Marketing Strategy
Question Bank
Course Introduction
Marketing Strategy explores the essential principles and frameworks used to analyze, develop, and implement effective marketing plans in both domestic and international contexts. The course covers topics such as market segmentation, target market selection, positioning, competitive analysis, and the integration of the marketing mix to achieve organizational objectives. Through case studies, real-world examples, and strategic planning exercises, students will learn how to assess market opportunities, design value propositions, and formulate strategies that create and sustain competitive advantage in dynamic business environments.
Recommended Textbook
Marketing Management 2nd Edition by Greg W. Marshall
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16 Chapters
1447 Verified Questions
1447 Flashcards
Source URL: https://quizplus.com/study-set/2650
Page 2
Chapter 1: Marketing in Todays Business Milieu
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90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/52872
Sample Questions
Q1) Value may be defined as the ratio of bundled benefits received to the cost incurred by the customer to receive those benefits.____________ is not thought of as one of the costs.
A)Monetary cost
B)Time to shop
C)Skill or expertise
D)Poor service quality
E)Customer satisfaction
Answer: E
Q2) High pressure selling _____________.
A)Is practiced today by many companies
B)Has a marketing orientation
C)Sparked laws to protect consumers
D)Both is practiced today by many companies and sparked laws to protect consumers
E)None of these
Answer: C
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3
Chapter 2: Elements of Marketing Strategy,Planning,and Competition
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) Outbound logistics refer to the distribution of products.
A)True
B)False
Answer: True
Q2) Body Builders Gym's marketing team wants to stay open until 3:00 a.m.The gym currently closes at midnight.Most likely,this would be classified as ________ in Ansoff's Product-Market Matrix.
A)Market diversification
B)Marketing strategy development
C)Market penetration
D)Product development
E)Market development
Answer: C
Q3) The GE Business Screen portfolio model evaluates businesses on the dimensions of market attractiveness and market share.
A)True
B)False Answer: False
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Chapter 3: Manage Marketing Information
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) You run a small automotive supply business that sells to a few large retailers.You want to conduct market research to assess how the companies you sell to feel about the reorder process and your billing system.Because there are so few companies on the list of potential respondents,it would be best to collect data from a __________ of current customers.
A)Probability sample
B)Random sample
C)Convenience sample
D)Nonprobability sample
E)Census
Answer: E
Q2) A company considers _________ as a factor when creating a market information system.
A)Information needs
B)Technology needs
C)Flexibility
D)Diversity
E)Market intelligence
Answer: A
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Page 5
Chapter 4: Understand Business-To-Consumer Markets
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) _____ tends to reinforce existing attitudes and creates a real challenge for marketers trying to overcome negative beliefs and attitudes since people are less likely to be aware of or retain information to the contrary.
A)Selective awareness
B)Selective distortion
C)Selective memory
D)Selective retention
E)Selective hearing
Q2) Attitudes are formed by values and beliefs.Cultural and personal values help form attitudes.
A)True
B)False
Q3) Eye contact,steady breathing,smiling,and swaying are all examples of positive nonverbal communication during a presentation.
A)True
B)False
Q4) Internal factors include personal characteristics and psychological attributes.
A)True
B)False
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Chapter 5: Understand Business-To-Business Markets
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Problem recognition for the business market consumer is triggered by ________.
A)Meeting a new supplier at a trade show
B)Seeing a new product on television
C)Someone inside or outside the company identifying a problem
D)Accepting a cold call by a salesperson
E)Surfing the web
Q2) A buying center is a permanent group of people at a B2B company that decides on each new purchasing decision.It is most common for only one buying center to exist at any time in a company.
A)True
B)False
Q3) B2B transactions have been growing at a phenomenal rate.Online B2B sales worldwide is now in excess of ______________.
A)$100 million
B)$500 million
C)$1 billion
D)$1 trillion
E)None of these
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Chapter 6: Segmentation, target Marketing, Positioning, and CRM
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96 Verified Questions
96 Flashcards
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Sample Questions
Q1) The CRM process cycle may be divided into _____ elements.
A)Four
B)Five
C)Eight
D)Ten
E)Twelve
Q2) An advergame is a video game that _______.
A)Has an advertiser inserted into the game
B)Has sponsors of the game on the cover of the game but not in the game itself
C)Has been specifically designed to promote a brand
D)Has been advertised on television with good results
E)None of these
Q3) Occupational segmentation recognizes that _________.
A)Workplace peers are a strong reference group that influence purchasing decisions
B)What kind of products you buy may be related to the kind of job you have
C)The Bureau of Census gives you good ideas on occupational segments
D)There may be needs and wants demonstrated by consumers based on the job they have
E)All of these.
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Chapter 7: Product Strategy and New-Product Development
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Companies often use features to differentiate themselves from competitors.However,a company must balance the features customers want with
A)What the competition is doing
B)The ability to manufacture the feature in a timely way
C)What they will pay at a given quality level
D)The configurations that make a positive brand look stylish
E)None of these
Q2) An individual moves through five stages before adopting a product.The five stages include all of the following except ____.
A)Awareness
B)Interest
C)Information search
D)Evaluation
E)Adoption
Q3) Everyone in a target market falls into one of five groups based on their willingness to try the innovation,including innovators,early adopters,early majority,late majority,and laggards.
A)True
B)False
Page 9
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Chapter 8: Build the Brand
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) The owners of ABC Medical Equipment has been developing the brand equity of their MRI and CAT scan equipment.Now when someone mentions ABC's machines,radiologists and hospital purchasing agents usually say that they have heard of ABC's offerings and are interested in learning more about them.This response signals a familiarity and potential commitment to the brand.They have achieved the _____ dimension of brand equity.
A)Brand assets
B)Brand association
C)Brand awareness
D)Brand loyalty
E)Perceived quality
Q2) Successful marketing strategy builds quality into only the product in order to validate a price premium.
A)True
B)False
Q3) The strongest form of brand equity that reflects a commitment to repeat purchases is brand loyalty.
A)True
B)False
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Page 10
Chapter 9: Service As the Core Offering
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) When discussing service quality,tangibles refer to _________.
A)The elements of communication that differentiate one service firm from another
B)The handsomeness and/or beauty of the employees
C)The combination of price and quality of the service
D)The physical evidence of a service or observable aspects
E)None of these
Q2) Those who are higher satisfied and fiercely loyal are called _______________.
A)Responsive customers
B)Terrorists
C)Violators
D)Apostles
E)Pioneers
Q3) _________ is not a distinct characteristic of services that is different from physical goods.
A)Variability
B)Perishability
C)Assurance
D)Intangibility
E)Inseparability
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Chapter 10: Manage Pricing Decisions
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) A company's core cost advantages translate directly to an edge over its competitors based on much more flexibility in its __________________ as well as its ability to translate some of the cost savings to the bottom line.
A)Pricing strategies
B)Cost leadership
C)Value ratio
D)Service
E)Quality
Q2) When formulating a response to a competitor's price reduction,remember to consider your offering from the perspective of its overall value proposition to customers.
A)True
B)False
Q3) Regardless of whether the setting is B2C or B2B,the vast majority of costs are associated with the purchase price.
A)True
B)False
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Chapter 11: Manage Marketing Channels and Points of Customer Interface
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) If a seller requires an intermediary to purchase a supplementary product to qualify to purchase the primary product the intermediary wishes to buy,a(n)______________ is in place.
A)Just-in-time (JIT) inventory control system
B)Materials requirement planning (MRP)
C)Exclusive dealing
D)Exclusive territory
E)Tying contract
Q2) ________________ may take the form of sharing important product remembering.
A)Coercive power
B)Reward power
C)Expert power
D)Referent power
E)Legitimate power
Q3) In reality,cutting out intermediaries is always a guarantee of saving consumers money.
A)True
B)False
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Chapter 12: Promotional Strategy and New Media
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89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/52861
Sample Questions
Q1) A ____________ appeal centers on benefits an offering can provide to a customer.
A)Fantasy
B)Rational
C)Desire
D)Lifestyle
E)Slice of life
Q2) A marketing manager wants to have a strong two-way communication of ideas with customers and he considers it to be very important to directly ease customer confusion and persuade purchase.He does not care much about whether the cost per customer contact will be expensive.Based on the manager's consideration,____________ will be the most appropriate promotional form.
A)Advertising
B)Sales promotion
C)Public relations
D)Personal selling
E)Direct marketing
Q3) Internal marketing is the application of marketing concepts and strategies inside an organization.
A)True
B)False
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Chapter 13: Advertising, sales Promotion, and Public Relations
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89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/52860
Sample Questions
Q1) A trade show is an industry- or company-sponsored event in which booths are set up for the dissemination of information about offerings to members of a channel.
A)True
B)False
Q2) Public relations (PR)is a specialized field.
A)True
B)False
Q3) Pioneering advertising tends to be used during the introductory and early growth stages of the PLC.
A)True
B)False
Q4) When targeted to members of a channel on which a firm relies to sell product,_____________ is an important element of a push strategy.
A)Consumer advertising
B)Public relations
C)Personal selling
D)Sales promotion
E)Institutional advertising
Page 15
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Chapter 14: Personal Selling and Direct Marketing
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Direct mail is one of the least expensive direct marketing channels.
A)True
B)False
Q2) One of the most critical aspects to the selling process is not what happens before the purchase decision but what happens after,the follow-up.
A)True
B)False
Q3) ___________________ are a group of resellers such as retailers or distributors with whom the sales force does business.
A)Missionary sellers
B)Solutions sellers
C)Technical sellers
D)Trade servicers
E)All of these
Q4) A commission is a fixed sum of money paid at regular intervals.
A)True
B)False
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Chapter 15: Understand the Global Marketplace: Marketing
Without Borders
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89 Verified Questions
89 Flashcards
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Sample Questions
Q1) U.S.companies that earn more than 50 percent of their revenue from international markets include all but ______________.
A)Starbucks
B)Hewlett-Packard
C)Nike
D)Caterpillar
E)Chevron
Q2) A technology or high-end industrial product company is most likely to use a(n)______ in foreign markets because customers expect the expertise of highly trained,accessible personnel.
A)Broker
B)Export agent
C)Distributor
D)Direct sales force
E)Freight forwarder
Q3) Licensing is a useful form of market entry when companies lack the resources to establish independent operations in foreign markets.
A)True
B)False
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Chapter 16: The Marketing Dashboard: Metrics for Measuring
Marketing Performance
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Sales forecasting methods can only be objective,not subjective.
A)True
B)False
Q2) The budgeting method that relies on gross revenue is known as the ______________ method.
A)Per-unit
B)Objective-and-task
C)Percent-of-sales
D)Comparative-parity
E)All-you-can-afford
Q3) When action plan budgets are aggregated into an overall marketing budget,you can assume the budgeting method used is ________________.
A)Per-unit
B)Percent-of-sales
C)Comparative-parity
D)All-you-can-afford
E)Objective-and-task
Q4) ROMI is the metric du jour for many firms' bottom line.
A)True
B)False
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