Marketing Essentials
Exam Preparation Guide
Course Introduction
Marketing Essentials provides an introduction to the key concepts, strategies, and tools used in modern marketing. Students will explore the fundamentals of consumer behavior, market research, segmentation, targeting, and positioning, as well as the development of effective marketing mixes involving product, price, place, and promotion. The course also covers digital marketing trends, branding, and ethical considerations, equipping learners with the foundational knowledge needed to understand how organizations create value and build strong customer relationships in a competitive marketplace.
Recommended Textbook
MKTG6 6th Edition by Charles W. Lamb
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22 Chapters
3901 Verified Questions
3901 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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180 Verified Questions
180 Flashcards
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Sample Questions
Q1) A company that wants to implement a market orientation would need to:
A)do research on its customers,competitors,and markets.
B)determine how to deliver superior customer value.
C)establish and maintain mutually satisfying relationships with customers.
D)implement actions that provide value to customers.
E)do all of the activities listed.
Answer: E
Q2) Researchers at PPG Industries spent considerable time,effort,and money developing a bluish windshield that would let in filtered sunlight but block out the heat.Little market research was done,but the scientists were convinced this new product would be significantly better than existing windshields even though it was more expensive and of a different color than the current models on the market.This scenario suggests PPG most likely has a(n)_____ orientation.
A)exchange
B)production
C)sales
D)promotion
E)customer
Answer: B
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3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) In the General Electric model,SBUs that have low overall attractiveness should be avoided if the organization is not already serving them.
A)True
B)False
Answer: True
Q2) The manufacturer of Macho brand martial arts products was implementing a strategic plan when it sponsored a local karate tournament for teenagers.
A)True
B)False
Answer: False
Q3) The _____ answers the question,"What business are we in,and where are we going?"
A)mission statement
B)financial statement
C)situation analysis
D)market strategy
E)strategic plan
Answer: A
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Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) Some "green" products have an easily recognizable benefit to consumers and the environment.
A)True
B)False
Answer: True
Q2) Unfortunately,most businesspeople have not progressed beyond the self-centered and manipulative actions of preconventional morality.
A)True
B)False
Answer: False
Q3) The greater the number of persons affected by a negative outcome,the more likely it is that marketers will recognize a problem as unethical.
A)True
B)False
Answer: True
Q4) Sustainability refers to a business's concern for society's welfare.
A)True
B)False
Answer: False
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Chapter 4: The Marketing Environment
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Sample Questions
Q1) Online sales of apps should always be seen as a direct channel to consumers.
A)True
B)False
Q2) Merissa Champlain designs and sells clothes for young working women.Her marketing managers recently told her that she'll be in financial trouble unless she starts designing clothes suited to Gen Yers.Why is this?
A)Gen Yers are picky.
B)Gen Yers are more multicultural.
C)Baby boomers provide all of the disposable income for Gen Y members.
D)Demographically,Gen Yers are an extremely large group of consumers.
E)Gen Yers are easily swayed by traditional promotion media.
Q3) What Microsoft "jumped the gun" on in making it possible for users of its Windows
Phone 7 to play Angry Birds can best be described as __________.
A)intellectual theft,at least temporarily
B)an intermediary
C)a reseller
D)a wholesale distributor
E)a franchisee
Q4) Describe some basic characteristics of the African American market.
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) For most organizations,publicity is intended to win good will and manage crises.So why did the Boston Blazers public relations people on the field allow for such risky behavior?
A)The cultural context of a halftime show has changed from marching bands to entertainment that pushes the same boundaries other entertainment businesses do.
B)The role of cheerleaders has evolved beyond dance numbers and pom-poms-they can be bad girls along with the bad boys on the field.
C)The Duke lacrosse scandal added the cachet of sex to the sport and invites satire.
D)American sports reflects American society.
E)all of the above
Q2) While some countries have elements of both capitalism and socialism,most nations are at one political extreme or the other.
A)True
B)False
Q3) Describe the four stages of business globalization.Why do most companies stop when they reach the third stage?
Q4) Identify at least three negatives of global trade.
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) The way a consumer goes about addressing a need is called a:
A)need
B)tactic
C)stimulus
D)want
E)desire
Q2) Ranked from the lowest to the highest level,Maslow's hierarchy of needs model includes:
A)safety,esteem,social,physiological,and self-actualization needs
B)physiological,social,esteem,economic,and self-actualization needs
C)psychological,safety,economic,esteem,and social needs
D)physiological,safety,social,esteem,and self-actualization needs
E)safety,economic,social,esteem,and self-development needs
Q3) The most defining element of a culture is its:
A)customs
B)myths
C)language
D)laws
E)values
Q4) Compare and contrast beliefs and attitudes.
Page 8
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Chapter 7: Business Marketing
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Sample Questions
Q1) Organon Teknina sells inexpensive equipment to detect Escherichia coli,listeria,or salmonella bacteria in food.The company serves not-for-profit institutions that need to regularly check food quality.Organon Teknina would be LEAST likely to sell to:
A)The Montgomery County school system.
B)Cincinnati Children's Hospital.
C)Taco Bell.
D)A chain of church-sponsored retirement homes.
E)American Red Cross emergency shelter kitchens.
Q2) A professor sent the following memo to his department chair for his authorization:
Glen: I need to purchase a camera,Mac computer,and microphone for the selling center lab #2 just like we did for lab #1.This buying situation should be described as a:
A)make-or-buy.
B)value buy.
C)new buy.
D)modified rebuy.
E)straight rebuy.
Q3) What is a strategic alliance? How is it linked to relationship marketing?
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Page 9
Chapter 8: Segmenting and Targeting Markets
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217 Flashcards
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Sample Questions
Q1) The basic goal of one-to-one marketing is to:
A)increase the market for the product category to new and current customers.
B)eliminate the use of mass media for promotion and locate a direct communications channel.
C)increase operating costs and locate new customers.
D)reduce the number of company employees and increase overall sales.
E)reduce costs through customer retention and increase revenue through customer loyalty.
Q2) What is geodemographic segmentation? What is the result of geodemographic segmentation? Give one specific example that illustrates this type of segmentation.
Q3) What is one-to-one marketing,and what is the primary goal for companies that adopt the one-to-one approach? Describe the difference between a one-to-one marketing approach and the traditional approach to mass marketing.
Q4) Geodemographic segmentation combines geographic,demographic,and lifestyle segmentations.
A)True
B)False
Q5) What is product differentiation,and how can it be achieved?
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Chapter 9: Decision Support Systems and Marketing Research
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Sample Questions
Q1) Many people surveyed say they are environmentally conscious and favor green products even if they are more expensive than traditional products.Some marketers are worried that many people may not actually purchase green products.This concern is about the potential for what kind of sampling error?
A)Nonresponse
B)Frame
C)Random
D)Measurement
E)None of the choices apply
Q2) Trade groups,commercial publications,and government departments can be used as sources of:
A)secondary data
B)consensual information
C)primary data
D)artificial intelligence
E)marketing audits
Q3) The users of Marriott Mobile is immune from sampling errors.
A)True
B)False
Q4) List in order the seven steps of the marketing research process.
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Chapter 10: Product Concepts
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Sample Questions
Q1) The best generator of repeat sales is satisfied customers.
A)True
B)False
Q2) Products can be classified as either business/industrial or consumer products.Explain what distinguishes business products from consumer products and why it is important to understand this distinction.
Q3) Distinguish between manufacturer's brands and private brands.From the reseller's perspective,what are they key advantages of carrying each type of brand?
Q4) Changing one or more of a product's characteristics is called:
A)product modification.
B)product repositioning.
C)product adjustment.
D)planned obsolescence.
E)product extension.
Q5) Convenience products,though inexpensive,still require considerable shopping effort by buyers.
A)True
B)False
Q6) Compare and contrast an express warranty and an implied warranty.
Page 12
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Chapter 11: Developing and Managing Products
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173 Flashcards
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Sample Questions
Q1) Washing machines and refrigerators are in the _____ stage of the product life cycle.
A)maturity
B)growth
C)introductory
D)decline
E)development
Q2) Liz tends to adopt new products sooner than a lot of other people,but she weighs the pros and cons before buying.She does considerable product research,but her friends don't really look to her for information.She really deliberates before she makes a purchase.Liz is best described as a(n):
A)innovator
B)early adopter
C)early majority
D)late majority
E)laggard
Q3) List the seven steps of the new-product development process.
Q4) After successful business analysis of a new product,the development stage begins.Describe the development process and explain the difference between laboratory testing and use testing.
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Chapter 12: Services and Nonprofit Organization Marketing
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182 Flashcards
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Sample Questions
Q1) Which of the following services is an example of possession processing?
A)A theatrical performance
B)An x-ray of a broken bone
C)An advertising agency
D)Marriage counseling
E)Heating system repair
Q2) James recently went to a new health clinic because he had a sore throat that wouldn't go away.He was not familiar with this clinic and was a bit surprised when the doctor came in and was wearing blue jeans,a flannel shirt,and tennis shoes.The doctor and nurse took proper care of James,but it seemed strange to him that the doctor was dressed that way.Which component of service quality does this illustrate?
A)Reliability
B)Responsiveness
C)Assurance
D)Empathy
E)Tangibles
Q3) Discuss three issues relating to target markets that are unique to nonprofit organizations.Provide an example of each issue.
Q4) Name and briefly define the three categories of pricing objectives for services.
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Chapter 13: Marketing Channels
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157 Flashcards
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Sample Questions
Q1) Refer to R.H.Kurt & Son.Its marketing channel is composed of:
A)the distribution,objectives,strategies,and tactics used to move products from the manufacturer to the retailer
B)any organization that had a part in moving the product from the distributor to the retailer
C)the functions of transportation,storage,inventory control,materials handling,and order processing
D)the 41 different manufacturers,R.H.Kurt,the retailers it serves,and their customers
E)all organizations in the industry that make it possible for a consumer to buy his or her desired product
Q2) The Internet is quickly becoming an alternative channel for delivering services. A)True
B)False
Q3) Unlike marketers of physical products,marketers of services do not tend to address the question of logistics since services do not require a distribution strategy.
A)True
B)False
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Chapter 14: Supply Chain Management
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Sample Questions
Q1) Peachtree Windows does not make a window until an order is received.It can promise delivery in five working days because of the excellent relationships it has established with its suppliers.The partnering relationship that Peachtree Windows has established with its suppliers indicates the use of:
A)supply chain management
B)yield management
C)channel networks
D)horizontal marketing channels
E)intensive distribution strategy
Q2) Refer to Fishy Business.If all the firms involved with getting the fish from the ocean onto consumers' plates work together to perform tasks as a single unified system,which of the following are they using?
A)A synergistic approach
B)A systems approach
C)A primary approach
D)A networked approach
E)An interdependent approach
Q3) Describe contract logistics.How does contract logistics affect the efficient deployment of supply chain management?
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Page 16
Chapter 15: Retailing
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172 Flashcards
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Sample Questions
Q1) The two types of franchising are target market franchising and geographic franchising.
A)True
B)False
Q2) _____ refers to the techniques used to get consumers to buy from their home.Those techniques include direct mail,catalogs and mail-order,telemarketing,and electronic retailing.
A)Nonstore vending
B)In-home retailing
C)Franchising
D)Direct marketing
E)Direct retailing
Q3) _____ is the use of the telephone to sell directly to consumers.
A)Telemarketing
B)Two-way vending
C)Teleprompting
D)Indirect marketing
E)Phone vending
Q4) Compare and contrast supermarkets and convenience stores.Name several characteristics of each store in your answer.
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Chapter 16: Integrated Marketing Communications
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Sample Questions
Q1) Slatescape sells crushed slate to be used as a decorative,permanent mulch to keep weeds out of flower beds.Initially,Slatescape was marketed heavily to home owners,but after years of radio and television advertising,Slatescape has decided to put a majority of its promotion budget into personal selling and sales promotion to lawn and garden supply stores and large discount stores such as Walmart.This new strategy is a _____ strategy.
A)kinetic
B)push
C)pull
D)foot-in-the-door
E)reinforcement
Q2) Refer to Cable TV.The television advertising utilized by cable operators represents the means by which the company communicates to current users to influence an opinion or elicit a response.This is called:
A)distribution.
B)price.
C)research and development.
D)promotion.
E)publicity.
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Chapter 17: Advertising and Public Relations
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Sample Questions
Q1) A small high-tech company has just launched a new writing pen that has a memory,much like a small computer.The advertising campaign focuses on the innovativeness of the new product.This is an example of pioneering advertising.
A)True
B)False
Q2) The UPS Store's advertising "What Brown Can Do for You" whiteboard campaign tells business consumers that when it comes to getting their products delivered somewhere,UPS can help.The advertising is focusing on:
A)creating advertising appeal.
B)production implementation.
C)a product mission.
D)creating product loyalty.
E)a product benefit.
Q3) What is institutional advertising? How does advocacy advertising differ from institutional advertising?
Q4) Crisis management should begin before a crisis occurs.
A)True
B)False
Q5) Name and briefly define the two major types of advertising.
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Chapter 18: Sales Promotion and Personal Selling
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Sample Questions
Q1) Refer to Digital Cookware.Digital Cookware is offering retailers a price reduction for allocating space for special displays of its products.This type of trade sales promotion is called:
A)push money.
B)a trade allowance.
C)an event sponsorship.
D)a store demonstration.
E)a trade show.
Q2) All of the following are examples of trade sales promotions EXCEPT:
A)push money
B)store demonstrations
C)premiums and coupons
D)free merchandise
E)trade shows
Q3) What is sales promotion? What are the objectives of sales promotion?
Q4) Jayson typically negotiates the price with prospective customers because he knows price is the most effective negotiating tool when closing a sale.
A)True
B)False
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) One way a firm can gain pricing power is to:
A)produce something radically new and better than the competition.
B)lower prices at least 5% below the nearest competitor.
C)eliminate all poor producing products from manufacture and heavily promote the products that are left.
D)join forces with a competitor to corner the market on a product.
E)All of these strategies will help a firm gain pricing power.
Q2) At Walmart,Randi saw a bag of daffodil flower bulbs and a box of plant fertilizer.The items,which were sold together,retailed at $28.50 but were marked down to $19.99.The retailer sold one at the $28.50 price and five at the $19.99 price.The retailer's revenue is:
A)$8.51
B)$19.99
C)$28.50
D)$128.45
E)$171.00
Q3) Market share is a company's product sales as a percentage of its total sales for that industry.
A)True
B)False
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Page 21
Chapter 20: Setting the Right Price
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Sample Questions
Q1) Rebates involve a cash refund for the purchase of a product during a specific period.
A)True
B)False
Q2) Why is price lining a valuable tactic for marketing managers?
A)Price lining results in a greater inventory carrying charge.
B)It reduces confusion for its customers.
C)A company that uses price lining has more price markdowns and greater markup.
D)The price lining strategy allows the company to gain brand loyalty from its targeted segments.
E)Price lining tends to confuse customers and requires them to listen closely to the salesperson's pitch.
Q3) List in order the four steps used to set the right price for a product.
Q4) With value-based pricing:
A)the firm is sales driven.
B)the firm is both customer driven and competitor driven.
C)increased profitability for wholesalers will increase the number of services they are willing to perform.
D)consumers are more concerned about price than quality.
E)additional long-term costs to manufacturers will increase.
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Chapter 21: Customer Relationship Management Crm
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Sample Questions
Q1) Through campaign management,all areas of the company participate in the development of programs targeted to customers.
A)True
B)False
Q2) A(n)_____ is the point at which a customer and a company representative exchange information and develop learning relationships.
A)social contact
B)interaction
C)empowering moment
D)equilibrium point
E)transactional dyad
Q3) A(n)_____ list generally includes names and addresses gleaned from directories or membership rosters.
A)predictive
B)compiled
C)response
D)actionable
E)disintegrated
Q4) Briefly describe five of the many common CRM marketing database applications.
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Chapter 22: Social Media and Marketing
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Sample Questions
Q1) Customers and business owners can do all of the following on the Yelp Web site
EXCEPT:
A)business owners can set their pages to block negative reviews.
B)customers can write about bad experiences they've had at local businesses.
C)business owners can edit their organizations' pages.
D)customers can read about what others think about particular businesses.
E)business owners can respond directly to customers who have written reviews.
Q2) Marla is a 55-year-old woman who wants to use a social network site to stay in touch with her son,who is away at college.She also hopes to make contact with some old high school friends.Which of the following is Marla most likely to use for this purpose?
A)MySpace
B)YouTube
C)Facebook
D)Bebo
E)Flickr
Q3) Compare the demographics of a typical game player within a social networking site such as Facebook with those of a typical player of massive multiplayer online games such as World of Warcraft.
Q4) What is a podcast? How are they used?
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