Marketing Strategy Review Questions
Course Introduction
Marketing Strategy explores the principles and frameworks essential for designing, implementing, and managing effective marketing strategies in diverse business environments. The course covers market analysis, segmentation, targeting, positioning, competitive analysis, and the development of value propositions. Students learn to integrate product, price, place, and promotion (the 4Ps) to achieve organizational objectives and sustain competitive advantage. Through case studies, real-world applications, and group projects, learners develop skills necessary to analyze dynamic markets, respond to customer needs, and formulate strategic marketing plans that drive business success.
Recommended Textbook
MKTG6 6th Edition by Charles W. Lamb
Available Study Resources on Quizplus
22 Chapters
3901 Verified Questions
3901 Flashcards
Source URL: https://quizplus.com/study-set/1083 Page 2
Chapter 1: An Overview of Marketing
Available Study Resources on Quizplus for this Chatper
180 Verified Questions
180 Flashcards
Source URL: https://quizplus.com/quiz/21383
Sample Questions
Q1) Otis places an ad in the local newspaper stating that his used Chevrolet is for sale for $4000.Unfortunately,no one purchased Otis's used car.Therefore,he did not engage in marketing.
A)True
B)False Answer: False
Q2) Refer to Circuses.Now circuses are trying to satisfy customers' needs and wants and to profit through customer satisfaction.They have adopted a _____ orientation.
A)societal
B)selling
C)production
D)market
E)retail
Answer: D
Q3) The societal marketing concept considers society's long-term best interests along with the satisfaction of customers' wants and needs.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Strategic Planning for Competitive Advantage
Available Study Resources on Quizplus for this Chatper
216 Verified Questions
216 Flashcards
Source URL: https://quizplus.com/quiz/21384
Sample Questions
Q1) An essential part of marketing strategy is target market strategy.Selection of target market(s)drives marketing objectives and selection of the marketing mix (the four Ps).What are the three general strategies for selecting target markets?
Answer: The strategies are to: 11ea3e00_80cb_9868_9d7a_3f4dce94be2d_TB4561_00
Q2) Unlike other companies,Mary Kay must compete with other direct-selling firms for ____________ from a business-to-business perspective.
A)beauty care product customers
B)the same demographic segments
C)a largely female demographic
D)its beauty consultants
E)none of the above
Answer: D
Q3) The four Ps of the marketing mix are product,planning,promotion,and price.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
4
Chapter 3: Ethics and Social Responsibility
Available Study Resources on Quizplus for this Chatper
95 Verified Questions
95 Flashcards
Source URL: https://quizplus.com/quiz/21385
Sample Questions
Q1) Corporate social responsibility is defined as the:
A)belief that the legal system defines ethical behavior
B)development of inclusive codes of ethics
C)rules by which social rewards are attained
D)business's concern for society's welfare
E)coordination of social programs for publicity purposes
Answer: D
Q2) Like many other professional organizations and businesses,the American Marketing Association has developed a formal,written guideline to help its members make better ethical decisions.This document is called a:
A)behavioral practice
B)moral ruling
C)code of ethics
D)direction of value
E)principled regulation
Answer: C
Q3) Morals are rules people develop as a result of cultural values and norms.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: The Marketing Environment
Available Study Resources on Quizplus for this Chatper
163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/21386
Sample Questions
Q1) CUTCO is the channel member with channel control and power over the student sales force.
A)True
B)False
Q2) Merissa Champlain designs and sells clothes for young working women.Her marketing managers recently told her that she'll be in financial trouble unless she starts designing clothes suited to Gen Yers.Why is this?
A)Gen Yers are picky.
B)Gen Yers are more multicultural.
C)Baby boomers provide all of the disposable income for Gen Y members.
D)Demographically,Gen Yers are an extremely large group of consumers.
E)Gen Yers are easily swayed by traditional promotion media.
Q3) Which of the following nonstore outlets would best describe Microsoft's mode of selling Angry Birds?
A)automatic vending
B)online retailing
C)online vending machine
D)direct retailing
E)none of the above since an app store is a store
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Developing a Global Vision
Available Study Resources on Quizplus for this Chatper
189 Verified Questions
189 Flashcards
Source URL: https://quizplus.com/quiz/21387
Sample Questions
Q1) A business thinking of expanding into global markets needs to examine all of the following external environments EXCEPT:
A)Culture.
B)political structure and actions.
C)its marketing mix.
D)natural resources.
E)demographic makeup.
Q2) Describe the four stages of business globalization.Why do most companies stop when they reach the third stage?
Q3) Define and describe exporting.Briefly describe the three types of export intermediaries.
Q4) DeFeet International creates its apparel in North Carolina and sells it domestically and abroad.The company is in which stage of global business?
A)Stage one
B)Stage two
C)Stage three
D)Stage four
E)Stage five
Q5) Why is developing a global vision important for firms in the United States?
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Consumer Decision Making
Available Study Resources on Quizplus for this Chatper
220 Verified Questions
220 Flashcards
Source URL: https://quizplus.com/quiz/21388
Sample Questions
Q1) What is extensive decision making? Discuss the purchase of a product in which you would use extensive decision making when purchased for the first time and would require limited decision making in subsequent purchases.
Q2) As a marketing tool in the United States,social class:
A)is useful for lifestyle distinctions between groups.
B)is just a simple measure of income level.
C)offers few insights concerning consumer behavior.
D)is not used because the United States is a classless society.
E)has demonstrated that all classes of consumers shop in the same stores.
Q3) What is the difference between culture and subculture? Why do marketing managers need to understand culture and subculture?
Q4) The combination of apps and smartphones eliminates __________.The cultural impact of this is that consumers and marketers interact in situations where a purchase would be unthinkable before.
A)downtime
B)driving
C)closed stores
D)in-store browsing
E)comparison shopping
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Business Marketing
Available Study Resources on Quizplus for this Chatper
227 Verified Questions
227 Flashcards
Source URL: https://quizplus.com/quiz/21389
Sample Questions
Q1) A cooperative agreement between business firms is called a:
A)shared capital contract.
B)global partner development strategy.
C)strategic alliance.
D)joint contract.
E)comarketing effort.
Q2) All of the following are demand characteristics of business markets EXCEPT:
A)inelastic demand.
B)fluctuating demand.
C)joint demand.
D)stable demand.
E)derived demand.
Q3) What is a strategic alliance? How is it linked to relationship marketing?
Q4) The use of the Internet to facilitate activities between organizations has evolved and grown rapidly throughout its short history.Define B2B e-commerce and describe the various tools that B-to-B marketers are using online.Also discuss the evolution of e-business initiatives.
Q5) Lyon College sees Facebook as an indispensible means of interaction.
A)True
B)False
9
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Segmenting and Targeting Markets
Available Study Resources on Quizplus for this Chatper
217 Verified Questions
217 Flashcards
Source URL: https://quizplus.com/quiz/21390
Sample Questions
Q1) What are the four criteria that are necessary to define a market?
Q2) Karry-Lite,the manufacturer of light-weight suitcases with wheels,uses as its slogan,"Takes the 'lug' out of luggage." This slogan illustrates the use of _____ segmentation.
A)geodemographic
B)benefit
C)functional
D)usage-rate
E)feature-based
Q3) Kraft Foods plans to tailor different ads for different neighborhoods in the same region.For example,viewers watching a cable show in a Hispanic neighborhood in Chicago would see different ads during the same commercial breaks as non-Hispanics living in a different neighborhood.Kraft's strategy best exemplifies _____ segmentation.
A)sociocultural
B)lifestyle
C)cluster benefit
D)geodemographic
E)systematic geographic
Q4) List,in correct order,the steps in segmenting a market.
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Decision Support Systems and Marketing Research
Available Study Resources on Quizplus for this Chatper
189 Verified Questions
189 Flashcards
Source URL: https://quizplus.com/quiz/21391
Sample Questions
Q1) Los Hermanos Cafe has successfully operated seven restaurants in the same community for 20 years.Management plans to introduce an egg and cheese breakfast burrito to three restaurants after having success with this product in its other four restaurants.Since management knows this market so well,Los Hermanos Cafe doesn't need to conduct research before introducing the new product in its remaining restaurants.
A)True
B)False
Q2) Refer to Callaway Golf Co.Callaway used its contacts at golf courses around the country to find the 40 women for its study.The 40 women would most likely be called a _____ sample.
A)systematic
B)convenience
C)cluster
D)stratified
E)random
Q3) What is a marketing research aggregator? Discuss the role of aggregator firms in marketing research.
Q4) What is competitive intelligence? Discuss how it is used and provide an example.
Page 11
Q5) List five noncomputer sources of competitive intelligence.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Product Concepts
Available Study Resources on Quizplus for this Chatper
195 Verified Questions
195 Flashcards
Source URL: https://quizplus.com/quiz/21392
Sample Questions
Q1) Inez believes that makeup is the most important part of her wardrobe.She spends considerable time comparing the prices,skin tones,and color options available at various cosmetics counters in department stores.For Inez,makeup is a convenience product.
A)True
B)False
Q2) Which of the following may qualify for trademark protection?
A)Shapes,such as the Coca-Cola bottle
B)Catchy phrases,such as "Every kiss begins with Kay"
C)Abbreviations,such as Bud
D)Sounds,such as Intel's famous five-note jingle
E)All of the above.
Q3) RockTenn produces cardboard cartons to be used by companies in the food industry.RockTenn is selling _____ products.
A)specialty
B)consumer
C)business
D)convenience
E)unsought
Q4) How would a marketer define the term product?
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Developing and Managing Products
Available Study Resources on Quizplus for this Chatper
173 Verified Questions
173 Flashcards
Source URL: https://quizplus.com/quiz/21393
Sample Questions
Q1) Refer to Rapala.Because buyers of fishing lures want to have the newest,most technologically improved lure,most of Rapala's customers would more than likely fall into the _____ category of adopters.
A)laggards
B)prompt diffusers
C)early adopters
D)innovators
E)early majority
Q2) Which of the following has been found to be an efficient substitute for traditional methods of conducting test markets?
A)Product sampling
B)Simulated product adoption
C)Online test marketing
D)Simulated diffusion
E)Market concentration
Q3) The Internet offers a fast,cost-effective way to conduct test marketing.
A)True
B)False
Q4) Global R&D is important for two reasons.What are they?
Q5) List the seven steps of the new-product development process.
13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Services and Nonprofit Organization Marketing
Available Study Resources on Quizplus for this Chatper
182 Verified Questions
182 Flashcards
Source URL: https://quizplus.com/quiz/21394
Sample Questions
Q1) Which category of service processing takes place when the service is directed at a customer?
A)People processing
B)Possessions processing
C)Information processing
D)Mechanical processing
E)Personal processing
Q2) What is a nonprofit organization? Discuss the marketing activities performed by nonprofit organizations.
Q3) All of the following are key factors in the distribution strategy for services EXCEPT:
A)customization
B)convenience for customers
C)number of intermediaries and outlets
D)scheduling of service deliveries
E)location
Q4) Describe the five gaps identified in the gap model of service quality that can cause problems in service delivery and influence customer evaluations of service quality.Discuss ways that marketers can close each gap.
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Marketing Channels
Available Study Resources on Quizplus for this Chatper
157 Verified Questions
157 Flashcards
Source URL: https://quizplus.com/quiz/21395
Sample Questions
Q1) One configuration of a marketing channel entails producers selling to consumers with no intermediaries involved.This is called a:
A)limited distribution system
B)conventional channel
C)vertical marketing system
D)reciprocal channel
E)direct channel
Q2) Nontraditional channel arrangements:
A)tend to make a firm's product seem the same as the competition.
B)usually broaden a brand's coverage.
C)can give a producer serving a niche market a way to gain market access without having to establish channel intermediaries.
D)are not usually useful for larger firms.
E)All of the above are true.
Q3) Unlike marketers of physical products,marketers of services do not tend to address the question of logistics since services do not require a distribution strategy.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
15
Chapter 14: Supply Chain Management
Available Study Resources on Quizplus for this Chatper
122 Verified Questions
122 Flashcards
Source URL: https://quizplus.com/quiz/21396
Sample Questions
Q1) Refer to Fishy Business.If all the firms involved with getting the fish from the ocean onto consumers' plates work together to perform tasks as a single unified system,which of the following are they using?
A)A synergistic approach
B)A systems approach
C)A primary approach
D)A networked approach
E)An interdependent approach
Q2) A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system,such as transportation,warehousing,or order processing,is called:
A)outsourcing.
B)mediation.
C)intermediary distribution.
D)benchmarking.
E)disintermediaton.
Q3) How has the use of supply chain management resulted in a radical reformulation of traditional marketing,production,and distribution functions?
Q4) List the components of the logistics function in the supply chain.
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Retailing
Available Study Resources on Quizplus for this Chatper
172 Verified Questions
172 Flashcards
Source URL: https://quizplus.com/quiz/21397
Sample Questions
Q1) A _____ is an off-price retailer that is owned and operated by a manufacturer and carries one line of merchandise--its own.
A)mass merchandiser
B)factory outlet
C)wholesale club
D)discount store
E)bargain basement store
Q2) Stores that are owned and operated as a group by a single organization are called _____.Under this form of ownership,many administrative tasks are handled by the home office.
A)home base stores
B)independent retailers
C)franchisees
D)chain stores
E)strip centers
Q3) Marketers who use nonstore retailing no longer have to worry about the "place" element of the four Ps.
A)True
B)False
Q4) Define franchising and discuss its two basic forms.Give an example of each form.
Page 17
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Integrated Marketing Communications
Available Study Resources on Quizplus for this Chatper
195 Verified Questions
195 Flashcards
Source URL: https://quizplus.com/quiz/21398
Sample Questions
Q1) Just as Grace was in sight of a billboard for the Riverbend Antique Mall,a police car drove by with its lights flashing.Grace was so concerned with watching where the police car went that she totally missed seeing the mall's billboard.In terms of the communication process,the police car acted as:
A)media interruptus.
B)negative feedback.
C)static.
D)explicit communication.
E)noise.
Q2) To get more retailers to stock its products,Rust-Oleum paint developed a strong advertising campaign aimed at consumers.The ads show creative ways to use paint to make homes more attractive and emphasize that the paint doesn't chip,peel,or fade.Rust-Oleum is using a _____ promotional strategy.
A)push
B)channel
C)reinforcement
D)pull
E)kinetic
Q3) Several factors affect the choice of promotional mix.Name five of these factors.
To view all questions and flashcards with answers, click on the resource link above.
Page 18
Chapter 17: Advertising and Public Relations
Available Study Resources on Quizplus for this Chatper
193 Verified Questions
193 Flashcards
Source URL: https://quizplus.com/quiz/21399
Sample Questions
Q1) Kia Motors runs television advertisements that encourage the purchase of their Kia
Soul compact car.This is an example of _____ advertising.
A)pioneering
B)circumstantial
C)product
D)advocacy
E)comparative
Q2) Magazine ads have a much shorter life span and pass-along rate than radio ads.
A)True
B)False
Q3) Ads for Yoplait Greek Yogurt highlight that the product has twice the protein and three times the calcium of other yogurts.This advertising highlights:
A)product attributes.
B)the creation of brand loyalty.
C)how negative consumers' attitudes are modified.
D)product benefits.
E)loyalty rewards.
Q4) Name and briefly define three forms of product advertising.
Q5) What is public relations? What is publicity?
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Sales Promotion and Personal Selling
Available Study Resources on Quizplus for this Chatper
172 Verified Questions
172 Flashcards
Source URL: https://quizplus.com/quiz/21400
Sample Questions
Q1) List the seven steps in the personal selling process.
Q2) Often the task of lead qualification is handled by a telemarketing group or a sales support person who frees the sales representative from the time-consuming task by engaging in:
A)prequalification.
B)database mining.
C)co-opting.
D)cold calling.
E)Networking.
Q3) Refer to Advanced Bionics.Advanced Bionics has cutting-edge technology and its customers are very sophisticated.Salespeople need to persuade physicians,neurosurgeons,and orthopedic doctors to use Advanced Bionics' products.Which of the following statements is NOT an advantage that personal selling offers the company?
A)It can tailor the message to the customer needs.
B)It is good for explaining the merits of complex products.
C)It is inexpensive on a per contact basis.
D)It can be specifically directed to the different types of accounts.
E)It is effective in convincing a prospective client.
Q4) Compare and contrast contests and sweepstakes.
Page 20
To view all questions and flashcards with answers, click on the resource link above.
Chapter 19: Pricing Concepts
Available Study Resources on Quizplus for this Chatper
191 Verified Questions
191 Flashcards
Source URL: https://quizplus.com/quiz/21401
Sample Questions
Q1) The most popular method used by wholesalers and retailers in establishing a sales price is _____ pricing.
A)markup
B)status quo
C)formula
D)marginal revenue
E)break-even
Q2) When the price of a product is set at a level where demand and supply are the same,_____ has been achieved.
A)equilibrium
B)stability
C)leverage
D)symmetry
E)status quo
Q3) _____ use complex mathematical software to profitably fill unused capacity.
A)Yield management systems
B)Capacity correlation systems
C)Service forecasting tools
D)Service management systems
E)Capacity management software
To view all questions and flashcards with answers, click on the resource link above. Page 21
Chapter 20: Setting the Right Price
Available Study Resources on Quizplus for this Chatper
189 Verified Questions
189 Flashcards
Source URL: https://quizplus.com/quiz/21402
Sample Questions
Q1) An awning manufacturer that is allowed to deduct 3 percent from its total bill if it pays by a specific date is receiving a promotional discount.
A)True
B)False
Q2) The practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market is called:
A)price discrimination.
B)predatory pricing.
C)price fixing.
D)price manipulation.
E)anti-competitive pricing.
Q3) Price discrimination can sometimes be justified.
A)True
B)False
Q4) Flexible pricing enables a seller to close a sale with price-conscious consumers.
A)True
B)False
Q5) Distinguish between a cumulative and a noncumulative discount.
To view all questions and flashcards with answers, click on the resource link above. Page 22
Chapter 21: Customer Relationship Management Crm
Available Study Resources on Quizplus for this Chatper
151 Verified Questions
151 Flashcards
Source URL: https://quizplus.com/quiz/21403
Sample Questions
Q1) Using customer database information to offer related products to customers is called:
A)incremental selling.
B)cross-selling.
C)relationship marketing.
D)informed selling.
E)synergistic selling.
Q2) Refer to Los Angeles Sparks.Suppose that the Sparks management sees six categories of fans at their games.They feel that some people at Sparks games generally fall within one of the following six groups: (1)general sports fans,(2)basketball fans,(3)Sparks fans,(4)general fans of women's sports,(5)fans of opposing teams,and (6)those seeking entertainment.Dividing customer groups down in this manner is termed:
A)customer data mining.
B)customer segmentation.
C)customer targeting.
D)customer positioning.
E)customer centric.
Q3) What is a touch point? Give two examples of touch points.
Q4) What is knowledge management? What type of companies use knowledge management?
Page 23
To view all questions and flashcards with answers, click on the resource link above.
Chapter 22: Social Media and Marketing
Available Study Resources on Quizplus for this Chatper
113 Verified Questions
113 Flashcards
Source URL: https://quizplus.com/quiz/21404
Sample Questions
Q1) Which mobile marketing tool allows 160-character text messages to be sent to and from cell phones?
A)Mobile ads
B)SMS
C)Web widgets
D)MMS
E)MOBI
Q2) Research indicates that the number of people who contribute content on social media sites is actually decreasing.
A)True
B)False
Q3) Beyond using Twitter to track sentiment about the brand,Gatorade should also consider sharing links,announcing events,and following,retweeting,and responding to potential customers' tweets on the microblogging platform.
A)True
B)False
Q4) Facebook can best be characterized as a media sharing site.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 24