Marketing Strategy
Practice Exam
Course Introduction
Marketing Strategy explores the frameworks, tools, and analytical concepts used to design and implement effective marketing plans. The course covers key topics such as market segmentation, targeting, and positioning, competitive analysis, brand management, product and pricing strategies, channel distribution, and integrated marketing communications. Through case studies and real-world examples, students learn how to align marketing initiatives with broader business objectives, respond to dynamic market environments, and achieve sustainable competitive advantage. By the end of the course, students will be equipped to develop, execute, and evaluate comprehensive marketing strategies across diverse industries.
Recommended Textbook
M Marketing 5th Edition by Dhruv Grewal
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Page 2
Chapter 1: Overview of Marketing
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Sample Questions
Q1) Many U.S.companies first discovered marketing during the __________ era.
A) production-oriented
B) sales-oriented
C) market-oriented
D) value-based marketing
E) retailing-oriented
Answer: C
Q2) The power adapters Dell sells with its computers are built by small companies that specialize in power-related accessories.When Dell purchases its power adapters from these small companies,it is engaged in B2B marketing.
A)True
B)False
Answer: True
Q3) Marketers might wish to sell their products to everyone,but it is not practical to do so.
A)True
B)False
Answer: True
Q4) What are the four Ps of marketing? Give an example of each.
Answer: Product,price,place,and promotion.Examples will vary.
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Chapter 2: Developing Marketing Strategies and a Marketing Plan
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Sample Questions
Q1) Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems.Adrienne is pursuing a __________ growth strategy.
A) segment development
B) market development
C) market penetration
D) diversification
E) product development
Answer: C
Q2) Heather has been assessing a number of her firm's products using the Boston Consulting Group (BCG)approach to portfolio analysis.She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors.Heather is trying to determine
A) the product's relative market share.
B) the market growth rate.
C) a source of competitive advantage.
D) the impact of population shifts on future demand.
E) cash equivalent values for each product.
Answer: A
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Chapter 3: Social and Mobile Marketing
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Sample Questions
Q1) To achieve their objectives,marketers rely on three types of social media: social networking sites,media-sharing sites,and thought-sharing sites.
A)True
B)False
Answer: True
Q2) Which of the following social media tools is a type of all-in-one marketing software that can be used to educate customers?
A) Facebook
B) Twitter
C) LinkedIn
D) HubSpot
E) WordPress
Answer: D
Q3) Explain the three primary objectives social media is used to accomplish.
Answer: First,members promote themselves to gain more friends.Second,the sites promote to get more members.Third,outside companies promote their products and services to appeal to the potential consumers that are active on the sites.
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Chapter 4: Marketing Ethics
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Sample Questions
Q1) The idea that corporate social responsibility is unnecessary because the goal of any corporation is simply to make a profit has been thoroughly discredited and is no longer supported by economists or businesspeople.
A)True
B)False
Q2) Marketers can introduce ethics at the beginning of the planning phase of the strategic marketing planning process by including ethical statements in the firm's mission or vision statements.
A)True
B)False
Q3) After a firm has identified the various stakeholders and their issues and gathered the available data,all parties relevant to the decision should engage in brainstorming and evaluating alternatives.__________ then review and refine these alternatives,and choose a course of action.
A) Managers
B) The firm's lawyers
C) Key customers
D) Community leaders
E) All stakeholders
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Page 6
Chapter 5: Analyzing the Marketing Environment
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Sample Questions
Q1) The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment
A) is external.
B) is easier to understand.
C) is easier to control.
D) has fewer components.
E) is internal.
Q2) International marketers new to the United States often struggle to define American culture.What would these international marketers need to study in order to define the term and what would they be likely to learn?
Q3) Marketers know that,compared to high school graduates who are working full time,college students
A) will earn less over their working lifetime.
B) spend their disposable income differently.
C) are less likely to buy textbooks.
D) have almost identical spending patterns.
E) are more likely to drink beer and less likely to drink wine.
Q4) In recent decades,how has income distribution changed in the United States?
Q5) How can marketers identify potential opportunities?
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Chapter 6: Consumer Behavior
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Sample Questions
Q1) How does the shopping situation affect consumer behavior,both positively and negatively?
Q2) Upscale men's and women's clothing stores,like Nordstrom,Neiman Marcus,or Saks Fifth Avenue,are more likely to appeal to consumers' __________ needs.
A) functional
B) postpurchase
C) safety
D) psychological
E) situational
Q3) Dawn flies regularly between Atlanta and Los Angeles.She almost always uses Delta Airlines and has lots of Delta Sky Miles credit (Delta's frequent-flyer program).Still,she uses an online fare comparison website each time to see if a competitor has a better price or a more convenient schedule.Dawn uses __________ to decide which airline to fly.
A) a compensatory decision rule
B) a noncompensatory decision rule
C) habitual decision making
D) social factors
E) temporal factors
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Page 8
Chapter 7: Business-To-Business Marketing
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Sample Questions
Q1) Describe a straight rebuy situation,and explain how it differs from a modified rebuy.
Q2) When Leanne gave her presentation to the BigDeal buying center team,she focused on answering Beverly's questions,since she is the decision maker.What type of buying center does BigDeal employ?
A) democratic
B) consultative
C) consensus
D) autocratic
E) authoritative
Q3) When a business buyer decides to change specifications such as quality or options associated with products purchased in the past,the buyer is engaged in a(n)__________ situation.
A) new buy
B) modified rebuy
C) straight rebuy
D) adapted buy
E) side-by-side
Q4) Name three ways a B2B marketer can enhance customer relationships.
Q5) How are the B2B and B2C buying processes different?
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Chapter 8: Global Marketing
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Sample Questions
Q1) Why should marketers be aware of the BRIC countries?
A) They are a microcosm of the rest of the world.
B) They represent almost half the world's population.
C) They are likely to be the source of most market growth.
D) They have the most dramatic changes in culture and consumer buying patterns.
E) They have stable population growth,which makes them easier to study.
Q2) China is now the second-largest economy and the third-largest market for U.S.exports.
A)True
B)False
Q3) Globalization refers to the processes by which goods,services,capital,people,information,and ideas
A) are onshored and offshored.
B) flow across national borders.
C) are integrated through IMF facilitation.
D) are similar in various markets.
E) affect corporate culture.
Q4) What is Geert Hofstede's six cultural dimensions concept? What is the value of his cultural dimensions concept to global marketers?
Q5) Why do many American firms begin their global expansion efforts by exporting?
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Chapter 9: Segmentation, Targeting, and Positioning
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Sample Questions
Q1) Paul is considering psychographics as a way to segment the market for his small travel agency.This approach to segmentation offers him an advantage because
A) it is based on underlying reasons why people make choices.
B) it is easier to use than demographics.
C) the travel business doesn't respond well to other approaches to segmentation.
D) psychographics is the preferred method for service businesses.
E) psychographic segmentation is the least expensive method.
Q2) Firms use a differentiated targeting strategy because A) it is easier than mass marketing.
B) it helps obtain a bigger share of the market.
C) it is better than focusing on individual or small groups of potential customers.
D) most market segments are too small to be profitable.
E) banks are more willing to extend credit to companies with this strategic approach.
Q3) In theory,why is micromarketing the ultimate in STP strategy? What is the weakness associated with micromarketing?
Q4) For which types of products should marketers consider using an undifferentiated targeting strategy?
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Chapter 10: Marketing Research
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Sample Questions
Q1) Which type of interview contains a small group of participants and a trained moderator that guides the conversation?
A) panel
B) syndicated
C) observational
D) focus group
E) sentiment
Q2) Define qualitative research and list two examples of qualitative data collection techniques.
Q3) McDonald's introduced its Favorites Under 400 Calories menu,attempting to change consumers' negative views of McDonald's as a seller of unhealthy food.It would like to survey customers to see if attitudes are changing,but it would like to collect some qualitative data first.Suggest two approaches-one offline,and one online-that McDonald's could use to collect qualitative data before designing a survey.
Q4) Quentin is in a group of 8 to 12 people and is being asked questions by a trained moderator.Quentin is part of an in-depth interview group.
A)True
B)False
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Page 12
Chapter 11: Product, Branding, and Packaging Decisions
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Sample Questions
Q1) Nike sells shoes,clothing,and athletic gear.These represent the breadth of Nike's products.
A)True
B)False
Q2) The Doritos advertising effort of "Live Mas," which is Spanish for "Live More," is meant to suggest a lifestyle aspiration.If consumers make a connection between the Doritos brand and this promotional effort,then Doritos has created
A) brand ownership.
B) a brand extension.
C) brand loyalty.
D) brand dilution.
E) a brand association.
Q3) When Jaclyn selects a case of Sprite at the grocery store for her party,she is attracted by the holiday-themed box featuring green and white bells.What Jaclyn is seeing is referred to as the secondary package.
A)True
B)False
Q4) What do the following brands have in common: Clorox,Kleenex tissues,and Xerox copiers?
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Chapter 12: Developing New Products
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Sample Questions
Q1) When microwaves were new,they often cost over $300,were huge,and had numerous settings and options.Brenda and Bart waited,concerned about potential health hazards and wishing for more choices in the market.By the time they purchased a microwave,sales of microwaves had leveled off and prices had declined significantly.Brenda and Bart were part of the ___________ diffusion of innovation group.
A) innovator
B) laggard
C) late majority
D) early majority
E) early adopter
Q2) Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from A) relative advantage.
B) compatibility.
C) observability.
D) complexity.
E) trialability.
Q3) Why do many biotechnology firms license their new products?
Q4) What is the difference between an innovator and an early adopter?
Page 14
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Chapter 13: Services: the Intangible Product
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Q1) In Europe it is common for hotel guests to ask to see the room before they agree to rent it for the night.Which difference between a service and a product does this custom help overcome?
Q2) A __________ gap can be closed by getting employees to meet or exceed service standards.
A) seniority
B) knowledge
C) standards
D) delivery
E) communication
Q3) Food preparation,lawn maintenance,and house cleaning services are all examples of
A) services shifted abroad because costs are lower in developing countries.
B) services an aging population will decrease the demand for.
C) household maintenance activities that people increasingly pay others to perform.
D) the price elasticity effect on services demand.
E) the ability of empowerment to create tangible service products.
Q4) Name three ways a firm can evaluate service quality,and give examples of each.
Q5) What are the potential gaps in the Gaps Model? What is it designed to do?
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Chapter 14: Pricing Concepts for Establishing Value
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Sample Questions
Q1) Managers of Wendy's fast-food restaurants keep track of prices at competitors such as McDonald's,Burger King,and Arby's,knowing that a decrease in the prices at these other fast-food restaurants will
A) increase the income effect for Wendy's products.
B) increase demand for Wendy's products.
C) decrease the income effect for Wendy's products.
D) increase the complementary effect for Wendy's products.
E) decrease demand for Wendy's products.
Q2) Dynamic pricing is also referred to as _______ pricing.
A) complementary
B) substitution
C) break-even
D) target return
E) individualized
Q3) Which of the following is the most logical example of complementary products?
A) hot dogs and hamburgers
B) VCRs and DVD players
C) hot dogs and hot dog buns
D) Honda cars and Toyota cars
E) a university and a corporation
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Chapter 15: Supply Chain and Channel Management
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Sample Questions
Q1) Merchandise that arrives in the delivery truck ready to be sold is considered
A) quick-response packaged.
B) ahead of the curve.
C) lead time synchronized.
D) floor-ready.
E) synthesized.
Q2) Getting merchandise floor-ready entails
A) distributing and dispatching.
B) ticketing and marking.
C) vertical supply chain wholesaling.
D) intensive cross-docking.
E) selective checking.
Q3) Quick response (QR)systems allow retailers to maximize their inventory holdings.
A)True
B)False
Q4) Where does the value for the consumer lie in the supply chain?
Q5) A firm just starting out usually has the option of choosing from whom it buys and to whom it sells.
A)True
B)False
17
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Chapter 16: Retailing and Omnichannel Marketing
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Sample Questions
Q1) For consumers,shopping in a retail store instead of online offers the unique benefits of participating in a social experience and
A) receiving meaningful product information.
B) viewing a greater selection of products.
C) obtaining immediate gratification.
D) receiving personalized offers.
E) viewing price matching by competitors.
Q2) __________ are combating competitive pressures by offering fresh food and healthy fast food,tailoring assortments to local markets,opening locations closer to where consumers work and shop,and adding new services.
A) Warehouse clubs
B) Supercenters
C) Convenience stores
D) Department stores
E) Extreme value retailers
Q3) Supercenters are stores that combine a supermarket with a full-line discount store.
A)True
B)False
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Though a picture may be worth a thousand words,the most important facet of encoding is
A) who draws the picture.
B) the self-visualization process.
C) not what is received,but rather what is sent.
D) the sponsor rather than the receiver.
E) not what is sent,but rather what is received.
Q2) Carlos owns a chain of retail electronic stores.He is evaluating how he allocates his firm's IMC budget.He receives offers from a variety of advertising media,spends money on his firm's public relations efforts,and is considering electronic media alternatives.Carl must recognize that each IMC alternative
A) will stand on its own.
B) is part of the whole.
C) is part of noncommercial free speech.
D) doesn't help communicate value to the consumer.
E) is dictated by the nature of the supply chain.
Q3) How can direct marketing create a win-win situation for customers and the firm?
Q4) List the steps in the AIDA model and explain why each step is important to marketers.
Q5) Compare and contrast mobile marketing with online marketing.
Page 19
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Chapter 18: Advertising, Public Relations, and Sales Promotions
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Sample Questions
Q1) When businesses support cultural or sporting events,such as the Capital One Orange Bowl football game,this is known as cause-related marketing.
A)True
B)False
Q2) Firms are willing to offer generous rebates because
A) the retailer and manufacturer always split the cost.
B) rebates increase sales,but firms may not have to pay off all the rebates offered.
C) they are easier for the consumer to use than are coupons.
D) rebates are the only type of sales promotion proven to impact sales.
E) they tend to generate repeat customers.
Q3) After identifying the target audience for the university's new advertising campaign,the advertising team needs to decide whether the advertising objective is to __________,__________,or __________ potential and / or existing students.
A) create; stimulate; ignore
B) beg; borrow; steal
C) pay; buy; entertain
D) inform; persuade; remind
E) push; pull; sell
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Chapter 19: Personal Selling and Sales Management
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Sample Questions
Q1) Monica works as a salesperson in a retail clothing store.Of the five stages in the selling process,Monica is least likely to engage in
A) generating and qualifying leads.
B) making the preapproach.
C) closing the sale.
D) following up.
E) making a sales presentation.
Q2) Sales experts have identified five key personal traits that are often found in successful salespeople.List and define these five traits.
Q3) Taylor loves the lifestyle associated with being a salesperson,allowing her to take a day off during the week and making it up on the weekend.She most likely values the __________ associated with creating her own schedule.
A) structure
B) rigidity
C) flexibility
D) selling team approach
E) compensation
Q4) Why are nonfinancial rewards important?
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