Strategic Marketing Exam Preparation Guide
Course Introduction
Strategic Marketing explores the development and implementation of marketing strategies that drive long-term organizational success in dynamic and competitive environments. The course examines key concepts such as market analysis, segmentation, targeting, and positioning, as well as the formulation of value propositions and brand strategies. Students learn how to evaluate external and internal factors affecting marketing decisions, design integrated marketing programs, and use analytical tools to assess market opportunities and threats. Emphasis is placed on aligning marketing strategies with overall business objectives, leveraging digital platforms, and addressing ethical considerations in global markets. Through case studies and real-world applications, students develop strategic thinking skills necessary for effective marketing leadership.
Recommended Textbook
Marketing Management 1st Edition by Greg Marshall
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19 Chapters
2209 Verified Questions
2209 Flashcards
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2
Chapter 1: Marketing in Todays Business Milieu
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89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/63350
Sample Questions
Q1) How can a firm create marketing-driving strategies? Give an example.
Answer: Apple uncovered needs that consumers did not know they had.When Apple launched the iPhone, many non-Apple computer users lined up to get the phone and paid a premium price for a device that made it easy to use a phone, camera, the Internet, and created a new market.
Q2) Jack wants to get his new computer from the most famous mass customization marketer.He should purchase from __________.
A) Compaq
B) Hewlett-Packard
C) Apple
D) Dell
E) Gateway Answer: D
Q3) Big M marketing refers to the strategic, long-term, firm-level commitment to investing in marketing.
A)True
B)False
Answer: True
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3
Chapter 2: Elements of Marketing Strategy and Planning
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122 Verified Questions
122 Flashcards
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Sample Questions
Q1) What are the support activities of the value chain?
Answer: 1.Firm infrastructure-how the firm is set up for doing business; are the internal processes aligned and efficient.
2.Human resource management-how the firm ensures it has the right people in place, trains them, and keeps them.
3.Technology development-how the firm embraces technology usage for the benefit of customers.
4.Procurement-how the firm deals with vendors and quality issues.
Q2) Roberta has many items to include in the SWOT analysis for New Home Builders Corp.An examination of competitors that have gone bankrupt would be included in the _______ section.
A) Strengths
B) Threats
C) Opportunities
D) Strategy
E) Weaknesses
Answer: C
Q3) What are the three generic business strategies?
Answer: Growth, retrenchment, stability
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Page 4
Chapter 3: Understanding the Global Marketplace: Marketing Without Borders
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) Germany has a very relaxed culture.If you make a business appointment at 10:00, your German counterpart will not mind if you do not show up until 11:00.
A)True
B)False
Answer: False
Q2) In Asia, the relationship between the salesperson and the customer is more personal than it typically is in the United States.This element of marketing communications is
A) Advertising
B) Personal selling
C) Promotion
D) Public relations
E) Direct marketing Answer: B
Q3) Nestlé embraces a local branding strategy globally while other companies like Coca-Cola and Kellogg use a global branding strategy.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Perspectives on Customer Relationship Management
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Pedigree Puppy Club is a CRM program in the UK that has captured ______ of the puppy market.
A) 25%
B) 40%
C) 50%
D) 75%
E) 80%
Q2) The CRM process cycle may be divided into _____ elements.
A) Four
B) Five
C) Eight
D) Ten
E) Twelve
Q3) John manages a shoe store in a town of 40,000 that is the major trading center for the surrounding rural communities.He has known many of the customers for the forty years he has run the store.He sees no reason to invest in even the simplest of CRM systems.What would you say to John to change his mind?
Q4) Address the difference between the consumer marketing and customer marketing mindset.
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Chapter 5: Managing Marketing Information
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) A manufacturer of food products is looking at entering several new markets in developing countries.Before they do this, they want to collect data on item and flavor preferences in these markets.They send out a survey that has been accurately translated into the local language, but they still receive inconsistent results.In talking with a consulting firm, they are informed that several of these countries have extremely high illiteracy rates and the survey answers may just be random guesses by the respondents.This shows the _______ problem that can occur when collecting primary data in global markets.
A) Unwillingness to respond
B) Limited access
C) Unreliable sampling procedures
D) Inaccurate language translation
E) Insufficient comprehension
Q2) Explain the ethical dilemma faced by users and providers of pay-per-click Internet advertising.How would you solve this if you were a user? How would you solve this if you were a provider?
Q3) Define and give the advantages of the two major types of qualitative data.
Q4) Why are marketing managers concerned with competition when making marketing decisions? Give an example.
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Chapter 6: Understanding Competitors: Analysis to Action
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) ________________ offer(s)products that may be substituted based on the customer's need and choice options.
A) Direct competitors
B) Indirect competitors
C) Product use
D) Substitution
E) None of the above
Q2) Xavier started to grow a garden of fresh herbs and vegetables at his house for use in his restaurant, and reduced his need to purchase these items from his supplier.This is an example of _____________.
A) Production orientation
B) Selling orientation
C) Marketing orientation
D) Backward integration
E) Forward integration
Q3) Joannie is primarily using the Internet to research her competitors.Thus far she has found over 100 pages of information about her competitor.She told her partner, Georgette, that they needed to understand every piece of information, as it is all of value.Georgette disagrees.What do you think?
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Page 8
Chapter 7: Understanding Customers: Business to Consumer Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Jill is considered a(n)______ when it comes to wine because she has information about many kinds of wines, places to shop and other facets of the wine market.
A) Expert
B) Market maven
C) Leader
D) Information haven
E) Member of a reference group
Q2) MetLife insurance has brand personality that is _____ and ______.
A) Sincere, honest
B) Honest, competent
C) Sincere, competent
D) Competent, sophisticated
E) Competent, reliable
Q3) Motivation is the force by which powerful unmet needs, or motives, prompt someone to action.
A)True
B)False
Q4) What are the different types of learning? Explain whether conditioning or cognitive learning is more active and why.Please provide examples.
Page 9
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Chapter 8: Understanding Customers: Business to Business Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) How has the demand for biofuels affected the demand for corn?
Q2) Deciders can be come from a variety of roles in the organization.For example, they can be a CEO, a CFO, the head of the buying center, or can be a group coming to a consensus on a particular purchase.
A)True
B)False
Q3) Intel built a chip fabrication plant in China that serves two purposes.One is to show its commitment to China and the other is to give Intel strategic advantage over competition that does not manufacture there.
A)True
B)False
Q4) Jose is the machine press operator in a small manufacturing facility.He has been on the job for 7 years and taken extensive training courses with respect to his machine.Jose plays the role of __________ in the buying process.
A) Influencer
B) User
C) Decider
D) Operator
E) Key holder
10
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Chapter 9: Segmentation, Target Marketing, and Positioning
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Define target marketing.Which segments should the firm select?
Q2) Companies often try to draw the attributes necessary to position a firm.The process of drawing two attributes at a time to visualize the market is called ________.
A) Virtual mapping.
B) Perception training.
C) Monolithic mapping.
D) Perceptual mapping.
E) None of the above.
Q3) Ajax Engine Parts CEO says, "we sell to everyone" segmentation is only for the consumer market.Do you believe the CEO's statement is true or false?
A)True
B)False
Q4) ___________ would not be a good product for using gender segmentation.
A) Underwear.
B) Perfume.
C) Toothpaste.
D) Cigars.
E) Rogaine.
Q5) In the B2B market, how do you segment by operating variables?
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Chapter 10: The Product Experience: Product Strategy
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) What is an essential benefit? List five products and their essential benefits.
Q2) Cell phone manufacturers have put reliability features into phones that allow a technician access to its functionality and actually do minor software upgrades or repairs during a phone call.
A)True
B)False
Q3) Products introduced in the growth stage tend to have __________.
A) Fewer features and better design
B) Differentiated function
C) More features and better design
D) Limited design and more features
E) None of the above
Q4) The primary type of adopters that enter the market in the growth stage can be characterized as __________.
A) Early adopters
B) Innovators
C) Majority
D) Early majority
E) All of the above
Q5) What is the distribution strategy in each phase of the product life cycle?
Page 12
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Chapter 11: The Product Experience: Building the Brand
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Since customers make brand connections, marketing managers generally want to extend the brand to new products, no matter how well they fit with the existing perception of the brand as long as the extension is into a profitable category.
A)True
B)False
Q2) The owner of Tiny Tots Baby Food is redesigning the package for her product.She is trying to select a color that is both comforting and natural as well as a shape that is distinctive so that her brand is easy to identify and distinguish from it main competitors.She is focusing on the ______ element of effective packaging.
A) Usage Promotion
B) Aesthetic
C) Communication
D) Harmony
E) Protection
Q3) Explain the customer requirements of labeling and why they are important.Give an example of a company that has done this well.
Q4) Define brand equity according to David Aaker and list the corresponding dimensions.
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13
Chapter 12: The Product Experience: New Product Development
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) When a product like cell phones has been aimed as a safety device for working women and moms, one way to find "new" markets is to _________.
A) Add features to the phones
B) Sell added benefits to the existing customers
C) Reposition the existing products to new markets
D) Alter the billing so more people can afford the product
E) All of the above
Q2) Brand-new technologies are what people often consider a "new product." An example of this is the group of companies working on harnessing the wave action of the oceans off the Scottish Coast and other rough sea areas.
A)True
B)False
Q3) What are new-to-the-world products? What are the two categories these fall into? Give an example of each.
Q4) develop the product opportunity.
A)True
B)False
Q5) What is the biggest challenge small companies face in new product development?
Q6) What are the four sources of new product idea generation?
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Chapter 13: Service As the Core Offering
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Haris has a boss that always says "under promise and over deliver!" Haris' boss is simplifying which concept?
Q2) One of the search difficulties for consumers with respect to evaluating one service offering from another is ________.
A) Services are not offered in a store
B) The customer does not truly know how the service performs until after the sale
C) It is difficult to compare services online
D) A service may be inseparable from its price
E) None of the above
Q3) Alton gives everyone of the customers at his furniture store a cup of tea or coffee and a cookie or piece of fruit.What are these tokens considered? How does this help Alton?
Q4) There is a big debate that today we operate in an economy that is increasingly focused on intangible offerings-services-instead of just physical goods.
A)True
B)False
Q5) How are service quality and the service encounter related?
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Page 15
Chapter 14: Managing Pricing Decisions
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) A strategy of _______________ addresses the objective of entering a market at a relatively high price point.
A) Penetration pricing
B) Price skimming
C) Target ROI
D) Competitor based pricing
E) Value pricing
Q2) The Internet helped to create a market for ___________________ where sellers bid prices to capture a buyer's interest.
A) Price elasticity of demand
B) Stability pricing
C) Pricing tactics
D) Auction pricing
E) Reverse auction
Q3) _____________ are incurred over time, regardless of volume.
A) Fixed costs
B) Variable costs
C) Total costs
D) Both A & B
E) Both B & C
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Chapter 15: Managing Marketing Channels and the Supply Chain
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) The coordination of value-adding flows among the entities in a way that maximizes overall value delivered and profit realized is called _______________.
A) Physical distribution
B) Supply chain
C) Supply chain management
D) Breaking bulk
E) Accumulating bulk
Q2) Bailey has been running a personalized embroidery business and has been having significant problems recently.She has been sending out more of an item than the customer asked for, or sending out the wrong colors, names, etc.Which point in the supply chain is Bailey having problems with?
Q3) Charlotte is trying to convince Trey to begin to use some intermediaries in relation to their home goods business.Trey is resistant, what should Charlotte say?
Q4) What are the transaction and communication functions that are performed by intermediaries and how do they help fulfill completed transactions and maintain the viability of the channel relationships?
Q5) What are the goals of partner relationship management strategies (PRM)?
Page 17
Q6) In an administered VMS, who is the lead player, and what does it do?
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Chapter 16: Point of Customer Interface: Bricks and Clicks
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) _______________ refers to any action using electronic media to communicate with customers; facilitate the inventory, exchange, and distribution of goods and services; or make payment.
A) Electronic retailing
B) Direct selling
C) Television home shopping
D) Vending machine retailing
E) Electronic commerce
Q2) Customers are longer satisfied interacting with a company or product based primarily on visiting a retail store.
A)True
B)False
Q3) The Country Store, a small general retailer, is trying to determine the best mix of national and private-label brands it should carry.What are the differences between the two brands?
Q4) Melanie received her AirMiles card from Fly By Night Airlines about two months ago when she flew to Los Angeles.Since then she has been receiving e-mails offering her special prices on package deals to Los Angeles.What does this exemplify?
Q5) What are the differences between non-store retailers and other retailers?
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Chapter 17: Integrated Marketing Communication:
Advertising, Sales Promotion, and Public Relations
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) ___________ measures the percentage of individuals in a defined target market that are exposed to an ad during a specified time period.
A) Frequency
B) Target
C) Pioneering
D) Reach
E) Din
Q2) __________________ is not part of the AIDA model.
A) Attention
B) Interest
C) Desire
D) Action
E) Advertise
Q3) A promotional campaign attributes promotional expenditures to a particular creative execution aimed at a particular product for the length of the product life cycle.
A)True
B)False
Q4) Compare personal selling to sales promotion.List at least three differences between them.
Page 19
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Chapter 18: Integrated Marketing Communication: Selling,
Direct, and Interactive Marketing
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117 Verified Questions
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Sample Questions
Q1) Discuss the advantages and disadvantages of objective versus subjective measures of sales performance.
Q2) The Internet has established a powerful new communication channel known as _______________.
A) Media plan
B) Market space
C) Sales collateral
D) Catalog
E) List of prospects
Q3) The _____________ is considered the single best promotional method for driving customers to the Internet.
A) Media plan
B) Market space
C) Sales collateral
D) Catalog
E) List of prospects
Q4) Objective measures reflect statistics the sales manager gathers from the firm's internal data.
A)True
B)False
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Chapter 19: The Marketing Dashboard: Metrics for Measuring
Marketing Performance
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112 Verified Questions
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Sample Questions
Q1) The budgeting method that relies upon figuring out whatever is left over is known as the ______________ method.
A) Zero-based
B) Objective-and-task
C) Percent-of-sales
D) Comparative-parity
E) All-you-can-afford
Q2) A well-rounded dashboard tracks the skills and competencies of the marketing team against a clear set of proficiency goals.
A)True
B)False
Q3) A wide range of organizational functions will have a stake in making a marketing plan successful.Even if the functions are outsourced then someone internally still must take responsibility for the outsourced aspect of the action plan.
A)True
B)False
Q4) ROMI is the metric du jour for many firms' bottom line.
A)True
B)False
21
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