Marketing Strategy Practice Questions
Course Introduction
Marketing Strategy explores the principles and processes involved in developing, implementing, and evaluating effective marketing plans to achieve organizational objectives. The course examines strategic market analysis, segmentation, targeting, positioning, and the integration of product, price, promotion, and distribution decisions. Students will analyze real-world case studies, assess competitive environments, and apply strategic frameworks to create well-informed marketing strategies. Emphasis is placed on aligning marketing initiatives with overall business goals, navigating dynamic market trends, and leveraging digital and traditional marketing channels to maximize value for customers and organizations.
Recommended Textbook
Contemporary Marketing 17th Edition by Louis
E. Boone
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21 Chapters
4577 Verified Questions
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Page 2
Chapter 1: Marketing: the Art and Science of Satisfying Customers
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242 Verified Questions
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Sample Questions
Q1) Financing is one of the _____ functions of marketing.
A)exchange
B)distribution
C)decisional
D)facilitating
Answer: D
Q2) Interactive promotions put customers in control because they can gain immediate access to key product information when they want it.
A)True
B)False
Answer: True
Q3) The marketing era is the successive historical outcome of the production era. A)True
B)False
Answer: False
Q4) The private sector has an even greater array of not-for-profit organizations than the public sector.
A)True
B)False
Answer: True
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Chapter 2: Strategic Planning in Contemporary Marketing
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Sample Questions
Q1) Strategic business units are key business units within small companies that offer only a few items to its customers.
A)True
B)False
Answer: False
Q2) Which of the following would qualify as an example of a firm's weakness?
A)A bill passed by the government regarding the work timings of all organizations
B)A competitor planning to open a new branch close to the firm's place of operations
C)The firm's failure to pay its taxes on time leading to a poor reputation in the market
D)A ban imposed on the use of animals for testing cosmetics
Answer: C
Q3) Organizations within the same industry usually have the same mission.
A)True
B)False
Answer: False
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Chapter 3: The Marketing Environment, ethics, and Social Responsibility
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Sample Questions
Q1) You are creating an ethics compliance program for your corporation.Which of the following issues is it unnecessary for you to address?
A)Exclusive territories
B)Product warranties
C)Price fixing
D)Cannibalization
E)Promotional allowances
Answer: D
Q2) Marketers are constantly challenged by the dynamic forces operating in the marketing environment.However,with the right approach this dynamic environment can be tamed enough to make it possible to implement effective marketing strategies.The marketer who successfully achieves organizational objectives by predicting and influencing the five components of the marketing environment is doing which of the following:
A)Environmental scanning
B)Risk management
C)Porter's Five Forces modelling
D)SWOT Analysis
E)Environmental management
Answer: E
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Chapter 4: Social Media: Living in the Connected World
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Sample Questions
Q1) As usage of social media marketing continues to increase,marketers are learning that content is a big key to success of any campaign.More specifically,they understand that an effective social media marketing campaign (SMM)has which of the following qualities:
A)The chosen keywords in the campaign are targeted specifically for the campaign.
B)The campaign's main focus is to get the consumer to make a purchase immediately..
C)The campaign emphasizes the company's privacy policy.
D)The campaign avoids offering any discounts or other deals in exchange for the consumer's participation.
E)The campaign has text only..
Q2) A blogging site is a social media platform where users post news items and hold conversations on specified topics.
A)True
B)False
Q3) Marketers select monitoring tools based on the needs of their own firms.
A)True
B)False
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6
Chapter 5: E-Business: Managing the Customer Experience
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Sample Questions
Q1) Using the Internet to build communities helps companies find other organizations that may be interested in forming an alliance.
A)True
B)False
Q2) The conversion rate is a basic measurement of the percentage of visitors to a website who make purchases at the site.
A)True
B)False
Q3) The first step in creating an effective website is to:
A)create an eye-catching home page.
B)establish the layout of the website.
C)determine the tools to be used and their graphical content.
D)understand the purpose of the site.
Q4) Online communities facilitate B2B marketing.
A)True
B)False
Q5) Why is privacy a major concern for consumers? What are the measures taken by online marketers to assuage such fears?
Q6) What is e-procurement? What are its benefits?
Page 7
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Chapter 6: Consumer Behavior
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Sample Questions
Q1) Marketers can attempt to shape the outcome of the post purchase evaluation by:
A)helping consumers to identify potential problems or needs.
B)offering personal assistance with any problem experienced with the product.
C)attempting to convince consumers that a competing brand does not meet their criteria.
D)trying to get consumers to expand their evoked sets to include their product.
Q2) Which of the following is a low-involvement product?
A)Cars
B)Laptops
C)Stationery
D)Jewelry
Q3) A motive is an inner state that directs a person to create:
A)equilibrium between the actual and desired states.
B)excitement in attaining the need satisfaction.
C)equity between the cost and benefits of the need satisfaction.
D)a sense of cognitive dissonance in the process of need satisfaction.
Q4) What are subcultures? Why should marketers pay attention to subcultures?
Q5) Discuss Maslow's hierarchy of needs and list a product that can be promoted to fulfill each of the different levels of needs.
Q6) Differentiate between a need and a motive.
Page 8
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Chapter 7: Business-To-Business B2bmarketing
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Sample Questions
Q1) Which of the following service sectors was newly created by the NAICS to better reflect the economy of the 21st century?
A)Healthcare and social assistance
B)Finance, insurance, and real-estate services
C)Public administration
D)Wholesale and retail trade
Q2) Connor is an account manager or sales representative with Sherwin Williams.He typically calls on facility managers in hospitals,office buildings,apartment complexes and schools to discuss their paint and specialty coating needs.He's talking with his aunt at Thanksgiving and trying to explain the difference between his role as a sales representative and the counter or inside sales representative that his aunt might encounter within the Sherwin Williams retail store.Which of the following characteristics might be true for Connor in his role as a B2B sales representative with Sherwin Williams?
A)Connor's relationships with customers would last longer
B)Connor's customers can quickly make decisions
C)The purchasing decision for Connor's customers is very simple
D)Connor typically works with only one person or decision-maker withing the buying organization
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Chapter 8: Global Marketing
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Sample Questions
Q1) Britney and Sam will be getting married in Bermuda and have started planning their destination wedding.They would like to serve wine and champagne before the wedding in their suite for their friends and family and thought they might bring 4 to 6 bottles of their favorite California wine.However,they were discussing this with the on-site wedding planner and she told them that they were allowed to enter the country with 1 bottle of wine each and any additional bottles would incur a charge of $10.63.What is the term for the additional charge that Bermuda could charge Britney and Sam for the additional bottles of wine?
A)tariff
B)import quota
C)trade embargo
D)export quota
Q2) Which of the following factors is most likely to be included in political environment?
A)Inflation levels in different countries
B)Labor conditions in different countries
C)Exchange rate fluctuations in a country
D)Level of natural resources in a country
Q3) List out the factors that make United States an attractive market for foreign companies.
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Page 10
Chapter 9: Market Segmentation, targeting, and Positioning
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Sample Questions
Q1) Kyle plans to buy new tires for a car that his family uses for camping trips.These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company.The tires that Kyle will buy for his car can be classified as _____ products.
A)business
B)service
C)MRO
D)consumer
Q2) The tendency of members of a generation with common characteristics to be influenced and bound together by significant events occurring during their key formative years is called the _____.
Q3) Which of the following changes is seen as a result of a rise in households with only one person?
A)Increase in apartment building developments
B)Decrease in the average size of new cars
C)Decrease in the marketing of vacations
D)Increase in single-serve food products
Q4) Who are the Baby Boomers? Why do marketers target this segment of the population?
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Chapter 10: Marketing Research in the Era of Big Data
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236 Flashcards
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Sample Questions
Q1) The response rates for mail questionnaires are much higher compared to personal interviews.
A)True
B)False
Q2) Firms conduct marketing cost analysis to determine:
A)the appropriate levels of market capitalization.
B)the current levels of corporate assets and liabilities.
C)the profitability of certain customers, territories, or product lines.
D)the marketing strategies of its competitors.
Q3) Because of a variety of cultural,geographic,regulatory,and social issues,international marketing can pose unique challenges to the marketer.Many of these challenges can be mitigated by an effective internationally oriented marketing research effort. International marketing research can help a company____________________.
A)avoid product formulation errors
B)develop the most effective logistics systems
C)eliminate product manufacturing inefficiencies
D)guarantee the success of its marketing strategies
E)improve a company's labor relations in foreign markets
Q4) What is data mining? How does it help marketers in decision making?
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Chapter 11: Relationship Marketing and Customer
Relationship Management Crm
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Sample Questions
Q1) Which of the following concepts forms the basis of buzz marketing?
A)Elasticity of demand
B)Word-of-mouth
C)Employee empowerment
D)Long-term product viability
Q2) Electronic data interchange (EDI)involves computer-to-computer exchanges of invoices,orders,and other business documents.
A)True
B)False
Q3) Briefly explain the three levels of relationship marketing.
Q4) Which of the following statements is true about CRM systems?
A)They do not allow for centralized data.
B)They create partnerships with customers.
C)Customers are not empowered.
D)Customer retention and loyalty is diminished.
E)They are usually successful even without sales and service employees input.
Q5) The grassroots marketing approach relies on conventional and traditional marketing strategies.
A)True
B)False
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Chapter 12: Product and Service Strategies
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Sample Questions
Q1) Marketers typically measure product mixes according to width,length,and depth.
A)True
B)False
Q2) When Apple launched the iPod it quickly became the most popular digital music player on the market and dominated sales.Now,sales of the iPod are lower as more consumers adopt smart phone devices which enable them to store and listen to music.What stage of the product life characterizes the iPod?
A)decline
B)maturity
C)introduction
D)growth
Q3) According to retailers,the purpose of slotting allowances is to cover their losses if products don't sell.
A)True
B)False
Q4) Hershey's introduction of a sugar-free version of its candy bar is an example of line extension.
A)True
B)False
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Chapter 13: Developing and Managing Brand and Product Categories
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Sample Questions
Q1) The term _____ is used by marketers to refer to the visual components that contribute to the overall look of a brand.
A)water mark
B)brand token
C)service mark
D)trade dress
Q2) A _____ strategy concentrates on finding new markets for existing products.
A)market penetration
B)market development
C)product development
D)product diversification
Q3) The process by which new goods or services are accepted in the marketplace is known as the _____ process.
A)extension
B)referencing
C)diffusion
D)polarization
Q4) Private labels typically provide better profit margins than captive brands.
A)True
B)False
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Chapter 14: Marketing Channels and Supply Chain Management
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Sample Questions
Q1) Motor carriers concentrate on shipping raw materials while railroads typically haul bulk shipments of manufactured products.
A)True
B)False
Q2) Jesse would never have thought that his own trademarked children's toys would be flooding a parallel market and competing against him.Now he needs to contact his attorney to see what remedy he has in order to mitigate his damages.What kind of marketing channel conflict is Jesse experiencing? Select the best answer from the choices below.
A)horizontal conflict
B)dual conflict
C)marketing channel conflict
D)gray market conflict
E)vertical conflict
Q3) What is a vertical marketing system? Distinguish between forward integration and backward integration.
Q4) Discuss the three classes of freight carriers.
Q5) Discuss the two categories of channel conflict.Give an example of each.
Q6) Define distribution intensity and explain its three levels.
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Chapter 15: Retailers, wholesalers, and Direct Marketers
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Sample Questions
Q1) Discuss the pricing strategies used by retailers to attract consumers.
Q2) Sales offices carry inventory and process orders for customers from available stock.
A)True
B)False
Q3) Lifestyle centers seek to offer the intimacy and easy access of neighborhood village retailing with a fashionable cachet.
A)True
B)False
Q4) Which of the following terms refers to the amount by which a retailer reduces the original selling price of a product?
A)Depreciation
B)Switching cost
C)Underwriting
D)Markdown
Q5) Wholesaling intermediaries tend to reduce the number of transactions between buyers and sellers.
A)True
B)False
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Chapter 16: Integrated Marketing Communications, advertising,
and Public Relations
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Sample Questions
Q1) An apparel marketer pays a percentage of the cost of a retail store's newspaper advertisement featuring its product lines.This is an example of:
A)comparative advertising.
B)cost-effective advertising.
C)budget advertising.
D)cooperative advertising.
Q2) When a fast food restaurant chain joins with a movie studio to promote a new film,it is an example of cross-promotion.
A)True
B)False
Q3) Successful implementation of IMC requires that everyone involved in every aspect of promotion function as a team,presenting a consistent,coordinated effort at every point of customer contact.
A)True
B)False
Q4) Discuss the major types of advertising media.
Q5) Why do marketers sometimes use guerrilla marketing? What are some of the drawbacks of using a guerrilla marketing strategy?
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Chapter 17: Personal Selling and Sales Promotion
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Sample Questions
Q1) Chelsey is an account executive with Enterprise Rent-A-Car and works with body shop and automotive service providers as well as insurance agents.Chelsey knows that many automobile owners have car rental riders as part of their automobile insurance and when their car is damaged from a storm or accident,they could receive a rental car while their vehicle is being repaired.When Chelsey meets with her customers,she typically promotes the features and benefits of Enterprise such as how Enterprise provides exceptional service and goes above and beyond to pick-up customers at their preferred location and give them their rental vehicle.In addition,most of Enterprise's fleet of vehicles are less than 2 years old and are well maintained to provide a comfortable driving experience.Chelsey tells her agent and body shop owner clients that by using Enterprise's services,their customers will have higher levels of customer satisfaction with their repair experience and that translates into loyalty for the insurance agent.During which step in the personal selling process will Chelsey share this information?
A)presentation
B)demonstration
C)prospecting
D)closing
Q2) How has the role of a salesperson in a firm's promotional activities changed over the years?
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Page 19
Chapter 18: Pricing Concepts
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Sample Questions
Q1) Statutes enacted in most states that once permitted manufacturers to stipulate a minimum retail price for their product are called _____.
A)fair-trade laws
B)tax-exemption laws
C)price discrimination laws
D)loss-leader laws
Q2) Explain market-share objectives.
Q3) Modified breakeven analysis combines the traditional breakeven analysis model with an evaluation of advertising effectiveness to influence consumer purchases.
A)True
B)False
Q4) Pricing objectives that seek sales maximization or achievement of a stated market share are examples of _____ objectives.
A)profitability
B)volume
C)meeting competition
D)prestige
Q5) Identify and briefly describe the legal constraints placed on pricing.
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Chapter 19: Pricing Strategies
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Sample Questions
Q1) A standard worldwide pricing policy is more likely to succeed in foreign markets with high marketing costs.
A)True
B)False
Q2) Explain everyday low pricing.
Q3) ADS stores,a supermarket chain,receives discounts from its suppliers for the bulk purchases of the merchandise at its stores.This is an example of a _____ discount.
A)cash
B)trade
C)quantity
D)functional
Q4) While stocking the shelves with a new soup,the store manager notes a difference in price between the 16-ounce can and the 32-ounce can.Which type of pricing strategy is the soup manufacturer using?
A)unit pricing
B)odd pricing
C)price flexibility
D)promotional pricing
E)product-line pricing
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Chapter 20: Developing an Effective Marketing Plan
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Sample Questions
Q1) Which of the following is used to identify the firm's strengths,weaknesses,opportunities,and threats within the marketing environment?
A)Business portfolio analysis
B)Breakeven analysis
C)SWOT analysis
D)Marginal analysis
Q2) A firm's marketers must write a marketing plan before formulating an overall marketing strategy.
A)True
B)False
Q3) What are the reasons a company should develop a marketing plan?
Q4) Which of the following focuses on the environment in which the marketing plan is to be implemented?
A)Production plan
B)Competitive analysis
C)Mission statement
D)Executive summary
Q5) Describe the different components of a business plan.
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Chapter 21: Financial Analysis in Marketing
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Sample Questions
Q1) An income statement is a snapshot of what a company owns (called assets)and what it owes (called liabilities)at a point in time.
A)True
B)False
Q2) Venus Inc.,a software consulting firm,had made a gross profit of $350.0 million for the year 2012.For the same year,it had made sales of $890.0 million.What was its gross profit margin?
A)69.32%
B)59.32%
C)49.32%
D)39.32%
Q3) All successful organizations have the same inventory turnover ratio.
A)True B)False
Q4) A balance sheet contains more marketing-related information than an income statement.
A)True
B)False
Q5) Explain the difference between an income statement and a balance sheet.
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