Retail and Service Marketing
Mock Exam
Course Introduction
Retail and Service Marketing explores the unique challenges and opportunities encountered in the retail and service sectors, focusing on the development of effective marketing strategies to attract and retain customers. The course covers key topics such as consumer behavior in retail and service contexts, retail mix strategy, service quality management, customer relationship management, and the impact of technological advancements on these industries. Students will analyze trends in e-commerce, omnichannel retailing, and service innovation, while examining case studies and industry best practices. By the end of the course, students will be equipped with the skills to create compelling marketing plans tailored to the dynamic retail and service environments.
Recommended Textbook
Principles of Marketing 7th AUSTRALIAN Edition by Gary Armstrong
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Chapter 1: Marketing: Creating and Capturing Customer Value
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142 Flashcards
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Sample Questions
Q1) When the economy tightens,customer loyalty and customer retention become ________ for marketers.
A)more important
B)less important
C)impossible
D)long-term but not short-term goals
E)short-term but not long-term goals
Answer: A
Q2) The ________ concept holds that consumers will favour products that are available and highly affordable.
Answer: production
Q3) A highly profitable,short-term customer is a ________.
A)true friend
B)butterfly
C)stranger
D)barnacle
E)true believer
Answer: B
Q4) ________ are human wants backed by buying power.
Answer: Demands
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Chapter 2: Company and Marketing Strategy: Partnering to
Build Customer Engagement, value and Relationships
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Sample Questions
Q1) Which of the following is NOT a market-oriented business definition?
A)'To provide a global trading platform where practically anyone can trade practically anything'.
B)'To sell tools and home repair and improvement items'.
C)'To deliver low prices every day'.
D)'To be the guardian of our customers' financial dreams'.
E)'To bring inspiration and innovation to every athlete in the world'.
Answer: B
Q2) Sass and Bide,according to the text,could use the product / market expansion grid to develop strategies.The owners of the company would most likely find the grid to be quite useful for identifying ________.
A)target markets
B)growth opportunities
C)key customers
D)new products
E)suppliers
Answer: B
Q3) ________ indicate how the marketing plan will be monitored.
Answer: Controls
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Chapter 3: The Marketplace and Customers: Analysing the Environment
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Sample Questions
Q1) Cause-related marketing is a slowing trend as companies have abused the practice,using it more to increase sales and gain tax deductions than to support worthwhile causes.
A)True
B)False
Answer: False
Q2) ________ beliefs and values are passed on from parents to children and are reinforced by schools churches,business and government.
Answer: Core
Q3) Some experts warn against extensive use of ________ marketing since each generation spans decades of time and many socioeconomic levels.
Answer: generational
Q4) Over ________ of the Australian population has attended university.
A)60 per cent
B)50 per cent
C)40 per cent
D)30 per cent
E)20 per cent
Answer: C
Page 5
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Chapter 4: Marketing Analytics: Gaining Customer Insights
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Sample Questions
Q1) Open-ended survey questions are particularly useful in exploratory research.
A)True
B)False
Q2) Transforming today's vast,ever-increasing volume of consumer information into actionable marketing ________ is the number-one challenge for digital-age marketers.
Q3) Ideally,a sample should be representative so that the researcher can make accurate estimates of the thoughts and behaviours of the larger population.
A)True
B)False
Q4) A company wants to collect research data through mechanical instruments.The three typical methods are video cameras,checkout scanners and internet surveys.
A)True
B)False
Q5) Briefly compare the three different types of research approaches for gathering primary data.
Q6) The misuse of marketing research can harm or annoy consumers.
A)True
B)False
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Chapter 5: Buyer Behaviour: Understanding Consumer and Business Buyers
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Sample Questions
Q1) People with similar ethnic backgrounds often have shared________ systems.
Q2) Marketers must be careful when tapping into online networks as results are
A)measurable
B)contradictory
C)Difficult to measure and control
D)often negative
E)often surprising
Q3) After purchasing the product,the consumer will be satisfied or dissatisfied and will engage in post-purchase behaviour.
A)True
B)False
Q4) ________ is (are)the most basic cause(s)of a person's wants and behaviour.
A)Culture
B)Brand personality
C)Cognitive dissonance
D)Social factors
E)Selective perception
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Q5) Explain why selective attention is not controllable by a marketer.
Q6) Compare the decision process in the business market and consumer markets.
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Page 8
Chapter 6: Customer-Driven Marketing Strategy: Creating
Value for Target Customers
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Sample Questions
Q1) LaGrange Florists segments markets into groups of nonusers,ex-users,potential users,first-time users and regular users of its flowers and services.This firm uses usage rate as the segmentation approach.
A)True
B)False
Q2) You have just created the 'perfect' ad.It communicates the full mix of benefits upon which the brand is differentiated and positioned.This full positioning of the brand is called ________.
A)its value proposition
B)target marketing
C)capturing the consumers' attention
D)value profiling
E)differentiated marketing
Q3) When might be the best time for a marketer to use geographic segmentation?
Q4) A market rarely exists for products that offer less and therefore cost less.
A)True
B)False
Q5) To encourage responsible advertising,the Australian Association of National Advertisers (AANA)publishes a ________.
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Chapter 7: Products, services and Brands: Offering
Customer Value
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Sample Questions
Q1) The factor of ________ indicates that services lack a physical element.
Q2) ________ has been affected by the need to include unit pricing,open dating and nutritional information.
A)Branding
B)Packaging
C)Labelling
D)Product line filling
E)Product mixing
Q3) ________ occurs when two established brand names of different companies are used on the same product.
A)A brand extension
B)Brand equity
C)Co-branding
D)Internal marketing
E)Cannibalisation
Q4) A(n)________ product is one that the customer usually buys frequently,immediately and with the minimum of comparison and buying effort.
Q5) Who will win 'the battle of the brands' between manufacturers' brands and private label brands? Support your position.
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Chapter 8: New Products: Developing and Managing Innovation
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Sample Questions
Q1) A ________ is the way consumers perceive an actual or potential product.
A)product idea
B)product concept
C)product image
D)test market
E)concept test
Q2) Which of the following is the most likely reason that employees at your firm regularly attend trade shows and seminars?
A)to analyse the product life-cycle
B)to test new-product concepts
C)to obtain new-product ideas
D)to test market new products
E)to implement a team-based new-product development approach
Q3) During the product ________ stage of the product life-cycle,sales are zero and a company's investment costs add up.
Q4) The ________ stage of the product life-cycle is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers.
Q5) Distinguish between a product idea,a product concept and a product image.
Page 11
Q6) A product ________ is the way consumers perceive an actual or potential product.
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Chapter 9: Pricing: Capturing Customer Value
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Sample Questions
Q1) Companies bringing out a new product can choose between two broad strategies: market-skimming pricing and market-penetration pricing.It is important to select the optimal approach because there's no going back once prices have been established.Discuss the market and environmental indications suitable for each approach.
Q2) Overhead cost is another term for variable cost.
A)True
B)False
Q3) Market-________ pricing involves setting a high price for a new product in order to create fewer but more profitable sales.
Q4) In Lima,Peru,20 stores specialising in selling the same quality and brand of wheat products are located on one street.An individual seller cannot charge more than the going price without the risk of losing business to the other stores.This is an example of what type of market?
A)pure competition
B)monopolistic competition
C)oligopolistic competition
D)pure monopoly
E)socialist
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Chapter 10: Placement: Customer Value Fulfilment
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Sample Questions
Q1) In a direct marketing channel,which has no intermediary levels,the company sells directly to consumers.
A)True
B)False
Q2) Which of the following represents the seamless cross-channel buying experience that integrated in-store,online and mobile shopping?
A)Selective distribution
B)Channel design
C)Customer value delivery network
D)Omni-channel
E)Intensive distribution
Q3) A channel consisting of one or more independent producers,wholesalers or retailers each seeking to maximise its own profits even at the expense of profits for the channel as a whole is a(n)________.
A)vertical marketing system
B)conventional marketing channel
C)independent channel allocation
D)corporate VMS
E)administered vertical marketing system
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Page 14
Chapter 11: Communicating Customer Value: Advertising and Public Relations
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Sample Questions
Q1) One way to measure the ________ effects of advertising is to compare past sales with past advertising expenditures.
A)sales and profit
B)promotion and cost
C)communication
D)loyalty
E)interest and return
Q2) In their efforts to find less costly and more targeted ways to reach consumers,advertiser have discovered a collection of _____.
Q3) When Proctor & Gamble developed the Mr.Clean Magic Eraser,the company needed to explain how the product cleans grime from walls without removing paint.What type of campaign was most likely used by Proctor & Gamble for the Mr.Clean Magic Eraser to introduce the new product to the market?
A)informative advertising
B)persuasive advertising
C)reminder advertising
D)developmental advertising
E)comparative advertising
Q4) Advertising is moving away from ________ and towards ________.
Page 15
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Chapter 12: Personal Selling and Sales Promotion: Creating
Value in Relationships
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Sample Questions
Q1) Explain how the creation of an inside salesforce helps a company that was losing major accounts because its outside salesforce had to spend so much time dealing with smaller accounts and following up orders.
Q2) According to the textbook,typical salespeople spend around ________ per cent of their time engaged in active face-to-face selling.
A)10
B)20
C)25
D)30
E)80
Q3) A(n)________ is a salesperson's write-up of his or her completed sales activity.
A)expense report
B)call report
C)sales report
D)sales quota
E)time-and-duty analysis
Q4) A ________ promotion is an incentive applied to the retail trade to stock more of a product or to provide increased merchandising space,usually during a consumer promotion.
16
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Chapter 13: Direct and Digital Marketing: Interactivity and Fulfilment
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Sample Questions
Q1) Companies can benefit from monitoring the blogosphere even if they decide not to actively participate in sponsoring,influencing or creating content.
A)True
B)False
Q2) What are the two goals of 'direct and digital marketing'?
A)to identify a potential customer and obtain an immediate response
B)to obtain an immediate response and to facilitate a purchase
C)to obtain an immediate response and build a lasting customer relationship
D)to provide information and build a lasting customer relationship
E)to save marketing dollars and facilitate a purchase
Q3) When a text link occurs within an online article on a given topic and the marketer pays a fee each time a user clicks on that link,this is known as ________.
A)paid inclusion
B)contextual search
C)paid listings
D)site optimisation
E)meta-tagging
Q4) Outline the major benefits of direct marketing for both customers and sellers.
Q5) Viral marketing is also known as ________ marketing.
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Chapter 14: Sustainable Marketing: Social Responsibility, ethics and Legal Compliance
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Sample Questions
Q1) A common criticism aimed at consumer advertising is that it makes you buy things you don't need.
A)True
B)False
Q2) Maytag's front-loading Neptune washer provides superior cleaning and energy efficiency.The Neptune washer is an example of a ________ product.
A)deficient
B)pleasing
C)salutary
D)desirable
E)satisfying
Q3) Importantly,________ compliance is not a once-off affair.
Q4) Marketers are entitled to use the image or likeness of celebrities in their advertising and promotional campaigns without gaining permission because these personalities already have their images in the public domain.
A)True
B)False
Q5) Briefly outline the four 'societal classification of products' and provide an example of each.
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