Principles of Marketing Mock Exam
Course Introduction
Principles of Marketing provides students with a foundational understanding of the key concepts and functions involved in modern marketing. The course covers the process of identifying and satisfying customer needs, market research, segmentation, targeting, and positioning, as well as the development of effective marketing strategies. Students will explore the marketing mix (product, price, place, promotion), consumer behavior, branding, and digital marketing trends. Through case studies and real-world examples, learners will develop analytical and decision-making skills essential for crafting successful marketing strategies in a dynamic and competitive environment.
Recommended Textbook Marketing Management 3rd Edition by Greg Marshall
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14 Chapters
1339 Verified Questions
1339 Flashcards
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Page 2
Chapter 1: Marketing in Today's Business Milieu
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92 Verified Questions
92 Flashcards
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Sample Questions
Q1) In the context of change drivers impacting the future of marketing, marketing tactics such as designing the elements of the marketing mix are reflected in the ________.
A) shift to product glut and customer shortage
B) shift in power from marketer to customer
C) shift in generational values and preferences
D) shift to distinguishing Marketing (Big M) from marketing (little m)
E) shift to justifying the relevance and payback of the marketing investment
Answer: D
Q2) For successful Marketing (Big M), customer orientation must be understood by
A) an organization's competitors
B) the top management only
C) an organization's suppliers
D) the existing customers
E) everyone in the organization
Answer: E
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Chapter 2: Marketing Foundations: Global, Ethical, Sustainable
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Bistrone corn canned soup was made expressly for the Japanese market by Coca-Cola Japan. This is an example of ________.
A) direct product extension
B) product adaptation
C) backward product adaptation
D) product invention
E) hybrid products
Answer: D
Q2) What area in marketing presents the most ethical challenges?
A) product
B) price
C) distribution
D) marketing communications
E) promotion
Answer: E
Q3) The economic output of the European Union (EU) is larger than that of the United States.
A)True
B)False
Answer: FALSE
Page 4
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Chapter 3: Elements of Marketing Strategy, Planning, and Competition
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Inga, marketing manager at Sunshine, a professional preschool center, thinks the firm should start an after-school program for its current clients. This makes sense as she wants to extend the trusting relationship already established with parents and children. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.
A) market diversification
B) product differentiation
C) market penetration
D) product development
E) market development
Answer: D
Q2) From a customer's perspective, value is the ratio of the bundle of benefits a customer receives from an offering compared to the costs incurred by the customer in acquiring that bundle of benefits.
A)True
B)False
Answer: TRUE
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Page 5
Chapter 4: Market Research Essentials
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) To ensure the primary data they collected about consumer reactions to their product were accurate, the makers of Classic Toiletries hired a single research firm to visit certain cities in various countries. In the past, the company had used mail and telephone surveys by local companies in each country to gather data, but it was concerned about whom these companies were surveying and if they actually fit the demographic and lifestyle profiles of Classic's target market. Classic hired a new research firm to overcome the problem of ________ that can occur when collecting primary data in global markets.
A) unwillingness to respond
B) limited access
C) unreliable sampling procedures
D) inaccurate language translation
E) insufficient comprehension
Q2) Which of the following is an external source of collecting information for making marketing decisions?
A) customer orders
B) marketing plans
C) salesperson information systems
D) customer inquiries
E) ethnic groups
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Chapter 5: CRM, Big Data, and Marketing Analytics
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) It is possible today to calculate the total financial returns for each customer.
A)True
B)False
Q2) What is Big Data? How is it relevant to marketing? Describe the four Vs of Big Data.
Q3) The marketing ________ is a comprehensive system providing managers with up-to-the-minute information, including data such as actual sales versus forecast and progress on marketing plan objectives.
A) accelerator
B) matrix
C) dashboard
D) equation
E) strategy
Q4) Investment decisions in marketing must consider the following elements EXCEPT ________.
A) level of investment
B) returns
C) risks
D) human resources
E) hurdle rates
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Chapter 6: Understand Consumer and Business Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Electronic data interchange (EDI) allows ________.
A) organizations to request RFPs from potential vendors
B) customer computers to communicate directly with supplier computers
C) computers to fulfill the functions of a buying center on a virtual network
D) customers to determine the real cost of a purchase through a set of computer metrics
E) organizations to maintain a more personal relationship with customers through e-mail
Q2) ________ fulfill an important role by classifying, explaining, and then bestowing information, most often to family and friends but occasionally to a broader audience.
A) Gatekeepers
B) Influencers
C) Affiliation groups
D) Reference groups
E) Opinion leaders
Q3) The sales proposal gives the company an opportunity to showcase its unique products, service, and pricing.
A)True
B)False
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Page 8
Chapter 7: Segmentation, Target Marketing, and Positioning
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Firms that develop such close relationships with customers that they seem to deliver customized goods and services are engaged in ________ marketing.
A) concentrated target marketing
B) one-to-one marketing
C) differentiated marketing
D) undifferentiated marketing
E) shotgun marketing
Q2) Demographic segmentation is best described as using characteristics of ________ to segment the market.
A) human populations
B) geography
C) economics
D) political stability
E) government regulations
Q3) A tertiary target market has reasonable potential but is not suited for development immediately.
A)True
B)False
Q4) Describe the VALS framework.
Page 9
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Chapter 8: Product Strategy and New Product Development
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) In the ________ phase of the product life cycle (PLC), sales continue to increase but at a decreasing rate.
A) maturity
B) growth
C) introduction
D) decline
E) initial
Q2) When a company can show that its product's projected lifetime is high under certain operating conditions, it is using ________ as a product discriminator.
A) style
B) performance quality
C) form
D) durability
E) conformance quality
Q3) A stock-keeping unit (SKU) is a unique identification number used to track a product in the consumer's home.
A)True
B)False
Q4) Explain the four categories of consumer goods and give an example of each.
Page 10
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Chapter 9: Build the Brand
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Sample Questions
Q1) When a competitor used its logo in a disparaging way in an advertisement, Max Corp. sued. It won the suit on the basis that the competitor violated its trademark. Which company brand role does this scenario exemplify?
A) providing competitors with a benchmark against which to compete
B) offering an effective and efficient methodology for categorizing products
C) offering legal protection for a product
D) helping reassure the customer in the purchase decision
E) educating the customer about a product
Q2) Because of its reputation for excellent flavor and increasing energy, DBM Beverages is able to charge a price premium for its products. Which of the following dimensions of brand equity does this example illustrate?
A) perceived quality
B) brand strategy
C) brand connections
D) perceived bonuses
E) brand loyalty
Q3) A trademark for a product is a brand asset.
A)True
B)False
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Page 11
Chapter 10: Service as the Core Offering
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) ________ represents a formalization of the measurement of customer expectations of a service compared to perceptions of actual service performance.
A) Customer delight
B) Service encounter
C) Service quality
D) Service excellence
E) Moment of truth
Q2) Services possess several distinct characteristics that are different from those of physical goods, including intangibility, inseparability, variability, and perishability.
A)True
B)False
Q3) There is a debate about whether students in business education are "customers" or products that need to be branded.
A)True
B)False
Q4) In a service blueprint, "moments of truth" occur below the line of visibility.
A)True
B)False
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Page 12
Chapter 11: Manage Pricing Decisions
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) ________ are typically expressed as greatly extended invoice due dates.
A) Cash discounts
B) Trade discounts
C) Quantity discounts
D) Seasonal discounts
E) Promotional allowances
Q2) As with average-cost pricing, the effectiveness of ________ pricing is highly dependent on the accuracy of the forecast.
A) cost-plus
B) psychological
C) reference
D) average-cost
E) target return
Q3) With prestige pricing, some of the traditional price/demand curves cannot properly predict sales or market response because it violates the common assumption that increasing price decreases volume.
A)True
B)False
Q4) Define the four types of channel discounts and provide an example of each.
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Chapter 12: Manage Marketing Channels, Logistics, and Supply Chain
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) ________ power can take the form of sharing important product knowledge. A) Coercive
B) Reward
C) Expert
D) Referent
E) Legitimate
Q2) Define channel power and explain how it can lead to channel conflict. How does it affect vertical marketing systems?
Q3) Unresolved channel conflict will never result in an uncooperative and inefficient channel; however, it may impact end-user consumers through inferior products, spotty inventory, and higher prices.
A)True
B)False
Q4) Physical distribution, or logistics, is the integrated process of moving input materials to the producer, in-process inventory through the firm, and finished goods out of the firm through the channel of distribution.
A)True
B)False
Q5) Explain the difference between a push and pull strategy.
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Chapter 13: Promotion Essentials: Digital and Social Media Marketing
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) The cognitive step of the AIDA model is ________.
A) attention
B) interest
C) desire
D) remembering action
E) advertising
Q2) Coca-Cola intends to invest further in promotion to help maintain brand loyalty from its existing customers. Which of the following capabilities of promotion is Coca-Cola demonstrating?
A) to inform
B) to persuade
C) to remind D) to sell
E) to take action
Q3) Public relations uses publicity, such as news stories and mentions at public events, as a method for influencing the attitudes, opinions, and behaviors of customers.
A)True
B)False
Q4) What are paid media, owned media, and earned media? Give an example of each.
Page 15
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Chapter 14: Promotion Essentials: Legacy Approaches
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) The main difference between B2C and B2B markets is ________.
A) good interpersonal and communication skills are more important for B2C than for B2B.
B) B2B requires more supervision and performance evaluation than B2C.
C) services sold by B2B salespeople are more expensive and technically complex than those in B2C.
D) B2B requires more knowledge of the products being sold than B2C.
E) B2C requires the ability to discover customer needs and solve their problems more than B2B.
Q2) One of five principal goals for a sales presentation is to ________.
A) fulfill the customer's need for affiliation
B) enable evaluation of product alternatives
C) build impersonal relationships with customers
D) build product interest
E) agree on a price
Q3) Salespeople and the personal selling function are the most effective approach for establishing and enhancing the personal relationship between company and customer.
A)True
B)False
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Page 16