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Strategic Marketing Interview Questions & Answers - Learning Mode

Strategic Marketing Interview Questions & Answers - Learning Mode

Strategic Marketing is the way a firm effectively differentiates itself from it's competitors by capitalizing on its strengths (both current and potential) to provide consistently better value to customers than its competitors. Marketing strategy includes all basic, short-term, and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its revenue.

Try Strategic Marketing Interview Questions & Answers - Exam Mode

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Strategic Marketing Interview Questions & Answers - Learning Mode
Try Strategic Marketing Interview Questions & Answers - Exam Mode
Question: Goldman Sachs provides financial information and news to professionals. What kind of niche strategy is this?

Answer: 1. Product or feature specialist
2. End-use specialist
3. Specific-customer specialist
4. Vertical-level specialist

Answer: End-use specialist Source:
Question: The marginal method of sales forecasting involves:

Answer: 1. Determining the point at which we cannot afford to spend any more.
2. Determining the point at which we will be spending more than our competitors.
3. Determining the point at which further expenditure will not be justified by increased sales.
4. Determining the point at which the organization breaks even.

Determining the point at which further expenditure will not be justified by increased sales.
Determining the point at which we will be spending more than our c Source:
Question: The No.2 Company challenges No.1 Company, the market leader, by concentrating on providing better customer services, which it believes to be one of No.1s weaknesses. What type of competitive strategy is it using?

Answer: 1. Flanking attack
2. Frontal attack
3. Encirclement attack
4. Bypass attack.

Answer: Flanking attack Source:
Question: Introducing new products to existing markets is an example of which of the following-

Answer: 1. Concentric diversification
2. Horizontal diversification
3. Conglomerate diversification
4. Vertical diversification

Answer: Horizontal diversification Source:
Question: The ACME Company sets its marketing budget by estimating the market leaders marketing spends. This approach to setting a budget is called:

Answer: 1. Percent of sales method
2. Marginal approach
3. Comparative parity method
4. Objective and task method

Answer: Comparative parity method Source:
Question: The Boston Consulting Group Model indicates which of the following-

Answer: 1. Market growth
2. Share of market against largest competitor
3. Competitor analysis
4. Market attractiveness
5. Market growth and share of market against largest competitor

Answer: Market growth and share of market against largest competitor Source:
Question: The Ford Motor Company reduced its costs by finding a cheaper supplier of tyres for its cars. This is an example of-
1. Reducing fixed costs
2. Reducing variable costs
3. Mobile defense
4. Reducing capital cost.

Answer: Answer: Reducing variable costs Source:
Question: what is your opinion in stratigic marketing

Answer: It must be customer focused and product oriented. Source:
Question: Your closest competitor has aggressively cut its price and your sales are affected. The decision whether or not to follow with a price cut of your own involves which trade-off?

Answer: Short-term profit vs. long-term growth. Source:
Question: The US Company Hilton Hotels only operates and markets the 163-bed luxury Hilton London Green Park Hotel. The building is owned and maintained by London and Regional Properties. What kind of market entry strategy are they using here?

Answer: 1. Joint venture
2. Franchising
3. Licensing
4. Contracting

Answer: Contracting Source:
Question: To develop its market segments, West Coast Fish planned sales visits to the top 25 hotels and restaurants in Ireland. Where would this appear in a marketing plan?

Answer: 1. Critical issues
2. Marketing strategies
3. Action plans
4. Executive summary
5. Objectives

Answer: Action plans Source:
Question: Hormel Foods Corporation in the USA allows the Danish company Tulip International to produce and market SPAM for the UK market under its own name. What kind of market entry strategy is Hormel using?

Answer: 1. Contracting
2. Licensing
3. Joint venturing
4. Franchising

Answer: Franchising Source:
Question: There are various methods of determining marketing promotional budgets. Which of the following statements reflect the shortfalls or disadvantages in the percentage of sales forecasting method?

Answer: 1. Extremely difficult to calculate, given the changing nature of markets
2. Is based on the false premise that sales cause promotion, rather than promotion causing sales
3. Relies on the marketer being able to persuade other departments within the firm to give up expenditure on their own pet projects
4. Bears no relationship to the state of the marketplace
5. Takes no account of changes in the market, or opportunities that might arise; is not customer-orientated, in other words
6 Source:
Question: When a company acquires a supplier through an acquisition strategy, this is referred to as:

Answer: 1. Backward integration
2. Forward integration
3. Vertical marketing system
4. Horizontal integration

Answer: Forward integration Source:
Question: Vestas Wind Systems has a 24% share of the world market for wind energy turbines. It has entered markets in Germany, Spain, Japan, USA and China. The growth strategy they are using is:

Answer: 1. diversification
2. market development
3. market penetration
4. product development

Answer: Market development Source:
Question: ACME Company sets its advertising budget by only spending up to the point where any further spending would not generate enough extra business to justify the outlay. What approach is it using to setting the budget?

Answer: 1. Marginal approach
2. Comparative parity method
3. Objective method
4. Task method
5. All-you-can-afford method

Answer: Marginal approach Source:
Question: Ryanair states that it intends to break its (Lufthansas) monopoly on the German market. Where would this statement appear in a Ryanair marketing plan?

Answer: 1. Action programs
2. Objectives
3. Marketing audit
4. Marketing strategy
5. Critical issues

Answer: Objectives Source:
Question: Marketing planning occurs at which of the following company levels-

Answer: 1. The product level
2. The market level
3. The business-unit level
Question: What is the statement of the organizations purpose?

Answer: 1. Mission statement
2. Organizational intent
3. Organizational perspective

Answer: Mission statement Source:
Question: The Objective and Task method of budgeting involves?

Answer: 1. Determining our own objectives and deciding what tasks we need to carry out.
2. Determining what the consumer's objectives are, and deciding what tasks we need to carry out to meet those objectives.
3. Finding out what the competitors' objectives are and deciding what tasks they will be carrying out.
4. Determining the marketing budget for promotional activities

Answer: Determining our own objectives and deciding what tasks we need to carry out Source:

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