Marketing Strategies
Exam Preparation Guide
Course Introduction
Marketing Strategies explores the principles and techniques organizations use to identify market opportunities, develop effective positioning, and implement tactics that drive customer engagement and business growth. The course covers the creation and evaluation of marketing plans, segmentation and targeting of markets, product and brand management, pricing strategies, distribution channels, and integrated promotional campaigns. Through real-world case studies and practical projects, students learn how to analyze competitors, understand consumer behavior, adapt to dynamic environments, and leverage digital tools to create comprehensive marketing strategies that achieve organizational objectives.
Recommended Textbook MKTG 11th Edition by Charles W. Lamb
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19 Chapters
1236 Verified Questions
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Page 2
Chapter 1: An Overview of Marketing
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Sample Questions
Q1) Which of the following is used in customer relationship management?
A)A sales orientation
B)A production orientation
C)Communicator valence
D)On-demand marketing
Answer: D
Q2) Which of the following statements is true of market-oriented personnel?
A)They tend to be inward looking and are internally focused.
B)They focus on selling what the organization makes.
C)They build short-term relationships with customers.
D)They derive their profits from an external focus.
Answer: D
Q3) Which of the following statements is true of customer relationship management?
A)It involves linking all processes of a company from its customers through its suppliers.
B)It tries to convince potential customers to buy, even if the seller knows that the customer and the product are mismatched.
C)It is used more by sales-oriented firms than market-oriented firms.
D)It is most extensively used by production-oriented firms.
Answer: A
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Page 3
Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) The best marketing tactic is to protect existing market share by reinvesting earnings in product improvement, better distribution, more promotion, and production efficiency.
A)True
B)False
Answer: True
Q2) Which of the following practices can help businesses gain a cost competitive advantage?
A)Using simplified production techniques
B)Using expensive raw materials
C)Customizing products with extra frills
D)Focusing on serving marginal customers
Answer: A
Q3) Unlike a cost competitive advantage, a sustainable competitive advantage:
A)is not attractive because of its durability.
B)cannot be copied by the competition.
C)lowers costs by removing frills.
D)does not offer any low-priced products.
Answer: B
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Chapter 3: Ethics and Social Responsibility
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Sample Questions
Q1) Jordon is a sales manager. He operates at the postconventional level of morality while making ethical decisions. In this case, which of the following statements is true?
A)He will be concerned about how he sees and judges himself over the long run.
B)He will be concerned about how people will view his decisions.
C)He will be calculating and self-centered while making decisions and will look for immediate benefits.
D)He will make decisions that are not beneficial for most people.
Answer: A
Q2) In the context of ethical theories, which of the following statements is true of moral relativism?
A)Moral activists believe that an act that is legally wrong is always ethically wrong.
B)It does not believe in absolute rules.
C)Moral relativists believe that the most beneficial choice for the most people is ethically correct.
D)It is a belief based on rules and individual obligations.
Answer: B
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Chapter 4: The Marketing Environment
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Sample Questions
Q1) Which of the following statements is true of the younger Millennials?
A)They are quick to change jobs if they are unsatisfied.
B)They graduated from college during the Great Recession.
C)They do not spend time surfing the Web or on social media.
D)They have difficulty finding jobs when they graduate.
Q2) Which of the following statements is true of a target market?
A)Environmental scanning is performed by firms in order to prevent changes in a target market.
B)Unlike uncontrollable variables, controllable variables do not affect a target market.
C)Uncontrollable elements continually evolve and create changes in a target market.
D)Managers can control the external environment that molds and reshapes a target market.
Q3) In today's age, a person's profession defines his or her lifestyle.
A)True
B)False
Q4) Discuss ways to market to the African American market in the U.S.
Q5) Compare the effect of inflation and recession on the economic environment of the United States.
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) Using a capital-intensive technology refers to using less equipment than labor in the production process.
A)True
B)False
Q2) Explain franchising.
Q3) Which of the following statements is a characteristic of dumping?
A)It refers to the active ownership of a foreign company or of overseas manufacturing or marketing facilities.
B)It refers to the sale of an exported product at a price lower than that charged for the same or a like product in the ''home'' market of the exporter.
C)It refers to a form of trade in which all or part of the payment for goods or services is in the form of other goods or services.
D)It refers to a system in which prices of different currencies move up and down based on the demand for and the supply of each currency.
Q4) Explain the four stages in which multinational corporations develop their businesses.
Q5) Explain the legal structures that affect international trade.
Q6) Discuss exports in the United States.
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Page 7
Chapter 6: Consumer Decision Making
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Sample Questions
Q1) Which of the following is an individual characteristic that influences a person's buying decisions?
A)Gender
B)Culture
C)Motivation
D)Learning
Q2) _____ is a process whereby a consumer notices certain stimuli and ignores others.
A)Stimulus generalization
B)Selective exposure
C)Cognitive dissonance
D)Selective retention
Q3) _____ occurs when consumers change information that conflicts with their feelings or beliefs.
A)Stimulus generalization
B)Selective distortion
C)Cognitive dissonance
D)Selective retention
Q4) How does marketing strategy differ based on the level of involvement associated with a product?
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Chapter 7: Business Marketing
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Sample Questions
Q1) Which of the following characteristics distinguishes business products from consumer products?
A)Physical form
B)Intended use
C)Distribution method
D)Price
Q2) The more digits in a North American Industry Classification System code, the less homogeneous a group will be.
A)True
B)False
Q3) In the context of business products, which of the following statements is true of major equipment?
A)It is marketed by local industrial distributors.
B)It is sold through a longer distribution channel than accessory equipment.
C)It is often custom designed for each customer according to requirements.
D)It is less expensive and shorter-lived than accessory equipment.
Q4) Explain strategic alliance and the factors that contribute to its long-term survival.
Q5) Discuss the importance of customer service in business marketing.
Q6) Explain the distribution structure followed in business markets.
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) With the personal and targeted nature of customer relationship management (CRM), consumers spend more time making purchase decisions.
A)True
B)False
Q2) Prisly Inc. is a multinational company that specializes in manufacturing and selling high-end cars. It launches a new car Gwen 2.0 that becomes highly successful in the market because of its cheap price and excellent specifications. However, this leads to a significant decline in the sales of Sanders Inc.'s other cars. This scenario exemplifies
A)segmentation
B)differentiation
C)cannibalization
D)personalization
Q3) _____ is market segmentation on the basis of personality, motives, lifestyles, and geodemographics.
A)Benefit segmentation
B)Family life cycle segmentation
C)Usage-rate segmentation
D)Psychographic segmentation
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Page 10
Chapter 9: Marketing Research
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Sample Questions
Q1) Which of the statements is true of management decision problems?
A)They are far less general than marketing research problems.
B)They must be broadly defined if the research effort is to be successful.
C)They tend to be much broader in scope than marketing research problems.
D)They tend to be information oriented.
Q2) Briefly discuss probability samples and nonprobability samples.
Q3) Which of the following is an example of an open-ended question?
A)Would you consider adopting children?
B)What do you think about the new ice-cream flavor?
C)Have you tried the new ice-cream flavor?
D)Do you want to have children?
Q4) The main advantage of primary data is that they:
A)are inexpensive to collect.
B)can answer specific research questions that secondary data cannot answer.
C)consist of data that are easily available to any interested party.
D)are already processed and analyzed.
Q5) In the context of customer relationship management, the use of big data analytics is limited to the collection of customer data.
A)True
B)False
Page 11
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Chapter 10: Product Concepts
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Sample Questions
Q1) Identify a true statement about global branding strategies.
A)A one-brand-name strategy is useful when a company markets mainly one product.
B)Using different brand names in different markets leads to greater identification of the product from market to market.
C)A one-brand-name strategy reduces the ease of coordinating promotion from market to market.
D)Using different brand names in different markets means that a company does not follow localization.
Q2) Remnants Perfumes is a premium, exotic women's fragrance. The manufacturers of Remnants Perfumes want to establish their products as specialty products. In this case, which of the following will be an objective of the manufacturers of Remnants Perfumes?
A)To employ mass advertising strategies
B)To increase the distribution network
C)To focus on establishing a brand name
D)To decrease the prices of the products
Q3) Each product item in the product mix may require a separate marketing strategy.
A)True
B)False
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Which of the following statements is true of the product life cycle (PLC)?
A)The PLC dictates the marketing strategy to be used for a product.
B)A product spends the same amount of time in the different stages of the life cycle.
C)The PLC for a product form is longer than the PLC for any one brand.
D)Changes in a product, its uses, its image, or its positioning do not affect its life cycle.
Q2) In the context of the new-product development process, which of the following is true of a new-product strategy?
A)It refrains from adopting ideas suggested by customers and competitors.
B)It is the last stage of the new-product development process.
C)It must be compatible with the objectives of the marketing department, the business unit, and the corporation.
D)It involves targeting existing products at new markets.
Q3) During the maturity stage of the product life cycle, new users can be added indefinitely.
A)True
B)False
Q4) Explain the differences between innovators and early adopters.
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Page 13
Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) A _____ is an announcement that promotes a program of a federal, state, or local government or of a nonprofit organization.
A)public service advertisement
B)commercial advertisement
C)retail advertisement
D)surrogate advertisement
Q2) Each part of a firm's service mix should make a different contribution to achieving its goals.
A)True
B)False
Q3) For services that are composed of multiple elements, the issue is whether pricing should be based on a "bundle" of elements or whether each element should be priced separately.
A)True
B)False
Q4) Unlike a commercial advertiser, the sponsor of a public service advertisement pays for the time and space.
A)True
B)False
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Chapter 13: Supply Chain Management and Marketing Channels
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Sample Questions
Q1) Magnira Inc., an equipment manufacturing company, designs precision cutting tools that can be used for various applications. A recent project required Magnira Inc. to work closely with a surgical tools manufacturing company to manufacture a stapler that staples closely, which would help ensure less traumatic procedures and quicker patient recoveries. This is an example of the:
A)product development and commercialization process.
B)supplier relationship management process.
C)customer service management process.
D)order fulfillment process.
Q2) Which of the following entails the logistical function of intermediaries in marketing channels?
A)Sorting, accumulation, consolidation and/or allocation of assets
B)Researching about channel members and consumers
C)Explaining a product's features, advantages, and benefits
D)Contacting prospective buyers to make them aware of existing products
Q3) _____ is a form of distribution aimed at maximum market coverage.
A)Narrow distribution
B)Intensive distribution
C)Selective distribution
D)Exclusive distribution
Page 15
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Chapter 14: Retailing
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Sample Questions
Q1) Determining a target market is optional while creating the retailing mix.
A)True
B)False
Q2) Service delivery can be improved by:
A)implementing a no-return policy after sale.
B)maximizing wait times for customers.
C)increasing the costs of services provided.
D)choosing the right distribution channel.
Q3) Strategic retailing goals typically focus on:
A)reducing costs of goods sold.
B)increasing costs of goods sold.
C)reducing return on assets or equity.
D)not using a retailing mix.
Q4) Unlike supermarkets, convenience stores:
A)charge lower prices.
B)carry a much more limited line of high-turnover convenience goods.
C)enable customers to shop without visiting a physical store location.
D)offer no service to customers.
Q5) What is brand cannibalization? Why is it dangerous to the retailer?
Q6) Briefly explain the process of defining a target market.
Page 16
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Chapter 15: Marketing Communications
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Sample Questions
Q1) Earned media is controlled by the brand but continuously keeps the customer and his or her needs in mind as it creates videos, blog posts, contests, photos, and other pieces of content.
A)True
B)False
Q2) Which of the following statements is a benefit of advertising?
A)It has a very low cost per contact.
B)It facilitates consumer empowerment.
C)It provides opportunity for immediate feedback from consumers.
D)It creates a long-term, committed relationship between a salesperson and a customer.
Q3) Briefly explain the integrated marketing communications (IMC) concept. What are the reasons for its growing popularity?
Q4) Which of the following statements is a characteristic of sales promotion?
A)It is a long-run tool used by marketers.
B)It complements advertising by yielding faster sales responses.
C)It is allotted less marketing money than advertising.
D)It uses personal selling, advertising, and public relations.
Q5) Explain the different stages of the product life cycle.
Q6) Explain interpersonal and mass communication.
Page 17
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Chapter 16: Advertising, Public Relations, and Sales Promotion
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Sample Questions
Q1) Discuss the effects of advertising on consumers.
Q2) A trade allowance is a price reduction offered by retailers to customers who are buying homogeneous shopping goods.
A)True
B)False
Q3) Intermediaries receive push money as a bonus for pushing the manufacturer's brand through the distribution channel.
A)True
B)False
Q4) Online advertising includes search engine marketing, display advertising, social media advertising, e-mail marketing, and mobile marketing.
A)True
B)False
Q5) If an advertiser wants to enhance the sales of a specific good or service, institutional advertising should be used.
A)True
B)False
Q6) Explain how online games are used for advertising.
Page 18
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Chapter 17: Personal Selling and Sales Management
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Sample Questions
Q1) In personal selling, costs of promoting a product or service can be controlled by:
A)promoting a product to both qualified and non-qualified prospects.
B)promoting undifferentiated sales messages toward prospective consumers.
C)purchasing advertising and sales promotion in large amounts.
D)adjusting the size of the sales force in one-person increments.
Q2) Maggie's Apparel Inc. manufactures apparel for men and women. It calls on other retailers to sell its products. The salespeople at Maggie's Apparel also travel to its customers' locations to finalize sales deals. In this scenario, the salespeople at Maggie's Apparel are _____.
A)business-focused salespeople
B)consumer-focused salespeople
C)opinion leaders
D)late adopters
Q3) Relationship selling is more often used in selling situations for consumer goods.
A)True
B)False
Q4) Write a note on customer relationship management.
Q5) Differentiate between traditional personal selling and relationship selling.
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Chapter 18: Social Media and Marketing
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Sample Questions
Q1) Explain the role of social media in marketing.
Q2) Which of the following treats location-based micronetworking as a game?
A)Facebook
B)Twitter
C)WordPress
D)Foursquare
Q3) As long as the ads are not overly intrusive, most users opt to play free versions of games with ads over paid versions that do not have ads.
A)True
B)False
Q4) Social news sites combine the fun of social networking with the utility of location-based global positioning system technology.
A)True
B)False
Q5) Which of the following processes is used in social media monitoring?
A)Personal selling
B)Crowdsourcing
C)Sentiment analysis
D)Brandjacking
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Chapter 19: Pricing Concepts
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Sample Questions
Q1) _____ is a pricing policy whereby a firm charges a relatively low price for a product when it is first rolled out as a way to reach the mass market.
A)Penetration pricing
B)Price skimming
C)Price discrimination
D)Status quo pricing
Q2) Unlike break-even pricing, markup pricing uses complicated concepts of cost.
A)True
B)False
Q3) Briefly explain how distribution strategy acts as a determinant of price.
Q4) Consumers are more likely to perceive the value of a product to be less than its cost if:
A)the product's price is set too high in their minds.
B)the product's manufacturer gains very little profit from the product.
C)the product has an inelastic demand.
D)the product's demand and supply attain the state of price equilibrium.
Q5) Discuss the role of price in the evaluation of product alternatives.
Q6) Discuss with examples the factors that affect elasticity of demand.
Q7) Define consumer penalty and give reasons for imposing consumer penalties.
Q8) Discuss how shopping bots help consumers with their purchase decisions.
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