Strategic Planning for Marketing Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Your company offers the best cars on the market at relatively affordable prices. You currently have no competitors regarding the features your cars have. Why is this an example of product differentiation?

Question 2 2. Which of the following is an example of competitive advantage?

Question 3 3. What type of market segmentation strategy is used by Disney?

Question 4 4. Thomas owns a large IT company. He attempts to gain an upper hand in the market by using very skilled workers and inexpensive raw materials. Overall, he is very focused on controlling the costs in order to maximize the value of his products to consumers. How is this an example of cost-competitive advantage?

Question 5 5. What is the overall sacrifice a consumer is willing to make to acquire a specific product or service?

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Question 6 6. The marketing mix consists of

Question 7 7. Brenda's Beauty Salon offers customers a _____.

Question 8 8. What is marketing myopia?

Question 9 9. Jamerson Marketing is the only company in the world that uses an example of both qualitative and quantitative analysis in order to create efficient marketing strategies. Due to this, they are the leading company in the field of marketing. Their competition work by using either qualitative or quantitive analysis. Why is this an example of a USP?

Question 10 10. Which of the following is a strategy when a company pursues the development of a new product for a current market?

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Question 11 11. What is a marketing strategy that is based on attracting new customers to current products?

Question 12 12. Which of the following would a company do when it decides to 'harvest' a product made by an SBU?

Question 13 13. Assess the strategy that is used to increase sales by creating new products that can be targeted to new markets.

Question 14 14. Evaluate the effect of market penetration.

Question 15 15. What is environmental scanning?

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Question 16 16. Which of these products would be classified as a star on the portfolio matrix ?

Question 17 17. How does a large company place its SBU's on the portfolio matrix ?

Question 18 18. Which of the following is not considered to be part of the product?

Question 19 19. What are the four different strategic alternatives?

Question 20 20. If a business created a mission statement that said, 'We will make products to make the world a better place,' then what type of mission statement development mistake has occurred?

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Question 21 21. What is a niche competitive advantage?

Question 22 22. What question does a business mission statement answer?

Question 23 23. Which of the following is an example of a company using a niche competitive marketing strategy?

Question 24 24. The four types of promotion are

Question 25 25. The price of a product includes _____

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Question 26 26. How does a business mission statement relate to marketing?

Question 27 27. What is included in promotional strategies?

Question 28 28. Which of the following would NOT be an external threat to a marketing manager?

Question 29 29. Which part of the marketing mix is the most flexible and easiest to change?

Question 30 30. If a manufacturer of candy decides to open a theme park, this would be an example of a _____ strategic alternative.

Strategic Planning for Marketing Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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