Quiz: Strategic Management Process MCQ Questions!

11 Questions | Total Attempts: 1688

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Quiz: Strategic Management Process MCQ Questions! - Quiz

This quiz is designed to assess your applied understanding of the value proposition and the role of marketing within the strategic planning process.


Questions and Answers
  • 1. 
    The purpose of the value proposition is to provide
    • A. 

      The firm with a reason why buyers prefer their product or service offering.

    • B. 

      The buyer with a reasons why the product or service is superior to competing offers.

    • C. 

      The firm with a moral code of ethics.

    • D. 

      The buyer with a pice point for purchases.

    • E. 

      The seller with a price point for purchases.

  • 2. 
    Sally's cookie company sells products both online and at retail locations. She has developed multiple value propositions because
    • A. 

      Cookies need more explanation than other products due to the variety of flavors.

    • B. 

      Sally is an overachiever and likes to do more work than necessary.

    • C. 

      Sally's firm is serving more than one target market.

    • D. 

      Cookies are part of a saturated market.

    • E. 

      Cookies are in the mature stage of the product life cycle.

  • 3. 
    The group of customers toward which an organization directs its marketing efforts is know as the
    • A. 

      Constituency.

    • B. 

      Target market.

    • C. 

      Direct market.

    • D. 

      Value group.

    • E. 

      Key market.

  • 4. 
    A company's resources, capabilities, and technology are examples of
    • A. 

      Capital investment.

    • B. 

      Internal conditions.

    • C. 

      Expenses.

    • D. 

      Overhead charges.

  • 5. 
    The economy, competitors and government regulations that could affect what the firm wants to do are part of the
    • A. 

      Internal environment

    • B. 

      Competitive mix

    • C. 

      External environment

    • D. 

      Marketing mix

  • 6. 
    Strategic planning is a process that
    • A. 

      Creates unchangeable plans.

    • B. 

      Allows individual departments to create plans independently of other areas of the corporation.

    • C. 

      Allows an individual department to determine what's best for it, regardless of the rest of the company.

    • D. 

      Helps an organization direct its resources to make the most of opportunities in the marketplace.

  • 7. 
    People who act like customers are known as
    • A. 

      Mystery shoppers.

    • B. 

      Decoy shoppers

    • C. 

      Shoplifters.

    • D. 

      The target market.

  • 8. 
    The firm's ____ explains  the purpose of the organization and why it exists.
    • A. 

      Value proposition

    • B. 

      Marketing plan

    • C. 

      Mission statement

    • D. 

      Financial report

  • 9. 
    BONUS:  Green marketing involves
    • A. 

      Marketing environmentally safety products and services in a way that is good for the company.

    • B. 

      Utilizing recycled materials for promotional purposes only.

    • C. 

      Marketing green spaces, such as parks.

    • D. 

      Using the Environmental Protection Agency in marketing efforts.

    • E. 

      Marketing environmentally safe products and services in a way that is good for the environment.

  • 10. 
    You own a store in a town where the population has changed from low-income singles to high-income families.  You need to make changes based on what type of environmental change?
    • A. 

      Economic

    • B. 

      Technological

    • C. 

      Social and cultural

    • D. 

      Legal and political

  • 11. 
    The purpose of a vision statement is ________________________________________________.
    • A. 

      To predict the demographics of a target market

    • B. 

      To reflect historically on a companies performance

    • C. 

      To give an accurate representation of why a company exists

    • D. 

      To create a compelling future-oriented statement of what a company aspires to be

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