21⟩ 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: Reducing variable costs
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“Strategic Marketing Interview Questions and Answers will Guide us that A marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Learn more about the basic and advance Strategic Marketing concepts or get preparation of Strategic Marketing jobs interview by our Strategic Marketing Interview Questions and Answers Guide.”
35 Strategic Marketing Questions And Answers
22⟩ 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
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
23⟩ What drives the marketing strategies of an organization?
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
24⟩ 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?
1. Direct sales effort vs. market development
2. Short-term profit vs. long-term growth
3. Penetrating existing markets vs. developing new ones
4. Profit vs. non-profit goals
Answer: Short-term profit vs. long-term growth
25⟩ Which of the following is not a category of costs?
1. Direct costs
2. Common costs
3. Competitive costs
4. Traceable costs
5. Economic value added
Answer: Competitive costs
26⟩ What is the marketing audit?
1. An examination of the costs and expenditures involved in marketing
2. A check on the cost-effectiveness of the firm marketing expenditure
3. A 'snapshot' of the firm's current marketing activities
4. The introduction of a new costing mechanism
Answer: A 'snapshot' of the firm current marketing activities
27⟩ When a company acquires a supplier through an acquisition strategy, this is referred to as
1. Backward integration
2. Forward integration
3. Vertical marketing system
4. Horizontal integration
Answer: Forward integration
28⟩ What is the statement of the organizations purpose?
1. Mission statement
2. Organizational intent
3. Organizational perspective
Answer: Mission statement
29⟩ When Sainsburys supermarket launched their own brand of Classic Cola, what kind of market follower strategy were they using?
1. Cloner
2. Adaptor
3. Product development
4. Imitator
Answer: Imitator
30⟩ Corporate strategy is
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
31⟩ Introducing new products to existing markets is an example of which of the following-
1. Concentric diversification
2. Horizontal diversification
3. Conglomerate diversification
4. Vertical diversification
Answer: Horizontal diversification
32⟩ Which of the following statements are not true of market challengers?
1. They carry out flanking activities.
2. They have a stake in the status quo.
3. They often direct their competitive activity at smaller firms.
4. They tend to use penetration-pricing strategies as a way of expanding their existing business.
Answer: They have a stake in the status quo.
33⟩ The ACME Company sets its marketing budget by estimating the market leaders marketing spends. This approach to setting a budget is called
1. Percent of sales method
2. Marginal approach
3. Comparative parity method
4. Objective and task method
Answer: Comparative parity method
34⟩ West Coast Fish have no formal organization for marketing. Where this would be stated in its marketing plan?
1. Financial controls
2. SWOT Analysis
3. Marketing strategy
4. Executive summary
Answer: SWOT Analysis
35⟩ 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?
1. Critical issues
2. Marketing strategies
3. Action plans
4. Executive summary
5. Objectives
Answer: Action plans
