Deck 6: Strategic Marketing

Question 1

The master marketing strategy begins with a situational analysis.

Answer 1

True

Question 2

The pricing mix is how the customer values what is being offered and received.

Answer 2

True

Question 3

One division of a firm that may operate separately from the main organization is:

A) The marketing business unit
B) The human resource department
C) The strategic business unit
D) None of the above

Answer 3

C

Question 4

Different parts of the same company can posses their own mission statements.

Question 5

The overall view of marketing that includes defining marketing, setting marketing goals, and allocating the resources necessary to reach those goals describes:

A) Marketing expectations
B) Strategic marketing
C) Marketing management
D) A strategic business unit

Question 6

According to the textbook, strategy is the ability to:

A) Make and create a "fit" that helps you achieve your goal
B) Make trade- offs
C) Take advantage of opportunities to create new products
D) All of the above

Question 7

The ability of a leader to express strategic vision for the firm is:

A) Strategic solutions
B) Strategic leadership
C) Leadership forecasting
D) None of the above

Question 8

Strategy must come before management in strategic marketing.

Question 9

The competitive strategy is about being different.

Question 10

DMC stands for:

A) Destination Manager Corporation
B) Destination Management Company
C) Destination Meeting Company
D) Debt Management Corporation

Question 11

Constituents are also known as stakeholders.

Question 12

SWOT, also known as situational analysis, stands for:

A) Strengths, weaknesses, opportunities, trends
B) Studies, weaknesses, opportunities, threats
C) Strengths, weaknesses, opportunities, threats
D) Strengths, weather, opportunities, threats

Question 13

The process by which marketing strategies and substrategies are developed is known as:

A) The marketing system model
B) The strategic marketing model
C) The strategic system model
D) The strategic marketing system model

Question 14

Looking at the big picture, distributing resources and setting objectives describes:

A) Strategic resources
B) Strategic marketing
C) Strategic leadership
D) Strategic planning

Question 15

Many companies do not have marketing strategies.

Question 16

The combination of prices used by the firm to represent the value of the offering is:

A) The purchase mix
B) The pricing mix
C) The purchase pyramid
D) The price strategy

Question 17

Mission statements are primarily for the CEO of a company.

Question 18

Good leaders have to be willing to make choices that can affect the company and must be able to accept the consequences of their choices.

Question 19

Companies can be all things to the customer, and can pursue every opportunity.

Question 20

Mission statements indicate:

A) If they are privately owned
B) Who is leading the company
C) What the company will do with the profit they make
D) The purpose of the company