Marketing Planning and Analysis Exam Preparation Guide
Course Introduction
Marketing Planning and Analysis introduces students to the strategic process of developing effective marketing plans grounded in data-driven decision-making. The course covers key concepts such as market environment analysis, segmentation, targeting, positioning, and setting marketing objectives. Emphasis is placed on interpreting market research, assessing competition, forecasting demand, and allocating resources efficiently. Through case studies and hands-on projects, students hone their analytical skills to design and evaluate marketing strategies that align with organizational goals and respond to dynamic market conditions.
Recommended Textbook
Marketing Strategy 5th Edition by O. C. Ferrell
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12 Chapters
296 Verified Questions
296 Flashcards
Source URL: https://quizplus.com/study-set/1090
Page 2
Chapter 1: Marketing in Todays Economy
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25 Verified Questions
25 Flashcards
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Sample Questions
Q1) Among the fundamental changes to marketing and business practice in today's economy is the dramatic increase in the availability of information. This increase in information has created a shift in the balance of power in the supply chain. Who now holds most of the power in today's economy?
A) retailers
B) wholesalers
C) customers
D) manufacturers
E) market research firms
Answer: C
Q2) A product that provides the utmost in convenience is said to offer exceptional:
A) time and place utility
B) place and possession utility
C) time and possession utility
D) form and time utility
E) form and place utility
Answer: A
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Chapter 2: Strategic Marketing Planning
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25 Verified Questions
25 Flashcards
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Sample Questions
Q1) Sears at one time lost sight of its mission and jumped into markets that did not fit its strengths. This occurred because Sears lacked a mission statement with the appropriate:
A) focus
B) strategic fit
C) stability
D) profitability
E) width
Answer: E
Q2) In a marketing plan, the executive summary should be a complete but concise overview of the entire marketing plan because:
A) the executive summary is the most important part of the plan.
B) the executive summary is the first part of the marketing plan to be written.
C) most readers of a marketing plan are busy and value condensed information.
D) the executive summary is the least read part of the marketing plan.
E) the executive summary does not provide any quantitative information.
Answer: C
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Chapter 3: Marketing Ethics and Social Responsibility in Strategic Planning
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22 Verified Questions
22 Flashcards
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Sample Questions
Q1) Why is the connection between marketing ethics and leadership so important in nurturing a strong ethical culture?
A) Employees look to the leader to enforce the ethical code of conduct.
B) Employees expect the leader to punish unethical behaviors.
C) Employees look to the leader to ensure that the firm is in legal compliance.
D) Employees look to the leader as a model of acceptable behavior.
E) Employees expect the leader to clearly specify in writing the high-risk activities in the firm's daily operations.
Answer: D
Q2) Research has found that corporate codes of ethics should contain six highly desirable core values or principles. Which of the following IS NOT one of these core values?
A) Trustworthiness
B) Respect
C) Legality
D) Fairness
E) Citizenship
Answer: C
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Chapter 4: Collecting and Analyzing Marketing Information
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Sample Questions
Q1) Identify and explain each element of the 5W model for customer analysis. What role does this analysis play in an overall situation analysis?
Q2) Microsoft is interested in customers' perceptions of Windows 7, its new PC operating system. Since the research goal is rather specific, Microsoft should conduct its own _____ research by asking customers to complete an online questionnaire.
A) secondary
B) primary
C) qualitative
D) observation
E) experimental
Q3) In the 5W model of customer analysis, what is the primary emphasis of the "What" question?
A) Assessing how customers consume and dispose of products
B) Determining the relevant characteristics that define markets
C) Assessing how purchases vary across different distribution outlets
D) Identifying the basic need-satisfying benefits provided by the firm's products
E) Identifying the situational influences that affect the customer buying process
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6
Chapter 5: Developing Competitive Advantage and Strategic Focus
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24 Verified Questions
24 Flashcards
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Sample Questions
Q1) With regard to Blue Ocean Strategy, the Four-Actions Framework is designed to challenge traditional assumptions about marketing strategy by asking four key questions. Which of the following IS NOT one of these questions?
A) Which factors should be reduced well below the industry's standard?
B) Which factors should be raised well above the industry's standard?
C) Which factors should be created that the industry has never offered?
D) Which factors that the industry takes for granted should be eliminated?
E) Which factors used throughout the industry should be copied?
Q2) Identify and explain the major characteristics of marketing goals.
Q3) All of the following are benefits of SWOT analysis EXCEPT:
A) It is simple to use.
B) Its structured nature ensures that data and information are correctly categorized.
C) It promotes managerial collaboration.
D) It can synthesize and integrate diverse information.
E) It can reduce costs.
Q4) Discuss each of the three competitive advantage strategies (operational excellence, product leadership, customer intimacy) and explain why most firms pursue only one of these strategies.
Page 7
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Chapter 6: Customers, Segmentation, and Target Marketing
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25 Flashcards
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Sample Questions
Q1) One of the most successful and well-known tools of _____ segmentation is VALS developed by Strategic Business Insights.
A) psychographic
B) geographic
C) demographic
D) geoclustering
E) emotional
Q2) The main advantage of _____ is specialization, as it allows the firm to focus its resources toward understanding and serving a single segment.
A) focused marketing
B) unidimensional marketing
C) mass marketing
D) multisegment marketing
E) market concentration
Q3) Explain the five different target marketing strategies and give examples of firms that use each one. Also, discuss how firms might approach the targeting of noncustomers.
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Chapter 7: Product Strategy
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Sample Questions
Q1) If you purchase a notebook computer from Dell, you will note several brand insignias on the outside, such as Dell, Intel, and Microsoft Windows. What type of branding strategy does this example represent?
A) co-branding
B) brand licensing
C) co-marketing
D) brand affinity
E) brand collaboration
Q2) Without a doubt, the most important tool of product differentiation is:
A) the product's image.
B) the brand.
C) the product's features.
D) perceptual mapping.
E) the product's price.
Q3) Compare and contrast brand loyalty and brand equity, as well as how these concepts are related. Must a brand possess high brand loyalty in order to possess high brand equity? Explain.
Q4) Discuss the benefits associated with offering a large portfolio of products. What are some of the key issues involved in managing the product portfolio?
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Chapter 8: Pricing Strategy
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Sample Questions
Q1) Although break-even analysis and cost-plus pricing are important tools in setting prices based on the firm's cost structure, they should never be the driving force behind pricing strategy. Why?
A) because firms want to make a profit, not just break even
B) because customer expectations are far more important in setting prices
C) because prices should be based on demand, not costs
D) because different firms have different cost structures
E) because competitor's prices are far more important in setting prices
Q2) Identify and discuss reasons why firms become so infatuated with pricing.
Q3) From the buyer's perspective, two key issues determine pricing strategy for most firms: perceived value and:
A) competitors' prices.
B) the firm's cost structure.
C) market demand.
D) economic conditions.
E) price sensitivity.
Q4) Discuss the challenges associated with pricing services. How do service firms use yield management systems to balance price with revenue and maximize capacity utilization?
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Chapter 9: Distribution and Supply Chain Management
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Sample Questions
Q1) Ensuring the availability of products in the right place in the right quantities at the right time in a cost efficient manner is the main focus of:
A) physical distribution.
B) marketing networks.
C) supply chain management.
D) channel management.
E) network management.
Q2) In terms of marketing channel functions, which of the following statements describes the concept of discrepancy of quantity?
A) Manufacturers make one or a few product(s); customers need variety and assortment.
B) Channels must make products available in convenient locations.
C) Channels add value to products by standardizing the exchange process.
D) Channels must provide for the storage of products for future purchase and use.
E) Manufacturers produce large quantities; customers usually want only one item.
Q3) Discuss the growth and importance of outsourcing in today's economy. What are the driving factors or themes that lead firms to outsource business functions, including channel functions?
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11
Chapter 10: Integrated Marketing Communications
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25 Flashcards
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Sample Questions
Q1) _____ is paid personal communication that attempts to inform customers about products and persuade them to purchase those products.
A) Personal selling
B) Sales promotion
C) Publicity
D) Public relations
E) Advertising
Q2) Why is promotion based on creativity alone likely to waste valuable marketing resources?
A) Because truly creative promotion is too expensive
B) Because the majority of promotional efforts do not create results in the short term
C) Because promotion that is based solely on creativity is no better than one-on-one personal selling
D) Because most potential customers simply ignore promotion
E) All of the above are reasons.
Q3) Identify and discuss the issues and challenges involved in measuring the effectiveness of an advertising campaign. Is it relatively easier to measure effectiveness before or after the campaign has been implemented? Explain.
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Chapter 11: Marketing Implementation and Control
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25 Flashcards
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Sample Questions
Q1) Marketing implementation is often problematic, as marketing plans are usually devised by _____, while implementation is the responsibility of _____.
A) production; marketing
B) marketing; production
C) the CEO; middle management
D) top management; frontline employees
E) finance; marketing
Q2) Identify and discuss the four approaches to marketing implementation and explain the various advantages and disadvantages of each approach.
Q3) Identifying specific marketing activities, determining the time required to complete each activity, and organizing marketing activities into the proper sequence are examples of the steps involved in creating a(n):
A) marketing plan.
B) control framework.
C) strategic activities list.
D) strategic calendar.
E) implementation timetable.
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Chapter 12: Developing and Maintaining Long Term
Customer Relationships
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25 Flashcards
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Sample Questions
Q1) With respect to the different components of the total product offering, supplemental products play the important role of:
A) meeting basic customer needs.
B) delivering the main core benefits of the product offering.
C) adding symbolic benefits to the product offering.
D) delivering the minimum level of quality demanded by customers.
E) differentiating the product offering from competing products.
Q2) In which of the following situations would a customer become more tolerable of weak or poor product performance?
A) when the customer is in a hurry
B) when the customer can easily make shopping comparisons among competing products
C) when the purchase situation is highly involving
D) when the customer has fewer product alternatives
E) when the purchase is for a special occasion
Q3) Explain the overall objective of customer relationship management and the stages that customers are pulled through in the process. For each stage, identify the marketing goals during the stage as well as examples of strategies that may be used.
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