Principles of Marketing
Midterm Exam
Course Introduction
Principles of Marketing provides an introduction to the fundamental concepts and strategies used in modern marketing. The course examines how organizations identify and satisfy customer needs, segment markets, and develop products and services. Key topics include the marketing mix (product, price, place, promotion), consumer behavior, market research, branding, and the impact of digital technologies on marketing strategies. Students also explore ethical considerations and global perspectives in marketing, gaining practical skills to analyze markets and formulate effective marketing plans.
Recommended Textbook
Marketing An Introduction 5th Canadian Edition by Gary Armstrong
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14 Chapters
2319 Verified Questions
2319 Flashcards
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Chapter 1: Marketing: Creating and Capturing Customer Value
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) Selecting which segments of a population of customers to serve is called ________.
market segmentation positioning customization target marketing choosing a value proposition
Answer: target marketing
Q2) According to management guru Peter Drucker, "The aim of marketing is to ________."
create customer demands identify customer demands make selling unnecessary set realistic customer expectations sell products
Answer: make selling unnecessary
Q3) When backed by buying power, needs become wants.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Company and Marketing Strategy: Partnering to
Build Customer Relationships
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163 Verified Questions
163 Flashcards
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Sample Questions
Q1) When the makers of a ballpoint pen state they are in the communication equipment business, they are defining their mission too ________. narrowly realistically specifically broadly early
Answer: broadly
Q2) The growth strategy of diversification involves offering modified or new products to current markets.
A)True
B)False Answer: False
Q3) The primary activity in strategic planning is goal setting. A)True B)False Answer: False
Q4) Into what BCG quadrant does a high-share, high-growth SBU fall? Answer: It falls into the "star" category.
Page 4
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Chapter 3: Sustainable Marketing: Social Responsibility and Ethics
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Consumers can rarely buy functional versions of highly promoted branded products at lower prices.
A)True
B)False
Answer: False
Q2) Compare and contrast the two common principles that can be used to guide companies and marketing managers on issues of ethics and social responsibility.
Answer: One principle states that such issues should be decided by the free market and legal system. A second, and more enlightened principle, puts responsibility not in the system but in the hands of individual companies and managers. Each firm and marketing manager must work out a philosophy of socially responsible and ethical behavior. Under the societal marketing concept, managers must look beyond what is legal and allowable and develop standards based on personal integrity, corporate conscience, and long-term consumer welfare.
Q3) How do design for environment (DFE) practices relate to product stewardship?
Answer: DFE practices involve thinking ahead to design products that are easier to recover, reuse, or recycle; these practices are a part of product stewardship.
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Page 5
Chapter 4: Analyzing the Marketing Environment
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152 Verified Questions
152 Flashcards
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Sample Questions
Q1) Why might marketers want to target segments of the population based on lifestyles rather than age groups?
Q2) Why should a company care about the macroenvironment?
Q3) The number of ________ households is now growing faster than the number of ________ households. traditional; nontraditional large; traditional nontraditional; smaller nontraditional; traditional male-dominant; female-dominant
Q4) Of the following diversity segments in the Canadian population, which has considerable spending power as well as great need for tailored products and services?
Adults with disabilities
Hispanics
African Canadians
Telecommuters
Asian Canadians
Q5) Give two characteristics of the Canadian family that depict its "nontraditional" nature.
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Chapter 5: Managing Marketing Information to Gain Customer Insights
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) ________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. The marketing information system
Marketing research
Exploratory research
Observational research
Causal research
Q2) Which of the following is the best advice about creating research questionnaires? Use simple, direct, and unbiased language. Questions should not be arranged in a particular order. Ask difficult questions in the beginning to "weed out" uninterested respondents. Ask personal questions in the middle of the instrument. Avoid personal questions that may make some respondents uncomfortable.
Q3) Ethnographic research ________. comes from traditional focus groups is gathered in consumers in their natural habitat (where people live and work) provides secondary data is most popular in the service sector provides data to marketers when observation is impossible
Page 7
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Chapter 6: Understanding Consumer and Business Buyer
Behaviour
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168 Verified Questions
168 Flashcards
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Sample Questions
Q1) Brand personality is a mix of human traits attributed to a brand.Which of the following is a leading brand personality traits discussed in your text? sincerity empathy confidence indecision emotion
Q2) How can marketers influence business buyers who are in the problem recognition stage?
Q3) One set of business purchases is made for each set of consumer purchases. A)True B)False
Q4) A ________ consists of the activities people are expected to perform according to the persons around them. motive role lifestyle life-cycle tradition
Page 8
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Chapter 7: Segmentation, Targeting, and Positioning
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) "Less-for-much-less" positioning involves meeting consumers' ________. quality performance requirements at a lower price lower quality requirements in exchange for a lower price lower quality requirements at the lowest possible price high quality requirements at a discounted rate high quality requirements at the lowest possible price
Q2) Procter & Gamble sells six brands of laundry detergent in North America, each designed for one of six laundry type segments Procter & Gamble has identified.Together, these six brands take four times the market share of Procter & Gamble's nearest competitor.Which of the following is a disadvantage of Procter & Gamble's differentiated marketing strategy? lost sales that would have been made with an undifferentiated marketing strategy across all segments lost customer loyalty due to lack of brand loyalty increased costs for separate marketing plans for each brand other suppliers controlling pricing lack of resources to succeed in an attractive segment
Q3) Why must marketers guard against stereotypes when using age and life cycle segmentation?
Q4) Compare and contrast four major segmenting strategies.
Page 9
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Chapter 8: Developing and Managing Products and Services
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199 Verified Questions
199 Flashcards
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Sample Questions
Q1) ________ refers to a detailed version of the new-product idea stated in meaningful consumer terms.
Product generation
The product concept
Product testing
Product commercialization
Product crowdsourcing
Q2) A company's market offering usually includes some support services.
A)True
B)False
Q3) Because so many purchase decisions are made in stores, a product's packaging may be a seller's last and best chance to influence consumers.
A)True
B)False
Q4) Companies rarely solicit ideas from customers during the idea generation stage of product development.
A)True
B)False
Q5) Why might a company pursue a strategy of less product mix consistency?
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Chapter 9: Brand Strategy and Management
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) In the long run, national brands must invest in __________ to bring out new brands, new features, and continuous quality improvements. research and development subsidiaries gimmicks logistical solutions advertising
Q2) To create brand advocates some brand managers try to make __________ part of the brand story.
Q3) To create brand advocates some brand managers try to make ________ part of the brand story. people profit advertisements product development customers and employees
Q4) The __________ is the sum total of all the attributes of a brand, and the emotions it inspires in the minds of consumers.
Q5) Brands must be maintained by advertising, promotions and __________ .
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Chapter 10: Pricing: Understanding and Capturing
Customer Value
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170 Verified Questions
170 Flashcards
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Sample Questions
Q1) ________ is the amount of money charged for a product or service.
Experience curve
Demand curve
Price
Wage
Salary
Q2) Cost-based pricing relies on consumer perception of value to drive pricing.
A)True
B)False
Q3) Target costing reverses the usual marketing process.
A)True
B)False
Q4) Scenario
Quills, Inc., is a manufacturer of ball-point pens, pencils, and stationery.The firm's primary distribution strategy is to sell in large volumes to office supply stores and large discount chains.Charles Powell, CEO of Quills, had hoped to manufacture and sell in large enough quantities that prices could be held low.However, in the first several months, the firm experimented with the price portion of its marketing mix in an effort to cater to a number of markets.
Explain how product-form pricing may be a pricing option at Quills.
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Chapter 11: Marketing Channels
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171 Verified Questions
171 Flashcards
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Sample Questions
Q1) Overstock.com, a web seller that buys furniture, clothing, electronics, and more from a variety of producers at less-than-regular wholesale prices and then charges customers less than retail, is a(n) ________. discount store independent off-price retailer factory outlet wholesale club category killer
Q2) How do channel members add value?
Q3) Which of the following is most likely the greatest factor in the increasingly short life cycle of new retail forms? changes in technology economic swings import and export regulations stagnating retail convergence global expansion of major retailers
Q4) Why are more and more companies turning to third-party logistics providers (3PLs)?
Q5) Give two examples of multichannel distribution systems.
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Chapter 12: Communicating Customer Value: Advertising and Public Relations
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169 Verified Questions
169 Flashcards
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Sample Questions
Q1) Developments in communications technology are speeding the movement toward segmented marketing.
A)True
B)False
Q2) When does a marketer use a comparative ad?
Q3) ________ is the company's most expensive promotion tool.
Advertising
Personal selling
Mass media
Public relations
Publicity
Q4) Companies are doing less ________ and more ________ as a result of an explosion of more focused media that better match today's targeting strategies. marketing; media media; sales narrowcasting; broadcasting broadcasting; narrowcasting advertising; word-of-mouth
Q5) Explain a push strategy.
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Chapter 13: Personal Selling and Sales Promotion
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169 Verified Questions
169 Flashcards
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Sample Questions
Q1) Salespeople represent the company to the customers and also act as "champions" for customers' interests.
A)True
B)False
Q2) Scenario
Reliable Tool Company manufactures hubs and axles for the trailer and heavy truck industry.Though the customer base is small, monthly sales at Reliable are approximately $1 million."You might say we have all of our eggs in one basket," says owner Arthur Deetz.Reliable Tool has captured "a small piece of the pie" but is the sole supplier of hub and axle components to its customers; therefore, it is critical that a competent sales force be maintained in order to nurture those few but large accounts.Ninety-five percent of Reliable's customers are located in Michigan, Ohio, and Indiana.Travel time to all customers is short but, given the nature of the industry, time spent with each customer is essential.
In order to motivate Reliable Tool's workforce, which of the four compensation plans may work best?
Q3) What does a time-and-duty analysis reveal?
Q4) Why might the follow-up be considered the most critical step of the sales process?
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Page 15
Chapter 14: Direct and Online Marketing
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158 Verified Questions
158 Flashcards
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Sample Questions
Q1) The popular press has paid the little attention to ________ online marketing even though this domain is flourishing. B2C
global
Q2) Which of the following is a potential drawback of advertising on or attempting to influence content on a blog?
Advertising on a blog is typically very expensive. It is difficult to use blogs to reach highly targeted audiences. The content of a blog is difficult to control.
Blogs are losing popularity.
Blogs do not provide the kind of personalized medium that today's marketers want.
Q3) Today, many click-and-mortar companies are experiencing more online success than their click-only competitors.
A)True
B)False
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