Title: Marketing Strategies and Plan
Course: Demo 1

Q: A firm’s strategic plan and its marketing plan both start with ________.
- social responsibility
- sales projections
- focus on customers
A: focus on customers

Q: ________ are the game plan a firm follows in order to accomplish what it sets out to do.
- Tactics
- Objectives
- Strategies
A: Strategies

Q: The results organizations want to achieve in a given time frame are their ________.
- strategies
- tactics
- objectives
A: objectives

Q: ________ are specific actions, methods and tools firms use to capitalize on market opportunities.
- Strategies
- Objectives
- Tactics
A: Tactics

Q: Which of the following are considered marketing tactics?
- a social media promotion
- a sporting event sponsorship
- a marketing plan
A: a social media promotion; a sporting event sponsorship

Q: Which type of strategy focuses on increasing sales of an existing product to existing customers?
- market development strategy
- diversification strategy
- market penetration strategy
A: market penetration strategy

Q: Which type of strategy focuses on entering new markets with existing products?
- market penetration strategy
- diversification strategy
- market development strategy
A: market development strategy

Q: Jake is the owner of a successful barbecue restaurant, and he also has a profitable business selling his bottled barbecue sauce. Responding to requests from customers, he is preparing to introduce another signature item, a bottled tangy marinade. With this approach, what type of strategy is Jake pursuing?
- market penetration strategy
- diversification strategy
- product development strategy
A: product development strategy

Q: When developing a marketing plan, what are key pieces of the plan marketers need to address?
- customer focus, product development and communicating value
- value chain, the exchange and evaluating performance
- diversification strategy, market penetration strategy and product development strategy
A: customer focus, product development and communicating value; value chain, the exchange and evaluating performance

Q: Alicia is the owner of a successful salon and day spa. Some of her clients have expressed concerns about chemicals in the beauty products used by the salon and spa. Alicia makes a strategic decision to go “natural” and “green” not only with the beauty products they use, but also with other business practices such as recycling, energy, and water conservation. She wants to incorporate these choices into how she markets and differentiates her business from competitors. Which marketing trend is Alicia addressing with this decision?
- social responsibility and metrics
- service-dominant logic and global environment
- sustainability and social responsibility
A: sustainability and social responsibility