MKT300/TROY_ Practice Questions_By Linh Tran

Final Exam Practice Questions

1. Individuals and households that buy or acquire goods and services for personal consumption
make up the .
A) consumer market
B) market offering
C) market mix
D) subculture

2. Which of the following is one of the other stimuli present in a buyer's environment apart
from marketing stimuli?
A) product stimuli
B) cultural stimuli
C) price stimuli
D) place stimuli

3. According to the model of buyer behavior, which of the following is one of the two primary
parts of a "buyer's black box"?
A) technological stimuli
B) buyer's decision process
C) buyer's spending habits
D) social stimuli

4. In the model of buyer behavior, which of the following is NOT a major type of force or event
in the buyer's environment?
A) economic
B) technological
C) social
D) political

5. is the most basic determinant of a person's wants and behavior.

A) Culture
B) Brand personality
C) Cognitive dissonance
D) Motive

6. Each culture contains smaller , or groups of people with shared value systems based
on common life experiences and situations.
A) cultural universals
B) reference groups
C) subcultures

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D) monocultures

7. are society's relatively permanent and ordered divisions whose members share
similar values, interests, and behaviors.
A) Social classes
B) Societal norms
C) Reference groups
D) Universal cultures

8. Consumer purchases are influenced strongly by characteristics that marketers cannot control
but must take into account, including cultural, social, psychological, and
characteristics.
A) economic
B) professional
C) medical
D) personal

9. Which of the following statements is true of social classes?

A) Social classes are society's temporary divisions.
B) Members of a social class have unique and distinct values, interests, and behaviors.
C) People within a social class tend to exhibit similar buying behavior.
D) Income is the single factor that determines social class.

10. A shoe manufacturing company uses ads featuring the members of a country music band
with the hope that the band's fans will see them wearing the company's shoes and hence purchase
the same brand of shoes. The shoe company believes that the band portrays the image of a
to the band's fans.
A) membership group
B) reference group
C) status symbol
D) subculture

11. Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She actively
shares her knowledge with a wide group of friends and colleagues about where to shop for the
latest fashion at great deals. Most of her friends and colleagues follow her fashion tips. Rachel
portrays the image of a(n) .
A) surrogate consumer
B) lagging adopter
C) opinion leader
D) brand personality

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12. Which of the following is true with regard to products?

A) The quality of products is far more difficult to measure than that of services.
B) Products do not include experiences, organizations, persons, places, and ideas.
C) Products are not meant for sale in the market.
D) Products include services, events, persons, places, organizations, ideas, or a mixture of
these.

13. are a form of product that consists of activities, benefits, or satisfactions offered
for sale that are essentially intangible and do not result in the ownership of anything.
A) Liabilities
B) Services
C) Brands
D) Consumer products

14. Which of the following exemplifies a service?

A) candy
B) laptop
C) hair salon
D) car

15. Which of the following is true with regard to services?

A) Services refer to purely tangible products.
B) Services are a form of product that consists of activities, benefits, or satisfactions offered
for sale.
C) Services can be stored for later use.
D) Services can be easily separated from their providers.

16. Product planners need to consider products and services on three levels. Each level adds
more customer value. The most basic level is , which addresses the question, "What is
the buyer really buying?"
A) an actual product
B) an augmented product
C) core customer value
D) co-branding

17. Product planners need to consider products and services on three levels. At the second level,
product planners must .
A) offer additional product support and after-sale services
B) identify the core customer value that consumers seek from the product

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C) turn the core benefit into an actual product

D) find out how they can create the most satisfying brand experience

18. Product planners need to consider products and services on three levels. At the third level,
product planners must build .
A) an actual product
B) an augmented product
C) core customer value
D) a brand personality

19. Consumer products refer to .

A) products purchased by consumers for further processing or for use in conducting a business
B) products and services bought by final consumers for personal consumption
C) primarily intangible offerings from marketers
D) raw materials as well as manufactured materials and parts

20. are consumer products and services that customers usually buy frequently,
immediately, and with minimal comparison and buying effort.
A) Unsought products
B) Capital items
C) Shopping products
D) Convenience products

21. are less frequently purchased consumer products and services that customers
compare carefully on suitability, quality, price, and style.
A) Shopping products
B) Convenience products
C) Unsought products
D) Capital items

22. Erica wants to replace her old washing machine with a new one. In order to get the
maximum value for her money, she plans to spend substantial time and effort in gathering
information and making product comparisons before making the actual purchase. In this
instance, Erica is planning to buy a(n) product.
A) convenience
B) unsought
C) specialty
D) shopping

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23. A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania,

from locally grown wood, is an example of a .
A) convenience product
B) capital item
C) service
D) specialty product

25. A is a name, term, sign, symbol, design, or a combination of these, that identifies
the maker or seller of a product or service.
A) feature
B) brand
C) line extension
D) package

26. A product's identifies the product or brand, describes several things about the
product, and promotes the brand.
A) line extension
B) portfolio
C) label
D) design

27. If a service employee provides the service, then the employee becomes a part of the service.
This is an example of service .
A) intangibility
B) inseparability
C) variability
D) perishability

28. Service means that the quality of services depends on who provides them as well
as when, where, and how they are provided.
A) intangibility
B) inseparability
C) variability
D) perishability

29. refers to the amount of money charged for a product or service.

A) Value
B) Cost
C) Price
D) Wage

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30. Which of the following is true with regard to price?

A) Historically, price has had the least perceptible impact on buyer choice.
B) Price is the least flexible element in the marketing mix.
C) Unlike product features and channel commitments, prices cannot be changed quickly.
D) Price is the sum of all the values that customers give up to gain the benefits of having a
product.

31. What sets the floor for product prices?

A) consumer perceptions of the product's value
B) product costs
C) competitors' strategies
D) advertising budgets

32. pricing uses buyers' perceptions of value as the key to pricing.

A) Customer value-based
B) Cost-based
C) Time-based
D) Markup

33. What is usually the first step in cost-based pricing?

A) testing the product concept with potential customers
B) determining the marketing mix strategy
C) setting a price that covers costs plus a target profit
D) designing a good product

34. A pharmaceutical company in Utah recently released a new and expensive anti-ulcer drug in
the market. The company justifies the high price of the drug by claiming that it is highly
effective for treating all kinds of ulcers. The company also claims that the new drug will help
bring down the need for invasive surgeries, an additional benefit for patients. Which of the
following pricing strategies is the pharmaceutical company most likely using in this instance?
A) target pricing
B) markup pricing
C) cost-based pricing
D) value-based pricing

35. pricing refers to offering just the right combination of quality and gratifying
service at a fair price.
A) Markup
B) Good-value

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C) Cost-plus
D) Target profit

36. Bon Vivant offers an assortment of exclusive French wines at incredibly low prices. These
prices are neither limited-time offers nor special discounts, but represent the daily prices of
products sold by Bon Vivant. This reflects Bon Vivant's pricing strategy.
A) everyday low
B) markup
C) penetration
D) break-even

37. involves setting prices based on the costs for producing, distributing, and selling
the product plus a fair rate of return for effort and risk.
A) Value-based pricing
B) Competition-based pricing
C) Cost-based pricing
D) Penetration pricing

38. Companies with higher costs .

A) can drive out competitors through their pricing strategy
B) intentionally pay higher costs so that they can add value through higher quality and
claim higher prices and margins
C) can set lower prices that result in increased sales though with lower margins
D) specialize in selling products without value-added features

39. The sets of firms that supply companies with the raw materials, components, parts,
information, finances, and expertise needed to create products or services are known as
.
A) retailers
B) upstream partners
C) distributors
D) downstream partners

40. The term supply chain is considered limited because it .

A) ignores the make-and-sell aspect of the market
B) suggests that planning begins with raw materials and factory capacity
C) takes a step-by-step, linear view of purchase-production-consumption activities
D) takes a sense-and-respond view of the market

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41. A is made up of the company, suppliers, distributors, and customers who partner
to improve the performance of the entire system.
A) value delivery network
B) horizontal channel
C) consumer base
D) product delivery network

42. A is a set of interdependent organizations that help make a product or service

available for use or consumption by the consumer or business user.
A) product line
B) product delivery network
C) marketing channel
D) consumer base

43. From the economic system's point of view, the role of is to transform the
assortments of products made by producers into the assortments wanted by consumers.
A) upstream partners
B) marketing intermediaries
C) third-party logistics
D) price consultants

44. Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an
identified sponsor is called and includes broadcast, mobile, print, and online forms.
A) sales promotion
B) advertising
C) direct and digital marketing
D) personal selling

45. The decisions about impact and engagement of an advertisement fall into the category of
decisions.
A) sales objectives
B) budget
C) message
D) media

46. An advertising objective is classified by its primary purpose, which is to inform, persuade, or
.
A) reciprocate
B) compete
C) remind

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D) explain

47. Which of the following is most likely an objective of informative advertising?

A) build brand preference
B) change customer perceptions of brand value
C) encourage customers to switch brands
D) suggest new uses for a product

48. Which term refers to the general idea that will be communicated to consumers through
an advertisement?
A) advertising appeal
B) message strategy
C) consumer-generated message
D) creative concept

49. Which of the following are the three characteristics that an advertising appeal should have?
A) engaging, informative, and stylish
B) trendy, compelling, and appealing
C) meaningful, believable, and distinctive
D) unique, emotional, and entertaining

50. An ad for a new convection oven shows a busy professional woman using the convection
oven to cook dinner for her family. Which of the following message execution styles is
illustrated in this example?
A) testimonial evidence
B) slice of life
C) fantasy
D) scientific evidence

51. Which of the following is illustrated by an amateur 30-second video, developed by a

consumer, telling the story of the online crafts marketplace, Etsy.com?
A) personal selling
B) consumer-generated messages
C) consumer ethnocentrism
D) sales promotion

52. Which of the following is a major step in selecting advertising media?

A) determining reach, frequency, and impact
B) selecting message execution style
C) developing a compelling creative concept

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D) deciding on format elements

53. News conferences, press tours, and grand openings are examples of , a type of tool
commonly used by public relations professionals.
A) public service activities
B) special events
C) social networking
D) development

54. A(n) is an individual who represents a company to customers by prospecting,

communicating, selling, servicing, information gathering, and/or relationship building.
A) auditor
B) trainer
C) salesperson
D) manager

55. Which of the following is true about the sales force of a company?
A) Salespeople rely on engineers and manufacturers to learn about customer needs.
B) The sales force plays a minor role in customer-company relationships.
C) Salespeople rarely visit in person with customers.
D) Salespeople represent customers to the company, championing customers' interests.

56. is defined as analyzing, planning, implementing, and controlling sales force

activities.
A) Benchmarking
B) Sales force management
C) Business intelligence
D) Sales force automation

57. Which of the following is the last step in the selling process?
A) qualifying
B) handling objections
C) demonstration
D) follow-up

58. In the stage of the selling process, a company first identifies qualified potential
customers.
A) preapproach
B) follow-up
C) prospecting

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D) presentation

59. Which of the following statements is true of direct marketing?

A) Direct marketing is also referred to as referral marketing.
B) Salespersons are compensated for other salespeople they recruit.
C) Direct marketing offers sellers a low-cost alternative for reaching their markets.
D) Direct marketing involves two or more intermediaries.

60. Which of the following is true about digital marketing?

A) Digital marketing is also referred to as multi-level marketing.
B) Salespersons are compensated for other salespeople they recruit.
C) Digital marketing allows sellers to create immediate, timely, and personal offers.
D) Digital marketing involves two or more intermediaries.