Marketing Principles and Practice
Exam Bank
Course Introduction
Marketing Principles and Practice introduces students to the fundamental concepts and strategies of modern marketing. The course explores the essential elements of the marketing mix (product, price, place, and promotion), market research, consumer behavior, and the role of marketing in organizational success. Students will learn how to develop and implement effective marketing plans, analyze market opportunities, segment and target markets, and evaluate marketing performance in both domestic and international contexts. Through practical case studies and collaborative projects, the course emphasizes real-world application of marketing theories and prepares students for further study and professional roles in the marketing field.
Recommended Textbook
Marketing 17th International Edition by Hult and Ferrell
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21 Chapters
3942 Verified Questions
3942 Flashcards
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Chapter 1: An Overview of Strategic Marketing
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) The H&R Block company wants to adopt the marketing concept as a business philosophy. To be consistent with this decision, which of the following philosophies is most appropriate?
A)The customer is always right.
B)Making money is our business.
C)Sell, sell, sell.
D)Keep prices low.
E)Focus on today.
Answer: A
Q2) A market orientation is an organization-wide effort that includes all of the following activities except
A)researching customers' needs.
B)focusing on the marketing department only.
C)generating marketing intelligence for use in the organization.
D)being responsive to customers' ever-changing wants and needs.
E)disseminating marketing intelligence across departments within the organization.
Answer: B
Q3) Define the term value, and explain how people determine a product's value.
Answer: Answer not provided.
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Page 3
Chapter 2: Planning Implementing and Evaluating Marketing Strategies
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153 Verified Questions
153 Flashcards
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Sample Questions
Q1) Megan knows that whether she decides to interact with her customers in person, by phone, online, Facebook, Twitter, or by fax, that ____ should ultimately drive the marketing strategy.
A)marketing research
B)polite responsiveness
C)her customers
D)product availability
E)company goals
Answer: C
Q2) Which of the following is the most specific and detailed type of business strategy?
A)business-unit
B)marketing
C)corporate
D)customer service
E)tactical
Answer: B
Q3) Define the four product categories used in the Boston Consulting Group (BCG) product-portfolio analysis.
Answer: Answer not provided.
Page 4
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Chapter 3: The Marketing Environment
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189 Verified Questions
189 Flashcards
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Sample Questions
Q1) Which of the following acts was enacted to prevent businesses from restraining trade and monopolizing markets?
A)Sherman Antitrust Act
B)Clayton Act
C)Federal Trade Commission Act
D)Robinson-Patman Act
E)Wheeler-Lea Act
Answer: A
Q2) Technology can help marketers become more productive.
A)True
B)False
Answer: True
Q3) Which of the following is the best example of utilizing technology to improve consumer relationships?
A)Waiters recording orders on handheld computers
B)Surveying customers to determine their needs
C)Responding to changes in competitors' prices
D)Introducing stringent package standards
E)Requiring dolphin-safe tuna
Answer: A
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Chapter 4: Social Responsibility and Ethics in Marketing
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181 Flashcards
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Sample Questions
Q1) According to some environmentalists, what are the three types of products that all products should be reduced to?
A)Durable goods, natural resources, and unsalables
B)Nondurable goods, durable goods, and consumables
C)Consumables, durable goods, and unsalables
D)Environmental goods, recyclables, and salables
E)Permanents, temporaries, and renewable resources
Q2) According to President Kennedy's consumer bill of rights, the right to choose means that
A)consumers' interests will receive full and sympathetic consideration in the formulation of government policy.
B)consumers should have access to a variety of products and services at competitive prices.
C)consumers should have access to and the opportunity to review all relevant information about a product before buying it.
D)marketers have an obligation not to knowingly market a product that could harm consumers.
E)consumers should be able to buy products at prices they are willing to pay.
Q3) Discuss the responsibilities of an ethics officer.
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Page 6
Chapter 5: Marketing Research and Information Systems
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190 Verified Questions
190 Flashcards
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Sample Questions
Q1) How is it possible to increase the response rate of a mail survey?
Q2) Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys?
A)Total population surveys
B)In-home (door-to-door) interviews
C)Focus-group interviews
D)Personal interview surveys
E)Online surveys
Q3) Secondary data cannot be obtained from
A)trade journals.
B)the government.
C)international sources.
D)surveys.
E)computerized literature retrieval databases.
Q4) One common mistake in questionnaire construction is developing the questionnaire before objectives have been established.
A)True
B)False
Q5) How can companies use information technology as a competitive advantage?
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Chapter 6: Target Markets: Segmentation and Evaluation
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204 Verified Questions
204 Flashcards
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Sample Questions
Q1) In developing a company sales forecast, the forecasting methods are limited to surveys and correlation methods.
A)True
B)False
Q2) The executive judgment method of sales forecasting is very accurate in predicting future sales.
A)True
B)False
Q3) A marketer can use regression analysis techniques to predict the sales of new products.
A)True
B)False
Q4) Refer to Scenario 6.2. Suppose that GE Transportation decided to produce only locomotive engines for rail lines in the United States. The segmentation variable then would be
A)geographic location.
B)type of organization.
C)market density.
D)product use.
E)customer size.
Page 8
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Chapter 7: Consumer Buying Behavior
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219 Verified Questions
219 Flashcards
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Sample Questions
Q1) The phenomenon of selective exposure is associated with perception.
A)True
B)False
Q2) Market researchers for a local bakery determined that Jewish people consume 63 percent of the portion of bagels sold in New York City. This is an example of ____ influence on consumer buying decision processes.
A)demographic
B)situational
C)subcultural
D)role
E)social class
Q3) Buyers' actions are affected by one or more internal energizing forces geared toward satisfying needs, which are called A)motives.
B)lifestyles.
C)perceptions.
D)attitudes.
E)traits.
Q4) Compare and contrast the three major ethnic subcultures in the United States.
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Chapter 8: Business Markets and Buying Behavior
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175 Verified Questions
175 Flashcards
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Sample Questions
Q1) The state of Montana is preparing to buy a large quantity of frozen orange juice for use in a large school district. Citrus Sweet, Inc. is in the citrus juice business but has never sold to the government market. To have a chance at getting this order, Citrus Sweet's first step must be to get her firm to
A)make a presentation appointment with the state.
B)quote prices to the purchasing department.
C)advertise in the capital city.
D)negotiate with the state.
E)secure a slot on the list of qualified bidders.
Q2) What are the four major categories of factors that influence business buying decisions?
A)Environmental, organizational, interpersonal, and individual
B)Environmental, organizational, psychological, and individual
C)Environmental, psychological, individual, and technological
D)Technological, organizational, environmental, and interpersonal
E)Environmental, organizational, technological, and individual
Q3) Discuss how interpersonal factors influence the business buying decision process.
Q4) Compare and contrast the three major types of purchases made by business customers.
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Chapter 9: Reaching Global Markets
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168 Verified Questions
168 Flashcards
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Sample Questions
Q1) Explain why the mode of entry into an international market is a major issue for managers to consider.
Q2) Which of the following is most likely to engage in direct ownership activities internationally?
A)Internationally integrated structures
B)International division structures
C)Export department structures
D)Import department structures
E)Outsourcing structures
Q3) Japan's Sony Corporation is a prime example of a multinational enterprise. With this in mind, which of the following would most accurately characterize Sony's operations?
A)It follows a strategy of market globalization.
B)It has operations or subsidiaries in many different countries.
C)It places most of its emphasis on profits generated in foreign countries.
D)It would not expect its foreign operations to share the same goals as the parent firm.
E)It does not concern itself with differences in markets around the world.
Q4) Describe how economic and technological forces affect marketing strategies.
Q5) In what ways can a nation restrict the flow of imported goods?
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Chapter 10: Digital Marketing and Social Networking
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181 Verified Questions
181 Flashcards
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Sample Questions
Q1) Dion is a marketing communications consultant who specializes in the strategic use of social networking sites. Which of the following statements would most likely describe the companies that can use Dion's services?
A)Any sized company
B)Only large to medium sized companies
C)Only companies with a specialized target market
D)Only companies with a unique product
E)Only companies whose target customer is mainly women
Q2) ____ usually constitute a smaller part of the online population than the other groups.
A)Collectors
B)Spectators
C)Joiners
D)Creators
E)Critics
Q3) Initiators are those consumers who generate their own media outlets, such as blogs and wikis.
A)True
B)False
Q4) In what ways can a company use YouTube to its advantage?
Page 12
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Chapter 11: Product Concepts
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187 Verified Questions
187 Flashcards
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Sample Questions
Q1) The gross margin percentage on convenience goods is usually fairly high because they are low-priced items.
A)True
B)False
Q2) Depending on the length of time it takes them to adopt a new product, people can be divided into five major adopter categories: early adopters, early majority, late majority, laggards, and A)late adopters.
B)nonadopters.
C)innovators.
D)middle adopters.
E)middle majority.
Q3) A seller's profits peak in the maturity stage of a product's life cycle.
A)True
B)False
Q4) During the growth stage, promotion costs rise as a percentage of total sales.
A)True
B)False
Q5) Discuss the dimensions of a product mix.
Q6) For each product life cycle stage, discuss the strategic implications.
Page 13
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Chapter 12: Developing and Managing Products
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Sample Questions
Q1) Test marketing is an extension of the product screening process.
A)True
B)False
Q2) There is no best approach to managing products.
A)True
B)False
Q3) The phase-out approach to product deletion involves a process of continuous price increases to make as much profit as possible before the product is finally priced out of existence.
A)True
B)False
Q4) The phase of the new-product development process when the organization determines the technological feasibility of producing the product at a cost that results in a reasonable selling price is
A)test marketing.
B)commercialization.
C)concept testing.
D)product development.
E)business analysis.
Q5) What is concept testing, and why is it important?
Page 14
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Chapter 13: Services Marketing
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202 Verified Questions
202 Flashcards
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Sample Questions
Q1) Any service provider that offers time-sensitive services receives most of its revenue during A)peak demand.
B)heavy use time.
C)the off-season.
D)preferred demand.
E)customer contact time.
Q2) Client-based relationships are most likely to be developed by A)funeral directors.
B)electricians.
C)installers.
D)doctors.
E)brick layers.
Q3) Attributes that customers may be unable to evaluate even after the purchase and consumption of the service are called experience qualities.
A)True
B)False
Q4) An advantage of heterogeneity is that services can be customized. A)True
B)False
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Chapter 14: Branding and Packaging
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216 Verified Questions
216 Flashcards
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Sample Questions
Q1) What is co-branding? Explain what makes co-branding effective.
Q2) Which of the following issues is least important in using co-branding effectively?
A)The brands involved should represent a complementary fit in a customer's mind.
B)The brands that are teamed together should not lose their individual identities.
C)The brands involved should be owned by different companies.
D)Co-branding should be done in a way so that it is obvious which brand is the main brand or key brand.
E)Co-branding should take advantage of the distribution capabilities of the brands involved.
Q3) A red-and-white label on a soup can is an example of innovative packaging. A)True
B)False
Q4) Green Giant is an example of a private distributor brand.
A)True
B)False
Q5) What are the major functions of a label?
Q6) How will sustainability issues impact the design of a package?
Q7) In what ways can packaging be used strategically?
Page 16
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Chapter 15: Marketing Channels and Supply Chain Management
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183 Verified Questions
183 Flashcards
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Sample Questions
Q1) Why is the choice of warehouse facilities an important strategic consideration?
Q2) In an administered VMS, informal coordination brings about a high level of interorganizational management. Nonetheless,
A)decision making does not take into account the goals of the system.
B)the channel members do not remain autonomous.
C)the decision making is not coordinated.
D)the channel members remain autonomous.
E)the goals of the individual firms are not congruent with the goals of the system.
Q3) Refer to Scenario 15.1. Liz Claiborne, Inc. uses which type of channel of distribution for its premium brands?
A)A short, direct channel
B)A long, direct channel
C)Dual distribution
D)Horizontal integration
E)Intensive distribution
Q4) How do marketing channel decisions influence the rest of the marketing mix?
Q5) Compare and contrast horizontal and vertical channel integration.
Page 17
Q6) Discuss the importance of order processing in the physical distribution system.
Q7) What is supply chain management? How can it help marketing channel members?
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Chapter 16: Retailing, Direct Marketing, and Wholesaling
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Sample Questions
Q1) Stores that are in a manufacturers' outlet mall, such as Ralph Lauren, Tommy Hilfiger, Clarks' Shoes, and Samsonite Luggage are most appropriately classified as a(n) A)discounter.
B)specialty retailer.
C)off-price retailer.
D)category killer.
E)department store.
Q2) Alison lives in a remote area of Montana, where few good roads exist. She runs a small retail store specializing in western attire. Due to her remote location, Alison is most likely to obtain the merchandise for her store from A)rack jobbers.
B)general-line wholesalers.
C)mail-order wholesalers.
D)truck wholesalers.
E)specialty-line wholesalers.
Q3) Identify and describe three kinds of specialty stores.
Q4) What are the primary advantages and disadvantages of a franchise arrangement for a franchisee?
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Coupons are a form of sales promotion.
A)True
B)False
Q2) When Hamburger Helper introduced its Oven Varieties, it gave special offers to supermarkets to purchase the new product and supplemented these offers with consumer advertising. Hamburger Helper's primary objective is to
A)facilitate reseller support.
B)reduce sales fluctuations.
C)combat competitive promotional efforts.
D)encourage product trial.
E)retain loyal customers.
Q3) When encoding a message, the source should use signs or symbols that are new to the audience.
A)True
B)False
Q4) Advertising is one element of the promotion mix that is too expensive for small business firms.
A)True B)False
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Chapter 18: Advertising and Public Relations
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Sample Questions
Q1) Comparative advertisements mention the actual names of competing brands.
A)True
B)False
Q2) When developing an advertising campaign, benchmarks need to be included in the
A)campaign platform.
B)evaluation of the advertising effectiveness.
C)statement of advertising objectives.
D)media plan.
E)budget.
Q3) Toyota's sponsorship of a major Professional Golf Association tournament would be an example of a(n) ____ tool.
A)advertising
B)public relations
C)sales promotion
D)publicity
E)personal selling
Q4) What are the important issues to consider when developing advertising objectives?
Q5) Discuss how event sponsorship can be used as a public relations tool.
Q6) Identify and describe four publicity-based public relations tools.
Page 20
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Chapter 19: Personal Selling and Sales Promotion
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Sample Questions
Q1) Which of the following is particularly appropriate for pricey high-tech business products, such as jet aircraft and medical equipment?
A)Team selling
B)Relationship selling
C)Trade selling
D)Technical selling
E)Missionary selling
Q2) The preapproach is the first step in the personal selling process.
A)True
B)False
Q3) The greatest amount of responsibility for providing customer satisfaction falls on the shoulders of
A)chief executive officers.
B)salespeople.
C)sales managers.
D)quality control experts.
E)marketing directors.
Q4) Current customers are sources of leads for finding prospective customers.
A)True
B)False
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Chapter 20: Pricing Concepts
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Sample Questions
Q1) Which of the following statements about price elasticity is false?
A)Steak is an example of a product that has an elastic demand for most people, because when price goes up quantity demanded goes down proportionally more.
B)Elasticity of demand is the relative responsiveness of a change in quantity demanded to changes in price.
C)If marketers can determine price elasticity, then setting prices at optimum levels is much easier.
D)When price is raised on a product that has an inelastic demand, then total revenue will decrease.
E)A product like electricity has an inelastic demand.
Q2) A company trying to position itself as value oriented should not
A)set prices that are reasonable relative to product quality.
B)use premium pricing for its products.
C)set prices similar to those of its competitors.
D)use any advertising for its products.
E)consider costs when determining the price of products.
Q3) What are the implications of a downward-sloping demand curve?
Q4) Why is the marginal revenue of a product important to the marketer?
Q5) What are the terms of F.O.B. pricing?
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Chapter 21: Setting Prices
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Sample Questions
Q1) Competition-based pricing is
A)used when costs and revenues are secondary to competitors' prices.
B)not useful as a method of increasing market share.
C)not useful if the competing products are homogeneous.
D)not able to increase sales.
E)used when competing products are heterogeneous.
Q2) Price skimming is designed to yield maximum unit sales volume.
A)True
B)False
Q3) Sony management decided to use skimming as a pricing strategy for its newest line of high-definition television (HDTV) sets. It should be aware that this strategy does not
A)generate capital to cover research and development costs.
B)discourage competitors from entering the market.
C)provide flexibility in the introductory base price.
D)protect the firm from covering costs if prices are set too low.
E)reduce the stress that may be placed on the firm's production capabilities.
Q4) A major reason why retailers use markup pricing is that it is convenient.
A)True
B)False
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