Strategic Marketing
Final Exam Questions
Course Introduction
Strategic Marketing focuses on the long-term planning and implementation of marketing techniques to achieve organizational goals and maintain a competitive edge. This course examines the process of analyzing market opportunities, segmenting and targeting markets, positioning products, and creating value-driven strategies. Emphasis is placed on integrating marketing concepts with overall business objectives, utilizing tools such as SWOT analysis, market research, branding, and digital marketing trends. Through case studies and practical projects, students learn to develop and evaluate strategic marketing plans in dynamic business environments.
Recommended Textbook
Business Marketing Management B2B 11th Edition by Michael
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15 Chapters
1161 Verified Questions
1161 Flashcards
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Page 2
D. Hutt
Chapter 1: A Business Marketing Perspective
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) When companies want to sell products to consumer and business markets,they have to:
A)produce products that are not identical.
B)reorient their business strategies.
C)link customer capabilities.
D)none of the above
Answer: B
Q2) As an industrial customer,Ford Motor Company would be classified as:
A)a user.
B)an original equipment manufacturer (OEM).
C)a user in purchasing some products,an OEM in purchasing other products.
D)a producer of facilitating goods.
Answer: C
Q3) The use of law firms or advertising agencies by business marketers constitutes what type of industrial good?
A)Facilitating goods.
B)Entering goods.
C)Foundation goods.
D)Installations.
Answer: A
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Chapter 2: Organizational Buying Behavior
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76 Flashcards
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Sample Questions
Q1) The four groups of forces that have an impact on organizational buying behavior are environmental,organizational,strategic,and individual.
A)True
B)False
Answer: False
Q2) Individuals affecting the purchasing decision by supplying information for the evaluation of alternatives or by setting buying specifications is performing the role of:
A)a gatekeeper.
B)a user.
C)an influencer.
D)a decider.
E)a buyer.
Answer: C
Q3) The buying center becomes larger and comprises members with higher levels of organizational status and authority as perceived risk increases.
A)True
B)False
Answer: True
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Chapter 3: Customer Relationship Management Strategies for Business Markets
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71 Flashcards
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Sample Questions
Q1) Relationship commitment involves a partner's belief than an ongoing relationship is so important that it deserves maximum efforts to maintain it.
A)True
B)False
Answer: True
Q2) Which of the following are goals of customer relationship management (CRM)?
A)A continuing dialogue with customers.
B)Personalized treatment of the most valuable customers.
C)Achieving customer retention.
D)All of the above.
E)(a)and (c)only.
Answer: D
Q3) Buyer-seller relationships that arise for important purchases are the ones that are more likely to involve operational linkages and high levels of information exchange.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Segmenting the Business Market and Estimating
Segment Demand
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Sample Questions
Q1) Effective segmentation often begins with the analysis of macrolevel bases of segmentation,and then continues with the identification of microsegments within each potential macrosegment using microlevel bases of segmentation. However,segmentation can effectively end after considering only macrolevel variables. Please provide an illustration of a situation where only macrolevel bases are used to identify market segments and what variables or issues business marketers should use to determine whether macrosegmentation alone is enough for effective organizational market segmentation.
Q2) Which of the following are means by which a marketer can implement a microsegmentation strategy?
A)Importance of the purchase.
B)Attitudes toward vendors.
C)Organizational Innovativeness.
D)(a)and (b)only.
E)(a)and (c)only.
Q3) If the business marketer can identify meaningful and profitable market segments at the macro level,the segmentation process is complete.
A)True
B)False
Page 6
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Chapter 5: Business Marketing Planning: Strategic Perspectives
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67 Flashcards
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Sample Questions
Q1) The balanced scorecard uses which of the following perspectives to measure firm performance?
A)Financial.
B)Customer.
C)Internal business processes.
D)Learning and growth.
E)All of the above.
Q2) Cisco and General Electric demonstrate special skills in forging relationships with suppliers and alliance partners. This is an example of:
A)a value network.
B)relationship dynamics
C)a strategic asset.
D)a market scope.
Q3) The element of customer interface that refers to the channels a business marketing firm uses to reach customers and the level of service it provides is:
A)fulfillment and support.
B)information and insight.
C)relationship dynamics.
D)pricing structure.
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Chapter 6: Business Marketing Strategies for Global Markets
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77 Flashcards
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Sample Questions
Q1) Markets of limited size surrounded by trade barriers may be supplied most cost effectively by using the exporting mode of entry.
A)True
B)False
Q2) Configuration centers on where each activity is performed,including the number of locations.
A)True
B)False
Q3) The choice of a particular entry mode will also depend on the size of the market and its growth potential.
A)True
B)False
Q4) In high-risk markets,firms can reduce their equity exposure by adopting low commitment modes such as:
A)licensing.
B)contract manufacturing.
C)joint ventures with a majority share.
D)all of the above.
E)(a)and (b)only.
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Chapter 7: Managing Products for Business Markets
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66 Flashcards
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Sample Questions
Q1) The basic premise of his CBBE model is that the power of a brand lies in
A)What consumers have learned,felt,seen,and heard about the brand over time
B)The market share it commands
C)How the decision maker perceives the ultimate value of the item
D)None of the above
E)All of the above
Q2) Custom-designed products are creates to meet the needs of one or a small group of customers.
A)True
B)False
Q3) Strong brands have a personality that defines how it might be described if it had human qualities (for example,friendly,confident).
A)True
B)False
Q4) Along with consumer-goods names like Nike or Coca Cola,the world's most valuable brands include high-tech representatives such as Intel,Hewlett-Packard,IBM,and Microsoft. Describe the attributes of a strong high-tech brand. Do the investments in building a high-tech brand pay off? Explain.
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Chapter 8: Managing Innovation and New Industrial
Product
Development
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Sample Questions
Q1) A feature-enhanced or cost-reduced Canon fax machine provides an example of which type of development project?
A)platform project
B)breakthrough project
C)research and development project
D)derivative project
E)none of the above
Q2) Induced strategic behavior relates primarily to major types of innovations.
A)True
B)False
Q3) Competitors are less motivated to react to a new production introduction when the market is experiencing a high rate of growth.
A)True
B)False
Q4) Important dimensions of the new product development process include:
A)technical knowledge.
B)predevelopment proficiency.
C)market knowledge.
D)All of the above.
E)Only a and b.
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Chapter 9: Managing Services for Business Markets
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Sample Questions
Q1) Product lifestyle services refer to services that facilitate the customer's access to a manufacturers product and ensure is functioning throughout the product's useful life..
A)True
B)False
Q2) Reliability,responsiveness,and empathy are all dimensions of service quality.
A)True
B)False
Q3) Research suggests that among the service quality dimensions,responsiveness is most important to customers.
A)True
B)False
Q4) __________________________ is the manufacturer's capacity to integrate the product and service elements of the offering early in the development process to tap the full potential for revenue generation and/or cost reduction.
Q5) A solution-centered approach starts with the product and leads to a solution that satisfies customers.
A)True B)False
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Chapter 10: Managing Business Marketing Channels
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Sample Questions
Q1) The two critical elements of the distributor's function are to secure financing and have products readily available.
A)True
B)False
Q2) Describe specific product,market,and competitive conditions that lend themselves to: (a)a direct channel of distribution and (b)an indirect channel of distribution.
Q3) A direct sales force is best used for:
A)highly standardized solutions.
B)small customers.
C)simple transactions.
D)complex products.
Q4) Channel____________________refers to the number of channel levels,the number and types of intermediaries and the linkages among channel members.
Q5) For products that are bought frequently,repetitively,and in small quantities,industrial distributors provide an efficient channel path.
A)True
B)False
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Page 12
Chapter 11: Supply Chain Management
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89 Flashcards
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Sample Questions
Q1) Inventories are needed in business channels because:
A)production and demand are perfectly matched.
B)operating deficiencies in logistical system often result in product unavailability.
C)business customers can predict their product needs with certainty.
D)all of the above.
E)(a)and (c)only.
Q2) Which of the following statements is false regarding the relationship of the Internet and SCM?
A)The Internet promotes efficiency across the supply chain.
B)The Internet promotes effectiveness across the supply chain.
C)The Internet permits suppliers to gain real-time knowledge of their customer's needs for materials and components.
D)The use of the Internet as a part of supply chain management has allowed business marketers develop new products in a more timely manner.
E)The Internet has provided companies the opportunities to increase channel inventories.
Q3) SCM requires____________________not only among departments within the organization but also with external partners.
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Chapter 12: Pricing Strategy for Business Markets
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Sample Questions
Q1) Success in penetrating a buying organization with one item often means success for other items in the product line.
A)True
B)False
Q2) ____________________costs include financing,storage,inspection,taxes,insurance,and other internal handling costs.
Q3) The degree of latitude that an industrial firm has in setting prices above those offered by competitors is dependent upon:
A)the firm's objectives.
B)the cost of producing the product.
C)the level of differentiation that the product enjoys in the perceptions of organizational buyers.
D)the size of the firm's promotional budget.
E)both (a)and (b)
Q4) The first component in the Price-Setting Decision Process is____________________.
Q5) ____________________drivers add incremental value by facilitating revenue or margin expansion while____________________drivers create value by providing economic savings.
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Chapter 13: Business Marketing Communications: Advertising and Sales Promotion
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73 Flashcards
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Sample Questions
Q1) Although certain mechanical aspects help create awareness and interest in the advertisement,its ultimate success will depend on how well the message is targeted to the benefits sought by the buying influential.
A)True
B)False
Q2) Advertising objectives are typically stated in terms of:
A)sales goals.
B)profit goals.
C)cost constraints.
D)communication goals.
E)market share goals.
Q3) Dell Computer has been developing closer relationships with its corporate customers by setting up Web sites on internal company networks. The system enables individual employees at customer locations to easily order from a pre-approved line of Dell Computers. Discuss how Dell might use direct e-mail advertising to reach employees at these companies and reinforce its Web strategy.
Q4) Internet marketing costs far less than direct mail marketing.
A)True
B)False
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Chapter 14: Business Marketing Communications:
Managing the Personal Selling Function
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77 Flashcards
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Sample Questions
Q1) Salespersons appear to be able to accept authority and direction from a number of different departments in the organization without a significant negative impact on job satisfaction.
A)True
B)False
Q2) A key account represents a customer who:
A)buys for an organization with geographically concentrated units.
B)involves a small number of key organizational members in the purchasing process.
C)purchases a significant volume as a percentage of a seller's total sales.
D)All of the above.
E)Only (b)and (c).
Q3) A key account represents a customer who:
A)purchases an insignificant volume as a percentage of a seller's total sales.
B)buys for an organization with geographically concentrated units.
C)involves several organizational members in the purchasing process.
D)(a)and (b)only.
E)(b)and (c)only.
Q4) Describe the factors that appear to influence the salesperson's satisfaction with the job and the work environment.
Page 16
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Chapter 15: Marketing Performance Measurement
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Sample Questions
Q1) Strategic____________________focuses on assessing whether the strategy is being implemented as planned and whether it produces the intended results.
Q2) The efficiency of a marketing operation can be assessed via expense-to-sales ratios.
A)True
B)False
Q3) Marketing control is a process business marketers can use to generate information on marketing performance. For each of the levels of marketing control,describe the purpose of the control,identify who is primarily responsible for that control in the organization,and provide examples of tools that can be used.
Q4) To be successful,successful business marketing managers:
A)must assume an active role in the marketing strategy center.
B)must negotiate with other functions.
C)must get advanced secondary education.
D)All of the above.
E)Only (a)and (b).
Q5) Efficiency and effectiveness control is the primary responsibility of____________________management.
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