Test 2 – IMBA 8 – Marketing Strategy (Section A: Easy Level)

Marketing strategy primarily answers which of the following?

• Only pricing decisions

• Only promotional strategies

• Which markets to serve and how to compete

• Only distribution channels

Marketing strategy is best described as:

• A short-term sales plan

• A long-term plan for achieving competitive advantage

• A financial budgeting tool

• A production schedule

Which of the following is NOT a component of marketing strategy?

• Segmentation

• Targeting

• Accounting audit

• Positioning

Segmentation refers to:

• Selecting markets

• Dividing markets into groups

• Promoting products

• Pricing decisions

Targeting involves:

• Dividing markets

• Selecting specific segments

• Pricing products

• Designing logos

Positioning refers to:

• Product packaging

• Customer perception of the brand

• Sales promotion

• Distribution

Which of the following is part of the marketing mix?

• Profit

• Promotion

• Productivity

• Policy

Market attractiveness refers to:

• Company profitability

• Appeal of a market for investment

• Employee satisfaction

• Production efficiency

Which factor indicates market attractiveness?

• Employee turnover

• Market growth rate

• Office location

• Staff size

Competitive position refers to:

• Market size

• Firm’s strength relative to competitors

• Government policy

• Technology