Marketing Management
Final Exam Questions
Course Introduction
Marketing Management provides students with a comprehensive understanding of marketing principles and practices essential for formulating, implementing, and evaluating marketing strategies in various organizational contexts. The course explores key concepts such as market analysis, consumer behavior, segmentation, targeting, positioning, product development, pricing strategies, promotion, and distribution channels. Through case studies and real-world examples, students will learn how to make informed decisions to effectively meet customer needs, create value, and achieve competitive advantage in dynamic business environments.
Recommended Textbook
Essentials of Marketing 15th Edition by William Perreault
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21 Chapters
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Page 2
Chapter 1: Marketings Value to Consumers, Firms, and Society
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381 Verified Questions
381 Flashcards
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Sample Questions
Q1) The marketing concept says that a firm should aim all its efforts at satisfying customers,even if this proves to be unprofitable.
A)True
B)False
Answer: False
Q2) Marketing means ______.
A) distribution.
B) making good products
C) more than selling and advertising
D) promotion
E) performing services
Answer: C
Q3) Macro-marketing emphasizes the activities of individual organizations.
A)True
B)False
Answer: False
Q4) Gun control is an example of the micro-macro dilemma.
A)True
B)False
Answer: True
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Chapter 2: Implementing and Controlling Marketing Plans:
Evolution and Revolution
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Sample Questions
Q1) The contribution-margin approach focuses attention on _____ rather than on ______.
A) fixed costs; variable costs
B) gross margins; net margins
C) total costs; fixed costs
D) overheads; fixed costs
E) variable costs; total costs
Answer: E
Q2) Whistler's Camping Supplies wants to identify its most frequent customers and offer them quantity discounts to increase their purchases and loyalty.Which of the following implementation approaches might address that problem?
A) Put a toll-free telephone number and Web site address on the product label.
B) Use bar code scanners, RFID tags, EDI, and inventory reorder software.
C) Create a "favored customer" club with an ID card.
D) Set different prices in similar markets and track sales, including sales of competing products.
E) Set up a televideo conference.
Answer: C
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Chapter 3: Marketing Strategy Planning
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Sample Questions
Q1) Price is the most important of the four Ps.
A)True
B)False Answer: False
Q2) Which of the following statements about operational decisions is FALSE?
A) They help to carry out a marketing strategy.
B) They are short-run decisions.
C) They are part of the implementation process.
D) They usually require ongoing changes in the basic strategy to be effective.
Answer: D
Q3) The marketing management process is the process of:
A) Planning marketing activities.
B) Implementing marketing plans.
C) Controlling marketing plans.
D) All of these.
Answer: D
Q4) A channel of distribution must include an intermediary.
A)True
B)False Answer: False
Page 5
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Chapter 4: Managing Marketings Link With Other Functional Areas
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Sample Questions
Q1) If demand is irregular,a firm's production flexibility is likely to influence the severity of stock-out problems in the channel of distribution.
A)True
B)False
Q2) Problems of matching supply and demand often occur when a marketing plan calls for quick expansion into many different types of channels.
A)True
B)False
Q3) The first step in marketing cost analysis is to reclassify all the dollar cost entries in the natural accounts into functional cost accounts.
A)True
B)False
Q4) A company with a successful marketing strategy has its own internal source of funds-profits.
A)True
B)False
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Page 6
Chapter 5: Evaluating Opportunities in the Changing
Market Environment
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Sample Questions
Q1) According to the "continuum of environmental sensitivity," which of the following types of products would be most insensitive to environmental changes?
A) Basic commodity-type consumer products
B) Industrial products
C) Consumer products that are tied to cultural variables
D) Consumer products closely linked to social variables
Q2) Objectives should set the firm's course.
A)True
B)False
Q3) Which of the following countries has the fastest projected population growth between 2013 and 2025?
A) United Kingdom
B) Canada
C) Germany
D) United States
E) Ethiopia
Q4) Good marketing objectives should be ambitious and almost impossible to achieve.
A)True
B)False
Page 7
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Chapter 6: Focusing Marketing Strategy With Segmentation and Positioning
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Sample Questions
Q1) A pencil,a dictating machine,and a word processor might compete in the same A) target market.
B) generic market.
C) product-market.
D) Any of these could be correct.
Q2) A variant of the clustering approach relies on ____,where the seller adjusts the marketing effort with information from a database with customer information.
A) customer relationship management
B) corporate governance
C) social audit
D) cluster sampling
E) data warehouse management
Q3) The MOST USEFUL dimensions for segmenting markets are:
A) geographic and demographic dimensions.
B) brand familiarity and consumption patterns.
C) social class.
D) benefits sought.
E) it depends on what product-market one is segmenting.
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Chapter 7: Final Consumers and Their Buying Behavior
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Sample Questions
Q1) On his way to a GM dealership to pick up a new truck he has purchased,Ian Mann hears a Ford ad that says that Ford trucks have more power than Chevy trucks.Ian thought that the ad said that the Chevys had more power.This illustrates ______.
A) selective perception
B) learning
C) selective retention
D) reinforcement
E) selective exposure
Q2) When a consumer actually purchases a particular product it is the direct result of a ______.
A) need
B) want
C) drive
D) desire for physical well-being
E) None of these is more true than the others.
Q3) Marital status,age,and the age of any children in a household are the three demographic dimensions that determine stage of family life-cycle.
A)True
B)False
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Page 9
Chapter 8: Business and Organizational Customers and Their Buying Behavior
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Sample Questions
Q1) Committee buying in large retail chains
A) makes the buyers work as a group and thus lower costs.
B) allows a sales rep to avoid a difficult buyer.
C) makes it difficult for the seller to see a buyer personally.
D) reduces the impact of a persuasive sales rep.
E) All of these alternatives are correct.
Q2) When a company creates a rating form for its suppliers and rates their on-time delivery,product quality,service advice,and so forth,in order to determine which suppliers to put on an approved list of suppliers for specific products,this process is called a(n)________.
A) JIT rating
B) resident buyer analysis
C) vendor analysis
D) ISO 9000 certification
E) buying center analysis
Q3) The Internet is making even straight rebuys more competitive.
A)True
B)False
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Chapter 9: Improving Decisions With Marketing Information
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Sample Questions
Q1) Which of the following statements about the cost and value of information is False?
A) Dependable information can be expensive.
B) Managers rarely get all the information they would like to have.
C) Money may be wasted if a manager ignores the facts revealed in a marketing research study and bases his/her decisions on guesswork.
D) The cost of gathering additional information is always justified by its value.
E) All of these statements are False.
Q2) Secondary data involves information that has been collected or published already. A)True
B)False
Q3) Use of the scientific method in marketing research forces researchers to use an inflexible process.
A)True
B)False
Q4) The Internet is an excellent source for primary data,but not secondary data.
A)True
B)False
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Chapter 10: Elements of Product Planning for Goods and Services
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Sample Questions
Q1) The _____ spells out what kinds of marks including brand names can be protected and the exact method of protecting them.
A) Magnuson-Moss Act
B) Federal Fair Packaging and Labeling Act
C) Lanham Act
D) Wagner Act
E) Licenses Act
Q2) A product line is a set of individual products that are closely related in which of the following ways?
A) They are sold to the same target market.
B) They are produced and/or operate in a similar manner.
C) They are priced at about the same level.
D) They are sold through the same type of outlets.
E) Any or all of these alternatives are correct.
Q3) Impulse products:
A) can have limited availability as long as display is good.
B) need widespread distribution with display at point of purchase.
C) need enough exposure to facilitate price comparisons.
D) need adequate representation in major shopping areas.
E) need widespread distribution at low cost.
Page 12
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Chapter 11: Product Management and New-Product Development
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256 Flashcards
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Sample Questions
Q1) Product managers ______.
A) are especially common in large companies
B) are sometimes responsible for a product's whole marketing effort
C) coordinate their efforts with individuals within and outside the company
D) may serve as "product champions" in planning and implementing the promotion effort
E) All of these alternatives are correct.
Q2) The stage of the product life cycle characterized by informative promotion but little customer awareness of a product is ______.
A) market introduction
B) market growth
C) market maturity
D) sales decline
E) market extinction
Q3) The strategies for all stages of the product life cycle should be growth strategies.
A)True
B)False
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Page 13
Chapter 12: Place and Development of Channel Systems
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Sample Questions
Q1) Management contracting is a relatively low risk way of entering foreign markets,since no commitment is made to fixed facilities.
A)True
B)False
Q2) A channel captain helps direct the activities of a whole channel and tries to avoid or solve channel conflicts.
A)True
B)False
Q3) Manufacturers are sometimes forced to use "multichannel distribution" because their present channels are doing a poor job or are not reaching some potential customers.
A)True
B)False
Q4) "Sorting" means separating products into grades and qualities desired by different target markets.
A)True
B)False
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Chapter 13: Distribution Customer Service and Logistics
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Sample Questions
Q1) When a firm skips the distribution center concept and ships products directly from the manufacturing site to retail stores,the products may move more quickly but at a higher cost.
A)True
B)False
Q2) When a supplier's computer automatically processes an online order from a customer,schedules production activities for the order,and then sets up delivery of the finished product to the customer,what approach is being used?
A) Fast-schedule method
B) Electronic data interchange (EDI)
C) Containerization technique
D) Just-in-time (JIT) delivery systems
E) Contractual method
Q3) Compared to a public warehouse,a private warehouse ________.
A) requires no fixed investment
B) has lower unit costs even if volume is low
C) has less flexibility
D) lacks convenience for product line
E) has less managerial control
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Page 15
Chapter 14: Retailers, Wholesalers, and Their Strategy Planning
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Sample Questions
Q1) The development of department stores and supermarkets is explained by the "wheel of retailing" theory.
A)True
B)False
Q2) A retailer that buys from a rack jobber needs to have an employee who is a specialist in the products the rack jobber handles.
A)True
B)False
Q3) Manufacturers' agents earn higher commissions for introducing new products than they do for selling established products.
A)True
B)False
Q4) The development of vending machines and convenience food stores is not explained by the "wheel of retailing" theory.
A)True
B)False
Q5) Franchising now accounts for about a third of all retail sales.
A)True
B)False
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Chapter 15: Promotion-Introduction to Integrated Marketing Communications
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Sample Questions
Q1) A retailer's target customers are young,well educated,and mobile-with many contacts outside their local social group and community.They are eager to try new ideas and are willing to take risks.These target customers are
A) innovators.
B) laggards.
C) early adopters.
D) the late majority.
E) the early majority.
Q2) The AIDA model
A) focuses on what happens after the adoption process is complete.
B) shows that the promotion effort is done once desire is aroused.
C) consists of four basic promotion jobs.
D) suggests that mass media can get consumers' attention only if that is what consumers desire.
E) All of these alternatives about the AIDA model are true.
Q3) In customer-initiated communication,the source decides how much information to send.
A)True
B)False
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Chapter 16: Personal Selling and Customer Service
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Sample Questions
Q1) Some salespeople are expected to act as "marketing managers" in their own geographic territories and decide:
A) how they will allocate their promotion money and their own time.
B) which customers they will target.
C) which intermediaries they will rely on or help.
D) which products in the company's line they will push aggressively.
E) All of these decisions are correct.
Q2) Which of the following steps in the personal selling process typically occurs before the target customer is selected?
A) Follow up after sales call
B) Preplan sales call
C) Make sales presentation
D) Set effort priorities
E) Close sale
Q3) A weakness of the canned approach is that it treats all potential customers differently.
A)True
B)False
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18
Chapter 17: Advertising and Sales Promotion
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Sample Questions
Q1) In its ads,General Mills highlights the advantages of its Milk 'n Cereal breakfast bars over Kellogg's breakfast bars.This is:
A) comparative advertising.
B) primary advertising.
C) selective advertising.
D) reminder advertising.
E) institutional advertising.
Q2) When a firm's president appears in TV testimonial ads to assure customers,employees,and stockholders that the firm is making a fast recovery from some problem,this is:
A) institutional advertising.
B) reminder advertising.
C) competitive advertising.
D) comparative advertising.
E) pioneering advertising.
Q3) Mobile devices track customers' whereabouts through GPS and the segmenting dimension of physical location at a specific time can be added to target marketing.
A)True
B)False
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Page 19
Chapter 18: Publicity: Promotion Using Earned Media, Owned
Media, and Social Media
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Sample Questions
Q1) A customer who shares his or her views of a firm's product and gets attention from other customers who respect the views is referred as a(n)________.
A) intermediary
B) product assessor
C) promotion advisor
D) opinion leader
E) market researcher
Q2) SweetSpot Inc.,a beverage producer,uses the promotional messages generated by its internal team and communicates through its website and Facebook page.What is the advantage SweetSpot derives by this approach?
A) Most trusted information source
B) More precise targeting
C) Manage and maintain without resources
D) Versatility in message content and format
E) Potentially large audience
Q3) Though earned media is not a trusted source of information,it can be easily measured and targeted.
A)True
B)False
Page 20
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Chapter 19: Pricing Objectives and Policies
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Sample Questions
Q1) Introductory price dealing means setting a low "penetration" price early in the product life cycle to discourage competitors from entering the market.
A)True
B)False
Q2) Calumet Pottery Supply allows a 10 percent reduction off its list price of Jepson clay whenever an intermediary orders more than 100 cases in one shipment.This is a
A) cash discount.
B) seasonal discount.
C) cumulative quantity discount.
D) PM.
E) noncumulative quantity discount.
Q3) If a seller wanted to pay the delivery charges and keep title to the products until delivered to a buyer,the seller could use "F.O.B.buyer's factory" geographic pricing terms.
A)True
B)False
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Chapter 20: Price Setting in the Business World
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Sample Questions
Q1) An advantage of average-cost pricing is that it considers competitors' costs and prices.
A)True
B)False
Q2) The Roulette Corporation,a video game manufacturer,sets a single price for a set of 5 video games,a video game console,and a pair of speakers.This pricing strategy is called _____.
A) full-line pricing
B) complementary product pricing
C) product-bundle pricing
D) bid pricing
E) psychological pricing
Q3) Which of the following statements is true about break-even analysis?
A) It makes it appear that any quantity can be sold at the assumed price.
B) It suggests that profits will decrease rapidly as sales volume increases beyond the break-even point.
C) It is quite accurate in maximizing profit.
D) It assumes a U-shaped average variable cost curve.
E) It not helpful in evaluating alternatives.
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Page 22
Chapter 21: Ethical Marketing in a Consumer-Oriented
World: Appraisal and Challenges
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Sample Questions
Q1) The letters in "S.W.O.T.analysis" are an abbreviation for the first letters of the words "strengths,weaknesses,opportunities,and threats."
A)True
B)False
Q2) A firm faces the high cost of missed opportunities when:
A) it introduces a marketing mix which fails.
B) it doesn't offer a new marketing mix.
C) its products are rejected by a certain market segment.
D) it has an ineffective positioning statement.
E) the purchasing power of its target customers is low.
Q3) Which of the following might be sections in a marketing plan?
A) Competitor Analysis
B) Customer Analysis
C) Marketing Strategy
D) Situation Analysis
E) All of these sections could be included in a marketing plan.
Q4) Micro-marketing efforts help the economy grow by stimulating innovation.
A)True
B)False
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