Marketing Concepts
Mock Exam
Course Introduction
Marketing Concepts provides students with a foundational understanding of key principles and practices in modern marketing. The course explores essential topics such as market research, consumer behavior, segmentation, targeting, positioning, and the marketing mix (product, price, place, and promotion). Through real-world examples and case studies, students learn how organizations develop effective strategies to meet customer needs and gain a competitive advantage. Emphasis is placed on ethical marketing practices and adapting to evolving digital landscapes, equipping students with the knowledge required to make informed marketing decisions in diverse business environments.
Recommended Textbook
Marketing 2nd Edition by Shane Hunt Associate
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16 Chapters
2326 Verified Questions
2326 Flashcards
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Page 2
Chapter 1: Why Marketing Matters to You
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Sample Questions
Q1) How is the marketing concept different from the sales orientation strategy?
Answer: The sales orientation strategy concentrates on personal selling and advertising that work on getting customers to buy additional units of an existing product or to try a new product.This strategy tries to persuade customers to buy based on the product's or service's function.In the marketing concept,businesses concentrate on developing long-term relationships with their customers,and their success is based on satisfying customer needs,not just selling to them.
Q2) NAFTA is an international trade agreement between the United States
A)Canada,and Mexico.
B)India,and China.
C)China,and Japan.
D)and Brazil.
E)and Great Britain.
Answer: A
Q3) _______ marketing is a marketing strategy that consciously addresses customers,markets,and competition throughout the world. Answer: Global
Q4) Moral standards expected by a society are referred to as _______. Answer: ethics
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Chapter 2: Strategic Planning
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151 Flashcards
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Sample Questions
Q1) _______ planning defines the actions the company will take if the initial marketing strategy does not achieve results.
Answer: Contingency
Q2) According to the BCG Matrix,what defines a cash cow?
A)products that have a small market share in an industry with high growth rates
B)products that have a small market share in an industry with steady growth rates
C)products that have a small market share in an industry with low growth rates
D)products that have a large market share in an industry with high growth rates
E)products that have a large market share in an industry with low growth rates
Answer: E
Q3) While the specific format of the marketing plan differs from organization to organization,most plans include _____ components that communicate what the organization desires to accomplish and how it plans to achieve its goals.
Answer: five 5
Q4) The key component of the marketing plan that summarizes the plan's main points is called the _____ _____.
Answer: executive summary
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Chapter 3: The Global Environment
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Sample Questions
Q1) A nation's purchasing capability tends to increase when the proportion of
A)upper-income households increases.
B)middle-income households increases.
C)top wage earners increases.
D)top wage earners decreases.
E)lower-income households increases.
Answer: B
Q2) Cecilia used to spend a lot of time clipping coupons to save money at the grocery store.Since she got a smartphone,however,she now has apps that not only bring her coupons,but also help her create grocery lists,find recipes,and search for deals.This is an example of how the external factor of _______ influences the marketing environment.
Answer: technology
Q3) The fact that Home Depot and Lowe's both cater to the home improvement segment of the marketplace by selling similar products is an example of ________ competition.
Answer: direct
Q4) When consumers experience an increase in the general level of prices of products over a period of time,_______ has occurred.
Answer: inflation
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Page 5
Chapter 4: Consumer Behavior
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Sample Questions
Q1) Things like attitude,learning,and motivation are all _______ processes that can influence consumer behavior.
Q2) If,when buying a new refrigerator,you consider certain characteristics such as energy efficiency,storage capacity,and a water/ice dispensing system important,these are part of your evaluative criteria.
A)True
B)False
Q3) The broad set of knowledge,beliefs,laws,morals,customs,and any other capabilities or habits acquired by humans as members of society is referred to as A)perception.
B)norms.
C)consumer behavior.
D)culture.
Q4) What is the premise behind Maslow's hierarchy of needs and what are the individual needs he outlined in his hierarchy?
Q5) Business marketers typically deal with far _____ buyers than consumer marketers.
Q6) A buying situation that does not normally require any additional design modifications or contract negotiations is a _____ _____.
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Chapter 5: Marketing Research
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Sample Questions
Q1) Jane wants to know what percentage of freshmen at her college purchase clothing with college logos.She decides to randomly interview 10 people from each of the dorms and ask them.These people are her A)sample.
B)dependent variables.
C)bases.
D)targets.
E)quotas.
Q2) When the text used the example of Fuze setting up a mock store aisle full of beverages and watching how participants react to various types of packaging or where beverages are positioned in the aisle,it was describing marketing research that involves
Q3) What type of sampling occurs when every person in the target population has a chance of being selected,and the probability of each person being selected is known?
A)nonprobability
B)probability
C)preferred
D)quota
E)snowball
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Page 7
Chapter 6: Product Development
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Sample Questions
Q1) The new-product strategy development stage accomplishes all of the following except
A)it outlines the costs that will be incurred for the development of new products.
B)it specifies the target markets to be served by new products.
C)it specifies how new products will fit into the company's marketing plan.
D)it provides general guidelines for the new-product development process.
E)it outlines general characteristics of the types of products the firm will develop.
Q2) Explain the effects of the various stages of the product life cycle on product/service profitability.
Q3) A mock-up of a good with the materials the firm expects to use in the final product is called a
A)template.
B)sample.
C)model.
D)prototype.
E)blueprint.
Q4) There are ______ stages in the new-product development process.
Q5) A company's time to market is the speed with which it _____ a product.
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Chapter 7: Segmentation, Targeting, and Positioning
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Sample Questions
Q1) A psychographic segmentation variable that divides people into groups based on their opinion and the interests and activities they pursue is called
A)psychological segmentation.
B)lifestyle segmentation.
C)socioeconomic segmentation.
D)behavioral segmentation.
E)social segmentation.
Q2) When the similarity in needs and wants exists only within one country,a _______ segmentation strategy will be used.
Q3) A defined in your text,market segmentation involves dividing a larger market into smaller market segments based on
A)meaningfully shared characteristics.
B)geographic region.
C)available sales force.
D)potential interest in a product.
E)shopping habits.
Q4) A department store that sells ski equipment in Colorado understands the importance of _______ segmentation.
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9
Chapter 8: Promotional Strategies
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Sample Questions
Q1) One of the advantages of radio as an advertising medium is that it
A)is audio-only.
B)doesn't require marketers to segment an audience.
C)is good for complex messages.
D)is cost-effective.
E)has a long exposure timE.
Q2) Billboards,skywriting,and ads on the sides of buses are all forms of
A)print advertising.
B)social media advertising.
C)outdoor advertising.
D)mobile advertising.
E)direct marketing.
Q3) How does a McDonald's television ad for a Big Mac meet the three primary objectives of an advertising campaign to inform,persuade and remind?
Q4) A marketer that compares total revenue to the amount of money spent on _____ is calculating revenue per ad dollar.
Q5) _______ advertising is often the most cost-effective medium available to a company.
Q6) What are the four elements of the promotion mix?
Page 10
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Chapter 9: Supply Chain and Logistics Management
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Sample Questions
Q1) In a _____ strategy,customer orders drive(s)manufacturing and distribution operations.
Q2) Effective ________ management creates place and time utilities that are essential to keeping customers satisfied and allows companies to market goods to greater distances,helping companies build global supply chains and compete in new markets.
Q3) _____ _____ is calculated by dividing the cost of goods sold by the company's average inventory level.
Q4) The main advantage of a supply chain pull strategy is that it allows firms to achieve economies of scale.
A)True
B)False
Q5) Costs required to make or buy a product including taxes,insurance and warehousing space to store the goods are referred to as production costs.
A)True B)False
Q6) Product allocation enables companies to keep expired products off store shelves. A)True
B)False
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Chapter 10: Pricing
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Sample Questions
Q1) A strategy in which two or more products are packaged together and sold at a single price is called price
A)pushing.
B)grouping.
C)skimming.
D)bundling.
E)packaging.
Q2) Freshpet is a manufacturer of fresh,all-natural dog and cat food.The company conducted a survey and found that customers considered $25.00 for its 3-lb bag of complete meals to be reasonable since the product is made in the U.S.A.from fresh,all-natural ingredients.For Freshpet,$25.00 represents its targeted consumers' _______ price.
Q3) The first step in the price-setting process is to
A)compare alternatives.
B)analyze the competitive price environment.
C)determine the costs.
D)define the pricing objectives.
E)evaluate demand.
Q4) Costs that remain constant and do not vary based on the number of units produced or sold are called _______ costs.
Page 12
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Chapter 11: Retailing
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Sample Questions
Q1) Retail ______,which are the sensory-based stimuli within the retailer's environment,have been shown to contribute greatly to people's shopping enjoyment.
Q2) A group of independent retailers that band together to set up a jointly owned,central wholesale operation that also conducts joint merchandising and promotion is referred to as a
A)franchise.
B)retailer cooperative.
C)voluntary chain.
D)corporate chain.
E)consumer cooperativE.
Q3) Category management is a merchandising technique that focuses on the performance of
A)competing brands.
B)a product category.
C)store atmospherics.
D)individual brands.
E)a store's layout.
Q4) Explain the difference between product breadth and product depth.
Q5) Describe the three different location types available to a retailer.
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Chapter 12: Personal Selling
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Sample Questions
Q1) Key-account sellers are responsible for a large number of important accounts.
A)True B)False
Q2) While in his sales presentation,Lucas encountered an objection from the customer before finishing his presentation.Lucas responded by telling the customer that he would address his point in a few minutes and continued on with his presentation.This technique for overcoming objections is called _______.
Q3) As noted in your text,a comprehensive analysis of more than 35,000 B2B sales calls found that successful meetings were the result of
A)the salesperson meeting with more than one buyer.
B)the buyer and the salesperson conducting the meeting over a meal.
C)the salesperson prompting the buyer to do most of the talking by asking questions.
D)the salesperson taking charge of the meeting by doing most of the talking.
E)the customer listening to a lengthy sales pitch.
Q4) Personal selling is a one-directional form of communication.
A)True B)False
Q5) Delivery salespeople are also known as _____ salespeople.
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Chapter 13: Digital Social Media Marketing
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Sample Questions
Q1) Geo-fencing is a location-based technology that uses small sensors to send messages to smartphone users who enter a nearby,defined geographic area.
A)True
B)False
Q2) _____ marketing refers to the marketing of goods or services using digital media,such as e-mail websites,search engines,and social media platforms.
Q3) _____ refers to the spacing between letters and lines and the use of reader-friendly fonts.
Q4) Kelsey liked her new smart television so much,she went online to the company's website to post a positive review of it.What type of content is Kelsey's product review?
A)user-generated content
B)branded content
C)third-party content
D)secondary content
E)expert content
Q5) Search engines build an index of all web content through the use of spiders.
A)True
B)False
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Chapter 14: Customer Relationship Management
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Sample Questions
Q1) The corporate culture at Southwest Airlines includes giving employees permission to make decisions and take action on their own to help their customers.This is the idea behind _______.
Q2) If a company orders $15,300 worth of product,and the items actually shipped on time are worth $14,500,the dollar fill rate is _______ percent.
Q3) What are the functions in the order cycle?
Q4) When a firm measures the accuracy and timeliness of the information fed back to a customer concerning product availability and delivery dates,it is measuring customer communication at what point?
A)order fill point
B)delivery point
C)pre-transaction point
D)transaction point
E)post-transaction point
Q5) Customer relationship management is a(n)_______ process,meaning that the firm repeats the sequence of steps as necessary to reach the desired result.
Q6) What are some of the metrics that you can use to track customer service performance for your auto parts and accessories business?
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Chapter 15: Branding
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Sample Questions
Q1) When the makers of Arm and Hammer Baking Soda created toothpaste containing baking soda as one of its ingredients,it was attempting to broaden its current brand with a new product.This strategy is called brand _______.
Q2) A global brand is a brand that is marketed under the same name in multiple countries.
A)True
B)False
Q3) Among those who share their brand experiences through social media,more than half said they do so to receive discounts.
A)True
B)False
Q4) Which component of a successful brand allows firms to engage customers through online surveys and social media tools?
A)create consistent brand messaging
B)deliver a quality product
C)capture feedback
D)create a consistent brand image
E)evaluate competitor's products
Q5) What are the benefits to an organization of brand equity?
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Chapter 16: Social Responsibility and Sustainability
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Sample Questions
Q1) Not including all significant _______ in the auditing process is perhaps the biggest misstep marketers can make when evaluating the success of their CSR programs.
Q2) The economic dimension of corporate social responsibility revolves around the fact that for-profit firms have a responsibility to their stakeholders to be _______.
Q3) The policy or practice of employees volunteering their time or talents for charitable,educational,or other worthwhile activities,especially in the community,is called
A)corporate philanthropy.
B)corporate volunteerism.
C)community marketing.
D)public relations.
E)stakeholder management.
Q4) The practice of recreational traveling in a way that maximizes the social and economic benefits to the local community and minimizes the negative impact on cultural heritage and the environment is called green tourism.
A)True
B)False
Q5) What environmental marketing strategies can a firm follow?
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