Marketing Management
Midterm Exam
Course Introduction
Marketing Management explores the fundamental principles and strategies involved in bringing products and services to market effectively. Students learn how to analyze market opportunities, segment and target audiences, position offerings, and develop comprehensive marketing plans. The course covers topics such as consumer behavior, branding, product development, pricing strategies, distribution channels, and promotion through both traditional and digital media. Emphasis is placed on decision-making using real-world scenarios, case studies, and the application of marketing analytics to optimize business outcomes in a dynamic global environment.
Recommended Textbook
Contemporary Marketing 16th Edition by Louis E. Boone
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Page 2
Chapter 1: Marketing: The Art and Science of Satisfying Customers
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Sample Questions
Q1) Information technology has enhanced the effectiveness of relationship marketing by leveraging mass-marketing campaigns.
A)True
B)False
Answer: False
Q2) The application of relationship marketing requires attention to levels of customer loyalty.Which of the following is the highest level as defined by this type of marketing?
A) Loyal supporter of the company and its goods and services.
B) Advocate who not only buys the products but recommends them to others.
C) Regular purchaser of the company's products.
D) Stockholder who literally buys into the organization and its mission.
Answer: B
Q3) Owen buys a car for himself.Owen has created ownership utility.
A)True
B)False
Answer: True
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Chapter 2: Strategic Planning in Contemporary Marketing
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Sample Questions
Q1) Which of the following conditions would lead a company's marketers to find a new market,change prices,or compete in other ways to maintain an advantage?
A) When the bargaining power of suppliers is low
B) When the bargaining power of buyers is low
C) When the threat of substitute products is high
D) When the threat of new entrants it low
Answer: C
Q2) A marketing mix should be an ever-changing combination of variables to achieve success.
A)True
B)False
Answer: True
Q3) Matching an external opportunity with an internal weakness produces a situation known as leverage.
A)True
B)False
Answer: False
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Page 4
Chapter 3: The Marketing Environment, Ethics, and Social Responsibility
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Sample Questions
Q1) Marketers are usually more concerned with the amount of discretionary income in households.
A)True
B)False
Answer: True
Q2) The airline industry in a particular country has only four dominant players.Large capital investments and government regulations often prevent new players from entering the market.Based on this information,the structure of the airline industry in this country is _____.
A) a duopoly
B) perfectly competitive
C) an oligopoly
D) a monopoly
Answer: C
Q3) Sentencing guidelines act as an incentive for corporations to implement effective ethics compliance programs-if they are hauled into court,the existence of such a program can help reduce penalties.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Social Media: Living in the Connected World
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Sample Questions
Q1) People who want to learn about a product and its features in detail are more likely to search out this information on Twitter,while those interested in a promotional event are more likely to follow Facebook.
A)True
B)False
Q2) Define social media.What are the basic forms of social media?
Q3) Eons.com is a website for baby boomers that allows members to find friends,share experiences on various topics,and post photos and videos.It also provides information on health,fitness,retirement and insurance,and access to various special interest groups.Eons.com is an example of a _____.
A) blogging site
B) social news site
C) social networking site
D) microblog
Q4) Majority of the firms measure the success of their social media marketing plan in terms of their social media presence.
A)True
B)False
Q5) How does social media marketing differ from traditional marketing?
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Chapter 5: E-Business: Managing the Customer Experience
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Sample Questions
Q1) Seth reads an online tour journal from his favorite musician.With the help of this journal,fans can post comments or occasionally ask questions to the musician.This online journal is an example of a(n):
A) blog.
B) social network.
C) electronic bulletin board.
D) newsgroup.
Q2) _____ e-marketing is the use of Internet for business transactions between organizations.
A) Societal
B) Differentiated
C) Business-to-business
D) Consumer centered
Q3) The process of encoding data for security purposes is called _____.
A) authorization
B) authentication
C) encryption
D) randomization
Q4) What are electronic storefronts? How do they function?
Q5) Write a brief note on search marketing.
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Chapter 6: Consumer Behavior
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Sample Questions
Q1) Rachel,an advertising executive,shops for clothing at a trendy store in town.The sales clerk shows her the latest styles in bright prints and bold colors.Although these are the styles worn at her office,she rejects them and purchases traditionally formal clothes in neutrals and black.Rachel's decision is most likely driven by _____ factors.
A) impersonal
B) interpersonal
C) personal
D) institutional
Q2) The situation in which a consumer makes a purchase by rapidly choosing a preferred brand is referred to as limited problem solving.
A)True
B)False
Q3) The degree of external search increases as purchasing behavior moves from routine to limited to extended problem solving.
A)True
B)False
Q4) Discuss Maslow's hierarchy of needs and list a product that can be promoted to fulfill each of the different levels of needs.
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Chapter 7: Business-to-Business (B2B)Marketing
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Sample Questions
Q1) The function performed by the gatekeeper in the company buying center is to:
A) inform potential suppliers about the required specifications of the product.
B) select a supplier and implement the procedures for securing the goods and services.
C) choose which goods and services will actually be bought.
D) control the information that all buying center members will review.
Q2) Discuss the role of merchandisers and category advisors in the business buying process.Give examples.
Q3) Which of the following will be considered as an institutional buyer?
A) The Federal Government
B) Wholesalers
C) Hospitals
D) Department of Defense
Q4) Not-for-profit organizations are considered to be a part of the business market. A)True
B)False
Q5) Members of the trade industries acquire products primarily to support the production of other goods and services.
A)True
B)False
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Chapter 8: Global Marketing
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Sample Questions
Q1) When a firm uses a standardized marketing mix with minimal modifications in all of its domestic and foreign markets,it is known as a _____ marketing strategy.
A) lateral entry
B) unipolar
C) global
D) multidomestic
Q2) Outboard motors that are sold in the United States primarily as recreational products may be sold in a foreign country as basic transportation equipment.Such a practice is an example of product adaptation.
A)True
B)False
Q3) Which of the following internationally recognized standards sets requirements for operations that minimize harm to the environment?
A) ISO 9000 series
B) ISO 8000 series
C) ISO 10000 series
D) ISO 14000 series
Q4) What is the European Union? What are its goals?
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Chapter 9: Market Segmentation, Targeting, and Positioning
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Sample Questions
Q1) The "empty nest" stage in the family lifecycle includes:
A) young unmarried people.
B) married couples whose children are living on their own.
C) married couples with children in their growing years.
D) newly married couples without children.
Q2) In the context of the VALS framework,"strivers" are a group of consumers who value duty and tradition more compared to other groups and are more likely to be women than men.
A)True
B)False
Q3) Children exert considerable influence over household food purchases.
A)True
B)False
Q4) Members of the video game generation gravitate to activities that provide constant entertainment and immediate gratification.
A)True
B)False
Q5) Describe the four basic strategies for reaching target markets.
Q6) Write a note on the VALS segmentation system.
Q7) Describe the six psychographic consumer segments identified by Roper. Page 11
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Chapter 10: Marketing Research and Sales Forecasting
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Q1) What is the significance of marketing research to businesses? What are the stages involved in the marketing research process?
Q2) Describe the three principal methods used by researchers to collect primary data.
Q3) Firms conduct marketing cost analysis to determine:
A) the appropriate levels of market capitalization.
B) the current levels of corporate assets and liabilities.
C) the profitability of certain customers, territories, or product lines.
D) the marketing strategies of its competitors.
Q4) The information collected for the first time specifically for a marketing research study is called _____ data.
A) qualitative
B) primary
C) processed
D) secondary
Q5) Test marketing a new product is expensive and communicates company plans to competitors prior to its full-scale introduction.
A)True
B)False
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Chapter 11: Relationship Marketing and Customer Relationship Management (CRM)
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Sample Questions
Q1) A successful customer relationship management system reorganizes the business processes to deliver superior value to the customers by:
A) decentralizing the marketing data.
B) bringing down a firm's reliance on expensive word-of-mouth marketing.
C) expanding the response time for customer queries to increase their satisfaction.
D) empowering customers to find information they need to manage their own orders.
Q2) In a salute to fans of the Olympic games,Ralph Lauren launched a complete wardrobe,inspired by the Olympics designs,for men,women,children,and infants.This is an example of _____ marketing.
A) distributive
B) internal
C) database
D) affinity
Q3) The cost of acquiring a new customer is equivalent to that of retaining a loyal customer.
A)True
B)False
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Page 14
Chapter 12: Product and Service Strategies
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Sample Questions
Q1) Johnson & Johnson manufactures more than 100 brands in nearly 50 product categories.The total number of products they manufacture represents the _____ of its product mix.
A) length
B) depth
C) consistency
D) width
Q2) Product strategies are essentially the same for consumer and business markets.
A)True
B)False
Q3) Marketers think in terms of a product as a compilation of package design and labeling,brand name,price,availability,warranty,reputation,image,and customer service activities that add value for the customer.
A)True
B)False
Q4) A dentist provides pure service.
A)True
B)False
Q5) Define product line.Discuss some of the reasons why firms develop product lines.
Page 15
Q6) Define product.How do marketers perceive products?
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Chapter 13: Developing and Managing Brand and Product Categories
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Sample Questions
Q1) Brand names should contain words or phrases in general use,so that it is easier for the consumers to pronounce,recognize and remember the brand names.
A)True
B)False
Q2) A product's package color,size and label shapes are all part of its trade dress.
A)True
B)False
Q3) A line extension involves the addition of new sizes,styles,flavors,or related products to an existing group of products.
A)True
B)False
Q4) A _____ strategy concentrates on finding new markets for existing products.
A) market penetration
B) market development
C) product development
D) product diversification
Q5) Brand insistence is a company's first objective for newly introduced products.
A)True
B)False
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Chapter 14: Marketing Channels and Supply Chain Management
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Sample Questions
Q1) Which of the following terms represents businesses that provide transportation services as for-hire carriers to the general public?
A) Common carriers
B) Contract carriers
C) Private carriers
D) Independent carriers
Q2) A(n)_____ is an intermediary that takes title to the goods it handles and then distributes these goods to retailers,other distributors,or sometimes end consumers.
A) agent
B) wholesaler
C) broker
D) drop shipper
Q3) The complete sequence of suppliers and activities that contribute to the creation and delivery of goods and services is known as the supply chain.
A)True
B)False
Q4) List the six major elements of the physical distribution system along with the focus area for each.
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Chapter 15: Retailers, Wholesalers, and Direct Marketers
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Sample Questions
Q1) Which of the following is a form of marketing that manufacturers use to completely bypass wholesalers and retailers?
A) Mass merchandising
B) Direct selling
C) Mass marketing
D) Scrambled merchandising
Q2) Differentiate between a wholesaler and a wholesaling intermediary.
Q3) The response rates for direct-mail marketing are measurable and higher compared to other types of advertising.
A)True
B)False
Q4) The two broad categories of independent wholesaling intermediaries include agents and brokers,and _____.
A) contract agents
B) full-function intermediaries
C) exclusive-function intermediaries
D) merchant wholesalers
Q5) Define category killers.Give an example.
Q6) Discuss the different types of direct marketing.
Page 18
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Chapter 16: Integrated Marketing Communications,
Advertising, and Public Relations
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Sample Questions
Q1) A tourism ad promoting Vermont as a winter holiday destination is an example of product advertising.
A)True
B)False
Q2) Which of the following is the oldest form of promotion?
A) Product placement
B) Personal selling
C) Guerrilla marketing
D) Ambush marketing
Q3) A sponsor purchases access to the sponsored activity's audience and the image associated with the activity.
A)True
B)False
Q4) IMC broadens the concept of promotion to include all the ways a customer has contact with the organization,adding packaging,store displays,and online advertising to traditional media.
A)True
B)False
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Q5) Explain how noise interferes with the effective transmission of a promotional message.
Chapter 17: Personal Selling and Sales Promotion
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Sample Questions
Q1) The trade-oriented promotion that consists of a display or other promotion located near the site of the actual buying decision is known as:
A) specialty advertising.
B) missionary selling.
C) push-on-premises display.
D) point-of-purchase advertising.
Q2) Zedz Technicals,a provider of game programming,directed its highly skilled and technically sound salespeople to visit its customers without prior appointment and makes a sales pitch on the spot.Which of the following techniques was used by the sales team?
A) Creative selling
B) Inbound telemarketing
C) Cold calling
D) Missionary selling
Q3) Distinguish between inbound and outbound telemarketing.
Q4) Push money refers to cash incentives paid by manufacturers to wholesalers to stock new products.
A)True
B)False
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Chapter 18: Pricing Concepts
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Sample Questions
Q1) Price setting is based on the marketer's ability to strike a balance between desired profits,and the customer's perception of a product's value.
A)True
B)False
Q2) Companies which adopt a volume objective continue to expand sales even when their total profits drop below the minimum return acceptable to management.
A)True
B)False
Q3) Most states supplement federal legislation with their own unfair-trade laws,which require sellers to maintain minimum prices for comparable merchandise.
A)True
B)False
Q4) A firm maximizes its profits when:
A) the marginal revenue curve runs much below the marginal cost curve.
B) marginal costs are more than marginal revenues.
C) the marginal revenue curve runs parallel to the marginal cost curve.
D) marginal costs equal marginal revenues.
Q5) Explain market-share objectives.
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Chapter 19: Pricing Strategies
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Q1) In an attempt to simplify pricing structures,sellers will quote uniform prices that,in effect,spread the total shipping costs across all the customers.
A)True
B)False
Q2) Penetration pricing is likely to be utilized when demand for a good or service is highly inelastic.
A)True
B)False
Q3) What is market-plus pricing? Why do companies practice a skimming strategy?
Q4) The use of bots to search out price quotes on specified products forces Internet marketers to:
A) keep their prices low.
B) install "bot-stoppers."
C) use printer-disabling viruses.
D) close their websites.
Q5) Business and government purchasers often legally enter into contracts with favored suppliers instead of using competitive bidding.
A)True
B)False
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Chapter 20: Your Career in Marketing
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Sample Questions
Q1) For which of the following roles courses in computer science and information systems are considered a prerequisite?
A) Public relations specialist
B) Advertising specialist
C) Marketing research analyst
D) Merchandiser
Q2) An open-ended interview forces you to talk about yourself and your career goals.
A)True
B)False
Q3) Who among the following oversees account services,creative services,and media services departments?
A) Sales manager
B) Advertising manager
C) Promotion manager
D) Category manager
Q4) Cover letters should always be addressed as,"To whom it may concern."
A)True
B)False
Q5) List the elements of an effective letter of recommendation.
Q6) Explain the three basic formats used in preparing a résumé.
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Chapter 21: Developing an Effective Marketing Plan
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Q1) The need for a business plan is more acutely felt in a small company than in a large multinational company.
A)True
B)False
Q2) A marketing plan is not reevaluated once it is completely implemented.
A)True
B)False
Q3) A marketing plan is a detailed description of the resources and actions needed to achieve stated marketing objectives.
A)True
B)False
Q4) What are the reasons a company should develop a marketing plan?
Q5) A firm's goals should be specific and measurable.
A)True
B)False
Q6) The facilities plan estimates the firm's employment needs and the skills necessary to achieve organizational goals.
A)True
B)False
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Chapter 22: Financial Analysis in Marketing
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Sample Questions
Q1) A balance sheet contains more marketing-related information than an income statement.
A)True
B)False
Q2) While calculating the accounts receivable turnover ratio,sales to buyers using credit cards like MasterCard and Visa are counted as credit sales because the seller is providing credit to the buyer who buys without cash.
A)True
B)False
Q3) Which of the following statements is true of markup?
A) A marketer's markup exerts no influence on its image as perceived by customers.
B) Retailers who offer more services charge larger markups to cover their costs.
C) Markups typically are stated as percentages of net interest expenses.
D) Retailers with a lower turnover rate can make a profit by charging a smaller markup.
Q4) Receivables are collected credit sales.
A)True
B)False
Q5) Explain the difference between an income statement and a balance sheet.
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