Question 1

A strategy which exists at the SBU level and deals primarily with the question of competitive position is a

Accepted Answer

A)  marketing strategy. 
B)  consumer strategy. 
C)  brand strategy. 
D)  competitive strategy. 
A)  marketing strategy. 
B)  consumer strategy. 
C)  brand strategy. 
D)  competitive strategy. D

Question 2

A strategy which is limited to the actions of specific functions within specific business is a

Accepted Answer

A)  marketing strategy. 
B)  consumer strategy. 
C)  brand strategy. 
D)  competitive strategy. 
A)  marketing strategy. 
B)  consumer strategy. 
C)  brand strategy. 
D)  competitive strategy. A

Question 3

What is strategic planning?

Accepted Answer

A)  It is a process by which the long-term objectives of the firm get defined and the means by which these objectives are to be achieved. 
B)  It is a process by which the long-term objectives of the firm get defined. 
C)  It is a process by which the short-medium term objectives of the firm get defined and the means by which these objectives are to be achieved. 
D)  It is a process by which the short-medium term objectives of the firm get defined. 
A)  It is a process by which the long-term objectives of the firm get defined and the means by which these objectives are to be achieved. 
B)  It is a process by which the long-term objectives of the firm get defined. 
C)  It is a process by which the short-medium term objectives of the firm get defined and the means by which these objectives are to be achieved. 
D)  It is a process by which the short-medium term objectives of the firm get defined. A

Question 4

The four main ways of approaching marketing strategy are:

Accepted Answer

A)  Think, See, Do, Plan 
B)  Think, See, Leverage, Plan 
C)  Simple rules, See, Do, Repeat 
D)  Think, See, Do, Simple rules 
A)  Think, See, Do, Plan 
B)  Think, See, Leverage, Plan 
C)  Simple rules, See, Do, Repeat 
D)  Think, See, Do, Simple rules

Question 5

What function does a strategy serve?

Accepted Answer

A)  To set the future direction for the organization 
B)  To state how it is to create value to customers 
C)  To set the future direction for the organization and state how it is to create value to customers and other stakeholders 
D)  None of the options given are correct. 
A)  To set the future direction for the organization 
B)  To state how it is to create value to customers 
C)  To set the future direction for the organization and state how it is to create value to customers and other stakeholders 
D)  None of the options given are correct.

Question 6

Competitive advantage involves

Accepted Answer

A)  analysing and forming consumer segments. 
B)  positioning a concept. 
C)  defining a competitive position. 
D)  finding opportunity gaps and providing better value than the competition. 
A)  analysing and forming consumer segments. 
B)  positioning a concept. 
C)  defining a competitive position. 
D)  finding opportunity gaps and providing better value than the competition.

Question 7

The 'doing first' and 'simple rules' approaches to marketing strategy work best when

Accepted Answer

A)  the situation is novel and confusing. 
B)  complicated specifications would get in the way. 
C)  managers are risk averse. 
D)  the situation is novel and confusing and complicated specifications would get in the way. 
A)  the situation is novel and confusing. 
B)  complicated specifications would get in the way. 
C)  managers are risk averse. 
D)  the situation is novel and confusing and complicated specifications would get in the way.

Question 8

A competitive strategy based on being market oriented refers to

Accepted Answer

A)  strategy based upon the needs and wants of the marketplace. 
B)  a strategy based on the competitors. 
C)  a strategy based purely on the vision of the marketer. 
D)  None of the options given are correct. 
A)  strategy based upon the needs and wants of the marketplace. 
B)  a strategy based on the competitors. 
C)  a strategy based purely on the vision of the marketer. 
D)  None of the options given are correct.

Question 9

The four basic elements of the strategic management process are

Accepted Answer

A)  environmental scanning, strategy formulation, strategy analysis, evaluation and control. 
B)  environmental scanning, strategy formulation, strategy analysis, contingency planning. 
C)  competition scanning, strategy formulation, strategy implementation, evaluation and control. 
D)  environmental scanning, strategy formulation, strategy implementation, evaluation and control. 
A)  environmental scanning, strategy formulation, strategy analysis, evaluation and control. 
B)  environmental scanning, strategy formulation, strategy analysis, contingency planning. 
C)  competition scanning, strategy formulation, strategy implementation, evaluation and control. 
D)  environmental scanning, strategy formulation, strategy implementation, evaluation and control.

Question 10

What is the difference between an SBU strategy and functional strategy?

Accepted Answer

A)  SBU strategy is the overall goals of the business; often expressed in financial terms whereas functional strategy is how to compete in individual product-markets. 
B)  Both are the same. 
C)  SBU strategy is how to compete in individual product-markets whereas functional strategy is for the organization's functional area. 
D)  Functional strategy is how to compete in individual product-markets whereas SBU strategy is for the organization's functional area. 
A)  SBU strategy is the overall goals of the business; often expressed in financial terms whereas functional strategy is how to compete in individual product-markets. 
B)  Both are the same. 
C)  SBU strategy is how to compete in individual product-markets whereas functional strategy is for the organization's functional area. 
D)  Functional strategy is how to compete in individual product-markets whereas SBU strategy is for the organization's functional area.

Question 11

The Postmodern orientation to marketing strategy

Accepted Answer

A)  must be continually borne in mind to provide a check on how, in reality, buyers will interpret the final offering. 
B)  is difficult to follow and only idols like Madonna can follow it. 
C)  can be done by companies from emerging markets. 
D)  None of the options given are correct. 
A)  must be continually borne in mind to provide a check on how, in reality, buyers will interpret the final offering. 
B)  is difficult to follow and only idols like Madonna can follow it. 
C)  can be done by companies from emerging markets. 
D)  None of the options given are correct.

Question 12

Timing rules are about

Accepted Answer

A)  keeping managers organized enough to seize opportunities. 
B)  rules to help Managers pick the best opportunity based on geography, customers, or technology. 
C)  rules about allocating resources amongst competing opportunities. 
D)  rhythm of key strategic processes. 
A)  keeping managers organized enough to seize opportunities. 
B)  rules to help Managers pick the best opportunity based on geography, customers, or technology. 
C)  rules about allocating resources amongst competing opportunities. 
D)  rhythm of key strategic processes.

Question 13

While developing competitive advantage the firm must do what of the following:

Accepted Answer

A)  Ignore the firm's capabilities and only look at consumers' needs. 
B)  Leverage potential sources of competitive advantage that exist in a firm's value chain. 
C)  Outsource the value chain. 
D)  Focus on joint ventures. 
A)  Ignore the firm's capabilities and only look at consumers' needs. 
B)  Leverage potential sources of competitive advantage that exist in a firm's value chain. 
C)  Outsource the value chain. 
D)  Focus on joint ventures.

Question 14

Thinking First/Market Orientation approach to marketing strategy works best when

Accepted Answer

A)  the issues are clear, and discipline can be applied. 
B)  the issues are clear, the data are reliable, the context is structured, thoughts can be pinned down, and discipline can be applied. 
C)  the issues are clear and the data are reliable. 
D)  the context is structured, thoughts can be pinned down, and discipline can be applied. 
A)  the issues are clear, and discipline can be applied. 
B)  the issues are clear, the data are reliable, the context is structured, thoughts can be pinned down, and discipline can be applied. 
C)  the issues are clear and the data are reliable. 
D)  the context is structured, thoughts can be pinned down, and discipline can be applied.

Question 15

The consumers in the postmodern era learn about persuasion (how marketers try to influence them) from

Accepted Answer

A)  social encounters. 
B)  observing marketers. 
C)  media commentary. 
D)  All of the options given are correct. 
A)  social encounters. 
B)  observing marketers. 
C)  media commentary. 
D)  All of the options given are correct.

Question 16

The underpinning approach of the postmodern marketing strategy is the presumption that

Accepted Answer

A)  buyers trust 'regular' marketing. 
B)  buyers are sophisticated and cynical about 'regular' marketing. 
C)  buyers prefer postmodern products. 
D)  buyers prefer subliminal marketing. 
A)  buyers trust 'regular' marketing. 
B)  buyers are sophisticated and cynical about 'regular' marketing. 
C)  buyers prefer postmodern products. 
D)  buyers prefer subliminal marketing.

Question 17

'Doing first' refers to

Accepted Answer

A)  thinking and planning before doing. 
B)  keep doing new things, don't waste time on evaluation. 
C)  keep doing new things and make failures also work for you. 
D)  do something, make sense of it, and then repeat the successful parts and discard the rest. 
A)  thinking and planning before doing. 
B)  keep doing new things, don't waste time on evaluation. 
C)  keep doing new things and make failures also work for you. 
D)  do something, make sense of it, and then repeat the successful parts and discard the rest.

Question 18

What does secrecy mean in retro marketing?

Accepted Answer

A)  To ensure that the hot ticket is talked about 
B)  Make marketing fun 
C)  It is all about secret recipes. 
D)  Play practical jokes 
A)  To ensure that the hot ticket is talked about 
B)  Make marketing fun 
C)  It is all about secret recipes. 
D)  Play practical jokes

Question 19

Retro marketing harks back to

Accepted Answer

A)  the 'good old days' when marketers cared about consumers. 
B)  the difficult days of the Second World War. 
C)  the 'good old days' when marketers were pranksters and proud of it. 
D)  the days when family values meant a lot to the consumer. 
A)  the 'good old days' when marketers cared about consumers. 
B)  the difficult days of the Second World War. 
C)  the 'good old days' when marketers were pranksters and proud of it. 
D)  the days when family values meant a lot to the consumer.

Question 20

It is advised that even though 'doing first' is the way to test the boundaries of stretching a brand, Managers must also do which of the following to measure success?

Accepted Answer

A)  Thinking first 
B)  Keep it simple. 
C)  Seeing first 
D)  Simple rules 
A)  Thinking first 
B)  Keep it simple. 
C)  Seeing first 
D)  Simple rules

A strategy which exists at the SBU level and deals primarily with the question of competitive position is a

A strategy which is limited to the actions of specific functions within specific business is a

What is strategic planning?

The four main ways of approaching marketing strategy are:

What function does a strategy serve?

Competitive advantage involves

The 'doing first' and 'simple rules' approaches to marketing strategy work best when

A competitive strategy based on being market oriented refers to

The four basic elements of the strategic management process are

What is the difference between an SBU strategy and functional strategy?

The Postmodern orientation to marketing strategy

Timing rules are about

While developing competitive advantage the firm must do what of the following:

Thinking First/Market Orientation approach to marketing strategy works best when

The consumers in the postmodern era learn about persuasion (how marketers try to influence them) from

The underpinning approach of the postmodern marketing strategy is the presumption that

'Doing first' refers to

What does secrecy mean in retro marketing?

Retro marketing harks back to

It is advised that even though 'doing first' is the way to test the boundaries of stretching a brand, Managers must also do which of the following to measure success?

Environmental and Internal Analysis: Market Information and Intelligence

Strategic Marketing Decisions, Choices, and Mistakes

Segmentation, Targeting, and Positioning Strategies

Branding Strategies

Relational and Sustainability Strategies

Product Innovation and Development Strategies

Service Marketing Strategies

Pricing and Distribution Strategies

Marketing Communications

Social and Ethical Strategies

Strategy Implementation and Control

Strategy and Metrics

Filters

Exam 1: Strategic Marketing: Analysis, Perspectives, and Blueprint

A strategy which exists at the SBU level and deals primarily with the question of competitive position is a

A strategy which is limited to the actions of specific functions within specific business is a

What is strategic planning?

The four main ways of approaching marketing strategy are:

What function does a strategy serve?

Competitive advantage involves

The 'doing first' and 'simple rules' approaches to marketing strategy work best when

A competitive strategy based on being market oriented refers to

The four basic elements of the strategic management process are

What is the difference between an SBU strategy and functional strategy?

The Postmodern orientation to marketing strategy

Timing rules are about

While developing competitive advantage the firm must do what of the following:

Thinking First/Market Orientation approach to marketing strategy works best when

The consumers in the postmodern era learn about persuasion (how marketers try to influence them) from

The underpinning approach of the postmodern marketing strategy is the presumption that

'Doing first' refers to

What does secrecy mean in retro marketing?

Retro marketing harks back to

It is advised that even though 'doing first' is the way to test the boundaries of stretching a brand, Managers must also do which of the following to measure success?

Environmental and Internal Analysis: Market Information and Intelligence

Strategic Marketing Decisions, Choices, and Mistakes

Segmentation, Targeting, and Positioning Strategies

Branding Strategies

Relational and Sustainability Strategies

Product Innovation and Development Strategies

Service Marketing Strategies

Pricing and Distribution Strategies

Marketing Communications

Social and Ethical Strategies

Strategy Implementation and Control

Strategy and Metrics

Filters