CMA Marketing Strategy & Planning Flashcards
6 cards from real CMA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 CMA Marketing Strategy & Planning flashcards as text
The 'marketing mix' traditionally refers to which set of four elements?
Answer: Product, Price, Place, Promotion
The traditional 4Ps marketing mix consists of Product, Price, Place, and Promotion, forming the foundation of any marketing strategy.
A 'blue ocean strategy' differs from a 'red ocean strategy' in that it:
Answer: Creates uncontested new market space rather than competing in existing markets
Blue Ocean Strategy, coined by Kim and Mauborgne, involves creating new demand in uncontested market space rather than fighting over existing customers in saturated markets.
Which concept describes the process of identifying a target market's perception of a product relative to competitors?
Answer: Positioning
Positioning defines how a brand or product is perceived in the minds of the target audience relative to competing products.
A company sets prices based on what competitors charge rather than on its own costs or consumer demand. This is called:
Answer: Competitor-based pricing
Competitor-based (or competition-based) pricing sets prices primarily by referencing what rival companies charge for similar products.
What is the primary purpose of a 'go-to-market' (GTM) strategy?
Answer: To define how a company will reach target customers and achieve competitive advantage when launching a product
A GTM strategy outlines the plan for delivering a product to market, including target audience, value proposition, sales approach, and distribution channels.
In the product lifecycle, sales grow rapidly and profits peak during which stage?
Answer: Growth
During the Growth stage, sales increase rapidly as adoption spreads, and profits peak before competition intensifies and margins compress in the Maturity stage.