Marketing for Managers
Mock Exam
Course Introduction
Marketing for Managers is designed to equip future business leaders with a comprehensive understanding of marketing principles and their practical applications in managerial decision-making. The course covers core topics such as market analysis, segmentation, targeting and positioning, consumer behavior, product development, pricing strategies, distribution channels, and integrated marketing communications.
Emphasizing real-world case studies and strategic frameworks, students learn to develop marketing plans, interpret market research data, and assess the effectiveness of various marketing tactics. By the end of the course, participants will be able to make informed marketing decisions that align with organizational objectives and respond effectively to dynamic market environments.
Recommended Textbook
Marketing The Core 7th Edition by Roger A. Kerin
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Chapter 1: Creating Customer Relationships and Value
Through Marketing
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Sample Questions
Q1) The marketing mix refers to
A) the multiple sales and advertising strategies that can be used to promote a product.
B) the dynamic forces-social, economic, technological, competitive, and regulatory-to which a marketing manager must constantly adapt.
C) the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online.
D) the marketing manager's controllable factors that can be used to solve marketing problems.
E) a set of complementary products that when sold together generate more sales than when sold separately.
Answer: D
Q2) Define the marketing concept.
Answer: The marketing concept is the idea that an organization should (1)strive to satisfy the needs of consumers (2)while also trying to achieve the organization's goals.
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Chapter 2: Developing Successful Organizational and Marketing Strategies
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Q1) The planning gap refers to
A) the difference between projected total costs and realized total revenues.
B) the difference between projected total costs and net profits.
C) the difference between marginal revenue and marginal cost.
D) the percentage point difference between a firm and its next largest competitor in terms of market share.
E) the difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place.
Answer: E
Q2) Market share is the ratio of sales revenue of the firm to the total sales revenue of all __________,including the firm itself.
A) firms in the industry
B) firms in the competitive set
C) firms in the WTO
D) product groupings
E) domestic firms in a country
Answer: A
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Chapter 3: Understanding the Marketing
Environment,ethical Behavior,and Social Responsibility
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Q1) Which one of the following statements most accurately distinguishes between laws and ethics?
A) Laws reflect the beliefs of the majority of society while ethics reflect the beliefs of the minority of society.
B) Ethics deal with religious and moral beliefs while laws deal with social, economic, and environmental behaviors.
C) Ethics deal with internal (personal) issues while laws deal with external (social) issues.
D) There is no significant difference between laws and ethics; these terms can be used interchangeably.
E) Ethics deal with personal moral principles and values whereas laws are society's values and standards that are enforceable in the courts.
Answer: E
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Chapter 4: Understanding Consumer Behavior
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Questions
Q1) In the Maslow hierarchy of needs,the most basic needs are physiological,followed by safety,social,and personal.What category of needs is at the highest level?
A) intellectual needs
B) emotional needs
C) self-actualization needs
D) religious needs
E) psychological needs
Q2) A major shift in the needs of consumers using Coppertone products for their skin has been from ________ to ________.
A) moisturizing; anti-aging
B) sealing; exfoliating
C) healing; maintenance
D) tanning; protection
E) simplicity; convenience
Q3) The VALS system seeks to explain why and how consumers make purchase decisions.Consumers motivated by ideals are guided by knowledge and principle.Explain the difference between Thinkers and Believers.
Q4) Explain how attitudes are shaped by our values and beliefs.
Q5) Why is the family life cycle important to marketing?
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Chapter 5: Understanding Organizations As Customers
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Q1) Business-to-business marketing refers to
A) the marketing of goods to companies, governments, or ultimate consumers for use in the creation of goods and services.
B) the marketing of products to not-for-profit organizations at a reduced fee or nominal cost for use in the creation of goods and services that they can produce and market to others.
C) the marketing of products and services to companies, governments, or not-for-profit organizations for use in the creation of products that they can produce and market to others.
D) the marketing of services in the area of intellectual property such as legal, financial, or creative consulting.
E) the marketing of an idea to create interest or generate goodwill, not just for an individual brand but also for an entire industry or product class.
Q2) Identify and describe the five roles an individual can play in a buying center.
Q3) Explain the differences between independent e-marketplaces and private exchanges.
Q4) What is the North American Industry Classification System (NAICS)?
Q5) What are the characteristics of organizational buying behavior?
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Chapter 6: Understanding and Reaching Global
Consumers and Markets
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Q1) What type of exporting has the least amount of commitment and risk but will probably return the least profit?
A) direct
B) indirect
C) licensing
D) joint
E) unilateral
Q2) Recently,the Japanese government,under pressure from its domestic farm lobby,slapped government taxes on mushrooms,leeks,and the reeds used in tatami mats that were being imported from China.These taxes Japan levied are referred to as A) WTO taxes.
B) quotas.
C) tariffs.
D) excise taxes.
E) subsidies.
Q3) Describe the World Trade Organization (WTO)and its purpose.
Q4) Identify and describe the factors a company should consider in order to do a thorough cross-cultural analysis.In your answer,define cross-cultural analysis.
Page 8
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Chapter 7: Marketing Research: From Customer Insights to Actions
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Q1) DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims.It wants to introduce its product into new markets,but before it does so,it wants to predict how successful its sales efforts will be.The marketing research firm hired to conduct the research study has six months to gather,analyze,and present its data to DirectProtect.The required time frame is an example of
A) a dependent variable.
B) an obstruction.
C) an objective.
D) a constraint.
E) an independent variable.
Q2) What type of experiment is conducted when a food company offers a product for sale in a small geographic area to help it evaluate potential marketing actions?
A) micro market
B) trail market
C) experimental market
D) simulated market
E) test market
Q3) What is data mining and why is it used in marketing research?
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Chapter 8: Market Segmentation, targeting, and Positioning
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Q1) Many companies have cut travel budgets so that very few businesspeople are authorized to fly first class.Despite the shrinking pool of business-class travelers,British Airways has grown market share for its trans-Atlantic business class by offering greater comfort.Promotions to frequent fliers stress that passengers can sleep in fully reclining seats and arrive refreshed to carry out a full day's schedule.The segmentation strategy of British Airways is an example of
A) life stage segmentation.
B) geographic segmentation.
C) social class segmentation.
D) behavioral segmentation.
E) psychographic segmentation.
Q2) What are the criteria used to select target markets?
Q3) Figure 8-8 is a depiction of a __________ for beverages in the minds of adults.
A) hierarchy of needs
B) perceptual map
C) marketing matrix
D) growth-share matrix
E) perception matrix
Q4) What are the three types of data needed from consumers to develop a perceptual map?
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Chapter 9: Developing New Products and Services
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Q1) Distribution is very limited and brand status is stressed in promoting which of the following consumer product types?
A) shopping product
B) convenience product
C) discretionary product
D) prepurchase product
E) specialty product
Q2) Which of the following would most likely be considered a consumer product?
A) auto lift
B) cotton fiber
C) printing press
D) suitcase
E) bricks
Q3) There are seven stages of the new-product development process.The last stage is A) business analysis.
B) screening and evaluation.
C) market testing.
D) commercialization.
E) development.
Q4) Describe the three ways services can be classified.
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Chapter 10: Managing Successful Products, services, and Brands
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Q1) Promotional expenditures at the introduction stage of the product life cycle are best spent on
A) contests and sweepstakes to stimulate selective demand.
B) product samples to create secondary demand.
C) advertising to stimulate primary demand.
D) personal endorsements to generate word-of-mouth demand.
E) coupons to maintain brand loyalty or static demand.
Q2) DiGiorno rising crust pizza has been available in the freezer sections of supermarkets for quite a while.The product's recent introduction of a DiGiorno cheese-stuffed crust to its line of pizzas is an example of
A) a market-product grid.
B) diversification.
C) market modification.
D) product class extension.
E) product modification.
Q3) What role do people play in the managing of services?
In answering the question,discuss the concept of customer experience management (CEM).
Q4) Describe a brand name and explain how it benefits a consumer.
Q5) Compare the three ways to manage a product through its product life cycle.
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Chapter 11: Pricing Products and Services
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Q1) Creative marketers engage in value-pricing,which is the practice of simultaneously __________ while maintaining or decreasing price.
A) promoting specific product and service benefits
B) increasing product and service benefits
C) decreasing profit
D) analyzing benefits
E) decreasing cost
Q2) A construction company was offered a 3 percent reduction in price off all invoices from a lumberyard for paying within 10 days of issue.The lumberyard was offering a
A) trade discount.
B) cash discount.
C) promotional allowance.
D) rebate.
E) flexible price.
Q3) What is the difference between fixed costs and variable costs?
Q4) What are the four kinds of discounts that are especially important in marketing pricing strategy?
Q5) Distinguish between elastic demand and inelastic demand.
Q6) What is loss-leader pricing and why do retailers use it?
Page 13
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Chapter 12: Managing Marketing Channels and Supply Chains
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Q1) A textile artist can buy fabric,thread,and batting,create an heirloom quilt,and then sell the finished work to customers in a kiosk decorated with some of the quilts produced to entice customers who shop at the local mall.By designing the quilts and kiosk with aesthetic value,the artist creates __________ utility.
A) application
B) possession
C) time
D) place
E) form
Q2) Ford uses __________,whereby the company licenses dealers in North America to sell Ford automobiles subject to various sales and service conditions.
A) a service-sponsored producer franchise system
B) a service-sponsored retail franchise system
C) a manufacturer-sponsored wholesale franchise system
D) a manufacturer-sponsored retail franchise system
E) an administered vertical marketing system
Q3) List and define the three major types of vertical marketing systems.
Q4) What are the functions performed by intermediaries?
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Q5) What are some specific cost trade-offs that can be made in a logistics system?
Chapter 13: Retailing and Wholesaling
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Q1) Mike's Camera is a retailer that carries a full line of professional and amateur cameras,develops and/or prints all types of film and digital photos,and even sells darkroom equipment.Mike's Camera is an example of
A) a hypermarket.
B) a general merchandise store.
C) a scrambled merchandise store.
D) an intertype outlet.
E) a specialty outlet.
Q2) Which form of retail outlet would most likely offer customers convenience,quality personal service,and lifestyle compatibility?
A) corporate chain
B) independent retailer
C) administered system
D) contractual system
E) sole incorporation
Q3) Explain the difference between a markup,an original markup,and a maintained markup.
Q4) List the four store locations or settings.How has the location of stores changed over the years?
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Chapter 14: Integrated Marketing Communications and Direct Marketing
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Q1) Albert Searchware is a type of search engine used at company websites to handle customer questions.The firm is trying to determine what promotional strategy should be employed with its flagship product.It has determined that search engine software is in the growth stage of its product life cycle.Which of the following options should it employ?
A) devote 40 percent of the promotional budget to a sales promotion that supplies the public with demonstration CDs to prove the merits of its software
B) spend 30 percent of the budget in the effort to generate publicity for its software
C) use the majority of its promotional budget on advertising that focuses on brand differences
D) use a balanced budget and spend equally for each of the four promotional choices in an attempt to even out sales growth
E) encourage its tech support staff to emphasize the superiority of its software and its after-sale support
Q2) Explain what the hierarchy of effects is.List and explain the five stages.
Q3) What are the strengths/advantages and weaknesses/disadvantages of using personal selling in the promotional mix?
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Chapter 15: Advertising, sales Promotion, and Public Relations
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Q1) The most popular loyalty programs today are __________ reward programs.
A) fast-food
B) airline travel
C) hotel accommodations
D) credit card
E) grocery store items
Q2) A Levi's ad features the introduction of the company's new Levi's 501 CT jeans.What type of product advertisement is this ad?
A) reminder
B) pioneering
C) reinforcement
D) comparative
E) competitive
Q3) Most advertising messages are made up of both informational and persuasive elements.These two elements can be combined in the form of an appeal to provide a basic reason for the consumer to act.Briefly describe the three appeals.
Q4) What is a product placement?
Give an example.
Page 17
Q5) What is the difference between a contest and sweepstakes?
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Chapter 16: Using Social Media and Mobile Marketing to
Connect With Consumers
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Q1) Cost per click is a measure in which
A) a fixed amount of money is paid to the site for every visitor who clicks on an ad and then jumps from that page to the advertiser's website.
B) a fixed amount of money is paid to the site for every sale that originated from an ad posted on that site.
C) a fixed amount of money is paid to a site for posting an ad for a finite amount of time.
D) a fixed amount of money is paid for every 1,000 times an ad loads, up to $100 a month.
E) a fixed discount is given to a visitor for clicking on an ad.
Q2) StuffDOT's vision is to
A) compete directly with online sites such as Macy's online store.
B) wage a battle for niceness by addressing bullying being faced by young girls.
C) use the affiliate fees and commissions to grow its business.
D) reward users for what they are already doing online.
E) share images of favorite things by women for other women.
Q3) Describe the communications process of both traditional media and social media.
Q4) What are apps and what significance do they have with respect to convergence?
Q5) What are the main ways brand managers can use Twitter?
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Chapter 17: Personal Selling and Sales Management
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Q1) It is estimated that the average cost of a single field sales call on a business customer is about __________,factoring in salespeople compensation,benefits,and travel-and-entertainment expenses.
A) $150
B) $250
C) $300
D) $400
E) $500
Q2) Procter & Gamble uses teams of marketing,sales,advertising,computer systems,and supply chain personnel to work with its major retailers,such as Walmart,to identify ways to develop,promote,and deliver products.This type of sales approach is called
A) partnership selling.
B) missionary selling.
C) order taking.
D) team selling.
E) formula selling.
Q3) In the context of a salesperson's position,explain what a job description is.In the answer,specify the six attributes that it purports to explain.
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Chapter 18: Implementing Interactive and Multichannel Marketing
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Q1) Seven Cycles' tagline,"One Bike.Yours." reflects the company's
A) reputation for customized detailing of the finest motorcycles in competitive racing.
B) commitment to incorporating individual customer input for every single bike.
C) unique antitheft electronic GPS tracer built into every frame.
D) creativity promise, guaranteeing that the color (paint job) is completely unique for each touring bike it makes.
E) "one product-one market" segmentation strategy, in which all bikes are exactly alike.
Q2) Pizza Hut's most frequent customers divide into two categories: (1)__________ and (2)young adult males with active lifestyles.
A) people returning home from work
B) families, primarily time-starved mothers
C) college students living on campus
D) men who watch sports on weekends
E) high school students on dates
Q3) List the six reasons consumers shop and buy online.Name a reason some may be hesitant.
Q4) Define and explain the importance of the eight-second rule.
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Chapter 19: Building an Effective Marketing Plan
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Q1) To translate its core competencies into a sustainable competitive advantage,Paradise Kitchens will work closely with key
A) lenders and venture capitalists.
B) suppliers and distributors.
C) advertising agencies and public relations firms.
D) federal and state regulators to import tariff free ingredients.
E) Hispanic spokespeople to get the word out.
Q2) There is no single generic marketing plan that can apply to all organizations or all institutions.Rather,the specific format for a marketing plan for an organization depends on the following: the target audience and purpose,the kind and complexity of the organization,and
A) the financial investment needed.
B) the time frame.
C) available resources.
D) the industry.
E) the competition.
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