Marketing Advice Marketing Strategy 3 — Questions and Answers
Question 1: What is the main goal of a competitive analysis in marketing strategy?
- To copy a competitor's products exactly
- To understand competitor strengths, weaknesses, and positioning to find differentiation opportunities (Correct answer)
- To report competitors to regulatory bodies
- To set identical pricing to competitors
Correct answer: To understand competitor strengths, weaknesses, and positioning to find differentiation opportunities
Competitive analysis reveals gaps and opportunities so a brand can position itself distinctly in the market.
Question 2: A company sells the same product in both the US and Japan but adjusts messaging, packaging, and pricing for each market. This approach is called:
- Standardization strategy
- Glocalization strategy (Correct answer)
- Niche marketing
- Mass marketing
Correct answer: Glocalization strategy
Glocalization adapts a global product to local cultural, regulatory, and consumer preferences.
Question 3: Which stage of the product life cycle typically sees the highest marketing spend relative to revenue?
- Maturity
- Decline
- Introduction (Correct answer)
- Growth
Correct answer: Introduction
During introduction, heavy marketing investment is required to build awareness with little revenue to offset costs.
Question 4: A retailer sends targeted discount coupons only to customers who haven't purchased in 90 days. This tactic is an example of:
- Acquisition marketing
- Win-back (re-engagement) marketing (Correct answer)
- Upsell marketing
- Advocacy marketing
Correct answer: Win-back (re-engagement) marketing
Win-back campaigns specifically target lapsed customers to reactivate them with incentives.
Question 5: What does 'share of voice' (SOV) measure in a competitive marketing context?
- Customer satisfaction scores relative to competitors
- A brand's advertising spend or mentions as a percentage of the total market (Correct answer)
- The number of social media followers compared to rivals
- Product quality ratings versus competitors
Correct answer: A brand's advertising spend or mentions as a percentage of the total market
Share of voice tracks how much of the total industry conversation or ad spend belongs to your brand.
Question 6: Which framework helps marketers identify internal strengths and weaknesses alongside external opportunities and threats?
- Porter's Five Forces
- SWOT Analysis (Correct answer)
- Ansoff Matrix
- BCG Growth-Share Matrix
Correct answer: SWOT Analysis
SWOT Analysis organizes internal (S, W) and external (O, T) factors to guide strategic decisions.
Question 7: A luxury brand deliberately limits distribution to a small number of exclusive retailers. What is the strategic rationale?
- To reduce logistics costs
- To preserve brand exclusivity and reinforce premium positioning (Correct answer)
- To comply with antitrust regulations
- To test new retail formats before wider rollout
Correct answer: To preserve brand exclusivity and reinforce premium positioning
Selective distribution supports a luxury brand's image by associating it only with prestigious, curated environments.
Marketing Advice Marketing Strategy 3
What is the main goal of a competitive analysis in marketing strategy?