Chapter 2 - Marketing | Take the Quiz

Generate an image of a classroom setting with marketing-related posters on the walls, students engaged in learning, and visual elements like charts and graphs illustrating marketing concepts.

Test Your Marketing Knowledge!

Welcome to our comprehensive quiz designed to challenge your understanding of marketing principles! Dive into essential concepts of strategic planning, market segmentation, and more. Test your knowledge and see how well you can navigate the world of marketing.

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20+ engaging questions
Multiple choice and fill-in-the-blank formats
Ideal for students and marketing professionals

28 Questions7 MinutesCreated by MarketingGuru347

The set of controllable, tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market

The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.

This is when a company must harvest, or divest businesses that are unprofitable or that no longer fit the strategy.

Please rearrange the following steps of strategic planning to the correct order:

Planning marketing and other functional strategies.
Defining the company mission
Designing the business portfolio
Setting company objectives and goals

Building profitable customer relationships, investing in research, and improving profits is:

Business Objectives

Marketing Objectives

Increasing market share, creating local partnerships and increasing promotion.

Business Objectives

Marketing Objectives

What types of Strategic business units can there be?

Company division

Production Department

Product line within a division

Single product or brand

Matrix approaches are difficult in defining SBUs and measuring market share and growth, time consuming, expensive and focus on current businesses not future planning.

True

False

Managing the marketing process requires the four marketing management

functions: analysis, planning, implementation, and control.

True

False

"Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives." is the how we implement a marketing strategy.

True

False

Marketing ROI is calculated using: marketing investment divided by the costs of the marketing investment

True

False

__________ is the division of a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate products or marketing mixes.

__________ is the process of evaluating each market segment’s attractiveness and selecting one or more segments to enter.

__________ is arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

________ is a series of departments that carry out value creating activities to design, produce, market, deliver, and support a firm’s products.

Value chain

Value delivery network

________ is made up of the company, suppliers, distributors, and ultimately customers who partner with each other to improve performance of the entire system.

Value chain

Value delivery network

_______ is the collection of businesses and products that make up the company.

The business portfolio

Portfolio Analsysis

_______ is a major activity in strategic planning whereby management evaluates the products and businesses that make up the company.

The business portfolio

Portfolio Analsysis

_________ is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities, and its changing marketing opportunities.

Strategic planning

The mission statement

_________ is the organization’s purpose; what it wants to accomplish in the larger environment.

Strategic planning

The mission statement

Chapter 2 - Marketing

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