MARKETING STRATEGY MCQS

The Value Delivery Process

1. Marketing must develop strategies for a range of services and products

________ the organization.

a) Within
b) Outside
c) Both a & b
d) None of the above
ANSWER: a) Within

2. As per the Value Delivery Process

a) Marketing comes after planning

b) There is no need for marketing
c) Marketing comes at the beginning of planning
d) None of the above.

ANSWER: c) Marketing comes at the beginning of planning

3. The value creation and delivery sequence process place emphasis on:

a) Choosing the value

b) Providing the value
c) Communicating the value
d) All of the above

ANSWER: d) All of the above

4. The formula_______ is the essence of strategic marketing.

a) STP- Segmentation, Targeting, Positioning

b) CRM- Customer Relationship Management
c) TPD- Targeting, Positioning, Distribution
d) None of the above

ANSWER: a) STP- Segmentation, Targeting, Positioning

5. Market Research and company self analysis is a part of

a) Value-developing process
b) Value-delivering process
c) Value-defining process
d) None of the above

ANSWER: c) Value-defining process

6. Michael Porter of Harvard has proposed the _______ as a tool for identifying
ways to create more customer value.

a) Product chain
b) Value chain
c) Supply chain
d) None of the above

ANSWER: b) Value chain

7. The primary activities in a value chain includes

a) Inbound logistics and outbound logistics

b) Procurement and technology development
c) Human Resource Management
d) Firm Infrastructure.
ANSWER: a) Inbound logistics and outbound logistics

8. Value Delivery Network can be better defined as:

a) Value chain
b) Distribution chain
c) Supply chain
d) None of the above

ANSWER: c) Supply chain

9. The core competency of the famous company Nike is:

a) Manufacturing and shoe designing

b) Manufacturing and merchandising
c) Shoe designing and merchandising
d) None of the above

ANSWER: c) Shoe designing and merchandising

Core Competencies

10. Market sensing, Customer linking and channel bonding are:

a) Core Competencies
b) Distinctive capabilities
c) a & B
d) None of the above

ANSWER: b) Distinctive capabilities

11. Holistic Marketers achieve profitable growth by

a) Expanding customer share

b) Building customer loyalty
c) Capturing customer lifetime value
d) All of the above

ANSWER: d) All of the above

12. A company identifies new value opportunities through

a) Value exploration
b) Value creation
c) Value delivery
d) None of the above

ANSWER: a) Value exploration

13. Analyzing three spaces that are the customer’s cognitive space, the
company’s competency space and the collaborator’s resource space is
integral part of

a) Value exploration
b) Value creation
c) Value delivery
d) None of the above

ANSWER: a) Value exploration

14. Customer relationship management, internal resource management and

business partnership management are the key functions of

a) Value exploration
b) Value delivery
c) Value creation
d) None of the above

ANSWER: b) Value delivery

15. ________ lays out the target markets and the value proposition the firm will
offer, based on an analysis of the best market opportunities.

a) Tactical marketing plan

b) Strategic marketing plan
c) Both a & b
d) None of the above

ANSWER: b) Strategic marketing plan

16. Tactical marketing plan focuses on

a) Promotion
b) Merchandising
c) Sales Channel
d) All of the above

ANSWER: d) All of the above

17. "Hollow corporations"•, operating in vertical competitive sphere

a) Contracts Out every service

b) Are Pure Marketing Companies
c) Both a & b
d) None of the above
ANSWER: c) Both a & b

18. "Never settle for the best"• is the philosophy of

a) Google
b) Yahoo
c) Microsoft
d) eBay

ANSWER: a) Google

19. "Organize the world's information and make it universally accessible and
useful" is the mission statement of

a) Yahoo
b) Google
c) Bing
d) None of the above

ANSWER: b) Google

20. Harvard's famed marketing professor Ted Levitt argued that

a) Market definitions of a business are superior to product definitions

b) Product definitions of a business are superior to market definitions

c) Vary as per condition

d) None of the above

ANSWER: a) Market definitions of a business are superior to product definitions

Strategic Planning

21. A target market definition tends to focus on selling a product or service to a

a) Current market
b) Potential market
c) Both a & b
d) None of the above

ANSWER: a) Current market

22. A strategic market definition tends to focus on selling a product or service to

a

a) Current market
b) Potential market
c) Both a & b
d) None of the above

ANSWER: b) Potential market

23. General Electric has classified its businesses into ___ strategic business
units.

a) 42
b) 45
c) 49
d) None of the above

ANSWER: c) 49

224. SBU (strategic business unit) is a _________ unit that is usually responsible
for its own budgeting, new product decisions, hiring decisions, and price setting.
a) Semi-autonomous
b) Autonomous
c) Non-autonomous
d) None of the above

ANSWER: a) Semi-autonomous

25. The purpose of identifying company's strategic business unit is:

a) Developing separate strategies

b) Assign appropriate funding
c) Both a & b
d) All of above are false

ANSWER: c) Both a & b

26. The BCG's Growth Share matrix uses _________ and _________ of market
growth as criteria to make investment decisions.

a) Relative market share and quarterly rate

b) Relative market share and annual rate
c) Absolute market share and annual rate
d) Absolute market share and quarterly rate

ANSWER: b) Relative market share and annual rate

27. Opportunities to achieve further growth within current businesses are:

a) Intensive Opportunities
b) Integrative Opportunities
c) Diversification Opportunities
d) None of the above
ANSWER: a) Intensive Opportunities

28. Opportunities to build or acquire businesses that are related to current

businesses:

a) Intensive Opportunities
b) Integrative Opportunities
c) Diversification Opportunities
d) None of the above

ANSWER: b) Integrative Opportunities

29. The useful framework for detecting new __________ is called a "product-
market expansion grid"

a) Intensive opportunities
b) Integrative opportunities
c) Diversification opportunities
d) None of the above

ANSWER: a) Intensive opportunities

Assessing Growth Opportunities

30. For intensive growth, the company first considers whether it could gain more
market share with its current products in their current market, using a _________

a) Market-penetration strategy
b) Market development strategy
c) Product-development strategy
d) Diversification strategy
ANSWER: a) market-penetration strategy

31. Select right order of intensive growth strategies:

a) market-development strategy, market-penetration strategy, product development

strategy

b) Market-penetration strategy, market development strategy, product development

strategy

c) market-penetration strategy, product development strategy, market-development

strategy

d) None of the above

ANSWER: b) Market-penetration strategy, market development strategy, product

development strategy

32. Market development strategy focuses on

a) Current products and new markets

b) Current products and current markets
c) New products and current markets
d) New products and new markets

ANSWER: a) Current products and new markets

33. Product development strategy for achieving intensive growth focuses on:

a) Current products and new markets

b) Current products and current markets
c) New products and current markets
d) New products and new markets
ANSWER: c) New products and current markets

34. Acquiring one or more suppliers for integrative growth is

a) Horizontal integration
b) Forward integration
c) Backward integration
d) None of the above

ANSWER: c) Backward integration

35. Acquisition of competitors for integrative growth is

a) Horizontal integration
b) Forward integration
c) Backward integration
d) None of the above

ANSWER: a) Horizontal integration

36. In _____________ , the company would seek new products that have
marketing or technological synergies with existing product lines appealing to a
new group of customers.

a) Concentric diversification
b) Horizontal diversification
c) Conglomerate diversification
d) None of the above

ANSWER: a) Concentric diversification

37. In________, the company can develop new products that are technologically
unrelated to its current product line and still can appeal to its current customers.

a) Concentric diversification
b) Horizontal diversification
c) Conglomerate diversification
d) None of the above

ANSWER: b) Horizontal diversification

38. In_________, the company may seek new opportunities that have no relation
with its current technology, products, or markets.

a) Concentric diversification
b) Horizontal diversification
c) Conglomerate diversification
d) None of the above

ANSWER: c) Conglomerate diversification

39. Gary Hamel believes that

a) Senior management hammers out the strategy and hands it down.

b) Imaginative ideas on strategy exist in many places within a company
c) The strategy comes from outside the organization
d) None of the above

ANSWER: b) Imaginative ideas on strategy exist in many places within a

company

40. Redefining how company gets paid or create innovative new revenue streams
is _______ of Business innovation.
a) Value capture dimension
b) Brand dimension
c) Networking dimension
d) Offerings dimension

ANSWER: a) Value capture dimension

Business Unit Strategic Planning

41. Peter Drucker pointed out that it is more important to __________ to be

effective than to ________ to be efficient.

a) Do the right thing, do things right

b) Do things right, do the right thing
c) Do the right thing, do things wrong
d) None of the above

ANSWER: a) Do the right thing, do things right

42. Starbucks music CD sales in Coffee stores is an example of ________ for

business innovation.

a) Value capture dimension

b) Brand dimension
c) Networking dimension
d) Presence dimension

ANSWER: d) Presence dimension

443. Google Paid Search is an example of _____________ for business

innovation.
a) Value capture dimension
b) Brand dimension
c) Networking dimension
d) Offerings dimension

ANSWER: a) Value capture dimension

444. For an MBO (Manages by objectives) system to work, the business unit's
objectives must meet ___ criteria.

a) 5
b) 2
c) 3
d) 4

ANSWER: d) 4

45. For an MBO (Manages by objectives) system to work

a) Objectives must be arranged hierarchically, from the most to the least important.

b) Objectives must be arranged hierarchically, from the least to the most important.

c) Any of a and b

d) None of the above

ANSWER: a) Objectives must be arranged hierarchically, from the most to the

least important.

46. The Star Alliance brings together ___ airlines.

a) 18
b) 27
c) 10
d) 30

ANSWER: b) 27

47. Michael Porter has proposed _______ generic strategies that provide a good
starting point for strategic thinking.

a) 3
b) 5
c) 4
d) 6

ANSWER: a) 3

48. According to McKinsey & Company, strategy is only one of _______ elements,
all of which start with the letter “s― in successful business practice.

a) 4
b) 5
c) 7
d) 10

ANSWER: c) 7

49. Peter Drucker pointed out that it is more important to __________ to be

effective than to ________ to be efficient.

a) Do the right thing, do things right

b) Do things right, do the right thing
c) Do the right thing, do things wrong
d) None of the above
ANSWER: a) Do the right thing, do things right

50. Thinking differently about sourcing and fulfillment is _________ of business

innovation.

a) Value capture dimension

b) Brand dimension
c) Networking dimension
d) Supply Chain dimension

ANSWER: d) Supply Chain dimension

51. When a firm develops and maintains a strategic fit between its goals and
capabilities, it is performing ________.
A) mission planning
B) values planning
C) strategic planning
D) business-portfolio planning
E) operations planning
Answer: C

52. Which of the following is the first step in strategic planning?

A) set objectives and goals
B) develop the business portfolio
C) define the company mission
D) plan marketing strategies
E) identify threats and weaknesses
Answer: C

53. Which of the following is NOT a step in the strategic planning process?
A) defining the company mission
B) setting company objectives and goals
C) designing the business portfolio
D) planning marketing and other functional strategies
E) evaluating all members of the value chain
Answer: E

54. Which of the following provides an answer to these questions: What is our
business? Who are
our customers? What do our customers value? What should our business be?
A) objectives and goals
B) a mission statement
C) a business portfolio
D) marketing and functional strategies
E) operational strategies
Answer: B

55. ________ should be market oriented and defined in terms of ________.

A) Annual plans; product needs
B) Strategic plans; company needs
C) Long-range plans; company needs
D) Mission statements; customers' needs
E) Objectives; competitors' threats
Answer: D
56. Strategic business unit with low market share and high market growth is considered
as

A. Cash Cows
B. Stars
C. Dogs
D. Question marks

Ans : D

57. Exploration of new markets abroad is an example of

A. Strengths
B. Weaknesses
C. Opportunities
D. Threats

Ans : C

58. Situation in which company is making more sales with its existing product is
classified as

A. Market development
B. Market penetration
C. Product development
D. Diversification

Ans : B

59. According to marketing four Ps, credit terms can be classified as

A. Place
B. Product
C. Price
D. Promotion

Ans : C
60. Considering strategic planning, 'Organizations purpose' statement is known as

A. Vision statement
B. Mission statement
C. Value proposition
D. Both a and b

Ans : B