Strategic Marketing and Planning Flashcards
7 cards from real CMP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Strategic Marketing and Planning flashcards as text
Which framework helps marketers evaluate the attractiveness of a market segment by examining market size, growth rate, competitive intensity, and profitability?
Answer: Market Attractiveness-Business Strength Matrix
The Market Attractiveness-Business Strength Matrix (GE-McKinsey Matrix) evaluates segments on market attractiveness and competitive strength dimensions.
A company discovers that its primary customer segment has shifted from baby boomers to millennials. Which planning step should the marketing team prioritize first?
Answer: Updating the customer persona and segmentation analysis
Updating the customer persona and segmentation analysis is the foundational step before any tactical changes can be effectively made.
In strategic marketing planning, what does the term 'sustainable competitive advantage' mean?
Answer: An advantage that can be maintained over time despite competitor actions
A sustainable competitive advantage is a long-term edge over competitors that is difficult to replicate or neutralize.
Which of the following best describes a 'market penetration' strategy in the Ansoff Matrix?
Answer: Selling existing products to existing markets
Market penetration involves increasing sales of existing products within existing markets, typically through promotions or pricing.
A brand's 'positioning statement' should primarily communicate which of the following?
Answer: How the brand is distinct and valuable to its target customer
A positioning statement articulates the unique value a brand offers to a specific target audience and how it differs from competitors.
When conducting a competitive analysis, which of the following is considered an example of 'indirect competition'?
Answer: A movie theater competing with a streaming service
Indirect competitors satisfy the same customer need through different products or services, like streaming vs. in-theater entertainment.
Which type of organizational structure is most commonly aligned with a market-oriented marketing strategy where departments are organized around customer segments?
Answer: Market-based structure
A market-based structure organizes teams around specific customer segments, enabling a more customer-centric approach.