Marketing Foundations
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Course Introduction
Marketing Foundations introduces the fundamental principles and practices of marketing in both domestic and global contexts. Students will explore core concepts such as market segmentation, targeting, positioning, the marketing mix (product, price, place, promotion), and consumer behavior. The course examines the role of marketing in creating value for customers and organizations, while also highlighting ethical considerations and the impact of digital technologies. Through case studies and practical examples, students will develop a comprehensive understanding of how marketing strategies are formulated, implemented, and evaluated across diverse industries.
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MKTG 9 9th Edition by Charles W. Lamb
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Page 2
Chapter 1: An Overview of Marketing
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Q1) The societal marketing orientation extends the marketing concept by acknowledging that some products that customers want may not really be in their best interests or the best interests of society as a whole.
A)True
B)False Answer: True
Q2) A market-oriented organization targets its products at "everybody" or "the average customer."
A)True
B)False Answer: False
Q3) A company that sets its goals and strategies based on what its current equipment can manufacture,what its engineering can design,and what the company itself can do best has a(n)_____orientation.
A)marketplace
B)sales
C)exchange
D)production
Answer: D
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Page 3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) In the context of marketing planning,_____ provides the mechanisms for evaluating marketing results in light of the plan's objectives,and for correcting actions that do not help the organization reach those objectives within budget guidelines.
A)implementation
B)control
C)environmental scanning
D)marketing myopia
Answer: B
Q2) Discuss the product development strategy.
Answer: A product development strategy entails the creation of new products for present markets.In January 2014,Beats Electronics launched Beats Music- a subscription-based streaming music service that offers advanced personalization systems and forward-thinking family sharing plans.Beats hopes this service's novel features,sleek design,and celebrity endorsements will catapult it to the front of the music streaming pack,which is currently fronted by competitors such as Spotify and Rdio.
Q3) A distinguishing feature of the product/service differentiation competitive advantage is__________.
Answer: having a strong brand image
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Chapter 3: Ethics and Social Responsibility
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Q1) Describe the pyramid of corporate social responsibility and include a description of its components.
Answer: The pyramid of corporate social responsibility portrays four kinds of responsibility: economic,legal,ethical,and philanthropic.Economic performance is the foundation for the structure,because if the company does not make a profit,then the other three responsibilities are moot.While maintaining a profit,business is expected to obey the law,do what is ethically right,and be a good corporate citizen.(1)Philanthropic responsibilities are to be a good corporate citizen,contribute resources to the community,and improve the quality of life.(2)Ethical responsibilities are to be ethical;to do what is right,just,and fair;and to avoid harm.(3)Legal responsibilities are to obey the law,which is society's codification of right and wrong,and play by the rules of the game.(4)Economic responsibilities are to be profitable;because profit is the foundation on which all other responsibilities rest.
Q2) Which of the following is a disadvantage of cause-related marketing?
A)It does not increase the sale of products.
B)It can lead to customer fatigue.
C)It results in immediate losses for the company.
D)It requires corporations to use anti-competitive measures.
Answer: B
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Page 5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) While computing purchasing power,a cost of living index takes into account housing,food and groceries,transportation,utilities,health care,and miscellaneous expenses.
A)True
B)False
Q2) The Federal Trade Commission's Bureau of Competition _____.
A)promotes restraint of trade among business firms
B)encourages monopolization and agreements between competitors
C)promotes anti-competitive strategies
D)seeks out and challenges anti-competitive conduct in the marketplace
Q3) The management of a firm has utmost control over the competitive environment confronting it.
A)True
B)False
Q4) Technological advances can usher in a whole new set of competitors that can change a firm's business model.
A)True
B)False
Q5) List and describe the four basic values that have strongly influenced American attitudes and lifestyles.
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) Which of the following is a difference between product invention and product adaptation?
A)Product invention involves altering the promotional strategies for a product,while product adaptation does not involve altering such strategies.
B)Product invention takes the marketing mix into consideration,while product adaptation does not take it into consideration.
C)Product invention involves drastically changing an existing product,while product adaptation involves slightly altering a basic product.
D)Product invention applies only to products that are displayed in local markets,while product adaptation applies to products all around the world.
Q2) Currency markets operate under a system in which the prices of different currencies move up or down based on the demand for and supply of each currency.This is the system of _____.
A)countertrade
B)floating exchange rates
C)dumping
D)contract manufacturing
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Page 7
Chapter 6: Consumer Decision Making
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Sample Questions
Q1) Marketing managers often use in-store promotions to stimulate the sales of products for which consumers may not recognize their wants until they are in a store.Such products can be categorized as__________products.
Q2) Marketing managers often use in-store promotions to stimulate the sales of products for which consumers may not recognize their wants until they are in a store.Such products can be categorized as _____ products.
A)industrial
B)low-involvement
C)technical
D)high-priced
Q3) Interest in organized labor is one of the most common attributes among the working class.
A)True
B)False
Q4) Social class as a marketing tool:
A)indicates which medium to use for promotion.
B)is solely a measure of income level and education.
C)offers few insights concerning consumer behavior.
D)has demonstrated that all classes of consumers shop in the same stores.
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Chapter 7: Business Marketing
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Sample Questions
Q1) A consumer product is used to manufacture other goods or services,to facilitate an organization's operations,or to resell to other customers.
A)True
B)False
Q2) __________are goods,such as portable tools and office equipment,which are less expensive and shorter-lived than installations.
Q3) The key characteristic distinguishing business products from consumer products is intended use.
A)True
B)False
Q4) What are the main differences between major equipment and accessory equipment?
Q5) Both relationship commitment and trust are necessary for a strategic alliance to succeed in the long run.
A)True
B)False
Q6) A small increase or decrease in consumer demand can produce a much larger change in demand for the facilities and equipment needed to make the consumer product.This is known as__________.
Page 9
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Chapter 8: Segmenting and Targeting Markets
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Q1) When Prisly Inc.introduced a liquid detergent in the market,it noticed that the sales of its detergent powder significantly declined.Prisly Inc.'s loyal customers who previously purchased detergent powder switched to liquid detergent.As a result,Prisly Inc.was forced to reduce production of its detergent powder.This scenario exemplifies _____.
A)segmentation
B)diversification
C)differentiation
D)cannibalization
Q2) Sheera Jewelry sends birthday greeting cards to each of its customers as a token of appreciation for shopping at its store.This exemplifies the customer relationship management (CRM)trend of _____.
A)loyalty
B)technology
C)time savings
D)personalization
Q3) Nalpas Inc. ,an apparel company,manufactures clothes for men,women,and children.It further divides its core customers on the basis of demographic variables such as income,ethnic background,and family life cycle.These divisions are known as__________.
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Page 10
Chapter 9: Marketing Research
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Sample Questions
Q1) Explain the importance of marketing research in decision making.
Q2) Marketing research is of little help to managers who want to understand detailed and complicated relationships.
A)True
B)False
Q3) To initiate a customer relationship management cycle,a company must focus on__________.
Q4) Which stage in a customer relationship management cycle is characterized by the sharing of customer information to all areas of a business after it has been analyzed and transformed into useful information?
A)Identifying profitable and unprofitable customers
B)Leveraging customer information
C)Identifying customer relationships with the organization
D)Storing and integrating customer data
Q5) 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
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Chapter 10: Product Concepts
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Q1) _____ is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly.
A)Greenwashing
B)Green hosting
C)Astroturfing
D)Cooperative branding
Q2) Which of the following is considered an advantage of decreasing a product's quality?
A)It gives manufacturers greater ability to raise prices for the product.
B)It allows manufacturers to appeal to target markets unable to afford the original product.
C)It motivates customers to replace worn out products.
D)It enhances the ease of coordinating promotion from market to market.
Q3) _____ 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
Q4) __________refers to the number of product lines an organization offers.
Q5) Explain the importance of product offering in creating a marketing mix.
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Chapter 11: Developing and Managing Products
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Q1) In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the__________.
Q2) Hakimo Corp. ,a multinational corporation that specializes in audio equipment,has developed a wireless speaker that sits unobtrusively on a desktop.The tiny,yet strong,twin speakers use Bluetooth to stream music directly from a PC or MP3 player.This small wireless speaker,which is radically different from anything currently on the market,can most likely be classified as a:
A)repositioned product.
B)revision of an existing product.
C)discontinuous innovation.
D)lower-priced product.
Q3) A period during which sales decrease at an increasing rate signals the beginning of the maturity stage of the product life cycle.
A)True
B)False
Q4) Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.
Q5) The business analysis stage of a new-product development process__________.
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Chapter 12: Services and Nonprofit Organization Marketing
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Q1) Car Bar allows its customer to rent a car at $10 per day on weekdays,at $15 per day on weekends,and at $20 per day exclusively during the holiday season.This pricing strategy helps the company match the supply and demand for its cars.This is an example of _____.
A)operations-oriented pricing
B)revenue-oriented pricing
C)patronage-oriented pricing
D)quality-oriented pricing
Q2) Marketers have more trouble promoting tangible goods than intangible services.
A)True
B)False
Q3) Briefly explain what service firms must do to be successful in the global marketplace.
Q4) Silver Line Electronics Inc.uses technology to produce laptops and other gadgets in bulk based on each individual client's specific needs and requirements.This is an example of _____.
A)standardization
B)reverse engineering
C)benchmarking
D)mass customization
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Chapter 13: Supply Chain Management
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Sample Questions
Q1) Explain in detail the product development and commercialization process.
Q2) Which of the following is an advantage of supply chain management to companies?
A)Reduced operational flexibility
B)Improved customer service
C)Reduced interactions between companies and their suppliers
D)Increased ability to perform in isolation
Q3) Reactive supply chain resiliency measures seek to protect key inventory and assets from damage,theft,or destruction.
A)True
B)False
Q4) A(n)__________is best described as an entire group of individuals who orchestrate the movement of goods,services,and information from the source to the consumer.
Q5) How has the use of supply chain management resulted in a radical reformulation of traditional marketing,production,and distribution functions?
Q6) 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__________.
Q7) Why is agility crucial for companies?
Page 15
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Chapter 14: Marketing Channels
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Q1) _____ occurs when a firm refuses to meet specific obligations or fails to change when new situations arise.
A)Intensive distribution
B)Passive opportunism
C)Co-opetition
D)Cooperation
Q2) 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.
Q3) Red Chilly Productions,a production studio based in the United States,decides to make a major change in its distribution strategy.It withdraws contracts from its retail partners and beginsto operate its own rental store.This results in its retail partners filing several lawsuits against the company.This scenario is an example of _____.
A)bilateral monopoly
B)dual distribution
C)horizontal conflict
D)retailer monopoly
Q4) Why are many companies transitioning to omnichannel distribution operations?
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16
Chapter 15: Retailing
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Q1) Zeta is an American multinational retail corporation.To move ahead of its competitors and increase revenue,Zeta began to employ a system to determine which products to stock and at what prices,and how to advertise to draw target customers.The process employed by Zeta is called __________.
Q2) _____ are inventories displayed for sale to customers.
A)Back stock
B)Floor stock
C)Intangible assets
D)Tangible assets
Q3) _____ means persuading customers to buy a higher-priced item than they originally intend to purchase.
A)Suggestion selling
B)Trading up
C)Brand cannibalization
D)Microtargeting
Q4) __________are inventories displayed for sale to customers.
Q5) Determining a target market is not a prerequisite to creating the retailing mix.
A)True
B)False
Q6) __________compete on the basis of low prices,high turnover,and high volume.
Page 17
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Chapter 16: Marketing Communications
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Q1) 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.
Q2) A firm should choose all five promotional elements in its promotional mix and use them in equal degrees.
A)True
B)False
Q3) Social media are non-ubiquitous.
A)True
B)False
Q4) __________is the process by which meanings are exchanged or shared through a common set of symbols.
Q5) Explain the different stages in a product's life cycle.
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Chapter 17: Advertising, public Relations, and Sales Promotion
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Q1) Which of the following types of advertisements is likely to be more successful in transforming a person's negative attitude toward a product into a positive one?
A)Advertisements aimed at changing the person's deep-rooted values
B)Advertisements emphasizing luxury
C)Humorous advertisements
D)Dramatic advertisements
Q2) Testing ad effectiveness can be done before and/or after the campaign.
A)True
B)False
Q3) A(n)_____ is the channel used to convey a message to a target market.
A)medium
B)product network
C)attribute
D)appeal
Q4) If an advertiser wants to enhance the sales of a specific good or service,__________advertising should be used.
Q5) A(n)__________designates the channel to be used,the specific vehicles,and the insertion dates of advertising.
Q6) Explain how marketers manage unfavorable publicity using an example.
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Chapter 18: Personal Selling and Sales Management
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Q1) A sales presentation should be explicitly tied to the expressed needs of a prospective customer.
A)True
B)False
Q2) 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__________.
Q3) Ego strength is one of the traits that sales managers look for while recruiting salespeople.
A)True B)False
Q4) A sales manager at Guilden Corporation,a manufacturer of consumer durable goods,has instructed his new salesperson,Rita,to sell five flat screen televisions per week.In addition to this,she is also expected to identify ten potential customers.These instructions given to Rita are referred to as__________.
Q5) __________is the point at which a customer and a company representative exchange information and develop learning relationships.
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Chapter 19: Social Media and Marketing
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Q1) Which of the following is true of brands,organizations,and nonprofits that use Facebook?
A)They have thus far been unsuccessful in their attempts to use the platform to create viral marketing campaigns.
B)Their pages are public and are thus subject to search engine indexing.
C)They are restricted from communicating directly with fans and interested stakeholders due to risks of hacking.
D)Their ability to optimize search engine results is very low.
Q2) Social media measurements are meaningless if:
A)they require further processing.
B)they are tied to performance indicators.
C)they are taken from many sources.
D)they lack context.
Q3) Review sites have proved to be disadvantageous to marketers as consumers can post negative comments publicly on these sites.
A)True
B)False
Q4) List the implications that social media have for marketers and the way they communicate with their customers.
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Chapter 20: Pricing Concepts
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Q1) Jaggd Inc. ,an electronic goods manufacturing company,was planning to launch its latest smartphone in the market.Within the first few days of launching the phone,Jaggd wanted to earn as much revenue as the cost incurred in manufacturing the phone.So,it priced the phone about as high as the market would allow.In this case,Jaggd entered the market with a__________approach to pricing the smartphone.
Q2) At a price of $2,000,the demand for Ranger 60 mountain bikes from Cloyd's Inc.is 300,but only 191 bikes are being made.At a price of $2,300,the demand for the bikes is 250,and exactly 250 bikes are being made.If Cloyd'ssells each one of the bikes at a price lower than $2,300,_____.
A)a shortage of bikes will be created
B)the number of bikes being made will increase drastically
C)an inelastic demand for the bikes will be created
D)the demand and supply for the bike will attain equilibrium
Q3) Consumers are more likely to perceive the value of a product to be less than its cost if:
A)the product's price is set too high.
B)the product's manufacturer gains very little profit from the product.
C)the product has an inelastic demand.
D)the product's demand and supply attain the state of price equilibrium.
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Chapter 21: Setting the Right Price
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Q1) _____ are costs that are shared in the manufacturing and marketing of several products in a product line.
A)Overhead costs
B)Fixed costs
C)Joint costs
D)Opportunity costs
Q2) A _____ is a price reduction offered to a consumer,an industrial user,or a marketing intermediary in return for prompt payment of a bill.
A)cash discount
B)quantity discount
C)functional discount
D)seasonal discount
Q3) Acmell Lawnmowers Inc.sells its mowers to retailers at different prices depending on whether they are independent stores or members of a national chain.In this scenario,the company indulges in__________.
Q4) A__________is a price reduction offered to buyers buying in multiple units or above a specified dollar amount.
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