Strategic Marketing
Final Test Solutions
Course Introduction
Strategic Marketing explores the process of analyzing, planning, and implementing marketing strategies to achieve organizational objectives in competitive environments. This course covers key concepts such as market segmentation, targeting, positioning, brand management, value proposition development, and the integration of digital and traditional marketing channels. Students learn to apply analytical frameworks and strategic decision-making tools to real-world business scenarios, enabling them to create and sustain competitive advantages in various industries. The course emphasizes critical thinking, case analysis, and the practical application of marketing theory in formulating impactful marketing strategies.
Recommended Textbook
Marketing Management 3rd Edition by Greg Marshall
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14 Chapters
1339 Verified Questions
1339 Flashcards
Source URL: https://quizplus.com/study-set/179
Page 2
Chapter 1: Marketing in Today's Business Milieu
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92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/2497
Sample Questions
Q1) When the text states that marketers need to create tools for ongoing, meaningful measurement of marketing productivity, it is referring to the need for ________.
A) accountability
B) responsibility
C) subjectivity
D) visibility
E) identification
Answer: A
Q2) For successful Marketing (Big M), firms need to align all internal organizational processes and systems around the customer.
A)True
B)False
Answer: TRUE
Q3) GenY consumers tend to value relationships with marketers like State Farm Insurance in exactly the same way as the prior generations.
A)True
B)False
Answer: FALSE
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Chapter 2: Marketing Foundations: Global, Ethical, Sustainable
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Businesses are not confined to a local market due to improved distribution, sophisticated communication tools, product standardization, and the Internet.
A)True
B)False
Answer: TRUE
Q2) Small companies have to invest a lot of money to go global.
A)True
B)False
Answer: FALSE
Q3) Starbucks has been successful in developing "ethically sourced" coffee that is socially responsible and environmentally safe. This demonstrates which element of TBL?
A) people
B) planet
C) product
D) profit
E) promotion
Answer: B
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Page 4
Chapter 3: Elements of Marketing Strategy, Planning, and Competition
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2499
Sample Questions
Q1) In the GE Business Screen model, the business position dimension looks at factors like government regulations, sensitivity to economic trends, and size of the market.
A)True
B)False
Answer: FALSE
Q2) Starbucks is known to have shops located in close proximity to enable customers to shop conveniently. It appears that the coffee shop chain is offering place utility.
A)True
B)False
Answer: TRUE
Q3) The best place in a SWOT analysis for an airline to identify the possibility of acquiring a competitor is ________.
A) external opportunities
B) external threats
C) internal opportunities
D) internal strengths
E) internal weaknesses
Answer: A
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Chapter 4: Market Research Essentials
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) The marketing manager for Joe's Shoe-Mart has decided to conduct descriptive research using primary data. Based on some preliminary research of trade journals and interviews with customers, she knows what questions to ask. However, the customers she wants information from are spread out over many stores in several states. The best technique for her to collect this data would be ________.
A) in-depth interviews
B) case studies
C) focus groups
D) experiments
E) surveys
Q2) Secondary data are collected for some other purpose than the problem currently being considered.
A)True
B)False
Q3) Causal research is useful for identifying characteristics of a target market or determining how customers use a product.
A)True
B)False
Q4) Name and describe the six external forces that affect marketing decisions.
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Chapter 5: CRM, Big Data, and Marketing Analytics
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2501
Sample Questions
Q1) Return on marketing investment (ROMI) looks at marketing as an investment, not an expense.
A)True
B)False
Q2) What type of marketing analytics is being used when data is used from likes for posts on Facebook?
A) Web analytics
B) social media analytics
C) retail analytics
D) CRM analytics
E) demographic analytics
Q3) About the only thing you know for certain about your first version of a marketing dashboard is that it will likely look the same in a year or two.
A)True
B)False
Q4) Customer satisfaction and customer loyalty, two metrics used by brand managers, are metrics used in customer relationship management.
A)True
B)False
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Chapter 6: Understand Consumer and Business Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) Discuss the four e-procurement methods and give an example of when each might be used.
Q2) Boris Jankowski is a salesperson for a manufacturer of beer making equipment. He learns that a regional microbrewery is going to expand into another state. It has created a buying center to purchase the needed equipment. Boris's first job is to ________.
A) discover the budget for the purchase
B) develop criteria for the purchase
C) discover the most important influencer
D) discover who is part of the buying center
E) develop a presentation for the buying center
Q3) Matthew has a new dog and is shopping for a pet grooming tool. He just picks up the first brush he sees and buys it. This is an example of ________.
A) low-involvement purchasing
B) low learning motivation
C) low level of commitment
D) low-involvement learning
E) low-importance purchasing
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Chapter 7: Segmentation, Target Marketing, and Positioning
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) NovoTech Inc. is a manufacturer of PCs, and most of its revenue is generated by selling PCs to consumers. However, the company is struggling to extend the brand into other lucrative product lines such as tablets and smartphones. In this scenario, NovoTech is suffering from the error of ________.
A) underpositioning
B) doubtful positioning
C) overpositioning
D) confused positioning
E) repositioning
Q2) Which of the following statements is TRUE of income segmentation?
A) It is usually analyzed in incremental ranges.
B) It is based on a very quantifiable geographic variable.
C) Marketers seldom use income as a segmenting approach.
D) It is time consuming to study consumers' buying habits based on their income.
E) There is a direct correlation between income and price preferences.
Q3) The final step in target marketing is to develop profiles of each segment under consideration for investment as a target market.
A)True
B)False
Page 9
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Chapter 8: Product Strategy and New Product Development
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2504
Sample Questions
Q1) A product ________ is a group of products linked through usage, customer profile, price points, and distribution channels.
A) form
B) mix
C) line
D) cycle
E) core
Q2) Desktop computers, cell phones, and tablet computers are examples of new-to-the-world products considered disruptive innovations.
A)True
B)False
Q3) Which of the following is an overall evaluation of a product and usually assesses the product's probability of success?
A) business case analysis
B) portfolio review
C) trend prediction
D) situation analysis
E) SWOT analysis
Q4) Explain the four categories of consumer goods and give an example of each.
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Chapter 9: Build the Brand
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90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/2505
Sample Questions
Q1) In an attempt to reduce product thefts in retail stores, companies include antitheft methodology, such as bar coding or magnetic stripes, in the package design that discourages shoplifting. Which of the following package objectives does this exemplify?
A) harmony
B) aesthetics
C) communication
D) protection
E) usage promotion
Q2) Procter & Gamble wanted Crest Vivid White Toothpaste to stand out from competitor brand toothpastes on store shelves, so it created a stand-up package and used a graphics-heavy box. In the context of objectives of packaging, the company focuses on ________.
A) usage promotion
B) quality
C) protection
D) harmony
E) communication
Q3) Compare and contrast customer, company, and competitor brand roles.
Q4) What are the three requirements of labels? Why are these important?
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Chapter 10: Service as the Core Offering
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2506
Sample Questions
Q1) A service is a product in the sense that it represents a bundle of benefits that can satisfy customer wants and needs with physical form.
A)True
B)False
Q2) Gap 5 in the Gap Model of Service Quality is unique in that it is the only gap that occurs ________.
A) between management's and customers' expectations
B) between consumers' expectations and the perception of the service they receive
C) actual service quality specifications and actual service delivery
D) in small businesses but not in larger ones
E) actual service delivery and what a firm promises to deliver
Q3) Define and give examples of the four characteristics of services: intangibility, inseparability, variability, and perishability.
Q4) It is widely accepted that today we operate in an economy that is increasingly focused on tangible offerings-goods-instead of just services.
A)True
B)False
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12
Chapter 11: Manage Pricing Decisions
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) Firms should be careful with a ________ strategy, as price is a cue for developing customer perceptions of product quality. The value proposition may be reduced if a low price belies the product's actual quality attributes.
A) penetration pricing
B) price skimming
C) target ROI
D) competitor-based pricing
E) value pricing
Q2) Firms frequently rely on combinations of pricing tactics in the marketplace rather than putting all their eggs in one basket.
A)True
B)False
Q3) ________ are direct, immediate reductions in price provided to purchasers.
A) Allotments
B) Rebates
C) Offers
D) Discounts
E) Allowances
Q4) Define the four types of channel discounts and provide an example of each.
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Chapter 12: Manage Marketing Channels, Logistics, and Supply Chain
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Cutting out intermediaries will always guarantee that consumers will save money.
A)True
B)False
Q2) ________ is the fastest-growing retail format.
A) Electronic retailing
B) Wholesaling
C) Customer Communities
D) Promotion
E) Franchising
Q3) Nadia works for a major soda distributor. The company decides to buy a transportation company to move its product from its own manufacturing facility to the consumer. This is an example of a(n) ________ vertical marketing system.
A) private
B) intermediated
C) corporate
D) contractual
E) administered
Q4) Explain the important aspects of a value network.
Page 14
Q5) Define disintermediation, and explain why it's common in the electronic channel.
Q6) Explain the difference between a push and pull strategy.
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Page 15
Chapter 13: Promotion Essentials: Digital and Social Media Marketing
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91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/2509
Sample Questions
Q1) ________ is a social media site where users provide short and immediate insights on how they feel or what they are thinking.
A) Twitter
B) LinkedIn
C) Facebook
D) Google Plus
E) Reddit.com
Q2) A marketing manager wants to efficiently reach large numbers of customers in a creative way and she is not concerned about the production costs of the medium. Based on the manager's consideration, ________ will be the most appropriate promotional form.
A) sales promotion
B) public relations
C) personal selling
D) advertising
E) direct marketing and interactive marketing
Q3) Geolocation marketing is the use of geographic data to drive messaging and other marketing decisions.
A)True
B)False
Page 16
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Chapter 14: Promotion Essentials: Legacy Approaches
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Murphy Bros took out an ad in several local papers focusing on how the company was started and how it benefits the community. This is an example of ________ advertising.
A) product
B) pioneering
C) competitive
D) institutional
E) comparative
Q2) Gillette sends out a free razor to induce switching from an older model. This is an example of using ________ as the sales promotion approach.
A) coupons
B) premiums
C) product sampling
D) comparative parity method
E) product placements
Q3) Many people believe that advertising is synonymous with marketing.
A)True
B)False
Q4) Compare and contrast the two major types of advertising and give an example of each.
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