Strategic Marketing Management
Exam Questions
Course Introduction
Strategic Marketing Management explores the processes involved in analyzing market environments, identifying opportunities, and developing effective marketing strategies that align with organizational goals. The course covers essential topics such as market segmentation, targeting, and positioning; competitive analysis; product and brand management; pricing decisions; integrated marketing communications; and the role of digital marketing in today's business landscape. Emphasis is placed on strategic decision-making, long-term planning, and the integration of marketing with other business functions to create value and sustain competitive advantage in dynamic markets. Case studies and real-world applications are utilized to provide practical insights and develop skills critical for marketing leaders.
Recommended Textbook
Marketing Strategy 6th Edition by O.C Ferrell
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10 Chapters
297 Verified Questions
297 Flashcards
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Page 2
Chapter 1: Marketing in Today's Economy
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25 Flashcards
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Sample Questions
Q1) A product that provides the utmost in convenience is said to offer exceptional:
A) time and place utility.
B) place and possession utility.
C) time and possession utility.
D) form and time utility.
E) form and place utility.
Answer: A
Q2) Edmunds.com provides a collection of online services and information pertaining to the automotive market. Edmunds offers reviews. free pricing reports. discussion boards. and links to a variety of car manufacturers. dealers. insurance companies. and finance companies. What role does Edmunds.com play in today's economy?
A) distributor
B) marketspace
C) metamediary
D) metamarket
E) electronic broker
Answer: C
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Page 3
Chapter 2: Strategic Marketing Planning
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Sample Questions
Q1) Explain how and why the process of developing a marketing plan might be more important than the marketing plan document itself. What are the benefits of the planning process irrespective of the actual outcomes of the process?
Answer: The key to the benefits of the planning process is communication, which is vital for synchronizing actions within the firm. As stated in the quote in Chapter 2: "the process of preparing the plan is more important than the document itself. . . . A marketing plan does compel attention, though. It makes the marketing team concentrate on the market, on the company's objectives, and on the strategies and tactics appropriate to those objectives. It's a mechanism for synchronizing action." Research indicates that organizations that develop formal, written strategic marketing plans tend to be more tightly integrated across functional areas, more specialized, and more decentralized in decision making. The end result of these marketing plan efforts is improved financial and marketing performance. This question also coincides with Exhibit 2.4 regarding the key obstacles to developing and implementing marketing plans. Students should note that lack of communication is the major stumbling block to effective marketing planning.
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Chapter 3: Collecting and Analyzing Marketing Information
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Sample Questions
Q1) In the competitive sports drink market. Gatorade pays very close attention to the activities of Powerade. a major __________ competitor that markets drinks that are similar in features and benefits.
A) generic
B) direct
C) brand
D) product
E) total budget
Answer: C
Q2) In many buying situations. customers will buy one product because it complements another product. In these cases of __________ demand. the demand of one product depends on the demand of another product.
A) linked
B) dependent
C) quasi-
D) conjoined
E) derived
Answer: E
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Chapter 4: Developing Competitive Advantage and Strategic Focus
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Sample Questions
Q1) In the marketing strategy for Amazon. the following statement appears: Our strategy is designed to increase the percentage of repeat customers from 80 percent to 85 percent in the next 12 months. This statement is an example of a:
A) quantitative goal.
B) continuous objective.
C) procedural objective.
D) qualitative objective.
E) discontinuous objective.
Q2) In terms of setting goals and objectives. what is considered to be one of the major benefits gained from applying for the Malcolm Baldrige National Quality Award?
A) It promotes the development of discontinuous objectives.
B) It helps the firm to set objectives that are difficult for competitors to copy.
C) It helps the firm to focus solely on customer requirements.
D) It promotes the development of goals that are consistent with the firm's mission.
E) It allows the firm the freedom to pursue other strategic initiatives.
Q3) Identify and explain the major characteristics of marketing goals.
Q4) Identify and explain the major characteristics of marketing objectives.
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Chapter 5: Customers Segmentation and Target Marketing
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Sample Questions
Q1) The basic assumption of __________ is that all customers in the market have similar needs and wants that can be reasonably satisfied with a single marketing program.
A) holistic marketing
B) mass marketing
C) market concentration
D) focused marketing
E) single segment marketing
Q2) Firms that sell luxury products. custom-made products. and services often take the time to significantly modify their products in an effort to precisely match the needs of individual customers. These firms are pursuing what type of approach to market segmentation?
A) individualized marketing
B) niche marketing
C) pinpointed marketing
D) focused marketing
E) one-to-one marketing
Q3) Explain the five different target marketing strategies and give examples of firms that use each one. Also. discuss how firms might approach the targeting of noncustomers.
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Page 7
Chapter 6: The Marketing Program
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Sample Questions
Q1) In most marketing channels for consumer products. the balance of power has shifted to __________ due to their size and buying power.
A) consumers
B) mass merchandise retailers
C) wholesalers
D) brokers and distributors
E) manufacturers
Q2) Discuss the issues associated with the increasing fragmentation of mass media audiences. How are advertisers and media companies coping with the issue?
Q3) Despite conventional thinking. __________ accounts for the bulk of promotional spending in many firms. This is especially true for firms selling consumer products in grocery stores and mass-merchandise retailers.
A) personal selling
B) advertising
C) public relations
D) sales promotion
E) publicity
Q4) Identify and discuss reasons why firms become so infatuated with pricing.
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Chapter 7: Branding and Positioning
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Sample Questions
Q1) If you purchase a notebook computer from Dell. you will note several brand insignias on the outside. such as Dell. Intel. and Microsoft Windows. What type of branding strategy does this example represent?
A) co-branding
B) brand licensing
C) co-marketing
D) brand affinity
E) brand collaboration
Q2) Branding strategy involves much more than developing a clever brand name or brand mark. To be truly effective. a brand should succinctly capture the total offering in a way that:
A) clearly distinguishes it from competiting offerings.
B) utilizes at least 5 brand attributes.
C) answers a question in the customer's mind.
D) clearly ties the brand name together with the brand mark.
E) associates the brand with a customer emotion such as happiness or love.
Q3) Compare and contrast brand loyalty and brand equity. as well as how these concepts are related. Must a brand possess high brand loyalty in order to possess high brand equity? Explain.
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Page 9
Chapter 8: Ethics and Social Responsibility in Marketing Strategy
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Sample Questions
Q1) The principles and standards that define acceptable marketing conduct as determined by the public. government regulators. private-interest groups. competitors. and the firm itself are termed:
A) marketing standards
B) societal standards
C) codes of conduct
D) marketing ethics
E) social responsibility
Q2) Research indicates that being ethical and socially responsible has a number of benefits for the organization. Which of the following \(\bold{\text{IS NOT}}\) one of these benefits?
A) increased customer goodwill
B) increased stakeholder orientation of the organization
C) increased employee commitment and satisfaction
D) increased marketing performance
E) increased competitive orientation
Q3) Why have ethics and social responsibility become so important in recent years? Why is it important that marketing ethics be incorporated into the firm's strategic plan?
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Chapter 9: Marketing Implementation and Control
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Sample Questions
Q1) At WainPort Industries. the firm's senior managers approach marketing implementation with the belief that marketing strategy should be developed at the top of the organization and then transmitted to lower levels where frontline managers and employees implement it. What implementation approach is being used at WainPort?
A) implementation by command
B) implementation through threats
C) implementation as consensus
D) implementation through change
E) implementation by expectations
Q2) In the __________ approach to marketing implementation. marketing strategy is implemented as a part of the overall organizational vision.
A) implementation by command
B) implementation through change
C) implementation through teamwork
D) implementation through consensus
E) implementation as organizational culture
Q3) Identify and explain the three different types of informal controls used by employees. In your discussion. explain how each type of control affects marketing implementation.
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11
Chapter 10: Developing and Maintaining Long-Term Customer Relationships
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Sample Questions
Q1) Which of the following relationship strategies is most likely to be used by a health club as it tries to create social bonds with its clientele?
A) membership programs
B) coupons
C) personalized training
D) customer reminder notifications
E) family discount programs
Q2) Which of the following statements is \(\bold{FALSE}\) regarding the use of the 80/20 rule in managing customer relationships?
A) Advances in technology and data collection techniques allow firms to profile customers in real time.
B) Twenty percent of customers provide 80 percent of business profits.
C) Some customers are too expensive to keep given the low level of profits that they generate.
D) The 80 percent of customers in the bottom tier should be fired so the firm can focus on its top customers.
E) The firm's top customers are the most obvious candidates for retention strategies.
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