Developing Marketing Strategies and Plans MCQS

1. A key ingredient of the marketing management process is insightful, ________ marketing strategies and plans that can guide marketing activities.
a. creative
b. measurable
c. macro
d. micro
e. niche
Answer: a
2. According to a chapter story about H&M clothing stores, H&M is able to put products out quickly and inexpensively by all of the following EXCEPT ________.
a. having few middlemen and owning no factories
b. buying large volumes
c. having extensive experience in the clothing industry
d. having a great knowledge of which goods should be bought from which markets
e. having total control of its distribution channel from the time the goods are produced until the time they are sold
Answer: e
3. The task of any business is to deliver ________ at a profit.
a. customer needs
b. products
c. customer value
d. products and services
e. improved quality
Answer: c
4. In a hyper competitive economy such as ours, a company can win only by fine-tuning the value delivery process and choosing, providing, and ________ superior value.
a. communicating
b. selecting target markets with
c. composing
d. developing
e. researching
Answer: a
5. The traditional view of marketing is that the firm makes something and then ________ it.
a. markets
b. sells
c. distributes
d. prices
e. services
Answer: b
6. Today, the “mass-market” is actually splintering into numerous ________, each with its own wants, perceptions, preferences, and buying criteria.
a. micro markets
b. market targets
c. macro markets
d. customer cliques
e. demographic units
Answer: a
7. The first phase of the value creation and delivery sequence is ________ that represents the “homework” marketing must do before any product exists.
a. choosing the value
b. market research
c. target marketing
d. service consideration
e. projective thinking
Answer: a
8. The last step in the value creation