Advanced Marketing Final
Test Solutions
Course Introduction
Advanced Marketing delves into complex marketing concepts and strategic decision-making processes vital for competing in today's dynamic business environment. This course covers topics such as market segmentation and targeting, positioning strategies, integrated marketing communications, digital marketing analytics, customer relationship management, and brand management. Through case studies, practical projects, and analytical tools, students learn to develop and implement marketing strategies that drive organizational growth and respond to evolving consumer behaviors and technological advancements. The course is designed to enhance critical thinking, problem-solving, and leadership skills for future marketing professionals.
Recommended Textbook
Strategic Marketing 10th Edition by
David Cravens
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15 Chapters
524 Verified Questions
524 Flashcards
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Page 2
Chapter 1: New Challenges for Market Driven Strategy
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35 Verified Questions
35 Flashcards
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Sample Questions
Q1) The outside-in organizational processes connect the organization to the external environment,providing market feedback and forging external relationships.
A)True
B)False
Answer: True
Q2) Getting all business functions working together to provide superior customer value is referred to as _____.
A) customer relationship management
B) competitor intelligence
C) cross-functional coordination
D) centralization
Answer: C
Q3) The purpose of strategic positioning is to locate the people (or organizations) that management wishes to serve in the product-market.
A)True
B)False
Answer: False
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3
Chapter 2: Markets and Competitive Space
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35 Verified Questions
35 Flashcards
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Sample Questions
Q1) Which of the following is the final step in analyzing the competition?
A) Anticipating actions by competitors
B) Evaluating key competitors
C) Identifying and evaluating potential competitors
D) Identifying key competitors
Answer: C
Q2) When modularization occurs,products become commodities.
A)True
B)False
Answer: True
Q3) Customer function considers the role or purpose of the good or service.
A)True
B)False
Answer: True
Q4) Which of the following is the final phase of competition?
A) Partnering of companies with the objective of controlling industry standards
B) Companies competing in identifying product concepts
C) Competitors concentrating on market share for end products and profits
D) Firms focusing on building competencies
Answer: C
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Chapter 3: Strategic Market Segmentation
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35 Flashcards
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Sample Questions
Q1) _____ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics.
A) Flighting
B) Benchmarking
C) Market segmentation
D) Product differentiation
Answer: C
Q2) What is market segmentation?
Answer: A segment is a possible market target for an organization competing in the market.Market segmentation is the process of placing the buyers in a product-market into subgroups so that the members of each segment display similar responsiveness to a particular positioning strategy.The opportunity for segmentation occurs when differences in buyers' demand (response) functions allow market demand to be divided into segments,each with a distinct demand function.Segmentation offers a company an opportunity to better match its products and capabilities to buyers' value requirements.Customer satisfaction can be improved by providing a value offering that matches the value proposition considered most important by the buyer in a segment.
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Chapter 4: Strategic Customer Management: Systems,
ethics, and Social
Responsibility
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35 Verified Questions
35 Flashcards
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Sample Questions
Q1) Which of the following is the final step in developing a CRM strategy?
A) Gaining an organization-wide commitment to CRM strategy
B) Forming a cross-functional CRM project team for decision analysis and actions
C) Developing and defining the CRM strategy to guide management process
D) Conducting a business needs analysis concerning customer relationships
Q2) The company-wide level of CRM offers a single view of the customer across all of the organization's access channels to the customer.
A)True
B)False
Q3) CRM supports a customer-responsive strategy,which gains competitive advantage when it:
A) demonstrates the customer's trustworthiness and reliability to the company.
B) delivers superior customer value by personalizing the interaction between the customer and the company.
C) tightens connections with the competitors.
D) achieves the coordination of customer capabilities around the organization.
Q4) What are the different CRM levels?
Q5) What are the major steps in developing a CRM strategy?
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Q6) What information should a database created through CRM technology contain?
Chapter 5: Capabilities for Learning About Customers and Markets
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34 Flashcards
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Sample Questions
Q1) The market sensing process of _____ gives detailed attention to rivals' tactics and strategies to develop understanding of their plans and capabilities.
A) building open-minded inquiry
B) analyzing competitors' actions
C) listening to front-line employees
D) searching for latent customer needs
Q2) Knowledge intensity identifies both market risk and new opportunities for growth.
A)True
B)False
Q3) The market sensing process of _____ includes building a culture and process around continuous curiosity and new ideas.
A) scanning the periphery of the market
B) encouraging experimentation
C) listening to front-line employees
D) searching for latent customer needs
Q4) What are the activities included in the learning processes of market-oriented companies?
Q5) List the market-sensing processes used by market-driven companies.
Page 7
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Chapter 6: Market Targeting and Strategic Positioning
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Sample Questions
Q1) The _____ positioning concept is used to position products that provide sensory pleasure,variety,and/or cognitive stimulation.
A) material
B) functional
C) experiential
D) symbolic
Q2) Which of the following is true about the life cycle of a typical product?
A) Profits are highest in the emerging phase of the product-market.
B) Total profits increase after the product reaches the maturity stage.
C) Sales are highest during the growth period.
D) Profits fall off before sales as the product reaches maturity.
Q3) Briefly explain the four life cycle stages of the product-market environment.
Q4) The _____ decision identifies the people or organizations in a product-market toward which a firm directs its positioning strategy.
A) market targeting
B) employer branding
C) domain selecting
D) strategic sifting
Q5) Identify and discuss the three possible targeting strategies in growth markets.
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Chapter 7: Strategic Relationships
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35 Flashcards
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Sample Questions
Q1) What features should a successful disengagement plan for a strategic alliance contain?
Q2) Which of the following relationships would be considered an internal partnership?
A) Relationships between functional units and employees of a firm
B) Relationships between a firm and a competitor
C) Relationships between a firm and its supplier
D) Relationships between a firm and its customers
Q3) Value chain relationships provide access to consumer and organizational end-users.
A)True
B)False
Q4) Alliances are agreements between two or more firms to establish a separate entity. A)True B)False
Q5) Describe the different forms of organizational relationships.
Q6) Mention the factors that create a need to establish cooperative strategic relationships between organizations.
Q7) What are the advantages and disadvantages of outsourcing firm activities?
Page 9
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Chapter 8: Innovation and New Product Strategy
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Sample Questions
Q1) _____ innovation occurs when products are radically new and the values created are substantial.
A) Substantial
B) Transformational
C) Incremental
D) Nondescript
Q2) A new-product screening involves testing if the product is commercially viable.
A)True
B)False
Q3) Product specifications describe what the product will do rather than how it should be designed.
A)True
B)False
Q4) The _____ is a form of innovation through collaborative relationships where anybody can propose problems,offer solutions,and decide which solutions to use.
A) elite circle
B) innovation mall
C) innovation community
D) consortium
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Chapter 9: Strategic Brand Management
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35 Flashcards
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Sample Questions
Q1) If a brand is used for the firm as a whole,then it is referred to as a _____.
A) trade name
B) corporation
C) trademark
D) patent
Q2) A _____ is intended to meet the needs of buyers,and it may consist of objects,services,organizations,places,people,and ideas.
A) product
B) brand
C) resource
D) trademark
Q3) Discuss the state of counterfeit brands,the ethical issues,the involvement of law enforcement,and the role of the internet in counterfeiting.
Q4) Combination branding places a brand name on one or more lines of related products representing different product categories.
A)True
B)False
Q5) What functions do brands serve for sellers?
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Chapter 10: Value Chain Strategy
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35 Flashcards
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Sample Questions
Q1) If a company decides to distribute its products through one retailer or dealer in the trading area,then the company is following a(n) _____ distribution strategy.
A) intensive
B) selective
C) exclusive
D) moderate
Q2) Which of the following is the final step in selecting the distribution strategy?
A) Selecting the channel configuration
B) Determining the type of channel arrangement
C) Deciding the intensity of distribution
D) Identifying appropriate distribution strategy
Q3) A conventional distribution channel offers little opportunity for control by a member firm,yet there is a lot of flexibility in entering and exiting from the channel.
A)True
B)False
Q4) Agile supply chains require long-term partnership with suppliers.
A)True
B)False
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Page 12
Chapter 11: Pricing Strategy
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35 Flashcards
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Sample Questions
Q1) _____ is the percentage change in the quantity sold of a brand when the price changes,divided by the percentage change in price.
A) Price distribution
B) Price band
C) Price point
D) Price elasticity
Q2) _____ pricing methods consider estimated market response to alternative prices.
A) Cost-oriented
B) Supply-oriented
C) Competition-oriented
D) Demand-oriented
Q3) Customer value mapping estimates are based on the differentiated benefits that a customer receives from a product.
A)True
B)False
Q4) Price strategy is always related to competition whether firms use a higher,lower,or equal price.
A)True
B)False
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Chapter 12: Promotion, advertising, and Sales Promotion Strategies
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35 Flashcards
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Sample Questions
Q1) Coupons are extensively used as a promotional activity to target value chain members.
A)True
B)False
Q2) Which of the following promotion strategies is most appropriate when buyers' information needs are high?
A) Advertising-driven
B) Sales promotion-driven
C) Personal selling-driven
D) Generic
Q3) Which of the following is a disadvantage of the percent of sales method of setting promotional budgets?
A) It heavily relies on the experience and judgment of the marketing team.
B) It can result in too much spending on promotion when sales are high and not enough when sales are low.
C) Its budgeting method is directly guided by how much competitors spend.
D) It does not base its budgeting on past expenditure patterns.
Q4) List the activities involved in designing an organization's promotion strategy.
Q5) Identify the advantages and disadvantages of advertising.
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Chapter 13: Sales, digital, and Direct Marketing Strategies
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Sample Questions
Q1) Which of the following types of networks is most likely to be present at a kiosk for customers to use?
A) Internet
B) Intraweb
C) Extranet
D) Intranet
Q2) _____ selling involves obtaining sales from first-time buyers,who may be one-time purchasers or repeat buyers.
A) Missionary
B) Trade selling
C) New business
D) Consultative
Q3) List the activities that make up the selling process.
Q4) Sales quotas are used to state the management's expected sales results.
A)True
B)False
Q5) What are the major initiatives of a salesforce strategy?
Q6) An important part of deciding the personal selling strategy is choice of the alternative channels to end-user customers.Explain the issues involved.
Page 15
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Chapter 14: Designing Market-Driven Organizations
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35 Flashcards
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Sample Questions
Q1) Which of the following is an appropriate usage context for a transactional marketing organizational form?
A) Tasks that are repetitive, easily assessed, with no specialized investment required
B) Tasks that are repetitive, easily assessed, and requiring specialized investment
C) Tasks that are infrequent, difficult to assess, requiring highly specialized investment
D) Tasks that are nonroutine, difficult to assess, requiring little specialized investment
Q2) In traditional organizational structures,units were either within the organization and closely connected to other units,or they were outside the organization and not connected at all.
A)True
B)False
Q3) A key characteristic of new organizations is an emphasis on managing organizational process,rather than a primary emphasis on structure.
A)True
B)False
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Chapter 15: Strategic Marketing Implementation and Control
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Sample Questions
Q1) Discuss factors that influence the implementation of a marketing strategy.
Q2) The second step in marketing evaluation and control is determining performance metrics and standards.
A)True
B)False
Q3) Discuss how organizational designs help implement a strategic marketing plan.
Q4) The choice of the most relevant marketing metrics should be made in the light of the need to:
A) track performance relative to alliances.
B) track performance relative to suppliers.
C) track performance over investment capabilities.
D) measure performance relative to strategy.
Q5) Which of the following is the strategic marketing audit used for?
A) To translate broadly defined marketing strategy into very specific actions
B) To provide a means to link performance evaluation to strategy implementation
C) To ensure that activities in one area do not interfere with activities in another area
D) To initiate a formal strategic marketing planning program
Q6) Explain the dimensions of the marketing planning process.
Q7) What are the core tasks of a CMO?
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