Mock Final Exam Paper PDF

Mock Final Indicate whether the statement is true or false. 1. Protection of consumer privacy is a major ethical issue faced by social media marketers. a. True b. False 2. A product’s package has a negligible effect on the purchase decisions of potential buyers. a. True b. False 3. A manufac...

Mock Final Indicate whether the statement is true or false. 1. Protection of consumer privacy is a major ethical issue faced by social media marketers. a. True b. False 2. A product’s package has a negligible effect on the purchase decisions of potential buyers. a. True b. False 3. A manufacturer’s brand that was once widely distributed but is now limited to one or two retail outlets exclusively is called a captive brand. a. True b. False 4. The compensation system for sales representatives is often tied to sales quotas. a. True b. False 5. Public and private consumer groups like Mothers Against Drunk Driving (MADD) are not considered to be part of the legal environment. a. True b. False 6. Jan just received a bookmark from a publisher. On the bookmark is the name of an upcoming novel by a best-selling author. The bookmark is an example of specialty advertising. a. True b. False 7. Once consumers have used a product, seen it advertised, or noticed it in a store, it moves from the unknown to the known category, which increases the probability that they will purchase it. a. True b. False 8. Interactive marketing refers to buyer–seller communication in which the customer controls the amount and type of information received from a marketer. a. True b. False 9. The practices of price fixing, bid rigging, and price discrimination are criminal offences. a. True b. False 10. Under the relationship marketing concept, employees within a firm need not apply the same high standards of customer satisfaction to internal relationships at they do to external customer relationships. a. True b. False Name: Class: Date: Mock Final 11. Tactical plans typically address shorter-term actions that focus on current and near-future activities. a. True b. False 12. One important difference between for-profit and not-for-profit organizations is that for-profits often market to multiple publics rather than the single public on which not-for-profits may focus. a. True b. False 13. Information technology is a major factor in allowing services to be traded internationally. a. True b. False 14. Team selling is usually a temporary arrangement intended to serve the customer from the initial contact through the initial sale. a. True b. False 15. Sales promotions are long-term activities that need to work independently of advertising, publicity, and personal selling in order to be effective. a. True b. False Indicate the answer choice that best completes the statement or answers the question. 16. When gasoline prices are high, many oil companies promote ways to save gas. What process can oil companies begin by providing tips on car maintenance, carpooling, and idling in traffic? a. supply control b. counter advertising c. brand promotion d. demarketing 17. Which of the following defines an organization’s mission? a. process of anticipating future events and conditions b. companywide program for scaling down the product-lines that are low on profitability c. essential purpose that differentiates one company from others d. collection of limited periods during which key requirements of a market and a firm’s particular competencies best fit together 18. WestJet Airlines has one of the lowest levels of operating expenses in the airline industry. In a SWOT analysis, what is this classified as? a. opportunity b. constraint c. strength d. threat Name: Class: Date: Mock Final 19. What is the highest level of corporate social responsibility? a. economic b. legal c. ethical d. philanthropic 20. What part of a social media marketing plan examines and evaluates the competitors’ presences in social media, including the platforms and tools they select and their overall effectiveness? a. competitive analysis b. executive summary c. overview d. body 21. What term refers to a trade restriction that limits the number of units of products in certain categories that can cross a country’s boundary for resale? a. protective tariff b. embargo c. import quota d. subsidy 22. What do we refer to when we discuss the revenues and intangible benefits accrued to the firm, minus the investment to attract and keep a customer? a. gradient of return on investment b. intangible benefit stream c. investment-benefit differential d. lifetime value of the customer 23. What do we call the organizational function and set of processes that create, communicate, and deliver value to customers, and that manages customer relationships in ways that benefit the organization and its stakeholders? a. marketing b. finance c. sales d. administration 24. A Canadian firm is considering marketing its products in another country. The new market is attractive, but the country’s cultural and legal environments are different from those in Canada. Based only on the information provided, how should the firm proceed? a. Avoid the new market completely and focus only on the domestic market. b. Enter the new market using the same marketing strategy the firm uses in Canada. c. Enter the new market using the same marketing strategy the firm employs in existing foreign markets. d. Enter the new market using a new marketing strategy designed for that specific market. 25. Fred Wilson, a journalist, has a vast knowledge of electronic gadgets. His reviews of these products are highly regarded and trusted by others. What can Fred Wilson be regarded as? a. influencer b. laggard Name: Class: Date: Mock Final c. innovator d. relationship manager 26. During recent recessions, how have consumers shifted their buying patterns? a. by borrowing money to buy goods b. by increasing spending across the board c. by buying now in the belief that prices will rise later d. by purchasing basic products with low price tags 27. What is NOT a responsibility of a category manager? a. setting performance standards and measuring actual results against the standard b. finding growth opportunities c. staffing the national sales teams d. determining the marketing mix of the product assortment within the category 28. What is the difference between a trademark and a brand? a. A trademark gives the manufacturer a claim to exclusive legal protection. b. A trademark identifies the company that makes it. c. A trademark allows the product to be used in the global marketplace. d. A trademark is that part of a brand that can be vocalized. 29. Which term refers to the wide range of transactions taking place via Internet applications such as email and virtual shopping carts? a. webonomics b. e-business c. Web servicing d. digital transcription 30. What does a salesperson need to handle in a professional and informative manner when a potential customer expresses doubt or disagreement with the sales presentation? a. questions b. conflicts c. buyer concerns d. opposition 31. What is the process of qualifying a sales prospect? a. It is the task of ensuring that the prospect really is a potential customer. b. It involves gathering information about the prospect to make initial contact proceed more smoothly. c. It is used more frequently by retail salespersons than it is by wholesalers’ and manufacturers’ sales representatives. d. It involves making the initial contact with the prospect. 32. What are the moral standards of behaviour expected by society called? Name: Class: Date: Mock Final a. social responsibilities b. marketing concepts c. facilitating functions of marketing d. ethics 33. Which of the following is an example of scrambled merchandising? a. a grocery store carrying canned goods, fresh fish, tropical fruits, and bulk grains b. a jewellery store carrying rings, watches, TVs, electronic games, and DVDs c. a drug store carrying prescription drugs, over-the-counter medications, and health care items d. a shoe store carrying shoes, shoe polish, socks, and leather bags 34. Sally Myers, head of marketing at Sally’s Salon, serviced six new customers over the past two weeks. Through a feedback form, Sally learned that all of them had acted upon the opinions of their friends and family members. What did Sally encounter? a. transaction-based marketing b. sales orientation c. marketing myopia d. buzz marketing 35. How can sales managers best foster an ethical work environment? a. by closely monitoring sales representatives by recording phone calls b. by sending sales people to sensitivity training c. by making sure that all employees know what is expected of them d. by monitoring the competition’s ethical dilemmas 36. Strategic planning has a critical impact on a firm’s destiny. What does it provide to its decision makers? a. customer input b. individual goals c. departmental goals d. long-term direction 37. Which of the following is NOT considered to be a category killer? a. Best Buy electronics stores b. Walmart department stores c. Chapters bookstores d. Home Depot home improvement stores 38. What is the main reason why consumers rely on communities created by social media for their buying decisions? a. to gather relevant information about the functional strategies of companies b. to gather relevant insights about the fluctuation in stock prices c. to conduct research and share information d. to build partnerships with companies Name: Class: Date: Mock Final 39. What is developing a completely new product to take advantage of a unique foreign opportunity called? a. product development b. product commercialization c. product invention d. product origination 40. What does the term “product positioning” refers to? a. a low cost market entry strategy in which two or more firms represent one another's complementary yet non- competing products in the markets b. the process of developing entirely new products for new markets c. consumers' perceptions of a product's attributes, uses, quality, as well as advantages and disadvantages relative to competing brands d. the process of developing a trade dress for a new product 41. What is the strategy that seeks to increase sales of existing products in existing markets called? a. product development b. market innovation c. product diversification d. market penetration 42. Which statement best describes B2C digital marketing? a. B2C digital marketing involves online sale of services as much as physical goods. b. B2C transactions account for most of the digital marketing activity. c. B2C digital marketing facilitates transactions between organizations. d. Service providers prefer the B2B model to B2C as there is not enough scope for service transactions in B2C digital marketing. 43. In order for a marketer to operate efficiently in a foreign country, what must be in place and stable to facilitate trade? a. free trade agreement b. infrastructure c. tariffs d. labour force 44. Overall, what is happening to the population of Canada? a. It’s becoming younger, better educated, and more homogeneous. b. It’s becoming older, poorer, and less educated. c. It’s becoming older, more diverse, and more affluent. d. It’s becoming younger, better educated, and less affluent. 45. From the retailer point of view, which statement best describes a store’s exterior appearance, including architectural design, window displays, signs, and entryways? a. It is a major cost factor in the pricing of the goods sold by a store. b. It helps to identify the retailer and attract its target market. c. It generally has little effect on the retailer’s image. d. It should be different from one store of the same chain to another to provide Name: Class: Date: Mock Final variety. 46. What can lead to a damaging downward spiral, causing a freefall in business profits, lower returns on most investments, and widespread job layoffs? a. deflation b. lower interest rates c. inflation d. major federal government surplus 47. What is a brand name that has been given legal protection known as? a. patent b. copyright c. trademark d. royalty 48. What term refers to the numerical bar code system used to record product and price information? a. uniform serial number b. unitized product locator c. unique label identifier d. universal product code 49. Which piece of information would NOT be relevant to the precall planning process when selling to an organization? a. financial health of the organization b. identities of the buyers and their jobs c. previous employment history of the buyers d. knowledge base of the members of the staff 50. What is the purpose of a merchandise mart? a. to provide space for permanent showrooms and exhibits, which manufacturers rent to market their goods b. to gather buyers and sellers in one location and allow potential buyers to inspect merchandise before submitting competitive purchase offers c. to accept orders from customers and forward those orders to manufacturers that ship the goods directly to the customers d. to distribute physical or online catalogues to retail, business, and institutional customers Name: Class: Date: Mock Final Answer Key 1. True 2. False 3. True 4. True 5. False 6. True 7. True 8. True 9. True 10. False 11. True 12. False 13. True 14. False 15. False 16. d 17. c 18. c 19. d 20. a 21. c 22. d 23. a 24. d 25. a 26. d 27. c 28. a 29. b 30. c 31. a 32. d 33. b 34. d 35. c 36. d 37. b 38. c 39. c 40. c 41. d 42. a 43. b 44. c 45. b 46. a 47. c 48. d 49. c 50. a