CMA CMA Marketing Strategy & Planning 2

Question 1

The 'marketing mix' traditionally refers to which set of four elements?

Accepted Answer

Product, Price, Place, Promotion

Answer

People, Process, Physical Evidence, Performance

Answer

Planning, Positioning, Profit, Promotion

Answer

Product, Profit, People, Place

Question 2

A 'blue ocean strategy' differs from a 'red ocean strategy' in that it:

Accepted Answer

Creates uncontested new market space rather than competing in existing markets

Answer

Focuses on lower prices than all competitors

Answer

Targets premium customer segments only

Answer

Relies exclusively on digital marketing channels

Question 3

Which concept describes the process of identifying a target market's perception of a product relative to competitors?

Accepted Answer

Positioning

Answer

Segmentation

Answer

Differentiation

Answer

Penetration

Question 4

A company sets prices based on what competitors charge rather than on its own costs or consumer demand. This is called:

Accepted Answer

Competitor-based pricing

Answer

Cost-plus pricing

Answer

Value-based pricing

Answer

Skimming pricing

Question 5

What is the primary purpose of a 'go-to-market' (GTM) strategy?

Accepted Answer

To define how a company will reach target customers and achieve competitive advantage when launching a product

Answer

To calculate the total addressable market for a product

Answer

To determine manufacturing costs for a new product

Answer

To plan the internal organizational structure for a product team

Question 6

In the product lifecycle, sales grow rapidly and profits peak during which stage?

Accepted Answer

Growth

Answer

Introduction

Answer

Maturity

Answer

Decline