Marketing Management
Exam Answer Key
Course Introduction
Marketing Management explores the frameworks, strategies, and tools essential for effectively analyzing markets, understanding customer needs, and developing successful marketing programs. The course covers key topics such as market segmentation, targeting, positioning, product development, pricing strategies, integrated marketing communications, and distribution channels. Students will learn how to create and implement marketing plans, measure marketing performance, and adapt strategies in response to dynamic market environments. With a blend of theory, case studies, and practical applications, the course prepares students to make informed marketing decisions and contribute to organizational growth.
Recommended Textbook
Marketing 11th Edition by Roger A. Kerin
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22 Chapters
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Page 2
Chapter 1: Creating Customer Relationships and Value
Through Marketing
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264 Verified Questions
264 Flashcards
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Sample Questions
Q1) element of the marketing mix that describes a means of getting the product to the consumer is known as
A) a product.
B) the price.
C) promotion.
D) the place or distribution.
E) transportation.
Answer: D
Q2) respect to the history of American business,the __________ era covered the early years of the United States up until the 1920s.
A) production
B) sales
C) marketing concept
D) customer relationship
E) market orientation
Answer: A
Q3) Define the marketing concept.
Answer: The marketing concept is the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
Page 3
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Chapter 2: Developing Successful Organizational and Marketing Strategies
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Sample Questions
Q1) Searching out,using,and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of Medtronic's
A) market segmentation and targeting strategy
B) price strategy
C) place strategy
D) promotion strategy
E) product/service strategy
Answer: C
Q2) business firm refers to
A) a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
B) a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
C) a privately owned organization that serves its customers to earn a profit so that it can survive.
D) a group of people united through contractual or corporate ownership.
E) a publicly owned organization that serves the general population.
Answer: C
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Chapter 3: Scanning the Marketing Environment
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Sample Questions
Q1) had been the Campbell Soup Co.'s practice to insert clear glass marbles into the bottom of soup containers used in print advertisements to bring the soup ingredients (e.g.,noodles or chicken)to the surface,thus misrepresenting the amount of solid ingredients in the soup.This was an example of
A) corrective advertising.
B) bait-and-switch advertising.
C) deceptive advertising.
D) cease-and-insist advertising.
E) self-regulation.
Answer: C
Q2) During a recessionary period,which of the following is expected?
A) The use of credit would decline.
B) Consumer spending would increase.
C) Taxes would increase nationally.
D) Property values would jump dramatically.
E) Consumers would use the majority of their discretionary income on entertainment. Answer: A
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Chapter 4: Ethical and Social Responsibility for Sustainable Marketing
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Sample Questions
Q1) Societal responsibility refers to
A) the obligation that organizations have to (1) the preservation of ecological environment and (2) the general public.
B) the obligation of a firm to price its products or services at a level whereby the consumer is treated fairly and the firm is still able to make a profit.
C) the view that an organization has an obligation to those who can affect the achievement of its objectives.
D) the duty of a firm to maximize profits for its owners or stockholders.
E) the idea that organizations are part of a larger society and are accountable to that society for their actions.
Q2) Employees who report unethical or illegal actions of their employers are referred to as
A) whistle-blowers.
B) scabs.
C) cronies.
D) corporate snitches.
E) ombudsman.
Q3) Identify and describe the two types of personal moral philosophy.
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Chapter 5: Understanding Consumer Behavior
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Sample Questions
Q1) Selective exposure is most likely to occur during which stage of the consumer purchase decision process?
A) information search
B) purchase decision
C) alternative evaluation
D) postpurchase behavior
E) problem recognition
Q2) attitude refers to
A) a person's consistent behaviors or responses to recurring situations.
B) the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world.
C) a consumer's subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people. D) the feelings one has about the preferable modes of conduct that tend to persist over time.
E) a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.
Q3) Define consumer socialization.
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Chapter 6: Understanding Organizations As Customers
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Sample Questions
Q1) Important product or service characteristics in organizational buying behavior include which of the following?
A) A heavy emphasis is placed on quantity price discounts.
B) A heavy emphasis is placed on delivery time, technical assistance, and postsale service.
C) Direct selling to organizational buyers is the rule.
D) Market sensitive pricing and sales incentives are used.
E) Online buying over the Internet is widespread.
Q2) Harley-Davidson is admired by its suppliers for involving them in future product development,referring to them as stakeholders,using quality benchmarks,and A) building long-term relationships.
B) signing lifetime contracts to demonstrate loyalty.
C) offering discounts for all key supplier personnel.
D) listing the names of key suppliers in its Harley-Davidson promotional material.
E) extending Harley-Davidson health care benefits to its suppliers' employees.
Q3) Figure 6-3 above summarizes how buy classes affect buying center tendencies in different ways.Identify the buy-class situations "A," "B," and "C."
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Chapter 7: Understanding and Reaching Global
Consumers and Markets
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Sample Questions
Q1) three types of companies populate and compete in the global marketplace are (1)international firms; (2)multinational firms; and (3)__________ firms.
A) multiethnic
B) transnational
C) multidomestic
D) ethnocentric
E) meganational
Q2) political and regulatory climate for marketing in a country or region of the world means not only identifying the current climate but also determining how A) it conducts its macrofinancing.
B) its citizens budget their money.
C) long a favorable or unfavorable climate will last.
D) the country's stocks are performing on the stock exchange.
E) its population ranks in size compared to other countries.
Q3) Describe the people at the bottom of the pyramid and give an example of how global companies are choosing to serve them.
Q4) Three types of companies populate and compete in the global marketplace.Identify and succinctly describe each type.
Page 9
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Chapter 8: Marketing Research: From Customer Insights to Actions
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Sample Questions
Q1) of the following are idea generation methods EXCEPT:
A) a mail survey
B) trend hunting
C) a focus group
D) a depth interview
E) an individual interview
Q2) fourth step of the marketing research approach is to __________.
A) develop findings
B) define the problem
C) take marketing actions
D) develop the research plan
E) collect relevant information
Q3) Consider Figure 8-4: Question 6 above,which is part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers.Question 6 illustrates which type of question format?
A) dichotomous
B) open-ended
C) Likert
D) attitudinal
E) semantic differential
Page 10
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Chapter 9: Market Segmentation,Targeting,and Positioning
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Sample Questions
Q1) Figure 9-1 above,"C" represents which stage of the market segmentation process?
A) link needs to actions
B) identify market needs
C) establish a marketing protocol
D) execute marketing program actions
E) segment and select the target markets
Q2) of the following would be a logical way to group the products Wendy's sells at its restaurants EXCEPT:
A) dinner
B) burgers
C) breakfast
D) between-meal snacks
E) lunch
Q3) Zappos' original target market customers consisted of people who wanted all of the following EXCEPT:
A) to receive quick delivery of their merchandise.
B) to buy sustainable shoes, accessories, and clothing.
C) to shop online in the convenience of their own homes.
D) to allow for free returns of goods if dissatisfied.
E) to have a wide selection of shoes.
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Chapter 10: Developing New Products and Services
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Sample Questions
Q1) International's Hey! There's A Monster In My Room spray with a bubble-gum fragrance was designed to rid scary creatures from a kid's bedroom.Although a clever idea,it failed because it
A) did not satisfy customer needs on critical factors.
B) had poor product quality.
C) had bad timing.
D) had an incomplete market and product protocol.
E) had too little market attractiveness.
Q2) Among business products,which of the following would most likely be considered accessory equipment?
A) a factory
B) sheet rock
C) a cleaning service
D) a drill press
E) pencils
Q3) Explain the difference between consumer products and business products.Why are some products difficult to categorize as one or the other? Give an example of a business product,a consumer product,and a product that is difficult to categorize.
Q4) Define derived demand and provide an example NOT included in the text.
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Chapter 11: Managing Successful Products,Services,and Brands
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Sample Questions
Q1) Promotional expenses at the maturity stage of the product life cycle are often designed to __________.
A) convince those who have abandoned the brand to try it again
B) maintain market share
C) create a sense of nostalgia
D) attract more price conscious consumers
E) thwart the growing number of competitors that have entered the market
Q2) challenges of packaging and labeling are often global.One particular challenge facing global manufacturers involves __________.
A) creating larger size packages to be sold at warehouse stores
B) creating packaging sensitive to educational diversity
C) addressing ongoing environmental concerns
D) ensuring ISO 19000 total quality management within national boundaries
E) making packaging an irrelevant part of a firm's marketing strategy
Q3) Which of the following products would have a fad product life cycle curve?
A) women's hosiery
B) pet rocks
C) electric cars
D) convection ovens
E) sport drinks
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Chapter 12: Services Marketing
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Sample Questions
Q1) four I's of services consist of
A) inflexibility, intangibility, inconsistency, and inseparability.
B) intangibility, inconsistency, inseparability, and inventory.
C) incompatibility, inconsistency, inseparability, and inventory.
D) invisibility, inconsistency, inseparability, and intangibility.
E) inflexibility, incongruity, inconsistency, and inventory.
Q2) do the United States Post Service,a state health department,and a local fire department have in common?
A) They are all government-sponsored service providers.
B) They never experience idle production capacity.
C) They do not fit on the goods-services continuum.
D) They do not have service encounters.
E) They do not have capacity management problems.
Q3) role do people play in the managing of services? In answering the question,discuss the concept of customer experience management (CEM).
Q4) Services incorporate the four I's of product marketing.How would each of these four elements apply to a stock brokerage service?
Q5) Where would potatoes,a photographic studio,and a psychologist fit into the service continuum?
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Chapter 13: Building the Price Foundation
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Sample Questions
Q1) Recently,much of the western U.S.experienced a drought condition and water usage was restricted in Denver.Yet even though most people used less water,the price of water did not drop.When the drought was declared over,the water company raised water prices.However,the residents of Denver did not use less water.Here,water is
A) price elastic.
B) price sensitive.
C) price inelastic.
D) price insensitive.
E) unitary elastic.
Q2) Figure 13-12 above is drawn to show that variable costs are smaller than fixed costs when the firm sells
A) 400 pictures.
B) 900 pictures.
C) 1,000 pictures.
D) 1,200 pictures.
E) There is not enough information to determine this.
Q3) Define marginal analysis.
Q4) are the six major steps involved in setting prices?
Q5) factors determine price elasticity of demand?
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Chapter 14: Arriving at the Final Price
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Sample Questions
Q1) Which of the following statements regarding price lining is most accurate?
A) In order for price lining to be effective, there should be at least 10 specified price points.
B) Price lining assumes that demand is inelastic at each price point but elastic between price points.
C) Price lining assumes that demand is elastic at each price point but inelastic between price points.
D) Price lining is the preferred pricing strategy for governmental contracts.
E) Price lining is the same as above-, at-, or below-market pricing.
Q2) penetration pricing policy is MOST LIKELY to be effective when: (1)a low initial price discourages competitors from entering the market; (2)unit production and marketing costs fall dramatically as production volume increases; and (3)__________.
A) lowering the price has only a minor effect on increasing sales volume and reducing unit costs
B) when the high initial prices do not attract competitors
C) when customers interpret high prices as signifying high quality
D) many segments of the market are price sensitive
E) customers are willing to buy immediately at the high initial price
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Page 16
Chapter 15: Managing Marketing Channels and Supply Chains
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Sample Questions
Q1) objective of information and logistics management in a supply chain is to deliver maximum customer service and to
A) minimize logistics costs.
B) maximize distribution outlets.
C) maximize profits.
D) maximize supply chain membership.
E) maximize supply chain inefficiency.
Q2) choosing a marketing channel or intermediary,it is important to ask three key questions: (1)Which channel and intermediaries will provide the best coverage of the target market? (2)Which channel and intermediaries will best satisfy the buying requirements of the target market? and (3)
A) How many of the firm's competitors will be using the same channels?
B) Which channels have strategic channel alliances with other resellers?
C) How long have the channel members and intermediaries been in business?
D) Who is responsible for negotiating the channel or intermediary contracts?
E) Which channel and intermediaries will be the most profitable?
Q3) the level of customer service increases,what happens to total logistics costs?
Q4) There are three types of contractual vertical marketing systems (VMS).List the systems and provide a brief description of each.
Page 17
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Chapter 16: Retailing and Wholesaling
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Sample Questions
Q1) Depth of product line refers to
A) the percentage of goods stored as inventory.
B) the variety of different product a store carries
C) variations in price and color on specific items in a store.
D) the number of items available within a product line.
E) the number of different product classes owned by a corporate chain.
Q2) calculation for same-store sales growth is
A) total sales ÷ selling area in square feet.
B) (store sales in year 3 ÷ store sales in year 1).
C) [store sales in year 1 ÷ (store sales in year 2 - store sales in year 1)].
D) [(store sales in year 2 - store sales in year 1) ÷ store sales in year 1].
E) store 1 square feet ÷ store 2 square feet.
Q3) Discounting a product when the product does not sell at the original price is referred to as __________.
A) inverse markup
B) markdown
C) price sensitivity
D) concession pricing
E) rebate
Q4) is category management and when is it used?
Page 18
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Chapter 17: Integrated Marketing Communications and Direct Marketing
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Sample Questions
Q1) are the strengths/advantages and weaknesses/disadvantages of using personal selling in the promotional mix?
Q2) promotion alternative that uses direct communication with consumers to generate a response in the form of an order,a request for further information,or a visit to a retail outlet is referred to as __________.
A) personal selling
B) sales promotion
C) publicity
D) advertising
E) direct marketing
Q3) design of the promotion will play a primary role in determining the message that is communicated to the audience.Successful designs are often the result of
A) accurately estimating costs of tasks.
B) identifying appropriate objectives.
C) accurately estimating what task will accomplish each objective.
D) obtaining insights regarding consumers' interests and behavior.
E) obtaining insights regarding task performance.
Q4) and briefly describe the key elements of the communication process.
Q5) Explain what the hierarchy of effects is.List and explain the five stages.
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Chapter 18: Advertising, Sales Promotion, and Public Relations
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Sample Questions
Q1) help advertisers place ads based on their search-engine results,Google developed an online tool called __________.
A) AdPage
B) AdLeaf
C) AdRank.
D) AdWords
E) AdRank
Q2) hardware store owner placed an advertisement for Sylvania LED light bulbs in the local newspaper.Sylvania provided the storeowner with several high-quality,camera-ready sample advertisements and also paid 50 percent of the cost to place the ad in the paper.Sylvania was using __________ to promote its products.
A) strategic channel partnership
B) cooperative advertising
C) retail publicity
D) reseller consumer promotion
E) manufacturer incentive advertising
Q3) and briefly define the four forms of institutional advertising.
Q4) two advantages and two disadvantages of using yellow pages,Internet,and billboards for advertising.
Page 20
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Chapter 19: Using Social Media and Mobile Marketing to
Connect With Consumers
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Sample Questions
Q1) percentage of recipients who have clicked on a link on the Page to visit a specific site is the
A) fan percentage.
B) click-through rate.
C) specific-website rate.
D) recipient rate.
E) website link rate.
Q2) does Facebook generate its sales revenue from ads?
A) Facebook allows companies' ads to show up in pop-up windows throughout the site.
B) Facebook charges companies to create a Facebook Page for their brands.
C) Facebook charges for ads to appear along the right-hand section of a Facebook webpage.
D) Facebook staff members create ads for companies who want to advertise on Facebook.
E) Facebook charges companies every time their brand is mentioned in a user's profile.
Q3) is a "negotiated measure" that is used as a performance measure for social media? What are its advantages and disadvantages?
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Page 21
Chapter 20: Personal Selling and Sales Management
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Sample Questions
Q1) Explain the difference between personal selling and sales management.
Q2) Three major presentation formats exist: (1)stimulus-response format; (2)__________; and (3)need-satisfaction format.
A) cold call format
B) formula selling format
C) stimulus-satisfaction format
D) stimulus-selling format
E) persuasive sales format
Q3) Behavioral measures used to evaluate salespeople include assessments of a salesperson's __________,attention to customers,product knowledge,selling and communication skills,appearance,and professional demeanor.
A) attitude
B) patience
C) intelligence
D) personal values
E) personal ethics
Q4) are the three major roles of personal selling in a firm's overall marketing effort?
Q5) Explain the difference between order takers and order getters.
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Chapter 21: Implementing Interactive and Multi-Channel Marketing
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Sample Questions
Q1) Frank needs to buy a new car.Before visiting a showroom,however,he logs onto www.autobytel.com.Here,he can compare the attributes of various makes and models,find information about the prices of various option packages and learn the manufacturer's suggested retail prices for different cars.After deciding on the car he wants to buy,Frank visits the local showroom and negotiates with the salesperson for the model and options package he wants.Because Frank is so well informed about prices,he is able to make a deal for several hundred dollars less than the salesperson's best offer.Frank's car buying experience illustrates which reason why consumers shop online?
A) convenience
B) communication
C) customization
D) choice
E) control
Q2) marketspace,buzz refers to __________.
A) instant messaging
B) twittering or tweeting
C) word-of-mouth behavior
D) firm-based viral marketing
E) negative or deceptive online ads
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Chapter 22: Pulling It All Together: The Strategic Marketing Process
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Q1) Explain the steps in the evaluation phase of the strategic marketing process.
Q2) Ideally,in effective marketing planning,goals should be __________ in terms of what is to be accomplished and by when.
A) consistent and straightforward
B) general and somewhat flexible
C) easily adaptive to changes in the enviro nment
D) very specific and unwavering
E) quantified and measurable
Q3) the early 1900s,Henry Ford revolutionized the automobile industry by developing production lines and mass-producing the Ford Model T automobile.By heavily reducing production costs,Henry Ford made the Model T affordable for the average American family.What generic business strategy did Henry Ford use to gain a competitive advantage in the automobile market?
A) a cost leadership strategy
B) a differentiation strategy
C) a cost focus strategy
D) a differentiation focus strategy
E) a limited production strategy
Q4) and explain two types of marketing plans.
Page 24
Q5) are the advantages and disadvantages of the product manager system?
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