Marketing Strategy Fundamentals Exam Answers – VMEDU

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Question 1: As a Senior Marketing Manager of a newly launched company, you are responsible for identifying the type of customers your company needs to target based on specific products. In this context, which one of the following processes would you consider?

• Determine Opportunities and Threats
• Determine Strengths and Weaknesses
• Identify Competition
• Define Market and Identify Market Segments

Question 2: As a Marketing Manager, understanding ______ is one of the first steps in determining whether or not a company has the ability to fulfill customer demands.

• Organizational Capabilities
• Existing Goals
• Value Chain Analysis
• Opportunities and Threats

Question 3: You have been appointed as the Marketing Head in ABC Company. Which one of the following is NOT TRUE regarding the senior management in Determine Strengths and Weaknesses process?

• Senior management receives information from the functional strategy teams.
• With senior management?s perspective, the marketing team risks overlooking the strengths and weaknesses in other functional areas.
• Senior Management may decide to support products that may be liabilities in the short term, but are expected to be beneficial in the long term.
• Senior management acquires a comprehensive view of the company.

Question 4: Which one of the following Corporate Strategies maps the capabilities within the company and considers talent management and acquisition needs to sustain growth?

• Operations Strategy
• Product Strategy
• Marketing Strategy
• Human Resource Strategy

Question 5: Organizational capabilities, Assumptions, and Constraints are highly recommended inputs for which one of the following processes?

• Determine Strengths and Weaknesses
• Identify Competition
• Determine Metrics
• Determine Objectives

Question 6: You joined ABC Company as a Marketing Manager and you are responsible for developing a marketing strategy for a product. As part of determining the strengths and weaknesses of the company, which one of the following areas of business would you consider to identify the organizational capabilities?

• Finance
• Operations
• Human Resources
• All of the above

Question 7: As a marketing director of a company, your role is to guide the marketing strategy team. However, you discover that the company is unable to implement the strategies created by the team. Which one of the following is the main reason behind this?

• Not understanding strengths and weaknesses
• Senior management issues
• Organizational capabilities
• Poor marketing research

Question 8: An e-commerce company has decided to launch a points-based loyalty program to lure customers. This decision is based on segmenting customers using which one of the following variables under Behavioral Segmentation?

• Consumption Behavior
• Purchase Behavior
• Need
• Consumer Purchasing Roles

Question 9: As the Chief Marketing Officer of XYZ Corp., you decide to influence your customers with the help of opinion leaders. According to the SMstudy® Guide, which one of the following variables under the “behavioral segmentation” has resulted in your decision?

• Communication behavior
• Needs of costumer
• Purchase behavior
• Consumption Behavior

Question 10: Which one of the following is NOT a tool for determining pricing strategy?

• Target Costing
• Positioning Statement
• Perceived Value Pricing
• Value Pricing

Question 11: The main objective of the seller’s marketplace is to establish a ___________ to procure products.

• Demand chain
• Sales chain
• Supply chain
• Strong chain

Question 12: The main objective of the _________________ is to establish a supply chain to procure products and then establish a distribution channel to sell the products to a wide variety of customers, often referred to as “mass marketing”.

• Seller’s Marketplace
• Auction
• Traditional Marketplace
• Buyer’s Marketplace

Question 13: You are the Marketing Head of XYZ Company, which deals purely with online businesses. Your role involves identifying all key activities of the company that are involved in delivering the final product or service to its customers. With reference to Michael Porter’s concept on value chain, which one of the following primary activities is least relevant for your company?

• Operations
• Marketing and Sales
• Service
• Outbound Logistics

Question 14: Innovative business models may include:

• Online marketplaces
• Online services
• Online networking
• All the above

Question 15: The SMstudy® Guide defines Sales and Marketing in terms of processes that comprise a series of actions that leads to a particular ____________.

• Revenue
• Function
• Result
• Appendix

Question 16: Identifying competition, understanding industry trends, and selecting target segments involves all the following processes, EXCEPT:

• Define Market and Identify Market Segments
• Create Differentiated Positioning
• Identify Competition
• Select Target Segments

Question 17: Which one of the following can serve as a tool for the Define Market and Identify Market Segments process?

• Demographic Segmentation
• Market Analysis
• PESTEL Analysis
• Value Chain Analysis

Question 18: Search Engine Optimization, Search Engine Marketing, Social Media Marketing, and Email Marketing are some of the tools pertaining to _________________

• Marketing research
• Corporate sales
• Marketing Strategy
• Digital Marketing

Question 19: You are the Marketing Manager of a telecom company. Your team has conducted a primary research to obtain a better understanding of the company’s strengths and weaknesses. Which one of the following outputs can result from this primary research?

• Marketing Research Reports
• Industry Reports
• Market Attractiveness Report
• Market Segments

Question 20: ____________ is the process of creating a distinct image of a product or range of products in the customer’s mind.

• Sales
• Research
• Branding
• None

Question 21: Which one of the following Corporate Strategies defines how the company will manage operational activities, manufacture its products (or provide services), and provide the corresponding customer support and warranty?

• Operations Strategy
• Senior Management Directions and Insights
• Finance Strategy
• Human Resource Strategy

Question 22: Value Chain Analysis is a highly recommended tool for which one of the following processes?

• Determine Strengths and Weaknesses
• Define Market and Identify Market Segments
• Determine Opportunities and Threats
• Identify Competition

Question 23: Which one of the following is NOT true about the barter system?

• The barter system lost its relevance when coins and other forms of money became popular
• The barter system may replace money in times of monetary crisis
• The barter system is dependent on having access to the appropriate persons with whom things can be exchanged
• Branding and advertising products is an important aspect of the barter system

Question 24: You are the Marketing Manager of a pharmaceutical company. While conducting market research for a new product, you used content and information that is currently available within the company and information that is readily obtainable through company reports, trade journals, and industry publications. Which one of the following categories of market research did you follow?

• Primary Marketing Research
• Secondary Marketing Research
• Industry reports
• None of the above

Question 25: Which one of the following is an advantage of BCG Growth-Share Matrix?

• Both market share and market growth rate can be difficult to ascertain accurately in many industries, and especially in new industries.
• It reveals the sources of cash flow generation and loss and thus aids in difficult decisions such as discontinuing a product line.
• The correlation between high market share and high profitability is not universal.
• The progression of a Star into a Cash Cow or a Cash Cow into a Dog is also far from certain.

Question 26: Which one of the following statements is correct about marketing media?

• In recent times, marketing media has become less fragmented.
• Conventional mass media marketing is the best because all target segments are reachable using these traditional media forms.
• Companies must evaluate all media in terms of who the target audience is and what media resonates with them best.
• Fragmented new-age marketing generally supports old and big brands.

Question 27: You are a Marketing Director of a pharmaceutical company. Your role is to evaluate the products as per their contribution to the company’s revenue. Which one of the following would you use?

• Value Chain Analysis
• Market Analysis
• Product Portfolio Analysis
• PESTEL Analysis

Question 28: Sellers usually have more advantage than buyers in a…

• Traditional Marketplace
• Seller’s Marketplace
• Auction
• Online Marketplace

Question 29: As defined in the SMstudy® Guide or SMBOK® Guide, ‘Smart Marketing’ is about which one of the following?

• Generating greater revenues with relatively smaller budgets by using marketing analytics
• Reaching the maximum number of a target audience’s members by the use of different marketing media channels
• Saving money for the organization by using only the free marketing media
• Creating smart phone apps to engage with customers

Question 30: Selected Metrics is a highly recommended input for which of the following processes?

• Decide Marketing Aspects and Allocate Budget
• Determine Pricing Strategy
• Identify Competition
• Determine Objectives

Question 31: Which one of the following is NOT TRUE about the product categories as defined by the BCG Growth–Share Matrix?

• Stars are products that have high market share in markets with high growth rates.
• Cash Cows are products that have high market share but low growth in the market.
• Dogs are products that have low market share in stagnant or declining markets.
• Question Marks are products in markets with low growth rates but currently have a high market share.

Question 32: Strengths and Weaknesses, Opportunities and Threats, Market Attractiveness Report are highly recommended inputs for which one of the following processes?

• Determine Strengths and Weaknesses
• Define Market and Identify Market Segments
• Determine Opportunities and Threats
• All of the above

Question 33: You have been appointed as the Marketing Manager in ABC Company. _______ are particularly relevant when considering weaknesses during market opportunity assessment because they generally limit the decisions and abilities of the Sales and Marketing team.

• Organizational Capabilities
• Constraints
• Marketing Research Reports
• Assumptions

Question 34: As a Marketing Manager, understanding and addressing the needs of the entire distribution channel external to the company, ensures that a product or service is delivered and sold to customers in the best possible way. This statement best refers to…

• Pricing strategy
• Distribution strategy
• Competition
• Positioning

Question 35: Which one of the following statements is FALSE about bargaining power of suppliers?

• Suppliers can impact the cost of production by changing the prices of raw materials.
• A significant increase in raw material prices can force smaller businesses or less profitable firms to exit the market.
• Availability of low–cost substitutes is an example of bargaining power of suppliers.
• Refers to the intensity of competition among existing organizations in an industry.

Question 36: You have joined ABC Company as a marketing team lead. Your company has diversified its business into gaming and has a vision to be the market leader. Which one of the following would you NOT consider while examining the organizations capabilities?

• Availability of financial resources to allocate to business units
• Skilled technical and creative resources
• Past experience with entering similar industries
• Products offered by competitors

Question 37: You are the Product Manager of a smartphone company. The increase in demand of smartphones has led to great innovation and acceptance. Complementary products like the smartwatch are gaining popularity and you decide to expand your product portfolio. As per product portfolio analysis, to which category does this product fall?

• Tomorrow’s Breadwinners
• Failures
• Investments in Managerial Ego
• Developments

Question 38: You have been appointed as the Marketing Manager in ABC Company. Which one of the following statements about determining metrics, objectives, and budgets for all of the company’s marketing activities is INCORRECT?

• Overall pricing and distribution strategies for a product or brand are selected while determining metrics.
• Chosen metrics should help to measure the success or failure of the Marketing Strategy.
• Quantifiable and time-based objectives should be determined for all of the chosen metrics.
• While allocating marketing budget, budget is also allocated to different marketing Aspects

Question 39: You are the Sales Manager of XYZ Company. Your role involves evaluating the strengths and weaknesses of the company’s product portfolio. With reference to the BCG Growth-Share Matrix, which of the following product categories would you consider as a weakness for the company?

• Dogs
• Stars
• Cows
• Question Marks

Question 40: Online pay-per-click advertising, where the advertisers pay only for legitimate click on the ad copy, is a form of…

• Unidirectional Marketing
• Mass Media Marketing
• Bidirectional Marketing
• None of the above