Principles of Marketing

A company that implements programs to encourage customer loyalty is utilizing what type of pricing objective? a. Maximizing profits b. Maximizing market share c. Maintaining the status quo d. Targeted return on investment

a. Maximizing profits

AT&T has attached their name to the baseball stadium for the San Francisco Giants. Which of the following marketing tools does this describe? a. Sponsorship b. Public relations c. Sales promotion d. Product placement

a. Sponsorship

Which of the following skills is most important to advance a career in global marketing? a. Creative writing and editing expertise b. Ability to speak two or more languages c. Schedule flexibility and interest in travel d. Exclusive experience in one geographic area

b. Ability to speak two or more languages

A company that makes home repair tools launches a line of tools cast in pastel colors. Which factor has this company considered most in order to reach a growing segment of their market? a. Product use b. Product benefit c. Consumer gender d. Product preference

c. Consumer gender

Which of the following is bringing offerings to the consumer in a way that optimizes value? a. Communicating b. Creating c. Delivering d. Exchanging

c. Delivering

Which marketing communication tactic acts out the company's message with flair? a. Artistic b. Creative c. Dramatization d. Humorous

c. Dramatization

Which of the following terms describes customers who are good at generating new product ideas or applications of products? a. Innovators b. Trendsetters c. First movers d. Alpha testers

d. Alpha testers

Which of the following addresses how an offering will be launched? a. Customer base b. Business climate c. Offering document d. Communication plan

d. Communication plan

Business-to-consumer marketers appeal to consumers as they work through the decision-making process. In which stage of this process do the promotional media assist the consumer in seeking information about products, services, and outlets? a. Need identification b. Offering outlet selection c. Social research and sharing d. Information search and processing

d. Information search and processing

One of your company's products is facing strong competition, and you are making important decisions about investments in the item. What stage of the product life cycle does this describe? a. Decline b. Growth c. Introductory d. Maturity

d. Maturity

What components are essential when developing a strategic plan? a. Selection, analysis, design b. Design, reflection, redesign c. Formation, execution, dissolution d. Mission statements, objectives, value propositions

d. Mission statements, objectives, value propositions

The social media analytics your department tracks includes "follows", "likes", "mentions" and "retweets". Which of the following social media marketing tools does this support? a. Enhance public relations b. Generate brand awareness c. Research and development d. Build a community of advocates

d. Build a community of advocates

Which of the following involves selling products through one or a very few outlets? a. Selective distribution b. Intensive distribution c. Extreme distribution d. Exclusive distribution

d. Exclusive distribution

Your products are sold only online. You have made many claims about the quality of your products, but online reviews have shown that consumers are not pleased with their purchases. While you have a generous return policy, you have counted on consumers accepting your product as-is and not taking the time to return the item. Which of the following ethical influences is described here? a. Dissonance b. Exploitation c. Paradigms d. Vulnerability

a. Dissonance

Which of the following research methods can provide your company with qualitative information about your marketing performance? a. Focus groups b. Website click-throughs c. Social media followers d. Direct response tracking

a. Focus groups

Which of the following influencer panel members is willing to try new products and suggest modifications? a. Lead user b. Loyal user c. Heavy user d. Interested user

a. Lead user

Which of the following elements of global marketing is where companies accommodate cultural expectations? a. Localization b. Market research c. Inbound marketing d. Outbound marketing

a. Localization

Which of the following statements about the marketing mix is true? a. The marketing mix elements each play a different role b. The marketing mix is developed prior to developing objectives c. The marketing mix is not dependent on other strategic activities d. The marketing mix is not impacted by the presence of competition

a. The marketing mix elements each play a different role

You have a robust online presence and give a good deal of attention to content marketing recognizing that page visits and click-throughs may not always translate to actual sales. Given this, what is the benefit of continuing in this way? a. You can refine your strategies b. You can determine return on investment c. You can evaluate accountable marketing d. You can compare your activities to that of your competition

a. You can refine your strategies

Which of the following is the most important advice regarding ethics in marketing? a. Don't monitor competitive programs or pricing. b. Show responsibility to by following business principles of fair competition. c. Phase out old products and warranty information to lessen customer confusion. d. Ensure privacy by keeping financial documents internal for management review.

b. Show responsibility to by following business principles of fair competition.

What is the role of positioning in a marketing campaign? a. It incorporates a competitor's message. b. It diverts attention from a product's flaws. c. It gives customers a reason to buy a product. d. It can override a customer's determined mindset.

NOT A

A smartphone lets the user enjoy 40,000 different songs of the user's choice. Which of the following offerings does this describe? a. Benefit b. Feature c. Product d. Service

a. Benefit

Channels of distribution have several functions. Which of the following describes transactional functions? a. Buying, selling, and risk assumption b. Post-purchase service and maintenance c. Financing and information dissemination d. Assembly, storage, sorting, and transportation

a. Buying, selling, and risk assumption

Which of the following is a marketing term for printed or digital marketing material? a. Advertising b. Collateral c. Media d. Promotions

b. Collateral

When designing a marketing plan, companies should start with which of the following? a. Research b. Customers c. Profit goals d. The supply chain

b. Customers

The use of targeted marketing would include which of the following tactics? a. Broad reach marketing b. Differentiated marketing c. Direct Response marketing d. Fast paced media messages

b. Differentiated marketing

What public issue might best benefit from a social marketing campaign? a. Promoting a company brand b. Educating children to wash their hands c. Expanding liquor sales to increase tax revenues d. Lengthening jail sentences for minor infractions

b. Educating children to wash their hands

Which of the following statements about conducting a competitive analysis is correct? a. Current competitors should be the sole element of an analysis b. Potential competitors should be the sole element of an analysis c. Analyses should be done on a regular basis for a small business d. Analyses only need to be conducted when there is a new entry in the marketplace

c. Analyses should be done on a regular basis for a small business

After the BP oil spill, the company addressed the public to counter the negative effects of the ensuing bad publicity. What is this known as? a. Press conference b. Media placement c. Crisis communication d. Cause-related marketing

c. Crisis communication

When a company realizes they are experiencing an increase or decrease in sales but cannot explain why, they might be in which stage of the marketing research process? a. Define the market b. Specify the sample c. Define the opportunity d. Design the data collection

c. Define the opportunity

Which of the following is a research method in which researchers interview, observe, and often video record people where they work, live, shop, and play? a. Case study b. Focus group c. Ethnography d. In-depth interview

c. Ethnography

Which of the following can provide an organization with feedback on their offerings for new products being introduced into the marketplace? a. Word-of-mouth b. Viral marketing c. Influencer panels d. Customer empowerment

c. Influencer panels

Which of the following is a strategy of selling a product in as many outlets as possible? a. Exclusive distribution b. Extreme distribution c. Intensive distribution d. Selective distribution

c. Intensive distribution

Which of the following stages of the product life cycle is the most expensive for a company? a. Decline b. Growth c. Introductory d. Maturity

c. Introductory

A firm that sets out to maintain its current prices and/or its competitors' prices is utilizing which type of pricing objective? a. Maximizing profits b. Maximizing market share c. Maintaining the status quo d. Targeted return on investment

c. Maintaining the status quo

Your company manufactures handbags, tote bags, and other accessories that are made from recycled boat sails. In developing a competitive analysis, which of the following strategic areas should is the first area you should consider as your primary factor of differentiation? a. Price b. Media c. Sustainability d. Customer service

c. Sustainability

Which of the following conditions may indicate that a potential competitor is entering your marketplace? a. Entering the market is costly b. The market is growing at a slow rate c. The industry sees high profit margins d. There are several competitors in your marketplace

c. The industry sees high profit margins

You manufacture fast-fashion clothing for the teenage demographic. This young group of consumers demands the latest styles at affordable prices. To get your products to market as quickly as possible, you have a large number of resources devoted to manufacturing, with numerous transportation channels ready to deliver the merchandise to your retail locations and meet consumer needs. Which of the following does this process describe? a. Sourcing b. Logistics c. Value chain d. Procurement

c. Value chain

While searching and applying for new jobs, you want to highlight the benefits you will bring to an organization. Which of the following should you create for yourself? a. Strategic plan b. Situation analysis c. Value proposition d. Mission statement

c. Value proposition

Which of the following questions does a value proposition answer? a. Who are our customers? b. What business are we in? c. Why should customers buy from us? d. Where does our business come from?

c. Why should customers buy from us?

The different types of marketing communications an organization uses comprise which of the following? a. Its publicity b. Its advertising c. Its personal set d. Its promotional mix

d. Its promotional mix

Which element of a marketing strategy enables a company to make the most of their strengths and match them to the needs of their customers? a. Execution b. Promotion c. Segmentation d. Targeting

d. Targeting

Which of the following types of products are more likely to have a shorter marketing channel? a. Perishable products b. Products that are of little value c. Products with a longer shelf life d. Products which are fairly unbreakable

a. Perishable products

When companies set their promotion budgets, which method uses the previous year's percent of sales? a. Simplest method b. Affordable method c. Promotional method d. Competitive parity method

a. Simplest method

A print ad for organic eggs shows a family eating breakfast, with the parent in the background preparing backpacks for their school-aged children. Which of the following cultural influences is being used to promote the product? a. Values b. Rituals c. Symbols d. Thought processes

b. Rituals

Which of the following is characterized as a small change in consumer demand that has a big effect throughout an offering's supply chain? a. Joint demand b. Spring demand c. Fluctuating Demand d. Determined Demand

c. Fluctuating Demand

Which of the following risks refers to the possibility that the company will fail to earn the appropriate return on the money and effort it puts into the new product? a. Financial risk b. Innovation risk c. Investment risk d. Opportunity risk

c. Investment risk

Which of the following channels would be most effective when your users need customized service? a. Specialized sales team b. Outside distributors and retailers c. Local dealer network or reseller program d. E-commerce website and fulfillment system

NOT A

Which of the following would be used to describe a value proposition? a. An internal analysis b. A mission statement c. The company's objectives d. A 30-second elevator pitch

NOT B NOT C

What demographic segments are especially useful to marketers? a. Age, income, gender b. Audience, lifestyle, access c. Profitability, reliability, predictability d. Location, transport method, travel time

a. Age, income, gender

What does the term "publics" mean as it relates to a marketing campaign? a. Anyone impacted by the marketing campaign b. Public concerns as opposed to private concerns c. Everyone except internal shareholders and stakeholders d. A specific geographic region in a targeted marketing program

a. Anyone impacted by the marketing campaign

You are responsible for responding to customer complaints submitted through social media. You find that when complaints are addressed based on social media posts, sales increase at high levels. Which of the following social media marketing tools does your position support? a. Enhance public relations b. Generate sales and leads c. Build a community of advocates d. Support research and development

a. Enhance public relations

Business-to-consumer marketers appeal to consumers as they work through the decision-making process. In which stage of this process does the consumer determine problem definition? a. Need identification b. Post-purchase behavior c. Social research and sharing d. Information search and processing

a. Need identification

You are launching several retail stores that will carry classic clothing and accessories for women between the ages of 34 to 55. You want the merchandise you sell to be made of high-quality materials, which will result in a high price point. Which of the following describes the process you will undertake to evaluate and hire the various businesses that will provide these goods to your stores? a. Sourcing b. Insourcing c. Procurement d. Supply chain

a. Sourcing

Which of the following are often used to describe a population of people by their region, city or town size, population density, and climate? a. Demographics b. Geographics c. Markets d. Psychographics

b. Geographics

In which stage of the product life cycle do companies tend to invest more money into their promotion activities. a. Decline b. Growth c. Introductory d. Maturity

b. Growth

In which of the following situations are direct-to-user channels from the producer to the ultimate user commonly used? a. Chain stores b. Industrial settings c. Supermarket sales d. Apparel and accessories

b. Industrial settings

A book company sets an expected profit of 15% in the first two years on all newly-published books in relation to the money invested in the author and publication. This is an example of what type of pricing objective? a. Maximizing profits b. Maximizing market share c. Maintaining the status quo d. Targeted return on investment

d. Targeted return on investment

Which of the following aspects of a family's life cycle might concern marketers? a. The geographical location of the family b. What the family purchases in any given year c. The comparative purchasing patterns of a single family member d. The stages of buying behavior the family goes through over many years

d. The stages of buying behavior the family goes through over many years

Your sandwich shop meets the needs of a niche market in a mixed cultural community. Your menu includes a wide variety of foods from many nations. Business is brisk, and you are pleased with the sales from your operations. You have no plans to open up another shop or have any online presence. Which of the following describes your business type? a. Supermarket b. Convenience store c. Multi-channel retailer d. Single channel retailer

NOT D OR B

Strategic planning best supports the marketing planning process through which of the following? a. Promotion and selling b. Logistics and distribution c. Employee development and security d. Budget planning and minimizing expenses

Not D

Your company is switching to less expensive production methods for one of your products. In what stage of the product life cycle is this item? a. Decline b. Growth c. Introductory d. Maturity

a. Decline

Which of the following is a document designed to communicate the marketing strategy for an offering? a. Market plan b. Annual report c. Research paper d. Mission statement

a. Market plan

A company that is trying to generate cash quickly to pay off debt would most likely utilize what type of pricing objective? a. Maximizing sales b. B2B pricing strategies c. Maximizing market share d. Targeted return on investment

a. Maximizing sales

Your company sells products from one brick-and-mortar location. You also have a website, a mobile app, and a printed catalogue. However, to ensure that you can meet customer needs and requirements, you make only one of these channels available at any given time. Which of the following marketing channel strategies does your company utilize? a. Multichannel b. Omnichannel c. Single channel d. Functional channel

a. Multichannel

Price is a signal of which of the following? a. Value b. Revenue c. The economy d. Market opportunity

a. Value

Companies understand that various customers impact sales in different ways. As a result, they recognize the implications of the 80/20 rule. Which of the following describes this rule? a. 80% of your customers provide 20% of your sales b. 80% of your sales come from 20% of your customers c. 80% of your customers are reached by 20% of your marketing d. 80% of your advertising budget goes toward 20% of your customers

b. 80% of your sales come from 20% of your customers

Which of the following is a banner on a website an example of? a. Publicity b. Advertising c. Promotions d. Public relations

b. Advertising

Which of the following is a paid announcement with an identified sponsor? a. Promotion b. Advertising c. Public Relations d. Product placement

b. Advertising

Which of the following social media marketing goals is supported by regularly posting online content to answer your customers' questions? a. Drive sales and leads b. Build brand awareness c. Build a community of advocates d. Support research and development

b. Build brand awareness

Your organization has recently made several improvements in the facility in which your products are manufactured. Solar panels have been installed on the room and over the parking lots. Light sensors are now in every room, and much of water used to produce your goods is recycled. Which of the following practice does this describe? a. Social responsibility b. Environmental sustainability c. Fair trade d. In-sourcing

b. Environmental sustainability

The amount of storage in a smartphone is considered to be which of the following offerings? a. Product b. Feature c. Benefit d. Service

b. Feature

What is the goal of a value proposition? a. Address the competition b. Focus on customer needs c. Focus on long-term strategy d. Craft one statement for all customers

b. Focus on customer needs

Which of the following is a distribution channel that is legal but not intended by the original producer? a. Flea market b. Gray market c. Black market d. Underground ring

b. Gray market

Which of the following is an effective way to to empower customers? a. Focus exclusively on positive customer feedback b. Have customers participate in product design surveys c. Send receipts via email after the purchase is complete d. Refer customers to an aggregator for price and quality comparisons

b. Have customers participate in product design surveys

Consumers have an effect on business-to-business (B2B) marketing strategies. What is it called when the consumer demand for one product leads to increased demand for another product? a. Spring demand b. Joint demand c. Fluctuating demand d. Determined Demand

b. Joint demand

Which of the following do many firms develop formal versions of to address who their target market and how to reach them? a. Marketing mix b. Marketing plan c. Marketing priority list d. Market vision statement

b. Marketing plan

When a company wants to present a positive spin on news stories, which of the following marketing tools do they use? a. Sponsorship b. Press Release c. In-store promotion d. Television commercial

b. Press Release

What kind of approach to business suggests that the best way to compete is through product innovation and production cost reduction? a. Market-oriented b. Product-oriented c. Selling-oriented d. Service-oriented

b. Product-oriented

An advertising campaign would most likely be addressed in which section of a marketing plan? a. Pricing b. Promotion c. Distribution d. Target Market

b. Promotion

Imagine for a moment that a company's sales are down. In response, the company develops an online customer survey to learn more about their customers' product and service needs. The company is experiencing which stage of the research process? a. Data collection b. Research design c. Sales forecasting d. Product planning

b. Research design

A leading candy company has initiated a campaign that includes online blogs, in-store sampling, and special events. Which of the following marketing activities do these efforts support? a. Public relations b. Word-of-mouth c. Viral marketing d. Influencer marketing

b. Word-of-mouth

Which of the following factors are used to describe a population of people by age, gender, and ethnicity? a. Geographic factors b. Behavioristic factors c. Demographic factors d. Psychographic factors

c. Demographic factors

In the idea screening stage, companies evaluate new offerings by determining which of the following? a. What the features of the product will be b. If the product works like it is supposed to c. If the product fits with the image and corporate strategy d. If the product costs more during idea generation than expected

c. If the product fits with the image and corporate strategy

The goal of your website is to convert prospects to customers and gather information so that you can begin to develop relationships with these consumers. Which of the following international online marketing strategies does this describe? a. Online research b. Market research c. Inbound marketing d. Outbound marketing

c. Inbound marketing

Which of the following terms describes when businesses use sales associates to inform the customer about an offering and encourage them to buy it? a. Publicity b. Public relations c. Personal selling d. Direct marketing

c. Personal selling

Which of the following promotional strategies provides convenience and encourages impulse purchases? a. Sampling b. Giveaways c. Point-of-sale d. Referral incentives

c. Point-of-sale

After the need is described and quantified, what is the next step in the B2B buying process? a. A need is recognized b. Proposals are evaluated c. Potential suppliers are sought d. An order routine is established

c. Potential suppliers are sought

Marketing effectiveness, in many industrial markets, requires a certain amount of which of the following? a. Price allowances b. Price discounts c. Price flexibility d. Price strategy

c. Price flexibility

Which of the following elements of a strategy marketing plan enables a company to connect with consumers in a way that meets organizational budgetary needs? a. Evaluation b. Positioning c. Promotion d. Market segmentation

c. Promotion

Which of the following processes enables a company to identify groups of customers by their needs? a. Evaluation b. Positioning c. Segmentation d. Targeting

c. Segmentation

An early television commercial for laundry detergent included a woman stressing over the dirt on her children's clothing and considering the different brands available to her to ensure that the laundry would be as clean as possible. Which of the following ethical issues was demonstrated in these kinds of ads? a. Dissonance b. Exploitation c. Stereotyping d. Subliminal messaging

c. Stereotyping

You have decided that your company will be using an outside agency to manage your shipping and ordering functions, partly because much of your business is conducted in international markets. Which of the following supply chain processes does this describe? a. Procurement b. Outsourcing c. Third party logistics d. Offshoring

c. Third party logistics

You are considering buying a new sweater. The sweater requires dry cleaning instead of hand or machine washing, which will extend the life of the sweater. Which of the following aspects of an offering does this consideration describe? a. Cost of product b. Product features c. Total cost of ownership d. Product dominant approach

c. Total cost of ownership

Your marketing campaign highlights consumers' personal preferences, and is distributed in countries that encourage individualism. Which of the following cultural influences does this describe? a. Thought processes b. Rituals c. Values d. Symbols

c. Values

Your company recently hosted a 5K race and encouraged all employees to participate. The company asked runners to solicit donations from their friends and family in support of cancer research. Which of the following marketing tools does this describe? a. Sponsorship b. Public relations c. Crisis communication d. Cause-related marketing

d. Cause-related marketing

Which of the following is the most comprehensive description of the American Marketing Association's definition of marketing? a. The use of SWOT analyses to assess business opportunities. b. Researching the competition and ensuring level product categories. c. Ensuring a profit-driven market focused specifically on sales promotion. d. Communicating, delivering, and creating offerings that have value to consumers.

d. Communicating, delivering, and creating offerings that have value to consumers.

Which of the following statements about integrated marketing communications (IMC) is true? a. IMC measures how receivers interpret messages. b. IMC measures how often people are exposed to a message. c. IMC measures the number of people exposed to a message. d. IMC provides an approach to deliver one consistent message.

d. IMC provides an approach to deliver one consistent message.

Business-to-consumer marketers appeal to consumers as they work through the decision-making process. In which stage of this process does the consumer compare potential products, services, and outlets with competing offerings? a. Information search b. Information processing c. Offering outlet selection d. Identification and evaluation of alternatives

d. Identification and evaluation of alternatives

A well-designed marketing plan primarily serves which of the following purposes? a. It satisfies marketing regulations. b. It is useful as a public relations tool. c. It announces the formation of a new enterprise. d. It defines a campaign's structure and assigns duties.

d. It defines a campaign's structure and assigns duties.

Business-to-consumer marketers appeal to consumers as they work through the decision-making process. In which stage of this process might the consumer be faced with making an alternative offering or outlet selection if their first choice of either is compromised? a. Need identification b. Information searching c. Post-purchase decision d. Offering outlet selection

d. Offering outlet selection

When performing a SWOT analysis, which are the most important issues to consider? a. Strategy and withholdings b. Financial reports and media markets c. Optimization and territory management d. Potential markets and competitor offerings

d. Potential markets and competitor offerings

Advertising, public relations, personal selling, and direct marketing are examples of which aspect of the marketing mix? a. Place b. Price c. Product d. Promotion

d. Promotion

Which of the following are used to describe a population of people by activities, interests, opinions, values, attitudes, and lifestyles? a. Behaviors b. Demographics c. Ethnographics d. Psychographics

d. Psychographics

Which of the following marketing metrics reflects the idea that marketing campaigns may have a range of goals? a. Bounce rates b. Return on investment c. Accountable marketing d. Return on marketing objective

d. Return on marketing objective

During what stage of the B2B buying process do buyers look online to find vendors, attend industry trade shows, and/or e-mail suppliers with whom they have relationships? a. Recognizing a need b. Evaluating proposals c. Establishing an order routine d. Searching for potential suppliers

d. Searching for potential suppliers

Your company rents bicycles, surfboards, and skateboards in a popular resort town. There is a nearby shop that sells equipment for repairing and refurbishing these items. Which of the following describes this kind of competition? a. Niche competition b. Current competition c. Primary competition d. Secondary competition

d. Secondary competition

Your company tracks competitive activity and engages with customers to be aware of any problems they might experience. Which of the following social media marketing goals does this describe? a. Drive sales and leads b. Build brand awareness c. Enhance public relations d. Support research and development

d. Support research and development

In conducting research for your upcoming television campaign, you have found that consumers in some nations are able to identify both primary and secondary elements of ads, while other consumers only focus on the main character. Which of the following cultural influences does this describe? a. Values b. Rituals c. Symbols d. Thought processes

d. Thought processes

Cigarette companies and fast food restaurants are frequently criticized for advertising to appeal to children. Which of the following ethical influences does this describe? a. Dissonance b. Exploitation c. Stereotyping d. Vulnerability

d. Vulnerability

Company researchers have decided to gather customer satisfaction data only from those customers who have made a purchase in the last 30 days. This choice represents which stage of the research process? a. Specify the sample b. Design the research c. Post purchase survey d. Define the opportunity

a. Specify the sample

n which of the following situations are direct-to-user channels from the producer to the ultimate user commonly used? a. Chain stores b. Industrial settings c. Supermarket sales d. Apparel and accessories

b. Industrial settings

A company trying to set prices in a way that allows them to capture a large share of the sales in their industry is utilizing which type of pricing objective? a. Maximizing profits b. Maximizing market share c. Maintaining the status quo d. Targeted return on investment

b. Maximizing market share

What "P" component below is commonly noted in a social media marketing plan? a. Profit b. Partnerships c. Perceived value d. Product placement

b. Partnerships