Marketing Principles
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Course Introduction
Marketing Principles provides a comprehensive introduction to the fundamental concepts and strategies of modern marketing. The course explores key topics such as market research, consumer behavior, segmentation, targeting and positioning, the marketing mix (product, price, place, promotion), branding, digital marketing, and ethical considerations in marketing. Students will learn how organizations identify customer needs, create value, and build relationships through effective marketing strategies. By examining real-world case studies and engaging in practical exercises, students will develop critical analytical skills and gain an understanding of the vital role marketing plays in both business success and societal development.
Recommended Textbook
M Marketing 5th Edition by Dhruv Grewal
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19 Chapters
2678 Verified Questions
2678 Flashcards
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Chapter 1: Overview of Marketing
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Sample Questions
Q1) How could you use marketing ideas to market yourself to potential employers after you graduate?
Answer: If an individual seeking a job sees the potential employer as a customer,he or she can begin to adopt the idea of creating value,focusing the "marketing mix" that the individual brings,and bring a strategic approach to a job search.Research,of course,will help in separating fact and reality from suppositions and assumptions.
Q2) Near the end of the model year,Move-Them-Out automobile dealership had an unusually high inventory level.The manager increased her advertising spending and gave extra incentives to its salespeople.Move-Them-Out operates as if it were in the __________ era.
A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented
Answer: B
Q3) What are the four Ps of marketing? Give an example of each.
Answer: Product,price,place,and promotion.Examples will vary.
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3
Chapter 2: Developing Marketing Strategies and a Marketing Plan
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Sample Questions
Q1) All of the following statements regarding marketing metrics are true except A) they can be used at various levels in an organization.
B) they assist in comparing results among SBUs.
C) they cannot be used to project the future.
D) they quantify a trend,dynamic or characteristic.
E) they help a firm make appropriate adjustments to its marketing plan.
Answer: C
Q2) When conducting a SWOT analysis,in what phase of the strategic marketing process is an organization presently engaged?
A) planning
B) implementation
C) control
D) segmentation
E) metrics
Answer: A
Q3) To build a sustainable competitive advantage,companies should focus on a single strategy.
A)True
B)False
Answer: False
Page 4
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Chapter 3: Social and Mobile Marketing
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Sample Questions
Q1) Select four of the seven primary motivations for mobile apps and provide examples of apps that correspond to each motivation.
Answer: Answers will vary,but may include: "Me time"-various game apps (Candy Crush Saga),e-book apps (Kindle),or TV / movie apps (Netflix,YouTube,or Hulu)
Socializing-Twitter,Skype,Snapchat Shopping-Out of Milk,showrooming Amazon app Accomplishing-MyFitnessPal,Mint QuickView (money management app) Preparation-Kayak,Dropbox,Google Calendar Discovery-Flipboard,Weather Channel Self-expression-Tapatalk,SkyMap
Q2) Compare the role of corporate,professional,and personal bloggers regarding a new product.Choose one product / service and use this as an example in your explanation. Answer: Answers will vary,but should address the role of corporate blogs (controlled by the company),professional blogs (unbiased product reviews and recommendations),and personal blogs (under the least amount of control,and often containing complaints or compliments from the consumer).
Q3) The best-known microblogging site is Google+.
A)True
B)False
Answer: False
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5
Chapter 4: Marketing Ethics
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Sample Questions
Q1) Which of the following is not a question posed in the ethical decision-making metric?
A) Would I want to see this action described on the front page of the local paper?
B) Will this action help advance my career?
C) Would the person I admire most engage in this activity?
D) Can I give a clear explanation for my action?
E) Will I be able to look at myself in the mirror and respect what I see?
Q2) If a U.S.clothing brand buys from overseas suppliers who manufacture clothing using child labor,this is the supplier's problem,and the U.S.company has no reason to be concerned.
A)True
B)False
Q3) Briefly describe how CSR affects the various stakeholder categories.
Q4) Why do the authors state that "using profit as the sole guiding light for corporate action" can harm the company?
Q5) In marketing,managers often face the choice of doing what is beneficial for them and possibly the firm in the short run and doing what is right and beneficial for the firm and society in the long run.How can this dilemma be addressed?
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Page 6
Chapter 5: Analyzing the Marketing Environment
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Sample Questions
Q1) Which of the following specifically prohibits monopolies?
A) Sherman Antitrust Act
B) Federal Trade Act
C) Robinson-Patman Act
D) Financial Reform Law
E) Consumer Product Act
Q2) Astute marketers recognize that the increasing disparity of income between upperand lower-income groups
A) will create inflationary expectations.
B) will disappear as ethnicity becomes a stronger cultural determinant.
C) creates opportunities to provide value to each group.
D) will vanish once the recession ends.
E) is attributable to technological expertise of immigrant groups.
Q3) In the immediate environment,the competition has no effect on consumers.
A)True
B)False
Q4) Discuss how privacy concerns have become a current social issue.What technological invention has prompted the rise in concern over privacy?
Q5) What is greenwashing and why do consumers need to be aware of it?
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Chapter 6: Consumer Behavior
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Sample Questions
Q1) As manager of a local donut shop,Arnie greets his regular customers by name and often begins making their order when he sees them drive into the parking lot.Arnie knows habitual purchasers with strong store loyalty are great customers.
A)True
B)False
Q2) Americans often equate "bigger" with "better," and prefer larger cars,TV screens,homes,even meals.Researchers suspect that in doing so,we are trying to reduce __________ risk in the consumer decision process.
A) psychological
B) financial
C) performance
D) social
E) physiological
Q3) Pam didn't go see the movie Gravity because her friends all said she wouldn't be able to handle it.When she found out how good it was,she blamed her friends.Pam is demonstrating an internal locus of control.
A)True
B)False
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8
Chapter 7: Business-To-Business Marketing
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Sample Questions
Q1) The Northwoods University IT department is planning to buy additional computers for the computer lab.Pedro Bechara,manager of the lab,is asked for a recommendation,and he suggests buying Macintosh computers instead of Windows PCs.What role does Pedro play in the buying center?
A) gatekeeper
B) influencer
C) decider
D) buyer
E) initiator
Q2) Which of the following is not one of the four general types of organizational buying cultures?
A) autocratic
B) democratic
C) consultative
D) capitalist
E) consensus
Q3) Once a vendor receives an order from a firm,it responds by immediately filling the order.
A)True
B)False
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Chapter 8: Global Marketing
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Sample Questions
Q1) How is the retail landscape in India changing?
Q2) When Ford Motor Company decided to sell the Fiesta-in the same form and design-around the globe,instead of selling different versions in different countries,this was part of Ford's global ________ strategy.
A) communication
B) pricing
C) distribution
D) exchange
E) product
Q3) Gerald is assessing global entry strategies for his gourmet sandwich business.He does not have significant capital for expansion and does not want to take a lot of risk.He is also willing to limit his control of international stores.What are his global entry options? Given his situation and priorities,which option is most logical? Why?
Q4) Which country has a rapidly aging population due to its one-child policy?
A) Brazil
B) Russia
C) India
D) China
E) Japan
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Chapter 9: Segmentation, Targeting, and Positioning
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Sample Questions
Q1) NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of its fans were female.This is an example of psychographic segmentation.
A)True
B)False
Q2) A company that sells only multigrain,low-calorie bread should use an undifferentiated targeting strategy.
A)True
B)False
Q3) After assessing the market growth potential and market competitiveness for his company's baby products in Mexico,Harmon wanted to evaluate market access.To do this,Harmon would consider
A) ease of accessing or developing distribution channels and brand familiarity.
B) the current size of the market and the expected growth rate.
C) ease of pricing control and number of promotional outlets.
D) the number of competitors,entry barriers,and product substitutes.
E) profitability and customer buying behavior.
Q4) Write a value proposition for your favorite restaurant.
Q5) Why must a firm's STP strategy be consistent with and derived from the firm's mission and objectives?
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Chapter 10: Marketing Research
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Sample Questions
Q1) Donald is analyzing and interpreting data.In the process,he is converting data into information.
A)True
B)False
Q2) If a marketing researcher has to collect data under severe time constraints,which of the following types of data sources would probably be available soonest?
A) syndicated data
B) focus group data
C) experimental data
D) panel data
E) survey data
Q3) Quantitative research offers a means to confirm ideas through A) surveys or experiments.
B) in-depth interviews.
C) data mining.
D) qualitative research.
E) informal analysis.
Q4) Why would a researcher want to change the sequence of steps in the marketing research process?
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Chapter 11: Product, Branding, and Packaging Decisions
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Sample Questions
Q1) Marketers spend billions of dollars annually attempting to build effective brands.One basic benefit of a brand is that it
A) creates a basis for effective packaging.
B) provides a way for a firm to differentiate its product offerings from competitors.
C) offers consumers promotional parity.
D) allows manufacturers to capitalize on promotional expenditures.
E) reduces the need for product line depth.
Q2) Which of the following statements regarding brand loyalty is not true?
A) The marketing costs of reaching loyal customers are typically very high.
B) Brand loyal customers are unlikely to switch to competitor's brands.
C) Brand loyal customers generate positive word of mouth.
D) Firms tend to reward brand loyal customers with extra benefits.
E) Brand loyal customers do not need persuasion to buy the firm's brands.
Q3) One key feature of the value of a strong brand is that
A) it can protect the firm from competition.
B) it no longer needs to be supported by advertising and promotion.
C) if it becomes a generic name,the brand is worth even more.
D) it cannot be successfully imitated by a retailer's own brand.
E) competitors will typically abandon a sector altogether rather than compete.
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Page 13
Chapter 12: Developing New Products
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Sample Questions
Q1) Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products,because they know that their customers crave the "latest and greatest" games.They use this information to create new products that primarily provide the benefit of
A) keeping up in a market where sales come mostly from new products.
B) satisfying the changing needs of former customers.
C) avoiding market penetration from products that have been on the market for a long time.
D) creating diversification and reducing risk.
E) taking advantage of a long product cycle.
Q2) The product life cycle is theoretically __________ with regard to sales and profits.
A) U shaped
B) Y shaped
C) bell shaped
D) circular
E) flat lined
Q3) Using the diffusion of innovation theory,what factors contributed to the rapid adoption and success of Amazon.com?
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Chapter 13: Services: the Intangible Product
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Sample Questions
Q1) Firms that primarily sell products view service as a method to maintain a sustainable competitive advantage.
A)True
B)False
Q2) When marketers say that services are __________,they are referring to the fact that services cannot be touched,tasted,or seen,like a pure product can.
A) intangible
B) inseparable
C) heterogeneous
D) perishable
E) replenishable
Q3) One approach marketers are using to reduce service __________ is to replace people with machines whenever appropriate.
A) intangibility
B) inseparability
C) spendability
D) perishability
E) heterogeneity
Q4) What are the potential gaps in the Gaps Model? What is it designed to do?
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Chapter 14: Pricing Concepts for Establishing Value
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Sample Questions
Q1) A study found that among addicted smokers,a 10 percent increase in the price of cigarettes resulted in a 2 percent decrease in quantity demanded.For these consumers,cigarettes have a(n)_______ price elasticity demand.
A) elastic
B) inelastic
C) cross-price
D) income effect
E) substitution effect
Q2) Which of the following markets is most likely to be characterized by oligopolistic competition in the United States?
A) soybeans
B) pens and pencils
C) smartphone service providers
D) men's clothing
E) electrical service to the home
Q3) Karen initially charged $80 for an hour-long massage and averaged 20 clients per week.When she raised her price to $100,the number of massages decreased to 15 per week.What is the price elasticity of demand for her service?
Q4) Explain how the demand curve works,and how it benefits a firm.
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Chapter 15: Supply Chain and Channel Management
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Sample Questions
Q1) TT Toys manufactures toys.The company recently started buying paint for its toys from a Chinese firm.This Chinese company is part of TT Toys'
A) supply chain.
B) corporate vertical marketing system.
C) distribution center.
D) CFPR.
E) voluntary chain.
Q2) Distribution centers are always operated by distribution specialists.
A)True
B)False
Q3) Coercive power is based on getting a channel member to behave in a certain way because of a contractual agreement between the two firms.
A)True
B)False
Q4) What elements,outlined in your text,contribute to the success of strategic relationships?
Q5) Give examples of the kinds of information flows that take place between a store and its consumers,a distribution center,and a manufacturer.
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Chapter 16: Retailing and Omnichannel Marketing
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Sample Questions
Q1) Belinda is opening an upscale outdoor cooking equipment store.If she wants to differentiate her store from competitors based on product offerings,what will she likely need to do?
Q2) As an omnichannel retailing operation matures,as in the case of Walmart,what tends to happen to its organizational structure?
A) separation of all operations
B) escalation of costs across all channels
C) growth of retail channel and diminishment of Internet channel
D) operational integration of all channels
E) growth of Internet channel and diminishment of retail channel
Q3) Compared to the Internet channel,what are the main benefits provided by physical stores?
Q4) It is primarily the retailer's responsibility to make sure customers' expectations are fulfilled.
A)True B)False
Q5) Omnichannel retailing has many potential advantages,but it also has challenges.What are they?
Q6) How has the relationship between manufacturers and retailers changed?
Page 18
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Twitter is a form of blogging and is increasingly used to reach current or potential customers.
A)True
B)False
Q2) Sales promotions include all of the following except A) coupons.
B) rebates.
C) online ads.
D) point-of-purchase displays.
E) free samples.
Q3) List the steps in the AIDA model and explain why each step is important to marketers.
Q4) In the communication process,noise can occur as a result of lack of message clarity,a poor choice of medium,or
A) competing messages.
B) an extended feedback loop.
C) indirect encoding.
D) inhibited decoding.
E) excessive reach.
Q5) Why should a marketer try to measure the success of a communications effort?
Page 19
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Chapter 18: Advertising, Public Relations, and Sales Promotions
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Sample Questions
Q1) Which advertising medium relies on a mix of visual and auditory techniques?
A) radio
B) magazines
C) newspapers
D) television
E) direct marketing
Q2) Loyalty programs are sales promotions designed to retain current customers and encourage multiple purchases over time with the promise of a reward or premium.
A)True
B)False
Q3) The advertising message "People are not looking for quarter-inch drill bits; they are looking for quarter-inch holes" suggests that advertising messages need to
A) emphasize technology.
B) focus on quality.
C) inform consumers about opportunities.
D) focus on solving problems.
E) engage in mild puffery.
Q4) Why do many people think advertising and marketing are synonymous?
Page 20
Q5) Why is tracking the impact of an advertising campaign challenging?
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Chapter 19: Personal Selling and Sales Management
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Sample Questions
Q1) Each time an employee at an audio store makes a sale of $500 or more,the department manager awards a chocolate gold coin in recognition of the employee's accomplishment.This reward is known as a
A) nonfinancial reward.
B) financial reward.
C) bonus.
D) commission.
E) salary increase.
Q2) Retail salespeople should not __________ and assume that a person in the store cannot afford to purchase the store's products based on appearances.
A) assume Murphy's Law is true
B) "run for the roses"
C) "judge a book by its cover"
D) "let sleeping dogs lie"
E) attempt to "keep up with the Joneses"
Q3) What kinds of ethical problems can be created by corporate sales policies?
Q4) Your best friend is considering a career in sales.What benefits of a sales career would you explain to your friend?
Q5) Why is recruitment such an important part of sales management?
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