Principles of Marketing Midterm
Exam
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and practices that drive the marketing process in modern organizations. The course explores the core elements including market research, consumer behavior, segmentation, targeting, and positioning, as well as the development of marketing strategies involving the product, price, place, and promotion (the marketing mix). Students will gain an understanding of how organizations identify and serve customer needs, create value, build strong relationships, and adapt to a dynamic marketplace. Real-world examples and case studies provide practical insights into marketings role in achieving business objectives.
Recommended Textbook
Marketing The Core 5th Edition Canadian by Roger A. Kerin
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15 Chapters
1617 Verified Questions
1617 Flashcards
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Chapter 1: Marketing Fundamentals
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) Roxta Confectioners has launched two new products-Big Bear Candy for children and Dark Coffee Sticks for adults.Roxta has set up a different approach for each product.Big Bear Candy will be sold at $0.99 at all retail stores, close to the cash counters.Dark Coffee Sticks will be sold at $4.99, and instead of being merchandised at cash counters, it will be on the shelves of many grocery stores.Roxta has decided to advertise Big Bear Candy to children through television ads.It has also conducted events and games to "Meet Big Bear." For Dark Coffee Sticks, Roxta has tried to connect with adults through newspaper ads and social media.Roxta has been successful in realizing profits through its two products.Roxta used television ads and "Meet the Bear" events for its Big Bear Candy, while it used social media and newspaper ads for Dark Coffee Sticks.Which element of the marketing mix has Roxta used?
A)price
B)place
C)packaging
D)promotion
Answer: D
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Page 3
Chapter 2: The Marketing Environment
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) Brad has $50,000 left after paying taxes and for necessities such as food, shelter, and clothing.This amount refers to his _____.
A)disposable income
B)gross income
C)variable income
D)discretionary income
Answer: D
Q2) Socio-cultural forces refer to cultural values, ideas, and attitudes that are learned and shared among a group of people.
A)True
B)False
Answer: True
Q3) Prices of necessary goods increase in a country due to an increase in the cost of raw materials and labour.This is an example of _____.
A)inflation
B)recession
C)depression
D)biflation
Answer: A
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Page 4
Chapter 3: Consumer Behaviour
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) Temporal effects include the consumer's mood or the amount of cash on hand, which can influence purchase behaviour and choice.
A)True
B)False
Answer: False
Q2) Students of Jade Soccer team wear sweatshirts displaying the team's logo; they are demonstrating pride in a(n) _____ group.
A)dissociative
B)aspiration
C)membership
D)identification
Answer: C
Q3) _____ is the energizing force that stimulates behaviour to satisfy a need.
A)Self-actualization
B)Antecedent state
C)Motivation
D)Cognitive dissonance
Answer: C
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Chapter 4: Market Research Metrics and Analytics
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Andrea is working on some research and she has come across some data that is easily tagged and stored.It is ________.
A)experimental data
B)structured data
C)observational data
D)primary data
Q2) Briefly explain what a marketing experiment is.
Q3) A television manufacturer decides to conduct a research that will provide information about the basic characteristics of its target audience.Which of the following types of market research is the company using?
A)exploratory research
B)descriptive research
C)micro research
D)causal research
Q4) Once data collection is complete, marketers are ready to make decisions.
A)True
B)False
Q5) Explain descriptive research.
Q6) What is the key difference between probability and non-probability sampling?
Page 6
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Chapter 5: B2B Marketing
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) In organizational buying settings, _____ keeps potential customers engaged by providing valuable information.
A)Content marketing
B)NAICS
C)Derived demand
D)Price elasticity
Q2) Once an organization making a purchase decision passes through the problem recognition stage of the process, it reaches the _____ stage.
A)information search
B)post purchase behaviour
C)alternative evaluation
D)purchase decision
Q3) The North American Industry Classification System (NAICS) permits a firm to:
A)find the NAICS codes of its present customers and then obtain NAICS-coded lists for similar firms.
B)get the names of the purchasing agents of all prospective customers.
C)sell to any company within North America as long as it is not a monopoly.
D)engage in benchmarking with companies manufacturing and/or marketing similar products.
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Page 7
Chapter 6: Segmentation Targeting and Positioning
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97 Flashcards
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Sample Questions
Q1) Which of the following is an example of a psychographic descriptor?
A)Johnson & Johnson baby oil is marketed for infants.
B)Water, a mildly fragrant perfume, is endorsed by a famous Hollywood actress renowned for her style.
C)Ready to Eat meals are advertised as the quick and healthy solution for working wives and mothers.
D)A bank markets its home loans as a viable option for those who "are fed up with paying the rent."
Q2) Look, a cosmetic company, purchases Nature, a small cosmetic franchise.Nature manufactures and sells cosmetics that are made of 90 percent natural ingredients, and are not animal-tested.It has always targeted a special audience and has focused its efforts on a limited segment in the market.Look decides to promote products by Nature as a totally separate brand, understanding that the products interest and attract a special segment of the market.This is an example of _____.
A)niche marketing
B)individualized marketing
C)segment marketing
D)family branding
Q3) What is segment marketing? Give an example of segment marketing by a company.
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Page 8
Chapter 7: Products and Brands
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105 Flashcards
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Sample Questions
Q1) Andrea owns We Help, a concierge company with 63 employees providing everyday services such as walking dogs, running errands such as going to the post office, paying bills, and picking up groceries from supermarket. Andrea realizes that the economic momentum is slowing down.Major corporations that were her regular clients have trimmed their budgets and are not using her services any longer.Andrea now has more employees than she needs.This situation is an example of _____.
A)off-peak pricing
B)idle production capacity
C)inverse demand
D)excess demand
Q2) Marketers are free from the responsibility of considering the future of the brand since it falls under the brand planner's duties.
A)True
B)False
Q3) With respect to distribution, shopping products are available:
A)by special order from the manufacturer.
B)at an extremely small number of outlets.
C)at relatively few outlets.
D)at a large number of selective outlets.
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Page 9
Chapter 8: New Product Development
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) What are the two approaches marketers adopt in the decline stage of a product life cycle?
Q2) Diversification refers to:
A)focusing on current customers with promotional tactics.
B)looking to develop new products for current customers.
C)moving out into new markets with totally new products.
D)targeting new markets with the current products.
Q3) A Nokia cellphone is an example of a high-learning product because it requires educating consumers about its use and benefits.
A)True
B)False
Q4) A concept test is:
A)when a new product is brought to market with full-scale production, sales, and marketing support.
B)the offering of a product for sale on a limited basis in a defined geographic area.
C)when a new product idea is turned into a prototype.
D)an external evaluation of a new product idea.
Q5) Explain in brief the introduction stage of a product life cycle.
Q6) What is business analysis?
Page 10
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Chapter 9: Pricing
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Elastic demand exists when:
A)a small percentage decrease in price produces a smaller percentage increase in quantity demanded and total revenue falls.
B)a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases.
C)an increase in price causes a larger increase in quantity demanded and total revenue falls to zero.
D)a small percentage decrease in price produces a smaller percentage decrease in quantity demanded and total revenue increases.
Q2) The owner of a small restaurant that sells take-out fried chicken spends monthly amounts of $2,500 in rent, $500 in utilities, $750 in loan interest, $200 in insurance premium, and $250 for advertising on local buses.A bucket of take-out chicken is priced at $9.50.Unit variable costs for the bucket of chicken are $5.50. How many buckets of chicken does the restaurant need to sell to break even?
A)988
B)1,000
C)1,050
D)3,150
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Chapter 10: Marketing Channels and Supply Chain
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) The distribution approach that Zephyr's adopted is called _____.
A)dual distribution
B)exclusive distribution
C)selective distribution
D)direct distribution
Q2) Candletime, a company manufacturing different types of candles for cakes, sells its candles through different bakeries in the city.In this scenario, Candletime is using the bakeries' marketing channel to sell its candles products.This is an example of a(n)
A)virtual marketing channel
B)strategic channel alliance
C)consumer-responsive channel
D)electronic marketing channel
Q3) Which of the following distribution channels did Holler's Jeans adopt for its products?
A)intensive distribution
B)dual distribution
C)exclusive distribution
D)selective distribution
Q4) Describe the four key logistics functions in a supply chain using examples.
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Chapter 11: Retailing and Wholesaling
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) Although franchising increases the parent company's degree of control, it leads to an increase in costs of expansion.
A)True
B)False
Q2) A community shopping centre is a:
A)suburban mall containing up to 100 stores, often including one or two anchor stores, with a typical driving distance of over 5 to 15 kilometres from the city centre.
B)cluster of stores in a downtown area.
C)retail location that has one primary store and often about 20 to 40 smaller outlets and serves those who are within a 2- to 5-kilometre drive.
D)cluster of stores that serves people who are within a 5- to 10-minute drive and live in a population base under 30,000.
Q3) Customers enjoy the advantages of convenience, quality personal service, and lifestyle compatibility through corporate chains.
A)True
B)False
Q4) Describe choice and customization as reasons why consumers shop and buy online.
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Chapter 12: Marketing Communications
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93 Flashcards
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Sample Questions
Q1) Describe the offline and online approaches of direct response marketing.
Q2) Kayne Products is a firm that manufactures consumer products.The company is planning to launch a new brand of perfumes that provide lasting aroma.The company requests consumers to submit taglines for the new product and offers rewards for the best tagline.This promotional activity is an example of a _____.
A)bonus pack
B)premium
C)contest
D)coupon
Q3) The competitive parity, all-you-can-afford, percentage of sales, and objective and task approaches all refer to
A)Advertising approaches
B)Promotional budgeting
C)Consumer Advocacy Funnel
D)Product life cycle
Q4) The CRTC regulates the broadcast and telecommunications industries in Canada.
A)True
B)False
Q5) What are the different marketing communication tools?
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Chapter 13: Digital Marketing Communications
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Promotional websites focus on converting online searchers into online buyers.
A)True
B)False
Q2) Twitter was launched in 2006 as a _______.
A)viral marketing network
B)free social media site
C)paid marketing network
D)network for communication and engagement
Q3) Bluetooth technology refers to.
A)a smartphone
B)low-power radio waves that transfer text
C)QR codes
D)high-power micro waves
Q4) Mobile marketing tools assist marketers to create ______.
A)customer value
B)personalized communications
C)a marketing concept
D)relationship marketing
Q5) What is social media marketing?
Q6) Discuss showrooming and give an example?
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Chapter 14: Customer Relationship Management
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91 Flashcards
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Sample Questions
Q1) Describe the concept of customer relationship management.
Q2) Understanding individual interaction at each _____ is a better measure of customer loyalty than just measuring overall customer satisfaction.
A)tangible contact
B)touch point
C)stimulus
D)response centre
Q3) CRM is the process of building and maintaining profitable customer relationships
A)True
B)False
Q4) Which of the following is true about touch points?
A)They refer to the points along the price line at which the purchased product passes onto the customer's hands.
B)Measuring the overall customer satisfaction is a better measure of customer loyalty than measuring the same at each touch point.
C)A call centre is an example of a human touch point.
D)Measuring customer loyalty starts with understanding and listing the total customer interactions that influenced the customers' satisfaction.
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Chapter 15: Marketing and Strategic Planning
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Marketing tactics include the:
A)long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)steps taken to develop an effective marketing plan.
D)development of marketing strategies to achieve the organization's marketing objectives.
Q2) A _____ is a road map for the marketing activities of an organization for a specified future period of time, such as one year or five years.
A)shareholders' vision
B)market-product analysis
C)marketing plan
D)mission statement
Q3) Differentiate between a business firm and a not-for-profit organization.Give examples of each.
Q4) A firm can divest its SBU by selling it to gain cash.
A)True
B)False
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