,1. Question: Which of the following strategic
marketing tools helps in identifying a company's
internal strengths and weaknesses and external
opportunities and threats?
- A) PEST Analysis
- B) SWOT Analysis
- C) BCG Matrix
- D) Porter's Five Forces
Answer: B) SWOT Analysis
Rationale: SWOT Analysis is designed to assess
both internal strengths and weaknesses, as well as
external opportunities and threats, providing a
comprehensive overview of the strategic environment.
2. Question: What is the main purpose of the
Product Life Cycle (PLC) in strategic marketing?
- A) To set prices for new products
- B) To manage product inventory levels
- C) To adjust marketing strategies throughout the
life stages of the product
- D) To forecast future sales with accuracy
Answer: C) To adjust marketing strategies
throughout the life stages of the product
Rationale: The PLC concept helps marketers
strategize and tailor their tactics according to the
,introduction, growth, maturity, and decline stages of
a product.
3. Question: Tactical marketing primarily focuses
on which of the following?
- A) High-level positioning and vision
- B) Day-to-day marketing operations and actions
- C) Strategic market entry options
- D) Global market expansion strategies
Answer: B) Day-to-day marketing operations and
actions
Rationale: Tactical marketing deals with the
execution of marketing plans and involves daily
decisions and activities that implement wider
strategies.
4. Question: Which of the following is a primary
objective during the growth stage of the Product Life
Cycle?
- A) Maximizing product awareness
- B) Recovering production costs
- C) Increasing market share
- D) Exiting the market promptly
Answer: C) Increasing market share
Rationale: During the growth stage, the focus
is on expanding market share and capturing more
customers as the product becomes widely accepted.
, ### Creating and Executing the Marketing Plan and
Budget
5. Question: In the context of a marketing
budget, which of the following is a fixed cost?
- A) Advertising spend
- B) Sales commissions
- C) Rent for office space
- D) Cost of goods sold
Answer: C) Rent for office space
Rationale: Fixed costs, such as rent, do not
change with the level of goods or services produced
whereas other options may vary directly with sales
activity or production levels.
6. Question: Which stage in developing the
marketing plan focuses on determining the value of
each marketing activity to the company's objectives?
- A) Market Analysis
- B) Strategy Formulation
- C) Budget Allocation
- D) Performance Evaluation
Answer: C) Budget Allocation
Rationale: During budget allocation, marketers
determine the value and priority of each activity as
it aligns with the company's strategic goals.
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