Marketing Management Exam
Bank
Course Introduction
Marketing Management is a comprehensive course designed to equip students with the foundational concepts, strategies, and analytical tools essential for effectively managing marketing functions in organizations. The course covers key topics such as market research, consumer behavior, segmentation, targeting, positioning, product development, pricing strategies, distribution channels, integrated marketing communications, and digital marketing. Through case studies and practical applications, students will learn how to develop and implement marketing plans, assess market opportunities, and make informed decisions to achieve organizational goals in a dynamic and competitive environment.
Recommended Textbook
Marketing Real People Real Choices 9th Edition by Michael
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14 Chapters
2209 Verified Questions
2209 Flashcards
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Page 2
R. Solomon
Chapter 1: Welcome to the World of Marketing: Create and Deliver Value
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151 Verified Questions
151 Flashcards
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Sample Questions
Q1) The consumer orientation maintains that marketers must satisfy customers' needs in ways that also benefit society.
A)True
B)False
Answer: False
Q2) A ________ orientation is a management philosophy that focuses on ways to satisfy customers' needs and wants.
A) consumer
B) promotion
C) selling
D) production
E) quality
Answer: A
Q3) Select one real company located in your home state. Identify at least four different types of stakeholders in this company.
Answer: Each student will present different information in responding to this question. Stakeholders should include the company's customers, the company's employees, investors in the company, and residents of the community.
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Chapter 2: Global, Ethical, and Sustainable Marketing
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) When considering the four Ps in international marketing, advocates of ________ focus on the similarities among cultures and argue that basic needs and wants are the same everywhere.
A) nationalization
B) standardization
C) localization
D) expropriation
E) ethnocentricism
Answer: B
Q2) Through ________ competition, competitors offer different goods and services that attempt to satisfy the same consumers' needs and wants.
A) discretionary income
B) product
C) brand
D) monopolistic
E) oligopolistic
Answer: B
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Page 4
Chapter 3: Strategic Market Planning
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156 Verified Questions
156 Flashcards
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Sample Questions
Q1) Vice presidents of large companies are typically in charge of ________ planning.
A) business
B) strategic
C) operational
D) functional
E) day-to-day
Answer: D
Q2) After initially targeting young game-playing consumers with its Wii home gaming system, Nintendo introduced the Wii system to older consumers in retirement homes for light exercise. Explain the kind of growth strategy Nintendo used. Answer: Market development strategies introduce existing products to new markets. This can mean reaching new customer segments within an existing geographic market, or it may mean expanding into new geographic areas. Nintendo's Wii target market was originally the young game-playing consumer.
Q3) Typically, each element of an action plan is linked to a budget item.
A)True
B)False
Answer: True
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5
Chapter 4: Market Research
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) An advertising agency's research division sends researchers into homes with handheld video cameras to get pictures of how and why people use products. What method of research is this advertising agency implementing? Explain your answer.
Q2) The first step in the market research process is to ________.
A) determine how data will be collected
B) select samples
C) clearly understand the information needed by managers
D) set the mission statement for the research
E) determine a research design
Q3) Every six months, Doug is asked to fill out a survey asking when he expects to buy a new vehicle and what type and model he plans to purchase. Doug, along with a group of consumers with similar buying habits, has been participating in this survey for the last eight years. The gathering of this quantitative data is an example of descriptive research using ________.
A) a hierarchical format
B) a cross-sectional design
C) latitudinal tracking
D) a longitudinal design
E) ethnography
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Page 6
Chapter 5: Marketing Analytics: Welcome to the Era of Big Data
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Some cellular providers are signing deals with business partners wanting to market products based on specific phone users' locations and calling habits. These cellular providers are participating in a new trend called ________.
A) telemarketing
B) data warehousing
C) reality mining
D) virtual mining
E) prediction marketing
Q2) It is more difficult to determine the ROI on traditional media efforts such as TV commercials than the ROI on digital media efforts such as banner ads.
A)True
B)False
Q3) Explain two reasons that digital marketing has become an increasingly important element of the marketer's toolbox.
Q4) Explain how a sporting goods retailer could use both structured and unstructured data to retain customers.
Q5) Explain the philosophy of customer relationship management (CRM).
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Q6) Explain the relationship between one-to-one marketing and CRM.
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Chapter 6: Understand Consumer and Business Markets
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155 Flashcards
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Sample Questions
Q1) High-involvement purchase decisions likely involve extended problem solving.
A)True
B)False
Q2) A new-task buy ________.
A) requires less time and effort than a modified rebuy
B) cannot be used if the buyer uses single sourcing
C) is characterized by uncertainty and high risk
D) is similar to routine decision making in the consumer market
E) begins with a SWOT analysis
Q3) To purchase an item from an Internet site, you will be asked to provide a credit card number. Because of ________, a computer hacker who intercepts this number as it is being sent to the seller would likely see £D¥$&0PDJLJL, or something equally as meaningless.
A) decoding
B) back-translation
C) encryption
D) the firewall
E) malware
Q4) Briefly describe each step in the consumer decision-making process.
Q5) How does reverse marketing work?
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Chapter 7: Segmentation, Target Marketing, and Positioning
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Hispanic Americans are the fastest-growing minority group in the United States.
A)True
B)False
Q2) Which of the following is a segmentation technique that combines geography with demographics?
A) geocoding
B) geodemography
C) geodiversity
D) geotargeting
E) psychographics
Q3) Mass marketers such as Walmart often ignore market segment differences and target the whole market with one offer. What is this approach to targeting?
A) undifferentiated targeting
B) differentiated targeting
C) target marketing
D) concentrated targeting
E) mass customization
Q4) Identify three forms of competitive advantage a product could offer.
Q5) Explain the major steps in the target marketing process.
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Chapter 8: Product I: Innovation and New Product Development
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Which of the following new products had the greatest degree of observability when it was introduced?
A) nail clippers designed to prevent ingrown toenails
B) Tylenol PM, a nonprescription sleep aid
C) Dr. Scholl's shoe inserts
D) Splenda sugar substitute
E) rollerblades
Q2) Why would a company create a knockoff of a product?
Q3) Which of the following is NOT one of the five characteristics of innovations that affect the rate of adoption?
A) relative advantage
B) tangibility
C) observability
D) trialability
E) compatibility
Q4) Consumers' perception of relative advantage would help determine the success of a new magazine targeted to girls between the ages of 14 and 17.
A)True
B)False
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Chapter 9: Product Ii: Product Strategy, Branding, and Product Management
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) Whenever a product line or a product family is extended, there is a risk of ________, which occurs when sales of an existing brand decline as the firm's current customers switch to the new product.
A) product line contraction
B) disintermediation
C) cannibalization
D) brand inequity
E) brand equity
Q2) Which of the following is a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement of all aspects of the company's operations?
A) cannibalization
B) total quality management (TQM)
C) Six Sigma
D) ISO 9000
E) ISO 14000
Q3) What are the four "easy" tests brand designers use in selecting a good brand name? Choose a brand and explain how it passes these tests.
Q4) Identify four different possible meanings of product quality.
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Chapter 10: Price: What Is the Value Proposition Worth
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162 Verified Questions
162 Flashcards
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Sample Questions
Q1) When Circuit Town Electronics sets its televisions at three price levels of $699, $899, and $1,099, it is most likely using ________.
A) price fixing
B) price lining
C) penetration pricing
D) skimming pricing
E) loss leader pricing
Q2) When Home Depot stores entered the Canadian market, there were already stores providing similar services and products. To get people to try Home Depot, the chain deliberately sold merchandise below the price that the Canadians were used to. What type of pricing objective did Home Depot use?
A) market share
B) profit
C) competitive effect
D) customer satisfaction
E) image enhancement
Q3) How do consumers benefit from price bundling? Give an example of price bundling.
Q4) How does the airline industry implement the yield management pricing strategy?
Q5) What are the advantages and disadvantages of using demand-based pricing?
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Chapter 11: Deliver the Goods: Determine the Distribution Strategy
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161 Verified Questions
161 Flashcards
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Sample Questions
Q1) Which of the following statements about manufacturers' agents is true?
A) Manufacturers' agents are also called manufacturers' brokers.
B) Manufacturers' agents most typically work for only one manufacturer.
C) Manufacturers' agents are compensated with commissions based on a percentage of what they sell.
D) Manufacturers' agents have unlimited sales territories.
E) Manufacturers' agents are entirely supervised by the manufacturer for whom they sell.
Q2) Rack jobbers are important to both the producers and the customers of bulky products such as coal, oil, or lumber.
A)True
B)False
Q3) To a producer of goods, a greater number of channel levels means ________.
A) less distance between producer and end consumer
B) less control
C) more creativity
D) higher taxes
E) multiple distribution systems
Q4) Explain channel power in a vertical marketing system.
Q5) How might a channel leader stimulate channel cooperation?
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Chapter 12: Deliver the Customer Experience: Goods and Services Via
Bricks and Clicks
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) Pier 1 Imports started as a single store in San Mateo, California, offering low-priced beanbags, love beads, and incense to baby boomers. Today it sells quality home furnishings and decorative accessories. Why is Pier 1 Imports a perfect case study of the wheel-of-retailing hypothesis?
Q2) Off-price retailers obtain surplus merchandise from manufacturers and offer brand-name, fashion-orientated goods at low prices.
A)True
B)False
Q3) Which of the following types of retailers place the most emphasis on salespeople assisting customers throughout the purchase process?
A) limited-service retailers
B) full-service retailers
C) self-service retailers
D) discount retailers
E) off-price retailers
Q4) Explain how the gap between service quality standards and customer expectations can occur. How can it be avoided?
Q5) Describe the practice of retail borrowing and explain why it is unethical.
Page 14
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Chapter 13: Promotion I: Advertising and Sales Promotion
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Briefly describe four main objections to advertising.
Q2) An office supply store that pays a discounted price when it orders more than 12 metal filing cabinets is receiving a(n) ________.
A) merchandising allowance
B) promotional product
C) case allowance
D) co-op promotion
E) incentive program
Q3) Why might a company address the issue of noise, as defined in the communication model, by purchasing a block of pages in a magazine to advertise its brand?
Q4) An ad for Ford did not advertise any cars, but instead explained the meaning of the company's slogan, "no boundaries." This ad is an example of ________.
A) product advertising
B) a sales promotion
C) institutional advertising
D) advocacy advertising
E) retail advertising
Q5) Explain the difference between the practices of forward buying and diverting.
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Chapter 14: Promotion Ii: Social Media, Directdatabase
Marketing, Personal Selling, and Public Relations
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) Southern Security makes safes for storing valuables. When Ed sold safes for the company, he sometimes told a prospect, "The model safe you are looking at is on sale this week. If you wait until next week to buy, you will spend $100 more." When Ed used this approach, he was using the ________ close.
A) canned
B) standing-room-only
C) assumptive
D) minor points
E) stimulus-response
Q2) Annual and quarterly financial reports are both examples of ________ activities.
A) lobbying
B) corporate identity
C) sponsorship
D) investor relations
E) media relations
Q3) A representative for Tupperware who is implementing a party plan, demonstrating and selling products at a social gathering of friends, is using direct selling.
A)True
B)False
Page 16
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