Marketing Management
Final Exam Questions
Course Introduction
Marketing Management is an essential course that explores the fundamental principles and strategies of marketing in today's dynamically changing business environment. Students will learn about market research, consumer behavior, product development, pricing, distribution, and promotional tactics. The course emphasizes the development and implementation of effective marketing plans, strategic decision-making, and the use of analytical tools to solve real-world marketing problems. Through case studies and practical exercises, students gain skills to manage marketing resources, understand competitive dynamics, and create value for customers and organizations.
Recommended Textbook
Business Marketing Management B2B EMEA Edition 1st Edition by Thomas Speh
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14 Chapters
1081 Verified Questions
1081 Flashcards
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Page 2
Chapter 1: A Business Marketing Perspective
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) The technique for linking a manufacturer's operations with those of all its strategic suppliers and its key intermediaries and customers to enhance efficiency and effectiveness is called:
A)relationship marketing.
B)supply chain management.
C)global marketing.
D)consumer marketing.
Answer: B
Q2) The distinguishing characteristic(s)of foundation goods is(are)that they:
A)are capital items.
B)are expense items.
C)become part of the finished product.
D)Both (a) and (c) are true.
E)All of the above are true.
Answer: A
Q3) The intended use of the product and the intended consumer distinguishes business marketing from consumer-goods marketing.
A)True
B)False
Answer: True
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Chapter 2: Organizational Buying Behavior
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76 Flashcards
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Sample Questions
Q1) In a modified rebuy situation,the "out" supplier should do which of the following?
A)Try to move decisions makers into straight rebuy.
B)Hold the buying organization in modified rebuy status long enough to consider new alternatives.
C)Both (a) and (b).
D)Neither (a) nor (b).
Answer: B
Q2) Purchasing managers assume a dominant role in repetitive buying situations.
A)True
B)False
Answer: True
Q3) The four groups of forces that have an impact on organizational buying behavior are environmental,organizational,strategic,and individual.
A)True
B)False
Answer: False
Q4) The first stage of the Organizational Buying Process involves: Answer: Problem Recognition
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Chapter 3: Customer Relationship Management Strategies for Business Markets
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71 Verified Questions
71 Flashcards
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Sample Questions
Q1) Relationship commitment exists when one party has confidence in a partner's reliability and integrity.
A)True
B)False
Answer: False
Q2) A cross-functional process for achieving a continuing dialogue with customers,with personalized treatment of the most valuable customers and ensuring customer retention and the effectiveness of marketing initiatives is known as: Answer: Customer relationship management
Q3) Buyer-seller relationships that arise for important purchases are the ones that are more likely to involve operational linkages and high levels of information exchange.
A)True
B)False
Answer: True
Q4) When the focus of the selling firm shifts from attracting customers to keeping customers,these exchanges are best described as: Answer: Value-added exchanges
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Chapter 4: Segmenting the Business Market and Estimating
Segment Demand
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Customers that actively seek business marketing firms that can help them create new value to gain a competitive edge in their markets can be segmented using value-based strategies.
A)True
B)False
Q2) Park Rapids Electronics divides their market on the basis of NAICS category,end market served,and type of buying situation.They have also developed a special strategy for large centralized buyers.They are emphasizing:
A)macro bases of segmentation.
B)micro bases of segmentation.
C)a blend of macro and micro bases of segmentation. D)psychographic and economic bases of segmentation. E)none of the above
Q3) Compared to centralized buyers,decentralized purchasing units emphasize short-term cost efficiency.
A)True
B)False
Q4) Provide an illustration of a situation where value-in-use segmentation would seem to be especially appropriate.
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Chapter 5: Business Marketing Planning: Strategic Perspectives
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71 Flashcards
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Sample Questions
Q1) Customer interface,core strategy,strategic resources and the value network constitute the ____________________or model.
Q2) The two most common forces that divide participants during the strategy formulation process are turf issues and different thought-worlds.
A)True
B)False
Q3) Subcultures exist when one subunit shares different values,beliefs,and goals than another subunit,resulting in different____________________.
Q4) In the hierarchy of strategies,_____ strategy centers on how resources allocated to various functional areas can be used most effectively and efficiently to support the strategy of a strategic business unit.
A)functional
B)Corporate
C)business-level
D)Product
E)divisional
Q5) The ____________________clarifies the condistions that will create value for the customer.
7
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Chapter 6: Business Marketing Strategies for Global Markets
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76 Flashcards
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Sample Questions
Q1) Some research suggests that,compared to consumer goods,industrial and high-technology products may be more appropriate for global brand strategies.
A)True
B)False
Q2) Exporting involves giving up direct control of the marketing program,which often makes it difficult to coordinate activities.
A)True
B)False
Q3) Which of the following issues pose challenges to business marketers considering strategic alliance as a market entry mode?
A)Problems with maintaining alliances over time.
B)Difficult to implement alliances on a global scale.
C)Problems establishing coordination and trust.
D)All of the above.
E)(a) and (c) only.
Q4) A global industry is one in which a firm's ____________________ in one country is significantly influenced by its position in other countries.
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Chapter 7: Managing Products for Business Markets
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66 Flashcards
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Sample Questions
Q1) Because organizational buyers perceive products as bundles of attributes,the product strategist should examine the attributes that assume a central role in buying decisions.Attributes that are both important and differentiating are called:
A)primary attributes.
B)star attributes.
C)determinant attributes.
D)quality attributes.
E)dominant attributes.
Q2) A ____ establishes the distinct arena in which the business marketer competes.
A)target market
B)product market
C)market segment
D)competitive analysis
Q3) Strong brands have a personality that defines how it might be described if it had human qualities (for example,friendly,confident).
A)True
B)False
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Chapter 8: Managing Services for Business Markets
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Process delegation services (PDS)represent those services where a manufacturer performs specific processes on behalf of the customer.
A)True
B)False
Q2) A solution-centered approach starts with the product and leads to a solution that satisfies customers.
A)True
B)False
Q3) Differences between goods and services include:
A)intangibility.
B)variability.
C)profitability.
D)All of the above.
E)Only a and b.
Q4) __________________________ is the manufacturer's capacity to integrate the product and service elements of the offering early in the development process to tap the full potential for revenue generation and/or cost reduction.
Q5) Treating customers as individuals exemplifies the____________________dimension of service quality.
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Chapter 9: Managing Innovation and New Industrial
Product
Development
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74 Verified Questions
74 Flashcards
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Sample Questions
Q1) Successful new product creation is a collective achievement that requires the energy and commitment of multiple functions in the organization.Often,however,managers who represent different functional areas hold sharply different views concerning the course that product development should take.Discuss the source of this conflict.
Q2) New products ideas flow from:
A)top management who know the company's strengths and weaknesses.
B)salespersons who are close to customer needs.
C)channel members.
D)all of the above.
E)(a) and (b) only.
Q3) Product championing refers to the process of creating or adopting an idea for an innovation and actively creating momentum for the project.
A)True
B)False
Q4) Breakthrough projects center on incremental product enhancements,incremental process improvements,or incremental changes on both dimensions.
A)True
B)False
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Chapter 10: Managing Business Marketing Channels
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Sample Questions
Q1) The availability of good intermediaries and product characteristics are two factors that often limit the choice of industrial channels.
A)True
B)False
Q2) Consider a small manufacturing firm that does not have the resources or ability to hire their own sales force.As this firm considers hiring distributors and manufacturers' representatives,what factors should they use to determine whether to hire distributors,reps,or both?
Q3) The manufacturer-rep channel is generally used when the: A)gross margin is large.
B)product is not technically complex.
C)product is not standard, but is closer to made-to-order.
D)all of the above.
Q4) Explain the important product/market factors that lend themselves to the use of manufacturers' representatives by business marketers.
Q5) Industrial distributors are generally large business firms that cover broad geographical markets.
A)True
B)False
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Chapter 11: Supply Chain Management
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88 Flashcards
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Sample Questions
Q1) _____ is typically the largest logistics expense.
A)Warehousing
B)Inventory control
C)Transportation
D)Order processing
E)Materials handling
Q2) Which of the following is false regarding supply chain management?
A)The focus of logistics is the flow of product through the supply chain.
B)Timely information drives the entire supply chain process.
C)Product flow in the reverse direction is an important aspect of supply chain management.
D)The formation close relationships among participants is an inherent need of SCM.
E)All of the above are true statements.
Q3) What are the most commonly reported financial benefits that accrue to firms that excel in supply chain management?
Q4) What is the total-cost approach to developing a logistical system? Explain what variables should be considered when designing and administering a logistical system aimed at utilizing the total-cost approach.
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Chapter 12: Pricing Strategy for Business Markets
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69 Flashcards
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Sample Questions
Q1) A skimming strategy is appropriate when:
A)there is high price elasticity of demand.
B)strong threat of imminent competition.
C)the firm has a distinctly new product in a monopoly period.
D)All of the above.
E)Only (b) and (c).
Q2) Motorola introduced a new personal communicator priced at a significant premium over competing models.Initially,Motorola will concentrate on the business user but the firm plans to reduce the price later and capture a share of the consumer market.This policy of beginning with a high price and then moving to a lower price is referred to as:
A)product differentiation.
B)market segmentation.
C)price administration.
D)time segmentation.
E)life cycle pricing.
Q3) The value customers assign to a firm's offering can vary by market segment because of how the product will be used.
A)True
B)False
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Chapter 13: Business Marketing Communications
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Sample Questions
Q1) Social media:
A)are more effective than traditional media at reaching hard-to-reach prospects.
B)are typically less expensive that print media.
C)facilitate targeted, personalized contact across the customer experience landscape.
D)enhance the impact of trade promotions.
E)all of the above
Q2) In designing advertising strategy,the business marketer should first:
A)determine the size of the advertising budget.
B)select appropriate media sources.
C)determine advertising objectives.
D)develop a series of responsive messages.
E)forecast sales.
Q3) Dell Computer has been developing closer relationships with its corporate customers by setting up Web sites on internal company networks.The system enables individual employees at customer locations to easily order from a pre-approved line of Dell Computers.Discuss how Dell might use direct e-mail advertising to reach employees at these companies and reinforce its Web strategy.
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15
Chapter 14: Marketing Performance Measurement
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Sample Questions
Q1) Middle management typically has the primary responsibility for efficiency and effectiveness control.
A)True
B)False
Q2) The goal of _____ is to describe where the firm is making or losing money in terms of the important segments of its business.
A)strategic control
B)annual plan control
C)efficiency and effectiveness control
D)profitability control
Q3) Relating sales revenues and marketing costs to market segments improves decision making.
A)True
B)False
Q4) ____ is an assessment of how the firm is doing relative to competition.
A)Sales analysis
B)Expense-to-sales analysis
C)Profit analysis
D)Market share analysis
E)Segmental analysis
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