Marketing Strategy
Question Bank
Course Introduction
Marketing Strategy explores the frameworks, tools, and decision-making processes that organizations use to create and sustain a competitive advantage in dynamic markets. The course examines the analysis of customer needs, competitor activities, and the external environment to formulate effective marketing strategies. Students learn to segment markets, position products, manage brand portfolios, and allocate resources across marketing mix elements. Real-world case studies and projects provide hands-on experience in developing, implementing, and evaluating marketing strategies in diverse industries, preparing students to address both short-term challenges and long-term growth objectives.
Recommended Textbook
Marketing 13th Edition by Roger Kerin
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6443 Flashcards
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Page 2
Chapter 1: Creating Customer Relationships and Value
Through Marketing
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240 Verified Questions
240 Flashcards
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Sample Questions
Q1) Which of the following is not an environmental force?
A)technological
B)regulatory
C)ecological
D)competitive
E)economic
Answer: C
Q2) FreshCase packaging is the first-ever vacuum package for red meat that maintains the meat's appetizing color, reducing both food and plastic waste. This is an example of creating __________ utility in the case-ready meat category.
A)time
B)place
C)form
D)possession
E)market
Answer: C
Q3) What are the three components of a person's ability to buy an offering?
Answer: The three components of a person's ability to buy an offering are authority, time, and money.
Page 3
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Chapter 2: Developing Successful Organizational and Marketing Strategies
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Sample Questions
Q1) Netflix is a company that rents DVD movies and television either by mail or streaming over the Internet. It jumped into an industry where there were many competitors, both local and national video stores. Initially, it established a loyal clientele by providing a service that was not available-reliable and fast shipment. Its delivery system created Netflix's
A)viable mission.
B)competitive advantage.
C)tactical innovation.
D)core benefit.
E)sales orientation.
Answer: B
Q2) IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of
A)innovation group.
B)business consortium.
C)tactical group.
D)SWOT team.
E)cross-functional team.
Answer: E
4
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Chapter 3: Scanning the Marketing Environment
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Sample Questions
Q1) Generation X consumers indicate they want online customer support; websites that are comprehensive, professional, and interactive; and advertising that is authentic, family-oriented, and unique. Generation X is also replacing baby boomers as the largest segment of business travelers. In response, American Airlines is offering travelers in-flight Wi-Fi, entertainment on demand, and personal power ports. This is an example of how __________ forces impact the marketing environment.
A)economic
B)competitive
C)social
D)technological
E)regulatory
Answer: C
Q2) Barriers to entry refer to
A)pure competition from many new firms.
B)the likelihood of new entrants.
C)monopolistic competition.
D)business practices that make it difficult for new firms to enter the market.
E)a megopoly.
Answer: D
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Page 5
Chapter 4: Ethical and Social Responsibility for Sustainable Marketing
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Sample Questions
Q1) When Toysmart.com filed for bankruptcy in June 2000, it listed its customer database as one of its assets even though it had assured its customers it would never disclose their information to any third party. People who had purchased products from Toysmart and were a part of its database were upset when they learned their private information was being treated as property that was for sale. These customers believed that according to the Consumer Bill of Rights, they should know how their private information would be used. In other words, Toysmart's former customers had a right to A)choose.
B)be informed.
C)be heard.
D)safety.
E)happiness.
Q2) The Children's Online Privacy Protection Act (1998) is a law designed to protect consumers' right to A)choose.
B)be informed.
C)be treated courteously.
D)safety.
E)be heard.
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Chapter 5: Understanding Consumer Behavior
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Sample Questions
Q1) Ruth, who has no children, wants to buy a special baby gift for her best friend's baby shower, which is this evening. Since she won't have any time between work and the baby shower, she must go today during her lunch break. She is planning on taking her sister with her to help make the selection. Ruth knows she will be ready to buy every baby-oriented product she sees because she wishes that she too was having a baby. Identify each of the situational influences that are described in this scenario. Which situational influence was not described?
Q2) A consumer's subjective perception of how a product or brand performs on different attributes based on personal experience, advertising, and discussions with other people are referred to as A)values. B)attitudes.
C)beliefs.
D)predispositions.
E)opinions.
Q3) Psychologists point out that an individual's needs may be hierarchical; that is, once one set of needs is met, people seek to satisfy the next set of needs in the hierarchy. Name each of the five levels in the hierarchy in order and give an example of each.
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Chapter 6: Understanding Organizations As Customers
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Sample Questions
Q1) Becca, an office manager for a small construction company, met with representatives from Xerox and Minolta, along with the president and the accountant, to compare options for a new copier for the office. Since she made most of the copies, Becca wanted to see the features of the machines, though her boss would have to approve the final purchase. Becca has what role in the buying center?
A)purchasing agent
B)decider
C)buyer
D)user
E)motivator
Q2) Milsco Manufacturing markets __________ in partnership with its customers.
A)motors
B)braking systems
C)transmissions
D)seats
E)customized wheels
Q3) Explain the differences between independent e-marketplaces and private exchanges.
Q4) Identify and describe the five roles an individual can play in a buying center.
Q5) What are the characteristics of organizational buying behavior?
Page 8
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Chapter 7: Understanding and Reaching Global
Consumers and Markets
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Sample Questions
Q1) Cultural symbols are things that
A)can be protected by international copyrights.
B)cannot be expressed by words or characters.
C)represent values that exist solely within a nation.
D)represent words through the use of pictures or designs.
E)represent ideas and concepts.
Q2) In terms of the global marketplace, there are three primary types of companies: international firms, __________ firms, and transnational firms.
A)large-scale
B)conglomerate
C)intercontinental
D)cosmopolitan
E)multinational
Q3) Those in favor of protectionism argue that it
A)helps reduce tariffs and quotas.
B)encourages the development of domestic industries.
C)encourages economic reliance on foreign countries.
D)creates opportunities for the outsourcing of domestic jobs.
E)creates a more favorable environment for a global economy.
Q4) Explain the difference between dumping and parallel importing.
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Chapter 8: Marketing Research: From Customer Insights to Actions
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Sample Questions
Q1) Marketing information consists of secondary and primary data. Define each of these types of marketing information. Give examples for secondary and primary data.
Q2) National TV ratings, collected with a "people meter" and published by Nielsen, are an example of __________.
A)internal secondary data
B)interactive industry data
C)external secondary data
D)mechanical observational data
E)sensitivity data
Q3) Sampling and statistical inference are special __________, which are vital in marketing research to solve all or part of a problem.
A)systems
B)styles
C)methods
D)manners
E)modes
Q4) What is the difference between a semantic differential scale and a Likert scale?
Q5) What is neuromarketing? What does it do? Why is it important to marketers?
Q6) Briefly explain what a marketing driver is. Give three examples.
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Chapter 9: Market Segmentation Targeting and Positioning
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Q1) Selling a product to a different market segment usually requires a different marketing action that, in turn, means greater costs. If increased revenues don't offset extra costs of this action, a marketer should
A)increase the advertising budget.
B)prune the product offerings.
C)family brand the products.
D)combine segments.
E)group products into categories.
Q2) Recently, U.S. dairies, struggling to increase milk sales, tried to change the way adults thought about chocolate milk. The dairies wanted to __________ chocolate milk in the minds of adult consumers.
A)segment
B)differentiate
C)explain
D)promote
E)reposition
Q3) Why would an organization produce multiple products or services and then attempt to sell them to two or more market segments?
Q4) What are the criteria used to select target markets?
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Chapter 10: Developing New Products and Services
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Sample Questions
Q1) In marketing, an idea is
A)a thought that leads to a product or action.
B)an inspiration that evolved from market research.
C)an observation about a series of events.
D)a concept explaining the behavior of an individual or group.
E)an observation about an individual or group and how they use a service or product.
Q2) You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test-drive different makes and models, and compare prices at several dealerships. Into which classification of consumer products would your new car purchase fall?
A)specialty product
B)unsought product
C)discretionary product
D)shopping product
E)convenience product
Q3) How can a firm use a test market in its new-product development process?
Q4) Briefly define what is meant by a product. Explain the characteristics that would define a product, good, service, and an idea. Give an example of each.
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Page 12
Chapter 11: Managing Successful Products Services and Brands
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Sample Questions
Q1) The central element of the marketing strategy for Pez Candy, Inc., is the A)price.
B)breath mint.
C)availability.
D)container.
E)fulfillment.
Q2) A branding strategy in which a company uses one name for all its products in a product class is referred to as
A)global branding.
B)public branding.
C)multibranding.
D)brand licensing.
E)multiproduct branding.
Q3) Changes in the product characteristically take place in the __________ stage of the product life cycle.
A)introduction
B)maturity
C)decline
D)harvest
E)growth
Page 13
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Chapter 12: Services Marketing
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Sample Questions
Q1) With respect to social marketing, nonprofit organizations should do all of the following except
A)use social media that allow the use of digital photos, video, and gaming skills.
B)allow people to feel like they are doing something.
C)restrict the sharing of information, such as allowing people to share personal stories, due to privacy concerns.
D)have metrics to assess the effectiveness of its social media activities.
E)understand what motivates people to take up causes.
Q2) A situation that occurs when a service provider is available but there is no demand is referred to as
A)off-peak pricing.
B)idle production capacity.
C)static demand.
D)capacity management.
E)excess inventory.
Q3) What role does price play in the managing of services?
Q4) What is internal marketing? Why is it important in services marketing?
Q5) List and explain the key elements of future services.
Q6) What is the difference between intangibility and inseparability of services?
Page 14
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Chapter 13: Building the Price Foundation
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Sample Questions
Q1) A graphic presentation of the break-even analysis that shows when total revenue and total cost intersect to identify profit or loss for a given quantity sold is referred to as a
A)Gantt chart.
B)demand curve.
C)ROI analysis.
D)cross-tabulation.
E)break-even chart.
Q2) Pricing objectives refers to
A)reconciling the prices charged by an organization to the values set forth in its business mission.
B)taking specific steps to capitalize on an organization's internal strengths as they apply to price.
C)specifying the role of price in an organization's marketing and strategic plans.
D)taking specific steps to compensate for an organization's weaknesses as they apply to price.
E)subjectively setting intrinsic values to all products and services offered by an organization.
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Chapter 14: Arriving at the Final Price
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Sample Questions
Q1) The assumption that demand is elastic at a number of price points but is inelastic between these price points leads to which pricing approach?
A)product-line pricing
B)skimming pricing
C)penetration pricing
D)price lining
E)odd-even pricing
Q2) Target profit pricing refers to
A)adjusting the price of a product so it is "in line" with that of its largest competitor.
B)setting an annual target of a specific dollar volume of profit.
C)setting the price of a line of products at a number of different price points.
D)adding a fixed percentage to the cost of all items in a specific product class.
E)setting prices to achieve a profit that is a specified percentage of production costs.
Q3) What are the six major steps involved in setting prices?
Q4) Define the four kinds of uniform delivered pricing methods and give an example of the use of each.
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Page 16
Chapter 15: Managing Marketing Channels and Supply Chains
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Sample Questions
Q1) Dependability is the consistency of replenishment. This is important to all firms in a supply chain and to consumers. It can be broken into three elements: consistent lead time, safe delivery, and
A)complete delivery.
B)honest and accurate pricing.
C)quality products.
D)product warranties.
E)a well-informed delivery staff.
Q2) When a firm tries to place its products or services in as many outlets as possible, the density of distribution is referred to as
A)intensive distribution.
B)extensive distribution.
C)selective distribution.
D)exclusive distribution.
E)concentrated distribution.
Q3) There are three types of contractual vertical marketing systems. List the systems and provide a brief description of each.
Q4) What are some specific cost trade-offs that can be made in a logistics system?
Q5) What are the functions performed by intermediaries?
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Chapter 16: Retailing and Wholesaling
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Sample Questions
Q1) Selling agents are agents that
A)furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers.
B)represent a single producer and are responsible for the entire marketing function of that producer.
C)work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.
D)take title to merchandise but sell only to buyers that call on them, pay cash for merchandise, and furnish their own transportation for the merchandise.
E)sell primarily large bulky products.
Q2) The National Retail Federation estimates that about __________ percent of retail sales is lost to shrinkage.
A)1.4
B)2.0
C)2.4
D)0.3
E)5.0
Q3) What is the retailing mix?
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Chapter 17: Integrated Marketing Communications and Direct Marketing
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Sample Questions
Q1) Traffic generation is
A)the outcome of an offer designed to motivate people to visit a business.
B)the result of offers that contain all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction.
C)direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet.
D)the result of a direct marketing offer designed to generate interest in a product or service and a request for additional information.
E)an increase in the amount of foot traffic in a retail establishment that coincides with a new advertising campaign.
Q2) The promotional mix includes advertising, personal selling, sales promotion, __________, and direct marketing.
A)public relations
B)infomercials
C)merchandising
D)word-of-mouth
E)publicity
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Chapter 18: Advertising Sales Promotion and Public Relations
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Q1) As traditional media have become more expensive and cluttered, advertisers have been attracted to a variety of nontraditional advertising options-in airports, doctors' offices, health clubs, or theaters, which are referred to as
A)remote media.
B)electronic advertising.
C)product placements.
D)cooperative advertising.
E)place-based media.
Q2) One disadvantage of using the yellow pages as an advertising medium is A)there is no similar competition.
B)the ads are perishable.
C)few households with telephones have them.
D)they have high delivery costs.
E)they are difficult to keep up to date.
Q3) What are the two conflicting goals that advertisers face when choosing advertising media? What is the relationship of reach and frequency to these goals?
Q4) List and describe the three types of pretests that can be conducted before advertising is placed in the media.
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Chapter 19: Using Social Media and Mobile Marketing to
Connect With Consumers
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Sample Questions
Q1) Users or members to social networking websites are
A)where a social network's following comes from-with fans coming from a friend being more valuable than those coming from an ad.
B)the total number of unique individuals to a web page in a given time period-counted each time they logon to the site during that period of time.
C)the total number of unique individuals to a web page in a given time period, regardless of how many times they logon to the site during that period of time.
D)individuals who have registered on a social networking site by completing the process involved, such as providing their name, an ID, and a password.
E)the number of people who have opted in to a brand's messages through a social media platform at a given time.
Q2) What are the main ways brand managers can use Twitter?
Q3) What are social media?
Q4) Describe the communications process of both traditional media and social media.
Q5) What is meant by "convergence" of real and digital worlds? What are some of the marketing actions a brand manager can take in the convergence of the real and digital worlds?
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Chapter 20: Personal Selling and Sales Management
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Sample Questions
Q1) Which of the following statements regarding outside order getters is most accurate?
A)Order getters often replenish a retailer's inventories.
B)Order getters handle orders obtained on inbound telemarketing.
C)Order getters typically process reorders for products already sold by the company.
D)Order getter sales calls traditionally require the lowest financial investment from the firm.
E)Order getter sales calls traditionally require the greatest financial investment from the firm.
Q2) Harry goes to the local Staples store to purchase a laptop computer. He asks many questions of the salesclerk, compares various models on display, and decides on the Sony Vaio. The salesperson then recommends to Harry that he should purchase an extended warranty service contract for the computer. This is an example of
A)inquiry selling.
B)formula selling.
C)method selling.
D)suggestive selling.
E)need-satisfaction selling.
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Chapter 21: Implementing Interactive and Multichannel Marketing
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Sample Questions
Q1) What technology term would be used to describe the capability of capturing visitor information to a website such as expressed product preferences, personal data, passwords, and financial information, including credit card numbers?
A)spam
B)spiders
C)loggers
D)cookies
E)trackers
Q2) Promotional websites generate interest in and trial of a company's products and services by
A)providing access to human service representatives to assist in making purchases.
B)accommodating interactive communication initiated by a company's employees, investors, and suppliers.
C)converting online browsers into online buyers.
D)providing information on how items can be used and where they can be purchased.
E)obtaining information on customer preferences and buying habits.
Q3) Define cross-channel consumer, and explain why they are important to marketers.
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Page 23
Chapter 22: Pulling It All Together: the Strategic Marketing Process
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Sample Questions
Q1) What is the primary disadvantage of employing a selective specialization strategy?
A)Gaining market distribution will be costly.
B)The organization may be spread too thin.
C)The organization achieves neither marketing nor manufacturing synergies.
D)R&D-manufacturing has the difficulty of producing multiple new lines.
E)It is too risky for a company to put all its eggs in one basket.
Q2) What is a disruptive innovation? Cite an example.
Q3) When using share points to make marketing resource allocation decisions, marketing managers must estimate: (1) __________, (2) the revenues associated with each point of market, (3) the contribution to overhead and profit (or gross margin) of each share point, and (4) possible cannibalization effects on other products in the line.
A)the market share for the product
B)the number of market segments
C)the total production costs
D)the total financial resources available for a sustained marketing effort
E)the stage of the product in its product life cycle
Q4) List the three phases of the strategic marketing process and the output report for each.
Page 24
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Chapter 23: Financial Aspects of Marketing
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Q1) __________ is a reduction in a retail price that is necessary if the items will not sell at the full selling price to which they have been marked up.
A)Stock turn rate
B)Markdown
C)ROI
D)Markup
E)Net margin
Q2) A retailer of children's clothing had net sales of $72,000. But to get those sales, she had to reduce her prices by $2,000. Calculate her markdown.
A)0.35 percent
B)2.78 percent
C)3.50 percent
D)3.70 percent
E)26.7 percent
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Chapter 24: Building an Effective Marketing Plan
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Q1) A(n) __________ helps communicate the company's unique points of difference of its products to prospective customers in a simple, clear way.
A)positioning strategy
B)market-product grid strategy
C)competition analysis
D)implementation strategy
E)situational analysis
Q2) There is no single generic marketing plan that can apply to all organizations or all institutions. Rather, the specific format for a marketing plan for an organization depends on the following: the target audience and purpose, the kind and complexity of the organization, and
A)the financial investment needed.
B)the time frame.
C)available resources.
D)the industry.
E)the competition.
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