Marketing Fundamentals Exam
Bank
Course Introduction
Marketing Fundamentals introduces students to the core concepts, principles, and practices that drive the field of marketing. The course explores key topics such as market research, consumer behavior, segmentation, targeting, positioning, and the development of marketing mixes (product, price, place, and promotion). Through real-world examples and case studies, students learn how organizations identify customer needs, develop effective marketing strategies, and create value in competitive environments. The course also covers the impact of digital technologies and ethical considerations in modern marketing, providing a strong foundation for further study and practical application in business settings.
Recommended Textbook
Preface to Marketing Management 13th Edition by J. Paul Peter
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14 Chapters
1150 Verified Questions
1150 Flashcards
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Chapter 1: Strategic Planning and the Marketing Management Process
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66 Verified Questions
66 Flashcards
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Sample Questions
Q1) Run With Scissors,Inc.,a hair salon,advertizes its trendy and affordable offerings primarily through the use of social media.The type of strategy the hair salon uses can be classified as marketing for a _____.
A) product
B) service
C) cause
D) organization
Answer: B
Q2) Which of the following parties would come under the cooperative environment of the firm?
A) A rival firm
B) A non-profit organization that the firm donates funds to C) A government that is imposing restrictions on trade and commerce
D) A supplier who has been chosen for sole sourcing
Answer: D
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Page 3
Chapter 2: Marketing Research: Process and Systems for Decision Making
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following steps of the research process involves locating data or preparing observational forms or questionnaires,if the research involves collecting primary data?
A) Performance of the research
B) Processing of the research
C) Planning of the research
D) Preparation of research report
Answer: A
Q2) Far-n-Wide,a leading travel agency,wants to implement market segmentation in order to target people who travel at least once a week for business purposes.The ticketing data from all outlets issuing tickets is consolidated in the company database and this is used to identify the consumers who constitute this frequent-flyers segment.What type of research is the company using?
A) Mathematical modeling research
B) Observational research
C) Qualitative research
D) Experimental research
Answer: A
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Chapter 3: Consumer Behavior
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Jerri wanted to undertake some remodeling prior to moving into her new home after her marriage.She was convinced that she must first replace the carpeting because the previous owners smoked.She did not want to buy any available carpeting hastily because she knew that carpeting varied as per style and quality.Also,Jerri did she want to spend $3,000 for carpeting that had to be replaced in five years.For Jerri,the purchase of the carpeting most likely involved _____ decision making.
A) selective
B) limited
C) extensive
D) routine
Answer: C
Q2) A high degree of product involvement typically encourages _____ decision-making by consumers.
A) optional
B) limited
C) extensive
D) routine
Answer: C
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Page 5
Chapter 4: Business, Government, and Institutional Buying
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79 Flashcards
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Sample Questions
Q1) The complexity of the purchase that is to be made is a major consideration that affects the purchase decision.Which of the following types of organizational purchases would be the most complex?
A) Modified rebuy
B) New task purchase
C) Just-in-time inventory
D) Straight rebuy
Q2) Which of the following is the last stage of the organizational buying process?
A) Postpurchase evaluation
B) Organizational need assessment
C) Vendor analysis
D) Purchase activity
Q3) Organizational buyers are engaging in sole sourcing because they are more concerned with _____ than buying only on the basis of price.
A) exclusive distribution
B) nonstore selling options
C) quality and timely deliveries
D) new task purchases
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6
Chapter 5: Market Segmentation
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Sample Questions
Q1) What does the horizontal dimension of the VALS framework represent?
A) Secondary needs
B) Resources
C) Consumer needs
D) Primary motivation
Q2) Danko,Inc.has manufactured a new line of wristwatches that can withstand extreme conditions,such as below freezing temperatures.The watches are also waterproof and heat-resistant.The company is marketing these watches specifically to adventurers and extreme sports enthusiasts,such as mountain climbers and scuba divers.Danko positioned their line of wristwatches:
A) in terms of particular types of product users.
B) in terms of superiority to competing products.
C) relative to a particular product class.
D) directly against a particular competitor.
Q3) Which of the following is the last stage of the market segmentation process?
A) Delineating the firm's current situation
B) Deciding the marketing mix strategy
C) Dividing markets on relevant dimensions
D) Developing product positioning
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Page 7
Chapter 6: Product and Brand Strategy
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88 Flashcards
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Sample Questions
Q1) One of the advantages of using _____ is that the firm can distance products from other offerings it markets.
A) dual branding
B) multibranding
C) family branding
D) cobranding
Q2) Fresh-Cola,Inc.is a manufacturer of carbonated drinks that package their products in bottles,cans,and 12-pack cartons.A standard 12-pack carton of soft drinks neither fits conveniently in the standard-size refrigerator shelf,nor can the drinks be easily dispensed from the carton.Fresh-Cola introduced a new design it calls the refrigerator pack.The refrigerator pack is designed to fit easily on a standard refrigerator shelf and dispenses one can at a time.With its new refrigerator pack,Fresh-Cola is:
A) implementing a private branding strategy.
B) using packaging as a part of its product differentiation strategy.
C) using a brand extension strategy for market development.
D) implementing a cost leadership strategy in the market for carbonated drinks.
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Chapter 7: New Product Planning and Development
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90 Flashcards
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Sample Questions
Q1) Best City Co.opened cellular phone stores at nine locations in Manhattan to gauge consumer's reactions to them.These stores,called Best City Mobile,carried more than 80 cell phones from big manufacturers.Shoppers had the option to choose from seven mobile phone service carriers.Based on positive consumer reaction and the success of these stores,Best City opened stores nationwide.This is an example of _____.
A) product development
B) test marketing
C) project planning
D) idea screening
Q2) Dynamic Technologies,Inc.had an idea for a new airplane rudder.When it could not gain access to the resources it needed to develop the new product,it entered into a long-term partnership with Starway Airlines.Today Starway uses this rudder on its commercial passenger jets.The relationship between Dynamic Technologies and Starway is an example of a(n) _____.
A) merger
B) budget plan
C) acquisition
D) strategic alliance
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Page 9
Chapter 8: Integrated Marketing Communications
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100 Flashcards
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Sample Questions
Q1) _____ involve(s)aiming promotional efforts directly at customers to encourage them to ask the retailer for the product.
A) Horizontal marketing
B) Pull marketing
C) Creative marketing
D) Target marketing
Q2) A paid form of nonpersonal communication,about an organization,its products,or its activities that is transmitted through a mass medium to a target audience is called:
A) public relations.
B) advertising.
C) direct marketing.
D) sales promotion.
Q3) Which of the following promotional tools is least likely to produce conviction among potential buyers?
A) Sales promotion
B) Personal selling
C) Advertising
D) Public relations
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Chapter 9: Personal Selling, Relationship Building, and Sales Management
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80 Flashcards
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Sample Questions
Q1) AT&T and Sovintel,a Russian telephone company,joined forces to offer high-speed ISDN services for digitized voices,data,and video communications between the two countries.By working together,the telecommunications companies could reach more businesses than either could do alone.The relationship between AT&T and Sovintel is an example of a:
A) transactional relationship.
B) relational subsidy.
C) strategic alliance.
D) functional relationship.
Q2) Which of the following is a persuasion objective of the sales force?
A) Installation of the product or service that exceeds customer expectations
B) Conversion of first-time customers into repeat purchasers
C) Reassurance of product or service superiority through demonstrable actions
D) Immediate follow-up visits to address unresolved concerns
Q3) The goal of _____ is to build lasting relationships with customers.
A) prospecting
B) screening
C) cold calling
D) aftermarketing
Page 11
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Chapter 10: Distribution Strategy
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85 Flashcards
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Sample Questions
Q1) A corporate vertical marketing system is exemplified by:
A) a florist shop that buys from a wholesale plant nursery.
B) a coffee producer who owns a chain of coffee shops.
C) the relationship of Walmart with its suppliers.
D) the Subway sandwich shop franchise system.
Q2) If a product requires certain specialized selling effort or investment in unique facilities or large inventories,the _____ distribution arrangement is usually selected.
A) exclusive
B) geodemographic
C) intensive
D) selective
Q3) In which of the following types of contractual vertical marketing systems do a group of independent retailers unite and agree to pool buying and managerial resources to improve competitive position?
A) Retail cooperative organization
B) Wholesaler-sponsored voluntary chain
C) Retail franchising programs
D) Retail organizational programs
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12
Chapter 11: Pricing Strategy
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86 Flashcards
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Sample Questions
Q1) Which of the following is a common pricing objective?
A) Pricing to maximize short-term profits
B) Pricing to reduce inventory costs
C) Pricing to achieve a target market share
D) Pricing to increase prestige of the product
Q2) Which of the following is true about markup pricing?
A) Prices are set a few dollars or a few cents below a round number to encourage the customers to think of the products as less expensive.
B) A percentage is added to the retailer's invoice price to determine the final selling price of the product.
C) Several products are sold together at a single price to connote value and convenience for customers.
D) It is used most often to describe the pricing of jobs that are nonroutine and difficult to "cost" in advance.
Q3) Which of the following is an important product consideration in pricing?
A) Affordability
B) Distinctiveness
C) Elasticity
D) Target market share
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Chapter 12: The Marketing of Services
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Sample Questions
Q1) Fiona uses her credit card to buy groceries at the local supermarket.The card itself is a tangible representation of the service that is being produced and consumed each time the card is being used and this helps to overcome the problem of _____.
A) inseparability
B) perishability
C) tangibility
D) fluctuating
Q2) Which of the following is true of the implications for service marketers?
A) Service marketers have been criticized for insufficient advertising.
B) Service marketers are traditionally associated with the solo practice, fee-for-service system.
C) Too many product and service offerings that confuse customers.
D) Service industries have been criticized for an overdependence on advertising.
Q3) Which of the following statements concerning the health care industry is true?
A) Inseparability element presents more of a handicap in health care delivery than in other services.
B) The only means of distribution of health care is through direct channels.
C) There is little innovation in the health care industry.
D) The health care industry is not market oriented.
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Page 14
Chapter 13: Global Marketing
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Sample Questions
Q1) Anchor Hospitals entered into a long-term contract with Helium Health Care,and allowed it the use of its brand name.In return Helium Health Care paid a lump sum and also a percentage of future profits and agreed to abide by all rules and operating procedures laid down by Anchor Hospitals.This is an example of _____.
A) direct ownership
B) strategic alliance
C) joint venture
D) franchising
Q2) In a _____,a company may decide to share management with one or more collaborating foreign firms.
A) joint venture
B) licensing agreement
C) franchising agreement
D) direct ownership
Q3) Franchising is similar to licensing but tends to involve:
A) longer-term commitments.
B) sharing management with one or more collaborating foreign firms.
C) manufacturing firms rather than service firms.
D) industries that call for large investments.
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Page 15
Chapter 14: Portfolio Models
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Sample Questions
Q1) Which of the following objectives seeks to increase the product's short-term cash flow without concern for the long run impact?
A) Hold share
B) Harvest
C) Divest
D) Build share
Q2) Which of the following observations is true of the "build share" objective?
A) It sacrifices immediate earnings to improve market share and is the appropriate strategy for question marks.
B) It increases the product's short-term cash flow without concern for the long-run impact.
C) It involves selling or divesting the SBU because better investment opportunities exist elsewhere.
D) It is very appropriate for dogs and those question marks the firm cannot afford to finance for growth.
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