Strategic Marketing MCQ: Quiz! Test

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  • 1/10 Questions

    Marketing strategy in which a firm sells different segments and offers different product is classified as:

    • Individual marketing
    • Differentiated marketing
    • Mass marketing
    • Niche marketing
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About This Quiz

Strategic marketing means identifying the customers' needs or public and creating a marketing strategy plan to satisfy customer's requirement and improve the company's performance and increase profit. There are different marketing strategies, methods, sales techniques, and programs through which customers are targeted via newsletters, podcasts, advertisements, e-mails, etc. Take this quiz to test your knowledge and learn about the different concepts of Strategic marketing.

Strategic Marketing MCQ: Quiz! Test - Quiz

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  • 2. 

    When all customers have the same preferences, marketing strategy is classified as:

    • Mass marketing

    • Niche marketing

    • Individual marketing

    • Profitability marketing

    Correct Answer
    A. Mass marketing
    Explanation
    When all customers have the same preferences, the marketing strategy that is used is called mass marketing. In this approach, a company targets a large and diverse market with a standardized product and marketing message. The goal is to reach as many customers as possible and appeal to their shared preferences, rather than tailoring the marketing efforts to individual needs or smaller segments of the market. This strategy allows for economies of scale and cost efficiencies in production and marketing, as well as wide market coverage.

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  • 3. 

    What is the ideal life-cycle of an SBU (Strategic Business Unit) based on the BCG model?

    • Introduction > Growth > Maturity > Decline

    • Question mark > Star > Cash cow > Dog

    • Build > Hold >  Harvest > Divest

    • Planning> Staffing >  Executing

    Correct Answer
    A. Question mark > Star > Cash cow > Dog
    Explanation
    The ideal life-cycle of an SBU based on the BCG model is represented by the stages: Question mark, Star, Cash cow, and Dog. This model suggests that an SBU starts as a Question mark, which is a low market share and high market growth rate product. If successful, it can become a Star, which is a high market share and high market growth rate product. As the market matures, the SBU can transition into a Cash cow, which is a high market share and low market growth rate product. Finally, if the market declines, the SBU becomes a Dog, which is a low market share and low market growth rate product.

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  • 4. 

    The attempt of capturing a large territory by launching several front grand offensive marketing strategies is classified as:

    • Encirclement attack

    • Flank attack

    • Frontal attack

    • Resource attack

    Correct Answer
    A. Encirclement attack
    Explanation
    An encirclement attack refers to the strategy of capturing a large territory by launching multiple front grand offensive marketing strategies. This involves surrounding the target from all sides and overwhelming them with a coordinated and simultaneous assault. This approach aims to cut off the enemy's supply lines, isolate their forces, and ultimately lead to their defeat. By encircling the target, the attacker can gain a strategic advantage and control a significant area, thereby increasing their chances of success in capturing the territory.

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  • 5. 

    An ability to determine marketing strategy to affect customer mindset is considered as:

    • Develop multiplier

    • Program multiplier

    • Market multiplier

    • Customer multiplier

    Correct Answer
    A. Program multiplier
    Explanation
    The term "program multiplier" refers to the ability to determine marketing strategies that can influence the mindset of customers. This means that by implementing effective marketing programs, a company can have a multiplier effect on the perception and behavior of its target audience. The term "program" suggests that it involves a systematic and planned approach to marketing, rather than random or sporadic efforts. By using the right strategies, companies can amplify their marketing impact and achieve desired results in terms of customer mindset and behavior.

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  • 6. 

    What should be the end result of a successful positioning strategy?

    • The creation of a customer-focused value proposition: a cogent reason why the target market should buy the product.

    • The selection of the key market segment(s) which a company should target

    • The decision to build, hold, harvest or divest a product line or SBU (strategic business unit)

    • None

    Correct Answer
    A. The selection of the key market segment(s) which a company should target
    Explanation
    A successful positioning strategy should result in the selection of the key market segment(s) that a company should target. This means that the company has identified the specific group of customers who are most likely to be interested in and purchase their product. By targeting these key market segments, the company can focus their marketing efforts and resources on reaching and appealing to these specific customers, increasing the chances of success in the market.

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  • 7. 

    To be useful, market segments should be:

    • Original, profitable, accessible, global and growing

    • Based on psychographic variables

    • Measurable, substantial, accessible, differentiable and actionable

    • None of the above 

    Correct Answer
    A. Based on psychographic variables
    Explanation
    The correct answer is "Based on psychographic variables". This means that market segments should be defined based on the psychological characteristics, attitudes, interests, and lifestyles of the target customers. This approach allows for a deeper understanding of consumer behavior and preferences, enabling businesses to tailor their marketing strategies and offerings to specific segments. By considering psychographic variables, companies can better meet the needs and desires of their target customers, leading to more effective and successful marketing campaigns.

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  • 8. 

    SWOT analysis is a diagnostic tool. What elements are this tool based on?

    • Sustainability, Will, Objectives, Thoughts

    • Strengths, Weaknesses, Opportunities, Threats

    • Sustainability, Weaknesses, Objectives, Threats

    • Strengths, Will, Opportunities, Thoughts

    Correct Answer
    A. Strengths, Weaknesses, Opportunities, Threats
    Explanation
    A SWOT analysis is a diagnostic tool used to assess a situation or entity. It involves evaluating four key elements: Strengths (internal advantages), Weaknesses (internal disadvantages), Opportunities (external favorable circumstances), and Threats (external risks). This analysis helps gain insights, make informed decisions, and develop strategies by identifying and understanding these elements. It is a valuable tool for businesses, organizations, and individuals to assess their current state, leverage strengths, address weaknesses, exploit opportunities, and mitigate threats.

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  • 9. 

    What are the three key pillars of marketing strategy?

    • R&D, segmentation, positioning

    • Segmentation, targeting, positioning

    • Targeting, R&D, distribution

    • Outdoor Marketing

    Correct Answer
    A. Targeting, R&D, distribution
    Explanation
    The three key pillars of marketing strategy are targeting, R&D, and distribution. Targeting involves identifying and selecting specific customer segments that are most likely to be interested in the product or service. R&D refers to the research and development activities that help in creating innovative and competitive products. Distribution involves ensuring that the product reaches the target customers effectively and efficiently through various channels. These three pillars are crucial for developing a successful marketing strategy that aligns with the needs and preferences of the target market.

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  • 10. 

    Smart objectives are:

    • Simple, measurable, actionable, realistic, time-bound

    • Suitable, marketable, artistic, realistic, targetable

    • Serious, meant-to-be, assiduous, realistic, targetable

    • Being Discipline 

    Correct Answer
    A. Serious, meant-to-be, assiduous, realistic, targetable
    Explanation
    Smart objectives are serious, meant-to-be, assiduous, realistic, and targetable. This means that objectives should be taken seriously and approached with dedication and perseverance. They should also be realistic and achievable, and have a clear target or goal in mind.

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  • Current Version
  • Oct 10, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 02, 2008
    Quiz Created by
    BizStudent
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