Marketing Principles
Final Test Solutions
Course Introduction
Marketing Principles introduces students to the foundational concepts and strategies fundamental to successful marketing in both domestic and global contexts. The course explores key areas including market segmentation, targeting, and positioning, as well as the development of effective marketing mixes encompassing product, price, place, and promotion. Through a combination of theoretical frameworks and practical case studies, students will examine consumer behavior, branding, market research, and ethical considerations, gaining the analytical skills necessary to design and implement marketing strategies that drive organizational success.
Recommended Textbook
MKTG 9 9th Edition by Charles W. Lamb
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21 Chapters
1256 Verified Questions
1256 Flashcards
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Page 2
Chapter 1: An Overview of Marketing
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Sample Questions
Q1) Which of the following strategies is most closely associated with a societal marketing orientation?
A)Using greenwashing techniques
B)Fostering opportunism
C)Using clean energy sources
D)Increasing overhead production costs
Answer: C
Q2) Libra Electronic Inc.has launched a new range of light-weight vacuum cleaners with enhanced features.Before developing the product,Libra Electronic conducted a thorough study about customer requirements.The company also studied the quality of its competitors' vacuum cleaners.Based on insights about customer wants and competitor strengths and weaknesses,Libra Electronic has designed vacuum cleaners that can be clearly distinguished from other brands.Libra Electronic most likely has a _____ orientation.
A)promotion
B)market
C)sales
D)production
Answer: B
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Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) An effective marketing objective:
A)is qualitative rather than quantitative.
B)is compared to a benchmark.
C)is written independently of the mission statement.
D)is unattainable.
Answer: B
Q2) Mitchell's is a popular brand of women's clothing.During market research,the company observed that a large number of its existing customers believes and promotes the use of sustainable goods.Based on findings of the research,the top management of the company decides to use eco-friendly raw materials in manufacturing their clothes.Which of the following strategies is Mitchell's using in this scenario?
A)Market development
B)Cost leadership
C)Product differentiation
D)Market penetration
Answer: C
Q3) The basic goal of__________is to increase the short-term cash return without too much concern for the long-run impact.
Answer: harvesting
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Page 4
Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) Researchers found that when top managers develop a strong ethical culture,unethical behavior is reported less frequently.
A)True
B)False
Answer: False
Q2) _____ is a business's concern for the long-range welfare of both the company and its relationships to the society within which it operates.
A)Deregulation
B)Social loafing
C)Corporate self-dealing
D)Corporate social responsibility
Answer: D
Q3) In rule utilitarianism,a person performs the acts that benefit the most people,regardless of personal feelings or societal constraints such as laws.
A)True
B)False
Answer: False
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Page 5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) Which of the following statements is true of baby boomers?
A)They are postponing retirement to pay debts.
B)They spend less than any other population group.
C)They have minimal health care expenses.
D)They are affected by the Great Recession than any other cohort.
Q2) Alex had purchased a battery-operated drill.The drill overheated and exploded when he tried to use it.It was determined that the explosion was due to a problem with how the drill was manufactured.Alex can lodge a complaint about the drill at the__________.
Q3) Discuss six approaches that are used by companies now to stimulate innovation.
Q4) Which of the following statements is true about Gen Xers?
A)They are a primary target for marketers promoting family-oriented products.
B)They control the majority or of America's net worth.
C)They spend more on luxury products and services than any other cohort.
D)They are the group least affected by the Great Recession.
Q5) Millenials:
A)are now more in number than baby boomers.
B)spend the most on food than any other cohort.
C)have been least affected by the Great Recession.
D)are less familiar with technology and social media than any other group.
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) Maria likes visiting different restaurants and trying out a variety of cuisines.She writes her experiences on a Web page,titled Maria's Experiences,which can be read by people all around the world.She also reviews restaurants,and members of her Web page are entitled to post their comments and suggestions.Based on this information,Maria's Experiences is an example of a(n)__________.
Q2) Write a note on the economic factors that influence the external business environment.
Q3) Maria likes visiting different restaurants and trying out a variety of cuisines.She writes her experiences on a Web page,titled Maria's Experiences,which can be read by people all around the world.She also reviews restaurants,and members of her Web page are entitled to post their comments and suggestions.Based on this information,Maria's Experiences is an example of a(n)_____.
A)blog
B)online forum
C)widget
D)e-commerce Web site
Q4) Cost savings is considered a key driver for outsourcing by most companies.
A)True
B)False
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) In _____,consumers spend only a moderate amount of time and effort in gathering information about a product and in considering various alternatives.
A)postpurchase evaluation
B)routine response behavior
C)limited decision making
D)low-involvement product purchases
Q2) A belief is a learned tendency to respond consistently toward a given object.
A)True
B)False
Q3) A subculture is a homogeneous group of people who renounce the values of an overall culture.
A)True
B)False
Q4) How does marketing strategy vary according to the level of involvement associated with a product?
Q5) Marketing strategies for a product remain the same irrespective of the level of involvement associated with the product.
A)True
B)False
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Chapter 7: Business Marketing
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Sample Questions
Q1) Leo buys 500 sheets of paper from a vendor for his printing firm.He is satisfied with the product,and he orders the same quantity from the same vendor every week.This is most likely an example of a__________.
Q2) Ethics refers to a firm's belief that an ongoing relationship with another firm is so important that it warrants maximum efforts at maintaining it indefinitely.
A)True
B)False
Q3) Items such as sheet metal,treated lumber,corn syrup,and plastics are examples of
A)raw materials
B)processed materials
C)installations
D)MRO supplies
Q4) Which of the following scenarios illustrates business marketing?
A)Molly,a university student,buys a book to gift her friend.
B)Tom,the accountant at Martel Inc. ,buys a pair of shoes for his daughter.
C)Mark,a school student,purchases a laptop for his personal use.
D)Jenny,the manager of Ikon Inc. ,purchases a set of printers for her office.
Q5) What are supplies? Explain with examples.
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) A market segment is a subgroup of people or organizations having different characteristics that cause them to have distinct product needs.
A)True
B)False
Q2) Nalpas Inc. ,an apparel company,manufactures clothes for men,women,and children.It further divides its core customers on the basis of demographic variables such as income,ethnic background,and family life cycle.These divisions are known as _____.
A)positioning bases
B)market segments
C)perceptual maps
D)market positions
Q3) Tennot Designs Inc.manufactures and sells clothes and shoes to people who are over 6'6" tall - a rather small target market.Given this information,Tennot Designs Inc.uses a(n)__________targeting strategy.
Q4) How is market segmentation useful to marketers?
Q5) How do organizations use a product differentiation strategy to distinguish their products from competitors?
Q6) Write a note on the final step of the market segmentation process.
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Chapter 9: Marketing Research
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Sample Questions
Q1) Gerrard,the manager of a company,decides to conduct a survey on the motivation level of its employees.He lists out all 5,000 employees and picks 1,000 employees who can be contacted easily and are close to him.In this case,the type of sample used is a__________sample.
Q2) Marketing research is of little help to managers who want to understand detailed and complicated relationships.
A)True
B)False
Q3) Kay & Maggie's,a beauty salon,is conducting a survey to find out how satisfied its customers are with the service provided at all its outlets.For this purpose,it distributes questionnaires and conducts personal interviews with its customers.Which form of data is being collected by Kay & Maggie's?
A)Primary
B)Ordinal
C)Secondary
D)Nominal
Q4) Explain the importance of marketing research in decision making.
Q5) How does marketing research help managers make decisions?
Q6) How is competitive intelligence useful to organizations?
Page 11
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Chapter 10: Product Concepts
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Sample Questions
Q1) Services and ideas are not considered products because they are intangible.
A)True
B)False
Q2) Each product item in the product mix always requires a separate marketing strategy.
A)True
B)False
Q3) _____ labeling is designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase.
A)Informational
B)Persuasive
C)Perspective
D)Instructional
Q4) Ecstasy Inc.is a Canada-based food and beverage company.The company has decided to market and sell its products in all European countries under the same brand name.In this scenario,Ecstasy Inc.has decided to use the__________.
Q5) A(n)__________strategy is not possible when the brand name has a negative or vulgar connotation in the local language.
Q6) What are universal product codes (UPCs)? Explain their use in packaging.
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Why are marketing costs high in the introductory stage of the product life cycle?
A)Cutthroat competition during the introductory stage can lead to price wars.
B)Sales increase rapidly during the introductory stage,requiring greater investment for marketing.
C)High dealer margins are often needed to obtain adequate distribution.
D)Product and manufacturing costs need to be identified and corrected.
Q2) Nutritreat Industries Corp.is a manufacturer of food products.The company introduced chocolate cookies to the local market.After a period of initial success,the product lost its market and Nutritreat decided to withdraw chocolate cookies from the market.This scenario is an example of the__________stage of a product life cycle.
Q3) In the growth stage of the product life cycle,sales typically grow at an increasing rate,many competitors enter the market,and large companies may start to acquire pioneering firms.
A)True
B)False
Q4) Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.
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Chapter 12: Services and Nonprofit Organization Marketing
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Q1) Car Bar allows its customer to rent a car at $10 per day on weekdays,at $15 per day on weekends,and at $20 per day exclusively during the holiday season.This pricing strategy helps the company match the supply and demand for its cars.This is an example of__________.
Q2) Marketing services is more challenging than marketing goods because: A)of the unique characteristics of services,which includes intangibility,inseparability,heterogeneity,and perishability. B)consumers and business users can easily evaluate the quality of services. C)services tend to exhibit less experience and credence qualities. D)all service providers compete against each other,but firms selling tangible goods complement each other.
Q3) Internal marketing is more important for goods manufacturers than service firms. A)True B)False
Q4) The Internet is a form of indirect service distribution. A)True B)False
Q5) The__________of a service most clearly reveals the relationship between its target market strategy and its distribution strategy.
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Chapter 13: Supply Chain Management
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Sample Questions
Q1) Which of the following is an advantage of using customer care software?
A)It helps eliminate the process of customer relationship management.
B)It reduces the interactions between companies and their customers.
C)It helps adjust the speed of the assembly line to match customer demand.
D)It enables companies to enhance their customer service management process.
Q2) Which of the following is a primary function of relationship integration in providing top-level service to customers?
A)It requires several individual companies or business units to act in isolation in order to offer superior service to customers.
B)It creates performance assessments that help measure the performance of the supply chain as a whole without holding each individual firm or business unit accountable for meeting its goals.
C)It includes the ways in which two or more companies will collaborate on activities or projects so that a customer gains the maximum amount of total value possible from the supply chain.
D)It involves the creation and maintenance of information technology systems that help managers across the firms in the supply chain function independently from one another.
Q3) How does outsourcing affect the efficient deployment of supply chain management?
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Page 15
Chapter 14: Marketing Channels
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Sample Questions
Q1) Which of the following is a difference between a retailer channel and a wholesaler channel?
A)A retailer channel is most common when the retailer is large and can buy in large quantities,while a wholesaler channel is commonly used for low-cost items that are frequently purchased.
B)A retailer channel must be organized and managed as a group,while a wholesaler channel must be managed individually.
C)A retailer channel helps differentiate a firm's final product from the competition,while a wholesaler channel does not.
D)A retailer channel enables a retailer to use another manufacturer's already-established product,while a wholesaler channel does not.
Q2) A__________is a business structure of interdependent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain.
Q3) __________occurs when a firm refuses to meet specific obligations or fails to change when new situations arise.
Q4) Why are many companies transitioning to omnichannel distribution operations?
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Chapter 15: Retailing
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Q1) _____ is an emerging trend that employs market data to best serve customers as they prepare to make a purchase.
A)Retail channel omnification
B)Click-and-collect
C)Shopper marketing
D)Mass customization
Q2) A freestanding store can become successful by:
A)reducing the number of salespeople.
B)moving to an isolated location.
C)attracting customers from nearby competitors.
D)becoming a destination store.
Q3) Tipplers Delight is a liquor store that sells a wide assortment of alcoholic beverages.Tipplers Delight is an example of a _____.
A)supermarket
B)specialty store
C)supercenter
D)drugstore
Q4) Alpha Beta Inc.is a self-service shop that offers a wide variety of foods and household products,organized into aisles.Alpha Beta is a__________.
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Chapter 16: Marketing Communications
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Sample Questions
Q1) The National Pork Board of the United States wants to create more consumer demand for pork products.The board decides on how to use advertising,public relations,personal selling,sales promotion,and social media to create a coordinated plan that will become an integral part of the its marketing functions.Thus,the board is developing a _____.
A)promotional strategy
B)tactic for communication
C)mass aggregation strategy
D)competitive advantage
Q2) Which of the following statements is true of advertising?
A)The total costs of advertising are typically low.
B)The messages in advertising are personalized.
C)The cost per contact in advertising is low.
D)Innovative media are not used in advertising.
Q3) __________is the process by which meanings are exchanged or shared through a common set of symbols.
Q4) Social media are used by marketers as a way to extend the benefits of their traditional media.
A)True
B)False
Page 18
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Chapter 17: Advertising, public Relations, and Sales Promotion
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Q1) Duski,a very expensive brand of clothing and accessories,promotes its products by using advertisements that feature beautiful women wearing its products.What kind of an advertising appeal is used by Duski?
A)Environmental consciousness
B)Vanity and egotism
C)Health
D)Profit
Q2) A trade allowance is a price reduction offered by retailers to customers who are buying homogeneous shopping goods.
A)True
B)False
Q3) Meek's Hunting Emporium is a retail store that sells equipment required for hunting.It has established an advertising plan that allows it to advertise every day prior to the opening of quail,deer,and turkey hunting seasons on four local radio stations,as well as in the local newspapers.This is an example of:
A)message execution.
B)a media profile.
C)audience selectivity.
D)a media schedule.
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Chapter 18: Personal Selling and Sales Management
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Q1) A sales presentation is a written document or professional presentation that outlines how a company's product or service will meet or exceed the client's needs.
A)True
B)False
Q2) Kay and Jenny's,a restaurant,has implemented a new system that identifies and gathers information about its regular customers.It rewards the regular customers by giving them gift coupons and cash prizes.This is most likely an example of a(n)_____ system.
A)organizational optimization
B)profit maximization
C)total quality management (TQM)
D)customer relationship management (CRM)
Q3) Maggie's Apparel Inc.is a store that offers customized shopping,whereby consultants pick clothing they feel will fit a customer's style and specified need.This scenario most likely illustrates _____.
A)personal selling
B)price-based selling
C)seasonal marketing
D)word-of-mouth marketing
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Chapter 19: Social Media and Marketing
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Q1) Blogs allow marketers to create content in the form of posts,which ideally build trust and a sense of authenticity in customers.
A)True
B)False
Q2) Which of the following best describes a collector?
A)A person who posts comments,ratings,and reviews of products and services on blogs and forums
B)A person who produces content for blogs,Web sites,articles,and videos
C)A person who uses RSS feeds to gather information and vote for Web sites online
D)A person who posts status updates on social networking sites and microblogging services
Q3) Social media measurements are meaningless if:
A)they require further processing.
B)they are tied to performance indicators.
C)they are taken from many sources.
D)they lack context.
Q4) __________is the process of identifying and assessing what is being said about a company,individual,product,or brand.
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Chapter 20: Pricing Concepts
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Q1) What happens when demand is elastic?
A)As price goes up,revenue goes down.
B)As price goes down,revenue goes down.
C)As price goes up,revenue goes up.
D)As price goes up,revenue does not change.
Q2) Which of the following is a similarity between broad-based shopping bots and niche-oriented shopping bots?
A)Both search restricted government Web sites.
B)Both operate using a Yellow Pages type of model in that they list every retailer they can find.
C)Both search for only one type of product.
D)Both theoretically give pricing power to consumers.
Q3) As products enter the growth stage of the product life cycle,prices generally begin to stabilize.
A)True
B)False
Q4) How do manufacturers benefit from prestige pricing?
Q5) When consumer demand is sensitive to price changes,__________occurs.
Q6) A cost that changes with the level of output is called a(n)__________cost.
Q7) __________costs do not change as output is increased or decreased.
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Chapter 21: Setting the Right Price
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Sample Questions
Q1) A price skimming strategy is most often used for a new product when:
A)competition in the market is abundant.
B)customers are unwilling to spend a large amount of money on the product.
C)its supply is greater than its demand.
D)the product is perceived as having unique advantages.
Q2) Which of the following acts prohibits a firm from selling to two or more different buyers,within a reasonably short time,commodities (not services)of like grade and quality at different prices where the result would be to substantially lessen competition?
A)The Federal Trade Commission Act
B)The Food and Drug Administration Act
C)The Sherman Act
D)The Robinson-Patman Act
Q3) When executives from competing firms meet to decide which of them will submit the lowest bid on a contract,they are indulging in _____.
A)price discrimination
B)price fixing
C)bait pricing
D)penetration pricing
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