Marketing Strategy
Practice Questions
Course Introduction
Marketing Strategy explores the principles and practices involved in developing, implementing, and evaluating successful marketing plans within competitive and dynamic environments. The course examines key concepts such as market segmentation, targeting, positioning, and differentiation while integrating analytical and creative approaches for decision-making. Students will learn how to analyze market opportunities, understand consumer behavior, and leverage product, price, promotion, and distribution strategies to achieve organizational goals. Real-world case studies and practical applications are used to illustrate strategic planning, execution, and measurement, preparing students to craft effective marketing strategies for a variety of industries.
Recommended Textbook
Marketing 11th Edition by Charles W. Lamb
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Page 2
Chapter 1: An Overview of Marketing
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Sample Questions
Q1) Explain the societal marketing orientation and describe an example of a company implementing this orientation.
Answer: The societal marketing orientation is the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives,but also to preserve or enhance individuals' and society's long-term best interests. Students' examples will vary depending upon what commercials,advertisements,and publicity they have been exposed to.All should select a company that exists not only to satisfy customers' wants and needs and to meet organizational objectives but also to preserve or enhance individuals' or society's long-term best interests.
Q2) Market-oriented firms primarily focus their efforts upon:
A) improving the technological skills and competitive advantages of the firm
B) satisfying the organization's needs for low overhead
C) achieving the company's societal responsibilities inexpensively
D) distributing goods and services
E) satisfying the wants and needs of their customers
Answer: E
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Chapter 2: Strategic Planning for Competitive Advantage
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Sample Questions
Q1) PepsiCo's annual report has the following statement: "Our business is to increase the value of our shareholder's investment.We do this through sales growth,cost controls and wise investment of resources.We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe,wholesome,economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity." This statement is an example of PepsiCo's:
A) marketing mix strategy
B) quantifiable goal
C) mission statement
D) statement of economic potential
E) market segmentation strategy
Answer: C
Q2) Refer to Delta Faucet Company.The Delta Faucet Company is a _____ of Masco.
A) target market
B) transactional division
C) strategic business unit (SBU)
D) share-bearing unit (SBU)
E) situational business usage (SBU)
Answer: C
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Page 4
Chapter 3: Ethics & Social Responsibility
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Sample Questions
Q1) Which of the following statements describes ethics?
A) Ethics are the moral principles or values that generally govern the conduct of an individual.
B) Ethics is the standard of behavior by which conduct is judged.
C) Morals are a foundation for ethical behavior.
D) Ethical values are situation specific and time oriented.
E) All of the statements describe ethics.
Answer: E
Q2) While there are plenty of benefits for a socially responsible company,there is no clear-cut determination that ignoring social responsibility will have an adverse impact.
A)True
B)False
Answer: False
Q3) Unfortunately,most businesspeople have not progressed beyond the self-centered and manipulative actions of preconventional morality.
A)True
B)False
Answer: False
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5
Chapter 4: The Marketing Environment
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Sample Questions
Q1) Champion Lyte is a sugar-free sports drink designed to replenish electrolytes lost during activity or illness.Since the product was designed primarily for diabetics,health care professionals who treat diabetics are its primary target market.
A)True
B)False
Q2) When the Federal Trade Commission (FTC)issues a final directive to a firm to stop engaging in an activity the FTC considers illegal,this directive is a(n):
A) order to remand
B) stopgap measure
C) order of cessation
D) cease-and-desist order
E) corrective action order
Q3) The external environment _____.
A) can be controlled in much the same manner as the internal marketing mix
B) cannot be influenced by marketing managers
C) does not change over time
D) does not have an impact on Fortune 500 companies
E) must be continually monitored by marketing managers
Q4) Compare and contrast basic and applied research. Give an example of each.
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Chapter 5: Developing a Global Vision
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Sample Questions
Q1) When developing countries began encouraging foreign investors and imports,companies like Black & Decker and Pillsbury offered a wide array of products to countries throughout the world.Because of enormous populations in developing countries,these companies predicted a potential for strong annual sales.However,in addition to total population,companies must not overlook _____ factors such as distribution of people within a country and household incomes.
A) demographic
B) political
C) cultural
D) educational
E) country resource
Q2) Briefly define licensing and joint ventures as means of engaging in global marketing.Be sure to demonstrate both the similarities of the two processes and how they differ.
Q3) The U.S.government prohibits the importation of Havana cigars because of political differences with Cuba.This is an example of an import exchange control.
A)True
B)False
Q4) Why is developing a global vision important for firms in the United States?
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Chapter 6: Consumer Decision Making
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Sample Questions
Q1) All of the following are examples of marketing-controlled information sources EXCEPT:
A) a friend's recommendation on the brand of product to buy
B) brochures about kitchen products sold by the Home Depot
C) a coupon for $1.00 off of laundry detergent
D) recipe for oatmeal raisin cookies on a package of oatmeal
E) an advertisement in a magazine
Q2) Christian understands that a Black Diamond brand tent is suitable for several weather conditions,such as rain,snow,and sweltering heat.This is a description of his _____ about the Black Diamond tent
A) beliefs
B) attitudes
C) standards
D) motives
E) valuations
Q3) The purchase of products like soft drinks,cleaning products,and gasoline generally exemplify routine response behavior.
A)True
B)False
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Page 8
Chapter 7: Business Marketing
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Sample Questions
Q1) For a police department,firearms,computers,printers,fax machines,and patrol vehicles are all examples of _____ because they are shown as expenses on the yearly accounting statements.
A) mobile installation
B) component part
C) processed material
D) supply
E) accessory equipment
Q2) A industrial cleaning products distributor needed to hire a janitorial service to keep his establishment clean so he chose one of his customers for the job.This is an example of _____.
A) nested demand
B) derived demand
C) reciprocity
D) elastic demand
E) circular buying
Q3) Discuss the difference between disintermediation and reintermediation.Give an example of a company you are aware of that used these strategies.
Q4) Why is customer service an important factor in business marketing?
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Chapter 8: Segmenting and Targeting Markets
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Sample Questions
Q1) A(n)_____ strategy entails selecting one segment of a market to target,and focuses on understanding the needs,motives,and satisfactions of the members of that segment,as well as on developing a highly specialized marketing mix.
A) universal product
B) undifferentiated targeting
C) concentrated targeting
D) market development
E) product development
Q2) A series of stages determined by a combination of age,marital status,and the presence or absence of children is known as the:
A) generation gap
B) family life cycle
C) maturation process
D) segmentation cycle
E) psychographic process
Q3) Increasing share of customer means getting more customers.
A)True
B)False
Q4) What is product differentiation and how can it be achieved?
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Chapter 9: Decision Support Systems and Marketing Research
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Sample Questions
Q1) Volkswagen developed an 18-month-long project to gain a better understanding of the American culture so it could develop cars more appealing to this market.The research project was called Moonraker.Moonraker was intended to play a(n)_____ role in Volkswagen's marketing research.
A) diagnostic
B) descriptive
C) predictive
D) heuristical
E) demonstrative
Q2) What is the last step of the marketing research process?
A) selecting sampling procedures
B) bill the client
C) analyze data
D) follow-up
E) prepare and present the report
Q3) Discuss two advantages and two disadvantages of using primary data.
Q4) Discuss two advantages and two disadvantages of using secondary data.
Q5) Discuss the four types of observation research and give an example of how each is used in marketing research.
Q6) List in order the seven steps of the marketing research process. Page 11
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Chapter 10: Product Concepts
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Sample Questions
Q1) Which of the following is the best example of a convenience product?
A) concert tickets
B) chewing gum
C) jeans
D) chemical for the swimming pool
E) a birthday present
Q2) Define cobranding and describe the three different types of cobranding.
Q3) When the manufacturer of French's classic yellow mustard introduced French's Dijon mustard,French's Honey mustard,and French's Sweet Onion mustard,it was an example of cobranding.
A)True
B)False
Q4) Which of the following products is most likely to be considered an example of a heterogeneous shopping product?
A) apartment
B) laundry detergent
C) electric automobile
D) package of pens
E) dog food
Q5) Compare and contrast an express warranty and an implied warranty.
Page 13
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Chapter 11: Developing and Managing Products
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Sample Questions
Q1) Refer to Fitbit. The process by which the adoption of this innovative product spreads is called the:
A) diffusion process
B) product life cycle
C) consumption process
D) viral process
E) two-stage process
Q2) Which of the following statements about the product life cycle (PLC)is true?
A) The PLC concept encourages marketing managers to think reactively.
B) Marketers do not yet understand the relationship between the adopter categories and the stages of the PLC.
C) There are as many new buyers in the maturity stage of the PLC as in the growth stage.
D) The PLC is especially useful as a predicting tool.
E) Just as there are five adopter categories, there are five PLC stages.
Q3) The two techniques that are considered most useful for generating new-product ideas are customer-generation and competitive imitation.
A)True
B)False
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Chapter 12: Services and Nonprofit Organization Marketing
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Sample Questions
Q1) Determining costs can be extremely difficult for a service provider that has adopted a(n)_____ pricing objective and may limit the usefulness of the objective.
A) market-share-oriented
B) operations-oriented
C) revenue-oriented
D) patronage-oriented
E) break-even
Q2) Refer to Boutique Hotels.When a guest asks an employee for directions to a local gallery or museum,the service received cannot be stored or warehoused.This service,therefore,is characterized as:
A) inseparable
B) perishable
C) intangible
D) unstable E) homogeneous
Q3) Discuss three issues relating to target markets that are unique to nonprofit organizations. Provide an example of each issue.
Q4) Name and briefly define the three categories of pricing objectives for services.
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Chapter 13: Marketing Channels
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Sample Questions
Q1) The difference between the location of a producer and the location of widely scattered markets represents a(n)_____ discrepancy.
A) spatial
B) temporal
C) assortment
D) quantity
E) ownership
Q2) _____ distribution channel relationships are situations where one company or several companies acting as one perform all channel functions.
A) Arm's Length
B) Functional
C) Cooperative
D) Hierarchical
E) Integrated
Q3) Many regard vertical conflict as healthy competition.
A)True
B)False
Q4) Compare and contrast the channels for consumer products with the channels for business and industrial products.
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Chapter 14: Supply Chain Management
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Sample Questions
Q1) Discuss the financial implications of the returns management process.
Q2) Air transportation is faster,cheaper,and more dependable than rail transportation.
A)True
B)False
Q3) All of the following accurately describe supply chain management EXCEPT:
A) physical flow process
B) customer-driven
C) provides enhanced customer and economic value
D) plays the role of communicator of customer demand
E) relies on a "push" strategy
Q4) In which type of supply chain management strategy is postponement a common occurrence?
A) static supply chain management
B) reactive supply chain management
C) flexible supply chain management
D) proactive supply chain management
E) Leagile supply chain management
Q5) Describe the manufacturing flow management process and discuss the goals of this process.
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Chapter 15: Retailing
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Sample Questions
Q1) The only place the Hampton Bay ceiling fans can be purchased is at The Home Depot.The Home Depot has instructed Hampton Bay on how the ceiling fans should be built.This indicates that Hampton Bay is a:
A) private brand
B) generic brand
C) family brand
D) promotional brand
E) specialty brand
Q2) The newest generation of shopping centers is:
A) regional malls
B) shopping business districts
C) lifestyle centers
D) franchised centers
E) strip malls
Q3) The first task of developing a retail strategy is to:
A) create a buying organization
B) decide what to buy
C) define the target market
D) create a promotional strategy
E) define the pricing policies
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Chapter 16: Promotional Planning for Competitive Advantage
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Sample Questions
Q1) AIDA stands for:
A) Attitude-Interest-Demand-Activity
B) Attention-Interest-Desire-Action
C) Awareness-Intent-Demand-Action
D) Avoidance-Interest-Desire-Acceptance
E) Attitudes-In-Developing-Acquisitions
Q2) When a product is in the growth stage of its product life cycle:
A) all elements of the promotional mix are equally important
B) heavy advertising is used to build brand loyalty
C) persuasive and reminder advertising is decreased
D) personal selling is ineffective
E) personal selling and sales promotions are the major elements of the promotional mix used
Q3) Advertising,personal selling,sales promotion,and public relations make up the:
A) communication model
B) advertising campaign
C) marketing mix
D) publicity four
E) promotional mix
Q4) Draw a diagram that illustrates the communication process.
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Chapter 17: Advertising and Public Relations
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Sample Questions
Q1) The primary advantage of newspaper advertising is demographic selectivity.
A)True
B)False
Q2) The advertising response function is a phenomenon in which increased spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing results.
A)True
B)False
Q3) Publicity:
A) will never damage a company because it performs the information task of promotion
B) is free communication
C) is not persuasive with customers
D) has to be purchased from the mass media
E) has many internal costs to the company associated with it
Q4) What is institutional advertising? How does advocacy advertising differ from institutional advertising?
Q5) Spending on advertising varies by industry.
A)True
B)False
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Chapter 18: Sales Promotion and Personal Selling
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Sample Questions
Q1) Business-to-business marketers use many of the same sales promotion tools used in consumer promotions.There are several tools,however,that are unique to these marketers.Name and briefly describe five of these unique sales promotion tools.
Q2) Sometimes the compensation plan alone is not enough to motivate a sales team to produce the volume of sales or the profit margin required by management.Which of the following can be used to further motivate a sales team?
A) vacations
B) recognition at annual sales meeting
C) pay raises
D) cash bonuses
E) all of these
Q3) _____ is a process of finding out about potential clients from friends,business contacts,coworkers,acquaintances,and fellow members in professional or civic organizations.
A) People surfing
B) Networking
C) Co-opting
D) Lead intermediation
E) Looking for the golden parachute
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Page 21
Chapter 19: Pricing Concepts
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Sample Questions
Q1) The most popular method used by wholesalers and retailers in establishing a sales price is _____ pricing.
A) markup
B) status quo
C) formula
D) marginal revenue
E) break-even.
Q2) When Delta Airlines raises or lowers its prices on its Atlanta to Chicago route other airlines tend to make the same changes in their pricing.This is an example of _____ pricing.
A) status quo
B) target return
C) market share
D) predatory
E) cost-plus
Q3) Yield management systems (YMS)were first used by Internet service providers.
A)True
B)False
Q4) Explain yield management systems (YMS)and discuss the types of industry were they are most appropriate.
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Chapter 20: Setting the Right Price
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Sample Questions
Q1) Refer to E-Books. If the $27.00 price of a new release came about because two or more publishers agreed on the same price they charge book resellers for the books,they would be participating in which type of illegal pricing activity?
A) price fixing
B) unfair trade practices
C) resale price maintenance
D) price discrimination
E) predatory pricing
Q2) Marketing managers can use a wide variety of special pricing tactics beyond discounts and allowances to fine-tune prices.Name and define five of the other pricing tactics that are legal.For each tactic,give an example of a specific company,industry,or product that would use the tactic.
Q3) Which of the following factors can a manager IGNORE when deciding on prices for an entire product line?
A) Products in the line could be substitutes for one another.
B) Buyer considers the brand or the price first.
C) Products share joint costs.
D) Products will affect demand for the other products in the line.
E) Products in the line are complementary to one another.
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Page 23
Chapter 21: Customer Relationship Management (CRM)
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Sample Questions
Q1) Les Ailes de la Mode,a Quebec retailer,offers its customers Les Ailes MasterCard.The card is connected to a points program that offers one point for every $20 of purchases on the card and triple that on purchases made at Les Ailes.It also incorporates an electronic chip,through which a $10 coupon is awarded to each member every month via the electronic gift card (on purchases of $10 or more every month).Card members also receive free subscriptions to the retailer's Les Ailes magazine.This shows how CRM can be used:
A) to retain loyalty
B) in mass marketing
C) to increase knowledge about the competition
D) to create transactional relationships
E) to develop a compiled list
Q2) Refer to Blood Services.What technique did the organization use to analyze its donor information?
A) data identifying
B) recency-frequency-monetary analysis
C) niche marketing
D) predictive modeling
E) customer segmentation
Q3) What is a touch point? Give two examples of touch points.
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