Marketing Strategy Practice Questions
Course Introduction
Marketing Strategy explores the principles and practices involved in developing, implementing, and evaluating effective marketing plans that drive organizational success. This course examines the competitive environment, market segmentation, targeting, and positioning, as well as the integration of product, price, place, and promotion (the marketing mix) to achieve organizational objectives. Through case studies, real-world examples, and analytical tools, students learn to craft comprehensive marketing strategies, analyze consumer behavior, anticipate market trends, and respond to the dynamic needs of customers and stakeholders in both local and global contexts.
Recommended Textbook
M Marketing 5th Edition by Dhruv Grewal
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19 Chapters
2678 Verified Questions
2678 Flashcards
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Page 2
Chapter 1: Overview of Marketing
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) Even though they operate from out-of-the-way airports and offer few extra services,discount,no-frill airlines like Ryanair and EasyJet have been successful.Consumers obviously consider
A) the extra services offered by these airlines to be the most thorough in the industry.
B) the long-term relationships established by these airlines to be a critical benefit.
C) the prices to be slightly lower,but not low enough to have much influence.
D) the benefit of lower prices to be greater than the cost of reduced services and less convenience.
E) the major airlines to be worthless.
Answer: D
Q2) What is the fundamental purpose of marketing?
Answer: To create value by developing a variety of offerings,including goods,services,and ideas,to satisfy customer needs.
Q3) What are the four Ps of marketing? Give an example of each.
Answer: Product,price,place,and promotion.Examples will vary.
Q4) How should marketers determine prices?
Answer: Prices should be based on potential customers' perceptions of value.
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3
Chapter 2: Developing Marketing Strategies and a Marketing Plan
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141 Verified Questions
141 Flashcards
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Sample Questions
Q1) Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products.These marketers are attempting to create value through
A) product.
B) price.
C) promotion.
D) place.
E) cost-based measures.
Answer: C
Q2) Because it was able to deliver merchandise overnight,in the required quantities,and at a lower delivered cost than its competitors,Joe's Sports Shack was given exclusive rights to sell clothing with school logos for the school district.Joe's demonstrates ________ excellence.
A) product
B) place
C) customer
D) operational
E) locational
Answer: D
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Chapter 3: Social and Mobile Marketing
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) The focus of social media efforts targeted at customer interaction is building connections.
A)True
B)False
Answer: True
Q2) The 4E framework for social media guides marketers in using social media effectively to build and deepen customer relationships.Which of the following is not one of the 4Es in this framework?
A) engagement
B) energy
C) excitement
D) experience
E) education
Answer: B
Q3) Why might an active Facebook user also want to participate in LinkedIn?
Answer: LinkedIn is a professional social network,useful for building and maintaining professional connections.Facebook is used more for personal contacts and friendships.Both will provide opportunities for networking.
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Page 5
Chapter 4: Marketing Ethics
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) To avoid having ethical situations become problematic for a firm,the short-term goals of each employee must
A) be aligned with the long-term goals of the firm.
B) be overridden by the overall goals of the firm.
C) become secondary to the needs of the remaining stakeholders.
D) be reviewed on an annual basis.
E) change on a regular basis.
Q2) How might a technology company like Apple ensure that it behaves in a socially responsible way toward its customers?
A) It can protect the privacy of personal information collected on its website.
B) It can adhere to government-mandated safety standards in its stores.
C) It can ensure that it pays its employees fairly.
D) It can ensure that its packaging materials are recyclable.
E) Social responsibility isn't relevant where customers are concerned; it has to do with serving society as a whole.
Q3) Ethical issues are likely to arise at each stage of the strategic marketing planning process.
A)True
B)False
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Page 6
Chapter 5: Analyzing the Marketing Environment
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135 Verified Questions
135 Flashcards
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Sample Questions
Q1) The poorest 10 percent of the U.S.population earned less than _______ per week in 2013.
A) $2,500
B) $1,801
C) $1,265
D) $920
E) $392
Q2) Which of the following specifically prohibits monopolies?
A) Sherman Antitrust Act
B) Federal Trade Act
C) Robinson-Patman Act
D) Financial Reform Law
E) Consumer Product Act
Q3) The value of the euro has changed significantly since 2002 with the problems experienced by several European economies.This change in value is called
A) interest destabilization.
B) inflation.
C) recession.
D) foreign currency fluctuations.
E) global financial impact.
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Chapter 6: Consumer Behavior
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Often political candidates position themselves as "outsiders," not part of the establishment.These candidates assume that voters have a negative attitude toward incumbent politicians (i.e.,those currently in office).Describe three components of attitudes voters might have toward incumbent politicians.
Q2) Another name for physiological risk is safety risk.
A)True
B)False
Q3) Ryan believes he is responsible for his actions,and he will conduct extensive searches before making a purchase.Michael's favorite phrase,when confronted by the need to make a decision,is "Whatever." In marketing terms,Ryan is said to have a(n)__________ and Michael,a(n)__________.
A) obsessive personality; laissez-faire approach
B) formal search function; casual search function
C) increased search anxiety; decreased search anxiety
D) internal locus of control; external locus of control
E) focused sense of information; unfocused sense of information
Q4) Demonstrate your understanding of the terms internal locus of control and external locus of control by giving an example of each.
Q5) Why are attitudes important in consumer decision making?
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Chapter 7: Business-To-Business Marketing
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) In established businesses,a large proportion of B2B purchases fall into the __________ category.
A) straight rebuy
B) new buy
C) adapted buy
D) modified rebuy
E) generic buy
Q2) Francesca is a textbook company salesperson about to call on the Philadelphia School District.She would like to know in advance whether the school district's buying center is autocratic or democratic.What types of behavior might she observe that would help her to tell which of these two types of buying centers it is? How should she change her sales approach depending on which type it is?
Q3) Suppose that six months ago,Levi Strauss began working with a new vendor for zippers,snaps,and other hardware used on its jeans.Now the buying center wants to assess the new vendor's performance.Describe how Levi Strauss might perform this assessment.Be specific.
Q4) As a business-to-business marketer,would you prefer to market to a firm with an autocratic or a consensus buying center culture,and why?
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Page 9
Chapter 8: Global Marketing
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) There is only one global product strategy: to sell a product or service similar to that sold in the home country but include minor adaptations.
A)True
B)False
Q2) Which of the BRIC countries has one of the youngest populations in the world and is increasingly adopting global attitudes?
A) Russia
B) Brazil
C) India
D) Italy
E) China
Q3) The most common measure of market potential of an economy is a country's
A) GNI.
B) GDP.
C) PPP.
D) CPI.
E) APR.
Q4) How do tariffs affect markets?
Q5) Explain the concept of reverse innovation by giving an example of this practice.
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Chapter 9: Segmentation, Targeting, and Positioning
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) One of the reasons marketers use loyalty segmentation is
A) the high cost of finding new customers.
B) government tax incentives.
C) accounting difficulties associated with identifying new customers.
D) rapid population increases.
E) the failure of micromarketing as a workable strategy.
Q2) For which types of products should marketers consider using an undifferentiated targeting strategy?
Q3) Psychographics is the segmentation method that delves into how consumers
A) adjust to demographic changes.
B) allocate scarce incomes to a variety of goods and services.
C) describe themselves.
D) value their livelihoods.
E) believe other people see them.
Q4) It would be logical for bathing suit marketers to use geographic segmentation. A)True B)False
Q5) Why does loyalty segmentation make so much sense? Describe how a local pizza restaurant could employ loyalty segmentation.
Page 11
Q6) Write a value proposition for your favorite restaurant.
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Chapter 10: Marketing Research
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) One of the benefits of marketing research is it reduces the uncertainty under which managers make decisions.
A)True
B)False
Q2) A major disadvantage of primary data collection is
A) it can be accessed only through syndicated databases or unstructured data mines.
B) it cannot be tailored to meet specific research needs.
C) it takes more time to collect than secondary data and is more costly.
D) it is too general to meet researcher's and manager's needs.
E) it does not offer behavioral insights that can be obtained from secondary data.
Q3) If senior management already has made its decision,should marketing research be conducted? What questions should be considered?
Q4) Donald is analyzing and interpreting data.In the process,he is converting data into information.
A)True
B)False
Q5) What are some of the problems with using secondary data?
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Page 12
Chapter 11: Product, Branding, and Packaging Decisions
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147 Verified Questions
147 Flashcards
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Sample Questions
Q1) Marketers with luxury brands use brand extension cautiously in order to avoid A) brand licensing fees.
B) exclusive co-branding arrangements.
C) diluting the core brand.
D) private-label branding disputes.
E) product line extension limitations.
Q2) For the average college student,a retirement account would be a shopping product.
A)True
B)False
Q3) Brands are assets that can be legally protected through A) copyrights and trademarks.
B) financial reporting.
C) brand extensions.
D) generic branding.
E) corporate branding strategies.
Q4) What is co-branding? Provide an example of co-branding.
Q5) Walt Disney Company recently announced it would no longer allow its characters to be used in promoting unhealthy foods.In branding strategy,what does this change? From both ethical and marketing perspectives,does this change make sense?
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Chapter 12: Developing New Products
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143 Flashcards
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Sample Questions
Q1) When a product is successful in the introductory stage of the product life cycle,
A) it moves directly into the maturity stage.
B) it is most likely to begin to launch spinoffs.
C) competition becomes less important.
D) it may start to see profits toward the end of this stage.
E) marketing costs increase significantly.
Q2) The __________ step in the product development process is critical,requiring tremendous resources and extensive coordination of all aspects of the marketing mix.
A) pretesting
B) product launch
C) posttesting
D) product development
E) evaluation of results
Q3) What is a "new-to-the-world" product,and how does this type of product impact markets and consumer preferences? Use an example to explain this concept.
Q4) Define and describe the product life cycle stage in which laggards begin to purchase products.
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14
Chapter 13: Services: the Intangible Product
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) All products and services are intangible.
A)True
B)False
Q2) Barnes & Noble bookstores have computers available for associates to use to search for books requested by customers and to place special orders.These computers are an example of
A) instrumental support.
B) employee incentives.
C) emotional support.
D) line extensions.
E) the delivery gap.
Q3) Firms can close a __________ gap by being more realistic about the services they can provide and managing customer expectations.
A) seniority
B) knowledge
C) standards
D) delivery
E) communication
Q4) Explain the concepts of distributive fairness and procedural fairness.Give an example of each.
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Chapter 14: Pricing Concepts for Establishing Value
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Dynamic pricing is also referred to as _______ pricing.
A) complementary
B) substitution
C) break-even
D) target return
E) individualized
Q2) Sharon knew that her established customers liked her product much better than her competitor's.She was planning to expand into new markets,and she was considering pricing.She was leaning toward charging a higher price than competitors to help demonstrate that hers was a high-quality product.Sharon was considering A) a top of market strategy.
B) the value of quality.
C) advantageous pricing.
D) premium pricing.
E) differential pricing.
Q3) When the major league baseball season opens in April,teams that are located in the Midwest and Northeast are still experiencing cold and rainy weather.This often results in fewer fans attending these April games.What can these ball clubs do to maximize their revenue during this time period?
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Page 16
Chapter 15: Supply Chain and Channel Management
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) The three types of vertical marketing systems are administered,contractual,and
A) cooperative.
B) corporate.
C) independent.
D) coercive.
E) conventional.
Q2) Coercive power is based on getting a channel member to behave in a certain way because of a contractual agreement between the two firms.
A)True
B)False
Q3) If a firm declared that it wanted to develop a strategic relationship,but was unwilling to commit funds or any effort to make it succeed,there would be an obvious lack of A) mutual trust.
B) common goals.
C) a contractual arrangement.
D) credible commitments.
E) open communication.
Q4) Define horizontal channel conflict.
Q5) Explain the difference between an indirect and a direct marketing channel.
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Chapter 16: Retailing and Omnichannel Marketing
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Jenna has a large family and likes to stock up on large packs of basics like toilet paper,paper towels,and large bottles of condiments like ketchup.Jenna would most likely prefer to shop for these items at a(n)
A) convenience store.
B) off-price retailer.
C) specialty store.
D) warehouse club.
E) category killer.
Q2) Compared to conventional supermarkets,warehouse clubs have
A) a broader assortment of food items.
B) a lower level of service.
C) slightly higher prices.
D) no products appealing to small businesses.
E) lower annual fees.
Q3) Conventional supermarkets still sell a majority of food merchandise,but they are under substantial competitive pressures.Who are the emerging competitors and what can they offer customers that conventional supermarkets do not?
Q4) In what type of retail situation would the old cliché "location,location,location" be true?
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Chapter 17: Integrated Marketing Communications
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Sample Questions
Q1) Betty is assessing the effect of her firm's marketing communications.She should remember that the ultimate goal is to drive the receiver to action.
A)True
B)False
Q2) Kim and David's Kayak Tours offers a variety of coastal kayaking trips.When they started their business,they experimented with advertising but were disappointed with the results.A friend has suggested using sales promotions instead.What are their sales promotion options? Which would have the best potential for success,and why?
Q3) Which of the following is not a communication channel used in the IMC process?
A) radio
B) television
C) newspaper
D) Internet
E) supply chain
Q4) Integrated marketing communications (IMC)represents the product element of the four Ps.
A)True
B)False
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Page 19
Chapter 18: Advertising, Public Relations, and Sales Promotions
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) What are PSAs? Why do television and radio stations run them?
Q2) Special in-store displays for magazines and chewing gum are most likely to be effective if located
A) near the entrance to the store.
B) near the restrooms.
C) along the aisle or wall to the far right of the customer as he or she enters the store.
D) near the checkout counter.
E) in the window at the front of the store.
Q3) Generally speaking,all advertising messages are designed to A) meet the needs of society.
B) inform,persuade,or remind customers.
C) comply with FCC rules combined with FTC antitrust regulations.
D) entertain or apprise.
E) match production scheduling with consumer demand.
Q4) Many small "main street" retailers find advertising either too expensive or ineffective.In this situation,these business owners turn to sales promotion to complement or augment their advertising efforts.Describe three kinds of sales promotion a small,main street retailer might use,including the advantages and disadvantages of each sales promotion method.
Page 20
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Chapter 19: Personal Selling and Sales Management
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150 Flashcards
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Sample Questions
Q1) Evelyn knows that prospective customers are likely to raise reservations about price and quality.She needs to convince customers that her products represent
A) time savings.
B) a good value.
C) the least expensive choice available.
D) average quality for an average price.
E) an environmental achievement.
Q2) The __________ stage occurs prior to meeting the customer for the first time and extends the qualification of leads.
A) qualify leads
B) preapproach
C) closing the sale
D) follow-up
E) sales presentation
Q3) Merl,an architect,made his presentation to the potential customer and handled objections.What does Merl need to do next,and why is this stage so stressful?
Q4) For a car salesperson,what are good ways of generating leads?
Q5) What is an advantage of using a selling team?
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