Marketing Concepts
Test Preparation
Course Introduction
Marketing Concepts introduces students to the foundational principles and practices of marketing within modern business environments. The course covers essential topics such as the marketing mix (product, price, place, promotion), market segmentation, consumer behavior, branding, and the role of digital marketing. Students will learn how organizations identify and target audiences, create value propositions, and build customer relationships. Real-world examples and case studies help illustrate the development and execution of effective marketing strategies, preparing students for more advanced study or entry-level roles in the field.
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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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) According to your text,what is the most basic concept in marketing?
A)streamlining production costs to generate maximum profits
B)satisfying the needs of stakeholders
C)getting all members of an organization to agree on a marketing plan
D)determining the best advertising outlet for a product
E)determining the difference between consumer needs and wants
Answer: E
Q2) Marketers create value for customers when they develop products that allow consumers to satisfy their needs and wants through exchange relationships.
A)True
B)False
Answer: True
Q3) The organizational function and set of processes for creating,communicating,and delivering value to customers and managing customer relationships in ways that benefit the organization and its employees,customers,investors,and society as a whole is referred to as __________.
Answer: marketing
Q4) The four Ps are product,price,place,and _______.
Answer: promotion
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Chapter 2: Strategic Planning
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151 Verified Questions
151 Flashcards
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Sample Questions
Q1) Once the situation analysis is complete,marketers focus on defining their
A)mission statement.
B)competition.
C)SWOT analysis.
D)marketing strategy.
E)strategic plan.
Answer: D
Q2) The measure of a firm's effectiveness in using the resources allocated to its marketing effort is called
A)return on marketing investment.
B)gross expenditures.
C)market share analysis.
D)marketing revenue analysis.
E)gross margin.
Answer: A
Q3) A quality marketing objective should have three basic characteristics.It should be specific,measurable,and ________.
Answer: realistic
Q4) Typically,the least-risky option for entering international markets is _______.
Answer: exporting
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Chapter 3: The Global Environment
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143 Verified Questions
143 Flashcards
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Sample Questions
Q1) Karlee needed to pick up some toothpaste from the store.She was surprised to find that the store was out of her usual brand,Crest.Rather than go to another store,she decided to buy a tube of Colgate instead.In this example,Colgate represents A)an unsought good.
B)a substitute product.
C)lateral competition.
D)indirect competition.
E)a disposable product.
Answer: B
Q2) The largest share of U.S.exports is to A)the European Union.
B)China.
C)Canada and Mexico.
D)Canada and Japan.
E)Brazil and India.
Answer: C
Q3) During the recession that began in December of 2007,Americans reduced their overall charitable giving by over _______ percent.
Answer: 20 twenty
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Page 5
Chapter 4: Consumer Behavior
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154 Verified Questions
154 Flashcards
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Sample Questions
Q1) The family life cycle describes the distinct family-related phases that an individual progresses through over the course of his or her life.
A)True
B)False
Q2) The selling of goods and services to end-user customers is referred to as
A)B2B marketing.
B)C2C marketing.
C)C2B marketing.
D)B2C marketing.
Q3) _______ consists of marketing to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others.
Q4) When a car dealership sells an automobile to a customer,this is an example of a ________ transaction.
Q5) The distinct family-related phases that an individual progresses through over the course of his or her life are referred to as the _____ _____ _____.
Q6) Nikola was laid off from his job and needs to find new employment.According to Maslow's hierarchy of needs,the need to find work represents a _______ need.
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Page 6
Chapter 5: Marketing Research
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147 Verified Questions
147 Flashcards
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Sample Questions
Q1) Without accurate global marketing research,it is likely that companies trying to do business in foreign countries will ________.
Q2) ______ ______ is an organizational activity that links the consumer,customer,and public to the marketer through information.
Q3) Which of the following would you use if you were tasked with reviewing company data in order to look for trends in sales,identify problems with elements of the marketing mix,and provide quick feedback to managers concerning proposed marketing plans?
A)a behavioral targeting system
B)a decision support system
C)competitive intelligence
D)ethnographic research
E)a demand analysis
Q4) Which neuromarketing technique looks for active areas in the brain by measuring the amount of oxygenated blood flowing through the body?
A)eye tracking
B)heat mapping
C)fMRI
D)EEG
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Chapter 6: Product Development
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153 Verified Questions
153 Flashcards
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Sample Questions
Q1) The final stage in the consumer adoption process is _______,whereby the consumer actually buys and uses the product.
Q2) The extent to which a country is connect to other cultures is referred to as
A)cosmopolitanism.
B)homiphily.
C)complexity.
D)compatibility.
E)modernity.
Q3) The final stage of the new-product development process is the _____ _____.
Q4) Dell doesn't currently offer an e-reader in its product line.However,if the company decided to enter the market by producing an e-reader of its own,it would be classified as what type of product?
A)product-line improvement
B)new category entry
C)revamped product
D)product-line extension
E)new-to-the-market
Q5) The main objectives of the _______ stage of the product life cycle are profitability and maintaining the firm's market share for as long as possible.
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Chapter 7: Segmentation, Targeting, and Positioning
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) Marketers are particularly interested in segmenting older Americans because they typically have two things that most of their younger counterparts do not: time and
Q2) Business-to-business firms generally segment their markets according to what three variables?
A)profit potential,price sensitivity,and demand
B)demographic,geographic,and behavioral
C)market size,customer convenience,and usage rate
D)price sensitivity,usage rate,and region
E)demographic,geographic,and psychographic
Q3) Demographic segmentation divides markets by
A)characteristics such as loyalty and price sensitivity.
B)geographic location.
C)psychological traits.
D)consumer attitudes.
E)characteristics such as age,gender,and incomE.
Q4) When companies divide markets using characteristics such as age,gender,income,education,and family size,they are segmenting the market by
Q5) How does a business know it has effectively segmented its markets?
Page 9
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Chapter 8: Promotional Strategies
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) A premium is a promotional item that is given as an incentive for performing a particular act,typically buying a product.
A)True
B)False
Q2) A strategy of cultivating high-frequency advertising at a low cost can improve
A)frequency.
B)rate of trial.
C)duration.
D)revenue per ad dollar.
E)reach.
Q3) The public relations tool that provides a forum for the organization to share with its stakeholders what it has achieved over the past year is the _____ _____.
Q4) High-involvement consumer products,such as a house or a car,benefit most from which form of advertising?
A)outdoor
B)television
C)mobile
D)print
E)radio
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Chapter 9: Supply Chain and Logistics Management
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) Enterprise resource planning (ERP)systems are data management systems that are used exclusively to determine efficient transportation routes.
A)True
B)False
Q2) Which type of supply chain strategy is demonstrated by the following sequence: (Step 1)forecast sales, (Step 2)plan production, (Step 3)order materials, (Step 4)customer orders, (Step 5)make product,and (Step 6)ship product?
A)a push-pull strategy
B)push strategy
C)supply strategy
D)pull strategy
E)demand strategy
Q3) During the maturity and decline stages,a firm may want to stick with the maximum flexibility a pull strategy allows or follow a hybrid strategy that commits to inventory of raw and packaging materials without committing to a large amount of finished goods inventory.
A)True
B)False
Q4) What are the differences between a push and a pull strategy?
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Chapter 10: Pricing
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) According to the textbook,what are the three pricing objectives that a business could have?
Q2) What are the various pricing tactics that a business can use?
Q3) Two of the most common and effective strategies for raising prices are unbundling and _______ clauses.
Q4) Priceline.com is a type of "name-your-own-price" _____ site where a consumer submits a bid at the price he or she is willing to pay for a product or service.
Q5) What is marginal revenue?
A)the total change in revenue that results from a large change in product price
B)the change in total revenue that results from selling one additional unit of a product
C)the change in total revenue that results from producing one additional unit
D)a percentage change in price that results from a change in quantity demanded
E)the total change in revenue that results from a small change in product price
Q6) The practice of first setting prices low with the intention of pushing competitors out of the market or keeping new competitors from entering the market,and then raising prices to normal levels is referred to as _______ pricing.
Q7) The objective of strategic pricing is _______.
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Chapter 11: Retailing
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139 Verified Questions
139 Flashcards
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Sample Questions
Q1) The decline in department store retail sales can be attributed,in part,to the growth of the Internet and B2C e-commerce.
A)True
B)False
Q2) Direct selling is also known as direct ______.
Q3) David buys ski equipment from various manufacturers and resells the products to consumers that come into his store.David is a ______.
Q4) According to your text,consumer interest in lower prices and ______ are the two things driving strategic issues in 21-century retailing.
A)brand loyalty
B)global retailing
C)a focus on product quality
D)intensified competition
E)a focus on sustainability
Q5) Over 95 percent of retailers operate more than one store.
A)True
B)False
Q6) What advantages are there for a manufacturer to open a factory outlet store?
Q7) Explain the difference between product breadth and product depth.
Page 13
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Chapter 12: Personal Selling
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145 Flashcards
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Sample Questions
Q1) In a _____ close,the salesperson asks questions throughout the sales presentation that tests the buyer's readiness to commit.
Q2) When determining the size of the sales force,sizing approaches are broadly categorized as
A)account-based or geographic-based.
B)product-based or territory-based.
C)customer-based or company-based.
D)existing product-based or new product-baseD.
E)cost-based or market-based.
Q3) Because the duties of delivery salespeople revolve around order-taking,they typically manage a large customer base.
A)True
B)False
Q4) Historically,the primary emphasis for the sales force was on increasing the volume of sales transactions.
A)True
B)False
Q5) _____ _____ management involves the planning,direction,and control of personal selling activities.
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Chapter 13: Digital Social Media Marketing
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139 Verified Questions
139 Flashcards
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Sample Questions
Q1) A concise yet authoritative report or guide that seeks to inform readers about a complex issue and presents the issuing body's philosophy on the matter is referred to as
A)an annual report.
B)a white paper.
C)branded content.
D)a web log.
E)a blog.
Q2) The most popular paid search platform used by search marketers is
A)Google AdWords.
B)Yahoo Ads.
C)Bing Ads.
D)Firefox AdWords.
E)AOL Ads.
Q3) 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
Q4) Briefly describe the phases in the website design (or redesign)process.
Q5) A _____ is a visual guide that represents the skeletal framework of a website.
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Chapter 14: Customer Relationship Management
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) The performance measurement that calculates the percentage of an order shipped on time and complete is called the
A)item fill rate.
B)accuracy rate.
C)fill rate.
D)perfect order rate.
E)on-time delivery ratE.
Q2) Angela ordered a new sweater online.Once the order was complete,the company sent her an e-mail with a link to the shipping status of her order.Angela could use this link at any time to see exactly where her package was in the delivery process.This is an example of _____ _____ communication.
Q3) The performance measurement known as line fill rate measures
A)the percentage of an order shipped on time and complete.
B)the percentage of the total number of items on the order that the firm shipped on time.
C)the percentage of item stocking types on the order shipped on time and complete.
D)the value of goods shipped on time versus the line item value of the order.
E)the value of the line items that have shipped on timE.
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Chapter 15: Branding
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) You presently operate a successful catering business,but feel that your business has reached its maximum sales and profit potential.You have a very strong brand that is recognized by most of the consumers in your area.How could you take advantage of this brand equity to capitalize on your catering business and seek out additional sales?
Q2) What social brand monitoring tool allows a firm to capture its brand across most social media sites by monitoring over 100 platforms,isolating relevant keywords and measuring the brand's impact online?
A)Twitter Search
B)Social Mention
C)Google Alerts
D)Klout
E)Talkwalker
Q3) The benefit of co-branding is that if one of the brands involved receives negative publicity,it usually doesn't affect the other brand in any way.
A)True
B)False
Q4) Private label brands are also referred to as _______ brands.
Q5) How can social media be used to get customers involved with brands?
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Chapter 16: Social Responsibility and Sustainability
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) When it comes to encouraging sustainable consumer behavior,marketers must overcome consumers' negative perceptions.According to your text,these negative perceptions revolve around the A)product's sustainability claims.
B)product's misleading advertising.
C)product's quality.
D)product's price.
E)product's distribution.
Q2) A commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs is referred to as A)environmentalism.
B)sustainability.
C)green marketing.
D)eco-management.
E)consumerism.
Q3) The _______ is a scorecard of America's community-minded companies produced by Bloomberg LP in partnership with the National Conference on Citizenship and Points of Light.
Q4) What environmental marketing strategies can a firm follow?
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