Marketing Strategy Exam Bank
Course Introduction
Marketing Strategy explores the foundational principles and advanced concepts necessary to develop and implement effective marketing plans in todays competitive business environment. The course covers key topics such as market analysis, segmentation, targeting, positioning, and the creation of value propositions. Students learn to assess market opportunities, analyze consumer behavior, and integrate product, pricing, promotion, and distribution decisions to achieve organizational objectives. Through case studies, real-world examples, and strategic planning exercises, students gain the analytical tools and strategic mindset needed to design sustainable marketing strategies that drive organizational success and support long-term growth.
Recommended Textbook
Marketing 17th International Edition by Hult and Ferrell
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21 Chapters
3942 Verified Questions
3942 Flashcards
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Page 2
Chapter 1: An Overview of Strategic Marketing
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164 Verified Questions
164 Flashcards
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Sample Questions
Q1) Initiatives intended to improve an organization's positive impact on society and the natural environment are called
A)environmental marketing
B)green marketing
C)socially-responsible marketing
D)energy-conscious marketing
E)socially-conscious marketing
Answer: B
Q2) The marketing mix is built around the A)product.
B)company.
C)customer.
D)employee.
E)retail outlet.
Answer: C
Q3) Changes in the marketing environment always hurt marketing efforts.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Planning Implementing and Evaluating Marketing Strategies
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153 Verified Questions
153 Flashcards
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Sample Questions
Q1) A firm's organizational goals should be derived from its opportunities.
A)True
B)False Answer: False
Q2) A large company that markets products throughout the nation could use a regional type of organization.
A)True
B)False Answer: True
Q3) When an organization attempts to control its marketing activities, it may find it difficult to
A)determine their effect on sales volume.
B)use the information it collects.
C)obtain the necessary information.
D)get the accounting department to cooperate.
E)develop a marketing plan.
Answer: C
Q4) Describe the process of strategic planning. How does this process help marketing managers?
Answer: Answer not provided.
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Chapter 3: The Marketing Environment
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Sample Questions
Q1) Refer to Scenario 3.1. Suppose that the Soljur Sports company was actually discriminating against Meyer Sporting Goods with its price increase. Which of the following acts prohibits this type of business behavior?
A)Sherman
B)Wheeler-Lee
C)Robinson-Patman
D)Celler-Kefauver
E)Consumer Goods Pricing Answer: C
Q2) Disposable income is used to pay taxes, spend, and save.
A)True
B)False
Answer: False
Q3) The strength of one's buying power depends partially on the state of the economy.
A)True
B)False Answer: True
Q4) Contrast recession and depression. Answer: Answer not provided.
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Chapter 4: Social Responsibility and Ethics in Marketing
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181 Flashcards
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Sample Questions
Q1) Which of the following statements about codes of conduct is true?
A)All publicly-traded companies have formal codes of conduct.
B)Most large corporations have formal codes of conduct.
C)Codes of conduct are unnecessary for small- and medium-sized companies.
D)Approximately half of large companies have formal codes of conduct.
E)Very few companies have formal codes of conduct, but most have informal codes.
Q2) The Kofton Corporation produces all types of jeans that are sold to retailers throughout the world. Hank, the purchasing director at Kofton, has found a supplier who will provide new fabrics that are easier to launder and more comfortable to wear. Additionally, they are available at a lower price than the current jeans Kofton buys. Since Kofton wants to satisfy its customers and its bottom line, Hank thinks he has a winner. However, when presenting the news to his management team, one of them asks "will there be any child labor involved with this new supplier?" Hank has forgotten ____ which is important to the Kofton Corporation.
A)the philanthropic position.
B)marketing citizenship.
C)a stakeholder orientation.
D)community relations.
E)social responsibility.
Q3) Discuss some of the important ethical issues in marketing.
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Chapter 5: Marketing Research and Information Systems
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190 Flashcards
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Sample Questions
Q1) The following are all guidelines for questionnaire construction that support ethical marketing research except to
A)allow the interviewer to introduce him/herself by name.
B)indicate that this is a marketing research project.
C)explain that no sales will be involved.
D)state the likely duration of the interview.
E)keep the name of the research company confidential.
Q2) The first sign of a problem is usually a departure from some normal function, such as a failure to attain objectives.
A)True
B)False
Q3) Although telephone surveys can be conducted very quickly, a major limitation is
A)the ability to gain rapport with respondents.
B)the difficulty in asking probing questions.
C)that few companies prefer this survey method.
D)that only a small portion of the population likes to participate in telephone surveys.
E)the expense compared to in-home interviews.
Q4) Compare the advantages and disadvantages of the two types of collecting a sample.
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Chapter 6: Target Markets: Segmentation and Evaluation
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204 Flashcards
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Sample Questions
Q1) Surveys are sometimes used to forecast sales.
A)True
B)False
Q2) Segmentation variables are usually grouped into four categories:
A)demographic, geographic, religion, and income.
B)geopolitical, income, behavioristic, and psychographic.
C)attitudes, lifestyles, behaviors, and gender.
D)geographic, demographic, psychographic, and attitudes.
E)demographic, geographic, psychographic, and behavioristic.
Q3) A business advantage of the concentrated targeting strategy for any company is that it
A)requires less market research and information.
B)requires less intensive analysis of customers' characteristics and needs.
C)allows a firm to utilize all of its production capacity.
D)maintains the firm's flexibility in moving into other market segments.
E)allows a firm to develop a special marketing mix for a single market segment.
Q4) Consideration of the firm's overall objectives usually does not influence the final selection of a target market segment.
A)True
B)False
Page 8
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Chapter 7: Consumer Buying Behavior
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219 Flashcards
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Sample Questions
Q1) A social class is a closed aggregate of individuals with similar social ranking.
A)True
B)False
Q2) Some of the criteria used in the evaluation of alternatives stage of the consumer buying decision process are also used during the postpurchase evaluation stage.
A)True
B)False
Q3) The five categories of situational influences are:
A)product involvement level, physical surroundings, social surroundings, time perspective, and purchase reason.
B)antecedent states, physical surroundings, social surroundings, time perspective, and space dimensions.
C)social surroundings, physical surroundings, time pressures, purchase reason, and lifestyles.
D)purchase reason, time perspective, social surroundings, physical surroundings, and buyer's momentary mood.
E)store atmosphere, location, aromas, sounds, and lighting.
Q4) How does an individual's social class influence the products he or she buys?
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9
Chapter 8: Business Markets and Buying Behavior
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Sample Questions
Q1) If a business product exceeds specifications, so much the better; the customer can then be assured of obtaining a minimum level of acceptability.
A)True
B)False
Q2) Retailers like Target and Kmart are considered to be members of which business market?
A)Reseller
B)Customer
C)Producer
D)Institutional
E)Services
Q3) Individuals and business organizations that purchase products for the purpose of making a profit either by using the products to produce other products or by using them in their operations are classified as ____ markets.
A)consumer
B)institutional
C)producer
D)government
E)reseller
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Page 10
Chapter 9: Reaching Global Markets
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Sample Questions
Q1) Explain why the mode of entry into an international market is a major issue for managers to consider.
Q2) In many developing countries around the world, technology is enabling opportunities to "leapfrog" existing technology. What does this mean?
A)These countries are able to forgo current technological advances in order to wait for even better technology to be developed.
B)More advanced technology is reaching these countries even though they lack technological infrastructures.
C)Technological advances are often offered at prices considerably lower than in well-developed countries.
D)The technology in developing countries is rapidly surpassing the technology in well-developed countries.
E)The existing technological infrastructures in these countries are rapidly being replaced by newer, more advanced technology.
Q3) Two-thirds of the world's total purchasing power is outside the United States.
A)True
B)False
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Chapter 10: Digital Marketing and Social Networking
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181 Verified Questions
181 Flashcards
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Sample Questions
Q1) While consumers can use websites to access more information, marketers can also use the same sites to get information on the consumer.
A)True
B)False
Q2) Digital marketing is a term used for any electronic media that functions using digital codes.
A)True
B)False
Q3) Twitter is useful for communications between friends, but not for communications between businesses and customers.
A)True
B)False
Q4) Despite emerging technologies, consumers are unchanging in their traditional information searches and consumption behaviors.
A)True
B)False
Q5) Explain the concept "push-pull" when referring to digital marketing as a new distribution channel.
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Chapter 11: Product Concepts
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187 Flashcards
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Sample Questions
Q1) Depending on the length of time it takes them to adopt a new product, people can be divided into five major adopter categories: early adopters, early majority, late majority, laggards, and
A)late adopters.
B)nonadopters.
C)innovators.
D)middle adopters.
E)middle majority.
Q2) Sales of Schwinn's apartment-sized exercise machine have experienced a steady climb; however, the profits have been negative. The Schwinn exercise machine is most likely in the ____ stage of the product life cycle.
A)decline
B)growth
C)initial
D)maturity
E)introduction
Q3) Discuss the concept of "sustainability" and how it is related to product decisions.
Q4) Discuss the dimensions of a product mix.
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Chapter 12: Developing and Managing Products
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Sample Questions
Q1) Why are line extensions more common than new products?
A)They are higher risk and more expensive.
B)They are guaranteed to succeed in the marketplace.
C)They are less expensive and lower-risk.
D)They require no market research.
E)Modifications to existing products are very easy.
Q2) The three major ways to modify a product include
A)aesthetic, quality, and functional changes.
B)extensions, generations, and upgrades.
C)color, size, and quantity modifications.
D)styling, product features, and product design.
E)quality, quantity, and design.
Q3) The runout approach to product deletion is used for technologically obsolete products.
A)True
B)False
Q4) What is concept testing, and why is it important?
Q5) Discuss the role of new-product development in the marketing mix. Why is new-product development an important issue?
Page 14
Q6) Why and how might an organization delete existing products?
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Chapter 13: Services Marketing
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202 Flashcards
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Sample Questions
Q1) The continuum of tangibility goes from ____ on one end to ____ on the other end.
A)service-dominant products; good-dominant products
B)pure products; pure services
C)rational products; irrational products
D)mostly service goods; mostly product goods
E)easy to see; not easy to see
Q2) Safe Auto Insurance advertises "minimum coverage for minimum budgets" for its automobile insurance. Which of the following best describes Safe Auto's approach?
A)Customers often use price as an indicator of quality, and Safe wants to be seen as a low-quality provider.
B)This type of advertising makes insurance more tangible to the customer.
C)Safe wants to reassure customers that they provide the highest level of service quality available.
D)Because market conditions limit prices on auto insurance, Safe uses this approach to gain customers.
E)For some services, customers look for the low-cost provider, which is what Safe claims to be.
Q3) In what ways do inseparability and intangibility affect the pricing of services?
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Chapter 14: Branding and Packaging
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Sample Questions
Q1) Jeff went to his local supermarket to purchase cola, chips, dip, and salsa for the weekend's gathering to watch the football game. As far as the cola goes, Jeff thinks they all taste the same and buys either Coke or Pepsi, whichever is on sale. However, for the chips, he likes to buy Doritos White Corn when the store has them. While at the store, he picks up Coke and Santidas Corn chips because the store did not have the Doritos. When he gets to the salsa aisle he finds that his favorite brand, Pace's is out of stock. Rather than buy a different brand, he goes to another store to find the Paces. Jeff's brand loyalty on this shopping trip can be described as ___ for the cola, ___ for the chips, and ___ for the salsa.
A)recognition; preference; loyalty
B)recognition; preference; insistence
C)awareness; preference; insistence
D)preference; awareness; insistence
E)awareness; insistence; preference
Q2) Registration of a brand with the U.S. Patent and Trademark Office provides a firm with worldwide rights to use that brand for a specified time period.
A)True
B)False
Q3) In what ways can packaging be used strategically?
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Page 16
Chapter 15: Marketing Channels and Supply Chain Management
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Sample Questions
Q1) Morgan Steel Company leases a warehouse in Jacksonville, Alabama to serve Deep South markets that were large enough and stable enough to make a long-term commitment to fixed facilities. This is a
A)flexible warehouse.
B)dispatching center.
C)distribution center.
D)private warehouse.
E)public warehouse.
Q2) Which mode of transportation hauls more freight than any other?
A)Railroads
B)Waterways
C)Pipelines
D)Trucks
E)Airways
Q3) Supply chains for durable goods typically begin at _____ and end at _____.
A)Raw materials; the retailer
B)Suppliers; the retailer
C)Raw materials; the customer
D)Suppliers; the customer
E)Retailers; the customer
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Chapter 16: Retailing, Direct Marketing, and Wholesaling
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Sample Questions
Q1) Calhoun Produce, a ____, takes possession of truckloads of tomatoes, arranges for storage, and transports them to auctions to be sold.
A)manufacturer's agent
B)selling agent
C)commission broker
D)commission merchant
E)selling broker
Q2) Which of the following was developed in 1927 to supply milk, eggs, and other products for customers replenishing their ice boxes?
A)Supermarkets
B)Convenience stores
C)Discount stores
D)Department stores
E)Specialty stores
Q3) What are the two categories of retail stores based on breadth of products offered, and what types of stores are in each category?
Q4) Compare the services wholesalers provide for producers with the services they provide to retailers.
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Discuss the impact that social media has had on the strategy for promotion.
Q2) Mister Sub offers customers a card that allows them to have a free sub for every 7 that have been purchased and provides various discounts throughout the year. The primary promotional objective of programs such as this is
A)encouraging product trial.
B)retaining existing customers.
C)stimulating demand.
D)combating competitive promotional offers.
E)reducing sales fluctuations.
Q3) Retro64 distributes free downloadable versions of its computer games for a very short time. These efforts have a primary promotional objective of A)encouraging product trial.
B)stimulating demand.
C)identifying prospects.
D)creating awareness.
E)reducing sales fluctuations.
Q4) Select three criticisms of promotion, and provide defenses to rebut them.
Q5) What is integrated marketing communications? Explain its purpose.
Q6) Draw, label, and explain the communication process.
Page 19
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Chapter 18: Advertising and Public Relations
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Sample Questions
Q1) Advertisements that promote goods and services are called advocacy advertisements.
A)True
B)False
Q2) A feature article is longer than a news release and is written for a particular publication.
A)True
B)False
Q3) When an organization uses an advertising agency, who usually develops the advertising campaign?
A)The agency's specialists
B)The firm and the agency working jointly
C)The agency suggests ideas and the firm chooses among them
D)The advertising department within an organization
E)An individual or a few persons within the firm
Q4) A marketer's advertising platform should consist of issues that are important to consumers.
A)True
B)False
Q5) Identify and describe four publicity-based public relations tools.
Page 20
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Chapter 19: Personal Selling and Sales Promotion
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Sample Questions
Q1) Identify and describe several ways to motivate sales personnel.
Q2) Dylan is a sales person for Whole Foods. In his position, he is primarily responsible for seeking repeat sales. Dylan is most likely a(n)
A)order getter..
B)order recorder.
C)order taker.
D)follow-up salesperson.
E)missionary salesperson.
Q3) A major disadvantage of personal selling is that it
A)is not remembered as well by consumers as advertising messages are.
B)cannot easily adjust the message to satisfy a customer's information needs.
C)is very expensive per contact.
D)does not provide immediate feedback.
E)is not compatible with other promotional activities.
Q4) Which of the following is the best example of a well-stated sales objective?
A)Companywide sales should increase by 25 percent.
B)Each salesperson should increase his or her client group by 10 percent.
C)Each salesperson should bring in $25,000 in new sales by November 15.
D)The sales force should increase the market share in all markets by December 1.
E)Each salesperson should increase the number of calls they make by 20 percent.
21
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Chapter 20: Pricing Concepts
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Sample Questions
Q1) Which of the following products is most likely to have an inverted C-shaped demand curve?
A)Visit to the Dentist
B)Eternity perfume
C)Starbucks coffee
D)Pillsbury cake mix
E)Ford Escape
Q2) For most products, a(n) ____ relationship exists between the price of a particular product and the quantity demanded.
A)inelastic
B)inverse
C)positive
D)unknown
E)elastic
Q3) A customer looking for the lowest price on a mattress without concern for the quality of the mattress or the status gained by buying and using a certain brand is a price-conscious customer.
A)True
B)False
Q4) What are the implications of a downward-sloping demand curve?
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Chapter 21: Setting Prices
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Sample Questions
Q1) Explain the ethical implications of professional pricing.
Q2) A price-skimming strategy assumes that
A)the initial demand is highly elastic.
B)the product is efficient.
C)it will be difficult to recoup development costs.
D)all consumers have homogeneous tastes.
E)the initial demand is highly inelastic.
Q3) If General Motors determines that it wants to sell 200,000 Chevrolet Acadias and sets the price at $29,500 because it knows that at that price it will reach that goal, the firm would be using a ____ pricing method.
A)cost-plus
B)competition-based
C)psychological
D)comparison
E)demand-based
Q4) Captive pricing, premium pricing, bait pricing, and price lining are all strategies aimed at maximizing the profits of an entire product line rather than an individual product.
A)True
B)False
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