Strategic Marketing Quiz (Part 1)

Marketing can be defined as the process by which companies create value for ______?

• a. owners

• b. consumers

• c. individuals

• d. none of the above

________________ is the degree to which long-term customer relationships help in achieving organizational objectives 

• a. Effectiveness 

• b. Optimization 

• c. Strategic direction 

• d. Evaluation

The process of evaluating each market segment’s attractiveness and selecting one or more

segments to enter is called __________________.

• a. Market Targeting

• b. Market analysis

• c. Market positioning

• d. Market segmentation

SBU stands for _____________.

• a. Simple business unit

• b. Strategic business unit

• c. Small business unit

• d. Special Boat Unit

Developing the visioning aspects created and turning them into a series of high-level objectives for the company is called _________________.

• a. Visioning

• b. Objective Setting

• c. Resource Allocation

• d. Strategic Tradeoffs

What is the recommended length for a mission statement?

• a. one line

• b. four lines

• c. one paragraph

• d. None of the above

___________ is an aspirational description of what the company wants to be at some point in the future, based on its stretch goals.

• a. Vision

• b. Strategy

• c. Mission

• d. Goals

Which of the following is not included in the strategic marketing perspective?

• a. The types of customers it aims to serve

• b. The specific needs it aims to fulfil

• c. The technology used by the organization to satisfy customer needs

• d. The means of production of products or delivery of services

A detailed company review to determine whether organizational objectives are being met most efficiently is called _____________.

• a. Situational Analysis

• b. Strategic Audit

• c. Core competency analysis

• d. None of the above

__________ strategy is the approach to the work taken on by departments such as Marketing or Research and Development.

• a. Corporate

• b. Business

• c. Functional

• d. Retrenchment