Strategic Marketing
Question Bank
Course Introduction
Strategic Marketing explores the process of analyzing, developing, and implementing marketing strategies that align with organizational objectives and respond to dynamic market environments. The course covers essential topics such as market research, segmentation, targeting, positioning, and competitive analysis. Students learn how to craft effective marketing plans, leverage digital and traditional marketing channels, and evaluate marketing performance. Through case studies and real-world scenarios, the course emphasizes decision-making, innovation, and the strategic use of marketing to achieve sustainable competitive advantage.
Recommended Textbook
Business Marketing Management B2B 11th Edition by
Available Study Resources on Quizplus
15 Chapters
1161 Verified Questions
1161 Flashcards
Source URL: https://quizplus.com/study-set/1864
Page 2
Michael D. Hutt
Chapter 1: A Business Marketing Perspective
Available Study Resources on Quizplus for this Chatper
87 Verified Questions
87 Flashcards
Source URL: https://quizplus.com/quiz/37208
Sample Questions
Q1) The value elements that contain essentially the same performance characteristics as the next best alternative and the value elements that render the supplier's offering either superior or inferior to the next best alternative are known respectively as:
Answer: Points of parity and points of difference
Q2) Because demand in business markets is derived from consumer markets,business must carefully monitor demand patterns and changing consumer buying preferences. Because of these changes,the demand for many industrial products can be described as:
Answer: Fluctuating demand
Q3) Planning in the business marketing setting requires more functional interdependence and a closer relationship to total corporate strategy than does planning in the consumer goods sector.
A)True
B)False
Answer: True
Q4) Those that have the power in the business buying process are referred to as:
Answer: Key buying influentials
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Organizational Buying Behavior
Available Study Resources on Quizplus for this Chatper
76 Verified Questions
76 Flashcards
Source URL: https://quizplus.com/quiz/37209
Sample Questions
Q1) Influencers control information to be reviewed by other members of the buying center.
A)True
B)False
Answer: False
Q2) As the risk associated with an organizational purchase decision increases,which of the following occur?
A)The buying center becomes smaller.
B)The information search is a active and a wide variety of information sources are consulted.
C)Buying center participants invest greater effort.
D)All of the above occur.
E)Only (b)and (c)occur.
Answer: E
Q3) ____________________forces involve job function,past experience,and buying motives of individual decision participants
Answer: Individual
Q4) The first stage of the Organizational Buying Process involves: Answer: Problem Recognition
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Customer Relationship Management Strategies for Business Markets
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/37210
Sample Questions
Q1) Value is best defined as the economic,technical,service and social benefits received by a customer firm in exchange for the:
Answer: price paid for a product offering.
Q2) When supply needs are complex,the buying firm is less likely to opt for a close relationship with a supplier.
A)True
B)False
Answer: False
Q3) 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
Q4) A cross-functional process for achieving a continuing dialogue with customers,with personalized treatment of the most valuable customers and ensuring customer retention and the effectiveness of marketing initiatives is known as:
Answer: Customer relationship management
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Segmenting the Business Market and Estimating
Segment Demand
Available Study Resources on Quizplus for this Chatper
104 Verified Questions
104 Flashcards
Source URL: https://quizplus.com/quiz/37211
Sample Questions
Q1) The Thompson Spring Company has developed a separate marketing strategy for each of the industries that uses its products. These industries include makers of machine tools,bicycles,surgical devices,telephones,and missile systems. This provides an illustration of segmentation on the basis of:
A)usage rate.
B)product application.
C)type of buying situation.
D)the structure of procurement.
E)key decision criteria.
Q2) The qualitative approach that most closely resembles the executive panel method of sales forecasting is:
A)input/output analysis.
B)the sales force composite.
C)market surveys.
D)time series methods.
E)regression analysis.
Q3) Sharing of downstream data along with replenishment plans and sales forecasts describe customers who align with____________________-tier services.
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Business Marketing Planning: Strategic Perspectives
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/37212
Sample Questions
Q1) _____ are the methodologies and routines companies use to transform competencies,assets,and other inputs in to value for customers.
A)Core competencies
B)Core strategies
C)Core processes
D)Value networks
E)Customer interfaces
Q2) All participants in the business marketing planning process are evaluated on the bases of sales,profits,and market share.
A)True
B)False
Q3) The extent to which the business concept is common to competitors on dimensions shared by the customer is a factor than can determine the potential profit of a business concept.
A)True
B)False
Q4) The ____________________clarifies the condistions that will create value for the customer.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Q5) The____________________determines how the firm chooses to compete.
Chapter 6: Business Marketing Strategies for Global Markets
Available Study Resources on Quizplus for this Chatper
77 Verified Questions
77 Flashcards
Source URL: https://quizplus.com/quiz/37213
Sample Questions
Q1) Multidomestic industries do not need a global strategy because the focus should be on developing a series of distinct domestic strategies.
A)True
B)False
Q2) Which of the following modes of international market entry provides for greater potential returns and a greater degree of control over operations?
A)licensing
B)wholly-owned subsidiaries
C)contract manufacturing
D)exporting
E)franchising
Q3) In entering high-risk country-markets,firms can reduce their risk exposure by adopting low-commitment modes of entry such as:
A)licensing.
B)wholly-owned subsidiaries.
C)contract manufacturing.
D)all of the above
E)(a)and (c)only
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Managing Products for Business Markets
Available Study Resources on Quizplus for this Chatper
66 Verified Questions
66 Flashcards
Source URL: https://quizplus.com/quiz/37214
Sample Questions
Q1) For high-technology firms,well-recognized executives and competitive actions can both be drivers of brand attitude change.
A)True
B)False
Q2) Consider this dilemma: A product manager finds that organizational buyers view a particular product attribute as being both important and differentiating;unfortunately,the firm's brand is viewed as being inferior to competing brands on this attribute. In this situation,an appropriate generic strategy for the product manager to follow would be to:
A)increase the importance of the attribute to customers.
B)increase the difference between the competition and the firm's brand.
C)convert this determinant attribute into a non-determinant one.
D)all of the above
E)(a)and (b)
Q3) Custom-built items are created to meet the needs of one or a small group of customers.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
9
Chapter 8: Managing Innovation and New Industrial
Product
Development
Available Study Resources on Quizplus for this Chatper
74 Verified Questions
74 Flashcards
Source URL: https://quizplus.com/quiz/37215
Sample Questions
Q1) "Lead users" are consistent early adopters of new technologies.
A)True
B)False
Q2) Please identify the incorrect statement concerning autonomous strategic behavior.
Autonomous strategic behavior:
A)normally relies on the emergence of an informal network of participants.
B)exhibits communication flows that depart from the formal organizational work flow pattern.
C)is analogous to entrepreneurial activity.
D)is generally activated by an individual manager defining a market need that diverges from the organization's existing concept of strategy.
E)None of the above statements is incorrect.
Q3) 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
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Managing Services for Business Markets
Available Study Resources on Quizplus for this Chatper
75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/37216
Sample Questions
Q1) ____________________combine products and services into innovative value propositions for customers .
Q2) Simultaneous production and consumption is a unique service characteristic. From the following list,choose the marketing implication most closely related to this characteristic.
A)planning capacity on the basis of peak demand
B)buyer-seller interaction requires that the service be done "right"
C)focusing promotion on the advantages of non-ownership
D)using pricing and promotion to even out demand peaks and valleys
E)developing systems that minimize deviations and human error
Q3) Because business marketers cannot always provide flawless service,the response to service problems is critical to future success. Explain how an excellent service recovery process can lead to a differential advantage for firms. How does a business marketer figure out how much to spend on service recovery and service quality?
Q4) In the marketing of business services,items such as logos,uniforms,guarantees,and color schemes are examples of physical evidence of the actual service.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 11
Chapter 10: Managing Business Marketing Channels
Available Study Resources on Quizplus for this Chatper
83 Verified Questions
83 Flashcards
Source URL: https://quizplus.com/quiz/37217
Sample Questions
Q1) The need to employ more than one type of industrial channel of distribution arises as a result of:
A)different target markets sought by the firm.
B)a geographically concentrated market.
C)different marketing tasks associated with different products produced by the firm.
D)both (a)and (c)
E)all of the above
Q2) Which of the following are tasks that are performed by channels of distribution?
A)Arranging financing.
B)Storage.
C)Transportation.
D)All of the above.
E)Only b and c.
Q3) Channel length decreases:
A)when the purchase becomes more significant.
B)when market or industry concentration increases.
C)when customer potential increases.
D)All of the above.
E)Only a and b.
To view all questions and flashcards with answers, click on the resource link above.
Page 12
Chapter 11: Supply Chain Management
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/37218
Sample Questions
Q1) The use of slower modes of transportation within the logistical network results in:
A)lower variable costs for product movement.
B)higher customer service levels.
C)higher investments in inventory.
D)all of the above
E)(a)and (c)only
Q2) The supply chains for products that could be categorized as "innovative" (e.g.,high-tech products)differ from the supply chains for functional products because: A)demand is less predictable for innovative products.
B)attention centers on capturing high profits during peak demand periods for the innovative product.
C)minimizing inventory costs is not a major concern with innovative products.
D)all of the above E)(a)and (b)only
Q3) When designing the supply chain,firms should concentrate on creating____________________processes for functional products and____________________processes for innovative products.
To view all questions and flashcards with answers, click on the resource link above.
13
Chapter 12: Pricing Strategy for Business Markets
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/37219
Sample Questions
Q1) If the business marketer's product input assumes an insignificant role in the final product's total cost,demand is likely:
A)elastic.
B)price sensitive.
C)inelastic.
D)small.
Q2) A firm developed a new component part (i.e.,a timing mechanism)that can be effectively used in dishwashers,automobiles,toys and medical equipment. Describe the process that the firm might follow in measuring the elasticity of demand for the new product. Is it likely to vary by application?
Q3) During the innovative firm's monopoly period,a _____ is optimal if there is a relatively high repeat purchase rate for nondurable goods or if a durable good's demand is characterized by diffusion.
A)life cycle costing pricing policy
B)skimming policy
C)penetration policy
D)time segmentation policy
E)bid price policy
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: Business Marketing Communications:
Advertising and Sales
Promotion
Available Study Resources on Quizplus for this Chatper
73 Verified Questions
73 Flashcards
Source URL: https://quizplus.com/quiz/37220
Sample Questions
Q1) The most successful advertisements directed at business customers tend to focus on:
A)the physical product.
B)product attributes.
C)product benefits.
D)indirect appeals to action.
E)the price of the advertised product.
Q2) Generally,social media can augment an offering to expand the value proposition,thereby changing what people buy and how they relate to a brand
A)True
B)False
Q3) Which of the following statements is (are)true about the Internet's impact on marketing communications?
A)Changed from a one-way to a two-way process.
B)Customization of advertising messages.
C)Improved customer service.
D)All of the above.
E)Only (a)and (b).
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Business Marketing Communications:
Managing the Personal Selling Function
Available Study Resources on Quizplus for this Chatper
77 Verified Questions
77 Flashcards
Source URL: https://quizplus.com/quiz/37221
Sample Questions
Q1) Both behavior-based and outcome-based measures are used by sales managers to evaluate salesperson performance. When the system is outcome-based,the sales manager:
A)employs objective measures (sales results,market share gains)to evaluate performance.
B)directly monitors the activities of salespeople.
C)uses subjective measures of salesperson performance.
D)emphasizes a compensation system with a large fixed component.
E)measures the self-esteem and verbal intelligence of each salesperson.
Q2) The sales resource grid indicates that a particular territory (planning and control unit)possesses high PCU opportunity and high sales organization strength. This suggests which of the following sales resource assignments?
A)Invest a high level of sales resources to take advantage of opportunity.
B)Invest a minimal level of sales resources.
C)Invest a moderate level of sales resources to keep current position strength.
D)Either direct a high level of sales resources to improve position or shift resources to other PCUs.
Q3) Why is training so important to selling organizations? What are some of the keys to effective salesperson training programs?
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Marketing Performance Measurement
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/37222
Sample Questions
Q1) Examples of product measures for efficiency and effectiveness control include which of the following?
A)Sales by market segments.
B)Logistics costs by logistics activity by channel.
C)New accounts per time period.
D)All of the above.
E)Only (a)and (c).
Q2) St. Paul Equipment Company experienced a 15 percent sales gain that,on the surface,appears favorable. However,if total industry sales are up 30 percent,an analysis of ____ could suggest that the firm has not fared well relative to competitors.
A)expense-to-sales ratios
B)profit
C)market share
D)distribution costs
E)sales by channel type
Q3) The balanced scorecard attempts to keep the sales of a business unit in balance with profit growth.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 17