CMA CMA Marketing Strategy & Planning 1

Question 1

Which framework divides a market into four quadrants based on market growth rate and relative market share?

Accepted Answer

BCG Growth-Share Matrix

Answer

The BCG Growth-Share Matrix, developed by Boston Consulting Group, categorizes business units into Stars, Cash Cows, Question Marks, and Dogs based on growth rate and market share.

Question 2

A company using a 'market penetration' strategy according to the Ansoff Matrix is focused on:

Accepted Answer

Selling existing products to existing markets

Answer

Market penetration in the Ansoff Matrix involves increasing sales of current products within existing markets, typically through competitive pricing or increased promotion.

Question 3

What does STP stand for in marketing strategy?

Accepted Answer

Segmentation, Targeting, Positioning

Answer

STP is a three-step marketing framework: Segmentation (dividing the market), Targeting (selecting segments), and Positioning (creating a distinct image in consumers' minds).

Question 4

Which competitive strategy, as defined by Michael Porter, focuses on being the lowest-cost producer in an industry?

Accepted Answer

Cost Leadership

Answer

Porter's Cost Leadership strategy aims to achieve the lowest production and distribution costs in the industry, enabling a company to compete on price.

Question 5

In strategic marketing planning, a 'SMART' objective must be Specific, Measurable, Achievable, Relevant, and:

Accepted Answer

Time-bound

Answer

SMART objectives must be Time-bound, meaning they have a clear deadline or timeframe for achieving the goal.

(CMA) Certified Market Analyst Practice Test

(CMA) Certified Market Analyst Practice Test

CMA CMA Marketing Strategy & Planning 1