Marketing Management
Exam Answer Key
Course Introduction
Marketing Management is a comprehensive course designed to introduce students to the foundational principles and strategic concepts essential to effective marketing in todays dynamic business environment. The course covers topics such as market research and analysis, consumer behavior, marketing mix decisions (product, price, place, promotion), branding, and digital marketing strategies. Through case studies, projects, and real-world examples, students will learn to develop, implement, and evaluate marketing strategies that create value for customers and achieve organizational objectives. Emphasis is placed on ethical considerations, globalization, and the impact of technological advancements on marketing practices.
Recommended Textbook
Marketing 2016 18th Edition by William
M. Pride O. C. Ferrell
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20 Chapters
4072 Verified Questions
4072 Flashcards
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Chapter 1: An Overview of Strategic Marketing
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171 Verified Questions
171 Flashcards
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Sample Questions
Q1) Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?
A)Profits for the seller
B)A good bargain on the product for the buyer
C)Reducing the seller's inventory
D)One party having to compromise in the exchange
E)Satisfaction for both the buyer and seller
Answer: E
Q2) Services are provided by applying human and mechanical efforts to people or objects to provide intangible benefits to customer.
A)True
B)False
Answer: True
Q3) The broadest and simplest definition of marketing states that it is the development and efficient distribution of products for consumer segments.
A)True
B)False
Answer: False
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3
Chapter 2: Planning, Implementing, and Evaluating Marketing Strategies
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141 Verified Questions
141 Flashcards
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Sample Questions
Q1) The primary way to reduce the discrepancy between planned and actual performance is to rewrite the performance standard.
A)True
B)False
Answer: False
Q2) According to the Boston Consulting Group, question marks are characterized as products
A)having a small share of a growing market and requiring large amounts of cash to build market share.
B)generating more cash than is required to maintain share.
C)encompassing the greatest number of products.
D)existing at a cost disadvantage and revealing few opportunities for growth at a reasonable cost.
E)having substantial reported profits but needing a lot of cash to finance the rate of growth.
Answer: A
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Chapter 3: The Marketing Environment
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198 Flashcards
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Sample Questions
Q1) The best approach for a company to take when monitoring its competitors is
A)watching for increases and decreases in competitors' prices and match them.
B)analyzing all information that is readily available about competitors.
C)sending employees to competitors' offices and factories to observe their actions.
D)developing a system for gathering ongoing information about competitors.
E)reading important business publications such as The Wall Street Journal.
Answer: D
Q2) In general, which of the following competitive structures is an organization least likely to operate?
A)Monopoly
B)Monopolistic competition
C)Oligopoly
D)Elastic competition
E)Pure competition
Answer: E
Q3) Changes in cultural values have little effect on people's needs for products.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Social Responsibility and Ethics in Marketing
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Sample Questions
Q1) Marketers resolve ethical issues based on their experiences and what they learn from others in the organization. The outcome of this learning process depends upon _____________________, opportunity for unethical behavior, and exposure to others who behave ethically or unethically.This is an example of
A)their educational training
B)their level in the organization
C)their incentive plan
D)the strength of personal values
E)the monetary factors that influence ethical decision making
Q2) One of the most significant principles of business is that the primary objective of the executive management of a corporate entity is to engage in strategic actions that increase shareholder value.If we think of this objective in terms of the four dimensions of social responsibility, it would be part of the
A)Philanthropic dimension
B)Ethical dimension
C)Legal dimension
D)Economic dimension
E)Marketing dimension
Q3) Discuss some of the important ethical issues in marketing.
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Page 6
Chapter 5: Marketing Research and Information Systems
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189 Flashcards
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Sample Questions
Q1) Three types of objective questions that can be designed for questionnaires are closed questions, linkage questions, and multiple-choice questions.
A)True
B)False
Q2) All of the following are steps in the marketing research process except
A)collecting data.
B)interpreting research findings.
C)designing the research project.
D)reporting research findings.
E)understanding your customer.
Q3) The key to locating and defining problems is to probe beneath the superficial symptoms.
A)True
B)False
Q4) The purpose of marketing research is to inform an organization about customers' needs and desires, marketing opportunities for particular goods and services, and changing attitudes and purchase patterns of customers.
A)True
B)False
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Chapter 6: Target Markets Segmentation and Evaluation
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206 Flashcards
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Sample Questions
Q1) One condition for effective segmentation is that at least one segment must have substantial profit potential.
A)True
B)False
Q2) Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?
A)Executive judgment
B)Customer surveys
C)Time series analysis
D)Market tests
E)Regression methods
Q3) The term market density refers to the number of potential customers per unit of land area, such as per square mile.
A)True
B)False
Q4) Through market tests, a forecaster gains data regarding consumers' intended purchases.
A)True
B)False
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Chapter 7: Consumer Buying Behavior
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225 Verified Questions
225 Flashcards
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Sample Questions
Q1) The actual act of purchase is the second stage of the consumer buying decision process.
A)True
B)False
Q2) Which American subculture spends the highest proportion of its income on phone services, children's clothing, and shoes?
A)Native Americans
B)Hispanics
C)African Americans
D)Asian Americans
E)Americans over 65 years of age
Q3) Why are consumer attitudes an important issue for marketers to study? Can attitudes be changed easily by marketers? Explain.
Q4) Just as attitudes are learned, they can be changed.
A)True
B)False
Q5) How does the level of involvement affect the type of consumer decision-making process that a person uses?
Q6) Identify and describe the five major categories of situational influences.
Page 9
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Chapter 8: Business Markets and Buying Behavior
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175 Flashcards
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Sample Questions
Q1) The five-stage business buying decision process is used primarily for routine, straight rebuy purchases.
A)True
B)False
Q2) Most businesses try to control the level of quality in the parts they buy from suppliers. Most firms develop standards for ____ in order to achieve their quality goals.
A)how many different suppliers they use
B)how many parts can fail
C)controlling when shipments will arrive
D)the percentage of defects allowed
E)how long the parts should last
Q3) Volkswagen purchases upholstery for the interiors of its vehicles from various suppliers. This upholstery must have a set of characteristics that is expressed by Volkswagen. This set is called A)descriptions.
B)product features.
C)criterion.
D)purchase requests.
E)specifications.
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Page 10
Chapter 9: Reaching Global Markets
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Sample Questions
Q1) Which of the following alliances/agreements is the United States not a part of?
A)NAFTA
B)APEC
C)GATT
D)WTO
E)MERCOSUR
Q2) Which of the following lists the levels of involvement in global marketing from the lowest to the highest?
A)Regional marketing, multinational marketing, limited exporting, domestic marketing, globalized marketing
B)Limited exporting, domestic marketing, globalized marketing, multinational marketing, regional marketing
C)Globalized marketing, multinational marketing, regional marketing, limited exporting, domestic marketing
D)Domestic marketing, globalized marketing, regional marketing, multinational marketing, limited exporting
E)Domestic marketing, limited exporting, multinational marketing, regional marketing, globalized marketing
Q3) In what ways can a nation restrict the flow of imported goods?
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Page 11
Chapter 10: Digital Marketing and Social Networking
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165 Flashcards
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Sample Questions
Q1) Discussion forums are not very popular with the online population.
A)True
B)False
Q2) When consumers conduct an online product information search, corporate-generated content appears more credible than consumer messages.
A)True
B)False
Q3) Describe the opportunities that have evolved in marketing due to the use of digital media.
Q4) Refer to Scenario 10.1. Visitors to the Disney website have the ability to regulate the information they view and the activities they participate in. This is an example of A)addressability.
B)interactivity.
C)accessibility.
D)connectivity.
E)control.
Q5) In what ways can a company use YouTube to its advantage?
Q6) How have digital media and social networking changed the consumer's buying behavior?
Page 12
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Chapter 11: Product Concepts, Branding and Packaging
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375 Verified Questions
375 Flashcards
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Sample Questions
Q1) When Anheuser-Busch added Michelob Light to the line of Michelob beers, the firm was using ____ branding.
A)brand-extension
B)individual
C)family
D)selective
E)licensed
Q2) The major characteristic of a private brand is that
A)only retailers initiate and own the brand.
B)manufacturers are not identified on the product.
C)producers become involved with the marketing mix.
D)producers price the product.
E)wholesalers encourage producers to make the product available.
Q3) Marketers must follow packaging technology and legislation to make modifications that ensure consumer safety.
A)True
B)False
Q4) Apple Computer is an example of a manufacturer brand.
A)True
B)False
Page 13
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Chapter 12: Developing and Managing Products
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176 Flashcards
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Sample Questions
Q1) How a pair of jeans looks, regardless of the price, is an example of styling.
A)True
B)False
Q2) Outback Steakhouse wants to expand its line of food products. The managers sent surveys to customers to determine which food items would appeal to them. Outback is currently in the ____ phase of new-product development.
A)business analysis
B)product development
C)test marketing
D)screening
E)idea generation
Q3) What step in developing new products involves determining whether the product idea is compatible with company objectives, needs, and resources on a general level?
A)Product development
B)Evaluation of competitor's efforts
C)Screening
D)Idea generation
E)Business analysis
Q4) Describe product positioning. List and explain the bases for positioning.
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Chapter 13: Services Marketing
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195 Verified Questions
195 Flashcards
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Sample Questions
Q1) One way service businesses communicate a higher level of service quality to their customers is by having their employees be clean, sharp looking, and dressed in appropriate uniforms. This is a way to address the ____ characteristic of services.
A)intangibility
B)perishability
C)tangibility
D)inseparability
E)heterogeneity
Q2) Services are products that can be touched and felt.
A)True
B)False
Q3) The more ____ involved with delivering a service, the greater the degree of heterogeneity.
A)mechanical efforts
B)phone contact
C)perishability
D)tangibility
E)human labor
Q4) In what ways do perishability and intangibility affect the pricing of services?
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Chapter 14: Marketing Channels and Supply-Chain Management
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264 Verified Questions
264 Flashcards
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Sample Questions
Q1) Channel decisions are important to marketers mostly because
A)they are relatively flexible to change quickly.
B)consumers value reasonable prices delivered through marketing channels.
C)they dictate what promotional strategies companies should use.
D)many businesses are marketing intermediaries.
E)they involve long-term commitments and affect customer accessibility.
Q2) Agents are seldom used in channels for consumer products.
A)True
B)False
Q3) For which of the following products would exclusive distribution be most appropriate?
A)Gasoline
B)Rolls Royce automobile
C)Ray-Ban sunglasses
D)Louis Vitton luggage
E)Harley-Davidson motorcycle
Q4) How do marketing channel decisions influence the rest of the marketing mix?
Q5) Compare and contrast horizontal and vertical channel integration.
Q6) Describe the three forms of vertical marketing systems.
Q7) Explain the legal ramifications of attempts to control distribution functions. Page 16
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Page 17
Chapter 15: Retailing, Direct Marketing and Wholesaling
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248 Verified Questions
248 Flashcards
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Sample Questions
Q1) Kate owns a refreshment-stand business at the community ballpark. She goes to a warehouse store like Sam's and purchases snacks and canned soda that she will sell at her refreshment stand. Kate is considered a(n)
A)wholesaler.
B)broker.
C)retailer.
D)intermediary.
E)agent.
Q2) Refer to Scenario 15.1. The Rain Forest Cafe and T-Rex Cafe are usually located in tourist-dense areas or large shopping malls in order to capture walk-by traffic. If the restaurants' primary focus was to obtain customers who are walking by, they would definitely not want which of the following locations?
A)strip centers
B)free-standing buildings
C)regional shopping centers
D)the Mall of America
E)a traditional business district
Q3) In what ways do retailers add value to products?
Q4) Compare and contrast department stores and discount stores.
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Chapter 16: Integrated Marketing Communications
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224 Verified Questions
224 Flashcards
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Sample Questions
Q1) As Emily prepares the script for a radio commercial for her boutique, she is engaging in the ____ stage of the communication process.
A)encoding
B)sourcing
C)decoding
D)sending
E)receiving
Q2) Pioneer promotion neither emphasizes brand names nor compares brands.
A)True
B)False
Q3) In one corner of its magazine advertisement for office copiers, Lexmark places a small box asking for the names and addresses of individuals or companies seeking more information. Lexmark has included this box to facilitate ____ for this communication.
A)decoding
B)feedback
C)encoding
D)perceptual attention
E)noise reduction
Q4) How does sales promotion differ from promotion in general?
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Chapter 17: Advertising and Public Relations
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202 Flashcards
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Sample Questions
Q1) Public relations materials include which of the following?
A)Logos
B)Business cards
C)Stationery
D)Newsletters
E)Signs
Q2) Sony Corporation has a particular approach for determining its advertising appropriation. A problem with this technique, however, is that the people in the marketing department have difficulty estimating the level of effort needed to achieve certain goals. This problem is characteristic of the ____ approach.
A)reliable-appropriation
B)match-competition
C)arbitrary
D)objective-and-task
E)percent-of-sales
Q3) Discuss how event sponsorship can be used as a public relations tool.
Q4) What steps should an organization take to be able to deal effectively with negative public relations?
Q5) Describe the major types of advertising, and discuss how they differ.
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Chapter 18: Personal Selling and Sales Promotion
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Sample Questions
Q1) One objective of consumer sales promotion techniques is to encourage patronage for a specific retail store.
A)True
B)False
Q2) Identify four consumer and four trade sales promotion techniques, and describe each one.
Q3) Olivia is the manager of Human Resources for Zappos.com. She is currently reviewing the sales force compensation method used at Zappos.com to determine if there is a better way to manage compensation. Olivia knows that the ____ method is easy to administer, yields more predictable selling expenses, and provides sales managers with a large degree of control over salespeople.
A)Straight commission
B)Salary plus bonus
C)Salary and commission
D)Straight commission and combination
E)Straight salary
Q4) Two major categories of sales promotion methods are consumer and trade.
A)True
B)False
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) Refer to Scenario 19.2. BASF has decided to offer discounts to its businesses customers in the form of the following: For each order of $100,000 or more during the next 90 days, the buyer will receive a rebate of 5 percent. This type of pricing would be an example of ____ discounts.
A)allowance
B)cash
C)seasonal
D)noncumulative
E)cumulative
Q2) Price should be defined in terms of money only.
A)True
B)False
Q3) Changes in buyers' attitudes, other components of the marketing mix, and uncontrollable environmental factors can influence demand.
A)True
B)False
Q4) Nonprice competition can be used to establish brand loyalty.
A)True
B)False
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Chapter 20: Setting Prices
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Sample Questions
Q1) The newest version of a product like Bose headphones is likely to use _____, while the new version of Red Bull is likely to use _____ .
A)penetration pricing; price skimming.
B)price skimming; psychological pricing.
C)psychological pricing; penetration pricing
D)price skimming; penetration pricing
E)price skimming; promotional pricing.
Q2) If local Shell gasoline stations look at BP stations' prices as the primary method of determining its own prices, Shell is using ________
A)price fixing; which considers competition to be less important than costs.
B)price fixing; which considers costs to be less important than competitor's prices.
C)market share pricing; which considers competition to be the ultimate pricing goal.
D)competition-based pricing, which considers profit to be the ultimate pricing goal.
E)competition-based pricing, which considers costs to be less important than competitor's prices.
Q3) Identify and describe the four types of product-line pricing.
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