Marketing Strategy
Final Test Solutions
Course Introduction
Marketing Strategy explores the critical role of strategic planning in achieving organizational marketing objectives. This course covers the analysis of markets, competitors, and customer behavior to develop effective marketing plans. Students will learn to formulate, implement, and evaluate strategies in areas such as positioning, segmentation, targeting, branding, and value proposition development. Emphasis is placed on integrating theoretical frameworks with real-world case studies to equip students with practical tools for decision-making in dynamic business environments. Through collaborative projects and simulations, students gain hands-on experience in crafting and executing marketing strategies that drive competitive advantage and long-term business growth.
Recommended Textbook
Foundations of Marketing 5th Edition by John Fahy
Available Study Resources on Quizplus 12 Chapters
1403 Verified Questions
1403 Flashcards
Source URL: https://quizplus.com/study-set/2911
Page 2
Chapter 1: The Nature of Marketing
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161 Verified Questions
161 Flashcards
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Sample Questions
Q1) Two essential ingredients are important in any mission statement: they should be _______ and be specific to the individual organization.
A)existing
B)enduring
C)educational
D)efficient
Answer: B
Q2) Three conditions must be met before the marketing concept cam be applied. Firstly, company activities should be focused on providing customer satisfaction. Secondly, the achievement of customer satisfaction relies on an integrated effort and thirdly, for an integrated effort to come about management must believe that corporate goals can be achieved through _______.
A)scanning the market
B)matching the competition
C)satisfying employees
D)satisfying customers
Answer: D
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Page 3
Chapter 2: The Global Marketing Environment
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126 Verified Questions
126 Flashcards
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Sample Questions
Q1) "Gradual Strategic Repositioning" involves which of the following?
A)Involves a gradual and ad hoc adaptation to the changing marketing environment
B)Involves a gradual and planned changing of a company's promotional strategy
C)Involves a gradual, planned and continuous adaptation to the changing marketing environment
D)Involves a gradual and planned refocus of a company's target market
Answer: C
Q2) To be successful in the marketplace, companies must not only consider customers as an important element of the microenvironment, but must also consider ________ and how the company can gain a differential advantage over them.
A)competitors
B)suppliers
C)distributors
D)employees
Answer: A
Q3) Marketing myopia is a powerful contributor to inertia.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Understanding Customer Behaviour
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Four types of choice criteria are used when evaluating alternatives: technical, economic, social and _______.
A)cultural
B)personal
C)group
D)market
Answer: B
Q2) Which of the following is more common when a household consists of two income earners?
A)Slower decision making
B)Faster decision making
C)Individual decision making
D)Joint decision making
Answer: D
Q3) A "buying centre" is also known as which of the following?
A)The buyer
B)The purchasing department
C)Decision making unit
D)Procurement specialists
Answer: C
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Chapter 4: Marketing Research and Customer Insights
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) Research that involves the preliminary exploration of a research area prior to the main quantitative data collection stage is called?
A)Exhaustive research
B)Exploratory research
C)Continuous research
D)Ad-hoc research
Q2) Sampling frame is a term used in research to denote the selection of a sub-set of the total population in order to interview them.
A)True
B)False
Q3) A CRM system has allowed many companies to find that they are subject to the Pareto principle, that is, that 80 percent of their profits may come from _______ percent of their customers.
A)20
B)40
C)30
D)10
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Chapter 5: Market Segmentation, Targeting and Positioning
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Which of the following statements is true?
A)Repositioning may be necessary as market opportunities and threats develop
B)Repositioning may not be necessary when you have a well established brand
C)Repositioning requires you to change your product
D)Repositioning requires good sales staff getting the most optimal shelf space for their brands
Q2) Undifferentiated marketing is which of the following?
A)A market coverage strategy where a company decides to ignore market segment differences and develops a single marketing mix for the whole market
B)A market coverage strategy where a company decides to target individual customers and develops separate marketing mixes for each
C)A market coverage strategy where a company decides to tailor its promotional strategy for each and every customer
D)A market coverage strategy where a company decides to target several market segments and develops separate marketing mixes for each
Q3) Segmentation is effective when buyer needs in different segments are similar.
A)True
B)False
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Chapter 6: Value Through Products and Brands
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) The strength of a brand's position in the marketplace is built upon six elements: brand heritage, brand domain, brand values, brand assets, brand personality and brand
A)reflection
B)association
C)liabilities
D)rejection
Q2) Brands which use a distinctive product offering created by the use of a name, symbol, design, packaging, or some combination of these are intended to do which of the following?
A)To create greater profits
B)To differentiate it from its competitors
C)To avoid imitation from own labels
D)To secure distribution channels for their products
Q3) Which of the following is a potential pitfall of brand extensions?
A)Poor sales
B)Dissatisfaction
C)Cannibalization
D)Expense of launch
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Page 8
Chapter 7: Value Through Services, Relationships and Experiences
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) Staff appearance, décor and layout refer to which of the following dimensions of service quality?
A)Access
B)Credibility
C)Tangibles
D)Courtesy
Q2) Which of the following is a barrier to the matching of expected and perceived service levels?
A)Conceptions
B)Exaggerated promises
C)Adequate delivery
D)None of the above
Q3) Which of the following influence customer expectations of service?
A)Word-of-mouth communications
B)Public needs
C)Future experience
D)None of the above
Q4) All service encounters have the potential for long term relationships.
A)True
B)False
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Chapter 8: Value Through Pricing
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) A "build objective" implies the maintenance or raising of profit margins even though sales and/or market share are falling.
A)True
B)False
Q2) A key reason for the success of many low-cost operators is their flexible approach to pricing, which is known as _______ pricing.
A)static
B)dynamic
C)primary
D)secondary
Q3) How competitors react to pricing changes depends on which of the following?
A)Their past reputation for price changes
B)Depends on their competitive situation
C)Their strategic objectives
D)All of the above
Q4) A combination of high price and high promotion expenditure is called a rapid penetration strategy.
A)True
B)False
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Chapter 9: Distribution: Delivering Customer Value
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Which of the following companies operate a "Manufacturer and Wholesaler" level of franchising?
A)McDonalds
B)Coca Cola
C)Benetton
D)Ford
Q2) Physical distribution decisions focus on the efficient movement of goods from producer to _______ to the consumer.
A)intermediaries
B)interdependents
C)interfirms
D)interns
Q3) In general, suppliers have greater power in the distribution channel than supermarket chains.
A)True
B)False
Q4) Direct distribution is less prevalent when buyers are few in number and buy large quantities.
A)True
B)False
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Chapter 10: Integrated Marketing Communications 1: Mass Communications Techniques
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125 Verified Questions
125 Flashcards
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Sample Questions
Q1) A pull strategy involves which of the following?
A)A pull strategy involves an attempt to sell into channel intermediaries (e.g. retailers) and is dependent on personal selling and trade promotions
B)A pull strategy involves bypassing intermediaries to communicate to consumers directly
C)A pull strategy involves a small promotional expenditure at the start of an advertising campaign and gradually increasing expenditure to improve the longevity of a campaign
D)A pull strategy involves small promotional expenditure throughout the duration of an advertising campaign due to product unsuitability to advertising campaigns
Q2) Which of the following is a consumer promotion tool?
A)Premiums
B)Publicity
C)Sponsorship
D)Allowances
Q3) The traditional system of agency payment was by fees from the media owners.
A)True
B)False
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Page 12
Chapter 11: Integrated Marketing Communications 2: Direct Communications Techniques
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67 Verified Questions
67 Flashcards
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Sample Questions
Q1) Which of the following is not a type of information recorded on a database?
A)Transactional information
B)Promotional information
C)Customer and prospect information
D)Economic information
Q2) According to extensive research, which of the following are the two most important qualities needed by sales people?
A)Memory and motivation
B)Reliability and focus
C)Empathy and ego drive
D)Resilience and direction
Q3) Which of the following is not an aim of database marketing?
A)To stay close to customers by recording and storing an electronic database memory of customers, prospects and all communication and transactional data
B)To control the dialogue between the organization and the customer
C)To stimulate demand
D)To provide information to a target audience
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Page 13
Chapter 12: Digital Marketing
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) A benefit of using netnography is its ability to _______.
A)reach niche communities
B)reach mass communities
C)increase sales
D)all of the above
Q2) The digital environment allows many options for communication between a business and its customers and can accommodate _______ communication.
A)B2C
B)B2B
C)C2B
D)all of the above
Q3) The position of any page on a search engine results page is determined by the _______ of the search engine, which matches keywords entered by the user with keywords on various websites.
A)status
B)age
C)algorithm
D)netiquette
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Page 14