CMP Strategic Marketing and Planning 3

Question 1

Which metric is most directly used to measure the return on marketing investment (ROMI)?

Accepted Answer

Incremental revenue attributable to marketing divided by marketing spend

Answer

ROMI is calculated by dividing the incremental revenue generated by marketing activities by the cost of those activities.

Question 2

A company operating in a highly commoditized market decides to differentiate through superior customer service. This is an example of which differentiation strategy?

Accepted Answer

Service differentiation

Answer

Service differentiation focuses on delivering superior service experiences as the primary basis for distinguishing from competitors.

Question 3

In strategic planning, a 'stretch goal' differs from a standard objective primarily because it:

Accepted Answer

Pushes performance beyond what is considered easily achievable

Answer

Stretch goals challenge organizations to achieve performance levels beyond their current capabilities, driving innovation and breakthrough thinking.

Question 4

Which of the following best describes 'flanking strategy' in competitive marketing?

Accepted Answer

Targeting underserved segments or geographic areas the leader ignores

Answer

Flanking strategy involves attacking competitors in market segments they have ignored or underserved, avoiding direct confrontation.

Question 5

A marketing plan's 'situation analysis' typically concludes with which tool that summarizes internal and external factors?

Accepted Answer

SWOT analysis

Answer

SWOT analysis synthesizes the situation analysis by identifying Strengths, Weaknesses, Opportunities, and Threats facing the organization.

(CMP) Certified Marketing Professional Practice Test

(CMP) Certified Marketing Professional Practice Test

CMP Strategic Marketing and Planning 3