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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: 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: 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: What is the statement of the organizations purpose?

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

Answer: Mission statement 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: Corporate strategy is:

Answer: 1. The implementation of plans to achieve long-term aims
2. Decided by functional marketing strategy
3. The framework for functional marketing strategy
4. More specific and practical than marketing strategy
5. Reactive to short-term competitive activity

Answer: The implementation of plans to achieve long-term aims 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: What part of a marketing plan could this statement have come from?

Answer: 1. Objectives
2. Marketing audit
3. Corporate strategy
4. Critical issues
5. Marketing mix

Answer: Marketing audit 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:
Question: The Tsu Tsang Soya Sauce Company launches a new advertising campaign promoting their leading brand of soya sauce as a seasoning for soup. Their competitive strategy is to:

Answer: 1. Expand market share.
2. Defend its position.
3. Maintain status quo.
4. Attack their competitors.
5. Expand the total market.

Answer: Expand the total market 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: John Lusty is an intermediary providing a channel to supermarkets and caterers for overseas producers. What kind of export strategy are they facilitating for the overseas producers?

Answer: 1. Direct exporting
2. Indirect exporting
3. Joint venturing
4. Direct investment

Answer: Indirect exporting 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: 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: Which of the following is not a financial objective?

Answer: 1. Customer loyalty
2. Sales
3. Economic value added
4. Market share
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: 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: Muller has established a 40% share of the UK yogurt market since its launch in 1987. What kind of growth strategy did they use?

Answer: 1. Diversification
2. Product development
3. Market development
4. Market penetration

Answer: Market penetration Source:
Question: Which of the following is not a category of costs?

Answer: 1. Direct costs
2. Common costs
3. Competitive costs
4. Traceable costs
5. Economic value added

Answer: Competitive costs Source:
Question: What drives the marketing strategies of an organization?

Answer: 1. The vision of the marketing director
2. Internal resources of an organization
3. The vision of the CEO
4. The corporate strategy of the organization

Answer: The corporate strategy of the organization 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:

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