Strategic Marketing Interview Preparation Guide Download PDF
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:
Table of Contents
1 :: The Objective and Task method of budgeting involves:
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
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
2 :: Which of the following is not a financial objective?
1. Customer loyalty
2. Sales
3. Economic value added
4. Market share
Answer: Customer loyalty
2. Sales
3. Economic value added
4. Market share
Answer: Customer loyalty
3 :: What is the difference between strategy and tactics?
1. Strategy reflects medium term objectives.
2. Strategy is about major issues: tactics is about minor issues.
3. Strategy is about overall direction: tactics is about ways of getting there.
4. Strategy is formal, tactics are informal
Answer: Strategy is about overall direction: tactics is about ways of getting there
2. Strategy is about major issues: tactics is about minor issues.
3. Strategy is about overall direction: tactics is about ways of getting there.
4. Strategy is formal, tactics are informal
Answer: Strategy is about overall direction: tactics is about ways of getting there
4 :: Marketing planning occurs at which of the following company levels-
1. The product level
2. The market level
3. The business-unit level
4. All of the above
Answer: All of the above
2. The market level
3. The business-unit level
4. All of the above
Answer: All of the above
5 :: 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?
1. Marginal approach
2. Comparative parity method
3. Objective method
4. Task method
5. All-you-can-afford method
Answer: Marginal approach
2. Comparative parity method
3. Objective method
4. Task method
5. All-you-can-afford method
Answer: Marginal approach
6 :: 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
2. Marketing strategies
3. Action plans
4. Executive summary
5. Objectives
Answer: Action plans
7 :: 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
2. Marginal approach
3. Comparative parity method
4. Objective and task method
Answer: Comparative parity method
8 :: 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
2. SWOT Analysis
3. Marketing strategy
4. Executive summary
Answer: SWOT Analysis
9 :: 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.
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.
10 :: 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
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
11 :: What is the statement of the organizations purpose?
1. Mission statement
2. Organizational intent
3. Organizational perspective
Answer: Mission statement
2. Organizational intent
3. Organizational perspective
Answer: Mission statement
12 :: 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
2. Horizontal diversification
3. Conglomerate diversification
4. Vertical diversification
Answer: Horizontal diversification
13 :: 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
2. Forward integration
3. Vertical marketing system
4. Horizontal integration
Answer: Forward integration
14 :: 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
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
15 :: 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
2. Common costs
3. Competitive costs
4. Traceable costs
5. Economic value added
Answer: Competitive costs
16 :: 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
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
17 :: 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
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
18 :: 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
2. Defend its position.
3. Maintain status quo.
4. Attack their competitors.
5. Expand the total market.
Answer: Expand the total market
19 :: 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
2. Reducing variable costs
3. Mobile defense
4. Reducing capital cost.
Answer: Reducing variable costs
20 :: The No.2 Company challenges No.1 Company, the market leader, by concentrating on providing better customer services, which it believes to be one of No.1s weaknesses. What type of competitive strategy is it using?
1. Flanking attack
2. Frontal attack
3. Encirclement attack
4. Bypass attack.
Answer: Flanking attack
2. Frontal attack
3. Encirclement attack
4. Bypass attack.
Answer: Flanking attack
21 :: 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
2. Adaptor
3. Product development
4. Imitator
Answer: Imitator
22 :: Goldman Sachs provides financial information and news to professionals. What kind of niche strategy is this?
1. Product or feature specialist
2. End-use specialist
3. Specific-customer specialist
4. Vertical-level specialist
Answer: End-use specialist
2. End-use specialist
3. Specific-customer specialist
4. Vertical-level specialist
Answer: End-use specialist
23 :: Muller has established a 40% share of the UK yogurt market since its launch in 1987. What kind of growth strategy did they use?
1. Diversification
2. Product development
3. Market development
4. Market penetration
Answer: Market penetration
2. Product development
3. Market development
4. Market penetration
Answer: Market penetration
24 :: 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:
1. diversification
2. market development
3. market penetration
4. product development
Answer: Market development
2. market development
3. market penetration
4. product development
Answer: Market development
25 :: Ryanair states that it intends to break its (Lufthansas) monopoly on the German market. Where would this statement appear in a Ryanair marketing plan?
1. Action programs
2. Objectives
3. Marketing audit
4. Marketing strategy
5. Critical issues
Answer: Objectives
2. Objectives
3. Marketing audit
4. Marketing strategy
5. Critical issues
Answer: Objectives