Title: Marketing
Course: Demo 1

Q: Marketing is best defined as the activities, organizations, and processes for ________.
- designing, building, delivering and supporting a product or service
- advertising, building awareness of and promoting an object of value for customers
- creating, communicating, delivering, and exchanging offerings customers value
A: creating, communicating, delivering, and exchanging offerings customers value

Q: What singular focus is at the center of everything marketing does?
- promotion: the advancement of a product or idea through publicity and/or advertising
- profit: the financial gain realized when revenue gained from a business activity exceeds its costs
- value: the benefits buyers receive from an offering that meets their needs
A: value: the benefits buyers receive from an offering that meets their needs

Q: The personal value equation for each customer is the benefits they receive by consuming a company’s offering, ________.
- plus the price they paid and the time and effort they put into the shopping process
- plus the amount of pleasure they receive from the shopping process, which differs for each person
- minus the price they paid and the time and effort they put into the shopping process
A: minus the price they paid and the time and effort they put into the shopping process

Q: Which of the following are functions of marketing?
- understanding customer needs
- defining product pricing
- creating interactive dialogue with customers
A: understanding customer needs; defining product pricing; creating interactive dialogue with customers

Q: Which of the following are functions of marketing?
- building awareness of new products
- providing customer service
- improving production processes
A: building awareness of new products; providing customer service

Q: Communication-related marketing activities include ________.
- learning from customers what they want and like
- educating potential customers about the value of an offering
- motivating employees to work together more effectively
A: learning from customers what they want and like; educating potential customers about the value of an offering

Q: As head of marketing at a small business, you are trying to help the leadership team understand how your department can provide strategic value for the business. Which of the following statements correctly explain the role marketing should play?
- Marketing helps the company focus on understanding and responding to customer needs.
- Marketing helps the company create, communicate, and deliver value to customers.
- Marketing determines customer expectations and how to meet them.
A: Marketing helps the company focus on understanding and responding to customer needs.; Marketing helps the company create, communicate, and deliver value to customers.

Q: The "four Ps," also known as the marketing mix, consist of ________.
- product, packaging, placement, price
- product, planning, positioning, price
- product, promotion, place, price
A: product, promotion, place, price

Q: Which of the four Ps is defined as communication about an offering?
- Price
- Place
- Promotion
A: Promotion

Q: Which of the four Ps is defined as creating goods and services to offer customers?
- Promotion
- Place
- Product
A: Product

Q: Which of the four Ps is defined as setting the monetary amount charged and terms of exchange for a product or service?
- Promotion
- Place
- Price
A: Price

Q: Which of the four Ps is defined as delivering the product to a point at which the customer can purchase it?
- Price
- Promotion
- Place
A: Place

Q: Which of the following would make sense for a marketing team to consider when they’re working to improve "Product" (one of the four Ps of marketing)?
- product packaging
- different varieties offered
- methods of shipment for the product
A: product packaging; different varieties offered

Q: Shaun works for a company that produces mobile phone accessories. He’s been asked to propose a pricing strategy for a new line of phone cases. Which of the following would NOT belong in the pricing recommendations he will propose?
- wholesale and retail pricing for retail partners
- introductory, limited time promotional discounts
- in-store placement near checkout counters at selected retailers
A: in-store placement near checkout counters at selected retailers

Q: Alicia is the owner of an established hair salon. Recently she expanded to start offering spa services. Which of the following activities would be considered part of Promotion (one of the four Ps)?
- sponsoring a local dance team
- advertising on Facebook and in the local paper
- discounted pricing for first-time spa visits
A: sponsoring a local dance team; advertising on Facebook and in the local paper

Q: After opening a popular barbecue restaurant, Jake decides to bottle and sell his signature sweet BBQ sauce. Which questions will he answer as he makes decisions around Place (one of the four Ps)?
- Should I sell my sauce online, and if so, how would I do that?
- Besides my restaurant, which local shops would be interested in selling my sauce?
- What shape should the bottle be, and how should the label look?
A: Should I sell my sauce online, and if so, how would I do that?; Besides my restaurant, which local shops would be interested in selling my sauce?

Q: The external marketing environment consists of forces over which marketers ________.
- have absolute control
- can exercise control if they plan ahead
- have little if any control
A: have little if any control

Q: Which of the following are components of the external marketing environment?
- political and regulatory environment
- economic environment
- technological environment
A: political and regulatory environment; economic environment; technological environment

Q: Which of the following are components of the external marketing environment?
- competitive environment
- social and cultural environment
- management environment
A: competitive environment; social and cultural environment

Q: Facing tough competition in the mobile application market, John’s employer assigns him to monitor the competitive environment. Examples of competitive activity he should monitor in the external marketing environment include:
- new product features and enhancements
- advertising, promotions, and media coverage
- government regulations around data privacy
A: new product features and enhancements; advertising, promotions, and media coverage

Q: Changes in the technological environment may affect:
- where and how people shop for products
- how people learn about products
- what products people buy
A: where and how people shop for products; how people learn about products; what products people buy

Q: In the United States, the federal government took action to ban advertising of tobacco products on television and radio in 1970. Since then, the industry has faced a growing number of restrictions around promotional activity such as a ban on sponsoring sporting and entertainment events, prohibiting free samples, and limits on package sizes to eliminate lower-cost “kiddie packs.” These are all examples of which factor(s) in the external marketing environment?
- competitive environment
- social and cultural environment
- government and regulatory environment
A: government and regulatory environment

Q: Forces in the economic environment that can affect marketing planning and activity include:
- interest rates and inflation rates
- cycles of economic growth and recession
- pricing of competitors’ products
A: interest rates and inflation rates; cycles of economic growth and recession

Q: For marketing to be successful, companies need to understand ________, the decision process individuals go through when they are selecting, purchasing and using a product.
- demographic shifts
- social influences
- consumer behavior
A: consumer behavior

Q: The buying process does NOT include:
- evaluation
- need recognition
- generational adaptation
A: generational adaptation

Q: Which of the following correctly lists all five steps that are part of the buying process?
- information search, need recognition, benefit alignment, selection, post-purchase evaluation
- environmental scanning, need recognition, research, purchase, post-purchase evaluation
- need recognition, information search, evaluation, purchase, post-purchase evaluation
A: need recognition, information search, evaluation, purchase, post-purchase evaluation

Q: A ________ is a person who pays to consume the goods and/or services produced by a seller.
- competitor
- stakeholder
- consumer
A: consumer

Q: What is consumer market research?
- systematic collection and evaluation of data regarding consumer preferences for products and services
- a tool to help companies make better business decisions about how to satisfy customer needs
- the process of identifying, collecting, analyzing and sharing information about competitor companies, products and market activity
A: systematic collection and evaluation of data regarding consumer preferences for products and services; a tool to help companies make better business decisions about how to satisfy customer needs

Q: The primary goal(s) of consumer research include:
- serving as the voice of the consumer
- helping a company understand their target buyers
- improving distribution and the supply chain
A: serving as the voice of the consumer; helping a company understand their target buyers

Q: ________ research includes statistical, mathematical or computational techniques to investigate patterns and predict consumer behavior.
- Qualitative
- Exploratory
- Quantitative
A: Quantitative

Q: ________ research uses research techniques like focus groups and interviews to gain an in-depth understanding of human behavior and the reasons that govern it.
- Quantitative
- Descriptive
- Qualitative
A: Qualitative

Q: Alicia owns an established hair salon. She is interested in expanding to add spa services, but she wants to figure out whether her current clients use spa services and what types of services they would be interested in. What type of marketing research would be most appropriate for Alicia to help guide her business decisions about spa services?
- descriptive research
- causal research
- exploratory research
A: exploratory research

Q: Tom opened a coffee shop at a beach resort several years ago and has done well selling coffee, specialty teas and a small assortment of pastries to his customers. He is interested in expanding his business and is considering adding sandwiches and salads to his menu. Before he makes the investment in the equipment needed to expand his offerings he wants to find out what type of menu his customers would prefer. What type of marketing research would be most appropriate for Tom to help guide his business decisions about adding sandwiches and salads to his menu?
- descriptive research
- causal research
- exploratory research
A: exploratory research

Q: After opening a popular barbecue restaurant, Jake decides to bottle and sell his signature sweet BBQ sauce. Not surprisingly, most of his initial sales happen in the restaurant, but Jake is interested in placing his sauce in other retail outlets. He wants to know more about where most people buy barbecue sauce and what factors go into their decisions about which sauce to buy. What type of marketing research would be most helpful for Jake to inform his decisions?
- causal research
- exploratory research
- descriptive research
A: descriptive research

Q: What is the important first step in any marketing research project?
- research design formulation
- development of an approach to the problem
- problem definition
A: problem definition

Q: During the marketing research process, which step focuses on formulating research objectives, questions and frameworks that can influence the research design?
- data preparation and analysis
- problem definition
- development of an approach to the problem
A: development of an approach to the problem

Q: Which of the following activities are part of formulating a marketing research design?
- questionnaire design
- methods of collecting data
- plan of data analysis
A: questionnaire design; methods of collecting data; plan of data analysis

Q: What are the last three steps of the marketing research process?
- research design formulation, data collection, report preparation and presentation
- data collection, development of an approach to the problem, report preparation and presentation
- data collection, data preparation and analysis, report preparation and presentation
A: data collection, data preparation and analysis, report preparation and presentation

Q: What are the first three steps of the marketing research process?
- research design formulation, problem definition, development of an approach to the problem
- data collection, development of an approach to the problem, research design formulation
- problem definition, development of an approach to the problem, research design formulation
A: problem definition, development of an approach to the problem, research design formulation

Q: A firm’s strategic plan and its marketing plan both start with ________.
- social responsibility
- sales projections
- focus on customers
A: focus on customers

Q: ________ are the game plan a firm follows in order to accomplish what it sets out to do.
- Tactics
- Objectives
- Strategies
A: Strategies

Q: The results organizations want to achieve in a given time frame are their ________.
- strategies
- tactics
- objectives
A: objectives

Q: ________ are specific actions, methods and tools firms use to capitalize on market opportunities.
- Strategies
- Objectives
- Tactics
A: Tactics

Q: Which of the following are considered marketing tactics?
- a social media promotion
- a sporting event sponsorship
- a marketing plan
A: a social media promotion; a sporting event sponsorship

Q: Which type of strategy focuses on increasing sales of an existing product to existing customers?
- market development strategy
- diversification strategy
- market penetration strategy
A: market penetration strategy

Q: Which type of strategy focuses on entering new markets with existing products?
- market penetration strategy
- diversification strategy
- market development strategy
A: market development strategy

Q: Jake is the owner of a successful barbecue restaurant, and he also has a profitable business selling his bottled barbecue sauce. Responding to requests from customers, he is preparing to introduce another signature item, a bottled tangy marinade. With this approach, what type of strategy is Jake pursuing?
- market penetration strategy
- diversification strategy
- product development strategy
A: product development strategy

Q: When developing a marketing plan, what are key pieces of the plan marketers need to address?
- customer focus, product development and communicating value
- value chain, the exchange and evaluating performance
- diversification strategy, market penetration strategy and product development strategy
A: customer focus, product development and communicating value; value chain, the exchange and evaluating performance

Q: Alicia is the owner of a successful salon and day spa. Some of her clients have expressed concerns about chemicals in the beauty products used by the salon and spa. Alicia makes a strategic decision to go “natural” and “green” not only with the beauty products they use, but also with other business practices such as recycling, energy, and water conservation. She wants to incorporate these choices into how she markets and differentiates her business from competitors. Which marketing trend is Alicia addressing with this decision?
- social responsibility and metrics
- service-dominant logic and global environment
- sustainability and social responsibility
A: sustainability and social responsibility

Q: A set of attributes or features (e.g. name, term, design, symbol, reputation, etc.) that distinguishes the goods and services of one seller from another is known as ________.
- a trademark
- a marketing strategy
- a brand
A: a brand

Q: Essential ingredients for effective branding include:
- a plan for how to grow your brand in support of company strategy and objectives
- knowing where your brand stands in the marketplace today
- understanding what makes your brand different
A: a plan for how to grow your brand in support of company strategy and objectives; knowing where your brand stands in the marketplace today; understanding what makes your brand different

Q: Which of the following are branding elements?
- the distinctive shape of a Coca-Cola bottle
- Mickey Mouse ears
- the Pacific Ocean
A: the distinctive shape of a Coca-Cola bottle; Mickey Mouse ears

Q: A(n) ________ is a recognized symbol of a company or product that is established by use and built up through marketing and branding activities.
- insignia
- tactic
- trademark
A: trademark

Q: When his new cell phone stopped working within a week, Jim went to the storefront of Walkie-Talkie Mobile, his mobile service provider, for assistance. After listening to Jim’s story, the customer service representative tried to troubleshoot Jim’s problems several ways. Nothing worked. After consulting with her manager, the service rep offered Jim a new phone and migrated his data while he waited. Although it took over an hour, Jim was happy to leave the store with a working phone. From the information provided in this story, what likely contributed to Jim’s positive experience with the Walkie-Talkie Mobile brand?
- product quality of the mobile phone
- Walkie-Talkie Mobile Super Bowl ads
- customer service experience
A: customer service experience

Q: How does effective branding typically benefit businesses?
- it builds customer loyalty
- it can command premium pricing
- it improves production output
A: it builds customer loyalty; it can command premium pricing

Q: A consumer’s commitment to repurchase or otherwise continue using a particular brand by repeatedly buying that product or service is known as ________.
- brand recognition
- brand extension
- brand loyalty
A: brand loyalty

Q: Common ways of tracking and measuring brand equity include ________.
- calculating the price premium between a branded product and its close competitors
- calculating and handling brand as an intangible financial asset of the firm
- calculating revenues earned from a branded product or company
A: calculating the price premium between a branded product and its close competitors; calculating and handling brand as an intangible financial asset of the firm

Q: Successful brand line extensions benefit businesses in the following ways:
- they reduce the financial risk associated with new product development
- they build on customers’ loyalty to an existing brand to introduce them to new products
- they may cannibalize sales of the company’s older, established products
A: they reduce the financial risk associated with new product development; they build on customers’ loyalty to an existing brand to introduce them to new products

Q: During a product strategy meeting at a sports drink company, the leadership team agrees to pursue a new, “natural” line of sports drinks targeting women. The CEO wants to use the last 15 minutes of the meeting to brainstorm potential brand names for the new product line. What important steps should the team take before diving into name selection?
- create a plan for how this brand will support company strategy and objectives
- clearly define what makes this brand different and distinct from the competition
- develop a marketing plan to introduce the new brand
A: create a plan for how this brand will support company strategy and objectives; clearly define what makes this brand different and distinct from the competition

Q: Pricing strategies that are most appropriate for introducing new products to the market include:
- high/low pricing and psychological pricing
- cost-plus pricing and pricing below competitors
- penetration pricing and skimming
A: penetration pricing and skimming

Q: When it comes to pricing strategy, firms should:
- pick a pricing strategy that works and stick with it
- change pricing strategy regularly to keep the competition at bay
- monitor and adapt pricing strategy to new scenarios as they arise
A: monitor and adapt pricing strategy to new scenarios as they arise

Q: Every week, the grocery store chain Green Jeans advertises weekly specials and coupons, hoping to attract customers with great sale prices. This is an example of:
- psychological pricing
- everyday low pricing
- high/low pricing
A: high/low pricing

Q: "Higher price equates to higher quality," is an example of a ________ pricing strategy in action.
- skimming
- high/low
- psychological
A: psychological

Q: Penetration pricing works on the assumption that:
- early adopters are willing to pay more for a premium product
- sale prices will attract customers to the store, where they will also buy things at regular higher prices
- price-sensitive customers will switch to a new product because it’s cheaper
A: price-sensitive customers will switch to a new product because it’s cheaper

Q: High-low pricing works on the assumption that:
- early adopters are willing to pay more for a premium product
- price-sensitive customers will switch to a new product because it’s cheaper
- sale prices will attract customers to the store, where they will also buy products at regular higher prices
A: sale prices will attract customers to the store, where they will also buy products at regular higher prices

Q: Skimming works on the assumption that:
- price-sensitive customers will switch to a new product because it’s cheaper
- sale prices will attract customers to the store, where they will also buy things at regular higher prices
- early adopters are willing to pay more for a premium product
A: early adopters are willing to pay more for a premium product

Q: When Apple introduced the first iPhone, it was priced substantially higher than other mobile phones at the time. But because it was also the latest technology, Apple was confident it would sell well. This is an example of:
- penetration pricing
- odd pricing
- skimming
A: skimming

Q: Samsung entered the smartphone market after Apple’s success with the iPhone. Samsung priced its phones substantially lower than the iPhone, hoping to win customers who wanted to pay less for a latest-generation smartphone. This is an example of:
- skimming
- high/low pricing
- penetration pricing
A: penetration pricing

Q: Kayla manages a boutique selling well-designed but moderately-priced women’s clothing and accessories. Sales have been slow lately, so the boutique owner asks Kayla what pricing strategies she would recommend to bring more customers into the shop and increase sales. To achieve these goals most effectively in the immediate future, which approach(es) should Kayla recommend?
- psychological pricing
- skimming
- high/low pricing
A: high/low pricing

Q: Although penetration pricing can be effective at generating sales and establishing a new product in the market more quickly, what are the trade-off(s) of this approach?
- accepting lower prices and profit margins
- focusing on sales volume, rather than profitability
- pricing products higher than the competition
A: accepting lower prices and profit margins; focusing on sales volume, rather than profitability

Q: What is the primary purpose of product placement?
- to assemble inputs that go into the production process
- to increase consumer awareness of products
- to get products to the consumer
A: to get products to the consumer

Q: What primary task(s) are associated with product placement (also known as distribution)?
- physically distribute goods through the distribution channel
- select, develop and manage the distribution channel
- price products appropriately for the distribution channel
A: physically distribute goods through the distribution channel; select, develop and manage the distribution channel

Q: M&Ms are a popular candy snack people can buy almost anywhere in the U.S. M&Ms’ degree of placement is ________.
- selective
- integrated
- intensive
A: intensive

Q: Kate Spade handbags are available in Kate Spade boutiques as well as upscale department stores and some off-price retailers. What is the degree of placement for Kate Spade handbags?
- intensive
- exclusive
- selective
A: selective

Q: Which factor(s) should marketers consider as they identify the optimal distribution channel?
- Who are your target consumers and where do they like to shop?
- Will this channel reach enough consumers?
- How long will it take to get the product into the customer’s hands?
A: Who are your target consumers and where do they like to shop?; Will this channel reach enough consumers?; How long will it take to get the product into the customer’s hands?

Q: In indirect distribution channels, the three types of intermediaries include:
- wholesalers, retailers, ecommerce outlets
- importers, exporters, retailers
- importers, wholesalers, retailers
A: importers, wholesalers, retailers

Q: Junia grows organic strawberries on her family-owned farm and sells them throughout spring and summer at local farmers’ markets. What type of distribution channel does she use?
- indirect
- specialty
- direct
A: direct

Q: Fernando sells collectible baseball cards online through eBay and other online marketplaces. This is considered what type of distribution channel?
- direct
- indirect
- specialty
A: specialty

Q: Alexi makes handcrafted pens from specialty woods. He loves the craftsmanship of this work, but he doesn’t want to deal with the hassles of manning and marketing a storefront to sell his pens or setting up an online shop. What type of distribution channels should he explore?
- direct
- specialty
- indirect
A: indirect

Q: The promotion mix is a set of activities and media channels marketers use to:
- raise consumers awareness of a product or brand
- communicate about and promote a product
- coordinate effective product distribution
A: raise consumers awareness of a product or brand; communicate about and promote a product

Q: ________ involves delivering consistent, coordinated marketing messages across a combination of marketing tools such as advertising, sales promotions, direct marketing, public relations and publicity, sponsorships (events and experiences), social media and interactive marketing, and professional selling.
- Marketing strategy
- Distribution strategy
- Integrated marketing communications (IMC)
A: Integrated marketing communications (IMC)

Q: Factors that affect a marketer’s choice of elements in the promotion mix include:
- product life cycle stage, budget available and consumers’ preferences for media
- type of product, target market characteristics and push vs. pull strategy
- type of purchase decision, consumers’ readiness to purchase and availability of media
A: product life cycle stage, budget available and consumers’ preferences for media; type of product, target market characteristics and push vs. pull strategy; type of purchase decision, consumers’ readiness to purchase and availability of media

Q: Coupons, customer loyalty programs, rebates, sweepstakes, and premiums are all examples of:
- consumer sales promotions
- pull strategies
- trade promotions
A: consumer sales promotions; pull strategies

Q: A shaving cream producer places coupons in a Sunday paper supplement. This activity coincides with a “cleanest shave” photo contest on Twitter in which the company tweets an online coupon to everyone who tweets a “#cleanshave” photo. This scenario is an example of:
- consumer sales promotion
- integrated marketing communication
- pull strategy
A: consumer sales promotion; integrated marketing communication; pull strategy

Q: Ahead of the Fourth of July holiday, a sports drink company offers price discounts to its retail partners, along with a special in-store display. At the same time, the company buys banner ads on sports-themed websites, where customers can click through to a buy-one-get-one-free coupon. This scenario is an example of:
- push and pull strategies
- integrated marketing communications
- push strategies only
A: push and pull strategies; integrated marketing communications

Q: Strategies that directly target final consumers with promotions are known as:
- push and pull strategies
- push strategies
- pull strategies
A: pull strategies

Q: Strategies that promote a product to wholesalers and retailers, who in turn promote that product to consumers, are known as:
- push and pull strategies
- pull strategies
- push strategies
A: push strategies

Q: A software manufacturer attends a trade show for corporate IT directors in the banking sector, where it has a booth display. During the tradeshow, everyone visiting the booth can enter sweepstakes to win an iPad. Afterwards, the marketing team follows up with booth visitors to invite them to an informational webinar about the company’s latest product. This scenario is an example of:
- trade promotions
- integrated marketing communication
- push strategies
A: trade promotions; integrated marketing communication

Q: The marketing team of a software manufacturer is planning promotional activities for an upcoming trade show attended by many of their target consumers. In addition to defining key messages and the available budget, what additional factors should the team explore as they finalize their plans?
- media and communication tools preferred by their target consumers
- optimal ways to follow up on customer leads generated at the trade show
- how target consumers will travel to and from the trade show
A: media and communication tools preferred by their target consumers; optimal ways to follow up on customer leads generated at the trade show

Q: What makes social media fundamentally different from traditional media?
- social media are designed for interaction, while traditional media are designed for one-way communication
- it is easier to track how people view and use social media, as compared to traditional media
- social media content is far more expensive to produce and publish, compared to traditional media
A: social media are designed for interaction, while traditional media are designed for one-way communication; it is easier to track how people view and use social media, as compared to traditional media

Q: Which of the following are advantages of using social media for marketing purposes?
- it is easy to listen and learn from communities interacting with your brand
- it is possible to generate a lot of buzz without a lot of expense
- absolute control of the message is possible in social media
A: it is easy to listen and learn from communities interacting with your brand; it is possible to generate a lot of buzz without a lot of expense

Q: Which of the following are disadvantages of using social media for marketing purposes?
- it is challenging to monitor and influence perceptions in a 24×7 media cycle
- cybersecurity and data privacy concerns are significant
- it is relatively expensive to create and publish content on social media
A: it is challenging to monitor and influence perceptions in a 24×7 media cycle; cybersecurity and data privacy concerns are significant

Q: In general, social media channels are ________ in influence, meaning their marketing potential is also ________.
- growing; decreasing
- declining; decreasing
- growing; increasing
A: growing; increasing

Q: According to the text, social media “zones” are a useful way to think about:
- the dramatically lower cost of creating and publishing content through social media
- how to allocate a growing portion of the promotion budget on social media marketing
- how people use different types of social media and where business and personal uses overlap
A: how people use different types of social media and where business and personal uses overlap

Q: Social media marketing is helping to drive significant changes in:
- how marketers use data to monitor consumer attitudes and behaviors
- how companies attract and recruit new employees
- how marketers are consolidating their focus on a small number of media tools
A: how marketers use data to monitor consumer attitudes and behaviors; how companies attract and recruit new employees