Strategic Marketing Study Guide
Questions
Course Introduction
Strategic Marketing is a comprehensive course that delves into the formulation and implementation of marketing strategies to achieve organizational objectives in competitive environments. The course explores key concepts such as market analysis, segmentation, targeting, positioning, and the development of marketing mixes tailored to diverse consumer needs. Students will learn to assess internal and external factors affecting marketing strategies and apply analytical tools to real-world business scenarios. Emphasis is placed on adapting to market trends, leveraging digital technology, and integrating ethical and sustainable practices into strategic decision-making. Through case studies and group projects, the course prepares students to think critically and strategically about marketing challenges faced by dynamic organizations.
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Strategic Marketing 1st Edition by Todd Mooradian
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2
Chapter 1: Overview of Marketing Strategy the Strategic Marketing Process
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Q1) Which growth strategy involves selling more of a firm's existing products to the firm's existing markets?
A) diversification
B) market penetration
C) market development
D) product development
Answer: B
Q2) A firm that has determined which customers to serve,where to conduct business,and how to meet customer needs has most likely developed a ________.
A) profit analysis
B) business portfolio
C) marketing strategy
D) public relations plan
Answer: C
Q3) According to the product-market growth framework,a firm's strategic growth can only occur through market penetration.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Situation Assessment - the External Environment
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Q1) Which term refers to increases in unit costs as production increases?
A) vicious circle
B) economies of scope
C) diseconomies of scale
D) experience curve effects
Answer: C
Q2) Which stage of the marketing process primarily involves monitoring the environment,evaluating the firm's core competencies,and anticipating future events?
A) market segmentation
B) situation assessment
C) budget analysis
D) positioning
Answer: B
Q3) Marketers can most likely use the product life cycle concept as a tool for ________.
A) predicting sales trends
B) targeting niche consumers
C) conducting advertising tests
D) collecting data for product analysis
Answer: A
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Chapter 3: Situation Assessment - the Company
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Q1) The triple bottom line is best defined as a(n)________.
A) metric used to evaluate new and current employees
B) accounting database used by globalized firms of all sizes
C) assessment system for financial and nonfinancial outcomes
D) designation assigned to firms exhibiting corporate social responsibility
Answer: C
Q2) Which of the following provides an answer to these questions: What is our business? Why does our business exist? What are our values? What does our business intend to become?
A) functional strategy
B) operational strategy
C) business portfolio.
D) mission statement
Answer: D
Q3) Competitive advantages are best defined as the ________.
A) strengths and weaknesses of a firm
B) unique skills of a firm's employees
C) technology developed by a firm
D) improvements made by a firm
Answer: A
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Chapter 4: Strategy Formation
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Q1) What is the purpose of conducting a SWOT analysis?
Q2) Core competencies and competitive advantages are the strengths possessed by a firm.
A)True
B)False
Q3) Age,income,lifestyle,and location are examples of ________.
A) perceptual needs
B) segmentation bases
C) segment descriptors
D) psychographic categories
Q4) A firm that selects and focuses on one or a few single segments is most likely using a strategy of ________.
A) product specialization
B) segment specialization
C) selected specialization
D) full market coverage
Q5) A strategy of differentiated marketing will most likely lead to superior value and lower unit costs.
A)True
B)False
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Chapter 5: Implementation
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Q1) The primary goal of positioning is to ________.
A) choose the strongest marketing mix
B) communicate product attributes
C) shape customers' perceptions
D) determine customers' needs
Q2) Product,price,place,promotion,and people are known as the "five Ps" of the
A) marketing mix
B) targeting method
C) balance sheet approach
D) strategic business model
Q3) John,a marketer,has defined the market research objective.What should his next step be in the marketing research process?
A) analyze market-oriented metrics
B) develop a research plan
C) write a research report
D) collect information
Q4) How can a marketer avoid ineffective market research activities? What are the basic steps of the marketing research process?
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Chapter 6: Planning,assessment,and Adjustment
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Q1) In a marketing plan,modifications made to budgets and objectives are typically based on ________.
A) promotions
B) forecasts
C) segments
D) strengths
Q2) ________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth.
A) Operational planning
B) Strategic planning
C) Portfolio analysis
D) SWOT analysis
Q3) A sound marketing plan should do all of the following EXCEPT ________.
A) outline potential risks
B) segment niche consumers
C) set measurable objectives
D) establish financial budgets
Q4) How can staircase analysis improve the accuracy of sales forecasting?
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Chapter 1: Note : Market Definition
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Q1) A marketer collects data from store cash registers to determine whether two products are substitutes for each other.The marketer measures the sales decline of one product after the price of the second product is reduced.Which of the following is the marketer most likely using to define the market?
A) cross-elasticity data
B) customer insight data
C) brand-switching data
D) managerial judgment data
Q2) The ________ level of competition is typically viewed as the industry by marketing managers.
A) product type
B) generic competition
C) product category
D) budget competition
Q3) A supply-side perspective for defining a market attempts to identify all competing products that could serve the needs of a specific customer group.
A)True
B)False
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9
Chapter 2: Note : Context: Pest Analysis
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Q1) Economic communities,which are also known as ________,have developed as a result of political changes in the last half-century.
A) free trade zones
B) open market channels
C) international entities
D) productivity communities
Q2) A PEST analysis is most useful when a marketer needs to ________.
A) develop appropriate marketing objectives
B) analyze a firm's marketing portfolio
C) categorize a business environment
D) implement a new marketing mix
Q3) A firm with a ________ strategy would most likely emphasize standardization over adaptation.
A) multinational
B) marketing
C) contextual
D) global
Q4) In a brief essay,discuss the advantages and disadvantages of standardization strategies and adaptation strategies in a global environment.
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Chapter 3: Note : Customer Assessment - Trends and Insights
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Q1) What is the first step to finding new markets?
A) mining market data
B) evaluating cultural fads
C) creating a marketing mix
D) identifying customer insights
Q2) Curve fitting methods are most likely popular with managers and forecasters because such methods ________.
A) require few data points
B) predict dependent variables
C) focus on demographic elements
D) rely on customer quality reports
Q3) Which term refers to the series of activities involved in extracting value from a product or service?
A) situation assessment
B) trend extrapolation
C) customer value chain
D) cross-impact matrix
Q4) How can marketers identify marketplace trends? Discuss the various methods available for identifying trends.
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Chapter 4: Note : Consumer and Organizational Buyer
Behavior
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Q1) Knowing where customers are in the decision-making process most likely helps marketers to ________.
A) develop effective distribution strategies
B) improve quality control methods
C) reduce post-purchase dissonance
D) provide alternative solutions
Q2) Customers are the ultimate users of a product and include both organizational buyers and distributors.
A)True
B)False
Q3) Why is it important for marketers to understand the consumer decision-making process and hierarchy of effects model? the position of customers on that continuum? In your answer,provide examples of marketing activities that are effective at different stages.
Q4) The buyer decision process consists of five stages.Which of the following is NOT one of these stages?
A) post-purchase processes
B) consumption awareness
C) information search
D) need recognition
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Chapter 5: Note : Competitor Analysis - Competitive Intelligence
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Q1) Sales people are useful resources when assessing the strengths and weaknesses of a competitor due to their regular interaction with customers.
A)True
B)False
Q2) Executive presentations,annual reports,and vision statements are the best resources for a marketer assessing the strengths and weaknesses of a competitor.
A)True
B)False
Q3) When assessing the strengths and weaknesses of a competitor,success factors are typically weighted by ________.
A) importance
B) distribution
C) profit rating
D) expenditure
Q4) As a marketer,how would you benefit from assessing the strengths and weaknesses of a competitor What steps should you follow when conducting such an analysis?
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Page 13
Chapter 6: Note : Company Assessment - Missions and Visions
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Q1) What are the four primary functions of a corporate-level strategy within a multi-business company?
Q2) Visionary goals should be inspiring but not necessarily achievable.
A)True
B)False
Q3) A marketing plan is a type of functional-level strategy.
A)True
B)False
Q4) Respect,simplicity,and togetherness are examples of IKEA's ________.
A) marketing strategy
B) visionary goals
C) core purpose
D) core values
Q5) Including visionary goals and vivid descriptions in vision and mission statements most likely serves the purpose of ________.
A) stimulating organizational progress
B) guiding employee behavior
C) developing competencies
D) aligning resources
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Chapter 7: Note : Company Assessment - the Value Chain
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Q1) Which of the following is NOT a primary activity of typical value chains?
A) service
B) operations
C) human resources
D) outbound logistics
Q2) What is a value chain? Why are the individual activities of the value chain important to a firm's overall strategy?
Q3) Which of the following is used to depict the importance of individual value chain activities on a two-dimensional matrix?
A) integrated analysis
B) dissonance analysis
C) situation assessment
D) strategic priority analysis
Q4) A company has a significant competitive advantage when it is more efficient than a rival in a value chain activity of high strategic importance.
A)True
B)False
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15
Chapter 8: Note : Industry Analysis
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Q1) Which of the following would most likely be a useful tool when analyzing future changes in an industry?
A) strategic priority analysis
B) customer value chain
C) inbound logistics
D) product life cycle
Q2) Customer loyalty,patented technologies,and managerial know-how are market entry barriers that affect both small and large firms.
A)True
B)False
Q3) ________ is a market entry barrier that exists when a service becomes more valuable as more people use it.
A) Forward integration
B) Capital requirements
C) Economies of scale
D) Network effects
Q4) How do potential substitutes threaten sales in an industry? Illustrate your answer with specific examples.
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Chapter 9: Note : the Product Life Cycle
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Q1) Which of the following is NOT a characteristic included in Kano's model of customer satisfaction?
A) delighters
B) must haves
C) reliability functions
D) performance factors
Q2) During the development and introduction stages of the product life cycle,consumers are primarily interested in the ________ of a product.
A) performance
B) appearance
C) convenience
D) price
Q3) Single segments are more likely to split into multiple segments during the growth stage of the product life cycle as customer needs become increasingly specific.
A)True
B)False
Q4) What factors typically lead to price-based competition in the product life cycle?
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Chapter 10: Note : Experience Curve Effects on Cost Reduction
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Q1) What is an experience curve? What methods can a firm use to improve its experience curve?
Q2) A firm's profitability depends on experience curve effects.
A)True
B)False
Q3) A firm with a higher market share will most likely experience a higher return on investment.
A)True
B)False
Q4) According to the law of experience,unit costs decline by ________ each time cumulative output ________.
A) one-half; doubles
B) a fixed percent; doubles
C) a varying percent; triples
D) one-third; increases at an equal rate
Q5) Which of the following is LEAST likely to affect the experience curve?
A) technical progress
B) labor redesign
C) specialization
D) segmentation
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Q1) Economies of scale will most likely lead to ________.
A) industry domination by a few large firms
B) expansion of international niche markets
C) investment in research and development
D) creation of employee training opportunities
Q2) Achieving economies of scale is most important to a firm with ________.
A) high research and development costs
B) complicated organizational structures
C) numerous international market segments
D) multiple business-to-business customers
Q3) Market leaders are typically less efficient than firms with lower share because larger firms suffer from bureaucratic logistical issues.
A)True
B)False
Q4) All of the following are most likely characteristics of firms with economies of scale EXCEPT ________.
A) technology specialization
B) market segmentation
C) labor specialization
D) purchasing power
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Q1) A firm that uses a diversification strategy to sell a new product that is related to its core business would most likely benefit from ________.
A) economies of scale
B) viral marketing
C) brand recognition
D) price protection
Q2) Producing a diverse number of products leads to economies of scale,and producing a high volume of products leads to economies of scope.
A)True
B)False
Q3) ________ occurs when two inputs act together and result in an output that is greater than the sum of the two inputs taken separately.
A) Synergy
B) Indemnity
C) Reciprocity
D) Productivity
Q4) What is the difference between economies of scale and economies of scope? How can a firm create economies of scope?
Page 20
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Chapter 13: Note : Market-Share Effects
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Q1) Market share is best described as a(n)________.
A) value-adding activity
B) internal-oriented objective
C) customer-oriented activity
D) competitor-oriented objective
Q2) Studies show that firms with externally focused strategies outperform firms with internally focused strategies.
A)True
B)False
Q3) In most cases,market share correlates with a firm's ________.
A) culture
B) profitability
C) ancillary sales
D) marketing mix
Q4) What are the positive and negative effects of a strategy based on gaining market share?
Q5) A firm with a higher market share than a competitor will have lower per-unit costs.
A)True
B)False
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Chapter 14: Note : Scenario Analysis
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Q1) Scenario analysis is primarily useful for ________.
A) short-term strategizing
B) internal assessment
C) long-term strategizing
D) economic assessment
Q2) The use of scenario analysis necessitates precise forecasting data.
A)True
B)False
Q3) Factors and forces that influence a firm's future are known as ________.
A) scenarios
B) drivers
C) domains
D) policies
Q4) The scenario analysis process should result in ________ and ________ for each scenario.
A) drivers; tactics
B) futures; realities
C) strategies; tactics
D) drivers; strategies
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Chapter 15: Note : the Marketing Concept
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Q1) ________ are human needs as shaped by individual personality and culture.
A) Exchanges
B) Values
C) Demands
D) Wants
Q2) All of the following are accurate descriptions of a market orientation,EXCEPT which one?
A) Marketing creates value for customers.
B) Marketing involves satisfying customers' needs.
C) Marketing requires conducting extensive market research.
D) Marketing involves managing profitable customer relationships.
Q3) A firm with a market orientation most likely coordinates its strategies and activities around ________ and ________.
A) sales; profits
B) market share; quality
C) employees; consumers
D) customers; competitors
Q4) In most cases,firms evolve from a production focus to a market focus.
A)True
B)False
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Chapter 16: Note : What Is a Marketing Strategy
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Q1) Which term refers to the coordinated means by which an organization pursues its goals and objectives?
A) vision
B) strategy
C) mission
D) code of ethics
Q2) While developing a comprehensive marketing strategy,a firm needs to determine where it will conduct business.Which tool would be most useful?
A) experience curve matrix
B) product-market growth analysis
C) SWOT analysis
D) Porter's generic strategies
Q3) What is a marketing strategy? What are the most important issues and tasks that should be addressed by a marketing strategy?
Q4) The primary purpose of a business strategy is to ________.
A) advance the firm's vision and objectives
B) oversee the firm's core competencies
C) establish an international brand
D) eliminate competing companies
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Chapter 17: Note : Generic Strategies - Advantage and Scope
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Q1) For a firm to maintain a position of cost leadership,________ is critical.
A) market share
B) product innovation
C) brand personality
D) labor specialization
Q2) What characteristics are associated with firms that follow a cost leadership strategy and a differentiation strategy? Illustrate your answer with examples of firms that follow these two different strategies.
Q3) Hybrid strategies that combine differentiation and cost leadership are increasingly popular because they are easily implemented.
A)True
B)False
Q4) Which type of strategy is used by IKEA?
A) cost leadership
B) differentiation
C) customer focus
D) hybrid
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Chapter 18: Note : Generic Strategies - the Value Map
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Q1) Which generic strategy would most likely lead to a strong increase in market share and an average 29% ROI?
A) differentiation
B) superior customer value
C) cost leadership
D) inferior customer value
Q2) The importance-performance-analysis method is most useful during the strategy formulation process when ________.
A) defining the market
B) assessing competitors
C) defining an action plan
D) estimating price sensitivity
Q3) A product that falls below the fair value zone of a value map is perceived to deliver benefits that are ________ the product's cost.
A) greater than
B) less than
C) equal to
D) unrelated to
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Chapter 19: Note : Generic Strategies - Product-Market
Growth Strategies
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Q1) Which growth strategy has the highest success rate and requires the lowest amount of resources?
A) diversification
B) market penetration
C) product development
D) market development
Q2) Research indicates that most firms are more successful at winning new customers than at winning back lost customers.
A)True
B)False
Q3) A firm would most likely add new product features to generate sales during the ________ stage of the product life cycle.
A) introduction
B) maturity
C) decline
D) growth
Q4) What is a diversification strategy? How can a firm reduce the risks associated with diversification?
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Chapter 20: Note : Specific Marketing Strategies
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Q1) An international strategy is most effective if the foreign market resembles the domestic market; however,the organizational structure associated with an international strategy is highly complex.
A)True
B)False
Q2) Which offensive strategy involves addressing needs or market segments that a competitor has neglected?
A) bypass
B) flanking
C) guerilla
D) encirclement
Q3) A ________ strategy involves selling domestic products to a foreign market without making any adaptations.
A) joint venture
B) international
C) multinational
D) transnational
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Chapter 21: Note : Market Segmentation
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Q1) The first step of the segmentation process is to ________.
A) select the target segments
B) identify segmentation variables
C) develop a profile of individual segments
D) group customers into homogeneous segments
Q2) A marketer in the process of segmenting a B2B market should begin with macro variables before assessing micro variables.
A)True
B)False
Q3) What is the primary purpose of market segmentation? What characteristics should segments possess for a firm to make a profit?
Q4) Your new employer has asked you,as a new marketing graduate,to identify a group of potential customers who might respond in a similar way to a given set of marketing efforts.You have been asked to identify a(n)________.
A) market segment
B) target market
C) market strategy
D) market
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Sample Questions
Q1) A firm should make the greatest communication,customer relationship management,and service investments towards which group of customers?
A) high-loyalty, low profitability
B) high-loyalty, high-profitability
C) low-loyalty; low profitability
D) low-loyalty; high profitability
Q2) Which of the following is a true statement about customer relationship management programs?
A) CRM programs enable firms to tailor new products to individuals customers.
B) CRM programs rely primarily on mass market communication systems.
C) CRM programs benefit consumer marketers more than B2B marketers.
D) CRM programs use demographic data to track customer loyalty.
Q3) What is the recommended strategy for dealing with small wallets?
A) make product alterations
B) improve customer service
C) implement cross-selling
D) lower product costs
Q4) What is the purpose of a customer relationship management program? How do such systems benefit marketers?
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Chapter 23: Note : Customer Lifetime Value
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Q1) By analyzing customer lifetime value,a firm can most likely ________ for a specific customer group.
A) implement direct marketing
B) establish marketing strategies
C) evaluate personal selling approaches
D) assess international distribution methods
Q2) The customer portfolio matrix categorizes customers based on ________ and ________.
A) share-of-wallet; production costs
B) customer loyalty rate; market share
C) market share; customer loyalty rate
D) share-of-wallet; customer attractiveness
Q3) By measuring customer retention rates,firms can determine both behavioral loyalty and attitudinal loyalty.
A)True
B)False
Q4) How can a customer portfolio help marketers with customer relationship management? What are the four types of customers identified in a customer portfolio? As a marketer,on which types of customers would you primarily focus?
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Chapter 24: Note : Competitive Advantages
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Q1) Which of the following is NOT a characteristic of a resource that provides a firm with a sustainable competitive advantage?
A) transferable
B) unique
C) tangible
D) valuable
Q2) A resource-based view of strategy development asserts that a firm's success depends on ________.
A) profitability ratios
B) industry attractiveness
C) industry macro environments
D) sustainable competitive advantages
Q3) What is the first step of strategy development if a firm follows a resource-based view?
A) targeting profitable market segments
B) analyzing the firm's strengths and weaknesses
C) assessing the company's external environment
D) identifying sustainable competitive advantages
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Chapter 25: Note : Swot Analysis
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Q1) The primary purpose of using a SWOT analysis is to ________.
A) avoid exposure to threats
B) eliminate internal weaknesses
C) change weaknesses into strengths
D) match opportunities and strengths
Q2) When conducting a SWOT analysis,any identification of strengths and weaknesses should be made in comparison to the competition.
A)True
B)False
Q3) Which quadrant of a SWOT analysis matrix should a firm's strategies be based upon?
A) strengths-opportunities
B) strengths-threats
C) weaknesses-opportunities
D) weaknesses- threats
Q4) Which activity should occur regularly to identify opportunities and threats?
A) changing the marketing mix
B) evaluating market segments
C) conducting internal audits
D) reviewing market fads
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Chapter 26: Note : Targeting
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Q1) An undifferentiated marketing strategy will most likely be successful if the
A) product or service has wide appeal
B) market has many strong competitors
C) product is sold primarily to businesses
D) market segment demands superior value
Q2) A firm that implements a differentiated marketing program will most likely have a complex organizational structure and diluted benefits of scale.
A)True
B)False
Q3) A firm that uses a product specialization strategy would most likely ________.
A) focus on one product that is tailored to one market segment
B) develop many products for one market segment
C) focus on one product that is tailored to all market segments
D) develop many products for all market segments
Q4) Identifying target markets is similar to conducting a portfolio analysis.
A)True
B)False
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Chapter 27: Note : Positioning
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Q1) What is the most complex tool for brand positioning?
A) semantic scale
B) customer value map
C) positioning statement
D) multidimensional scaling
Q2) Unserved or underserved markets are referred to as ________.
A) white space
B) niche markets
C) intangible assets
D) target segments
Q3) A customer value map enables marketers to track how customers view a product based on ________ and ________.
A) cost; features
B) quality; price
C) attributes; loyalty
D) branding; perception
Q4) In multidimensional scaling,brand positions represent cost and quality.
A)True
B)False
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Chapter 28: Note : Customer-Oriented Market Research
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Q1) Which of the following is a benefit associated with conducting market research?
A) low costs
B) risk reduction
C) quick implementation
D) streamlined decision-making
Q2) Data collected through UPC codes at retail stores is most likely ________.
A) syndicated research
B) qualitative research
C) descriptive research
D) causal research
Q3) Which market analysis method is able to identify the value that different segments place on different product attributes?
A) scanner data
B) conjoint analysis
C) panel data
D) experiments
Q4) Information collected from government publications is an example of secondary data.
A)True
B)False
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Chapter 29: Note : Brands and Branding
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Q1) Brand equity reflects the value that ________ attach to the promise of a brand.
A) producers
B) consumers
C) managers
D) marketers
Q2) A brand is best defined as a product's ________.
A) logo
B) trademark
C) official trade dress
D) commercial identity
Q3) Which term refers to nonfuctional elements of a product such as package shape,design,and color?
A) trade dress
B) trademark
C) identity
D) logo
Q4) Brand valuation tools calculate the effectiveness of a specific marketing mix on building brand equity.
A)True
B)False
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Chapter 30: Note : Products - New Product Development
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Q1) What is the greatest challenge during the business analysis phase of new product development?
A) estimating product demand
B) responding to segment shifts
C) calculating production costs
D) determining the marketing mix
Q2) Product improvements,product modifications,and original products can all be classified as ________.
A) new products
B) product concepts
C) pioneer products
D) exploratory products
Q3) In a brief essay,discuss the issues of timing and cannibalization as they relate to the product launch phase of new product development.
Q4) New product development begins with ________.
A) business analysis
B) concept testing
C) idea generation
D) test marketing
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Chapter 31: Note : Products - Innovations
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Q1) In terms of marketing strategy,an innovation is defined by ________.
A) disruptions in consumer price points
B) changes in consumption patterns
C) technological advancements
D) shifts in market segments
Q2) How can a marketing strategist influence the rate of diffusion through the attributes of an innovation?
Q3) The speed at which a truly new product spreads through a market is known as the ________.
A) continuity of innovations
B) diffusion of innovations
C) adoption process
D) branding process
Q4) Which adoption segment is most critical to the success or failure of a truly new product?
A) innovators
B) late majority
C) early majority
D) early adopters
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Chapter 32: Note : Products - Product Portfolios
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Q1) When using the GE/McKinsey Grid,the first step is to ________.
A) define and weight business strength markers
B) evaluate each product's market attractiveness
C) define and weigh market attractiveness markers
D) evaluate each SBU's business strength
Q2) In the BCG matrix,cash cows are characterized by ________ market share and ________ market growth.
A) low; low
B) high; high
C) high; low
D) low; high
Q3) According to the text,the BCG matrix should be used to ________.
A) formulate strategic decisions
B) guide strategic discussions
C) plan the marketing mix
D) generate innovations
Q4) Stars in the BCG matrix are typically market leaders in low-growth markets.
A)True
B)False
Q5) What are some of the limitations of the BCG matrix?
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Chapter 33: Note : Pricing Strategies
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Q1) Which of the following is best for the success of a skimming strategy?
A) high investments in capacity
B) high market-entry barriers
C) high economies of scale
D) high price sensitivity
Q2) In a brief essay,discuss some of the short-term and long-term effects of price-based promotions.
Q3) An advertisement for Discount Tire states,"We match all competitors' prices." This is most likely an example of ________.
A) penetration
B) skimming
C) collusion
D) signaling
Q4) Price collusion,price fixing,and price signaling are illegal pricing strategies.
A)True
B)False
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Q1) Which of the following is the LEAST controllable element of the communications mix?
A) buzz marketing
B) personal selling
C) direct marketing
D) point-of-purchase sales
Q2) Which term refers to a marketer's ability to catalogue the members of a target market segment?
A) diverting
B) specificity
C) customization
D) addressability
Q3) A marketer would most likely use an FCB Grid to ________.
A) identify market segments with unmet needs
B) determine the ROI of a marketing campaign
C) understand consumer motivation
D) evaluate the firm's SBUs
Q4) Personal selling is the most frequently used communication tool in B2B markets. A)True
B)False
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Chapter 35: Note : Place - Distribution
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Q1) What is the most significant problem associated with a multiple channel distribution system?
A) inadequate distribution intensity
B) unclear channel ownership
C) channel functionality
D) channel conflict
Q2) Which term refers to the process of delivering products and services to customers?
A) logistics
B) distribution
C) channel management
D) supply chain management
Q3) An intensive distribution strategy is most suitable for which consumer product category?
A) convenience products
B) innovative products
C) unsought goods
D) luxury items
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Q1) The purpose of a market forecast is to estimate future ________.
A) sales in an industry
B) budget constraints
C) sales of a product
D) market share
Q2) Which of the following is a semi-fixed marketing cost?
A) marketing research
B) public relations
C) promotions
D) discounts
Q3) Which sales forecasting method is most appropriate for industrial products?
A) market tests
B) expert opinions
C) customer surveys
D) time-series analyses
Q4) Which sales forecasting method would be the LEAST expensive option for a firm?
A) market tests
B) expert opinions
C) customer surveys
D) sales force estimates
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Chapter 37: Note : Staircase Analysis
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Q1) What does a gap in a staircase analysis most likely represent?
A) misidentified market segments
B) shrinking brand loyalty
C) lost potential sales
D) outdated products
Q2) Aided recall and unaided recall are methods for measuring ________.
A) brand loyalty
B) share of wallet
C) brand awareness
D) market potential
Q3) A customer who buys ________ is a cross-buyer.
A) one product when a vendor has discounted prices
B) one product from a vendor on a regular basis
C) multiple products from many vendors
D) multiple products from one vendor
Q4) A staircase analysis is a tool used by marketers to ________.
A) develop specific objectives
B) create innovative products
C) assess competitors' strengths
D) analyze strategic business units
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Chapter 38: Note : Assessment and Adjustment
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Q1) Which of the following involves testing and questioning the values,assumptions,policies,and strategies of a specific marketing mix?
A) progress control
B) staircase analysis
C) premise control
D) SWOT analysis
Q2) Which of the following formulas would be best for calculating the total contribution margin?
A) sales revenue - total variable cost
B) \(\frac{\text { unit price - variable cost per unit }}{\text { unit price }}\)
C) price per unit - total cost per unit
D) \(\frac{\text { revenueper product }}{\text {overall revenue }}\)
Q3) The primary purpose of using marketing metrics is to ________.
A) identify the performance of a business unit
B) correct problems with the marketing strategy
C) determine what factors drive a firm's performance
D) evaluate the assumptions underlying a marketing plan
Q4) What is a financial ratio? Why should marketers be pay close attention to financial ratios?
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