Marketing Management Exam Solutions
Course Introduction
Marketing Management is a comprehensive course that explores the fundamental concepts and strategies involved in the marketing process within organizations. It covers the principles of market analysis, segmentation, targeting, and positioning, as well as the development and implementation of effective marketing mix strategies product, price, place, and promotion. Students will gain insights into consumer behavior, competitive analysis, brand management, and digital marketing trends. Through case studies and real-world examples, the course equips learners with the analytical and decision-making skills necessary to design, execute, and evaluate marketing plans that drive business success in dynamic environments.
Recommended Textbook
MKTG 10th Edition by Charles W. Lamb
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1169 Verified Questions
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Chapter 1: An Overview of Marketing
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Sample Questions
Q1) List and define four marketing management philosophies.
Answer: Answers will vary.Four competing philosophies strongly influence an organization's marketing processes.These philosophies are commonly referred to as production,sales,market,and societal marketing orientations. A production orientation is a philosophy that focuses on the internal capabilities of a firm rather than on the desires and needs of the marketplace.A sales orientation is based on the belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits.The marketing concept is a simple and intuitively appealing philosophy that articulates a market orientation.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.REJ: Please see the section "Marketing Management Philosophies" for more information.
Q2) A market-oriented organization targets its products at "everybody" or "the average customer."
A)True
B)False
Answer: False
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Page 3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) In the context of the Boston Consulting Group's (BCG's)portfolio matrix,unlike question marks,dogs:
A)are suitable for a holding strategy.
B)have a small market share.
C)operate in a high-growth market.
D)show rapid growth but poor profit margins.
Answer: B
Q2) Eldams Inc.,a technological firm,started producing a new gaming console for its domestic market.This shows that Eldams Inc.has adopted a diversification strategy.
A)True
B)False
Answer: False
Q3) Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.
A)True
B)False
Answer: True
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Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) According to the three levels of ethical development,which of the following statements is true of conventional morality?
A)It is the most basic level of ethical development
B)A person at this level performs unethical and manipulative actions.
C)It is predominantly characterized by an egocentric viewpoint of an individual.
D)A person at this level is concerned how an action will be viewed by others
Answer: D
Q2) Cause-related marketing is a marketing relationship based on a straight donation. A)True
B)False Answer: False
Q3) Postconventional morality represents the morality of the mature adult.
A)True
B)False
Answer: True
Q4) Sustainability is a popular theory in cause-related marketing. A)True
B)False Answer: False
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Chapter 4: The Marketing Environment
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Sample Questions
Q1) _____ is charged with enforcing regulations against selling and distributing adulterated,misbranded,or hazardous food and drug products.
A)The Association for Prohibition of Adulteration
B)The General Food Regulations
C)The Consumables Protection Bureau
D)The Food and Drug Administration
Q2) Joshua,an HR manager in a multinational firm,is recruiting employees for his firm.During the self-introduction stage,one of the interviewees,Martha,shares information about herself.In this case,which of the following information shared by Martha is a demographic characteristic?
A)She lives in Manhattan.
B)She believes in social service.
C)She is very creative when it comes to cooking.
D)She prefers to use electronic gadgets of only one particular brand.
Q3) Discuss a few strategies for marketing products to baby boomers.
Q4) Age is the primary determinant of the person's earning potential.
A)True
B)False
Q5) Discuss competitive factors that affect a firm.
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) The surge in global trade in recent years has added to strains and charges for all forms of transport.
A)True
B)False
Q2) Melrow Inc.,a U.S.firm,suffers heavy losses and lays off many of its employees.As a measure to reduce its manufacturing costs,it shifts its production units to another country where labor costs are less.In this scenario,Melrow Inc.is engaged in _____.
A)licensing
B)outsourcing
C)franchising
D)inshoring
Q3) Aztic Inc.,a manufacturer of sports goods,plans to expand its operations to various other countries.During market research,it avoids countries where the dominant population is mostly rural.In this case,Aztic Inc.is assessing the _____ of the countries.
A)political structure
B)natural resources
C)legal environment
D)demographic makeup
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) Sam uses public transport to commute to work.However,he has always wanted to own a car and believes commuting by car will save time.This scenario exemplifies Sam's
A)selective retention
B)cognitive dissonance
C)value
D)want
Q2) In the context of the purchase process of a family,_____ are members who suggest or plant the seed for the purchase process.
A)influencers
B)purchasers
C)consumers
D)initiators
Q3) Discuss the importance of understanding consumer behavior.
Q4) Which of the following is an individual characteristic that influences a person's buying decisions?
A)Gender
B)Culture
C)Motivation
D)Learning
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Chapter 7: Business Marketing
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Sample Questions
Q1) The goal of business-to-business exchanges is to simplify business purchasing and to make it more efficient.
A)True
B)False
Q2) Which of the following statements is true of raw materials used as business products?
A)Promotion of raw materials is almost always promoted via mass advertising.
B)They are usually sold in large quantities.
C)Individual producers have great flexibility in the pricing of raw materials.
D)They are finished items ready for assembly.
Q3) Casca Paints Inc.,a manufacturer of paints and emulsions,owns a user-friendly Web site.The Web site allows customers to upload pictures of their house and select the colors that best match their expectations.Donnel Designs Inc.,an interior decoration firm,enters into a partnership with Casca Paints Inc.As a result,customers can now get a complete interior design solution for their houses.This is an example of a _____.
A)straight rebuy
B)golden handshake
C)negative inventory
D)strategic alliance
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Page 9
Chapter 8: Segmenting and Targeting Markets
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Q1) In the context of strategies for selecting target markets,which of the following is a disadvantage of an undifferentiated targeting strategy?
A)It is difficult to tailor marketing mixes to the preferences of individual market segments
B)It often results in sterile, unimaginative product offerings that have little appeal to anyone
C)It results in cannibalization of products
D)It increases production and marketing costs of a firm
Q2) With the personal and targeted nature of customer relationship management,consumers spend more time making purchase decisions.
A)True
B)False
Q3) How do marketers use customer relationship management (CRM)as a targeting tool?
Q4) Discuss the reasons why consumer goods companies adopt geographic segmentation as their approach to market segmentation.
Q5) Explain the steps followed in segmenting a market
Q6) Discuss the ways in which market segmentation can be useful to marketers.
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Page 10
Chapter 9: Marketing Research
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Sample Questions
Q1) The management of Vaikel Inc.,an automobile manufacturer,is conducting a survey to find out people's opinions about its latest car,Vaikel 6.0,and their level of satisfaction after using the car.It requests some customers who recently purchased Vaikel 6.0 to participate in the survey and asks them to log on to the company Web site at a given time.After they log on to the site,a moderator runs a discussion about the car and allows the customers to respond.In this case,Vaikel is using a(n)_____ to conduct the survey.
A)online panel provider
B)Web community research program
C)online focus group
D)Web survey system
Q2) Which of the following is an advantage of primary data?
A)Gathering primary data is less expensive than gathering secondary data.
B)They answer specific research questions that secondary data cannot answer.
C)They consist of data that are easily available to any interested party.
D)Conducting in-person interviews is an expensive method of gathering primary data.
Q3) Differentiate between the different types of questions that are used in questionnaires.
Q4) Discuss the benefits of Web community research in conducting online surveys.
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Chapter 10: Product Concepts
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Sample
Questions
Q1) Gypsy Foods Inc.is a multinational food and beverage company.Its labels are colorful and project the words 'new' and 'improved' along the product's name.The packages do not provide details about the product's ingredients.In this case,Gypsy Foods is using
A)persuasive labeling
B)informational labeling
C)perspective labeling
D)cooperative labeling
Q2) _____ occurs when two brands receiving equal treatment borrow from each other's brand equity.
A)Ingredient branding
B)Cooperative branding
C)Complementary branding
D)Family branding
Q3) Services and ideas are not considered products because they are intangible.
A)True
B)False
Q4) Define express and implied warranty.
Q5) Discuss the concept of planned obsolescence.
Q6) Explain the importance of product offerings in creating a marketing mix.
Page 12
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) In the context of the new-product development process,which of the following statements is true of the business analysis stage?
A)Depending on the nature of the product and the company, this process may be simple or complex.
B)Forecasting market share for a new entry in a new, fragmented, or relatively small niche market is easy.
C)The newness of the product, the size of the market, and the nature of the competition do not affect the accuracy of revenue projections.
D)Costs increase dramatically once a product idea enters the business analysis stage.
Q2) In which of the following ways does the product life cycle concept help marketing managers?
A)It tells managers the length of a product's life cycle.
B)It can be used to analyze a brand, a product form, or a product category.
C)It dictates the marketing strategy to be used for a product.
D)It informs marketers about the duration of a product in the various stages of its life cycle.
Q3) Describe the growth stage of the product life cycle (PLC).
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Page 13
Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) The North Star Hotel,a luxury hotel,encourages its employees to develop strong,personal relationships with guests.It offers customized toiletries to its customers based on their preferences.It also has an entire floor dedicated to suites that have air purification systems.These value-added services make The North Star Hotel unique as these services are not available at other hotels.In this scenario,The North Star Hotel is at the _____ of relationship marketing.
A)financial level
B)social level
C)customization level
D)structural level
Q2) An online money transfer company that allows consumers to send money directly to bank accounts in several countries around the world is an example of a service firm.
A)True
B)False
Q3) Which of the following statements is true of mass customization?
A)It focuses on customizing rather than standardizing products.
B)It cannot cater to the needs of different customer groups.
C)It uses technology to customize the products of a firm.
D)It does not respond to individual customers' needs.
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Page 14
Chapter 13: Supply Chain Management and Marketing Channels
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Sample Questions
Q1) Marketing channels attain economies of scale:
A)through minimum interaction with suppliers.
B)by aiding downstream producers to consumers.
C)by providing form utility to producers.
D)through specialization and division of labor.
Q2) The best order fulfillment processes increase order cycle time.
A)True
B)False
Q3) Nessca Solutions Inc.has recently created a hardware and software system for transmitting data among different departments within Nessca Solutions Inc.The system provides an easy and quick way of exchanging information.This has increased the firm's efficiency while reducing costs.This is an example of _____.
A)technology and planning integration
B)customer integration
C)material and service supplier integration
D)measurement and feedback integration
Q4) What is the manufacturing flow management process? Briefly explain the differences between lean and agile supply chain strategies.
Q5) What are the disadvantages of globalizing a company's supply chain?
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Chapter 14: Retailing
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Q1) Floor stock refers to the inventory held in reserve for potential future sale in a retailer's storeroom or stockroom.
A)True
B)False
Q2) Unlike nonstore retailing,in-store retailing enables customers to shop without visiting a physical store location.
A)True
B)False
Q3) Why is it important to maintain service quality in service industries? Explain the four areas that service distribution should focus on to maintain the quality of service.
Q4) _____ is a form of nonstore retailing that entails the use of machines to offer goods for sale.
A)Direct retailing
B)Telemarketing
C)Automatic vending
D)E-tailing
Q5) Briefly explain the actions a retailer should take to address retail product/service failures.
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Chapter 15: Marketing Communications
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Sample Questions
Q1) Which of the following is a difference between a push and a pull strategy?
A)Social media is used in a push strategy, while personal selling is used in a pull strategy.
B)Wholesalers are targeted in a push strategy, while end consumers are targeted in a pull strategy.
C)A push strategy focuses on content marketing, while a pull strategy focuses on offering aggressive discounts.
D)No intermediaries are involved in a push strategy, while wholesalers and retailers are involved in a pull strategy.
Q2) The researchers at Beans Inc.,a coffee manufacturing company,developed a new variety of high-quality ground coffee.The new variety was priced at a comparatively lower price than those available in the market.Therefore,the advertisements for the product stated,"The highest quality coffee does not have to be expensive." This is an example of communicating a product's _____.
A)marketing mix
B)product parity
C)competitive advantage
D)competitive parity
Q3) Briefly explain the AIDA model.
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Chapter 16: Advertising, Public Relations and Sales Promotion
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Q1) Which of the following statements is true of pioneering advertising?
A)It offers consumers in-depth information about the benefits of the product class.
B)It is heavily used during the growth stage of the product life cycle.
C)It focuses on influencing demand for a specific brand over other brands.
D)It is used mainly to compare brands on one or more specific attributes.
Q2) _____ is the ability of an advertising medium to reach a precisely defined market.
A)Audience selectivity
B)Target sensitivity
C)Projection efficiency
D)Target efficiency
Q3) Reach is related to a medium's ratings,generally referred to in the industry as:
A)gross ratings points.
B)cost per rating points.
C)gross review points.
D)target ratings points.
Q4) Newspapers and magazines have a high noise level.
A)True
B)False
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Chapter 17: Personal Selling and Sales Management
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Q1) Which of the following is a combination of sales automation and Internet technology that some marketers are using in an effort to enhance customer satisfaction and bring in more business?
A)Preapproach model
B)Attribution model
C)Geolocation
D)Automated e-mail follow-up marketing
Q2) Which of the following makes it necessary for salespeople to conduct thorough and continued follow-up with the clients?
A)Conducting postsales follow-up gives rise to cognitive dissonance.
B)In present times, customers are more loyal toward brands and vendors than before.
C)Most businesses depend on repeat sales, which depend on follow-up by the salesperson.
D)Buyers are more inclined to look for the best deal when they experience good postsale follow-up.
Q3) A good salesperson perceives objections as a hindrance to the purchase decision.
A)True
B)False
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Chapter 18: Social Media and Marketing
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Sample Questions
Q1) Twitpic,Flickr,and Photobucket are all examples of:
A)media sharing sites.
B)corporate blogs.
C)virtual worlds.
D)microblogs.
Q2) Wennel Inc.,an animal welfare organization,uses its Facebook page to advertise its products to veterinarians,cat food providers,and care takers.In this case,which of the following statements is true of Wennel Inc.?
A)Wennel Inc. is involved in crowdsourcing.
B)Wennel Inc. is engaged in one-to-many communication rather than many-to-many communication.
C)Wennel Inc. controls the message, the medium, and the response.
D)Wennel Inc. forges deeper relationships and builds brand loyalty through social media.
Q3) Explain the reasons for the recent popularity of mobile marketing.
Q4) Review sites lack the scope for two-way interaction between the marketers and consumers.
A)True
B)False
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) Discuss the factors that affect elasticity of demand.
Q2) Compare price skimming and penetration pricing.
Q3) Illustrate with examples how price plays a role in promotion strategies for products.
Q4) Britney,a teenager,startsher own business of selling cupcakes to coffee shops and restaurants.She strives to increaseeither the market share in terms of the revenue generated or the number of cupcakes sold.This is an example of _____.
A)status quo pricing
B)profit-oriented pricing objective
C)bait pricing
D)sales-oriented pricing objective
Q5) _____ is the quantity of a product that will be offered to the market by a supplier at various prices for a specified period.
A)Demand
B)Supply
C)Market share
D)Product share
Q6) Briefly explain how distribution strategy acts as a determinant of price.
Q7) Discuss how shopping bots help consumers with their purchase decisions.
Page 21
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