Marketing Concepts
Midterm Exam
Course Introduction
Marketing Concepts provides a comprehensive introduction to the fundamental principles and practices that underpin the field of marketing. The course explores key topics such as market segmentation, targeting, and positioning, as well as the development of effective marketing mixes involving product, price, place, and promotion strategies. Students will gain insight into consumer behavior, the role of market research, and the impact of external factors on marketing decisions. Through case studies and real-world examples, participants will develop an understanding of how organizations create value for customers and achieve sustainable competitive advantage in dynamic market environments.
Recommended Textbook
Marketing 17th International Edition by Hult and Ferrell
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21 Chapters
3942 Verified Questions
3942 Flashcards
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Page 2
Chapter 1: An Overview of Strategic Marketing
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) The marketing concept is best defined as
A)a second definition of marketing.
B)a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
C)the performance of business activities that direct the flow of goods and services from producer to customer or user.
D)a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
E)the inclusion of marketing activities in the activities of an organization.
Answer: B
Q2) Marketing efforts do not involve the design and development of products.
A)True
B)False
Answer: False
Q3) What is meant by the term relationship marketing? How does relationship marketing affect the customer?
Answer: Answer not provided.
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Chapter 2: Planning Implementing and Evaluating Marketing Strategies
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153 Flashcards
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Sample Questions
Q1) In a traditional organization, marketing decisions are generally centralized at the top levels of the organization.
A)True
B)False
Answer: True
Q2) The reputation and well-known brand name of Rolex watches represents a ____ for Rolex.
A)competitive advantage
B)core competency
C)market opportunity
D)strategic window
E)pricing strategy
Answer: B
Q3) Firms that truly adopt the marketing concept develop a distinct organizational culture based on a shared set of beliefs that makes customers' needs the pivotal point of the firm's decisions about strategy and operations.
A)True
B)False
Answer: True
Page 4
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Chapter 3: The Marketing Environment
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189 Flashcards
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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) Refer to Scenario 3.1. Suppose that a customer has a complaint against Meyers Sporting Goods Stores. He files a complaint with the Better Business Bureau. What action could the BBB take against Meyers if the complaint was substantiated and Meyers did not change the offending practice?
A)Issue a cease-and-desist order.
B)Seek a $10,000 monetary penalty.
C)Issue a warning to consumers through the local newspaper.
D)Order Meyers to make restitution.
E)Seek a $5,000 monetary penalty.
Answer: C
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Chapter 4: Social Responsibility and Ethics in Marketing
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Sample Questions
Q1) After news reports that pharmaceutical giant Merck was aware that its arthritis-fighting drug Vioxx may cause heart problems, the firm's stock plummeted and hundreds of lawsuits were filed against the company. This demonstrates what can occur if firms ignore
A)marketing citizenship.
B)sociocultural forces.
C)environmental causes.
D)social responsibility.
E)laws regulating car design.
Q2) Companies that incorporate ethics and social responsibility into their strategic plans are likely to experience
A)improved marketing performance.
B)increased lawsuits.
C)negative publicity.
D)reduced costs.
E)disappointed shareholders.
Q3) Codes of conduct (ethics) must be detailed enough to take every situation into account.
A)True
B)False
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Chapter 5: Marketing Research and Information Systems
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190 Flashcards
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Sample Questions
Q1) How is it possible to increase the response rate of a mail survey?
Q2) Refer to Scenario 5.1. Suppose that when selecting the 5,000 homes to participate in scanner studies in one city, the research firm first divided the city's population into upper-, middle-, and lower-class families, then took a probability sample within each group. This would be a(n) ____ sample.
A)random
B)stratified
C)area
D)quota
E)population
Q3) Which sampling design gives every member of the population an equal chance of appearing in the sample?
A)Nonprobability
B)Random
C)Quota
D)Stratified
E)Poll
Q4) Discuss the role of the marketing information system in helping marketing managers make better decisions.
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Chapter 6: Target Markets: Segmentation and Evaluation
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204 Verified Questions
204 Flashcards
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Sample Questions
Q1) Which of the following is not a characteristic of a consumer market?
A)it consists of purchasers who intend to consume or benefit from the purchased products
B)they do not buy products for the main purpose of making a profit
C)they are sometimes referred to as B2C markets
D)their purchasing decisions are always made by only one individual E)they may buy the product, but not use it themselves
Q2) A differentiated targeting strategy is when the organization targets two or more markets by developing a single marketing mix.
A)True
B)False
Q3) Family life cycle is most typically based on
A)income.
B)geographic location.
C)marital status and age of children.
D)occupation.
E)buying power.
Q4) How do business markets differ from consumer markets?
Q5) Why is it important for marketers to assess competitors before entering a market segment?
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Chapter 7: Consumer Buying Behavior
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219 Verified Questions
219 Flashcards
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Sample Questions
Q1) What is Maslow's hierarchy of needs? How does it apply to the consumer buying decision process?
Q2) Discuss how reference groups and opinion leaders influence purchase behavior.
Q3) Beth Hines is buying furniture for her apartment for the first time. She is spending considerable time and effort comparing the products that different stores offer. Which type of problem-solving process is she using?
A)Selective
B)Intensive
C)Extended
D)Shopping
E)Routinized
Q4) Problem recognition occurs when a consumer
A)searches for information to resolve a problem.
B)becomes aware that there is a difference between a desired state and an actual condition.
C)recognizes a need.
D)evaluates her or his purchase.
E)is exposed to a television advertisement.
Q5) 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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175 Flashcards
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Sample Questions
Q1) Pi Delta Mu sorority purchases food in bulk to feed its members living in the house. This means it is part of a(n) ____ market.
A)producer
B)consumer
C)reseller
D)institutional
E)government
Q2) The increase in government purchases has resulted partly from the increase in the number of services provided by the government.
A)True
B)False
Q3) Business purchasing agents may indirectly contribute to the satisfaction of their own personal needs by helping their firms achieve organizational objectives.
A)True
B)False
Q4) The demand for many business products is inelastic at the industry level.
A)True
B)False
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Page 10
Chapter 9: Reaching Global Markets
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168 Verified Questions
168 Flashcards
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Sample Questions
Q1) Which of the following alliances/agreements is the United States not a part of?
A)NAFTA
B)APEC
C)GATT
D)WTO
E)MERCOSUR
Q2) U.S. marketers may engage in bribery to compete with foreign firms.
A)True
B)False
Q3) The joint venture approach has little appeal to industries involved in extraction of natural resources.
A)True
B)False
Q4) The trade alliance that includes Brazil, Argentina, Chile, and other countries is known as
A)OPEC.
B)APEC.
C)MERCOSUR.
D)NAFTA.
E)the Common Market.
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Chapter 10: Digital Marketing and Social Networking
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181 Verified Questions
181 Flashcards
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Sample Questions
Q1) ____ are online users who do not participate in any digital online media.
A)Collectors
B)Spectators
C)Inactives
D)Creators
E)Critics
Q2) Julie likes to read the blog connected to the fashion editors at Vogue Magazine. While Julie likes to read the blog, she does not actually create any content herself. Julie would be called a(n)____ with regard to the Vogue blog.
A)Collector
B)Spectator
C)Inactive
D)Creator
E)Critic
Q3) Addressability allows customers to respond to a company's marketing communications by expressing their reactions and desires directly to the company.
A)True
B)False
Q4) Describe the six segments included in the Social Technographics Profile.
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Chapter 11: Product Concepts
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187 Flashcards
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Sample Questions
Q1) As Jessica enters Audio Jetz car electronics department, she is asked by the salesperson if she has seen the new plug-in cell phones with coffee-warming app. She answers that she didn't know that this type of app for cars was available. Based on this information, she is now in what stage of the product adoption process for this item?
A)Awareness
B)Interest
C)Evaluation
D)Trial
E)Adoption
Q2) "Business Services" is not a category or type of business product.
A)True
B)False
Q3) The buyer's intent can determine whether an item is classified as a consumer or a business product.
A)True
B)False
Q4) Profits decline in the maturity stage, largely because of increased competition.
A)True
B)False
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Chapter 12: Developing and Managing Products
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166 Flashcards
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Sample Questions
Q1) Systematic reviews of a company's product mix aid in determining when product deletion is necessary.
A)True
B)False
Q2) A brand manager is a type of product manager.
A)True
B)False
Q3) The majority of new-product projects initiated by major companies reach the commercialization stage.
A)True
B)False
Q4) The sum of all the product's physical characteristics is called product quality. A)True B)False
Q5) Automobile makers rely heavily on aesthetic modifications. A)True
B)False
Q6) Concept testing gives reliable feedback, but at a relatively high cost. A)True
B)False
Page 14
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Chapter 13: Services Marketing
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202 Verified Questions
202 Flashcards
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Sample
Questions
Q1) The willingness and readiness of employees to meet the needs of the customer while providing the service is an important dimension of service quality called A)reliability.
B)responsiveness.
C)empathy.
D)tangibles.
E)assurance.
Q2) The concept of opportunity cost is important in determining the price paid by an individual for a nonprofit product.
A)True
B)False
Q3) Government has no control over service prices charged.
A)True
B)False
Q4) An advantage of heterogeneity is that services can be customized.
A)True
B)False
Q5) Explain the role of promises and trust in the successful marketing of a service.
Q6) What dimensions do customers use to evaluate service quality?
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Chapter 14: Branding and Packaging
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216 Flashcards
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Sample Questions
Q1) Compared to an unfamiliar brand, a familiar brand is more likely to be selected by a customer because it often is viewed as reliable and of acceptable quality.
A)True
B)False
Q2) In what ways can packaging be used strategically?
Q3) The brand name Hamburger Helper would most likely be considered A)arbitrary.
B)generic.
C)suggestive.
D)descriptive.
E)fanciful.
Q4) A Sony laptop that has an "Intel" logo on its keyboard is an example of A)brand extension.
B)brand licensing.
C)co-branding.
D)individual branding.
E)line family branding.
Q5) Package characteristics shape buyer impressions of a product during use. A)True
B)False
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Chapter 15: Marketing Channels and Supply Chain Management
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183 Verified Questions
183 Flashcards
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Sample Questions
Q1) Refer to Scenario 15.1. Which of the following is most likely the primary factor Liz Claiborne, Inc. used when selecting the marketing channel for its Juicy Couture brand?
A)characteristics of the intermediaries
B)product attributes
C)type of organization
D)marketing environmental forces
E)competition
Q2) When Coach, the producer of fine leather handbags and accessories, decided to open its own specialty shops to sell its merchandise, and its own retail outlet stores, the firm was engaging in
A)multiple channel repetition.
B)vertical channel integration.
C)dual channel integration.
D)horizontal channel integration.
E)channel expansion.
Q3) Explain how electronic data interchange (EDI) and just-in-time (JIT) inventory management might be used in combination to improve physical distribution effectiveness and efficiency.
Q4) Analyze the total-cost approach to physical distribution.
Page 17
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Chapter 16: Retailing, Direct Marketing, and Wholesaling
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196 Verified Questions
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Sample Questions
Q1) Kate owns a refreshment-stand business at the community ballpark. She goes to a warehouse store like Sam's and purchases snacks and canned soda that she will sell at her refreshment stand. Kate is considered a(n)
A)wholesaler.
B)broker.
C)retailer.
D)intermediary.
E)agent.
Q2) An agent that receives goods on consignment from local sellers and negotiates sales in large, central markets is called a A)commission merchant.
B)sales branch agent.
C)selling agent.
D)manufacturers' agent.
E)broker-agent.
Q3) What should be considered when preparing a "party plan"?
Q4) What are the two categories of retail stores based on breadth of products offered, and what types of stores are in each category?
Q5) Under what conditions would a selling agent most likely be used?
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Which of the following types of promotion informs potential customers about a product and what it is?
A)Reminder
B)Competitive
C)Comparative
D)Pioneer
E)Repetitive
Q2) Communication can be viewed as a circular process because
A)during feedback, the receiver can be viewed as the source of the message while the original source becomes the receiver.
B)the message goes from encoding by the source to decoding by the receiver.
C)during a personal selling situation, both verbal and nonverbal feedback can be very fast and immediate.
D)channel capacity is determined by the least efficient component.
E)the message goes from person to person.
Q3) A promotion mix is a blend of four possible ingredients, which are advertising, personal selling, public relations, and sales promotion.
A)True
B)False
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Page 19
Chapter 18: Advertising and Public Relations
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Sample Questions
Q1) An evaluation performed before an advertising campaign begins is a
A)consumer exam.
B)posttest.
C)recognition test.
D)pretest.
E)recall test.
Q2) 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.
Q3) Which of the following lists forms of competitive advertising?
A)Pioneer, comparative, reminder
B)Reminder, repetitive, reinforcement
C)Comparative, reminder, reinforcement
D)Institutional, product, comparative
E)Product, pioneer, reminder
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Chapter 19: Personal Selling and Sales Promotion
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Sample Questions
Q1) A salesperson should not attempt to close a transaction until he or she has finished the entire presentation.
A)True
B)False
Q2) Which of the following best characterizes the function of recruiting and selecting a sales force?
A)It should be a continuous, systematic attempt to match applicants' characteristics to the firm's needs.
B)It is a process that should be set up that incorporates at least two steps: an interview and a written application.
C)Sources of applicants should be limited, since the recruitment process is expensive and more applicants mean greater expense.
D)After interviewing applicants, the manager should attempt to find a position that can be tailored to fit applicants' qualifications.
E)It should not be made from personnel in other departments in the firm, as this would necessitate training two people rather than one.
Q3) Identify and discuss some of the key objectives in using sales promotion.
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21
Chapter 20: Pricing Concepts
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Sample Questions
Q1) Marketers have no flexibility in setting prices under conditions of A)a monopoly.
B)an oligopoly.
C)perfect competition.
D)monopolistic competition.
E)no competition.
Q2) Demand is best determined by a top management committee.
A)True
B)False
Q3) Ethan is an operations unit manager for Morningstar Foods. So far in developing his monthly budget, he has identified the following costs: Overhead at $120,000; Packaging at $70,000; Advertising at $60,000; Salaries at $400,000; Food production at $90,000, and Distribution at $22,000. The fixed costs in this situation would be
A)overhead, packaging, advertising, salaries, food production, and distribution
B)overhead, packaging, advertising, salaries, and distribution
C)overhead, advertising, distribution, and salaries
D)overhead, advertising, and salaries
E)overhead
Q4) Why is the marginal revenue of a product important to the marketer?
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Chapter 21: Setting Prices
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Sample Questions
Q1) Identify and describe six types of psychological pricing.
Q2) Demand-based pricing strategies are easy to use.
A)True
B)False
Q3) If local Shell gasoline stations look at BP stations' prices as the primary method of determining its own prices, Shell is using ________
A)price fixing; which considers competition to be less important than costs.
B)price fixing; which considers costs to be less important than competitor's prices.
C)market share pricing; which considers competition to be the ultimate pricing goal.
D)competition-based pricing, which considers profit to be the ultimate pricing goal.
E)competition-based pricing, which considers costs to be less important than competitor's prices.
Q4) Describe, compare, and contrast the three major bases for setting prices.
Q5) How might a marketer find information about a competitor's prices? Why is this information important?
Q6) Explain the ethical implications of professional pricing.
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Page 23