MRKG 1311- Principles of MarketingFinal Exam Instructor: Sarah Felmet 1) Which of the following is one of the eras of marketing? (1 point) A. The historical marketing era B. The sales oriented era C. The services oriented era D. The marketing mix era 2) Which of the following are channels of marketing? (1 point) 1. B2B 2. C2C 3. C2B 4. B2C A. All of the above B. 1 only C. 1 and 3 only D. 1, 2 and 4 only 3) Step 3 in the implementation phase of the strategic planning process involves which of the following? (1 point) A. Positioning B. Pricing C. Placement D. Promotion 4) Which of the following are growth strategies? (1 point) 1. Market development strategy 2. Operational excellence strategy 3. Product excellence strategy 4. Diversification strategy A. 1 and 2 only B. None of the above C. 4 only D. 1 and 4 only 5) Which of the following is not included in the Micro environment? (1 point) A. The climate B. The company C. The corporate partners D. The competition 6) What are the two types of culture when considering the macro environment? (1 point) 1. Regional culture 2. Personal culture 3. Religious culture 4. Country culture A. 1 and 2 B. 4 and 1 C. 2 and 3 D. 1 and 3 7) Diversification strategy focuses on current markets and products (1 point) T or F 8) In external research, (1 point) A. The consumer does internal reflecting B. Actual research such as internet search is done by the consumer C. The consumer uses psychology to determine whether or not to purchase D. Situational factors are a huge factor 9) The term counter trade refers to: (1 point) A. Trading goods for money B. Trading goods for goods C. Changing your mind about trading goods D. Refusing to sign a trade agreement 10) Which of the following is a type of global marketing opportunity? (1 point) A. Quota B. Licensing C. Franchising D. Direct Experience 11) The first step in a market research project is: (1 point) A. Data Collection B. Design the research project C. Define the research objectives D. Present the results 12) Stage 4 in the international market entry evaluation process is: (1 point) A. Country identification B. Direct experience C. In depth screening D. Final Selection 13) Infrastructure and technology are factors in assessing global markets (1 point) T or F 14) In transfer pricing, the ________________ based manager sets the price but an international subsidiary can change it (2 points) 15) Which of the following is an example of a segmentation strategy? (1 point) A. Demographic segmentation strategy B. Concentrated Segmentation Strategy C. Macromarketing D. Symbolic Strategy 16) Export pricing is a form of international pricing approaches (1 point) T or F 17) Tariffs are considered: (1 point) A. A tax B. A marketing firm C. To be illegal D. To be something that every marketing form wants 18) Fill in the blank (2 points) .

1. MRKG 1311- Principles of MarketingFinal Exam
Instructor: Sarah Felmet
1) Which of the following is one of the eras of marketing?
(1 point)
A. The historical marketing era
B. The sales oriented era
C. The services oriented era
D. The marketing mix era
2) Which of the following are channels of marketing?
(1 point)
1. B2B
2. C2C
3. C2B
4. B2C
A. All of the above
B. 1 only
C. 1 and 3 only

2. D. 1, 2 and 4 only
3) Step 3 in the implementation phase of the strategic planning
process involves which of the following?
(1 point)
A. Positioning
B. Pricing
C. Placement
D. Promotion
4) Which of the following are growth strategies?
(1 point)
1. Market development strategy
2. Operational excellence strategy
3. Product excellence strategy
4. Diversification strategy

3. A. 1 and 2 only
B. None of the above
C. 4 only
D. 1 and 4 only
5) Which of the following is not included in the Micro
environment?
(1 point)
A. The climate
B. The company
C. The corporate partners
D. The competition
6) What are the two types of culture when considering the
macro environment?
(1 point)
1. Regional culture
2. Personal culture
3. Religious culture
4. Country culture
A. 1 and 2
B. 4 and 1

4. C. 2 and 3
D. 1 and 3
7) Diversification strategy focuses on current markets and
products
(1 point)
T
or
F
8) In external research,
(1 point)
A. The consumer does internal reflecting
B. Actual research such as internet search is done by the
consumer
C. The consumer uses psychology to determine whether or not
to purchase
D. Situational factors are a huge factor
9) The term counter trade refers to:

5. (1 point)
A. Trading goods for money
B. Trading goods for goods
C. Changing your mind about trading goods
D. Refusing to sign a trade agreement
10) Which of the following is a type of global marketing
opportunity?
(1 point)
A. Quota
B. Licensing
C. Franchising
D. Direct Experience
11) The first step in a market research project is:
(1 point)
A. Data Collection

6. B. Design the research project
C. Define the research objectives
D. Present the results
12) Stage 4 in the international market entry evaluation process
is:
(1 point)
A. Country identification
B. Direct experience
C. In depth screening
D. Final Selection
13) Infrastructure and technology are factors in assessing global
markets
(1 point)
T
or
F
14) In transfer pricing, the ________________ based manager
sets the price but an international subsidiary can change it

7. (2 points)
15) Which of the following is an example of a segmentation
strategy?
(1 point)
A. Demographic segmentation strategy
B. Concentrated Segmentation Strategy
C. Macromarketing
D. Symbolic Strategy
16) Export pricing is a form of international pricing approaches
(1 point)
T
or
F
17) Tariffs are considered:
(1 point)

8. A. A tax
B. A marketing firm
C. To be illegal
D. To be something that every marketing form wants
18) Fill in the blank
(2 points)
Government’s actions can affect marketing in terms of
________________ practices
19) Fill in the blank
(1 point)
________________ is a strategy used by a firm to focus on the
excellent services for the customer to retain loyal customers
20) What do the letters “FTC” stand for?

9. (1 point)
______________________________________________
21) Promotion of a product involves:
(1 point)
A. Creating value for the product
B. Determining where the product will be sold
C. Focusing of the value of the product
D. Considering the competitor’s price
22) The following are the steps for the framework for ethical
decision making
1. Select a course of action
2. Identify the issues
3. Brainstorm alternatives
4. Gather information and identify who it affects
Pick the order within which they should be used

10. (1 point)
A. 1, 2, 3, 4
B. 1, 3, 2, 4
C. 2, 4, 3, 1
D. 4, 1, 2, 3
23) Identity theft and privacy issues are a part of the social
trends
(1 point)
T
or
F
24) It is not necessary to apply ethics to phase 1 of the strategic
planning process but it is necessary to apply it to phases 2 and 3
(1 point)
T
or
F

11. 25) Product depth is most associated with:
(1 point)
A. The categories of a product
B. The value of a product
C. The company’s stocks
D. The lines of a product
26) Fill in the blank:
(1 point)
When you increase the breadth you are increasing the number of
_____________ to a product
27) Private Labels are:

12. (1 point)
A. Brands that are used when a firm repositions itself
B. Those that involve mixing of brands
C. Those that are sold in stores and made by the stores
D. Labels used when packaging
28) Branding helps establish loyalty and confidence
(1 point)
T
or
F
29) Fill in the blank:
(2 points)
Innovation is the process by which ______________ become
new ______________

13. 30) When generating an idea, the use of a R&D consortium is
not considered
(1 point)
T
or
F
31) Which of the following are stages in the life cycle of a
product?
(1 point)
A. Introduction Stage
B. Evaluation Stage
C. Marketing Stage
D. Testing Stage
32) Services are considered:
(1 point)
A. Expensive
B. Unnecessary

14. C. Hard to Market
D. Perishable
33) Training is a way to reduce the standards gap
(1 point)
T
or
F
34) The first C in the 5 C’s of pricing refers to:
(1 point)
A. Change
B. Company Stock
C. Company objective
D. Curve
35) The demand curve is an inverse correlation

15. (1 point)
T
or
F
36) Name two things other than the 5 C’s that can affect pricing
(2 points)
________________________________
________________________________
37) In price skimming, the _____________ price is high
(1 point)
A. End
B. Seasonal
C. Market
D. Initial
38) Fill in the blank

16. (1 point)
Market penetration pricing refers to setting an initial
____________ price as the introductory price
39) Markdowns is not a pricing tactic
(1 point)
T
or
F
40) Price fixing involves companies collaborating with each
other
(1 point)
T
or
F
41) Companies and Retailers can use electronic trading to:
(1 point)
A. Expand their trade area

17. B. Buy out other retailers
C. Make their product more expensive
D. Eliminate brick and mortar retailers
42) Noise occurs when there is a difference between the
_________________ and the _______________________
(2 points)
43) In personal selling there is a _____________
communication between buyer and seller
(1 point)
A. One way
B. Two way
C. Decoding
D. Persuasive

18. 44) Using public relations is a paid form of communications
(1 point)
T
or
F
45) Cinema is considered a medium in advertising
(1 point)
T
or
F
46) Loyalty programs are associated with which of the
following:
(1 point)
A. Sweepstakes
B. Contests
C. Credit cards
D. Samples

19. 47) The personal selling process is a ________ step process
(1 point)
A. Two step
B. Three step
C. Four step
D. Five step
48) When managing a sales department, one of the things to
consider is
(1 point)
A. The color of your offices
B. The height of the people you hire
C. Training for your salespeople
D. Always to have meetings once a week
49) The sales call can also be a sales presentation
(1 point)
T
or
F

20. 50) Name two things that we market
(2 points)
I. ___________________________
II___________________________
51) List the 3 phases in the strategic planning process
(3 points)
__________________________
__________________________
__________________________
52) The letters H.D.I. Stand for which of the following?
(1 point)
A. Human Decline Index
B. Human Development Index

21. C. Human Development Institution
D. Home Decline Index
53) List 3 of the 5 types of segments
(3 points)
____________________________
____________________________
____________________________
54) List the 3 factors that are considered in the H.D.I.
(3 points)
____________________________
____________________________
____________________________
55) Variability refers to the ________________ of service
(1 point)

22. A. Price
B. Quality
C. Type
D. Amount