Principles of Marketing Exam Bank
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies used in the marketing of goods and services. This course covers essential topics such as market segmentation, target marketing, consumer behavior, product development, pricing strategies, promotion, and distribution channels. Students will gain an understanding of how organizations identify and satisfy customer needs, create value, and build lasting customer relationships in a competitive and dynamic environment. Emphasis is placed on the role of marketing within the broader context of business and society, and practical applications are explored through real-world examples and case studies.
Recommended Textbook
Marketing 9th Canadian Edition by Frederick Crane
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Page 2
Chapter 1: Marketing: Customer Value, satisfaction, relationships, and Experiences
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Sample Questions
Q1) How an individual organization directs its marketing activities and allocates its resources to benefit its customers is known as:
A)micromarketing.
B)market restructuring.
C)cultural marketing.
D)macromarketing.
Answer: A
Q2) Michael's Craft Store places an advertisement on the banner of the website Etsy.Which element of the marketing mix is demonstrated? A)product.
B)price.
C)promotion.
D)place.
Answer: C
Q3) In our free-enterprise society,what three specific groups benefit from effective marketing?
Answer: Answers will vary
Q4) How do you define needs and wants?
Answer: Answers will vary
Page 3
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Chapter 2: Developing Successful Marketing Strategies
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Sample Questions
Q1) Which one of the following is NOT an example of the different goals that non-profit firms can pursue?
A)market share.
B)profit.
C)employee welfare.
D)social responsibility.
Answer: B
Q2) Medtronic,a world leader in heart pacemakers,is not in the medical device business but is in the business of: alleviating pain,restoring health,and extending life.This conscious effort of Medtronic defining their business shows they are paying attention to:
A)the marketing mix
B)corporate culture
C)how narrow or broad their business is
D)marketing strategy
Answer: C
Q3) There is a General Motors plant in Spring Hill,Tennessee,that is devoted solely to the production of Saturn cars.At which level is this plant operating? Explain your answer.
Answer: Answers will vary
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4
Chapter 3: Scanning the Marketing Environment
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Sample Questions
Q1) The United Way of Canada is constantly monitoring different social forces in the marketing environment.Which statement below most accurately relates to social forces?
A)empower workers to improve their performances.
B)usually have little impact on marketing strategy.
C)include reduced emphasis on trade regulation.
D)include demographics and values.
Answer: D
Q2) Tracy Smith has a disposable income of $1,600.Her disposable income represents 80 percent of her gross income.What is her gross income?
A)$5,400
B)$3,200
C)$2,000
D)$1,600
Answer: C
Q3) What changes have occurred in the last 25 years in the structure of the Canadian family?
Answer: Answers will vary
Q4) What conditions exist when a competitive analysis reveals powerful buyers?
Answer: Answers will vary
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Chapter 4: Ethics and Social Responsibility in Marketing
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Sample Questions
Q1) Define sustainable development.Provide two examples of it.
Q2) Ethics are the:
A)religious tenets of the country or ethnic region you live in.
B)social norms of a nation, community, or family.
C)laws of society that define a person's beliefs and behaviours.
D)moral principles and values that govern the actions and decisions of an individual group.
Q3) Recognizing the issue of greenwashing,the Canadian government developed ECOLOGO,this is helping Canadians to make informed choices about:
A)genuine environmentally sustainable products
B)companies not to buy from
C)companies that use child-labour
D)companies that are not environmentally friendly
Q4) Evergreen Memories has found a successful niche by leveraging which consumer trend?
A)Interest in sustainability and eco-friendliness
B)Low cost gifts
C)Buying local
D)Interest in ethical companies
Q5) Define green marketing.Provide two examples of it.
Page 6
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Chapter 5: Consumer Behaviour
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Sample Questions
Q1) Michael,makes an above average living working for the federal government,while Johnny is a recent graduate living day-to-day looking for work while paying off his student debt.Which needs are satisfied for Michael,but are a constant struggle for Johnny?
A)Physiological needs.
B)Safety needs.
C)Social needs.
D)Personal needs.
Q2) Because the average consumer operates in a complex environment,the human brain attempts to organize and interpret information with a process called:
A)selective retention.
B)selective attention.
C)selective exposure.
D)selective perception.
Q3) Which of the following statements about the VALS program is true?
A)The acronym VALS stands for Very Awesome Life Style.
B)The VALS program seeks to explain when consumers make purchase decisions.
C)The VALS program is used globally.
D)The VALS and PRIZM programs are both lifestyle analysis tools.
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Page 7
Chapter 6: Organizational Markets and Buyer Behaviour
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Sample Questions
Q1) Which of the following conditions is NOT a prerequisite for the existence of an independent e-marketplace?
A)thousands of geographically dispersed buyers and sellers
B)volatile prices caused by demand and supply fluctuations
C)stable prices caused by constant supply and demand
D)easily comparable offerings between a variety of suppliers
Q2) Jackson Steel sells its sheet metal to Ford,who,in turn,sells its finished product back to Jackson Steel so they can be a Ford vehicle dealer to the end consumer.Which term best accurately describes the relationship between Jackson Steel and Ford?
A)Relationship marketing
B)Reciprocity
C)Cooperative marketing
D)Vertical integration
Q3) According to a web research company,just 7 percent of online business-to-business transactions occurred in independent trading communities,and 93 percent occurred at private exchanges in 2001.What are the differences between independent trading communities and private exchanges? Can you suggest a reason for this disparity in usage?
Q4) What is the North American Industry Classification System (NAICS)?
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Chapter 7: Reaching Global Markets
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Sample Questions
Q1) The new Motorola-Google phone,the 'Moto-X' is produced in a factory in the USA and then shipped to consumers both in the USA and in other countries.This process is referred to as:
A)foreign exchange.
B)countertrading.
C)transporting.
D)exporting.
Q2) KFC in Japan sells tempura crispy strips.In northern England,it stresses gravy and potatoes,while in Thailand it offers fresh rice.In Holland,instead of potatoes,KFC offers customers a potato and onion croquette.In France,KFC sells pastries alongside its chicken.KFC exhibits an understanding of and appreciation for the _____ of other societies.
A)demographics
B)symbols
C)customs
D)sensitivities
Q3) What is the trade feedback effect?
Q4) What are the 5 critical axioms of creating an effective global social media strategy,and provide an example of each.
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Chapter 8: Marketing Research: From Information to Action
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Sample Questions
Q1) Oreo Cookies conducts an online panel to understand potential product changes for an existing buying group.The company asks the panel to rate aspects of the product that are:
A)known to be important to the buyers
B)unknown to the buyers
C)new product features
D)new product benefits
Q2) The Prince Edward Island Tourism Board wanted to understand why there was such a large increase in visitors to PEI last year.They conducted preliminary research with visitors to get some ideas.This is an example of:
A)primary research
B)causal research
C)descriptive research
D)exploratory research
Q3) Give one example each of (1)a leading question,(2)two questions in one,(3)an ambiguous question,and (4)a non-mutually exclusive answer.
Q4) List and describe the three major types of research techniques and indicate when each method would be most appropriate.
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Page 10
Chapter 9: Market Segmentation, Targeting, and Positioning
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Q1) All the salespeople in the Western regional office are asked to provide estimates of anticipated sales revenues for the next quarter.Based on this information,the forecast is set at $4,750,000 for the quarter.This is an example of a _____ forecast.
A)judgments of individuals
B)jury of executive opinion
C)salesforce survey
D)survey of experts
Q2) At a Hallmark store you can find several different product lines of greeting cards,including Fresh Ink,Nature's Sketchbook,Shoebox,Maxine,Mahogany,and Tree of Life cards - all cards made by Hallmark for sale in its stores and intended to appeal to different target markets.The Shoebox line sells for $0.99,which is a significantly lower price than some of the other Hallmark brands.The Shoebox line is designed to appeal to people on limited budgets.This is an example of _____ segmentation.
A)psychographic
B)behaviour
C)buying situation
D)demographic
Q3) Differentiate between market potential and sales forecast.
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Chapter 10: Developing New Products and Services
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Sample Questions
Q1) All of the following are protocol criteria for new-product development,except:
A)a well-defined target market
B)specific customers' needs, wants, and preferences
C)what the product will be and do
D)a well-priced product
Q2) A major difficulty in classifying products by type of user is that some products can be considered both consumer and industrial goods.To clarify decisions for developing the marketing mix strategy,classifying by the type of user focuses on the market and:
A)market size.
B)business mission.
C)purchase behaviour.
D)generated revenue.
Q3) In terms of promotion,which of the following types of goods would stress price,availability,and awareness?
A)shopping
B)convenience
C)specialty
D)unsought
Q4) Describe the business analysis stage of the new-product process.
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Chapter 11: Managing Products and Brands
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Sample Questions
Q1) TB Figure 1 shows that in 1986 cassette tapes were in which stage of the product life cycle?
A)Introduction
B)Growth
C)Maturity
D)Harvest
Q2) An aging baby boomer population has led to increased interest in developing and marketing products to satisfy the need of this potentially large market.As a result moisturizing creams like Oil of Olay are now positioned as "age-defying" creams.This is an example of which of the four factors that may trigger a repositioning action?
A)reacting to a competitor's position
B)reaching a new market
C)catching a rising trend
D)changing the value offered
Q3) During the maturity stage of the product life cycle,profit declines because:
A)there are fewer and fewer competitors in the market.
B)better products are only in the growth stage.
C)production costs increase the more a firm has to manufacture the same product.
D)there is fierce price competition among sellers.
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Page 13
Chapter 12: Managing Services
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Sample Questions
Q1) Changes in the services industry in the future will primarily be driven by each of the following factors EXCEPT:
A)technological development.
B)an expanding scope in the global economy.
C)changes in consumer interests.
D)a decrease in the amount and variety of choices.
Q2) One of the primary difference between tangible goods and services involves the consumer's ability to make pre-purchase evaluations.For example,consumers can quite easily make comparisons and evaluations of clothing,automobiles,and appliances before making a purchase.On the other hand,consumers can evaluate services such as restaurants,beauty salons,and laundromats only during or after the purchase.Indeed,tangible products have _____ properties,while services have _____ properties.
A)consistent; inconsistent
B)search; experience
C)inconsistent; consistent
D)experience; search
Q3) What is the difference between intangibility and inseparability of services?
Q4) What is a customer contact audit? Outline the contact audit for a typical visit to your dentist.
Page 14
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Chapter 13: Pricing Products and Services
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Sample Questions
Q1) The retail price of laser printers has decreased from $900 to less than $200 over several years.This is due in large part to:
A)skimming pricing.
B)prestige pricing.
C)odd-even pricing.
D)experience curve pricing.
Q2) For $19.99 a month you can purchase only a paper subscription to the Globe and Mail newspaper.For $9.99 you can purchase only an online subscription.However,for $22.99 you get both.This is an example of:
A)Packaged pricing
B)Multi-product pricing
C)Bundle pricing
D)Tie-in pricing
Q3) Geographic adjustments are made by manufacturers or wholesalers to:
A)cover production costs.
B)cover administrative costs.
C)cover promotional costs.
D)cover transportation costs.
Q4) Explain why price elasticity is important to marketing managers.
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Chapter 14: Managing Marketing Channels and Supply Chains
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Sample Questions
Q1) Why are marketing channels important in a marketing strategy? What factors affect channel choice and management?
Q2) Identify and describe the six basic service criteria used in evaluating transportation modes.
Q3) Identify the five modes of transportation and describe two advantages and two disadvantages of each mode.
Q4) What is calculated by the margins earned (revenues minus cost)for each channel member and for the channel as a whole?
A)profitability
B)buyer satisfaction
C)target market coverage
D)pre- or post-sale services
Q5) Why is customer service said to be highly situational?
Q6) What conflict is likely to occur when a manufacturer increases its distribution coverage in a geographical area?
A)Corporate
B)Horizontal
C)Vertical
D)Administered
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Chapter 15: Retailing
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Sample Questions
Q1) As part of their community leadership strategy,Tim Hortons is involved in all of the following areas,except:
A)Timbits Minor Sports Program
B)Coffee sustainability partnership program
C)Animal welfare initiative
D)Micro-enterprise program
Q2) Dominion is a Canadian supermarket.Recently,it began its Baby Club program,which mails its members a $20 gift certificate when they purchase a certain dollar amount of infant products.By offering this and similar loyalty-type programs,Dominion is trying to:
A)move from limited service to full-service.
B)move from self-service to full-service.
C)become more self-service.
D)move from self-service to limited service.
Q3) Vending machines are an example of:
A)hypermarkets.
B)direct mail.
C)scrambled merchandising.
D)non-store retailing.
Q4) What is the retail positioning matrix? Give an example.
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Chapter 16: Integrated Marketing Communications and Direct Marketing
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Sample Questions
Q1) In terms of the communication process,the source is:
A)any information which is paid for.
B)consumers who read, hear, or see the message.
C)similar understanding and knowledge.
D)a company or person who has information to convey.
Q2) Which of the following has the lowest business usage according to TB Figure 1?
A)Direct mail
B)E-mail
C)Catalogues
D)Telemarketing
Q3) When Coca-Cola sends their sales reps to speak with the owners of a 7-Eleven and Mac's Milk,they are using which channel strategy?
A)push
B)pull
C)inertia
D)exclusivity
Q4) Describe how the Dewmocracy Campaign was effective by discussing the key items from each of their seven stages of implementation
Q5) What is an IMC audit? Explain.
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Chapter 17: Advertising, Sales Promotion, and Public Relations
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Q1) An ad for Mercedes Benz cars showed a heart-shaped box of chocolates with one of the chocolates topped with the well-recognized Mercedes logo.There was no mention of the company name or sign of a product in the ad.This ad was an example of _____ advertising.
A)competitive institutional
B)competitive product
C)reminder institutional
D)pioneering product
Q2) Jury tests:
A)present a panel of consumers with an ad and ask for their reactions concerning the ad's effectiveness, appeal, etc.
B)present a panel of consumers with an ad for a limited period of time.The ad is then removed, and the respondents are asked to recall as much pertinent information as possible.
C)present consumers with a sample of a product and several different advertisements for the product.They are asked to select the one they think is most effective and explain why.
D)present consumers with a hidden ad, which they are asked to recall.
Q3) What is cooperative advertising?
Page 19
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Chapter 18: Personal Selling and Sales Management
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Q1) John is a salesperson and receives $2000 CDN a week,regardless of how much or how little he sells.This is an example of a:
A)sales response compensation plan
B)combination compensation plan
C)straight salary compensation plan
D)straight commission compensation plan
Q2) Which role below could also be described as an order getter?
A)automobile salesperson
B)Xerox salesperson
C)insurance salesperson
D)customer service agent
Q3) At a prospecting meeting,Mike,the salesperson,listens to Amy discuss what she is looking for in a new car.Mike is likely using which approach before describing the features of a new car?
A)formula selling presentation
B)stimulus-response presentation
C)need-satisfaction presentation
D)modified rebuy presentation
Q4) Describe the importance of gender intelligence in the sales process?
Q5) Define personal selling.Define sales management.
Page 20
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Chapter 19: Pulling It All Together: The Strategic Marketing Process
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Q1) The actions taken during market product focus and goal setting,step two of the planning phase,include: 1)set market and product goals,2)select target markets,3)find points of difference,and 4)__________.
A)identify industry trends
B)position the product
C)research customers
D)develop the program's marketing mix
Q2) Loving Care Pets manufactures dog food specifically created for puppies under three months of age.In terms of the market-product grid framework,Loving Care Pets is a small firm without sustainable comparative advantages in marketing or production resources and its strategy would be described as:
A)market-product concentration.
B)market specialization.
C)product specialization.
D)selective specialization.
Q3) List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.
Q4) What are the advantages and disadvantages of the product manager system?
Q5) Describe Canada Goose's differentiation strategy.
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Chapter 20: Using Social Media to Connect With Consumers
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Q1) A wiki is a
A)web page that serves as a publicly accessible personal journal and online forum for an individual or organization.
B)website whose content is created and edited by the ongoing collaboration of end users.
C)unique type of Internet browser where search results are personalized for each user. D)website where users create a personal profile, add "friends," and exchange messages and photos with them.
Q2) If a brand manager for Honda creates an offbeat and funny video featuring its latest model,the best social networking site to publish the video for marketing purposes would be __________.
A)Facebook
B)LinkedIn
C)Twitter
D)YouTube
Q3) What is the role of a brand manager in advertising on Facebook?
Q4) Describe the communications process of both traditional media and social media.
Q5) What are social media?
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