Strategic Marketing Exam Solutions
Course Introduction
Strategic Marketing focuses on the formulation and implementation of marketing strategies that drive competitive advantage and long-term organizational success. This course explores market analysis, segmentation, targeting, positioning, and the development of integrated marketing programs. Students learn to assess market opportunities, understand consumer behavior, and align marketing objectives with overall business goals. Emphasis is placed on case studies, real-world application, and the use of analytical tools to design and execute effective marketing strategies in diverse and dynamic environments.
Recommended Textbook
Preface to Marketing Management 13th Edition by J. Paul Peter
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14 Chapters
1150 Verified Questions
1150 Flashcards
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Page 2
Chapter 1: Strategic Planning and the Marketing Management Process
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66 Verified Questions
66 Flashcards
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Sample Questions
Q1) Run for the Cure is an annual marathon that is geared toward raising money for conducting research on breast cancer.Marketers advertize through the local media to attract participants and volunteers to the event.Which of the following types of marketing is depicted in this scenario?
A) Place marketing
B) Product marketing
C) Organization marketing
D) Service marketing
Answer: C
Q2) When organizations expand into new products,markets or industries,their original purpose may become irrelevant.Such organizations can be defined as _____.
A) drifting organizations
B) functional organizations
C) innovative organizations
D) dynamic organizations
Answer: A
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Page 3
Chapter 2: Marketing Research: Process and Systems for Decision Making
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) By the end of the first stage of the marketing research process,managers and researchers should agree on:
A) whether or not the company will undertake a test marketing exercise based on the results.
B) who will be responsible for designing observational forms and questionnaires.
C) the specific question or questions the research is designed to investigate.
D) the type of quantitative research to be used in the current study.
Answer: C
Q2) Which of the following is a drawback of using mall intercepts?
A) It is a highly time consuming method of collecting data.
B) It does not offer flexibility in probing respondents.
C) Its costs depend on incidence rates.
D) It cannot be used for copy evaluations.
Answer: C
Q3) A benefit of using telephone surveys is that:
A) it has a centralized control of data collection.
B) it is less likely to be perceived as intrusive by respondents.
C) it has a proportionate representation of low-income segments.
D) it has a high depth of response.
Answer: A
Page 4
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Chapter 3: Consumer Behavior
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) The _____ represent a social class that is differentiated mainly by having a high income level that enables consumption of the most prized and prestige brands of goods and services.
A) working class
B) middle class
C) upper Americans
D) lower Americans
Answer: C
Q2) A consumer makes a different decision when purchasing a fire alarm system for a warehouse full of steel furniture than when purchasing one for a home full of irreplaceable antiques.Which of the following situational influences accounts for this difference in behavior?
A) Social features
B) Task features
C) Current conditions
D) Physical features
Answer: B
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Page 5
Chapter 4: Business, Government, and Institutional Buying
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79 Verified Questions
79 Flashcards
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Sample Questions
Q1) CDS Cold Storage Public Warehouse needs to buy a new compressor for one of its refrigeration units.The company has a regular supplier for replacement compressors,but this supplier has hiked the prices recently.So,the purchasing agent decides to switch to a different supplier that is offering the same type of compressor at a cheaper price.The purchasing agent is engaging in a _____ here.
A) straight rebuy
B) sell-side auction
C) modified rebuy
D) new task purchase
Q2) Which of the following examples would most likely use a straight rebuy?
A) A company looking to buy suitable premises for its new branch office
B) A physician planning to buy an endoscope at the price of $35,000
C) A manufacturer of lawn mowers ordering spare parts regularly from the same supplier
D) A cold storage warehouse planning to buy a generator costing $100,000 to keep its storage area cold in the event of an electric outage
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6
Chapter 5: Market Segmentation
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79 Flashcards
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Sample Questions
Q1) An entrepreneur has developed a self-service soda-bottling machine.Customers can fill their own plastic soda bottles with 18 regular and diet flavors by placing empty bottles under a nozzle,depositing coin and punching a series of buttons.The machine dispenses the requested soda and a bar-coded dietary information sticker,which the customer places on the bottle.The entrepreneur must now determine where to locate the machines by studying the market and then grouping outlets on the basis of her research findings.This is an example of the _____ segmentation approach.
A) psychographic segmentation
B) a priori segmentation
C) mass market segmentation
D) post hoc segmentation
Q2) The second step in the market segmentation process involves determining the_____.
A) relevant dimensions for market segmentation
B) product positioning strategy to be used
C) consumer needs and wants
D) marketing mix strategy
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Chapter 6: Product and Brand Strategy
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88 Verified Questions
88 Flashcards
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Sample Questions
Q1) Lauren is a brand manager at a company that manufactures toothpaste.She wants to increase the sales of an existing brand of toothpaste.She calls in a member from her management staff,a product designer,personnel from human resource,and a member from the finance team.All these people work together as a team in order to come up with ways to improve the company's toothpaste brand.Which of the following has Lauren created?
A) A departmental team
B) A marketing-management system
C) A cross-functional team
D) A category management system
Q2) Which of the following observations about a product is correct?
A) The essential benefits that the buyer expects to receive from a product constitute the tangible product.
B) A particular product can be viewed as a tangible, extended, or generic product.
C) The generic product is defined as the tangible product along with all the services that accompany it.
D) The extended product is defined as the physical entity or service that is sold by the firm.
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8
Chapter 7: New Product Planning and Development
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) The manufacturers of Waterford crystal have usually focused efforts of creating intricate artifacts and other collectibles.However,in light of competition and demand,they are introducing their first line of dinnerware.In which of the following new product categories would the dinnerware fall?
A) New-to-the-world products
B) New-to-the-firm products
C) Additions to existing product lines
D) Product improvements
Q2) Which of the following strategies refers to creating new products to replace existing ones?
A) Market penetration
B) Product development
C) Market development
D) Market diversification
Q3) _____ are products that extend subsisting product lines to current markets.
A) New-to-the-world products
B) New-to-the-firm products.
C) Additions to existing product lines
D) Improvements and revisions of existing products
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Page 9
Chapter 8: Integrated Marketing Communications
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Personal selling is best suited for which of the following steps of the buying process that potential buyers usually go through?
A) Awareness
B) Comprehension
C) Conviction
D) Ordering
Q2) Which of the following is an ethical and legal concern associated with personal selling?
A) Misrepresenting product health
B) Encouraging materialism and excessive consumption
C) Reinforcing ethnic and racial stereotypes
D) Using unauthorized mailing lists to reach consumers
Q3) A local hardware store owner is preparing an annual advertising budget for his firm.He believes that advertising is defensive.Based on this,which of the following methods for establishing an advertising budget is he most likely to use?
A) All you can afford
B) Task approach
C) Competitive parity
D) The research approach
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Page 10
Chapter 9: Personal Selling, Relationship Building, and Sales Management
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) Which of the following is a sales forecasting method that obtains the combined views of the sales force about the future outlook for sales?
A) Sales force executive opinion method
B) Sales force composite method
C) Sales force expectations method
D) Sales force correlation analysis
Q2) Which of the following observations concerning salespeople is correct?
A) They dispense knowledge about products to manufacturers.
B) They act as a source of marketing intelligence for buyers.
C) They act as intermediaries between product providers and buyers.
D) They design and develop improved products for buyers.
Q3) Who,amongst the following,is least likely to find prospecting important?
A) A stockbroker
B) A real estate agent
C) A sales representative for an established personal care product manufacturer
D) A partner in an accounting firm
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Chapter 10: Distribution Strategy
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85 Verified Questions
85 Flashcards
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Sample Questions
Q1) Coca-Cola licenses wholesalers in various markets that buy its syrup concentrate and then carbonate,bottle and sell Coke products to retailers in their local markets.Coca-Cola participates in a(n)_____ vertical marketing system.
A) selective
B) administered
C) corporate
D) contractual
Q2) _____ involves wholesalers purchasing channel members above them.
A) Backward integration
B) Contractual marketing systems
C) A manufacturer-sponsored voluntary chain
D) A franchising program
Q3) Which of the following types of retail operations does the longstanding Sears' motto,"Sears has everything," exemplify?
A) Specialty stores
B) Convenience stores
C) Department stores
D) Internet stores
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Chapter 11: Pricing Strategy
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) Which of the following is a factor influencing pricing decisions that are relevant to demand influences for a product?
A) Environmental factors
B) Distinctiveness
C) Cost factors
D) Demographic factors
Q2) A new device "Sniffer",used for testing alcohol levels in drunken driving suspects,is priced out of the reach of most law enforcement units.Those units that have bought the Sniffer are extremely pleased with its results and the fact that these results are readily accepted in court.There is nothing on the market today that has the accuracy and the portability of the Sniffer.The manufacturer of the Sniffer is likely to be using a(n)_____ pricing policy.
A) penetration
B) odd-even
C) skimming
D) going-rate
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Chapter 12: The Marketing of Services
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) Service products that are totally intangible:
A) do not involve customer participation in any way.
B) can be transported and stored.
C) are nonperishable.
D) are exchanged directly from producer to user.
Q2) Which of the following is true of insurance?
A) Customers are faced with limited options in choosing life, hospital or auto insurance.
B) Insurance companies may offer a full range of financial services, including auto loans, mortgages, mutual funds and certificates of deposit.
C) Distribution of insurance services has been steadily declining.
D) The insurance industry excludes the use of intermediaries to distribute its services.
Q3) Since service firms are often not faced with _____,they often fail to recognize the need for change.
A) innovation
B) competition
C) creativity
D) obsolescence
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Chapter 13: Global Marketing
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100 Verified Questions
100 Flashcards
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Sample Questions
Q1) Which of the following is integral to the understanding of the foreign consumer for their possible influence on each of the elements in a firm's marketing program?
A) Educational qualifications
B) Cultural framework of consumer motives
C) Availability of products
D) Rate of growth in buying power
Q2) Census data for many countries does not exist and it is difficult to obtain in some countries.The problem encountered by researchers in using census data here pertains to:
A) language.
B) timeliness.
C) data content.
D) foreign market data.
Q3) In a(n)_____,a partner may be able to benefit from a partner's knowledge of the host country's culture,language and political system.
A) joint venture
B) direct ownership
C) wholly-owned subsidiary
D) exporting agreement
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Page 15
Chapter 14: Portfolio Models
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Sample Questions
Q1) The biotechnology industry has experienced rapid growth in recent years.One of the companies at the forefront of research on disease and insect-resistant seeds is Biotex's biotech division.The success of this division has led to many economists call it one of the leading firms in the market.In terms of the BCG Portfolio Model,Biotex's biotech division is a _____.
A) dog
B) cash cow
C) question mark
D) star
Q2) Which objective allows market share to decline in order to maximize earnings and cash flow and is appropriate for weak cash cows,weak question marks,and dogs?
A) Hold share
B) Harvest
C) Divest
D) Build share
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