MKTG 3650 EXAM QUESTIONS WITH
100% CORRECT ANSWERS
When planning, strategists should remember that only three ways to differentiate
anything exist. Which of the following statements is not one of the three core pathways
to differentiation? - Answer- Through managing perceived branding values.
Strategy originates as an ancient Greek word that means: - Answer- Military
commander
The statement that "People perform to their metrics" underscores (emphasizes) the
degree to which: - Answer- Having the right measurements and rewards in place inside
firms is key to their planning success.
Emus, kangaroos, and even sharks were used to illustrate how important it is for firms
to: - Answer- Keep moving forward and growing
The actual written content of mission statements should focus primarily on: - Answer-
Identifying how the firm will profitably satisfy customer needs.
Marketers should strategically arrange their strengths and then target these
advantages, their core competencies, against their competitors' comparative
weaknesses. This principle, or law, is best described as the principle of: - Answer-
Concentration
Extreme differentiating and positioning value is associated with owning something;
specifically, owning a word inside the mind of a targeted market segment. This principle,
or law, is best described as the principle of: - Answer- Focus
Marketers should be first to market, entry-wise, in order to have a chance to remain first,
in the mind. This principle, or law, is best described as the principle of: - Answer-
Leadership
Markets are __________ in nature. - Answer- Heterogeneous
The word metrics is a modern strategic planning term that is primarily used to indicate
or establish: - Answer- Measurements
Benchmarks
Both a and b are correct. (correct)
,The daunting prospect of sinking-the-boat: - Answer- Involves risks of ruining
organizations by making huge strategic bets, and losing.
Balance, the context of strategic planning, would entail: - Answer- Acting like a person
of thought but thinking like a person of action
Which of the following statements was not discussed as a value that emanates from the
planning process. Planning facilitates: - Answer- Superior positioning
When __________ exists, not only is what might happen unclear; the probabilities of
these unknown things happening are not known, either. Two sets of unknown-
unknowns are in play. - Answer- Uncertainty
What does strategy mean? - Answer- Getting more out of a situation than the original
balance of power suggests should be possible
The art of creating and exercising power
Leading or managing change
All of the above (correct)
Planning processes should include carefully examining the: - Answer- Past, present,
and future
Marketers typically cannot control all factors that exist inside market environments.
When confronting these situations, what should marketers do? - Answer- Accept, then
make accommodations for the fact that some factors are not controllable
According to Jack Welch, if your firm doesn't have a competitive advantage, then what it
should do - Answer- Don't compete
Which of the following statements about strategy is true? - Answer- Each preceding
statement is true
Strategic planners should take into consideration: - Answer- The Past
The Present
The Future
All of the above (correct)
Which rule emphasizes the importance of evaluating the consequences of a strategic
decision? - Answer- The 10-10-10 Rule
What is the singular task that highly successful marketing must master? - Answer- The
ability to manipulate, usually in subtle fashions, customer's perceptions
, The describes a situation where people are temporarily satisfied after they have
received whatever new thing they wanted and obtained but then quickly find themselves
lustfully looking forward toward something else that is new. - Answer- Hedonic treadmill
Market segments are generally __ in nature - Answer- Homogeneous
The market consists of: - Answer- Everyone who has purchased or who might purchase
a given product (brand).
A target market segment, or target segment, is a group of potential customers for which
marketers should generally: - Answer- Develop a unique and uniquely desirable
marketing mix.
A cash cow is a branded product that enjoys a: - Answer- High market share of a low
growth market.
The act of market segmentation involves: - Answer- Subdividing larger markets into
smaller subsets.
Statement A: Many products feature a substantial service—or intangible—component.
Statement B: Many services feature a substantial product—or tangible—component. -
Answer- Statements A and B are each true.
What economics concept best describes describe the consequences that arise when
new types of technologies successful enter existing markets? - Answer- Creative
destruction
Each addresses motivation theories about consumer behavior - Answer- True
When marketers strategically choose to use nostalgia in their messages while
strategically pursuing customers whose ages end in 9 (29, 39, 49...) they are leveraging
the power of? - Answer- Targeting
Which of the following descriptions do not apply to perceptions? - Answer- Marketers
find it difficult to change customer perceptions.
Which asset contributes the most to marketing professionals' ability to produce
successful innovations? - Answer- Creativity
Anything (or anyone) that can solve customers' problems while generating profits for
organizations rightfully can be described as a: - Answer- Product
Which type of conditioning refers to the pairing of conditioned and unconditioned stimuli
and to the creation of learned responses as a result? - Answer- Classical Conditioning
100% CORRECT ANSWERS
When planning, strategists should remember that only three ways to differentiate
anything exist. Which of the following statements is not one of the three core pathways
to differentiation? - Answer- Through managing perceived branding values.
Strategy originates as an ancient Greek word that means: - Answer- Military
commander
The statement that "People perform to their metrics" underscores (emphasizes) the
degree to which: - Answer- Having the right measurements and rewards in place inside
firms is key to their planning success.
Emus, kangaroos, and even sharks were used to illustrate how important it is for firms
to: - Answer- Keep moving forward and growing
The actual written content of mission statements should focus primarily on: - Answer-
Identifying how the firm will profitably satisfy customer needs.
Marketers should strategically arrange their strengths and then target these
advantages, their core competencies, against their competitors' comparative
weaknesses. This principle, or law, is best described as the principle of: - Answer-
Concentration
Extreme differentiating and positioning value is associated with owning something;
specifically, owning a word inside the mind of a targeted market segment. This principle,
or law, is best described as the principle of: - Answer- Focus
Marketers should be first to market, entry-wise, in order to have a chance to remain first,
in the mind. This principle, or law, is best described as the principle of: - Answer-
Leadership
Markets are __________ in nature. - Answer- Heterogeneous
The word metrics is a modern strategic planning term that is primarily used to indicate
or establish: - Answer- Measurements
Benchmarks
Both a and b are correct. (correct)
,The daunting prospect of sinking-the-boat: - Answer- Involves risks of ruining
organizations by making huge strategic bets, and losing.
Balance, the context of strategic planning, would entail: - Answer- Acting like a person
of thought but thinking like a person of action
Which of the following statements was not discussed as a value that emanates from the
planning process. Planning facilitates: - Answer- Superior positioning
When __________ exists, not only is what might happen unclear; the probabilities of
these unknown things happening are not known, either. Two sets of unknown-
unknowns are in play. - Answer- Uncertainty
What does strategy mean? - Answer- Getting more out of a situation than the original
balance of power suggests should be possible
The art of creating and exercising power
Leading or managing change
All of the above (correct)
Planning processes should include carefully examining the: - Answer- Past, present,
and future
Marketers typically cannot control all factors that exist inside market environments.
When confronting these situations, what should marketers do? - Answer- Accept, then
make accommodations for the fact that some factors are not controllable
According to Jack Welch, if your firm doesn't have a competitive advantage, then what it
should do - Answer- Don't compete
Which of the following statements about strategy is true? - Answer- Each preceding
statement is true
Strategic planners should take into consideration: - Answer- The Past
The Present
The Future
All of the above (correct)
Which rule emphasizes the importance of evaluating the consequences of a strategic
decision? - Answer- The 10-10-10 Rule
What is the singular task that highly successful marketing must master? - Answer- The
ability to manipulate, usually in subtle fashions, customer's perceptions
, The describes a situation where people are temporarily satisfied after they have
received whatever new thing they wanted and obtained but then quickly find themselves
lustfully looking forward toward something else that is new. - Answer- Hedonic treadmill
Market segments are generally __ in nature - Answer- Homogeneous
The market consists of: - Answer- Everyone who has purchased or who might purchase
a given product (brand).
A target market segment, or target segment, is a group of potential customers for which
marketers should generally: - Answer- Develop a unique and uniquely desirable
marketing mix.
A cash cow is a branded product that enjoys a: - Answer- High market share of a low
growth market.
The act of market segmentation involves: - Answer- Subdividing larger markets into
smaller subsets.
Statement A: Many products feature a substantial service—or intangible—component.
Statement B: Many services feature a substantial product—or tangible—component. -
Answer- Statements A and B are each true.
What economics concept best describes describe the consequences that arise when
new types of technologies successful enter existing markets? - Answer- Creative
destruction
Each addresses motivation theories about consumer behavior - Answer- True
When marketers strategically choose to use nostalgia in their messages while
strategically pursuing customers whose ages end in 9 (29, 39, 49...) they are leveraging
the power of? - Answer- Targeting
Which of the following descriptions do not apply to perceptions? - Answer- Marketers
find it difficult to change customer perceptions.
Which asset contributes the most to marketing professionals' ability to produce
successful innovations? - Answer- Creativity
Anything (or anyone) that can solve customers' problems while generating profits for
organizations rightfully can be described as a: - Answer- Product
Which type of conditioning refers to the pairing of conditioned and unconditioned stimuli
and to the creation of learned responses as a result? - Answer- Classical Conditioning
