Title: Marketing Strategy
Course: Question Banks

Q: A means or action by which a plan or objectives are accomplished is the definition of a:
- mission
- strategy
- tactic
A: tactic

Q: The company BarkBuddy decided to pursue a product allowing customers to use its phone app to find a dog for adoption. The app lets a potential owner swipe through profiles of nearby dogs needing a home with a simple Yes or No. Its users tell BarkBuddy what they are looking for in a dog and fill out a form for a pre-screening. BarkBuddy’s details indicate that it has decided on its:
- strategy
- objectives
- tactics
A: tactics

Q: Patagonia’s mission is to, “Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” To match this mission, they design and sell useful things made to last and ask their customers not to buy what they don’t need or can’t really use. This statement is an example of a mission statement affecting the company’s:
- situational analysis
- hiring policy
- corporate strategy
A: corporate strategy

Q: Skullcrushers makes bodybuilding weights and weight bars. For 2016 they plan to offer a new product line of weight benches to the marketplace. It planned on increasing its market share in the bodybuilding equipment market 5% by rolling out marketing campaigns to extreme athletes and obtain 1000 new leads for its new product line by July 2016. This is an example of a company’s:
- mission statement
- tactics
- objectives
A: objectives

Q: If a corporation sets a company objective of increasing its net profit this year by 5%, what marketing objectives and strategy are being used to achieve the corporate objective?
- decreases the corporation's product prices over all of their products
- run the marketing and advertising campaigns from last year
- add new product features customers asked for and increasing product price point
A: add new product features customers asked for and increasing product price point

Q: The marketing strategy created for a cell phone accessories company was put together after conducting a SWOT analysis which looked at the company’s internal strengths and weaknesses and external opportunities and threats that it faced. This process is known as identifying:
- outputs
- throughputs
- inputs
A: inputs

Q: In order for a company’s marketing mix to most effectively be utilized for reaching the company’s objectives and strategies, it must focus on what marketing strategy input?
- general market
- internal resources
- target customer
A: target customer

Q: A lighthouse lantern company objective is to increase its market through entering the international lighthouse market. The marketing department set its strategy of increasing company market share by partnering with a large shopping center developer. In order to align with the corporate objectives and strategy the marketing department needs to:
- focuses on a new market, the international shopping center development market
- continue with its strategy and find a large shopping center developer company
- align with the company objective, abandon the shopping mall development market and focus its efforts on the international community of lighthouses
A: align with the company objective, abandon the shopping mall development market and focus its efforts on the international community of lighthouses

Q: When a company sets its business strategy, in order for the marketing strategies and objectives to align with it, marketers should:
- focus on the market changes and fluctuations and create marketing strategies that capture the market movement rather than company’s objectives
- work through the 4Ps of the marketing mix, focusing them on matching company objectives by not communicating customer value
- work through the components of the 4Ps, setting them to deliver value to the customer in alignment with the company objectives
A: work through the components of the 4Ps, setting them to deliver value to the customer in alignment with the company objectives

Q: A tax software company aligned its overall corporate objectives with its marketing mix strategy and tactics. When the time came to use its strategy and tactics, the team failed to enforce the new plans and returned to older plans of the 4Ps mix. They spent ⅔ of the allocated total marketing funds to run online advertisements in head-to-head competition with a well established tax software competitor instead of sticking with its original advertising campaign strategy. What areas did this company fail to do well?
- monitoring their budget with marketing objectives and creating exceptional customer value
- execution of the tactics matching the marketing-mix strategy and product design
- marketing-mix objectives and tactics implementation and aligning their budget
A: marketing-mix objectives and tactics implementation and aligning their budget

Q: Your company’s marketing manager implements the company’s new marketing strategy and tactics on the market. What types of information does your marketing manager need to monitor to judge the plan’s implementation success and strategic effectiveness?
- administrative costs, billing procedures, customer complaints, worker turnover rates
- human resource numbers, company budget, competitor campaigns
- profits, customer relations, sales information, and competitor reactions
A: profits, customer relations, sales information, and competitor reactions

Q: When a company is trying to evaluate the effectiveness of its marketing campaign, or marketing ROI, it needs to monitor what types of information?
- decreases in lifetime value of customers, national gross domestic product numbers
- number of times an ad ran on TV, product inventory numbers, employee satisfaction
- sales numbers, expenditures from the marketing budget, number of new customers acquired
A: sales numbers, expenditures from the marketing budget, number of new customers acquired

Q: Kimball’s Vintage Hats is an online-only business selling unique and affordable replicas of vintage designer hats. The business is new, but Kimball worked in Europe for years as a milliner. He sells his wares through an Etsy storefront and has the objective of becoming successful enough to work full time at his passion, this company. What tool or model would most assist Kimball’s Vintage Hats to effectively set its marketing objectives and strategies?
- financial analysis
- product design analysis
- SWOT analysis
A: SWOT analysis

Q: Beatrice's Vintage Dresses is an online-only business selling unique and affordable replicas of vintage designer dresses. Beatrice ran a SWOT analysis and discovered that she has opportunities to partner with other Etsy vintage fashion designer shops for cross-promotions. Her SWOT analysis has a direct effect on her:
- product design
- company hiring practice
- marketing strategy
A: marketing strategy

Q: What two components of a business’s product or business unit does the BCG Matrix address?
- current product development life-cycle and effective product feature sets
- new vs. existing markets
- current market share and the market’s growth potential
A: current market share and the market’s growth potential

Q: If a company ran a BCG Matrix analysis on one of its products and discovered it was a question mark, what would that mean?
- its product is in a fast-growing industry and is poised to bring in strong returns
- its product currently has low market share and the industry or market is stagnant or declining
- its product currently has low market share but is in an industry that is growing
A: its product currently has low market share but is in an industry that is growing

Q: According the the strategic opportunity matrix, a diversification strategy is going to potentially involve which of the following?
- emphasize existing products and known markets
- emphasizing existing products in new markets
- developing a superior new product and capturing a new market
A: developing a superior new product and capturing a new market

Q: Bud’s Bucket ice cream company produces a chemically enriched ice cream and decides to penetrate the gourmet market by offering its same ice cream at premium prices. What might happen as a result of its market penetration strategy?
- may hit the market well and be flying off the shelves
- may capture a large portion of the gourmet market through its superior product
- it may turn off its current customer base and cause them to purchase a competitor's ice cream
A: it may turn off its current customer base and cause them to purchase a competitor's ice cream

Q: When Arm & Hammer Baking Soda company ran ad campaigns highlighting all of the additional uses for its baking soda product besides deodorizing the refrigerator, what market strategy was it using?
- market penetration strategy
- product development strategy
- market development strategy
A: market development strategy

Q: When the Dove soap company decided it wanted to increase the size of its market, it chose to develop and offer a shampoo product under its Dove brand. Which strategy did Dove use?
- market penetration strategy
- market development strategy
- product development strategy
A: product development strategy

Q: When a company that made school notebooks enters the pencil and pen market with its new products it is using a:
- market penetration strategy
- product development strategy
- diversification strategy
A: diversification strategy

Q: An online gaming company had thousands of people playing its car chase game, but no idea who its ideal customer was. What should this company do?
- use anecdotal information to create an idea of its customer
- roll out a new product
- build a buyer persona with collected data
A: build a buyer persona with collected data

Q: What is an approach a company can use to evaluate the quality of their customer relationships?
- launch a new product without getting customer feedback
- collect information about their company’s hiring practices
- collect customer information and build a buyer persona
A: collect customer information and build a buyer persona

Q: A marketing discipline that combines computer technology and databases with marketing communication and customer service is the definition of:
- a buyer persona
- customer buy-in
- customer relationship management
A: customer relationship management

Q: The discipline in marketing that combines databases and computer technology with marketing communications and customer service is the definition of:
- a buyer persona
- customer buy-in
- customer relationship management
A: customer relationship management