Market Analysis and Planning
Exam Materials
Course Introduction
Market Analysis and Planning explores the essential concepts and tools required for understanding market environments and developing effective marketing strategies. Students will learn how to evaluate market trends, analyze consumer behavior, assess competitors, and interpret industry data to inform business decisions. Emphasis is placed on segmenting markets, targeting appropriate audiences, and positioning products or services for maximum impact. The course culminates in the creation of comprehensive marketing plans that integrate analytical insights and strategic objectives, preparing students to address real-world business challenges.
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) Synergies highlight competencies,resources,and capabilities that drive efficiency and effectiveness in the business.
A)True
B)False Answer: True
Q2) Superior customer value results from a very favorable use experience of the customer compared to expectations of the customer and the value offerings of competitors.
A)True
B)False Answer: True
Q3) Pricing is an example of an outside-in process.
A)True
B)False Answer: False
Q4) Customer linking is an example of an outside-in process.
A)True
B)False Answer: True
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Chapter 2: Markets and Competitive Space
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Sample Questions
Q1) In the final phase of competition,companies involve in partnering with the objective of controlling industry standards.
A)True
B)False
Answer: False
Q2) _____ refers to the expected sales for a defined product-market during a specified time period.
A) Market potential
B) Sales forecast
C) Market share
D) Modularization
Answer: B
Q3) 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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Sample Questions
Q1) Explain the goal of strategic marketing segmentation.
Answer: The goal of strategic marketing segmentation is to support processes whereby products are designed and developed around the needs of different types of purchaser to offer superior customer value,and then to identify the mechanisms by which that value can be delivered.This requires segmenting markets in ways that reflect how customers actually live their lives and the jobs that they need to get done.
Q2) Which of the following is a segmentation variable measuring buyers' needs and preferences?
A) Quality of the product
B) Importance of purchase
C) Geographic location of buyers
D) Size of purchase
Answer: A
Q3) The term "market niche" refers to the largest segment of buyers in a specific market.
A)True
B)False
Answer: False
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Page 5
Chapter 4: Strategic Customer Management: Systems,
ethics, and Social
Responsibility
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Sample Questions
Q1) Which of the following information should be present in a database created by CRM technology?
A) Channels of distribution
B) Company contacts with its distributors
C) Response to marketing stimuli
D) Information on supplier quality
Q2) The sum of CLV for all the customers of a firm is termed as business case.
A)True
B)False
Q3) Which of the following CRM levels provides a strategic focus for CRM?
A) Field level
B) Company-wide level
C) Functional level
D) Customer-facing level
Q4) 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
Q5) What is customer lifetime value? How is it calculated?
Q6) What information should a database created through CRM technology contain? Page 6
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Page 7
Chapter 5: Capabilities for Learning About Customers and Markets
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34 Flashcards
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Sample Questions
Q1) _____ is both a culture and a process that consists of information acquisition,broad information dissemination,and shared diagnosis leading to coordinated action.
A) Market liquidity
B) Market valuation
C) Market capitalization
D) Market orientation
Q2) The market sensing process of _____ includes finding discontent through dialogue,observation,and engagement with clients.
A) building open-minded inquiry
B) analyzing competitors' actions
C) listening to front-line employees
D) searching for latent customer needs
Q3) _____ is a key capability of the market-driven organization,concerned with the ability of organizations to continuously learn about their markets,and acts as an antecedent to market orientation.
A) Market penetration
B) Market capitalization
C) Market sensing
D) Market segmentation
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Chapter 6: Market Targeting and Strategic Positioning
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Sample Questions
Q1) Doubtful positioning occurs when frequent changes and contradictory messages confuse customers regarding the positioning of the brand.
A)True
B)False
Q2) The total sales and profits of a product will decline after it reaches the maturity stage.
A)True
B)False
Q3) 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
Q4) Product specialization involves offering buyers a product differentiated from competitors' products.
A)True
B)False
Q5) Identify and discuss the three possible targeting strategies in growth markets.
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Chapter 7: Strategic Relationships
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Sample Questions
Q1) _____ consists of "building a complex product or process from smaller subsystems that can be designed independently yet function together as a whole."
A) Sifting
B) Modularity
C) Scaffolding
D) Encoding
Q2) Which of the following is considered as an end-use customer of a firm?
A) Competitor
B) Supplier
C) Distributor
D) Consumer
Q3) An organization that primarily competes through its relationships with other organizations to deliver value to end-users is referred to as a _____.
A) memory organization
B) knowledge organization
C) horizontal organization
D) hollow organization
Q4) Describe the different forms of organizational relationships.
Q5) What are the advantages and disadvantages of outsourcing firm activities?
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Chapter 8: Innovation and New Product Strategy
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Sample Questions
Q1) New products that provide improved performance or greater perceived value (or lower cost) are called _____ innovations.
A) transformational
B) substantial
C) nondescript
D)incremental
Q2) Explain the importance of concept evaluation in new-product planning.
Q3) Which of the following are examples of quick-build products?
A) Sporting goods, furniture, tools
B) Software, cellular phones
C) Pharmaceuticals, space systems
D) Airplanes, jet engines, automobiles
Q4) Products that are significantly new and create important value for customers are called _____ innovations.
A) transformational
B) incremental
C) substantial
D) nondescript
Q5) What is proactive cannibalization and what is the strategic logic of this concept?
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Chapter 9: Strategic Brand Management
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Sample Questions
Q1) _____ management is normally assigned to the chief executive of the strategic business unit,the corporate level of an organization,or a team of top executives.
A) Product/brand
B) Product group/marketing
C) Product portfolio
D) Market-driven
Q2) Which of the following is the first step in tracking brand performance?
A) Identifying problem products
B) Selecting method(s) for evaluation
C) Deciding how to resolve the problem
D) Establishing the performance objectives
Q3) Which of the following brand leveraging strategies involves the sale of a firm's brand name to another company for use on a noncompeting product?
A) Line extension
B) Brand extension
C) Co-branding
D) Licensing
Q4) List the measures that Aaker proposes to capture all relevant aspects of brand equity.
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Chapter 10: Value Chain Strategy
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Sample Questions
Q1) Large producers with extensive capabilities and resources have a lot of flexibility in choosing intermediaries.
A)True
B)False
Q2) If one retailer or dealer in the trading area distributes the product,then management is following a selective distribution strategy.
A)True
B)False
Q3) What is channel migration? List the issues to be considered when opting for migration.
Q4) Which of the following factors favors direct distribution by the manufacturer?
A) Simple product/application
B) Large number of geographically concentrated buyers
C) Opportunity for competitive advantage
D) Small and frequent purchases
Q5) Relationships between the conventional channel participants are rather informal and the members are not closely coordinated.
A)True
B)False
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Chapter 11: Pricing Strategy
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35 Flashcards
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Sample Questions
Q1) Reverse auction pricing involves sellers bidding for organizational buyers' purchases.
A)True
B)False
Q2) Give an account of the impact of emerging markets on pricing.
Q3) Lowering prices generally eliminates potential price wars.
A)True
B)False
Q4) Which of the following distribution approaches is most likely to call for more competitive pricing?
A) Exclusive
B) Selective
C) Intensive
D) Narrow
Q5) A low-active pricing strategy:
A) emphasizes nonprice competitive factors.
B) is mainly used to gain margins in small market targets.
C) is most effective for discount retailers.
D) is an attractive strategy when competition for market target is high.
Q6) What are the steps in selecting a pricing strategy?
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Chapter 12: Promotion, advertising, and Sales Promotion Strategies
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Sample Questions
Q1) The fragmentation of many consumer markets is driving significant amounts of advertising spending from traditional mass media to more focused narrowcast media.
A)True
B)False
Q2) The final step in developing an advertising strategy involves evaluating its effectiveness.
A)True
B)False
Q3) Which of the following is the first step in developing a sales promotion strategy?
A) Setting specific promotion objectives
B) Defining the communications task(s) to be accomplished
C) Evaluating the relative cost-effectiveness of various methods
D) Coordinating the content and the timing with other activities
Q4) Which of the following is a disadvantage of advertising?
A) It has high cost per exposure.
B) It has fixed messages for the duration of an exposure.
C) It does not allow much creativity in message design.
D) It provides low control of message content.
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Chapter 13: Sales, digital, and Direct Marketing Strategies
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Sample Questions
Q1) List the activities that make up the selling process.
Q2) Which of the following activities does a selling process include?
A) Advertising the product
B) Training the salespeople
C) Prospecting for suppliers
D) Presenting the sales message
Q3) Which of the following sales organization designs can be adopted when customer needs are similar and there is a complex range of products offered?
A) Geography-driven
B) Market-driven
C) Product-driven
D) Product/market-driven
Q4) The final step in a salesforce strategy is designing the sales organizations.
A)True
B)False
Q5) Which of the following is an advantage of direct marketing?
A) Sufficient content support in direct-response advertising
B) Timing contact can be managed and personalized
C) Negative image factors are non-existent
D) Shipping and postal rates tend to decrease over time
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Chapter 14: Designing Market-Driven Organizations
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Sample Questions
Q1) The market-focused organizational design is often used when a single product or a closely related line is marketed to one market target.
A)True
B)False
Q2) Which of the following is the first stage in aligning the organization with the market?
A) Aligning customer-based units with customers
B) Using integrating mechanisms such as segment managers
C) Improving alignment through informal lateral integration
D) Integrating functions like global account coordinators and market segment specialists
Q3) _____ organizational design is used when a business unit serves more than one target and customer considerations are an important factor in the design of the marketing organization.
A) Product-focused
B) Functional
C) Market-focused
D) Matrix
Q4) Explain the importance of organizational agility and flexibility.
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Chapter 15: Strategic Marketing Implementation and Control
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Sample Questions
Q1) The analytical dimension of marketing planning process is concerned with the organizational structure in which planning is carried out,along with the associated information resources and corporate culture.
A)True
B)False
Q2) The _____ approach allows consideration of specific activities which will accomplish the objective,but also formally includes an assessment of the strategy component across all aspects of the business unit at the same time.
A) vertical assessment
B) balanced scorecard
C) strategic marketing audit
D) benchmarking
Q3) Explain the dimensions of the marketing planning process.
Q4) Which of the following marketing planning process dimensions is concerned with techniques,procedures,systems,and planning models?
A) Analytical process dimension
B) Cognitiveprocess dimension
C) Organizational process dimension
D) Behavioral process dimension
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