Marketing Concepts Practice Exam
Course Introduction
Marketing Concepts introduces students to the fundamental principles and practices of marketing, emphasizing the creation, communication, and delivery of value to customers. The course covers essential topics such as the marketing mix (product, price, place, promotion), market segmentation, consumer behavior, branding, and market research. Students will explore how marketing strategies are developed and implemented in contemporary business environments and will analyze real-world case studies to understand the practical application of marketing theories. By the end of the course, students will have a foundational understanding of how marketing drives organizational success and builds lasting customer relationships.
Recommended Textbook
MKTG 9 9th Edition by Charles W. Lamb
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21 Chapters
1256 Verified Questions
1256 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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Sample Questions
Q1) Which of the following is a drawback of the production-orientation philosophy?
A)It ignores the importance of assessing a firm's internal capabilities.
B)It overlooks the importance of market research.
C)It places little emphasis on the assessment of manufacturing plants and facilities.
D)It gives importance to the sales function over other functions.
Answer: B
Q2) Consumer's expectations of doing new things with varied kinds of information in ways that create value have resulted in the emergence of _____.
A)the sales-orientation philosophy
B)the production-oriented philosophy
C)communicator valence
D)on-demand marketing
Answer: D
Q3) A market-oriented organization recognizes that different customer groups want different features or benefits.
A)True
B)False
Answer: True
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3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) Which of the following statements is true about stars in the portfolio matrix?
A)They have low growth potential and small market shares.
B)They require minimal funding.
C)They have low market shares in high-growth industries.
D)They are fast growing market leaders.
Answer: D
Q2) In the context of SWOT analysis,marketers can identify strengths and weaknesses by focusing on:
A)employee capabilities.
B)government policies.
C)quality of products produced by competitors.
D)foreign competitors.
Answer: A
Q3) The price component of a marketing mix is:
A)a competitive weapon for companies.
B)decided after the promotion strategies are finalized.
C)the starting point of the marketing mix.
D)the least flexible element of the marketing mix.
Answer: A
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Page 4
Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) The Foreign Corrupt Practices Act:
A)applies exclusively cases of financial misrepresentations made by foreign corporations that have entered into contracts with U.S.corporations.
B)prohibits U.S.corporations from entering into contracts with foreign corporations.
C)applies exclusively to foreign corporations in the U.S.
D)prohibits U.S.corporations from bribing public officials of foreign governments.
Answer: D
Q2) Marketing professionals who perceive fewer ethical problems in their organizations tend to disapprove more strongly of "unethical" or questionable practices than those who perceive more ethical problems.
A)True
B)False
Answer: True
Q3) In the context of determinants of civil society,__________involves the voluntary acceptance of standards established by nongovernmental entities.
Answer: self-regulation
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5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) The__________is a government body that has the power to prescribe mandatory safety standards for almost all products used by customers.
Q2) Which of the following is true of individuals belonging to the baby boom generation?
A)They have the least spending power than any other cohort.
B)They spend more on food than any other generational demographic.
C)They are the first generation of latchkey children.
D)They are willing to change brands and try new things.
Q3) Which of the following statements is true about tweens?
A)They are aged between eighteen and twenty-five years.
B)They prefer and value traditional media over social media.
C)They have more spending power than any other cohort.
D)They have their own social media outlets.
Q4) Companies can effectively market to teens by:
A)making products that are complex to use.
B)distributing products online rather than in stores.
C)using radio as the primary promotional tool.
D)using interactive contests and voting challenges.
Q5) The Federal Trade Commission's Bureau of Competition__________.
Q6) Discuss the relationship between businesses and the government.
Page 6
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) Joint ventures are successful,however they can be risky.This is because joint ventures:
A)consist of partners who sometimes cannot agree on management policies.
B)depend heavily on contract manufacturing.
C)are void of government interference.
D)are very different from licensing agreements.
Q2) A(n)__________is an intermediary who brings a buyer and a seller together.
Q3) Fashion Spell,an apparel store,has a page on Facebook through which it interacts with its customers.It encourages customers to post comments about the store and give feedback.It also holds a lucky draw competition every week and the winner receives a gift voucher from Fashion Spell.Given this information,Fashion Spell uses _____ to increase its customer base.
A)social media marketing
B)product adaptation
C)contract manufacturing
D)countertrade
Q4) A company is most likely doomed to failure in a foreign country if it__________.
Q5) In the context of global marketing,when a domestic firm buys part of a foreign company or joins with a foreign company to create a new entity,it is known as a__________.
Page 7
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Chapter 6: Consumer Decision Making
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Sample
Questions
Q1) A few years ago,Jenny Inc.introduced a small,lightweight snow removing machine in the market called the Snow Pup.Even though the product worked well,sales failed to meet expectations because consumers perceived the name to mean that the Snow Pup was a toy or too light to do any serious snow removal.In this scenario,which of the following explains the perception of consumers?
A)Selective distortion
B)Stimulus discrimination
C)Cognitive dissonance
D)Confirmation bias
Q2) __________is the set of values,norms,attitudes,and other meaningful symbols that shape human behavior and is transmitted from one generation to the next.
Q3) Members of a family who suggest or plant the seed for the purchase process are called _____.
A)influencers
B)purchasers
C)consumers
D)initiators
Q4) Explain how cultural influences affect consumers.
Q5) Explain Maslow's hierarchy of needs.
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Chapter 7: Business Marketing
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Sample Questions
Q1) Both relationship commitment and trust are necessary for a strategic alliance to succeed in the long run.
A)True
B)False
Q2) __________are expense items that do not become part of a final product.
Q3) Businesses contract outside providers to perform services such as janitorial,advertising,legal,and so on.when it costs less than hiring an employee to perform the particular task.
A)True
B)False
Q4) A decline in the availability of bicycle handle bars will decrease Huffy Bicycle Company's production of bicycles.This decreased production in turn will reduce Huffy's demand for bicycle seats.This scenario illustrates_____ demand.
A)inelastic
B)joint
C)elastic
D)fluctuating
Q5) Items such as sheet metal,treated lumber,corn syrup,and plastics are examples of__________.
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) Brasco Motor Company produces a wide range of vehicles such as passenger cars,commercial trucks,specialty vehicles,performance vehicles,and race cars.Each type of car has a separate and distinct customer base.Given this information,Brasco Motor Company has divided its customer base by using the strategy of _____.
A)perceptual mapping
B)positioning
C)cannibalization
D)market segmentation
Q2) A firm's marketing mix is not influenced by the market segmentation process.
A)True
B)False
Q3) An advantage of concentrated marketing is the potential for saving on production and marketing by using an undifferentiated targeting strategy.
A)True
B)False
Q4) The customer relationship management (CRM)technique that focuses on thanking customers for their business to a company exemplifies the trend of__________.
Q5) How do marketers use customer relationship management (CRM)as a targeting tool?
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Chapter 9: Marketing Research
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Sample Questions
Q1) Explain some of the program attributes included in the Maritz Marketing Research Loyalty Report.How are these attributes used by managers who design customer loyalty programs?
Q2) The publisher of a business magazine wants to make several major changes in the magazine's content and format.Which of the following will enable the publisher to understand the changes that will most likely be welcomed by its readers?
A)Product differentiation
B)Cannibalization
C)Marketing research
D)Planned obsolescence
Q3) The research design for solving a particular problem contains instructions on how the results of the marketing research should be implemented and verified for effectiveness.
A)True
B)False
Q4) Marketing research is of little help to managers who want to understand detailed and complicated relationships.
A)True
B)False
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Chapter 10: Product Concepts
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Sample Questions
Q1) _____ refers to the number of product lines an organization offers.
A)Product line assortment
B)Product equity
C)Product mix width
D)Product line depth
Q2) __________is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly.
Q3) __________is a type of co-branding that occurs when two brands receiving equal treatment borrow from each other's brand equity.
Q4) Explain planned obsolescence with at least two examples.Discuss if planned obsolescence is ethical or unethical.
Q5) Name and briefly define the four categories of consumer products.For each category,list three specific examples of products that would most likely be classified in that category.
Q6) An organization's product mix includes all of the products it sells.
A)True
B)False
Q7) What are universal product codes (UPCs)? Explain their use in packaging.
Page 12
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) A difference between early majority and early adopters is that early majority are:
A)more likely to be opinion leaders.
B)more eager to try new products and ideas,almost as an obsession.
C)likely to collect more information and evaluate more brands.
D)less likely to extend the adoption process.
Q2) Which of the following is an advantage of simultaneous product development?
A)It shortens a product's development process.
B)It ensures that a development process proceeds through highly structured stages.
C)It lengthens product lines to appeal additional markets.
D)It eliminates the need for test marketing a new product.
Q3) A new-product strategy describes the characteristics of products an organization wants to offer and the markets it wants to serve.
A)True
B)False
Q4) Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.
Q5) __________have the longest product life cycles.
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Page 13
Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) Goods tend to be less standardized and uniform than services because they have greater heterogeneity.
A)True
B)False
Q2) Green & Gold is a coffee chain based in the United States.Its management has been trying to refocus on the things that originally made the company successful.For example,Green & Gold stores across the United States recently shut down for a short period of time for retraining,and the company has worked to make sure that customers can smell the freshly ground coffee aroma when they pass by the store.However,when questioned,consumers tend to emphasize on the need for pricing incentives such as a frequent purchasing program.According to the _____,there may be a difference between what customers want and what Green & Gold management thinks customers want.
A)gap model of service quality
B)service pyramid
C)four dimensions of service quality
D)service paradigm
Q3) When is a service mix effective?
Q4) __________refers to the follow-up activities that a service firm might engage in after a customer transaction.
Page 14
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Chapter 13: Supply Chain Management
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Sample Questions
Q1) Lina and her friends decide to watch a movie at Lina's house.They watch the movie online on MovieStop.com.This business model is an example of__________.
Q2) Future Market,a supermarket chain,uses bar codes for all its products.As soon as a product is sold,the information is electronically transferred to the firm's warehouse and the product's supplier.In addition,changes are automatically made to the firm's sales account and stock ledger.This helps the firm reduce its paperwork and makes managing inventory easier.This is an example of__________.
Q3) Sustainable supply chain management primarily involves:
A)focusing on how to reduce interactions among suppliers,manufacturers,and end users.
B)emphasizing short-term initiatives to preserve resources for the next production cycle.
C)the use of the least expensive manufacturing,materials-handling,and transportation systems as part of the supply chain management process.
D)the integration and balancing of environmental,social,and economic thinking into all phases of the supply chain management process.
Q4) Explain in detail the product development and commercialization process.
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Page 15
Chapter 14: Marketing Channels
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Sample Questions
Q1) Retailers are those firms in a marketing channel that sell directly to consumers as their primary function.
A)True
B)False
Q2) Which of the following is true of nontraditional channels?
A)They detract from the profitability of the primary and secondary channels controlled by a business.
B)They are used to sell stolen or counterfeited products.
C)They enable a consumer to return a product when it reaches the end of its useful life.
D)They help differentiate a firm's product from the competition.
Q3) Retailers simplify distribution by cutting the number of transactions required by consumers,making an assortment of goods available in one location.
A)True
B)False
Q4) A__________is a business structure of interdependent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain.
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16
Chapter 15: Retailing
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Sample Questions
Q1) The technique used to sift through data collected by point-of-purchase scanning equipment is called _____.
A)big data analysis
B)shopper marketing
C)market-basket analysis
D)shopper analytics
Q2) To manage service capacity,service firms must turn down some prospective customers if they do not have the capacity to meet demands.
A)True
B)False
Q3) __________compete on the basis of low prices,high turnover,and high volume.
Q4) Tipplers Delight is a liquor store that sells a wide assortment of alcoholic beverages.Tipplers Delight is an example of a _____.
A)supermarket
B)specialty store
C)supercenter
D)drugstore
Q5) What is brand cannibalization? Why is it dangerous to the retailer?
Q6) Explain in detail the four areas that service distribution should focus on.
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Chapter 16: Marketing Communications
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Sample Questions
Q1) The use of aggressive personal selling and trade advertising by a manufacturer to convince a wholesaler or a retailer to carry and sell particular merchandise is known as a__________strategy.
Q2) Advent Automobiles Inc.launches a new sport utility vehicle.The company places advertisements in leading newspapers and social media sites to reach out to consumers.In the context of the communication process,Advent Automobiles Inc.is the__________.
Q3) __________promotion is designed to stimulate a purchase or an action.
Q4) Explain the differences between push and pull strategies with examples.
Q5) A beverage company plans to launch a new energy drink.It decides to partly sponsor a marathon in the city.It places billboards and posters describing the new drink throughout the marathon route.Company representatives distribute flyers to people arriving to watch the marathon.The company also issues press releases as part of the product launch.Therefore,the company is executing a:
A)sales promotion campaign. B)personal selling campaign.
C)target marketing strategy.
D)public relations strategy.
Q6) Explain the different stages in a product's life cycle.
Page 18
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Chapter 17: Advertising, public Relations, and Sales Promotion
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Sample Questions
Q1) Kriyoto Inc.is a retailer of printers,scanners,and other office equipment.It announced a cash refund for corporate purchases in quantities more than ten.Rick purchased ten color printers for his office from Kriyoto during this sale.To avail the cash refund,he had to mail in a proof of purchase,purpose of purchase,proof of his company's legality,and his cash register receipt.In this case,Rick has received a:
A)premium.
B)trade allowance.
C)push money.
D)rebate.
Q2) Which of the following is true of pioneering advertising?
A)It offers consumers in-depth information about the benefits of a new product.
B)It is highly used during the growth stage of the product life cycle.
C)It focuses on influencing demand for a specific brand.
D)It is used mainly to compare brands on one or more specific attributes.
Q3) Which form of advertising is designed to influence demand for a specific brand?
A)Institutional advertising
B)Advocacy advertising
C)Competitive advertising
D)Pioneering advertising
Page 19
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Chapter 18: Personal Selling and Sales Management
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Sample Questions
Q1) The final stage of sales management is evaluating the effectiveness and performance of a company's sales force.
A)True
B)False
Q2) AutomatedFry Inc.is the leading manufacturer of ventless deep fryers.It has developed a new high-capacity fryer.To identify the prospective clients for its latest product,it sends out brochures to thousands of food-service managers along with a detachable card that the managers can use to request more information.Based on this information,AutomatedFry Inc.is involved in the__________step of the selling process.
Q3) Mandy's Packaging Inc.is a multibillion-dollar supplier of packaging materials.One of its salespeople rearranged production schedules at three different plants to satisfy an unexpected demand for boxes from a major client.The salesperson's action is typical of the company's sales philosophy and indicates an emphasis on__________.
Q4) Ego strength is one of the traits that sales managers look for while recruiting salespeople.
A)True
B)False
Q5) Why do effective negotiators avoid using price as a negotiation tool?
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Chapter 19: Social Media and Marketing
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Sample Questions
Q1) Which of the following is true of social media?
A)It cannot be compared to traditional advertising in any meaningful way.
B)It offers a mass-media method of interacting with customers.
C)It has less sophisticated ways of measuring how marketers meet and interact with consumers than traditional advertising.
D)It offers more one-to-one ways to meet consumers than traditional marketing media.
Q2) A popular production house wants to release a teaser of one of its upcoming movies to create a buzz among the public.Which of the following is the best platform that can be used by the studio?
A)Picasa
B)Photobucket
C)YouTube
D)Imgur
Q3) Which of the following is a location-based social networking site?
A)Facebook
B)Twitter
C)WordPress
D)FourSquare
Q4) Distinguish between owned media and earned media with examples.
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Chapter 20: Pricing Concepts
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Sample Questions
Q1) Which of the following is true about shopping bots?
A)They encourage a more creative use of advertising.
B)They create opportunities for prestige pricing.
C)They search the Web for the best price for a product.
D)They create inelastic demand.
Q2) Price is not used for trade promotions as it garners a negative opinion for the brand.
A)True
B)False
Q3) What happens when demand is elastic?
A)As price goes up,revenue goes down.
B)As price goes down,revenue goes down.
C)As price goes up,revenue goes up.
D)As price goes up,revenue does not change.
Q4) Why are more and more companies turning to dynamic pricing?
A)To help adjust prices
B)To implement bait pricing
C)To implement free on board origin pricing
D)To establish inelasticity of demand
Q5) __________costs do not change as output is increased or decreased.
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Chapter 21: Setting the Right Price
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Sample Questions
Q1) _____ is a price tactic that charges freight costs from a given point,regardless of the city from which the goods are shipped.
A)Free on board (FOB)origin pricing
B)Zone pricing
C)Uniform delivered pricing
D)Basing-point pricing
Q2) _____ is a price tactic that requires abuyerto absorb the freight costs of a product from the shipping point.
A)Free on board (FOB)origin pricing
B)Zone pricing
C)Uniform delivered pricing
D)Basing-point pricing
Q3) The most common markup figures on merchandise and transportation costs are six percent at the retail level and two percent at the wholesale level.
A)True
B)False
Q4) A__________is a price reduction offered to a consumer,an industrial user,or a marketing intermediary in return for prompt payment of a bill.
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