Strategic Marketing Exam Solutions
Course Introduction
Strategic Marketing explores the fundamental principles and advanced concepts involved in developing, implementing, and evaluating effective marketing strategies within competitive environments. The course examines techniques for market analysis, customer segmentation, brand positioning, and the creation of value-driven marketing plans aligned with organizational goals. Emphasis is placed on integrating digital trends, consumer behavior insights, and data-driven decision making to adapt to rapidly changing markets. Through case studies and real-world applications, students will learn how to formulate and assess strategic marketing initiatives that drive long-term business success.
Recommended Textbook
Marketing Management 3rd Edition by Greg Marshall
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14 Chapters
1339 Verified Questions 1339 Flashcards
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Page 2
Chapter 1: Marketing in Today's Business Milieu
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92 Verified Questions
92 Flashcards
Source URL: https://quizplus.com/quiz/2497
Sample Questions
Q1) In the context of change drivers impacting the future of marketing, marketing (little m) ________.
A) is often thought of as strategic marketing
B) almost always takes place at the top level of a firm
C) serves as a core driver of business strategy
D) need not be couched within the philosophy of a firm's Marketing (Big M)
E) serves the firm and its stakeholders at a functional level
Answer: E
Q2) From a customer's perspective, what is defined as a ratio of the bundle of benefits a customer receives from an offering, compared to the costs incurred by the customer in acquiring that bundle of benefits?
A) Exchange
B) Strategy
C) Sustainability
D) Value
E) Power
Answer: D
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Chapter 2: Marketing Foundations: Global, Ethical, Sustainable
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) Prices of products are often higher in a foreign country than the home country due to transportation charges, taxes, tariffs, and exchange rate fluctuations. This change in price from home country to foreign country is referred to as ________.
A) price escalation
B) price scaling
C) cost-plus pricing
D) cost-based pricing
E) market price
Answer: A
Q2) The first step in moving into global markets is to evaluate the market opportunities.
A)True
B)False
Answer: TRUE
Q3) Global marketing research focuses on just three types of basic information: economic, cultural, and political/legal.
A)True
B)False
Answer: FALSE
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Chapter 3: Elements of Marketing Strategy, Planning, and Competition
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Gabriel, vice president of marketing for Big Screen Televisions, wants the company to offer a DVD player, a product the company doesn't offer now. He thinks that the firm has many brand-loyal customers who would buy it. According to Igor Ansoff's Product-Market Matrix, this is an example of the ________ strategy.
A) market diversification
B) product differentiation
C) market penetration
D) product development
E) market development
Answer: D
Q2) The GE Business Screen portfolio model evaluates businesses on the dimensions of market attractiveness and business position.
A)True
B)False
Answer: TRUE
Q3) Internal environmental factors are all under the firm's control. A)True
B)False
Answer: TRUE
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Chapter 4: Market Research Essentials
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93 Verified Questions
93 Flashcards
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Sample Questions
Q1) The marketing manager of Zenith Corp. is interested in ranking clients on the basis of their profitability, and accesses a database that tells him about the frequency and size of each client's order along with the actual costs per order. This database is part of the ________ system.
A) sales information
B) customer relationship management (CRM)
C) financial information
D) employee management
E) promotion management
Q2) Name and describe the six external forces that affect marketing decisions.
Q3) A shoe manufacturing company is interested in selling its products in a new country. Before entering the marketplace, the company wishes to gather information about how the country's citizens set priorities and make buying decisions. For this purpose, the company is most likely to analyze the country's ________.
A) political environment
B) economic conditions
C) technological transformations
D) natural world
E) geographic changes
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Page 6
Chapter 5: CRM, Big Data, and Marketing Analytics
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) When you complete a form online with your name, address, and credit card information in order to make a purchase, you are giving the company ________ data that can populate a relational database or spreadsheet.
A) unsecured
B) abstract
C) structured
D) unstructured
E) soft
Q2) Jeremiah wants to find out if the new advertising campaign is positively impacting sales. He is likely to use diagnostic analytics.
A)True
B)False
Q3) Customer satisfaction is defined as ________.
A) the degree to which an individual will resist switching from one offering to another
B) the level at which the offering meets or exceeds a customer's expectations
C) retaining satisfied and loyal profitable customers and channels
D) increasing the likelihood that a customer becomes a buzz marketer
E) the number of purchases in a defined period of time
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Chapter 6: Understand Consumer and Business Markets
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) In addition to culture, three factors are particularly relevant in consumer behavior. They are ________.
A) language, values, and attitudes
B) language, attitudes, and nonverbal communications
C) values, attitudes, and language
D) values, beliefs, and language
E) language, values, and nonverbal communications
Q2) The sales proposal gives the company an opportunity to showcase its unique products, service, and pricing.
A)True
B)False
Q3) The most fundamental criterion in vendor selection is ________.
A) degree of affiliation
B) risk tolerance
C) reliability
D) location
E) intangibility
Q4) Discuss the four e-procurement methods and give an example of when each might be used.
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Chapter 7: Segmentation, Target Marketing, and Positioning
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) ________ segmentation focuses on why people buy what they buy.
A) Benefits sought
B) Usage rate
C) Demographic
D) Social class
E) Occasion
Q2) One of the basic principles behind segmentation is that subgroups of customers can be identified on some basis of similarity.
A)True
B)False
Q3) Social class has declined as a method of segmentation as a result of ________.
A) higher education rates in the United States
B) readily available credit flattening the classes
C) the increase in minority consumers
D) stores appealing to everyone
E) wealthy individuals spending lavishly on luxury products
Q4) Business market segmentation is less straightforward than segmentation of consumer markets.
A)True B)False
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Chapter 8: Product Strategy and New Product Development
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) When consumer product market tests are created, what four key decisions must be made, and why?
Q2) Different target markets will view the same product in completely different ways. A)True
B)False
Q3) Customers view new products much differently than companies view them.
Customers care only if a product is ________.
A) new to their retail store
B) new to them
C) offered through a new outlet
D) offered online instead of at a brick-and-mortar store
E) repositioned to target new markets
Q4) An individual moves through stages before adopting a product. During the interest stage, consumers ________.
A) evaluate the product for trial purchase
B) purchase the product for the purpose of making a value decision
C) seek out added information about a product for further evaluation
D) feel, see, and touch the product
E) purchase the product with the intent of becoming a dependable user
Page 10
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Chapter 9: Build the Brand
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Sample Questions
Q1) The owners of NK Medical Equipment have been developing the brand equity of their MRI and CAT scan equipment. Now, on the mention of NK's machines, radiologists and hospital purchasing agents usually say that they have heard of NK's offerings and are interested in learning more about them. This response signals a familiarity and potential commitment to the brand. In this case, which dimension of brand equity has been achieved by NKMedical Equipment?
A) brand assets
B) brand association
C) brand awareness
D) brand loyalty
E) perceived quality
Q2) A good branding strategy can overcome a product that fails to deliver on the value proposition by infusing it with the brand image.
A)True
B)False
Q3) Products such as Crest, Tide, and Gillette that are sold under the same brand throughout the country are known as store brands.
A)True
B)False
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Page 11
Chapter 10: Service as the Core Offering
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Services are produced and consumed at the same time and cannot be detached from their provider. This characteristic of service is called ________.
A) intangibility
B) perishability
C) variability
D) inseparability
E) reliability
Q2) As a dimension of service quality, reliability means that ________.
A) a service is performed right the first time and every time
B) a service is variable and has different outcomes due to employee variation
C) a customer is repeatedly asked about his or her perception of the service quality
D) service providers think from customers' point of view
E) service providers are more willing and capable of providing prompt service
Q3) It is widely accepted that today we operate in an economy that is increasingly focused on tangible offerings-goods-instead of just services.
A)True
B)False
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Page 12
Chapter 11: Manage Pricing Decisions
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) In proposing a ________ strategy, the marketing manager usually is convinced that a strong price-quality relationship exists for the product.
A) penetration pricing
B) price skimming
C) target ROI
D) competitor-based pricing
E) value pricing
Q2) Hector is opening an appliance store. He has estimated a monthly profit goal based on his anticipated expenses and earning goals and uses it to set product prices. Hector is implementing a ________ pricing strategy.
A) penetration
B) price skimming
C) target return on investment (ROI)
D) competitor-based
E) value
Q3) Define the concept of cost leadership. Explain how a company might achieve cost leadership and the primary benefits to be gained.
Q4) Define the four types of channel discounts and provide an example of each.
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Chapter 12: Manage Marketing Channels, Logistics, and Supply Chain
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) When a supplier creates a restrictive agreement that prohibits intermediaries that handle its product from selling competing firms' products, ________ has occurred.
A) just-in-time (JIT) inventory control
B) materials requirement planning (MRP)
C) exclusive dealing
D) exclusive territory
E) tying contract
Q2) Jenn, a production manager at a company, has decided to take a value network approach to create a competitive advantage over the company's competitors. In the context of network organizations, this approach will make the company's operations more ________.
A) rigid
B) costly
C) consistent
D) static
E) nimble
Q3) Describe three of the legal issues in supply chain management.
Q4) Explain the difference between merchant and agent intermediaries.
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Q5) Define disintermediation, and explain why it's common in the electronic channel.
Chapter 13: Promotion Essentials: Digital and Social Media Marketing
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91 Verified Questions
91 Flashcards
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Sample Questions
Q1) Twitter is currently the largest social networking platform in the world.
A)True
B)False
Q2) Banu downloaded a program from his insurance agency that allowed him to check on a claim from his phone. The first time he used it, a pop-up informed him of a new product and provided a button to click for more information. This is called an in-app ad.
A)True
B)False
Q3) ________, one of the seven dimensions used by researchers to define a website interface, is a site's ability to enable transactions.
A) Connections
B) Community
C) Commerce
D) Communication
E) Content
Q4) What is digital marketing and how has it changed the way companies and individuals communicate?
Q5) Describe the seven Cs that define the customer website interface.
Q6) Describe the AIDA model of promotion. Include a description of each step.
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Chapter 14: Promotion Essentials: Legacy Approaches
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Explain the three core functions of public relations that are most closely aligned with the role of the marketing manager.
Q2) A commission is a fixed sum of money paid at regular intervals.
A)True
B)False
Q3) When two or more brands are reviewed against each other on certain attributes, it is considered ________ advertising.
A) pioneering
B) competitive
C) institutional
D) comparative
E) covert
Q4) Customers can quickly and easily become bored with any given advertising campaign, a concept referred to as advertising wearout.
A)True
B)False
Q5) Compare and contrast the two major types of advertising and give an example of each.
Q6) What are the six stages of the personal selling process?
Page 16
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