Principles of Marketing Exam Solutions
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies used in modern marketing. The course explores the role of marketing within organizations and the broader economy, focusing on the marketing mix (product, price, place, promotion) and target market identification. Students will learn about consumer behavior, market research, segmentation, branding, digital and traditional marketing channels, and the ethical and social responsibilities inherent in marketing practices. Real-world examples and case studies enable students to analyze marketing strategies and develop practical skills necessary for successful marketing decision-making.
Recommended Textbook
MKTG 4th Canadian Edition by Hair
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19 Chapters
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2839 Flashcards
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Page 2
Chapter 1: An Introduction to Marketing
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) What is Saatchi & Saatchi?
A)a global communications and advertising company
B)an accounting company
C)a marketing company
D)a financial business
Answer: A
Q2) Which of the following is a similarity between a production orientation and a sales orientation?
A)Both ignore the importance of assessing a firm's internal capabilities.
B)Both lack an understanding of the needs and wants of the marketplace.
C)Both place little emphasis on the assessment of manufacturing plants and facilities.
D)Both fail in a market where demand exceeds supply.
Answer: B
Q3) What does the term marketing refer to?
A)new product concepts and improvements
B)selling
C)advertising and promotional activities
D)understanding and focusing on customer needs
Answer: D
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Page 3
Chapter 2: The Marketing Environment, Social Responsibility, and Ethics
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Sample Questions
Q1) The competitive environment of a business encompasses the number of competitors the firm must face, the relative size of the competitors, regulatory agencies, and the degree of interdependence within the industry.
A)True
B)False
Answer: False
Q2) What do businesses need to consider when they want to build a high-end store?
A)areas that have good traffic
B)good neighbourhoods
C)close to universities and colleges
D)areas of high income
Answer: D
Q3) What happens when disposable income rises?
A)Families can't afford the "good life."
B)Families can afford the "good life."
C)Families go into more debt.
D)Families travel more.
Answer: B
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Chapter 3: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) Research has shown that young people below the age of 15 do not use the familiar red ketchup as much as older individuals. In 2000, Heinz developed, blue-, purple- and green-coloured ketchup to capture this market. It is not really a new product-just an attempt to reach a new target market. Which type of strategy does this example illustrate?
A)market development
B)product development
C)market penetration
D)product penetration
Answer: A
Q2) Fujisawa is Japan's seventh-largest pharmaceutical company. It sells drugs taken by organ transplant patients to increase the chance that the new organ will operate efficiently. Currently, the only products Fujisawa makes are these organ transplant drugs, which it sells worldwide. Its patents protect it from competitors. What sort of advantage does Fujisawa have?
A)brand name strategy advantage
B)niche competitive advantage
C)cost competitive advantage
D)marketing strategy advantage
Answer: B
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Page 5
Chapter 4: Developing a Global Vision
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Sample Questions
Q1) What is the strategy in which a company decides to enter the global market place?
A)exporting
B)licensing
C)joint venture
D)importing
Q2) What do NAFTA and the EU have in common?
A)They are both boycotts.
B)They are both regional unifications.
C)They are both market groupings.
D)They are both free trade nations.
Q3) A business thinking of expanding into global markets needs to examine its external environment. Which of the following options is NOT part of the external environment?
A)culture
B)political structure and actions
C)marketing mix
D)demographic makeup
Q4) Define and describe exporting. Briefly describe the two types of export intermediaries.
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Chapter 5: Marketing Research
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Sample Questions
Q1) Colgate-Palmolive benefited from research providing interesting information on the state of toothbrushes and brushing habits. Which type of research did the company use to watch consumers in their homes brushing their teeth?
A)experiment
B)dichotomous
C)ethnographic
D)survey
Q2) In the context of the ever-changing marketplace, which of the following statements best describes marketing research?
A)It overlooks the role of word-of-mouth advertising in the promotion process.
B)It helps managers to take advantage of opportunities in the market.
C)It excludes the external environment that affects sales.
D)It results in inaccurate forecasting as the marketplace keeps changing.
Q3) Refer to the scenario. What kind of research methods did the German automobile manufacturer use?
A)observation
B)consumer intercept
C)visualization
D)survey
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Page 7
Chapter 6: Consumer Decision Making
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Sample Questions
Q1) Nancy is pregnant and has been shopping for a baby crib. She has visited several websites that provide information about cribs and has consulted a book by a consumer group on how to keep her baby safe. She has also asked several new mothers for recommendations. In her decision-making process, what has Nancy been using?
A)marketing-controlled information
B)demographic information
C)nonmarketing-controlled information sources
D)secondary data sources
Q2) Families of police officers often alter information they hear about officers who die in the line of duty. This allows them to live and function while their loved one is engaged in a potentially dangerous job without constant anxiety. What is the name for this process?
A)selective retention
B)selective distortion
C)selective exposure
D)selective reinforcement
Q3) The activities, values, and goals of reference groups directly influence consumer behaviour. What are reference groups? What are the three important implications reference groups have for marketers?
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Chapter 7: Business Marketing
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153 Flashcards
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Sample Questions
Q1) Nissan Motor and Mazda Motor announced that the companies have signed an agreement under which Nissan will continue to supply Mazda with light commercial vehicles (LCVs) on an OEM basis. What does this mean?
A)Nissan is an installer of original materials.
B)Mazda is a fabricator.
C)Nissan is an original equipment manufacturer.
D)Mazda will be the producer.
Q2) During the first years of this century, the number of packages arriving at households has more than doubled. An increase in the price of the cardboard boxes in which these packages are shipped will have little effect on the amount of shipping done; the demand for the boxes will continue to increase. What type of demand is the demand for the cardboard boxes?
A)resistant demand
B)inelastic demand
C)derived demand
D)elastic demand
Q3) Name and briefly describe six of the major differences between business and consumer markets.
Q4) What is reciprocity? Is it illegal or unethical? Why or why not?
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Chapter 8: Segmenting, Targeting, and Positioning
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Sample Questions
Q1) Discuss why market segmentation is important to the well-being of most companies.
Q2) The James Hardie Siding Company sells concrete siding. It was having little luck targeting contractors because concrete siding is difficult to install and shows every flaw if a house is incorrectly framed. So Hardie decided to target homeowners who wanted the security of knowing their siding was guaranteed not to rot or crack for 50 years. In terms of psychographic segmentation, which type of variable did the siding company use?
A)lifestyle
B)motives
C)benefits
D)demographic variable
Q3) When making a purchase, satisficers consider numerous suppliers, solicit bids, and study all proposals carefully before selecting one.
A)True
B)False
Q4) What is one-to-one marketing? What is the primary goal for companies that adopt the one-to-one marketing approach?
Q5) What is a market segment? Why do companies engage in market segmentation?
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Chapter 9: Customer Relationship Management CRM
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Sample Questions
Q1) Refer to the scenario. Which of the following provides the most likely reason that Hudson's Bay Company implemented this reward program?
A)to acquire more information about its customers
B)to make sure the 80/20 principle is not influencing its activities
C)to retain loyal customers
D)to increase the importance of customer service
Q2) In a CRM environment, which of the following is defined as the informal process of collecting customer information through customer contacts and feedback on product performance?
A)attitude adjustment
B)organizational perception
C)stimulus/response research
D)learning
Q3) Refer to the scenario. Why did the organization use CRM marketing?
A)to cross-sell other products
B)to design targeted marketing communications
C)to increase effectiveness of its distribution strategy
D)to define customer service
Q4) What is a touch point? Give two examples of touch points.
Q5) What is a data warehouse? How does it differ from a database?
11
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Chapter 10: Product Concepts
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Sample Questions
Q1) There are a number of detergents marketed under the Tide brand including detergent with and without fabric softener, with and without bleach, with various pleasing smells, and fragrance-free. What is the large variety of detergents marketed under the Tide brand an example of?
A)a marketing mix
B)a product line
C)a product mix
D)a merchandise line
Q2) Over time, firms change product items, lines, and mixes or take advantage of new technical or product developments. What is it called when a company changes a product characteristic?
A)diversification
B)repositioning
C)product modification
D)product line expansion
Q3) Products can be classified as either business/industrial or consumer products. What is the difference between business products and consumer products? Why is it important to know about these classifications?
Q4) List and briefly define the three different types of cobranding.
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Refer to the scenario. When the Jabra 1000 was first launched, it most likely appealed to which product adopter category?
A)early adopter
B)early majority
C)late majority
D)innovators
Q2) Campbell has developed a line of premium soups called Campbell's Select Gold Label to go with its red-label brands. This is an example of a new product.
A)True
B)False
Q3) During which stage of the product life cycle do healthy profits usually begin to appear?
A)growth
B)introductory
C)maturity
D)commercialization
Q4) New-product ideas that survive the initial screening process move to the business analysis stage. List six questions that are commonly asked during the business analysis stage.
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Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) Sally has recently opened a daycare business. Positive word-of-mouth will be important in helping the business to grow. Thus, what type of marketing should she use to attract, develop, and retain customers?
A)interactive marketing
B)affiliation marketing
C)patronage marketing
D)relationship marketing
Q2) The Bay offers its corporate employees flexible work hours, work-at-home programs, on-site child care, and travel benefits that reward quality performance. The Bay's approach illustrates relationship marketing in action.
A)True
B)False
Q3) Identifying the customers they want to serve or attract is a nonprofit strategy. A)True
B)False
Q4) Nonprofit organizations may or may not require special facilities for distribution of their services.
A)True
B)False
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Chapter 13: Setting the Right Price
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148 Flashcards
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Sample Questions
Q1) Why do retailers use loss leader pricing?
A)to attract customers to a store so they can be persuaded to buy a more expensive product instead
B)to attract customers to the store so they will buy other products in addition to the leader product
C)to price products at odd-numbered amounts to stimulate demand
D)to maintain a status quo pricing strategy
Q2) Pauline LaMour works as a personal organizer. If she were hired to come to your home and organize your closets, she would charge $500-whether the job took her 15 minutes or the entire day. She feels her fee is justified because of her 20 years of experience. Which pricing policy is LaMour using?
A)professional services pricing
B)price maintenance
C)psychological pricing
D)flexible (or variable) pricing
Q3) Profit maximization means setting prices so that total revenue is as large as possible relative to total costs.
A)True
B)False
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Page 15
Chapter 14: Marketing Channels and Supply Chain Management
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155 Verified Questions
155 Flashcards
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Sample Questions
Q1) Taco Bell sells Mexican-style food using various channels of distribution. Beef and vegetables are key ingredients used by Taco Bell. What are beef producers, vegetable growers, Taco Bell, and consumers part of?
A)a marketing system
B)a transportation channel
C)a marketing channel
D)a logistics system
Q2) One important reason channel members are included between producers and users is the concept of specialization and division of labour. Define these concepts and explain their roles in channels of distribution.
Q3) Aspen Furniture operates only one manufacturing plant in Edmonton, although it has end-customers in both Asia and Europe. What type of discrepancy has been created?
A)spatial
B)temporal
C)assortment
D)quantity
Q4) How does Zara stay ahead in the fashion game?
Q5) Describe some of the challenges that a business would face in going global.
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Chapter 15: Retailing
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Sample Questions
Q1) Which of the following is NOT a reason that an individual may be tempted to buy a franchise rather than develop his or her own independent business?
A)The individual can try his or her own personal innovative product and service ideas in the business.
B)Purchasing a well-known product or service name helps to communicate the brands benefits.
C)Potential franchisees are asked to go through thorough management training.
D)The business's established image cuts down on the uncertainty inherent in operating a new venture.
Q2) This form of retail location first became popular in the 1950s when the population started migrating to the suburbs. It places a diverse group of retailers together in one location. What is it?
A)a freestanding lifestyle centre
B)a shopping centre
C)a mass merchandising centre
D)a mega-mall
Q3) Retailing opportunities can take place without customers shopping at a store. Name and briefly discuss four forms of nonstore retailing.
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Chapter 16: Marketing Communication
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Sample Questions
Q1) What are the two major categories of communications?
A)verbal and nonverbal
B)long term and short term
C)mass and interpersonal
D)informative and persuasive
Q2) Which of the following statements best describes the characteristics of the elements in the promotional mix?
A)The speed of feedback is delayed in sales promotion, advertising, and personal selling.
B)Message flexibility is greatest with advertising.
C)The message flow is two-way in public relations, sales promotions, and personal selling.
D)The most feedback is available with personal selling.
Q3) Discuss online marketing and social media marketing, illustrating them as strong communication tools.
Q4) What are the three basic tasks of promotion? For each of these three tasks, give two specific promotions examples of how that task might be accomplished.
Q5) What is promotion? Why is it a vital part of a company's marketing mix?
Q6) What is integrated marketing communications (IMC)? How is IMC implemented?
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Chapter 17: Advertising, Public Relations, and Direct Response
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Sample Questions
Q1) When Coca-Cola was accused of deliberately trying to poison consumers in India by selling them soft drinks allegedly containing 27 times the maximum amount of pesticide that is permissible, Coke ran ads in national newspapers describing how much care it takes to guarantee the safety of the products it produces. What were these ads examples of?
A)advocacy advertising
B)selective advertising
C)product advertising
D)image advertising
Q2) With which media schedule may an advertiser schedule the ads heavily every other month to achieve a greater impact with an increased frequency and reach at those times?
A)intermittent
B)flighted
C)periodic
D)alternating
Q3) List and briefly describe the three tools of direct-response communication.
Q4) Why does Scotiabank sponsor the Scotiabank Giller Prize?
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Q5) Discuss how advertising and market share work together?Give examples to prove your points.
Chapter 18: Sales Promotion and Personal Selling
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Sample Questions
Q1) What are the seven steps in the personal selling process?
Q2) When a salesperson asks for the sale, he or she is doing which of the following?
A)closing the sale
B)creating empathy
C)reducing cognitive dissonance
D)qualifying the sale
Q3) Hugh is a salesperson for Allied Pets, a company that sells veterinarian supplies. He is working on a needs assessment for Athens Veterinary Clinic. What information will he need to find out about Athens?
Q4) Josh Moran is in charge of finding sponsors for the Reno Rodeo. He is currently talking to a marketing representative from Wrangler jeans to try to convince Wrangler to sponsor the event. Moran is engaged in personal selling.
A)True
B)False
Q5) Companies need to recognize the opportunities in Middle Eastern countries. A)True
B)False
Q6) Discuss personal selling in a global marketplace.
Q7) What is sales promotion? What are the objectives of sales promotion?
Page 20
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Chapter 19: Social Media and Promotion
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Sample Questions
Q1) What is the primary reason modern mobile advertising as a viable marketing strategy has become possible?
A)the development of the microchip
B)the development of the PC
C)the development of Smartphone technology
D)the development of tablet laptops
Q2) Which of the following best describes location-based social networking sites?
A)They are a hybrid of media sharing and social networking sites.
B)They distribute digital audio and video files serially for other people to listen to or watch.
C)They allow users to archive and share photos and interesting external links.
D)They combine the fun of social networking with the utility of location-based GPS technology.
Q3) Of the following, who is most likely to be a LinkedIn user?
A)Erin, a 13-year-old junior high student and music lover
B)Mitch, a 24-year-old songwriter who hopes to make it big in Nashville
C)Sharika, a 35-year-old attorney just opening her own practice
D)Jose, a 50-year-old Blue Jays fan looking for conversation with other baseball lovers
Q4) List four media-sharing sites and show how WestJet would use these platforms.
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