Marketing Strategy
Practice Questions
Course Introduction
Marketing Strategy explores the principles, frameworks, and analytical tools essential for developing effective marketing plans that align with organizational goals. Through case studies and practical applications, students learn to assess market opportunities, analyze competitors, segment markets, position products, and make critical decisions regarding product, price, place, and promotion strategies. The course emphasizes the integration of marketing strategies with overall business objectives and equips students with skills to adapt to dynamic market environments and evolving consumer preferences.
Recommended Textbook
Marketing Management Fourteenth Canadian Edition by Philip T. Kotler
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Chapter 1: Defining Marketing for the 21st Century
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Q1) The ultimate outcome of relationship marketing is the building of a unique company asset called a marketing network. What would be the parts of a marketing network for motorcycle company such as Harley-Davidson?
Answer: A marketing network consists of the company and its supporting stakeholders.These stakeholders (in Harley-Davidson's case)might be customers,employees,suppliers,distributors,retailers,repair services,ad agencies,lobby groups,and motorcycle support clubs.The operating principle is simple:Build an effective network of relationships with key stakeholders,and profits will follow.
Q2) ________ actively work to build a strong, favourable, and unique image in the minds of their target publics.
A) Experiences
B) Shopping goods
C) Properties
D) Durable goods
E) Organizations
Answer: E
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Chapter 2: Developing Marketing Strategies and Plans
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Q1) The ________ is a tool for identifying ways to create more customer value.
A) promotion channel
B) value chain
C) brand loyalty index
D) supplier database
E) customer survey
Answer: B
Q2) The Hospital for Sick Children, located in Toronto, has what is called ________ because they have demonstrated excellence in broader business processes.
A) market savvy
B) distinctive capabilities
C) intuitive synergy
D) business touch
E) core competency
Answer: B
Q3) The marketing plan should open with a situation analysis.
A)True
B)False
Answer: False
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Page 4
Chapter 3: Collecting Information and Forecasting Demand
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Q1) ________ is the sales limit approached by company demand as company marketing effort increases relative to that of competitors.
A) Sales budget
B) Market demand
C) Company demand
D) Market potential
E) Company sales potential
Answer: E
Q2) A company can expect to expand its market share to a large extent when
A) it has a low market potential
B) its product-penetration percentage is high
C) its share-penetration index is high
D) it has a high market-penetration index
E) its share-penetration index is low
Answer: E
Q3) Compared to Americans, Canadians prefer larger, more expensive, and less practical cars.
A)True
B)False
Answer: False
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Chapter 4: Conducting Marketing Research
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Q1) Which of the following is considered to be the most versatile of the questioning or interviewing methods?
A) cell phone interview
B) mail questionnaire
C) telephone interview
D) online interview
E) personal interview
Q2) Marketers must be able to justify marketing _________ to senior management.
A) product quotas
B) personal character traits
C) expenditures
D) own training
E) employees
Q3) Which of the following characteristics of good marketing research keeps researchers alert to the problems caused by "marketing myths"?
A) research creativity
B) ethical marketing
C) healthy skepticism
D) the scientific method
E) multiple methods
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Chapter 5: Creating Long term Loyalty Relationships
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Q1) Relational equity is the customer's perceptions of benefits relative to costs.
A)True
B)False
Q2) The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called
A) database marketing.
B) datamining.
C) data warehousing.
D) custom marketing.
E) electronic marketing.
Q3) When managers at companies like Cisco Systems, Petro-Canada, and eBay seeks profits, what should they consider as their company's only true "profit centre"?
Q4) Describe four situations or cases when building a customer database would not be worthwhile for a company.
Q5) The aim of customer relationship management is to keep the costs of meeting and tracking consumers as low as possible.
A)True
B)False
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Chapter 6: Analyzing Consumer Markets
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Q1) Product choice is rarely affected by economic circumstances.
A)True
B)False
Q2) Brand ________ consist of all the brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand node.
A) associations
B) link
C) connection
D) personality
E) stimulus
Q3) The fundamental determinant of a person's wants and behaviour is the person's A) family tree
B) culture
C) psyche
D) national origin
E) peer group
Q4) Heuristics can come into play when consumers forecast the likelihood of future outcomes or events. When would a consumer use an anchoring and adjustment heuristic?
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Chapter 7: Analyzing Business Markets
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Q1) In the ________ category of buyer-supplier relationship categorization, although bonded by a close, cooperative relationship, the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange.
A) contractual transaction
B) collaborative
C) cooperative system
D) mutually adaptive
E) customer is king
Q2) Webster cautions that ultimately, ________ make purchasing decisions.
A) systems contractors
B) individuals, not organizations
C) third parties
D) organizations, not individuals
E) only senior managers
Q3) The business market is essentially the same thing as the consumer market.
A)True
B)False
Q4) What will small sellers and larger sellers do differently in targeting within the business centre?
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Chapter 8: Identifying Market Segments and Targets
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Q1) A marketer of wines identified six different benefit segments in the premium wine market. ________ (14 percent of the market) tend to buy the same brands since they don't know much about wine.
A) Savvy Shoppers
B) Satisfied Sippers
C) Image Seekers
D) Enthusiasts
E) Overwhelmed
Q2) Effective target marketing requires that marketers use market segmentation, market targeting, and market positioning to achieve success in the marketplace.
A)True
B)False
Q3) What key benefits does segment marketing offer over mass marketing?
Q4) Henry Ford epitomized the market segmentation strategy when he offered the Model-T Ford.
A)True
B)False
Q5) Why is it unlikely that many of today's marketers would embrace mass marketing?
Q6) How would a marketer, such as Canon, go about segmenting by purchase criteria?
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Chapter 9: Creating Brand Equity
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Q1) "_______ marketing" may be a more appropriate concept than permission marketing, because marketers and consumers need to work together to find out how the firm can best satisfy consumers.
A) Individualizing
B) Experiment
C) Personalizing
D) One-to-one
E) Participatory
Q2) ________ consists of activities and processes that help inform and inspire employees about brands.
A) Personal branding
B) Individual branding
C) External branding
D) Internal branding
E) Co-branding
Q3) For real brand value to be created, consumers must be convinced that there are meaningful similarities among brands in a category.
A)True
B)False
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Chapter 10: Crafting the Brand Position
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Q1) One of the assertions of saying that a product has a life cycle is to recognize that products have a limited life.
A)True
B)False
Q2) When BMW first made a strong competitive push into the U.S. market in the early 1980s, it positioned the brand as being the only automobile that offered
A) value for the dollar spent.
B) ego enhancement.
C) both luxury and performance.
D) a sexy status symbol.
E) a reputation in addition to outstanding performance.
Q3) An advantage that a company can use to lever itself to new advantages is called a A) leverageable advantage.
B) competitive advantage.
C) customer advantage.
D) sustainable advantage.
E) channel advantage.
Q4) Define a brand mantra and provide an example of a brand mantra.
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Page 12
Chapter 11: Competitive Dynamics
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Q1) Characterize the four broad strategies often employed by market followers to meet their competitors.
Q2) If a company successfully enters a strategic group, the members of that group become its key allies.
A)True
B)False
Q3) The market nicher is a specialist. Characterize five niche specialist roles that can be assumed by the market nicher, and provide a specific marketer to represent each role.
Q4) A marketing manager of a market challenger-type organization has decided to "leapfrog" competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as being what is called the
A) guerrilla warfare.
B) frontal attack.
C) bypass attack.
D) flank attack.
E) encirclement attack.
Q5) Characterize the typical market leader. Can market leadership be lost?
Q6) How can a firm with low share of the total market become highly profitable?
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Chapter 12: Setting Product Strategy
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Q1) Sellers must label their products. Labels service many purposes beyond just "naming" the product. List the additional services provided by a product's label.
Q2) ________ is the level at which the product's primary characteristics operate.
A) Reparability
B) Conformance quality
C) Performance quality
D) Durability
E) Design
Q3) Many products can be differentiated in terms of ________; the size, shape, or physical structure.
A) reliability
B) conformance quality
C) design
D) form
E) performance quality
Q4) Design offers a potent way to differentiate and position a company's products and services.
A)True
B)False
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Chapter 13: Designing and Managing Services
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Q1) Because services depend on who provides them and when and where they are provided, they are highly
A) consistent.
B) sub-standard.
C) variable.
D) tangible.
E) suspect.
Q2) As you prepare to enjoy a night at the theater, your expectations rise as you listen to the music, read the reviewers comments, and reflect back to the last time you saw the same musical. All of these form your "expected service." If a "gap" were to exist, it would exist here between your "expected service" and the ________ of the performance.
A) management perception
B) external communication
C) perceived service
D) service-quality specifications
E) actual quality
Q3) When a consumer buys a piece of equipment, such as a lawn tractor, they consider the life-cycle cost of the equipment. Explain what is meant by "life-cycle" cost?
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Chapter 14: Developing Pricing Strategies and Programs
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Q1) If demand changes considerably with a small change in price, we say that the demand is elastic.
A)True
B)False
Q2) Companies sometimes initiate price cuts in a drive to dominate the market through lower costs.
A)True
B)False
Q3) If demand changes considerably, we say that the demand is
A) marginal.
B) consistent.
C) inelastic.
D) elastic.
E) equal.
Q4) What are the different types of promotional pricing?
Q5) Discount pricing, is when companies adjust their list prices, and give discounts and allowance for early payments, volume purchases, and off-season buying.
A)True
B)False
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Chapter 15: Designing and Managing Integrated Marketing
Channels
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Q1) One of the chief roles of marketing channels is to convert potential buyers into profitable
A) sales.
B) customers.
C) marketers.
D) orders.
E) consumers.
Q2) A ________ consists of independent firms at different levels of production and distribution integrating their programs on a contractual basis to obtain more economies or sales impact than they could achieve alone.
A) distributor VMS
B) conventional channel
C) contractual VMS
D) administered VMS
E) vertical marketing system
Q3) Comment on the potential of M-commerce.
Q4) The ability of a shopper of laundry detergents to visit a grocery retailer and see a wide variety of brands, sizes, and units for purchase is an example of what elements of the channel service output?
Page 17
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Chapter 16: Managing Retailing, Wholesaling, and Logistics
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Q1) As a sales representative for a major food manufacturer your largest customer has asked you to provide him with a product that meets the following definition: it must not contain any brand name, be plainly packaged, use less expensive ingredients, can use lower-quality raw products in its makeup, and does not allocate any funds for advertising and promotion. What type of product is your buyer describing that he wants from you?
A) house
B) reseller brand
C) generic
D) private label
E) store brand
Q2) Nonstore retailing has not been growing as fast as traditional store retailing.
A)True
B)False
Q3) As a retailer, you have decided on your product assortment strategy but now you must establish merchandise sources, policies, and practices. You have decided to "copy" the format for merchandising commonly found in supermarket chains. List this merchandising structure.
Q4) Sony calls it SOMO, "sell-one, make one". Relate SOMO to the need to keep inventory costs low.
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Chapter 17: Designing and Managing Integrated Marketing Communications
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Q1) In introducing a new natural energy drink to the casual athlete market, you have been asked to prepare a promotion budget using the objective-and-task method. What would be your first step in this process?
Q2) Companies must consider several factors in developing their communications mix: type of product market, consumer readiness to make a purchase, and the stage in the A) product life cycle.
B) buying process.
C) marketing channel.
D) advertising mix.
E) marketing mix.
Q3) Companies must consider several factors in developing their communications mix: the type of product market, consumer readiness to make a purchase, and stage in the product's life cycle.
A)True
B)False
Q4) In describing the experience of use (Pringles advertised "Once You Pop, the Fun Don't Stop") we are describing a non-product benefit or image. This is the definition of what type of appeal?
Page 19
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Q1) Marketing Public Relations (MPR) supports corporate or product promotion and image making and plays a crucial role in
A) creating publicity.
B) protecting the company from liabilities.
C) securing free ad spaces.
D) building a word of mouth campaign.
E) repositioning a mature product.
Q2) Advertising typically builds brand loyalty and sales promotions weaken brand loyalty.
A)True
B)False
Q3) A food ad in Canadian Living would have a higher impact than in Canadian Business. Explain the concept of "impact."
Q4) In designing and evaluating an ad campaign, it is important to develop the message strategy and the "messenger."
A)True
B)False
Page 20
Q5) Dannon is introducing a new low-carb yogurt. Which form of advertising, informative or persuasive, should they employ and why?
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Chapter 19: Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and
Personal Selling
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Q1) One of the great advantages of direct marketing is the ability to test, under real marketplace conditions, different elements of an offer strategy. The response rate is only a part of the campaign's impact. Suppose an insurance company collects a 1.5% response to their direct mail program. What else may they have achieved, beyond the new orders?
Q2) Direct marketers seek a measurable response, typically a customer order. This is sometimes called
A) direct-access marketing.
B) direct-order marketing.
C) first time ordering.
D) benchmarking.
E) direct marketing.
Q3) List the ways television is used by direct marketers and provide a marketer example for each.
Q4) One of the important guidelines for conducting an e-mail campaign is to give the customer a reason to respond.
A)True
B)False
Q5) Explain viral marketing and buzz marketing. Page 22
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Chapter 20: Introducing New Marketing Offerings
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Q1) You have been asked to participate in an idea generating session. The moderator gives you the following directions: "List the attributes of the object in front of you (a cup), now modify each attribute, by replacing each attribute with another." You are participating in what kind of creativity techniques.
A) morphological analysis
B) reverse assumption analysis
C) attribute listing
D) mind mapping
E) forced relationships
Q2) Employees can be a source of ideas for improving ________, products and services. Toyota claims its employees submit 2 million ideas annually, over 85 percent of which are implemented.
A) customer relations
B) revenue
C) advertising
D) production
E) marketing
Q3) New products fail at a disturbing rate, even to the best of companies, such as FedEx, RCA, and DuPont. List the reasons why new products can.
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Chapter 21: Tapping into Global Markets
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Q1) Last stage in the internationalizatin process is estalishment of one or more sales subsidiaries.
A)True
B)False
Q2) In licensing, the licensor issues a license to a foreign company to use an item of value for a fee or royalty.
A)True
B)False
Q3) Hofstede identifies four cultural dimensions that can differentiate countries. These are individualism versus collectivism, high versus low power distances, ________, and weak versus strong uncertainty avoidance.
A) masculine versus feminine
B) total quality management versus JIT deliveries.
C) customer relationship management versus power distances.
D) strategic management versus marketing management.
E) marketing management versus customer relationships.
Q4) Hallmark cards failed when they were introduced in France. How could an adapted marketing program have helped to make Hallmark more successful in this foreign market.?
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Chapter 22: Managing a Holistic Marketing Organization
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Q1) Many companies don't really know how their customers and dealers see them.
A)True
B)False
Q2) When customers fall into different user groups with distinct buying preferences and practices, a ________ is desirable.
A) product-management organization
B) flattened organization
C) market-management organization
D) BAMT organization
E) brand-management organization
Q3) The latest study of customers is three years old, customers are not buying your product like they once did, competitors' products are selling better, and there is a high level of customer returns and complaints. What deadly sin has your company committed? What is the solution?
Q4) The main advantage of a functional marketing organization is its
A) administrative simplicity.
B) increased work load requirements.
C) reduced staff requirements.
D) ease of reporting.
E) overlapping responsibilities.
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