ASAMs Final Exam Fall 2024 Sample Questions PDF

ASAMS Final Exam Fall 2024 Sample Questions with Answers 1. What is a “target market”? A) The group of customers a business aims to serve B) All people interested in a product C) A location where a business sells its products D) Competitors of a business 2. Which of the following best...

ASAMS Final Exam Fall 2024 Sample Questions with Answers 1. What is a “target market”? A) The group of customers a business aims to serve B) All people interested in a product C) A location where a business sells its products D) Competitors of a business 2. Which of the following best defines “branding”? A) Creating a unique name, symbol, or design to identify a product B) Setting a price for a product C) Developing a product feature D) Advertising a product 3. Market positioning is primarily concerned with: A) The location of a business B) Setting a high price for premium products C) How a product is perceived in the customer’s mind D) The marketing budget for advertising 4. A company’s mission statement typically includes: A) Detailed product specifications B) A list of competitors C) The company's purpose and core values D) Instructions for marketing campaigns 5. In B2B (Business-to-Business) marketing, the primary focus is often on: A) The emotional appeal of a product B) Building long-term relationships and value 1  C) Displaying ads in social media D) Reducing product quality to increase profit 6. A major advantage of using social media for marketing is: A) It guarantees increased profits B) It requires no budget or planning C) It allows direct engagement with a large audience D) It only targets older demographics 7. When a company sets prices low to capture market share quickly, this is known as: A) Prestige Pricing B) Penetration Pricing C) Value-Based Pricing D) Psychological Pricing 8. Which pricing strategy involves setting a high price initially and then lowering it over time as the market evolves? A) Penetration Pricing B) Price Skimming C) Cost-Plus Pricing D) Bundle Pricing 9. In which pricing strategy does a company charge a very high price for a new and innovative product? A) Price Skimming B) Penetration Pricing C) Cost-Plus Pricing D) Discount Pricing 10. Value-based pricing is primarily focused on: A) Covering production costs 2  B) Pricing according to competitor prices C) The perceived value of the product to the customer D) Achieving a rapid market share 11. Which of the following is NOT a common basis for segmentation? A) Demographic B) Geographic C) Competitor-based D) Psychographic 12. Dividing a market based on variables like age, gender, income, and education level is known as: A) Behavioral Segmentation B) Geographic Segmentation C) Demographic Segmentation D) Psychographic Segmentation 13. Dividing a market based on how customers use a product, such as frequency of purchase, is an example of: A) Geographic Segmentation B) Psychographic Segmentation C) Behavioral Segmentation D) Demographic Segmentation 14. Which type of segmentation is focused on grouping customers based on their attitudes, opinions, and interests? A) Behavioral Segmentation B) Geographic Segmentation C) Psychographic Segmentation D) Demographic Segmentation 3 15. A brand targeting fitness enthusiasts and health-conscious consumers is most likely using which segmentation? A) Demographic Segmentation B) Geographic Segmentation C) Psychographic Segmentation D) Behavioral Segmentation 16. Which stage of the product life cycle is typically associated with the highest levels of competition? A) Introduction B) Growth C) Maturity D) Decline 17. Which of the following is an example of a convenience product? A) A luxury watch B) A grocery item like bread C) A house D) A vacation package 18. In marketing, a product can be defined as: A) Only tangible goods that satisfy customer needs B) A physical item or service that satisfies a need or want C) A physical good without any accompanying service D) An intangible concept with no actual value 19. What are the stages of the Product Life Cycle (PLC)? A) Development, Introduction, Growth, Stability, Termination B) Creation, Production, Consumption, Discontinuation C) Introduction, Growth, Maturity, Decline D) Planning, Designing, Testing, Selling 4 20. Product mix refers to: A) The range of products offered by a company B) The variations of a single product line C) The marketing strategy used for product promotion D) The unique features added to differentiate a product 21. A product line refers to: A) All the products a company sells B) A group of related products marketed by a company C) The process of developing new products D) A plan for distributing products 22. Which of the following is an example of a convenience product? A) Designer clothing B) Toothpaste C) Laptop D) House 23. Brand equity refers to: A) The total revenue a brand generates in a fiscal year B) The value a brand adds to a product beyond its functional benefits C) The physical assets a brand owns D) The cost of manufacturing branded products 24. Which of the following is an example of brand loyalty? A) A customer who frequently switches brands for better deals B) A customer who buys a product based on price alone C) A customer who consistently purchases the same brand despite other available options D) A customer who is unaware of the brand name 5 25. When a brand uses its name to introduce a new product in a different category, it is called: A) Brand Licensing B) Brand Extension C) Co-Branding D) Rebranding 26. The Nike swoosh is an example of a: A) Brand name B) Brand slogan C) Brand logo D) Brand personality 27. A private label brand is: A) A product developed and owned by a retailer B) A high-end brand with premium pricing C) A brand licensed to other companies D) A globally recognized brand 28. Which of the following is a key benefit of strong brand loyalty? A) High production costs B) Greater customer retention and repeat purchases C) Reduced need for brand differentiation D) Limited brand awareness 29. Which of the following is a direct distribution channel? A) Manufacturer → Wholesaler → Retailer → Consumer B) Manufacturer → Retailer → Consumer C) Manufacturer → Consumer D) Wholesaler → Retailer → Consumer 6 30. Selective distribution involves: A) Using a few selected intermediaries to sell products in certain areas B) Offering products only online C) Selling products through all available outlets D) Using only direct channels to reach consumers 31. The main advantage of direct distribution is: A) Lower costs and increased control over the distribution process B) Increased product availability across different regions C) Easier product differentiation from competitors D) Lower marketing expenses 32. Which of the following is NOT a type of distribution channel? A) Direct distribution B) Intensive distribution C) Indirect distribution D) Exclusive distribution 33. Supply chain management is the process of: A) Setting prices for products B) Coordinating the flow of goods, information, and finances in the supply chain C) Creating promotional materials for products D) Designing product packaging 34. Which of the following is NOT a typical basis for demographic segmentation? A) Age B) Gender C) Lifestyle D) Income 7 35. Which segmentation strategy would be most appropriate for a company selling luxury cars? A) Behavioral segmentation B) Geographic segmentation C) Demographic segmentation D) Psychographic segmentation 36. A target market is: A) A single product developed for all customers B) The specific group of customers a company aims to reach C) The most expensive segment in a market D) All potential customers in a market 37. A niche marketing strategy involves: A) Targeting a very broad market with a single product B) Ignoring differences between customer segments C) Focusing on a small, specific segment within a market D) Using demographic segmentation exclusively 38. Which of the following describes a differentiated targeting strategy? A) Targeting all customers with a uniform marketing mix B) Selecting a single market segment and ignoring others C) Developing separate marketing mixes for each chosen segment D) Ignoring market segments and focusing on one-to-one marketing 39. The promotional mix includes all the following EXCEPT: A) Advertising B) Sales promotion C) Pricing D) Public relations 8 40. Trade promotions are primarily targeted at: A) End consumers B) Retailers and wholesalers C) The general public D) International customers only 41. Which of the following best describes sales promotion? A) Paid, non-personal communication about a product B) Face-to-face interaction with the customer C) Short-term incentives to encourage the purchase or sale of a product D) Communication designed to build long-term brand equity 42. Which of the following is NOT an example of direct marketing? A) Email marketing campaigns B) Social media advertisements C) Telemarketing calls D) Catalog distribution 43. Buzz marketing is a form of promotion that relies on: A) Traditional television ads B) Paid advertisements in magazines C) Word-of-mouth or viral marketing to create excitement about a product D) One-on-one sales presentations 44. A two-way communication model is characterized by: A) Information flowing only from the sender to the receiver B) A feedback loop that allows for interaction between the sender and receiver C) The use of multiple communication channels simultaneously D) The absence of audience involvement 9 45. Emotional appeals in marketing communication are designed to: A) Provide factual information about a product B) Connect with the audience on a personal level to elicit feelings C) Avoid influencing consumer behavior D) Promote only luxury products 46. Advertising differs from other forms of marketing communication in that it is: A) Usually unpaid B) Always requires direct interaction with customers C) Paid, non-personal communication aimed at a mass audience D) Limited to online platforms only 47. Social media as a communication tool in marketing is effective because: A) It provides one-way communication only B) It allows for real-time interaction and feedback from consumers C) It is not suitable for brand promotion D) It limits audience engagement 10