introduction stage.
A)True
B)False
Q2) A product mix is best described as
A)all products offered by a firm.
B)product, distribution, promotion, and price.
C)many products sold by one firm.
D)all products of a particular type.
E)a group of closely related products that are considered a unit because of market, technical, or end-use considerations.
Q3) Family branding occurs when all of a firm's products are branded with all or part of the same name.
A)True
B)False
Q4) The depth of a product mix is measured by the average number of product types in a product line.
A)True
B)False
Q5) In what ways can packaging be used strategically?
Q6) What are the major functions of a label?
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Chapter 12: Developing and Managing Products
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Sample Questions
Q1) Ideally, test marketing should follow which stage in the new-product development process?
A)Commercialization
B)Business analysis
C)Screening
D)Limited production
E)Product development
Q2) Concept testing presents a small sample of potential buyers with a trial version of the new product to determine their initial reactions.
A)True
B)False
Q3) Product managers can be responsible for a single product, a product line, or several products.
A)True
B)False
Q4) A venture team has the authority to execute plans for the development of products.
A)True
B)False
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Page 14
Chapter 13: Services Marketing
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Sample Questions
Q1) Marketing approaches used by organizations in the for-profit sector are equally applicable to individuals and organizations in the nonprofit sector.
A)True
B)False
Q2) What are the three primary ways that marketers deliver services?
A)Over the phone, online, or in-person
B)Continuously, periodically, or on demand
C)At the customer's home, in-person, or by telecommunications
D)Through service centers, delivery vehicles, or the mail
E)Service facilities, customer's home, or from a distance
Q3) Service quality is defined as the company's perception of how well a service meets or exceeds customer expectations.
A)True
B)False
Q4) How do the target markets of nonprofit organizations differ from the target markets of for-profit organizations?
Q5) Services are highly perishable and cannot be inventoried for future use.
A)True
B)False
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Chapter 14: Marketing Channels and Supply-Chain Management
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Sample Questions
Q1) Eliminating a wholesaler from a marketing channel will
A)cut costs and lower prices.
B)not eliminate the functions performed by that wholesaler.
C)eliminate the functions performed by that wholesaler.
D)lead to lower costs but higher prices.
E)reduce channel conflict.
Q2) Garcia Wholesale Plumbing has seen its sales in the Southeast triple in the past two years. Materials handling director Barb Peterson announces plans to the board for an Atlanta facility that will combine shipments received from Garcia's 25 suppliers for nearly immediate shipment to plumbing stores and contractors in the region. This new facility would be best classified as which of the following?
A)Sales office
B)Public warehouse
C)Field public warehouse
D)Distribution center
E)Bonded warehouse
Q3) Describe the three forms of vertical marketing systems.
Q4) Name and define the four types of utility created by marketing channels.
Q5) Compare and contrast horizontal and vertical channel integration.
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Chapter 15: Retailing, Direct Marketing and Wholesaling
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Sample Questions
Q1) Merchant wholesalers assume risks of ownership.
A)True
B)False
Q2) Retailers that sell only to members and feature discount retailing combined with cash-and-carry wholesaling are called
A)hypermarkets.
B)retail groups.
C)warehouse showrooms.
D)discount stores.
E)warehouse clubs.
Q3) Selling agents have control over the marketing efforts of manufacturers and may be used in place of a marketing department.
A)True
B)False
Q4) Appliances are an example of a major product line commonly carried by discount stores.
A)True
B)False
Q5) What is a store's image, and how does it affect retailing strategy decisions?
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Chapter 16: Integrated Marketing Communications
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Sample Questions
Q1) The Kia Soul automobile is currently positioned as a vehicle for young adults. Kia's message to the target market is that it is exciting, youthful, and trendy. However, Max and his friends who are 20-somethings, just like the music and the hamster spokes characters. They don't care about the car itself. The message that Kia originally encoded and the meaning Max and his friends ultimately decoded
A)probably contain circular feedback.
B)may be different because of noise.
C)are usually exactly the same.
D)rarely are similar because of feedback.
E)are collectively termed the communications channel.
Q2) Selective demand is demand for a
A)general type of product.
B)particular brand.
C)new product.
D)competitor's product.
E)service.
Q3) Promotion to encourage trial use attempts to retain loyal customers.
A)True
B)False
Q4) Discuss the major factors that affect the selection of promotion mix elements.
Page 18
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Chapter 17: Advertising and Public Relations
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Sample Questions
Q1) The University of Iowa runs a series of ads throughout the Midwest on how friendly and helpful its faculty, staff, and students are as well as how outstanding its academic programs are. This type of promotion would best be characterized as
A)public relations.
B)product advertising.
C)advocacy advertising.
D)institutional advertising.
E)comparative advertising.
Q2) When an organization uses an advertising agency, who usually develops the advertising campaign?
A)The agency's specialists
B)The firm and the agency working jointly
C)The agency suggests ideas and the firm chooses among them
D)The advertising department within an organization
E)An individual or a few persons within the firm
Q3) Compare the competition-matching approach with the arbitrary approach in determining an advertising appropriation. Which method might more easily lead to overspending or underspending on the appropriation?
Q4) What is public relations and for what purposes is it used?
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Chapter 18: Personal Selling and Sales Promotion
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Sample Questions
Q1) Which of the following statements is true about sales promotion?
A)Can increase sales by providing extra purchasing incentives.
B)It encompasses personal selling.
C)Sales promotion has increased dramatically, primarily at the expense of personal selling.
D)Product characteristics are not relevant when deciding on sales promotions.
E)It encompasses public relations.
Q2) The difference between consumer sales promotion methods and trade sales promotion methods is
A)with consumer sales promotion, marketers try to persuade retailers to carry their products.
B)with trade sales promotion, marketers focus on trading with consumers.
C)consumer and trade sales promotions aim at retailers, but only trade sales promotions aim at wholesalers.
D)consumer sales promotions focus on getting consumers to buy their products, whereas trade sales promotions focus on getting wholesalers and retailers to buy.
E)trade sales promotions attempt to persuade people to buy at particular stores, whereas consumer sales promotions focus on persuading people to buy particular products.
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Page 20
Chapter 19: Pricing Concepts
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Sample Questions
Q1) Which of the following statements is true about marginal analysis?
A)Fixed costs vary with changes in the number of units sold.
B)Total cost is the sum of average fixed costs and average variable costs times the quantity produced.
C)Average variable cost equals variable cost times number of units sold.
D)Average fixed cost increases as the number of units produced increases.
E)Marginal cost equals fixed costs minus variable costs.
Q2) Seasonal discounts provide price incentives to customers during peak selling seasons.
A)True
B)False
Q3) Price is the value that is exchanged for products in a marketing transaction.
A)True
B)False
Q4) Which of the following is not a method used to determine transfer prices?
A)Discounted standard cost
B)Actual full cost
C)Standard full cost
D)Cost plus investment
E)Market-based cost
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Chapter 20: Setting Prices
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Sample Questions
Q1) Which of the following statements about markup pricing is correct?
A)The use of similar markups reduces price competition.
B)Markup pricing is inconvenient to use.
C)Markup pricing results in a high price when demand is high and a low price when demand is low.
D)Markup pricing is a demand-based pricing method.
E)Using markups makes pricing a time-consuming, difficult process.
Q2) The Office Place is an office supplies company who has just adjusted its price levels so that it can increase its sales volume to match its expenses. The Office Place is most likely employing a(n) ____ objective.
A)market share
B)cash flow
C)return on investment
D)survival
E)profit
Q3) Identify and describe seven types of psychological pricing.
Q4) Demand-based pricing strategies are easy to use.
A)True
B)False
Q5) What is bundle pricing? Give three examples, each one from a different industry.
Page 22
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