Marketing Strategy and Planning Test Preparation
Course Introduction
Marketing Strategy and Planning explores the principles, frameworks, and tools necessary for developing effective marketing strategies and actionable plans within competitive business environments. The course emphasizes the analysis of internal and external market forces, segmentation, targeting, and positioning, as well as the integration of product, price, place, and promotion strategies (the marketing mix) to achieve organizational objectives. Through case studies and real-world scenarios, students learn how to conduct market analyses, set marketing objectives, allocate resources, and measure the effectiveness of marketing programs, ultimately preparing them to create comprehensive marketing plans that drive business success.
Recommended Textbook
Marketing Management An Asian Perspective 3rd Edition by Philip Kotler
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20 Chapters
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2999 Flashcards
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Chapter 1: Marketing: Managing Profitable Customer Relationships
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) When the economy tightens,customer loyalty and customer retention become ________ for marketers.
A) more important
B) less important
C) impossible
D) long-term but not short-term goals
E) short-term but not long-term goals
Answer: A
Q2) You are an assistant marketing director for a firm in a market with many low-margin customers.What type of relationship would be most profitable for you to develop with these customers?
A) full partnerships
B) basic relationships
C) basic partnerships
D) club programs
E) selective relationships
Answer: B
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Chapter 2: Company and Marketing Strategy: Partnering to Build
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150 Flashcards
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Sample Questions
Q1) Which of the following involves looking at whether a company's basic strategies are well matched to its opportunities?
A) operating control
B) marketing control
C) strategic control
D) ROMI
E) portfolio analysis
Answer: C
Q2) Marketing control entails the following steps in order: setting goals,________,evaluating performance,and ________.
A) evaluating goals; measuring performance
B) achieving goals; measuring performance
C) taking corrective action; measuring performance
D) measuring performance; taking corrective action
E) taking corrective action; following up
Answer: D
Q3) Into what quadrant of the product/market expansion grid would a modified or new product fall?
Answer: It would fall into the product development quadrant.
Page 4
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Chapter 3: The Marketing Environment
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Sample Questions
Q1) The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.
A) raw material market
B) natural environment
C) endangered environment
D) green movement
E) factors of production
Answer: B
Q2) You are directed to study the demographic,economic,natural,technological,political,and cultural factors that are larger societal forces affecting your company.What are you studying?
A) the macroenvironment
B) the microenvironment
C) the internal environment
D) the marketing mix
E) the global environment
Answer: A
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Page 5
Chapter 4: Managing Marketing Information
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Sample Questions
Q1) The most important issue facing online researchers is the lack of a broad cross section of consumers who have access to the Internet.
A)True
B)False
Q2) Before the research problems and objectives have been defined,researchers must determine the exact information needed and present it to management.
A)True
B)False
Q3) Did Jason use any particular type(s)of marketing intelligence in this scenario?
Q4) Compare and contrast closed-ended questions and open-ended questions for gathering data.
Q5) For primary data to be useful to marketers,it must be relevant,current,unbiased,and
A) descriptive
B) accurate
C) inexpensive
D) collected before secondary data
E) experimental
Q6) Discuss the advantages/benefits of each of the contact methods.
Page 6
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Chapter 5: Consumer Markets and Consumer Buyer
Behavior
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Sample Questions
Q1) Explain how marketers may be able to reduce post-purchase cognitive dissonance.
Q2) People forget much that they learn.They tend to retain information that supports their attitudes and beliefs.This is called ________.
A) selective attention
B) selective retention
C) selective attitude
D) selective distortion
E) perceptual vigilance
Q3) Many companies,enlist everyday consumers who are enthusiastic about their brands to become ________,brand ambassadors who share their passion for a company's products with large circles of friends and acquaintances in return for insider knowledge and other rewards.
A) leading adopters
B) brand evangelists
C) direct marketers
D) direct sellers
E) innovators
Q4) Explain how selective distortion is somewhat controllable by a marketer.
Q6) Identify and describe the stages in the adoption process. Page 7
Q5) Explain why buying roles within a family may no longer be regarded as typical.
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Page 8
Chapter 6: Business Markets and Business Buyer Behavior
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Sample Questions
Q1) A(n)________ controls the flow of information to others in the buying center.
A) user
B) influencer
C) buyer
D) gatekeeper
E) decider
Q2) The main differences between business and consumer markets include market structure and demand,the nature of the buying unit,and the types of decisions.
A)True
B)False
Q3) In one way or another,most large companies sell to ________.
A) consumers
B) other organizations
C) employees
D) not-for-profit companies
E) the service sector
Q4) What type of non-economic criteria influence government buying?
Q5) How can marketers influence business buyers who are in the problem recognition stage?
Q6) Explain the advantages of systems selling.
Page 9
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Chapter 7: Customer-Driven Marketing Strategy: Creating
Value for Target Customers
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Sample Questions
Q1) Successful niche marketing is most dependent on a firm's ________ and its
A) promotions strategy; services
B) individual relationships with customers; positioning
C) superior products; value network partners
D) greater knowledge of customers' needs; special reputation
E) competitive advantage in comparison to mass-market companies; affordable pricing
Q2) Ho Lee Mills mass produces an all-purpose floor cleaner,mass distributes it and mass promotes it.This firm uses ________ marketing.
A) segmented
B) undifferentiated
C) nontraditional
D) differentiated
E) mass customization
Q3) In what ways might a marketer be able to gain competitive advantage through channel differentiation?
Q4) Explain the four major steps in designing a customer-driven marketing strategy.
Q5) Explain how market variability impacts the choice of a target-marketing strategy.
Page 10
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Chapter 8: Products,Services,and Brands: Building Customer Value
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Sample Questions
Q1) All of the following are a manufacturer's sponsorship options for a product EXCEPT
A) manufacturer's brand
B) multi-brands
C) private brand
D) licensed brand
E) co-branding
Q2) ________ are those products purchased for further processing or for use in conducting a business.
A) Unsought products
B) Specialty products
C) Shopping products
D) Industrial products
E) Accessories
Q3) "I love Singapore" is an example of ________.
A) corporate image advertising
B) person marketing
C) organization marketing
D) social advertising
E) place marketing
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Chapter 9: New Product Development and Product
Life-Cycle Strategies
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Sample Questions
Q1) The advantages of standardizing an international product include all of the following EXCEPT ________.
A) the development of a consistent image
B) lower product design costs
C) the adaptation of products to different markets
D) decreased manufacturing costs
E) lower marketing costs
Q2) At what level(s)of analysis can the product life cycle be applied?
Q3) Explain concept testing.
Q4) When sales of a product falter during the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product,or modify the market.
A)True
B)False
Q5) Briefly describe the steps in the new-product development process.
Q6) Provide the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.
Page 12
Q7) Standardization helps a company to develop a consistent worldwide image.What else does it do?
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Chapter 10: Pricing Products: Understanding and Capturing
Customer Value
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Sample Questions
Q1) Product costs set a floor to the price; consumer perceptions of the product's value set the ceiling.
A)True
B)False
Q2) Measuring ________ can be difficult.A company might conduct surveys or experiments to test this in the different products it offers.
A) price elasticity
B) the demand curve
C) perceived value
D) break-even pricing
E) quantity supplied
Q3) A break-even chart shows the total cost and total revenue expected at various sales volume levels.
A)True
B)False
Q4) What does price elasticity reveal about a product?
Q5) Demand and consumer value perceptions set the floor for prices.
A)True B)False
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Chapter 11: Pricing Products: Pricing Strategies
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Sample Questions
Q1) A company sets not a single price,but rather a ________ that covers different items in its line that change over time as products move through their life cycles.
A) pricing by-product
B) pricing structure
C) pricing loop
D) pricing cycle
E) pricing bundle
Q2) Which of the following is NOT an effective action that a company can take to combat a competitor's price cut on a product?
A) reduce price
B) raise perceived value
C) improve quality and increase price
D) improve quality and decrease price
E) launch a low-price "fighter brand"
Q3) For what types of products might marketers use market-skimming pricing?
Q4) Discuss under what conditions a company might consider using price cuts or price increases.
Q5) Explain two different ways a consumer might view a price cut.
Q6) Why is predatory pricing considered illegal?
Page 14
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Chapter 12: Marketing Channels: Delivering Customer Value
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Sample Questions
Q1) ________ logistics concerns the moving of broken,unwanted,or excess products.
A) Inbound
B) Reverse
C) Outbound
D) Vertical
E) Horizontal
Q2) In using air transportation and then expedited truck carriers to deliver specialty items to customers outside of a designated delivery range,Shanghai MaLing Meats is using ________.
A) all of its supply chain
B) all of its value delivery network
C) direct marketing channels
D) intermodal transportation
E) a horizontal marketing system
Q3) Which of the following is NOT an area of responsibility for a logistics manager?
A) information systems
B) warehousing
C) promotions
D) inventory
E) purchasing
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Chapter 13: Retailing and Wholesaling
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Sample Questions
Q1) Warehouse clubs appeal almost exclusively to low-income consumers seeking bargains.
A)True
B)False
Q2) Which of the following is most critical to Pinpu Wood's success?
A) place
B) price
C) differentiation
D) store atmosphere
E) services mix
Q3) In a retailer cooperative,independent retailers contract with each other to set up a central buying operation and conduct joint promotional efforts.
A)True
B)False
Q4) Which of the following is NOT one of a wholesaler's channel functions?
A) financing
B) risk bearing
C) providing market information
D) off-price retailing
E) bulk-breaking
Page 16
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Chapter 14: Communicating Customer Value: Integrated Marketing
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Sample Questions
Q1) Glasis is a type of paint made specifically for use on cars.An ad in Top Gear magazine advising consumers to request their body shops use Glasis paint is an example of how a company uses ________.
A) word-of-mouth influence
B) public relations
C) buzz marketing
D) a push strategy
E) a pull strategy
Q2) A consumer is reading a magazine with an advertisement,but is distracted from reading the advertisement or its key points.This unplanned static or distortion during the communication process is called ________.
A) noise
B) distraction
C) feedback
D) response
E) decoding
Q3) The four major communication functions are encoding,decoding,response,and noise.
A)True
B)False
Page 17
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Chapter 15: Advertising and Public Relations
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Sample Questions
Q1) Slice of life,lifestyle,and personality symbol are all execution styles used in public relations.
A)True
B)False
Q2) Explain why different types of messages may require different media.
Q3) ________ use several tools,including the news,speeches,corporate identity materials,and special events.
A) Advertising agencies
B) Advertising specialists
C) Public relations professionals
D) Media buyers
E) Media planners
Q4) Soaring media costs,focused target marketing strategies,and the growing array of new media have increased the importance of ________.
A) indirect marketing
B) competitive parity
C) humor in advertisements
D) branded entertainment
E) media planning
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Chapter 16: Personal Selling and Sales Promotion
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Sample Questions
Q1) Which step in the sales process is most focused on ensuring customer satisfaction and repeat business?
A) proper approach
B) professional presentation
C) handling objections
D) qualifying prospects
E) follow-up
Q2) __________ listen to their customers,assess customer needs,and organize the company's efforts to solve customer problems.
A) marketers
B) missionaries
C) salespeople
D) quality control managers
E) all of the above
Q3) Some corporations have no sales force,selling instead through sales agents,brokers,or manufacturer's reps.
A)True
B)False
Q4) Compare the four types of compensation plans available to salespeople.
Page 19
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Chapter 17: Direct and Online Marketing: Building Direct Customer Relationships
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Sample Questions
Q1) Marketers view mobile phones as the next big marketing medium for all of the following reasons EXCEPT which one?
A) More consumers are using their cell phones for text messaging, surfing the Web, and watching videos.
B) Unlike telemarketing, mobile phone marketing is initially appealing to most cell phone users.
C) Mobile phones are very popular with the highly desirable 18-to-34-year-old demographic.
D) Mobile phone users can respond instantly to time-sensitive offers.
E) Most consumers always have their cell phones with them.
Q2) What types of services do B2B marketers offer online?
Q3) ________ online marketing sites are online exchanges in which consumers search out sellers,learn about their offers,and initiate purchases.
A) B2C
B) B2B
C) C2C
D) C2B
E) B2R
Q4) List and briefly describe the four major online marketing domains.
Page 20
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Chapter 18: Creating Competitive Advantage
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Sample Questions
Q1) Discuss the four evolving company orientations.Which orientation is considered most successful and why?
Q2) Due to differences in available data,business-to-business marketers find it more difficult than business-to-consumer marketers to estimate competitors' market shares.
A)True
B)False
Q3) By trying to be good at all of the value disciplines,a company usually ends up being best at none.
A)True
B)False
Q4) When customers are willing to pay a premium to get precisely what they want and a company responds quickly to satisfy customer needs,the company has achieved what is called ________.
A) customer intimacy
B) employee intimacy
C) operational excellence
D) promotional intimacy
E) marketing intelligence
Q5) Discuss the functions and goals of a competitive intelligence system.
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Chapter 19: The Global Marketplace
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Sample Questions
Q1) Explain the backlash against American globalization.
Q2) International divisions can be organized as geographical organizations,world product groups,or national groups.
A)True
B)False
Q3) The simplest way to enter a foreign market is through ________.
A) joint venturing
B) direct investment
C) exporting
D) joint ownership
E) contract manufacturing
Q4) If Sharp & Trimmer allowed an Asian company to produce and market razors and trimmers carrying the company's brand in exchange for a royalty,Sharp & Trimmer would be using which market entry strategy?
A) exporting
B) franchising
C) licensing
D) contract manufacturing
E) joint ownership
Q5) Discuss direct and indirect exporting.What are two advantages of exporting?
Page 22
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Chapter 20: Sustainable Marketing: Social Responsibility and Ethics
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Sample Questions
Q1) Marketers have little to gain from high-pressure selling.
A)True
B)False
Q2) In societal marketing,the ideal goal for companies is to turn all of their products into ________ ones.
A) salutary
B) desirable
C) pleasing
D) durable
E) serviceable
Q3) The ________ is specifically focused on the future welfare of consumers.
A) strategic planning concept
B) sustainable marketing concept
C) societal marketing concept
D) consumer business concept
E) marketing concept
Q4) What is involved in pollution prevention? Give at least one example.
Q5) Compare and contrast the four types of products in the societal classification of products.Provide examples of each.
Q6) How do marketers respond to charges of "commercial noise"? Page 23
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