CN_ M1 Sample Questions.docx

What is the primary goal of a marketing strategy? A) To reduce costs B) To increase sales C) To define the company's direction D) To manage production efficiently Answer: B) To increase sales Section: Defining Marketing Strategy (Fab 1 – Fab 4) Which method is used for strategic marketing planning?...

What is the primary goal of a marketing strategy? A) To reduce costs B) To increase sales C) To define the company's direction D) To manage production efficiently Answer: B) To increase sales Section: Defining Marketing Strategy (Fab 1 – Fab 4) Which method is used for strategic marketing planning? A) OGSM Framework B) SWOT Analysis C) Four Ps D) Balanced Scorecard Answer: A) OGSM Framework Section: The Gist of Strategic Marketing Planning (Fab 5 – Fab 8) What is Market Opportunity Analysis focused on? A) Identifying new markets B) Reducing operational risks C) Product development D) Competitor analysis Answer: A) Identifying new markets Section: Market Opportunity Analysis (MOA) I (Fab 14 – Fab 18) What is essential in understanding your customer according to the document? A) Knowing their income B) Understanding their behavior C) Identifying their age group D) Assessing their education level Answer: B) Understanding their behavior Section: MOA II: Know your Customer (Fab 19 – Fab 25) What does the document emphasize about company goals? A) Cutting costs B) Expanding globally C) Building brand and customer equity D) Increasing product lines Answer: C) Building brand and customer equity Section: Company Goals: Building Brand & Customer Equity (Fab 26 – Fab 28) What does STP&D stand for? A) Segmenting, Targeting, Positioning, and Differentiation B) Sales, Technology, Processes, and Development C) Strategy, Tactics, Planning, and Delivery D) Standards, Testing, Performance, and Deployment Answer: A) Segmenting, Targeting, Positioning, and Differentiation Section: Segmenting, Targeting, Positioning & Differentiation (STP&D) (Fab 29 – Fab 33) What type of strategies are discussed for business growth? A) Product diversification strategies B) Market penetration strategies C) Cost leadership strategies D) All of the above Answer: D) All of the above Section: Growth Strategies (Fab 34 – Fab 36) What is a focus of the product strategy section? A) Lowering production costs B) New product development C) Phasing out old products D) Increasing product size Answer: B) New product development Section: Product Strategy & New Product Development (Fab 37 – Fab 41) What is emphasized in the promotions strategy section? A) Discount pricing B) Mass advertising C) Targeted communications D) Product placements Answer: C) Targeted communications Section: Promotions Strategy (Fab 42 – Fab 45) What role does digital marketing play according to the document? A) It's becoming less important B) It complements traditional marketing C) It's the only necessary form of marketing D) It's primarily for tech companies Answer: B) It complements traditional marketing Section: Digital Marketing Strategy (Fab 47 – Fab 50)