Principles of Marketing
Chapter Exam Questions
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies of marketing in modern organizations. The course covers key topics such as market research, consumer behavior, product development, pricing strategies, promotion, distribution channels, and the role of digital technologies. Emphasizing both theory and practical application, students learn how businesses identify customer needs, create value, and build lasting relationships in competitive environments. Real-world examples and case studies are used to illustrate the impact of effective marketing on organizational success and customer satisfaction.
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Strategic Marketing 10th Edition by David Cravens
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Page 2
Chapter 1: New Challenges for Market Driven Strategy
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Q1) _____ consist(s) of deciding the scope and purpose of the business,the objectives,and the resources necessary to achieve the objectives.
A) Marketing strategy
B) Corporate strategy
C) Market sensing
D) Channel bonding
Answer: B
Q2) Getting all business functions working together to provide superior customer value is referred to as _____.
A) customer relationship management
B) competitor intelligence
C) cross-functional coordination
D) centralization
Answer: C
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Chapter 2: Markets and Competitive Space
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Q1) _____ analysis is horizontal and only covers similar types of firms and operating practices of the firms.
A) Value chain
B) Industry
C) Market segmentation
D) Customer profile
Answer: B
Q2) The product-variant product-market structure includes a broad group of products that satisfy a general,yet similar,need.
A)True
B)False
Answer: False
Q3) Customer function considers the role or purpose of the good or service.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Strategic Market Segmentation
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Q1) Which of the following segment of consumers do not base purchase decisions on a brand's global attributes,and judge them on the same criteria they use for local brands?
A) Global Citizens
B) Global Dreamers
C) Antiglobals
D) Global Agnostics
Answer: D
Q2) _____ groups people according to the similarity of their answers to questions such as brand preferences or product attributes.
A) Perceptual maps
B) Cluster analysis
C) Linear discriminant analysis
D) Factor analysis
Answer: B
Q3) Segmentation is employed by first choosing a segment randomly.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Strategic Customer Management: Systems,
ethics, and Social Responsibility
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Sample Questions
Q1) What is customer lifetime value? How is it calculated?
Q2) The integration of CRM into the firm's operational support systems is important for the successful implementation of CRM.
A)True
B)False
Q3) The _____ level of CRM considers the implications of knowledge about customers and their preferences across the entire organization.
A) field
B) customer-facing
C) company-wide
D) functional
Q4) What information should a database created through CRM technology contain?
Q5) The _____ in the CRM strategy indicates the necessary initiatives to launch the strategy.
A) value proposition
B) enterprise transformation plan
C) operating agreement
D) business case
Q6) What are the different CRM levels?
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Chapter 5: Capabilities for Learning About Customers and Markets
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Q1) The market sensing process of _____ helps to study and understand changes that occur in the markets and avoid complacency in reacting to such changes.
A) building open-minded inquiry
B) analyzing competitors' actions
C) listening to front-line employees
D) searching for latent customer needs
Q2) Investments in enhancing and shaping interpretation may create a more durable competitive advantage than investments in obtaining additional information.
A)True
B)False
Q3) Megagro,a groceries retail chain,demonstrated the market sensing process of _____ when it hired researchers to survey the refrigerator contents and lifestyles of 90 families-checking average family size,gross family income,what the families ate for breakfast,and how often they shopped for groceries.
A) scanning the periphery of the market
B) encouraging experimentation
C) searching for latent customer needs
D) analyzing competitors' actions
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Chapter 6: Market Targeting and Strategic Positioning
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Q1) Explain the consumer behavior of buyers in mature markets affecting brand management.
Q2) Lambasta is a burger joint that claims to specialize in lamb burgers.Over the past year,Lambasta has experimented in different products wherein they stopped making some of their flagship lamb burgers and replaced them with chicken burgers.The Lambasta website,which claims Lambasta to be "the only legitimate lamb burger joint in town," increasingly provides special offers on their chicken burgers.Their core customer base and profits have steadily declined ever since.Which of the following types of positioning errors is affecting Lambasta?
A) Underpositioning
B) Overpositioning
C) Symbolic positioning
D) Confused positioning
Q3) Which of the following is true about the life cycle of a typical product?
A) Profits are highest in the emerging phase of the product-market.
B) Total profits increase after the product reaches the maturity stage.
C) Sales are highest during the growth period.
D) Profits fall off before sales as the product reaches maturity.
Q4) Elaborate on the scope of using positioning strategies.
Q5) Briefly explain the four life cycle stages of the product-market environment.
Page 8
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Chapter 7: Strategic Relationships
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Q1) What are the advantages and disadvantages of outsourcing firm activities?
Q2) Describe the different forms of organizational relationships.
Q3) Competence in specialized technology can give smaller firms extensive bargaining power with larger firms.
A)True
B)False
Q4) Which of the following is considered as an end-use customer of a firm?
A) Competitor
B) Supplier
C) Distributor
D) Consumer
Q5) Marketing intermediaries such as wholesalers and retailers are horizontal channels of distribution.
A)True
B)False
Q6) _____ are agreements between two or more firms to establish a separate entity.
A) Franchises
B) Consortiums
C) Strategic alliances
D) Joint ventures
Page 9
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Chapter 8: Innovation and New Product Strategy
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Q1) The objective of _____ is to identify needs for new products and improvements in existing products,processes,and supporting services.
A) test marketing
B) incremental innovation
C) analytical positioning techniques
D) customer value analysis
Q2) Conformity between consumer value expectations and product use experience indicates greater new-product opportunities.
A)True
B)False
Q3) New products that provide improved performance or greater perceived value (or lower cost) are called _____ innovations.
A) transformational
B) substantial
C) nondescript
D)incremental
Q4) What is proactive cannibalization and what is the strategic logic of this concept?
Q5) How can innovations be classified? What are the different types of innovations?
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Chapter 9: Strategic Brand Management
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Q1) Moving the brand down is relatively easy to pursue since it benefits from the image of the higher-level brand.
A)True
B)False
Q2) Which of the following brand leveraging strategies involves the sale of a firm's brand name to another company for use on a noncompeting product?
A) Line extension
B) Brand extension
C) Co-branding
D) Licensing
Q3) In private branding,retailers with established brand names contract with producers to manufacture and place the retailer's brand name on products sold by the retailer.
A)True
B)False
Q4) Discuss the state of counterfeit brands,the ethical issues,the involvement of law enforcement,and the role of the internet in counterfeiting.
Q5) What functions do brands serve for sellers?
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Chapter 10: Value Chain Strategy
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Q1) _____ is a network of value chain organizations performing functions that connect goods and services with end-users.
A) Line extension
B) Retail chain
C) Channel of distribution
D) Digital channel
Q2) If a company decides to distribute its products in many of the retail outlets in a trading area that might normally carry such a product,it is using a(n) _____ distribution approach.
A) exclusive
B) intensive
C) selective
D) moderate
Q3) In _____ VMS,a single firm does not exert substantial control over other channel members but involves close collaboration and sharing of information.
A) ownership
B) contractual
C) administered
D) relationship
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Page 12
Chapter 11: Pricing Strategy
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Q1) Explain the role of price in the distribution strategy.
Q2) A low-passive pricing strategy:
A) emphasizes superior value of the product.
B) emphasizes nonprice competitive factors.
C) offers discounts.
D) avoids price comparisons.
Q3) What are the steps in selecting a pricing strategy?
Q4) A high-active pricing strategy:
A) values superiority.
B) emphasizes nonprice competitive factors.
C) offers discounts.
D) avoids price comparisons.
Q5) _____ is the practice of charging different prices to different buyers for goods of similar grade and quality.
A) Price fixing
B) Price discrimination
C) Deceptive pricing
D) Predatory pricing
Q6) Give an account of predatory pricing.What are its ethical implications?
Q7) Explain the various roles of price in the marketing program.
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Chapter 12: Promotion, advertising, and Sales Promotion Strategies
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Q1) The percent-of-sales method of budgeting for promotion is arbitrary and does not recognize that promotion efforts and results are related.
A)True
B)False
Q2) An advertising-driven promotion strategy is used when:
A) the numbers of buyers are small.
B) the size and importance of purchase is large.
C) product complexity is high.
D) no post purchase contact is required.
Q3) Which of the following informational activities is targeted at both channel members and the salesforce?
A) Demonstrations
B) Trade shows
C) Displays
D) Selling aids
Q4) Longitudinal studies use empirical data to build a mathematical relationship between sales and advertising effort.
A)True
B)False
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Chapter 13: Sales, digital, and Direct Marketing Strategies
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Q1) _____ selling provides assistance and support to value chain members rather than obtaining sales.
A) New business
B) Consultative/technical
C) Missionary
D) Trade
Q2) Which of the following sales organization designs can be adopted when customer needs are similar and there is a complex range of products offered?
A) Geography-driven
B) Market-driven
C) Product-driven
D) Product/market-driven
Q3) _____ require information on each salesperson's sales and/or costs and can help spot high performing and unprofitable territories by comparing each salesperson to an average break-even sales level.
A) Revenue/cost analysis techniques
B) Single-factor models
C) Sales and effort response models
D) Portfolio deployment models
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Page 15
Chapter 14: Designing Market-Driven Organizations
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Q1) "Talent marketplaces" inside the organization allow capable employees to plot their own career paths internally.
A)True
B)False
Q2) Which of the following processes' function is to create value for the organization?
A) New product development
B) Logistics
C) Customer service
D) CRM
Q3) Which of the following marketing organizational forms have the following performance characteristics: most efficient form; highly effective for appropriate tasks; less adaptive?
A) Bureaucratic form
B) Transactional form
C) Organic form
D) Relational form
Q4) A key advantage of functional organizational design is its customer focus.
A)True
B)False
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Chapter 15: Strategic Marketing Implementation and Control
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Q1) The results of the _____ provide the basis for selecting performance criteria and choosing relevant marketing metrics to assess actual performance against plans and tactical intent.
A) strategic marketing audit
B) integrated marketing communications
C) balanced scorecard
D) customer relationship analysis
Q2) A benefit of the balanced scorecard methodology is that it is feasible for any business unit level strategy and provides a means to link performance evaluation to strategy implementation.
A)True
B)False
Q3) Which of the following is the initial step in setting up a strategic marketing evaluation program?
A) Obtaining and analyzing information for performance-gap identification
B) Selecting performance criteria and choosing relevant marketing metrics
C) Conducting strategic marketing audit
D) Assessing performance and taking necessary action
Q4) What are the core tasks of a CMO?
Q5) Explain the dimensions of the marketing planning process.
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