Principles of Marketing Exam Bank
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies involved in the marketing process. The course covers essential topics such as market research, consumer behavior, product development, pricing strategies, distribution channels, and promotional tactics. Emphasis is placed on understanding the role of marketing within organizations and its impact on both customers and society. Through case studies, real-world examples, and interactive discussions, students learn how to develop effective marketing plans, analyze market opportunities, and apply ethical considerations in decision-making.
Recommended Textbook
Essentials of Marketing 16th Edition by William Perreault Jr
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19 Chapters
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5606 Flashcards
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Page 2
Chapter 1: Marketings Value to Consumers, Firms, and Society
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387 Verified Questions
387 Flashcards
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Sample Questions
Q1) Marketing will NOT happen unless
A)e-commerce is flourishing.
B)collaborators are present to simplify exchange.
C)intermediaries are present to facilitate exchange.
D)two or more parties each have something they want to exchange for something else.
E)an economy is market-directed rather than command.
Answer: D
Q2) A macro-marketing system should
A)provide everyone with the same goods and services.
B)be part of a market-directed economy,not a command economy.
C)match supply and demand and accomplish a society's objectives.
D)depend solely on a society's political institutions.
Answer: C
Q3) Companies that consider the triple bottom line measure economic,social,and political outcomes.
A)True
B)False
Answer: False
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Chapter 2: Marketing Strategy Planning
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Sample Questions
Q1) The Wall Street Journal has been trying to attract new customers by promoting its newspaper for student use in business courses.This is an example of
A)product development.
B)diversification.
C)market penetration.
D)market development.
Answer: D
Q2) Attractive opportunities for a particular firm are those that the firm has some chance of doing something about-given its resources and objectives.
A)True
B)False
Answer: True
Q3) A marketing plan should include
A)some control procedures.
B)what company resources will be needed,and at what rate.
C)what marketing mix is to be offered to whom,and for how long.
D)what sales and profit results are expected.
E)All of these are included in a marketing plan.
Answer: E
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Page 4
Chapter 3: Evaluating Opportunities in the Changing Market Environment
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Sample Questions
Q1) Regarding the competitive environment,a marketing manager usually can
A)choose strategies to avoid head-on competition.
B)control it with the help of the legal environment.
C)control it in the short run.
D)control it with the help of the political environment.
E)control it in the long run.
Answer: A
Q2) Which of the following countries have the lowest GNI per capita?
A)Japan and Switzerland
B)Mexico and Spain
C)Ethiopia and Haiti
D)India and Pakistan
E)Germany and the United States
Answer: C
Q3) Which of the following is an example of the cultural and social environment?
A)growing acceptance of women in business
B)growing popularity of exercise
C)increased desire for satisfaction with life
D)All these answers are correct.
Answer: D
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Chapter 4: Focusing Marketing Strategy With Segmentation and Positioning
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264 Flashcards
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Sample Questions
Q1) Target market dimensions should influence all the following strategy decisions EXCEPT
A)what product features and assortments will be offered.
B)what prices should be set.
C)where products will be available for purchase.
D)which types of advertising and promotion will be utilized.
E)which industry a firm should choose.
Q2) Which of the following is LEAST likely to compete in the same generic market with the others?
A)garlic powder
B)pepper
C)Tabasco sauce
D)salt
E)potato chips
Q3) "Good" market segments are those that are
A)homogeneous between.
B)heterogeneous within.
C)operational and substantial.
D)international in nature.
E)substantial all the time.
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Chapter 5: Final Consumers and Their Buying Behavior
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Sample Questions
Q1) A salesperson driving to visit a client located two hours away has a tire blow out on the highway.He walks about a mile to the next exit,where he finds a service station.The owner of the station says he can replace the blown tire,but it will cost twice as much as it would to purchase a tire in the salesperson's home city.The salesperson,not wanting to be late for his appointment,agrees to pay the higher price in order to get back on the road.This case illustrates the effect of ________ on buying behavior.
A)cultural background
B)social groups
C)the purchase situation
D)the learning situation
E)reference groups
Q2) How much effort is put into a buying decision depends on economic needs,psychological variables,social influences,culture,purchase situation,and the amount of risk involved.
A)True
B)False
Q3) Empty nesters is a term that refers to young couples with no children.
A)True
B)False
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Page 7
Chapter 6: Business and Organizational Customers and Their Buying Behavior
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271 Flashcards
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Sample Questions
Q1) A seller's marketing mix should satisfy both the needs of the customer company and the needs of individuals in the buying center.
A)True
B)False
Q2) As B2B buyers rely more on social networks,it's more likely that communications from sellers will have even more influence.
A)True
B)False
Q3) Firms that are described by NAICS code 3152 are more similar than firms described by NAICS code 31.
A)True
B)False
Q4) Relationship-specific adaptations involve changes in a firm's product or procedures that are unique to the needs or capabilities of a relationship partner.
A)True
B)False
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Page 8
Chapter 7: Improving Decisions With Marketing Information
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Sample Questions
Q1) A data warehouse is filled with file cabinets and binders where past market research is stored.
A)True
B)False
Q2) The rate at which big data are generated and processed is referred to as A)velocity.
B)tempo.
C)volume.
D)predictive analytics.
E)variety.
Q3) A ________ is an organized way of continually gathering,accessing,and analyzing information that marketing managers need to make ongoing decisions.
A)big data repository
B)data warehouse
C)marketing information system
D)research specialist network
E)marketing model
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Chapter 8: Elements of Product Planning for Goods and Services
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Sample Questions
Q1) ________ are products a consumer needs but isn't willing to spend much time and effort shopping for.
A)Convenience products
B)Unsought products
C)Homogeneous shopping products
D)Utility products
E)Heterogeneous shopping products
Q2) The Nutrition Labeling and Education Act of 1990 requires food manufacturers to
A)list the nutritional value of the food product.
B)use a uniform format in the Nutrition Facts panel.
C)list the fat content of the food product.
D)list ingredients that trigger common food allergies.
E)All of these are requirements of the Nutrition Labeling and Education Act.
Q3) Expense items are depreciated over many years,while capital items are charged off,as they are used usually in the year of purchase.
A)True
B)False
Q4) It is illegal for a firm to use a package that cannot be recycled.
A)True
B)False
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Chapter 9: Product Management and New-Product Development
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Sample Questions
Q1) A product idea may be in a different life-cycle stage in different markets.
A)True
B)False
Q2) Chris Carmine manages specific products and promotion at Bright-n-Shiny Toothbrush Company.Her job responsibility sounds like that of a
A)brand manager.
B)project coordinator.
C)channel manager.
D)sales representative.
E)marketing research manager.
Q3) A marketing manager might use the total quality management approach to A)reduce defects in goods produced in factories.
B)train better salespeople.
C)improve customer service.
D)make delivery schedules more reliable.
E)All these answers are correct.
Q4) A fad cycle is shorter than a fashion cycle. A)True
B)False
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Chapter 10: Place and Development of Channel Systems
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Sample Questions
Q1) Retail stores that sell "seconds" and "irregular" products at discount prices are flourishing all over the country.These stores are needed because of which regrouping activity?
A)accumulating
B)bulk-breaking
C)sorting
D)wholesaling
E)assorting
Q2) Which of the following is the most common system for distributing consumer products in the United States?
A)direct channel system
B)vertical marketing system
C)traditional channel system
D)horizontal marketing system
E)None of these answers is correct.
Q3) Direct investment in a foreign market involves the biggest commitment and the biggest risk.
A)True
B)False
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Page 12
Chapter 11: Distribution Customer Service and Logistics
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230 Flashcards
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Sample Questions
Q1) Which of the following statements about transporting by rail is true?
A)It is the slowest mode of transportation.
B)It is the least expensive mode of transportation.
C)It is good for long-distance transportation of heavy,bulky items at low cost.
D)It is the most efficient at handling less-than-carload (LCL)shipments.
E)It accounts for more than 25 percent of transport revenues.
Q2) Logistics focuses on the handling of goods along a channel of distribution but not within individual firms.
A)True
B)False
Q3) The term supply chain can be misleading because the chain typically involves only two firms: a vendor (selling firm)and a customer (buying firm).
A)True
B)False
Q4) A channel of distribution is part of a broader network of relationships called a supply chain.
A)True
B)False
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13
Chapter 12: Retailers, Wholesalers, and Their Strategy Planning
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Sample Questions
Q1) One reason manufacturers' sales branches handle over 25 percent of wholesale sales is that they are located in the best market areas.
A)True
B)False
Q2) Retailing on the Internet
A)can provide consumers with a broad array of product information.
B)still accounts for less than ten percent of total retail sales.
C)is growing rapidly.
D)equates to lower operating costs and sometimes to lower prices.
E)All these answers are correct.
Q3) Which of the following is NOT true about multichannel shopping?
A)Multichannel shoppers use different channels moving through the purchase process.
B)Webrooming occurs when shoppers inspect a product in a physical store and purchase at a lower price online.
C)Multichannel shopping includes shopping in different channels from the same retailer.
D)Multichannel shopping can cause problems for retailers.
E)Showrooming is a type of multichannel shopping.
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Page 14
Chapter 13: Promotionintroduction to Integrated Marketing Communications
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Sample Questions
Q1) The task method of budgeting focuses on the amount being spent by competitors.
A)True
B)False
Q2) Identify the characteristic nature of late majority.
A)They make a lot of use of mass media.
B)They respond more to social pressure from other late adopters than to salespeople.
C)They make a lot of use of salespeople.
D)They use salespeople and have much contact with the early majority.
E)They have a lot of contact with early adopters.
Q3) The source deciding what it wants to say and translating it into words or symbols that will have the same meaning to the receiver is referred to as A)transmutation.
B)exposition.
C)decoding.
D)encoding.
E)recoding.
Q4) Primary demand is demand for a company's own brand.
A)True
B)False
15
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Chapter 14: Personal Selling and Customer Service
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303 Flashcards
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Sample Questions
Q1) The two basic decisions to be made in developing a compensation plan are the method of payment and
A)designation of the salesperson.
B)level of compensation.
C)number of years of service.
D)number of client commendations received.
E)career advancement.
Q2) Charles Brothers Bakery's sales efforts to local schools emphasizes personal selling without any e-commerce support.If Charles Brothers Bakery is doing things right,we would expect that the situation of selling to schools requires
A)high relationship building and a low degree of standardized information exchange.
B)low relationship building and a low degree of consumer product awareness.
C)low relationship building and a high degree of standardized information exchange.
D)high relationship building and high consumer technology understanding.
E)low relationship building and a low degree of standardized information exchange.
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16
Chapter 15: Advertising and Sales Promotion
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Sample Questions
Q1) Cooperative advertising is
A)advertising by several producers of the same product type-to stimulate primary demand.
B)encouraged by the Federal Trade Commission.
C)the opposite of competitive advertising.
D)a way for a producer to get more promotion for its advertising dollar.
E)None of these answers is correct.
Q2) Motor vehicles producers spend a higher percentage of their sales on advertising than do perfumes and cosmetics producers.
A)True
B)False
Q3) Which of the following is most likely to spend approximately 2.5 percent on advertising as a percentage of sales?
A)a producer of soft drinks
B)a producer of motor vehicles
C)a retail grocery store
D)a producer of soap and detergent
E)a retail jewelry store
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Chapter 16: Publicity: Promotion Using Earned Media,
Owned Media, and Social Media
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200 Verified Questions
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Sample Questions
Q1) PerfectSweatShirt Company makes and sells a high-end hoodie sweatshirt through an online website.After a recent order,Jane received a discount code she could give to a friend.She sent the code to her friend Amy,and when Amy used the discount code,Jane received a five-dollar credit on a future purchase.PerfectSweatShirt is using a(n)
A)product promotion activity.
B)owned media system.
C)viral management technique.
D)referral program.
E)advertising allowance.
Q2) Promotional efforts using social media are most effective with which target market?
A)those that are already customers
B)those who do not already follow the brand
C)those who are new customers
D)those that do not usually consume social media
E)those who are middle age and older
Q3) About three-quarters of Pinterest users are male.
A)True
B)False
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Chapter 17: Pricing Objectives and Policies
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Sample Questions
Q1) Which of the following is a status quo pricing objective?
A)growth in sales
B)maximize profits
C)growth in market share
D)satisfactory profits
E)meeting competition
Q2) Price fixing is illegal under all circumstances in the United States.
A)True
B)False
Q3) A cash discount of 3/15,net 30 means that the buyer
A)gets a 15 percent discount off the face value of the invoice if the invoice is paid within 3 days.
B)gets a 3 percent discount off the face value of the invoice if the invoice is paid within 15 days.
C)makes a 3 percent down payment on the face value of the invoice within 15 days,with the remainder due in 30 days.
D)gets a 3/15 (20 percent)discount if the invoice is paid within 30 days.
E)None of these answers is correct.
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19
Chapter 18: Price Setting in the Business World
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Sample Questions
Q1) A retailer who advertises a low price on an item-with no intent to sell that item-but only to attract customers to try to sell more expensive products is using
A)full-line pricing.
B)leader pricing.
C)odd-even pricing.
D)psychological pricing.
E)bait pricing.
Q2) The two basic approaches to price setting are
A)supply-oriented and demand-oriented.
B)cost-oriented and demand-oriented.
C)sales-oriented and profit-oriented.
D)cost-oriented and profit-oriented.
E)average-cost pricing and break-even analysis.
Q3) Even if a manager's estimate of a demand curve is not exact,there is usually a profitable range around the price that would maximize profit.
A)True
B)False
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Chapter 19: Ethical Marketing in a Consumer-Oriented
World: Appraisal and Challenges
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Sample Questions
Q1) Advertising can
A)manipulate customers into buying a product.
B)raise the cost of producing a product.
C)assure a product does not fail.
D)prevent economies of scale in manufacturing.
E)increase demand for the product.
Q2) The forces of competition in and among ________ helps speed the diffusion of marketing advances to consumers everywhere.
A)market-directed economies
B)command economies
C)production-oriented firms
D)collectivistic cultures
E)individualistic cultures
Q3) Marketers need to work harder and smarter at finding ways to satisfy consumer needs without sacrificing the environment.
A)True
B)False
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Page 21