Marketing Strategy Exam Bank
Course Introduction
Marketing Strategy explores the development and implementation of plans that enable organizations to achieve competitive advantage in dynamic markets. The course covers key concepts such as market analysis, segmentation, targeting, positioning, brand management, and the marketing mix (product, price, place, and promotion). Students learn how to assess market opportunities, analyze competitors, and design comprehensive strategies that align with company objectives. Through case studies and practical applications, the course emphasizes strategic decision-making and the role of marketing in long-term business success.
Recommended Textbook
Essentials of Marketing Management 1st Edition by Greg Marshall
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14 Chapters
1694 Verified Questions
1694 Flashcards
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Page 2
Chapter 1: Marketing in Todays Global Business Milieu
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) (Little m)marketing includes ____________.
A) Marketing strategy
B) Product designing
C) Advertising
D) Production
E) Philosophy
Answer: C
Q2) Which of the following is less likely to be considered as a condition to be fulfilled for an exchange to take place?
A) Communication and delivery capabilities
B) Minimum requirement of two parties
C) Free will to accept or reject the exchange offer
D) Desirability to deal with parties
E) Assurance of exchange
Answer: E
Q3) Marketing is relevant only to people in the organization that work directly in the marketing department.
A)True
B)False
Answer: False
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Chapter 2: Elements of Marketing Strategy and Planning
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123 Verified Questions
123 Flashcards
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Sample Questions
Q1) Which of the following is NOT true about marketing plans?
A) They are a means of gathering input from stakeholders throughout the firm
B) They are essential for the firm's success
C) They are a rallying point for creativity
D) They are well articulated
E) They are rarely changed in response to market pressures
Answer: E
Q2) Starbucks original marketing strategy called for little or no price-based promotion.For a while,however,the company offered breakfast and a loyalty card program as a response to market pressures.This kind of contingency planning is part of ______.
A) Marketing control
B) Marketing metrics
C) Marketing management
D) Marketing strategy
E) Marketing planning
Answer: A
Q3) What is meant by market-driven strategic planning?
Answer: The process at the corporate of SBU level of using resources and functional areas of the firm toward a central purpose around the customer.
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Chapter 3: Perspectives on Crm and Marketing Metrics
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121 Verified Questions
121 Flashcards
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Sample Questions
Q1) All of the following are advantages of CRM-driven one-to-one marketing EXCEPT?
A) Reduced promotional costs.
B) Improved targeting of specific customers.
C) Improved capability to track the effectiveness of a given promotional campaign.
D) Increased effectiveness in competing on value-adding properties.
E) A longer product development cycle.
Answer: E
Q2) ____________ is most likely NOT considered a customer touchpoint.
A) Point-of-sale systems
B) Follow-up calls
C) Records from direct selling
D) Customer complaints to call centers
E) Managerial assessment of customer loyalty
Answer: E
Q3) Define customer satisfaction.
Answer: Customer satisfaction means the level of liking an individual harbors for an offering-that is,to what level is the offering meeting or exceeding the customer's expectations.
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5
Chapter 4: Managing Marketing Information
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) The marketing managers of Sean's Smoothies need to conduct some exploratory research to help them develop a survey for some descriptive research in the future.The best data collection technique for this research would be ________ because the firm has time and is worried that talking to multiple customers simultaneously may taint the results.
A) Focus groups
B) In-depth interviews
C) Experiments
D) Surveys
E) Observation
Q2) Apex Jerseys,a manufacturer of sports apparel and sporting equipment,has experienced a sharp drop in sales over the last quarter.The marketing manager has asked the research department to investigate this alarming development.The first step taken by the researchers in their investigation should be to ___________.
A) Design a questionnaire to gather pertinent data
B) Decide which statistical procedure to use
C) Determine sources of internal secondary data
D) Identify the sample of customers to survey
E) Formulate a specific research problem
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6
Chapter 5: Understanding Customers:
Business-To-Consumer Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) _______ is defined as learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.
A) Perception
B) Motivation
C) Attitude
D) Values
E) Expectations
Q2) What are the two important elements of nonverbal communication?
A) Eye contact and voice modulation
B) Power distance and time orientation
C) Language and accent
D) Values and beliefs
E) Time and space
Q3) What are cultural values? Provide examples of different cultural values.
Q4) An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.Attitudes are seldom if ever neutral.
A)True
B)False
Q5) What is a subculture? Provide examples of different subcultures.
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Chapter 6: Understanding Customers:
Business-To-Business Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) NAICS codes now include __________.
A) USA
B) USA and Canada
C) USA, Canada, and Mexico
D) All of the Americas, North and South
E) All NATO nations
Q2) NAICS codes are a classification of businesses that ___________.
A) List the primary output of the business
B) Each company gets only one code
C) Are used across the US, Mexico, and Canada
D) Defines 20 major business sectors
E) All of the above
Q3) B2B transactions have been growing at a phenomenal rate.Online B2B sales worldwide is now in excess of ______________.
A) 10 trillion dollars
B) 5 trillion dollars
C) 3 trillion dollars
D) 1 trillion dollars
E) None of the above
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Q4) Why is geographic concentration an important part of some B2B relationships?
Chapter 7: Segmentation,target Marketing,positioning
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) When Bernard,a marketer,says that a segment has sufficient size,he means
A) The segment has a return-on-invest which is very close to the expected value
B) The segment is too large to be worth considering
C) Positive return on investment is expected from the segment
D) The segment has many customers in it
E) The segment has at least one customer in it
Q2) Positioning relies upon the communication of one or more sources of value to customers in a way that the customer can easily make the connection between
A) The cost of the product and the quality
B) Various marketing mix variables
C) The customer's needs and wants and what the product has to offer
D) The brand of the product and its quality
E) None of the above
Q3) In case of consumer markets,there is often a more defined universe of potential customers.
A)True
B)False
Q4) Define market segmentation.
Page 9
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Chapter 8: The Product Experience: Product Strategy and Building the Brand
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) The first phase of the maturity stage of the PLC is characterized as having
A) Growth but at a rate lower than the growth stage
B) No growth
C) Loss of sales
D) An increase in sales but at a decreasing rate
E) Negative net growth
Q2) What are the implications of the dimensions of brand equity for marketing managers?
Q3) The marketing manager for ABC Appliances is working on the warranty for their new line of dishwashers.She is considering a 2-year total warranty based on costs,but the competition offers a 4-year total warranty and a 5-year mechanical warranty.She is worried that the shorter warranty she is planning will make customers think that ABC's dishwashers are inferior in quality.She should think about the _______ of the warranty.
A) Competitive advantage
B) Costs and benefits
C) Message
D) Product differentiation
E) Persuasiveness
Page 10
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Chapter 9: The Product Experience: New-Product
Development and Service
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135 Verified Questions
135 Flashcards
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Sample Questions
Q1) An individual moves through stages before adopting a product.The interest stage is characterized as ________.
A) The stage where customers find they have a passion for the product
B) Having the most significance in the new product adoption process
C) Where consumers seek out added information about a product for further evaluation
D) The stage where customers feel, see, and touch the product
E) The stage where the consumers come to know about the product
Q2) A cross-functional team at Electronic Toys has been assembled to work on the product definition for a concept that has passed through the screening process.What three objectives should the team focus on?
Q3) _______ are often considered a more realistic picture of product growth.
A) New purchases
B) Revenues
C) Unit sales
D) Repeat purchases
E) Replacement purchases
Q4) Why is the early success of a new product launch so important? Give an example.
Q5) What is the biggest challenge small companies face in new product development?
Q6) How have cell phones been repositioned since they were introduced?
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Chapter 10: Managing Pricing Decisions
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120 Flashcards
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Sample Questions
Q1) Kyle and Kristin are lawyers working in conjunction with the Federal Trade Commission.They handle hundreds of cases a year that have to do with illegal pricing strategies.Kyle and Kristin are working on a paper and would like you to participate.They explain to you that there are four main kinds of illegal pricing and then ask you to share an experience or an example related to one of the illegal pricing strategies.What do you tell them?
Q2) Geoff works at an Aspen ski shop.He has just gotten a shipment of new snowboards and realizes that the company has priced its snowboards higher than the rest of the boards in Geoff's shop.Since Geoff took a marketing class in college,he knows that the company is using _____________.
A) Product line pricing
B) Captive pricing
C) Price bundling
D) Reference pricing
E) Prestige pricing
Q3) Customers always find it more agreeable when a firm raises a price than when it reduces a price.
A)True
B)False
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Page 12
Chapter 11: Managing Marketing Channels and the Supply Chain
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Janice has a supplier that will sell her printers,but only if she agrees to buy the replacement ink cartridges from that supplier.This is demonstrating a(n)____________.
A) Tying contract
B) Exclusive territory
C) Exclusive dealing
D) Intermediary contract
E) None of the above
Q2) Effective transportation management is one way that many firms can keep a lid on costs while also optimizing delivery options for customers.
A)True
B)False
Q3) A push strategy doesn't mean a manufacturer wouldn't engage in any channel incentives,but rather that the incentives would likely be greatly reduced versus a pull strategy.
A)True
B)False
Q4) What are the five important sources of channel power that French and Raven have identified?
Page 13
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Chapter 12: Points of Customer Interface: Bricks and Clicks
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Julie has been a stay-at-home mom for the past 15 years.Prior to becoming a mom,Julie was a District Manager at a successful retail company in Atlanta.Julie has just joined your company and is excited to be working again,but you realize her ideas are a bit dated.When she starts talking about the customer interface,you know you need to fill her in on some changes.How has the customer interface changed?
Q2) Tallulah has started making sandwiches and selling them on-campus to other students.Her sandwich business has gotten so popular she is finding it hard to sell the sandwiches and get to her classes.Tallulah would like some way to sell her sandwiches without having to hire a salesperson.What popular form of retailing would help Tallulah?
Q3) What are the differences between non-store retailers and other retailers?
Q4) Betty loves shopping at Rita's Round-Up because she knows she will always find the lowest price.Rita's Round-Up uses a(n)_________________ strategy.
A) Product development
B) Exclusive distribution
C) Everyday low pricing (EDLP)
D) High/low pricing
E) Market development
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14
Chapter 13: Integrated Marketing Communications:
Promotional Strategy, advertisig
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Angus Promotions,Inc.is just launching its screen-printing business.Which is the best promotional goal for their promotion campaign and why?
Q2) __________________ is NOT one of the examples of the seven broad categories of advertising media.
A) Radio
B) Magazines
C) Outdoor
D) Direct mail
E) Fax
Q3) Promotion mix decisions are NOT dependent on _______________________.
A) The nature of the offering
B) Stage of the offering in the product life cycle
C) Price of the product
D) Nature of the market
E) Available budget
Q4) Buzz is limited to current and potential customers.
A)True
B)False
Page 15
Q5) Name and define three of the Common Approaches to Advertising Execution.
Q6) What promotion mix elements should be the focus of a pull strategy?
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Page 16
Chapter 14: Integrated Marketing Communications:
Personal Selling, direct Market
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) _____________ is an example of a non-technology communication selling activity.
A) Enhance language and overall communication skills
B) Email
C) Create useful company Web page content
D) Database management
E) Leaving voicemail messages
Q2) The number of salespeople the company will need for direct selling activities is determined by dividing the _____________ by the number of hours available per salesperson.
Q3) Viral marketing is considered a traditional advertising tool.
A)True
B)False
Q4) A particular characteristic that helps meet the customer's needs is a(n)____________________.
A) Advantage
B) Awareness
C) Benefit
D) Brand
E) Value proposition
Q5) List the 4 elements of a direct marketing campaign. Page 17
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