Principles of Marketing Solved Exam Questions
Course Introduction
Principles of Marketing introduces students to the fundamental concepts and strategies used by businesses to create, communicate, deliver, and exchange value with customers. The course covers core topics such as market research, consumer behavior, segmentation and targeting, product development, pricing strategies, distribution channels, and promotional tactics. Emphasizing real-world applications, students learn how marketing decisions impact organizations and society, and how evolving technologies and global trends shape the modern marketing landscape. Through case studies and practical projects, students gain foundational skills essential for further study and professional success in marketing and related fields.
Recommended Textbook
Marketing 17th International Edition by Hult and Ferrell
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3942 Verified Questions
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Chapter 1: An Overview of Strategic Marketing
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Sample Questions
Q1) A physical product you can touch is a(n)
A)service.
B)good.
C)idea.
D)concept.
E)philosophy.
Answer: B
Q2) The definition of marketing implies that ____ should receive benefits from exchange relationships.
A)only customers
B)only businesses
C)company management
D)both customers and businesses
E)only the most important customers
Answer: D
Q3) Services are provided by applying human and mechanical efforts to people or objects.
A)True
B)False
Answer: True
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Chapter 2: Planning Implementing and Evaluating Marketing Strategies
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Sample Questions
Q1) Corporate strategy determines the means for utilizing resources in the functional areas of business to reach the organization's goals.
A)True
B)False
Answer: True
Q2) Alex has been analyzing information from his company's database about customer purchasing habits, since he is responsible for the managing the growth of the industrial supply division of his company. Alex plans to use the information from his analysis to create new marketing strategies that will develop and sustain relationships with those customers who are more profitable for the company. What type of concept is Alex using?
A)Customer relationship management
B)Electronic data interchange
C)Business-to-consumer marketing
D)Strategic partnerships
E)The marketing concept
Answer: A
Q3) Compare and contrast corporate strategy and marketing strategy.
Answer: Answer not provided.
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Chapter 3: The Marketing Environment
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Sample Questions
Q1) An oligopoly exists when a firm offers a product that has no close substitutes, making the firm the sole source of supply.
A)True
B)False
Answer: False
Q2) Numerous self-regulatory programs have been created to stop or stall the development of laws and government regulatory groups that would regulate marketing practices.
A)True
B)False Answer: True
Q3) Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of economic
A)recovery.
B)prosperity.
C)recession.
D)uncertainty.
E)expansion.
Answer: C
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Page 5
Chapter 4: Social Responsibility and Ethics in Marketing
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Sample Questions
Q1) Refer to Scenario 4.1. Hershey and its employees benefit in many ways from its strong ethics compliance program. Which of the following is not one of the benefits of such a program?
A)Enforcement and discipline of ethical infractions
B)Better employee understanding of ethical issues
C)Free-flowing communication within the firm regarding ethical issues
D)Costly programs to develop and maintain
E)High level of organizational guidance for employees
Q2) The most basic principles of marketing ethics are
A)philanthropic responsibilities.
B)economic responsibilities.
C)universally accepted behaviors.
D)written as laws and regulations.
E)included in the marketing code of ethics.
Q3) Marketing ethics relates to individual and group evaluations about what is right or wrong in a particular marketing decision-making situation; social responsibility deals with the total impact of marketing decisions on society.
A)True
B)False
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Page 6
Chapter 5: Marketing Research and Information Systems
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190 Flashcards
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Sample Questions
Q1) Having recording biases and collecting only descriptive information are two of the primary drawbacks to A)statistical interpretation.
B)mail surveys.
C)observation.
D)personal interviews.
E)experimentation.
Q2) If Procter & Gamble, the maker of Dawn dishwashing liquid, wants to know what percentage of customers examine product labels before making a product selection in the grocery store, it can best gain this information through A)focus groups.
B)mail surveys.
C)personal interviews.
D)observation.
E)mall intercepts.
Q3) Experimental research is used to make tentative hypotheses more specific. A)True
B)False
Q4) How does marketing research differ when conducted in other countries?
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Chapter 6: Target Markets: Segmentation and Evaluation
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Sample Questions
Q1) Meghan would like to open a house cleaning business and is considering several market segments. She has identified four segments for consideration; young, urban singles, young married professionals, senior citizens, and college students. She has just completed an analysis of these four segments by assessing such factors as sales estimates, competition, and estimated costs. Meghan is now ready for the next step in the target market selection process, which is to A)identify the appropriate targeting strategy.
B)determine which segmentation variables to use.
C)develop market segment profiles.
D)evaluate relevant market segments.
E)select specific target markets.
Q2) Family life cycle is a psychological dimension used for segmenting markets.
A)True
B)False
Q3) Consideration of the firm's overall objectives usually does not influence the final selection of a target market segment.
A)True
B)False
Q4) When evaluating market segments, which three major issues should be considered?
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Chapter 7: Consumer Buying Behavior
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Sample Questions
Q1) Evan has just been hired as a product manager for a major technology firm. Currently, he is making purchases for his new apartment and upcoming job. His purchase of _____ would most likely be done through extended response behavior, while his purchase of ____ would be purchased through limited problem solving behavior.
A)a new suit; a sofa
B)a toaster; bed sheets
C)coffee maker; flat screen TV
D)flat screen TV; bath towels
E)coffee maker; groceries
Q2) Shortly after moving into their new home, Mark and Katherine Gould purchase and install smoke detectors and an alarm system. The Goulds are concerned about fulfilling their need for
A)survival.
B)safety.
C)self-actualization.
D)esteem.
E)belonging.
Q3) Discuss how perceptual processes may influence the consumer buying decision process.
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Chapter 8: Business Markets and Buying Behavior
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Sample Questions
Q1) All three NAFTA countries will convert to the NAICS over the next few years.
A)True
B)False
Q2) Which of the following products is most likely to be purchased on the basis of contract negotiation?
A)Eggs
B)Office supplies
C)Used cars
D)A custom-made bulldozer
E)Wheat
Q3) Business markets are typically divided into four categories. These categories are
A)retailers, wholesalers, services, and nonprofit firms.
B)producer, manufacturer, reseller, and government.
C)producer, reseller, government, and institutional.
D)manufacturer, wholesaler, retailer, and services.
E)reseller, retailer, government, and institutional.
Q4) The term business markets refers only to producer markets.
A)True
B)False
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Chapter 9: Reaching Global Markets
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Sample Questions
Q1) Special interest groups and regulatory bodies are ____ forces that must be taken into account in international marketing.
A)socioeconomic
B)technological
C)economic
D)social and ethical
E)political and legal
Q2) Customs and taboos are culture-bound and should be taken into consideration when products are marketed in a foreign environment.
A)True
B)False
Q3) A subsidiary in a foreign country generally operates under
A)the laws of the parent company's home country.
B)foreign management in order to develop a local identity.
C)strict management control from the home country's executives.
D)the regulations set forth by the International Trade Agreement.
E)a team of managers from the distant parent company.
Q4) Explain why the mode of entry into an international market is a major issue for managers to consider.
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Chapter 10: Digital Marketing and Social Networking
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Sample Questions
Q1) IHOP is active on Facebook, Twitter, and YouTube in order to communicate with its customers, conduct a video contest, and generally find out the customers' likes and dislikes. IHOP in this example, is engaging in ____ marketing.
A)distance
B)relationship
C)multiple-phase
D)experiential
E)community
Q2) Accessibility refers to a customer's ability to access information about products, such as colors, prices, and reviews.
A)True
B)False
Q3) Attempts to deceive consumers into releasing personal information online is referred to as online fraud.
A)True
B)False
Q4) How have digital media and social networking changed the consumer's buying behavior?
Q5) In what ways can digital media be used as a market research tool?
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Chapter 11: Product Concepts
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Sample Questions
Q1) A(n) ____ is a concept, philosophy, or image.
A)product
B)good
C)idea
D)service
E)issue
Q2) Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.
A)shopping
B)specialty
C)service
D)convenience
E)unsought
Q3) A business can justify keeping a product as long as it contributes to profits or enhances the effectiveness of a product mix.
A)True
B)False
Q4) Describe and illustrate the four major categories of consumer products.
Q5) What steps can be taken to reduce the risk of product failure?
Page 13
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Chapter 12: Developing and Managing Products
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Sample Questions
Q1) Outback Steakhouse wants to expand its line of food products. The managers sent surveys to customers to determine which food items would appeal to them. Outback is currently in the ____ phase of new-product development.
A)business analysis
B)product development
C)test marketing
D)screening
E)idea generation
Q2) After a company has created a prototype during the product development stage, its performance, or ____ must be tested.
A)appeal to customers
B)dependability
C)durability
D)functionality
E)pricing
Q3) Concept testing presents a small sample of potential buyers with a trial version of the new product to determine their initial reactions.
A)True
B)False
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Page 14
Chapter 13: Services Marketing
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Sample Questions
Q1) Most products possess a certain degree of intangibility.
A)True
B)False
Q2) Dentists find it difficult to attract customers because many customers cannot distinguish whether or not the product offered is beneficial. This aspect of the dentist's product is called ____ quality.
A)search
B)experience
C)credence
D)tangible
E)separable
Q3) Describe how nonprofit marketing differs from for-profit marketing.
Q4) The main characteristic of a ____ is that customers are satisfied to the point that they use a service repeatedly over a period of time.
A)service relationship
B)professional marketer
C)high-contact service
D)heterogeneous service
E)client-based relationship
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Chapter 14: Branding and Packaging
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Sample Questions
Q1) Private distributor brands are owned by
A)manufacturers only.
B)manufacturers and retailers.
C)wholesalers only.
D)manufacturers and wholesalers.
E)wholesalers or retailers.
Q2) Labeling is used to perform only two roles: to promote and to inform.
A)True
B)False
Q3) When Disney characters appear on apparel made by another company, this would be an example of
A)brand licensing.
B)brand extensions.
C)dual-branding.
D)co-branding.
E)cooperative branding.
Q4) Labeling is most important for branding reasons.
A)True
B)False
Q5) Explain the differences between brand marks and trademarks.
Page 16
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Chapter 15: Marketing Channels and Supply Chain Management
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Sample Questions
Q1) A channel of distribution is defined as a group of individuals and organizations that A)consumes about one-half of every dollar spent on products in the United States.
B)directs the flow of products from producers to customers.
C)links producers to other marketing intermediaries.
D)takes title to products and resells them.
E)manages transportation and warehousing functions.
Q2) Aaron attends a seminar on just-in-time inventory management. Excited about the idea, he returns to his office at Atlanta Auto Supply to start designing such an inventory system. Which of the following steps must Aaron take as he institutes this change?
A)Increase safety stock
B)Raise the reorder point
C)Reduce customer service standard
D)Increase order frequency
E)Reduce estimates of inventory turnover rate
Q3) Explain how electronic data interchange (EDI) and just-in-time (JIT) inventory management might be used in combination to improve physical distribution effectiveness and efficiency.
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Page 17
Chapter 16: Retailing, Direct Marketing, and Wholesaling
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Sample Questions
Q1) What is a potential disadvantage of direct selling?
A)Commissions for salespeople are usually low.
B)Some customers view direct selling negatively.
C)Personal attention tends to be lacking.
D)Product demonstrations are difficult in this type of selling.
E)Consumers must go out of their way.
Q2) Kevin is talking with Peter about purchasing a Wendy's franchise. Peter tells Kevin that one of the major advantages of franchising for him to consider is the A)higher start-up costs.
B)greater freedom it provides.
C)individuality it offers.
D)higher success rate for franchises.
E)gross margin it provides.
Q3) A large retailer selling food and most routinely purchased consumer products is a A)hypermarket.
B)supermarket.
C)discount store.
D)Warehouse club
E)Superstore
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Page 18
Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Does promotion cost too much relative to the benefits that it provides to customers?
Q2) In one corner of its magazine advertisement for office copiers, Lexmark places a small box asking for the names and addresses of individuals or companies seeking more information. Lexmark has included this box to facilitate ____ for this communication.
A)decoding
B)feedback
C)encoding
D)perceptual attention
E)noise reduction
Q3) Kinesic communication is an element in which type of promotional method?
A)Advertising
B)Public relations
C)Personal selling
D)Packaging
E)Sales promotion
Q4) Communication is a sharing of meaning.
A)True
B)False
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Chapter 18: Advertising and Public Relations
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Sample Questions
Q1) The two major types of product advertising are
A)institutional and advocacy.
B)pioneer and competitive.
C)competitive and comparative.
D)advocacy and competitive.
E)informative and comparative.
Q2) Tropicana orange juice has a television commercial where a young boy is drinking orange juice at dinner. He remarks that he likes the great taste of Tropicana anytime. The element of the commercial that focuses on drinking orange juice at dinner would be best classified as ________, while the focus on the great taste of Tropicana would be best classified as ___.
A)comparative advertising; informative advertising
B)pioneer advertising; competitive advertising
C)institutional advertising; stimulating primary demand
D)product advertising; institutional
E)comparative advertising; competitive advertising
Q3) What are the advantages of using an advertising agency to develop an advertising campaign?
Q4) What are the important issues to consider when developing advertising objectives?
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Chapter 19: Personal Selling and Sales Promotion
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Sample Questions
Q1) Hannah is a retail salesperson for Crate and Barrel in Chicago. She is most likely classified as
A)an order getter.
B)support personnel.
C)trade salespeople.
D)an inside order taker.
E)a field order taker.
Q2) Sporadic recruiting is more desirable than continuous recruiting because of the expense involved in the process.
A)True
B)False
Q3) Generally, sales promotion attempts to influence consumers to purchase products but is not normally aimed at resellers.
A)True
B)False
Q4) Team selling involves building mutually beneficial long-term associations with a customer through regular communications over prolonged periods of time.
A)True
B)False
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Chapter 20: Pricing Concepts
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Sample Questions
Q1) Which of the following prohibits price discrimination that lessens competition among wholesalers and retailers?
A)Sherman Antitrust Act
B)Robinson-Patman Act
C)Lanham Trademark Act
D)Federal Trade Commission Act
E)Wheeler-Lea Act
Q2) Ryan orders 16 dozen fishing lures from Strike Right for $375. When he gets the invoice, he is furious that $25 in freight charges has been tacked onto his bill because he thought the price included freight costs. Ryan should have been certain that the order terms were
A)F.O.B.origin.
B)F.O.B.factory.
C)C.O.D.
D)2/10, n/30.
E)F.O.B.destination.
Q3) In setting price, it is wise to analyze competitors' prices.
A)True
B)False
Q4) Identify and describe the major factors that affect pricing decisions.
Page 22
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Chapter 21: Setting Prices
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Sample
Questions
Q1) What type of pricing strategy is used in a situation where demand for a product is price inelastic and the seller has an ethical responsibility not to overcharge the client?
A)Price lining
B)Prestige pricing
C)Professional pricing
D)Customary pricing
E)Price skimming
Q2) Odd-even pricing is
A)a cost-based strategy.
B)competition-based.
C)a rarely used technique.
D)a psychological pricing strategy.
E)a form of unethical pricing.
Q3) The objective of profit maximization is rarely operational because its achievement is difficult to measure.
A)True
B)False
Q4) Describe, compare, and contrast the three major bases for setting prices.
Q5) Identify and describe six types of psychological pricing.
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