Principles of Marketing Exam Questions
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies used in the marketing of goods, services, and ideas. The course covers essential topics such as market segmentation, target marketing, consumer behavior, product development, pricing strategies, distribution channels, and promotional tactics.
Emphasizing the role of marketing in the contemporary business environment, students will learn how marketing decisions are made and how they impact both organizations and consumers. Through case studies, real-world examples, and practical applications, this course provides a solid foundation for understanding how to effectively create and deliver value in a constantly evolving marketplace.
Recommended Textbook
Marketing Real People Real Choices 3rd Edition by Michael Solomon
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14 Chapters
1765 Verified Questions
1765 Flashcards
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Chapter 1: Welcome to the World of Marketing: Creating and Delivering Value
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) The ________ element of the marketing mix is used to communicate the value proposition.
A)price
B)promotion
C)production
D)distribution
E)place
Answer: B
Q2) Automobiles,haircuts,car repairs,lighting fixtures and chocolate bars are all examples of consumer goods.
A)True
B)False
Answer: False
Q3) The term inbound logistics refers to converting materials into final products.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Strategic Market Planning: Taking the Big Picture
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) ________ occurs when competitors offer similar goods or services in an attempt to satisfy the same consumers' needs and wants.
A)Competitive intelligence
B)A monopoly
C)Product competition
D)Brand competition
E)A market penetration strategy
Answer: D
Q2) A marketing plan for an amusement park would include ________.
A)marketing objectives such as 'to increase local attendance by 20%'
B)marketing research data on the travel plans of its target audience as one element of its marketing environment
C)a list of who will be responsible for implementing each part of its marketing strategy
D)the outline for a market development strategy
E)All of the above
Answer: E
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Chapter 3: Thriving in the Marketing Environment: The
World Is Flat
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158 Verified Questions
158 Flashcards
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Sample Questions
Q1) A company only needs to know a nation's gross domestic product to determine if it will be an attractive market.
A)True
B)False
Answer: False
Q2) Discuss how straight extension,product adaptation and product invention strategies differ,with examples,and why marketers might choose each particular strategy. Answer: With a straight extension strategy,the same product is sold in both domestic and international markets.In this case,the marketer is assuming that consumer tastes do not differ between markets - for example,the songs of rock band U2.With a product adaptation strategy,changes are made to the product for each foreign market,reflecting different product preferences - for example,McDonald's makes slight changes to its product offerings to reflect local tastes and preferences such as a fried egg on burgers sold in Australia and New Zealand or spicier sauces in Asian countries.With a product invention strategy,the company develops a new product for a specific international market to reflect local conditions - for example,smaller sized household appliances with sound protection for smaller apartments in Japan.
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Page 5
Chapter 4: Marketing Research: Gathering,analysing and Using Information
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Ideally,marketing research is an ongoing process.
A)True
B)False
Q2) A particular section of the Sony Store displays video games currently in development or about to be launched and allows consumers to 'test drive' them.
A)Online questionnaire
B)Telephone interviews
C)Face-to-face interviews
D)Observation method
E)Mechanical observation
Q3) Which of the following is/are a source of information for a marketing intelligence system?
A)Observational research
B)Salespeople
C)Trade publications
D)Current customers
E)All of the above
Q4) Critically evaluate the various data collection methods.
Page 6
Q5) A marketer needs to rely only on marketing intelligence for data.Discuss.
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Chapter 5: Consumer Behaviour: How and Why We Buy
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Consumers often rely on decision rules or guidelines when weighing the claims companies make.
A)buying plans
B)heuristics
C)core competencies
D)analogies
E)synergistic criteria
Q2) Behavioural learning theorists ________.
A)view people as problem solvers who do more than passively react to associations between stimuli
B)assume learning takes place as the result of connections that form between events that we perceive
C)believe the most important component of learning is behaviour that is directed by affect and cognition
D)believe learning occurs when people watch the actions of others and note what happens to them as a result
E)stress the role of creativity and intuition during the learning process
Q3) What does the term 'social class' mean? How does the car that someone drives reflect his/her perceived social class?
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Page 7
Chapter 6: Business-To-Business Markets: How and Why
Organisations Buy
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60 Verified Questions
60 Flashcards
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Sample Questions
Q1) Which of the following statements about buying centres is true?
A)The buying centre is like a standing committee.
B)The members of a buying centre typically participate in a cross-functional team.
C)The most commonly found buying centre has six employees-one to assume each of the buying centre's roles.
D)An individual's role in the buying centre does not change.
E)The buying centre roles are specified on the organisational chart.
Q2) With ________,it usually does not matter if the price of a business-to-business product goes up or down- the business customer will still buy the same quantity.
A)elastic demand
B)economic demand
C)inelastic demand
D)derived demand
E)fixed demand
Q3) A restaurant chain's demand for beef is derived from consumer demand for hamburgers.
A)True
B)False
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Chapter 7: Sharpening the Focus: Target Marketing
Strategies and Customer Relationship Management
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160 Verified Questions
160 Flashcards
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Sample Questions
Q1) The average collector of 'It's a small world' collectible miniatures will buy four new ones each year.
A)synergistic feedback
B)economic share
C)customer allocation
D)share of communication
E)share of customer
Q2) Gathering geographic information about Australia and New Zealand is difficult as governments only collect information about these countries as a whole.
A)True
B)False
Q3) A firm has categorised its customers into two groups.Each customer has been identified as being either a high-volume customer or a low-volume customer.Why would a firm want to implement different styles of communication for each group of customers? Identify one means of communication that would be best suited to be utilised by a firm for each of these customer groups.
Q4) Marketers are not interested in tweens as they have limited money of their own.
A)True
B)False
9
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Chapter 8: Creating and Managing Products
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) Explain the factors that affect the rate of adoption and the strategies marketers can adopt.
Q2) Procter & Gamble makes a range of consumer products,each with its own separate and unique brand name e.g.Vidal Sassoon shampoo and Duracell batteries.Procter & Gamble is using a/n ________ strategy.
A)umbrella brand
B)individual brand
C)family brand
D)private-label brand
E)compound branding
Q3) For an amusement park,concession food trailers,the first-aid building,and the building where the park's daily receipts are tallied are all examples of ________.
A)equipment
B)MRO products
C)convenience products
D)specialty products
E)processed materials
Q4) Explain the three layers of a product and illustrate using an example from your own experience.
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Chapter 9: Services and Other Intangibles: Marketing a
Product That Isnt There
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Which of the following services will most likely be evaluated using credence qualities?
A)A cooking class
B)Surgery to repair a leaky heart valve
C)A movie
D)A stay at a resort
E)A haircut
Q2) Compare and contrast the following terms: pure selling approach,product improvement approach,and market fulfillment approach?
Q3) Sheraton Hotels & Resorts launched a program to improve service quality.All Sheraton employees were given a detailed written list of specific goals that must be accomplished in order to ensure customer satisfaction.Then all employees received training to show them exactly how the objectives were to be met.Sheraton is working to make sure a gap analysis does not show it has a gap between ________.
A)customer expectations and management perceptions
B)management perception and quality standards set by the firm
C)established quality standards and service delivery
D)service quality standards and consumer expectations
E)expected service and perceived service
Page 11
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Chapter 10: Pricing the Product
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) The Competition and Consumer Act 2010 is administered by ________.
A)the ACCCC
B)the Australian Consumer and Competition Commission
C)the Australian Competition and Consumer Commission
D)the Better Business Bureau
E)the Commerce Commission
Q2) Discuss opportunity costs from the perspective of a student.
Q3) ________ allow/s shoppers to bid on everything from used toys to new health-and-fitness equipment.
A)Loss leader pricing
B)Price bundling
C)Captive pricing
D)Dynamic pricing
E)Online auctions
Q4) With cost-plus pricing,the mark-up is added to the selling price.
A)True
B)False
Q5) Discuss the impact of consumer trends on the pricing environment.
Q6) Explain why a marketer might price a product at $1.99 rather than $2.00 and vice versa.
Page 12
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Chapter 11: One-To-Many: Advertising,consumer Sales
Promotion and Public Relations
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144 Verified Questions
144 Flashcards
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Sample Questions
Q1) As Brandon searched through the supermarket to find marshmallows,he passed a colourful sign 'Visit our deli department - Buy one tray of scones and get the other one free.' This is an example of ________.
A)brand placement
B)a point-of-purchase promotion
C)push money
D)transit signage
E)a trade show
Q2) Frequency is the ________.
A)total number of ads in one advertising campaign
B)total number of people who will be exposed to an ad placed in one media vehicle
C)percentage of people who will be exposed to an ad more than twice
D)percentage of people who will be exposed to the media vehicle
E)number of times a person in the target group will be exposed to an ad
Q3) Communication cannot occur unless a sender is there to get the message.
A)True
B)False
Q4) Explain the difference between a contest and a sweepstakes.Which do you prefer?
Q5) Outline the different types of advertising and provide an example of each.
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79 Flashcards
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Sample Questions
Q1) A downside of sales contests is that ________.
A)they can be easily overused
B)they may eliminate any long-term sales increases
C)they motivate salespeople to simply wait to sell subject products until the contest period
D)A and B
E)A,B,and C
Q2) Personal selling is a team effort that requires careful planning and having salespeople available when and where customers need them.Discuss the major decisions associated with sales management.
Q3) Setting a target of contacting five customers per week to touch base with is an example of a sales performance objective.
A)True
B)False
Q4) Relationship selling involves securing,developing,and maintaining long-term relationships with profitable customers.Identify a product.How is each of these steps being accomplished with regards to the sale of this product to a customer?
Q5) Explain what occurs in the first two steps of the creative selling process.
Page 14
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Chapter 13: Many-To-Many: Online Marketing
Communication and New Media
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56 Verified Questions
56 Flashcards
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Sample Questions
Q1) What advantages would new media provide to marketers of a new energy drink?
Q2) Why would marketers be interested in click-through rates,cost per thousand impressions and cost per action?
Q3) The majority of Facebook users disclose personal information.How can marketers use this information?
Q4) Which of the following statements is/are not true about internet versus traditional marketing communication channels?
A)Traditional marketing communication channels engage consumers in a relatively passive way.
B)Online advertising has the ability to have instant dynamic interactions.
C)Traditional media involves two-way flows of information.
D)When consumers engage on the internet it is generally with an active mind-set.
E)All of the above
Q5) Which of the following is not an online effectiveness metric?
A)Bounce rate
B)Unique action rate
C)Cost per conversion
D)Conversion rate
E)Abandonment rate
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Chapter 14: Delivering Value Through Supply Chains and Logistics
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) Why would manufacturers use a direct channel of distribution?
A)To eliminate all channel functions
B)Because of consumer familiarity with known retailers
C)To have more control over product distribution
D)To reduce the fixed costs associated with production
E)To more efficiently distribute services
Q2) ________ are manufacturer-owned facilities that do not carry inventory but provide selling functions for the manufacturer in a specific geographic area.
A)Sales offices
B)Manufacturers' showroom
C)Sales branches
D)Commission merchants
E)Merchandise brokers
Q3) How does e-commerce benefit marketers?
A)It allows the retailer to use real-time pricing.
B)It means the world is the retailer's marketplace.
C)It decreases the cost of doing business.
D)It allows very specialised businesses to be successful.
E)All of the above
Q4) How might the internet affect the operations of a local DVD rental outlet?
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