Marketing Essentials Exam
Review
Course Introduction
Marketing Essentials introduces students to the fundamental principles and practices of marketing in contemporary business environments. The course covers key concepts such as market research, consumer behavior, segmentation, targeting, positioning, and the marketing mix (product, price, place, promotion). Through real-world case studies and practical examples, students learn how organizations identify customer needs, develop effective marketing strategies, and create value for both customers and stakeholders. The course also explores the impact of digital technology on marketing, ethical considerations, and the role of marketing in a global context, equipping students with the foundational knowledge necessary for further study or a career in marketing.
Recommended Textbook
MKTG 2nd Edition Canadian by Charles W. Lamb
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20 Chapters
3306 Verified Questions
3306 Flashcards
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Chapter 1: An Overview of Marketing
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Sample Questions
Q1) Which orientation assumes people will buy more if aggressive selling techniques are used?
A)market
B)sales
C)customer
D)production
Answer: B
Q2) Which of the following is a key ingredient in the philosophy of marketing that occurs when people give up something in order to receive something that they would rather have?
A)exchange
B)synergy
C)leverage
D)reciprocity
Answer: A
Q3) Both production and sales orientations are focused inward on the organization's needs.
A)True
B)False
Answer: True
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Chapter 2: The Marketing Environment, social Responsibility, and Ethics
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152 Flashcards
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Sample Questions
Q1) What is environmental scanning? Give an example of an opportunity and a threat that environmental scanning might identify for a suntan lotion company.
Answer: Environmental scanning occurs when a company creates a team of specialists to collect and evaluate environmental information.This process allows marketing managers to understand the external environment so that plans for the future can be made.The objective of gathering environmental data is to identify future market opportunities and threats.
Threats that might be identified for a suntan lotion company include fear of skin cancer by sunbathers,other health concerns,or lack of leisure time to spend in the sun.Opportunities might include the need for sun-blockers,waterproof formulas,or children's skin protection products.Another opportunity might be the status element associated with a tan.
Q2) Multiculturalism occurs when all major ethnic groups in an area are roughly equally represented.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) The marketing mix refers to a unique blend of marketing variables known as the four Ps.Name and briefly describe each of the 4 Ps.
Answer: Product: The firm's product offerings are the heart of the marketing mix.The Product P includes product development,production assistance,packaging,warranties,servicing,branding,company image,and other components in addition to the physical unit.
Place (or distribution): Distribution strategies make products available when and where customers want them.Products move through a channel of distribution that may include wholesalers and retailers.Physical distribution (stocking and transportation logistics)is also part of the Place P.
Promotion: Promotion includes personal selling,advertising,sales promotion,and public relations.Promotion serves to inform,educate,persuade,and remind target markets about product benefits.
Price: Price strategies are an important competitive weapon.Pricing is an important component of the marketing mix because it is flexible and allows revenue to be estimated and measured.
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Chapter 4: Decision Support Systems and Marketing Research
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Sample Questions
Q1) Which type of sampling error is created when the sample actually interviewed differs from the sample drawn?
A)random error
B)diagnostic error
C)nonresponse error
D)nonprobability error
Q2) What is the first step in the marketing research process?
A)specify the sampling plan
B)collect the data
C)identify and formulate the problem/opportunity to be studied
D)plan the research design
Q3) Which type of error occurs because the selected sample is an imperfect representation of the overall population?
A)frame
B)field
C)measurement
D)random
Q4) What are three advantages and three disadvantages inherent in the use of a mail survey? Distinguish between a mail survey and a mail panel.
Page 6
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Chapter 5: Consumer Decision Making
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Sample Questions
Q1) Refer to New Car Purchase.Zena's visits to the dealers and to the library best represent which step of the consumer decision-making process?
A)need recognition
B)information search
C)evaluation of alternatives
D)stimulus
Q2) Assume you have decided to purchase a new flat-screen television with surround sound.Describe your internal information search.Then name the two types of external information sources.For each source,give two specific examples of information sources you might use.
Q3) Refer to Daycare.What is the term for Fiona's uncertainty about whether she made the correct decision and the feelings that go along with this uncertainty?
A)selective retention
B)perceptual distortion
C)postpurchase action
D)cognitive dissonance
Q4) List and briefly describe the five different roles various family members can play to influence the purchase decision-making process for a new houseboat.
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Chapter 6: Business Marketing
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Sample Questions
Q1) One useful aspect of the North American Industry Classification System (NAICS)is that it helps organizations identify potential new customers.
A)True
B)False
Q2) Improved customer loyalty was developed by United Airlines through a strategic alliance with Starbucks.Onboard its planes,United now serves Starbucks gourmet coffee in cups that bear the logos of both companies.
A)True
B)False
Q3) Explain the four ways demand in business markets differs from demand in consumer markets.
Q4) Describe the reseller market.Why do businesses use the services of business product distributors?
Q5) Shimano sells the fishing and golfing equipment it manufactures to sporting goods stores,which in turn sell the equipment to anglers and golfers.Shimano is engaged in business marketing.
A)True
B)False
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Chapter 7: Segmenting, targeting, and Positioning
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Sample Questions
Q1) Festive Holiday Truffles is a small confectionary company.Its owner has been heard to say she engages in mass marketing.Marketers would call her strategy an undifferentiated targeting strategy.
A)True
B)False
Q2) Manufacturers of instant potato flakes sell to resellers,institutional food services,and movie production companies.(Instant potato flakes are typically used in movies when the scene calls for falling snow. )How would manufacturers of instant potato flakes most likely segment their market?
A)by company characteristics
B)by the buying process
C)by financial terms
D)by customer relationship objectives
Q3) With multisegment targeting,a company could benefit from which of the following?
A)greater sales volume.
B)greater product design and management cost.
C)stable profits.
D)larger total market.
Q4) The business market consists of four broad segments.What are these segments?
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Chapter 8: Customer Relationship Management CRM
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Sample Questions
Q1) Transactions can provide all types of information about the customer's past purchases.
A)True
B)False
Q2) When viewed as an interaction between the organization and the customer,a transaction can produce all of the following customer data EXCEPT which of the following?
A)information about the customer's relationship with other customers.
B)past purchase history.
C)information about the customer's relationship with the organization.
D)average amount spent on purchases.
Q3) Future Shop uses CRM to track visitors to its website.This tracking allows the retailer to confidently project the value of its repeat customers through its application of which of the following?
A)customer segmentation.
B)customer valuation
C)data manipulation
D)lifetime value analysis
Q4) What is a touch point? Give two examples of touch points.
Q5) Briefly describe six common CRM marketing database applications.
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Chapter 9: Product Concepts
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Sample Questions
Q1) The Bay a large retailer,offers a written satisfaction guarantee on all merchandise it sells.In other words,which type of warranty does The Bay give its customers?
A)implied
B)descriptive
C)limited
D)express
Q2) While Allison was showing her new infant son to friends of her grandmother,the baby needed a diaper change,and she had brought none with her.She normally uses eco-friendly Seventh Generation brand diapers but settled for Pampers brand diaper because that was the only brand stocked at the small local grocery store.For Allison,which type of product is the recent diaper purchase?
A)shopping product
B)impulse product
C)convenience product
D)specialty product
Q3) Organizations derive several benefits from organizing related product items into product lines.Briefly describe four of these benefits.
Q4) Name and briefly describe six branding alternative strategies.
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11
Chapter 10: Developing and Managing Products
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Sample Questions
Q1) Refer to Jabra Corporation.When the Jabra 1000 was first launched,it most likely appealed to which product adopter category?
A)early adopter
B)early majority
C)late majority
D)innovators
Q2) The multiple-step new-product development process is an essential ingredient in new-product development.List the seven steps of this process.
Q3) Which of the following is NOT a likely source for new-product ideas?
A)customers
B)employees
C)financial lenders
D)competitors
Q4) Which of the following products has the lowest level of trialability?
A)low-fat ice cream
B)surgically implanted hearing aids
C)organic pet food
D)a new air freshener
Q5) Name and describe four categories of new products.
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Chapter 11: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) Services are consider intangible because most services cannot be felt or touched in the same way most goods can be sensed.
A)True
B)False
Q2) Which of the following best describes a target market for a nonprofit organization?
A)it needs to be defined as the "community" in general in order to reach all potential targets.
B)it may include many apathetic or strongly opposed targets.
C)it is best defined geographically,to include the area served.
D)is best defined as the potential donors because their funds will ensure the survival of the organization.
Q3) Refer to the Rejection Hotline.In terms of a product strategy,what is the Rejection Hotline's telephone message?
A)its intangible product
B)its core product
C)its relationship marketing tool
D)its promotion strategy
Q4) Name and briefly define the three categories of pricing objectives for services.
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13
Chapter 12: Marketing Channels and Supply Chain Management
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Sample Questions
Q1) Exclusive distribution is the most restrictive form of market coverage.
A)True
B)False
Q2) Ontario Natural Food is a grocery wholesale cooperative,it provides all kinds of meats,cereals,canned and fresh fruits and vegetables,beauty aids,healthcare items,and pet products to the supermarkets in its channel.What is Ontario Natural Food overcoming to aid its customers?
A)spatial discrepancy
B)discrepancy of quantity
C)discrepancy of assortment
D)demand discrepancies
Q3) When Delphi-Grundig,a manufacturer of state-of-the-art car radios,decided to expand its marketing efforts into countries in which its products are not currently available,it did not have the time or resources to spend on developing new channels of distribution.What should Delphi-Grundig consider using?
A)an industrial distributor
B)a franchising system
C)a strategic channel alliance
D)a channel cooperative
Page 14
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Chapter 13: Retailing
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Sample Questions
Q1) A manufacturer wants to introduce a line of hand-smocked children's clothing to the growing number of professional women who are now having babies.The least expensive of these outfits will be $75.Which of the following types of stores would most likely support an effective product launch?
A)an off-price retailer
B)a specialty store
C)a full-discount store
D)a warehouse club
Q2) Real Canadian Superstore is a chain of retail outlets in Canada that are described as large,departmentalized,self-service stores that specialize in wide assortments of foodstuffs and limited nonfood items.Real Canadian Superstores would be classified as which of the following?
A)off-price retailers
B)discount stores
C)wholesale clubs
D)supermarkets
Q3) Discount stores are retail chains that compete on the basis of low prices,high turnover,and high volume.Name and briefly describe four types of discounters,and give an example of each type.
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Page 15
Chapter 14: Integrated Marketing Communication
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Sample Questions
Q1) What is promotion? Why is it a vital part of a company's marketing mix?
Q2) Point-of-purchase displays in grocery stores,coupons,premiums,and trial-size packages are most useful when the consumer is near which stage of the AIDA model?
A)liking
B)awareness
C)action
D)knowledge
Q3) Which of the following statements best describes the characteristics of the elements in the promotional mix?
A)The speed of feedback is delayed in sales promotion,advertising,and personal selling.
B)Message flexibility is greatest with advertising.
C)The message flow is two-way in public relations,sales promotions,and personal selling.
D)The most feedback is available with personal selling.
Q4) Several factors inherent to the product itself influence the promotional mix.Name and briefly describe three of these factors.
Q5) Several factors affect the choice of promotional mix.Name five of these factors.
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Page 16
Chapter 15: Advertising, public Relations, and Direct Response
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Sample Questions
Q1) Name five major advertising media.List two advantages and two disadvantages associated with the use of each of these media.
Q2) In advertising,the goal is to sell the product's benefits,not which of the following?
A)attributes
B)appeals
C)traits
D)virtues
Q3) Advertisers are often concerned with the noise level in a medium.Which medium is assumed to have the lowest noise level?
A)television
B)direct mail
C)newspaper
D)magazines
Q4) What is public relations? What is publicity?
Q5) The sponsorship of a racing team in the Tour de France bicycle race is an example of a public relations activity.
A)True
B)False
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Chapter 16: Social Media and Marketing
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Sample
Questions
Q1) Amy and Willis work in the marketing department of a medium-sized clothing retailer.They are interested in keeping track of the number of mentions their brand receives in social space,but they are unsure of which steps to take next.Which of the following resources would best meet their needs?
A)a listening platform with key word report capabilities
B)an insight platform that offers online focus group solutions
C)web analytics software
D)an advanced customer database with predictive application
Q2) Malik hopes to use social media to find some new customers for his bicycle shop.Technorati and Tweetdeck would be good tools for this purpose.
A)True
B)False
Q3) What can much of the growth in social media sites be attributed to?
A)word-of-mouth promotion
B)new platforms such as iPads and Smartphones
C)new technology uses for social media
D)the proliferation of new websites such asFlickr and Reddit
Q4) Identify the two broad categories of blogs.Which is generally perceived to be more authentic? Why?
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Chapter 17: Sales Promotion and Personal Selling
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Sample Questions
Q1) Salespeople ensure that delivery schedules are met,that the good or service performs as promised,and that buyers are trained in the use of the product.All of these functions are part of the final step in the selling process.What is that step called?
A)closing
B)lead qualification
C)follow-up
D)the sales presentation
Q2) Josh Moran is in charge of finding sponsors for the 2007 Reno Rodeo.He is currently talking to a marketing representative from Wrangler jeans to try to convince Wrangler to sponsor the event.Moran is engaged in personal selling.
A)True
B)False
Q3) Which process describes the homework that must be done by a salesperson before he or she contacts a prospect?
A)pre-sales dialogue
B)preapproach
C)closing preamble
D)sale profiling procedure
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Chapter 18: Pricing Concepts
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Sample Questions
Q1) Refer to American Girl Doll.You can buy a doll at Walmart for $5.99.The high price of the American Girl doll is used to promote a high-quality image.Which type of pricing strategy does The American Girl use?
A)markup
B)demand based
C)prestige
D)penetration
Q2) Which of the following occurs when an increase in sales exactly offsets a decrease in price so that total revenue remains exactly the same?
A)inelastic demand
B)functional elasticity of demand
C)unitary elasticity
D)highly elastic demand
Q3) Refer to Bill Needles.What is his fixed cost contribution per buckle?
A)$45
B)$80
C)$88.89
D)$170
Q4) What is price?
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Chapter 19: Setting the Right Price
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Sample
Questions
Q1) Teresa and Debbie have decided to keep their new power boat in a "drystack" storage facility rather than in the water at a marina.The storage facility charges them a fee of $500 per year,plus $25 each time they call ahead and ask the facility to put their boat in the water for the day or weekend.Which pricing tactic is the facility using?
A)multiple unit pricing
B)price lining
C)price bundling
D)two-part pricing
Q2) What is marketing two or more products in a single package for a special price known as?
A)price bundling
B)two-part bundling
C)psychological pricing
D)family pricing
Q3) When does a penetration pricing strategy tend to be most effective?
A)when demand is relatively inelastic
B)in price-sensitive markets
C)when the company can perform only small production runs
D)if unit costs are high
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21
Chapter 20: Developing a Global Vision
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Sample Questions
Q1) Briefly define exchange controls and trade agreements.Make sure that your answer demonstrates how the two terms differ from each other.
Q2) When developing countries began encouraging foreign investors and imports,companies like Black & Decker and Pillsbury offered a wide array of products to countries throughout the world.Because of enormous populations in developing countries,these companies predicted a potential for strong annual sales.However,in addition to total population and factors such as distribution of people within a country and household incomes,companies must not overlook which of the following factor?
A)demographic
B)political
C)cultural
D)educational
Q3) The pricing component of the global marketing mix is which of these?
A)the same in domestic and foreign markets
B)fairly simplistic due to the strength of the U.S.dollar abroad
C)the easiest element to implement successfully
D)a complex matter due to tariffs,exchange rates,and government regulations
Q4) Describe a multinational corporation (MNC).Name two MNCs you are familiar with.
Q5) Why is developing a global vision important for firms in Canada?
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