Introduction to Marketing Exam Questions and Answers

Multiple choice: Select the best answer. (1 point each) 1. Which element of the marketing mix includes the distribution of products? a. b. c. d. Product Price Place Promotion 2. To be ethically effective, marketing plans must be a. b. c. d. honest and truthful flexible enough to contain differences of opinion varied according to management responsibility level substantially different from compliance requirements 3. A(n) __________is a document that communicates a marketing strategy for an offering. a. b. c. d. research paper market plan mission statement annual report 4. In a SWOT analysis, SWOT stands for a. b. c. d. strategies, weaknesses, obligations, threats strengths, weaknesses, opportunities, threats strengths, work requirements, opportunities, time strategies, worth, obligations, time 5. Raw data transforms to information when a. b. c. d. it is calculated a manager is aware that it exists it becomes useful a manager looks at it 6. Which of the following is true about participating in professional networking websites? a. b. c. d. They are frequently used by employers and recruiters. They are less helpful for mid- and late career professionals. They are more frequently used by experienced workers. They are most helpful to people who are currently employed. 7. _________________ are especially useful to marketers. a. b. c. d. Age, income, gender Location, locomotion, liberation Profitability, reliability, predictability Proactivity, reactivity, alacrity 8. What term is used to describe when a customer purchases a product with no planning or forethought? a. b. c. d. Extended problem solving Impulse buying High-involvement purchasing Evaluation implementation 9. What type of segmentation is the primary starting point for most marketers? a. b. c. d. Psychographic Use-pattern Demographic Cultural 10. In the business-to-business buying process, what is the next step after the need is described and quantified? a. b. c. d. Searching for potential suppliers Evaluating proposals Establishing an order routine Recognizing a need 11. Which of the following is a skill that could advance career goals in global marketing? a. b. c. d. Ability to speak two or more languages Experience in a single geographical area Computer literacy Having a foreign driver’s license 12. When a product is sold in as many outlets as possible a(n) ___________ distribution strategy is being used. a. b. c. d. selective intensive extreme exclusive 13. What is a useful way to empower customers? a. b. c. d. Ask customers to participate in product design. Conduct customer feasibility studies. Refer customers to competitors for quality comparisons. Give customers free products. 14. Which of the following is a key function of “positioning” in marketing campaigns? a. b. c. d. To provide a reason why the customer should buy the product. To divert the customer's attention from the product’s flaws. To override the customer’s previous mindset. To distract the customer from considering a competitor’s product. 15. A(n) ____________ explains how an offering will be launched. a. b. c. d. offering transaction business document customer base communication plan 16. _________ is defined as the variety of marketing communications an organization utilizes. a. b. c. d. Promotional mix Personal selling Advertising Publicity 17. Which of the following are social media? a. b. c. d. Corporate investor pages Media release distribution websites Downloadable company brochures Public networking websites 18. What is the generally accepted view about using sex and humor themes in cross-cultural marketing campaigns? a. b. c. d. Humor and sex themes are acceptable. Humor and sex themes are encouraged. Humor and sex themes can be used if they are very mild. Humor and sex themes are not appropriate. 19. The channel through which communication takes place is known as the a. b. c. d. information medium communication transference Short answer questions: Answer in two to four complete sentences. (2 points each) 20. Determine an advantage for using a product life cycle mode. 21. Provide an advantage for using segmentation, targeting, and positioning in developing marketing strategies. 22. Provide one benefit and one drawback of using a viral market channel. Essay questions: Answer in six to eight complete sentences. (5 points each) 23. Describe major differences between strategic and tactical planning. 24. Define micromarketing and discuss its importance in integrated marketing communications programs. ANSWERS TO SAMPLE QUESTIONS Multiple-choice questions 1. 2. 3. 4. 5. 6. 7. ( ( ( ( ( ( ( c a b b c a a ) ) ) ) ) ) ) 8. 9. 10. 11. 12. 13. 14. ( ( ( ( ( ( ( b c a a b a a ) ) ) ) ) ) ) 15. 16. 17. 18. 19. ( ( ( ( ( d a d d b ) ) ) ) ) Short answer questions 20. Using a product life cycle to manage the activities of a product or service allows a company to map out a long-term strategy for more effective planning. Companies can plan for the evolution of price, product features, promotion and placement in a way that is seamless and continuous for both the customer, as well as the firm’s operations. Scoring Rubric Score Meets Expectations (2 pts) Partially Meets Expectations Response Features ● Fully explains the benefits for using a product life cycle model ● Uses complete sentences with correct spelling and grammar ● Errors do not impact readability ● Partially explains the benefits for using a product life cycle model ● Uses complete sentences with some minor errors in spelling and grammar ● Errors do not impact readability ● Does not explain the benefits for using a product life cycle model ● Uses incomplete sentences with some significant errors in spelling and grammar ● Errors impact readability (1 pt) Needs Improvement (0 pts) 21. Targeting, marketing and positioning provide opportunities to reach a specific market and identify the characteristics of the market. Additionally, positioning can cater to a particular market rather than an entire universe. For instance, products such as Tesla, Porsche and Maserati are positioned to a different market than Ford, Chevy and Buick. This allows a market to develop and deliver personalized messages to different audiences rather than focusing on one message to everybody. Scoring Rubric Score Response Features ● Fully identifies and explains an advantage for using one of the following in developing marketing strategies: targeting, marketing and positioning ● Uses complete sentences with correct spelling and grammar ● Errors do not impact readability ● Partially identifies and explains an advantage for using one of the following in developing marketing strategies: targeting, marketing and positioning ● Uses complete sentences with some minor errors in spelling and grammar ● Errors do not impact readability ● Does not identify or explain an advantage for using one of the following in developing marketing strategies: targeting, marketing and positioning ● Uses incomplete sentences with some significant errors in spelling and grammar ● Errors impact readability Meets Expectations (2 pts) Partially Meets Expectations (1 pt) Needs Improvement (0 pts) 22. Viral marketing is an advertisement tied to e-mail or another online communication designed to have one person pass on the content to another. Major benefits of such marketing are speed of transmission and the ability of consumers to share with like-minded friends; drawbacks include changes in the marketing message as it is passed from one person to another and the loss of control for the instigating firm as the messaging has the potential to change significantly from its original intent. Scoring Rubric Score Response Features Meets Expectations (2 pts) Partially Meets Expectations ● Fully provides a benefit and drawback of viral marketing ● Uses complete sentences with correct spelling and grammar ● Errors do not impact readability ● Partially provides a benefit and drawback of viral marketing ● Uses complete sentences with some minor errors in spelling and grammar ● Errors do not impact readability ● Does not provide a benefit and drawback of viral marketing ● Uses incomplete sentences with some significant errors in spelling and grammar ● Errors impact readability (1 pt) Needs Improvement (0 pts) Essay questions 23. All companies plan both strategically as well as tactically. There are four major differences between strategy and tactics in organizational planning: context, scale, rationale and time frame. In terms of context, strategic planning is largely concerned with overall plan design, while tactics addresses implementation of a plan in practical terms. In the area of scale, strategic planning typically is concerned with a large framework that would affect the organization as whole, while tactics are smaller in scale and more specific in their focus, usually at the department or division level. Strategy explains why an action will take place and its necessity; tactics explain how the end result will be achieved step-by-step. This difference is fundamental to their rationale. Finally, strategy takes place over a long time frame and often it continues for years. Yet, tactics are put into place much more quickly, and are monitored more frequently, often on a daily basis. Scoring Rubric Identifies the two planning approaches: strategic planning, tactical planning Appropriately identifies key planning elements: context, scale, rationale, time frame Appropriately discusses the differences between the two planning approaches 24. Micromarketing, often called niche marketing, is a marketing strategy that concentrates on a specific customer characteristic in order to achieve a high degree of targeting focus. This characteristic can be demographic or psychographic. Integrated marketing communications seeks to coordinate marketing efforts across a number of media. This coordination is built on customer commonalities as determined via research methods. In terms of demographics, these commonalities could be geographic location, income bracket, age or education; psychographic categories can be based on lifestyles, such as those categorized in the VALS research methodology. Micromarketing segments are customer building blocks built on such specific commonalities and as such are key components of integrated marketing communications campaigns. The more precise marketing communications can be, i.e., driven by micromarketing, the more effective. Scoring Rubric Correctly defines micromarketing and targeting focus, use of demographics/psychographics Correctly describes IMC and gives specific examples utilizing precision targeting Explains the importance of micromarketing to IMC: targeting, ability to aggregate consumers