Marketing M06 Practice Test

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• Describe common pricing strategies: cost-plus, value-based, competition-based.
• Sales Force Automation (SFA) in CRM helps how?
• STP in marketing stands for Segmentation, Targeting, and Positioning. Which sequence of activities best describes the STP process?
• What is the process called that coordinates a variety of communication tools to deliver a common message and influence customer perceptions and behavior?
• What is the difference between segmentation and buyer personas?
• Which statement best describes the trade-off between direct and indirect channel strategies?
• ROAS is used to evaluate digital campaigns. What does ROAS stand for?
• Which of the following options best fits personal selling practices?
• Besides company-level, campaign-level, department-level, and team-level KPIs, which type of KPIs can be measured?
• What are the ramifications of failing to coordinate a clear message across IMC channels?
• What are the main components of integrated marketing communications (IMC)?
• Which term refers to the process of planning and coordinating the movement of goods to ensure timely delivery to customers?
• In a value proposition canvas, which element represents the problems customers experience that the product aims to solve?
• How do promotions typically affect sales and brand health?
• What is the initial step required before a sales process can begin?
• Which type of marketing communication method relies on face-to-face interaction and relationship-building to sell products or services?
• Qualitative market research is best suited for gaining insights from which methods?
• Which term describes the ongoing process of selecting and managing suppliers to ensure quality and reliability?
• What term describes the process of purchasing the goods and services for a business?
• Which statement about primary data is correct?
• Which statement best describes a main marketing-strength benefit of a CRM system for IMC?
• Which statement best describes the role of coordinating communication tools to deliver a common message?
• Which function focuses on moving goods from producers to customers and includes warehousing, transportation, and order fulfillment?
• What is channel conflict and which approach can effectively manage it?
• Which market research method primarily collects numerical data across samples?
• Which segmentation dimension covers values and lifestyles?
• If the strategy stimulates demand and motivates customers to seek out its products, this strategy is known as a pull strategy.
• Which dimensions should a marketer consider when dealing with the human aspect of distribution channels?
• What impact could coordinating a consistent marketing message across multiple channels have on a target market?
• What does the promotion budget in a campaign plan best describe?
• Identify some of the broad service outputs that channel management can address?
• A pull promotion strategy primarily relies on which mechanism?
• Which term describes the general group of organizations that help move a product from producer to customer within a distribution network?
• Why is it important in supply chain management for suppliers to have visibility into a company's forecast and sales data?
• CRM supports measurement of multichannel campaigns across which channels?
• Which of the following is an example of a department store?
• If a retail store focuses on price as its main sales appeal and has a broad selection of merchandise, what type of retail store is it?
• Which option best reflects the typical components used to measure brand equity?
• Which of the following best captures the core objective of an IMC campaign?
• How is CAC calculated and how should it relate to CLV?
• Which approach helps mitigate channel conflict?
• Which item is not listed as a risk type in marketing campaign material?
• Which four categories are described in the BCG matrix?
• What is a value proposition canvas and what does it map?
• The retail industry is designed to create what for consumers?
• Which statement best describes IMC consistency?
• Which inventory management mechanism uses radio-frequency signals to automatically identify and track tags on items?
• What is the main purpose of idea screening in New Product Development?
• Which practice helps ensure reliability and minimizes bias in a questionnaire?
• Which of the following is an example of direct marketing among the common methods?
• In the AIDA model, which stage should a team emphasize to encourage trial when demand is stagnant?
• Which statement about using a standard messaging framework across channels is true?
• In attribution, which touchpoint is credited in last-touch models?
• What is the primary function of drafting a message statement?
• Which goal-setting framework is recommended for IMC objectives?
• Which strategy is most typical in the growth stage of a product's lifecycle?
• What term describes the process of coordinating diverse communication tools to influence customer perceptions and behavior?
• Which items should be included in a communication action plan template to keep responsibilities clear for everyone?
• What is CRM and what is its role in loyalty programs?
• What is a key consideration when selecting social media platforms for a campaign?
• Which market-sizing method starts with the total addressable market and applies segmentation-based filters to derive a serviceable market?
• What is brand equity and what are its drivers?
• Which metric best measures the profitability of an influencer marketing campaign?
• Which statement best describes how a supply chain differs from a marketing channel?
• What are the first three planning steps for marketers to define what they want to accomplish and with whom?
• Which statement best describes a push strategy?
• A/B testing in digital marketing—Which statement best describes how results should be interpreted?
• Which metric measures cost per thousand impressions?
• Which of the following is NOT one of the four considerations for channel alternatives?
• In the information research stage of the consumer decision-making process, how should a salesperson support the customer?
• Under what condition is standardization generally more appropriate in global marketing?
• When should marketing automation be implemented?
• Beyond capturing new leads and managing relationships, what is another broad business benefit CRM systems provide?
• To begin an action plan, what must a marketer know first?
• After a sale is made and consumers have purchased the product or service from a company, which additional IMC tools are used to support them, keep them satisfied, and retain them as customers?
• There is a need for a more sophisticated means of managing and tracking the complex movement of goods from place to place throughout a supply chain. Which of the following is one example of a mechanism used to manage and track inventory?
• A facility designed to store and move goods toward wholesalers, retailers, or customers is called a ______.
• Which of the following describes marketing tactic-level KPIs?
• How does a positioning map assist with competitive differentiation?
• To address third-party sales most effectively, which approach is essential?
• Which of the following best explains the process that finds, evaluates, and engages suppliers to provide goods and services to a business?
• What is a key consequence of using a variety of marketing tools without a clear, coordinated message?
• Why is the call to action the important final step in a company's messaging framework?
• Which flow is described when knowledge, instructions, messages, and communication move up and down a distribution channel?
• When deciding which key areas to measure in a marketing plan, what should a company start with?
• To reduce the cost of personal selling while preserving a personal touch, which approach is recommended?
• Which technology enables real-time tracking of goods across the supply chain?
• What is the effect of a well-aligned push/pull strategy on the selection of communication tools?
• If a marketer subdivides the budget across promotion tools, which portion of the plan are they working on?
• As part of risk assessment for a marketing campaign, which set lists risk factors to consider?
• For paid media campaigns, which KPI is used to measure cost efficiency?
• In planning, what element ensures accountability in a communication action plan?
• How does a value proposition differ from a brand promise?
• After focusing on the brand promise and the positioning statement, what should be her next priority in organizing marketing messages?
• Why is targeting critical when allocating marketing resources?
• What factors influence price elasticity of demand?
• Which other question should be answered about channel alternatives?
• A warehouse or storage facility where the emphasis is on processing and moving goods to wholesalers, retailers, and/or consumers is called a ________.
• What term most closely aligns with obtaining goods and services from external suppliers to fulfill organizational needs?
• Explain break-even analysis and its uses in pricing decisions.
• The BCG matrix categorizes products based on which two factors?
• In general, what are the companies and organizations that support a distribution channel collectively called?
• How long should an elevator pitch typically be to clearly convey its core message?
• Which factor tends to increase price elasticity of demand?
• Third-party sales are conducted by whom?
• A CRM system generally captures and maintains information that is useful to the sales and marketing process. Which type of information does it capture?
• Which of the following is not one of the seven common methods of marketing communication?
• Which retailer is an example of a department store?
• Which term refers to the overall plan for obtaining, moving, and storing goods to meet demand?
• CRM systems can help a company discover information about which key areas?
• What is a supply chain?
• What is customer lifetime value (CLV) and how is it calculated?
• Which driver of brand equity refers to assets owned by the brand that are protected and provide competitive advantage?
• When implementing an effective IMC strategy, which aspect should be considered?
• In the New Product Development process, which step comes right after idea generation?
• Which statement best reflects the impact of learning styles on learning?
• Which data source is considered secondary data?
• What is a disadvantage of managing a website?
• What characterizes a Cash Cow in the BCG matrix?
• What is the purpose of a communication plan in marketing?
• What is content marketing and how does it support brand awareness?
• Which set lists the three main brand architecture types?
• How can marketers estimate the impact of marketing campaigns when they have little experience in estimating impact?
• When Linda set S.M.A.R.T. goals for the company's product marketing campaign, she set herself up to be able to do what additional activities with her campaign?
• What is a customer journey map and why is it useful?
• Which list includes all seven common methods of marketing communication?
• A marketer considers push, pull, or a combination; what impact does this decision have on the rest of the marketing campaign?
• When a marketing communications activity uses paid media advertising, which KPI is commonly used to measure the campaign's effectiveness?
• SWOT analysis identifies which four elements?
• In price discrimination, which degree charges each customer their maximum willingness to pay?
• Which factors should be considered when deciding localization versus standardization in global marketing?
• What process involves identifying potential suppliers, evaluating their capabilities, and selecting a supplier?
• Which statement correctly distinguishes product line extension from brand extension?
• Which combination of metrics would you use to assess a website-based marketing campaign?
• Which factors should drive the decision between direct and indirect channels?
• Why is convergence between top-down and bottom-up market-sizing methods recommended?
• Which CRM information helps personalize marketing communications?
• Which statement describes a push promotion strategy?
• Which statement best reflects risk management in marketing campaigns as described?
• What are the 4Ps, and what additional elements are included in 7Ps for services?
• CRM system captures which types of information?
• Which of the following is not a form of consumer sales promotion?
• A small business launched its new website with little traffic; which digital marketing tool did the business likely not employ?
• A company conducts most of its business online or through mobile web tools and does little to no personal selling. What types of IMC tools could be used by marketers to support the company's sales process?
• Which of the following is an example of a consumer sales promotion technique?
• Which attribution model allocates credit across multiple touchpoints based on contribution to conversions?
• In price discrimination, which degree involves charging different prices to different demographic groups?
• Which definition best describes an integrated marketing communications (IMC) campaign?
• Which statement describes an endorsed brand architecture?
• In the information search stage, what should a salesperson do?
• What is the primary purpose of a CRM in the sales process?
• Which statement best describes a unique selling proposition (USP)?
• Which factor is part of the four considerations for channel alternatives?
• RFID technology is primarily used for which purpose in inventory management?
• What is the general conclusion about learning styles and learning outcomes?
• Which metrics are commonly tracked in digital marketing?
• How does a marketing plan align objectives with budget?
• Which planning element comes immediately after determining the target market in IMC planning?
• Which term best describes establishing relationships with suppliers to ensure a steady supply of materials?
• In STP, after segmenting the market, what is the next step?
• What is a common risk of using promotions heavily without value-building?
• Which brand architecture uses a single master brand across all products?
• Why is consumer privacy important in ethical marketing?
• Do learning styles contribute to more effective learning outcomes?
• Which frameworks are commonly used in competitive analysis?
• Which term describes the group of organizations that support a distribution channel among the general population?
• After evaluating segments, what should a firm do next in STP?
• Which metrics would typically be used to measure the effectiveness of SEO or website-driven marketing?
• Which pricing approach defines price primarily by the cost plus a fixed markup?
• Which communication method would best support a goal to boost sales of a convenience product in stores using a point-of-sale enticement?
• How do you determine optimal discounting and promotions to avoid margin erosion?
• PESTEL analysis examines which categories of external factors?
• A positioning strategy should be delivered through what mechanism?
• When crafting an elevator pitch built within a standard messaging framework, what is the recommended length and focus?
• Which are the main considerations of creating a channel objective?
• In channel design, which question helps determine governance of chosen channels?
• During the introduction stage of the product lifecycle, marketing strategies focus primarily on?
• What is the definition of a key performance indicator (KPI)?
• How do SEO and SEM differ?
• What is the key difference between product-focused and customer-focused marketing?