B. Business & Marketing Marketing
Management (Johnston & Marshall) –
Strategic Review Guide 2025/2026
B. Business & Marketing: Marketing Management (Johnston & Marshall) – Strategic Review
Guide 2025/2026
Part 1: The Strategic Marketing Framework (Questions 1-20)
1. What is the primary purpose of a company's mission statement?
a) To list its products and services
b) To define its core purpose, values, and scope of operations ✓
c) To state its annual financial targets
d) To describe its marketing mix
2. According to modern marketing thought, the "Marketing Concept" is best defined as:
a) A philosophy focused on aggressive promotion and sales.
b) A philosophy focused on maximizing production efficiency.
c) A customer-centric philosophy that aims to achieve organizational goals by creating superior
customer value and satisfaction. ✓
d) A philosophy focused on short-term profit maximization.
3. In a SWOT analysis, a new government regulation that limits raw material imports would be
classified as a(n):
a) Strength
b) Weakness
c) Opportunity
d) Threat ✓
4. The BCG Growth-Share Matrix classifies a business unit with low market share in a high-
growth market as a:
a) Cash Cow
b) Star
c) Question Mark ✓
d) Dog
5. Which of the following is a key component of an effective marketing plan?
a) A detailed situation analysis ✓
,b) The CEO's personal biography
c) A list of all employees
d) The company's stock price history
6. The process of dividing a market into distinct groups of buyers with different needs is
called:
a) Targeting
b) Positioning
c) Segmentation ✓
d) Differentiation
7. A company that chooses to target several market segments and designs separate offers for
each is using a(n) ________ targeting strategy.
a) Undifferentiated
b) Differentiated ✓
c) Concentrated
d) Micromarketing
8. The goal of positioning is to:
a) Occupy a clear, distinctive, and desirable place in the minds of target customers relative to
competing products. ✓
b) Secure the cheapest shelf space in retail stores.
c) Have the highest price in the product category.
d) Change the product's features weekly.
9. Which of the following is NOT part of the marketing mix (the 4 Ps)?
a) Product
b) Price
c) Promotion
d) People ✓
10. The Ansoff Matrix strategy of selling new products to existing markets is known as:
a) Market Penetration
b) Market Development
c) Product Development ✓
d) Diversification
11. Customer Lifetime Value (CLV) is primarily concerned with:
a) The cost of acquiring a single customer.
b) The total profit a company can expect to earn from a customer over the entire relationship. ✓
,c) The price of a single transaction.
d) A customer's credit score.
12. The internal value chain includes all of the following EXCEPT:
a) Inbound Logistics
b) Marketing & Sales
c) Technology Development
d) Competitor's pricing strategy ✓
13. A VRIO framework analysis is used to evaluate a firm's:
a) Financial liquidity
b) Internal resources and capabilities for sustainable competitive advantage. ✓
c) Customer satisfaction levels
d) Advertising effectiveness
14. The strategic business unit (SBU) of a large corporation should:
a) Have its own independent mission and competitors. ✓
b) Rely entirely on the corporate parent for all marketing functions.
c) Always use the same brand name as the parent company.
d) Focus solely on cost-cutting.
15. Porter's Generic Strategies suggest that a company can achieve competitive advantage
through:
a) Cost leadership, differentiation, or focus. ✓
b) Only through having the lowest price.
c) Only through having the highest quality.
d) Imitating the market leader.
16. The "Value Proposition" is a statement that:
a) Summarizes the company's financial projections.
b) Articulates the unique benefits and value a brand delivers to meet a customer's needs. ✓
c) Lists all the features of a product.
d) Is used only for internal communication.
17. In the context of strategic planning, "SMART" goals are:
a) Simple, Manageable, Achievable, Realistic, Timely
b) Specific, Measurable, Achievable, Relevant, Time-bound ✓
c) Strategic, Market-based, Action-oriented, Reliable, Tested
d) Sales-focused, Monetary, Aggressive, Risky, Tough
, 18. A company focusing on "Market Development" in the Ansoff Matrix would:
a) Sell more existing products to existing markets.
b) Sell existing products to new market segments or geographical areas. ✓
c) Sell new products to existing markets.
d) Sell new products to new markets.
19. The primary difference between a strategy and a tactic is that strategy is the ________,
while tactics are the ________.
a) "What," "Why"
b) "How," "What"
c) "Why," "How"
d) "Big picture" plan, specific actions to execute the plan ✓
20. Corporate social responsibility (CSR) in a marketing context is increasingly important
because it:
a) Is a mandatory legal requirement.
b) Can build brand loyalty and trust among ethically-conscious consumers. ✓
c) Always reduces short-term costs.
d) Guarantees an increase in market share.
Part 2: Understanding the Market & Customers (Questions 21-40)
21. The set of all actual and potential buyers of a product or service is known as a(n):
a) Audience
b) Segment
c) Market ✓
d) Industry
22. Secondary data, as opposed to primary data, is:
a) Less important.
b) Data that already exists, having been collected for another purpose. ✓
c) Data collected specifically for the current research project.
d) Always qualitative in nature.
23. A research method that involves gathering data from a group of people through a
structured conversation is a:
a) Survey
b) Focus group ✓
Management (Johnston & Marshall) –
Strategic Review Guide 2025/2026
B. Business & Marketing: Marketing Management (Johnston & Marshall) – Strategic Review
Guide 2025/2026
Part 1: The Strategic Marketing Framework (Questions 1-20)
1. What is the primary purpose of a company's mission statement?
a) To list its products and services
b) To define its core purpose, values, and scope of operations ✓
c) To state its annual financial targets
d) To describe its marketing mix
2. According to modern marketing thought, the "Marketing Concept" is best defined as:
a) A philosophy focused on aggressive promotion and sales.
b) A philosophy focused on maximizing production efficiency.
c) A customer-centric philosophy that aims to achieve organizational goals by creating superior
customer value and satisfaction. ✓
d) A philosophy focused on short-term profit maximization.
3. In a SWOT analysis, a new government regulation that limits raw material imports would be
classified as a(n):
a) Strength
b) Weakness
c) Opportunity
d) Threat ✓
4. The BCG Growth-Share Matrix classifies a business unit with low market share in a high-
growth market as a:
a) Cash Cow
b) Star
c) Question Mark ✓
d) Dog
5. Which of the following is a key component of an effective marketing plan?
a) A detailed situation analysis ✓
,b) The CEO's personal biography
c) A list of all employees
d) The company's stock price history
6. The process of dividing a market into distinct groups of buyers with different needs is
called:
a) Targeting
b) Positioning
c) Segmentation ✓
d) Differentiation
7. A company that chooses to target several market segments and designs separate offers for
each is using a(n) ________ targeting strategy.
a) Undifferentiated
b) Differentiated ✓
c) Concentrated
d) Micromarketing
8. The goal of positioning is to:
a) Occupy a clear, distinctive, and desirable place in the minds of target customers relative to
competing products. ✓
b) Secure the cheapest shelf space in retail stores.
c) Have the highest price in the product category.
d) Change the product's features weekly.
9. Which of the following is NOT part of the marketing mix (the 4 Ps)?
a) Product
b) Price
c) Promotion
d) People ✓
10. The Ansoff Matrix strategy of selling new products to existing markets is known as:
a) Market Penetration
b) Market Development
c) Product Development ✓
d) Diversification
11. Customer Lifetime Value (CLV) is primarily concerned with:
a) The cost of acquiring a single customer.
b) The total profit a company can expect to earn from a customer over the entire relationship. ✓
,c) The price of a single transaction.
d) A customer's credit score.
12. The internal value chain includes all of the following EXCEPT:
a) Inbound Logistics
b) Marketing & Sales
c) Technology Development
d) Competitor's pricing strategy ✓
13. A VRIO framework analysis is used to evaluate a firm's:
a) Financial liquidity
b) Internal resources and capabilities for sustainable competitive advantage. ✓
c) Customer satisfaction levels
d) Advertising effectiveness
14. The strategic business unit (SBU) of a large corporation should:
a) Have its own independent mission and competitors. ✓
b) Rely entirely on the corporate parent for all marketing functions.
c) Always use the same brand name as the parent company.
d) Focus solely on cost-cutting.
15. Porter's Generic Strategies suggest that a company can achieve competitive advantage
through:
a) Cost leadership, differentiation, or focus. ✓
b) Only through having the lowest price.
c) Only through having the highest quality.
d) Imitating the market leader.
16. The "Value Proposition" is a statement that:
a) Summarizes the company's financial projections.
b) Articulates the unique benefits and value a brand delivers to meet a customer's needs. ✓
c) Lists all the features of a product.
d) Is used only for internal communication.
17. In the context of strategic planning, "SMART" goals are:
a) Simple, Manageable, Achievable, Realistic, Timely
b) Specific, Measurable, Achievable, Relevant, Time-bound ✓
c) Strategic, Market-based, Action-oriented, Reliable, Tested
d) Sales-focused, Monetary, Aggressive, Risky, Tough
, 18. A company focusing on "Market Development" in the Ansoff Matrix would:
a) Sell more existing products to existing markets.
b) Sell existing products to new market segments or geographical areas. ✓
c) Sell new products to existing markets.
d) Sell new products to new markets.
19. The primary difference between a strategy and a tactic is that strategy is the ________,
while tactics are the ________.
a) "What," "Why"
b) "How," "What"
c) "Why," "How"
d) "Big picture" plan, specific actions to execute the plan ✓
20. Corporate social responsibility (CSR) in a marketing context is increasingly important
because it:
a) Is a mandatory legal requirement.
b) Can build brand loyalty and trust among ethically-conscious consumers. ✓
c) Always reduces short-term costs.
d) Guarantees an increase in market share.
Part 2: Understanding the Market & Customers (Questions 21-40)
21. The set of all actual and potential buyers of a product or service is known as a(n):
a) Audience
b) Segment
c) Market ✓
d) Industry
22. Secondary data, as opposed to primary data, is:
a) Less important.
b) Data that already exists, having been collected for another purpose. ✓
c) Data collected specifically for the current research project.
d) Always qualitative in nature.
23. A research method that involves gathering data from a group of people through a
structured conversation is a:
a) Survey
b) Focus group ✓
