AMA Marketing Strategy 3

Question 1

In the product adoption curve, which group adopts an innovation just before the early majority?

Accepted Answer

Early adopters

Answer

Early adopters follow innovators and are opinion leaders who influence the early majority; crossing from early adopters to early majority is called 'crossing the chasm.'

Question 2

Which analytical tool plots a company's offerings based on market growth rate and relative market share?

Accepted Answer

BCG growth-share matrix

Answer

The BCG matrix categorizes business units or products into Stars, Cash Cows, Question Marks, and Dogs based on growth rate and relative market share.

Question 3

A marketer segments customers based on purchase frequency and spending level. This is an example of:

Accepted Answer

Behavioral segmentation

Answer

Behavioral segmentation divides customers based on usage patterns, purchase frequency, loyalty status, and spending behavior.

Question 4

The concept of 'positioning' in marketing strategy refers to:

Accepted Answer

How a brand is perceived relative to competitors in customers' minds

Answer

Positioning defines the distinct place a brand occupies in the target customer's mind relative to competing alternatives.

Question 5

Which growth strategy involves selling existing products to new market segments?

Accepted Answer

Market development

Answer

Market development (Ansoff matrix) targets new segments or geographies with existing products, expanding the customer base without changing the offering.

(AMA) American Marketing Association Certification Practice Test

(AMA) American Marketing Association Certification Practice Test

AMA Marketing Strategy 3