Mark 3336 Final Exam Questions Answered Correctly Latest Update 2026

MARK 3336 FINAL EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Perceptual Positioning Maps - Answers Show consumer perceptions of their brands versus those of competing products on important buying dimensions Cash Cows - Answers Low market growth and high market share - Profitable products - Generate more cash than needed for share maintenance - Slow sales growth - Need less investment to hold their market share - Can finance question marks and stars Differentiation - Answers Distinguishing firm's market offering Social Marketing - Answers The use of traditional business marketing concepts and tools to encourage behavior that will create individual and societal well-being - Health care, education, environmental sustainability, human rights, and personal safety Straight Rebuy - Answers Buyer reorders something without any modifications Modified Rebuy - Answers The buyer wants to modify product specifications, prices, terms, or suppliers New Task - Answers Buying a product or service for the first time Product/Market Expansion Grid - Answers - Present Products and Present Customers: Market Penetration - New Products and Present Customers: Product development - Present Products and New Customers: Market development - New Products and New Customers: Diversification Accessible - Answers Markets that can be effectively reached and served First Step of Strategic Planning - Answers Defining the company mission Strategic Planning - Answers The process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing market opportunities Second Step of Strategic Planning - Answers Setting company objectives and goals Third Step of Strategic Planning - Answers Designing the business portfolio Fourth Step of Strategic Planning - Answers Planning marketing and other functional strategies Competitive Advantage - Answers The extent that a company can differentiate and position itself as providing superior customer value Descriptive Research - Answers Marketing research to better describe marketing problems, situations or markets, such as the market potential for a product or the demographics and attitudes of consumers Exploratory Research - Answers Marketing research to gather preliminary information that will help define problems and suggest hypotheses Ethnographic Research - Answers A form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments" Observational Research - Answers Gathering primary data by observing relevant people, actions and situations Experimental Research - Answers Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses Survey Research - Answers Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior Online Marketing Research - Answers Collecting primary data through internet and mobile surveys, online focus groups, consumer tracking, experiments and online panels and brand communities Causal Research - Answers Marketing research to test hypotheses about cause-and-effect relationships Market Segmentation - Answers Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes Psychographic Segmentation - Answers Divides buyers into different segments based on lifestyle or personality characteristics Behavioral Segmentation - Answers Divides buyers into segments based on their knowledge, attitudes, uses or responses to a product Occasion Segmentation - Answers Dividing the market into segments according to occasions when buyers get to the idea to buy, actually make their purchase, or use the purchased item Benefit Segmentation - Answers Dividing the market into segments according to the different benefits that consumers seek from the product Lifestyle - Answers A person's pattern of living as expressed in his or her activities, interests and opinions Culture - Answers The set of basic values, perceptions, wants and behaviors learned by a member of society from family and other important institutions Motive (Drive) - Answers A need that is sufficiently pressing to direct the person to seek satisfaction of the need Personality - Answers The unique psychological characteristics that distinguish a person or group Social Class - Answers Relatively permanent and ordered divisions in a society whose members share similar values, interests and behaviors Business Purchases - Answers Involves more professional purchasing effort than consumer purchases Segment is Less Attractive - Answers If it already contains many strong and aggressive competitors Mission Statement - Answers The organization's purpose, what it wants to accomplish in the larger environment Vision Statement - Answers Depicts the company's aspiration for the future position of the company Consumer Buying Behavior - Answers The buying behavior of final consumers - individuals and households that buy goods and services for personal consumption Business Buying Behavior - Answers The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others Complex Buying Behavior - Answers Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands Dissonance-Reducing Buying Behavior - Answers Consumer buying behavior in situations characterized by high involvement but few perceived differences among brands Habitual Buying Behavior - Answers Consumer buying behavior in situations characterized by low consumer involvement and few significant perceived brand differences Variety-Seeking Buying Behavior - Answers Consumer buying behavior in situations characterized by low consumer involvement but significant perceived brand differences Physiological Needs (1st Maslow) - Answers Hunger, thirst Safety Needs (2nd Maslow) - Answers Security, protection Social Needs (3rd Maslow) - Answers Sense of belonging, love Esteem Needs (4th Maslow) - Answers Self-esteem, recognition, status Self-Actualization Needs (5th Maslow) - Answers Self-development and realization Capital Items - Answers Another term for large, expensive industrial products Positioning - Answers Arranging for a market offering to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers Positioning Statement - Answers To (target segment and need) our (brand) is (concept) that (point of difference) Online Privacy Issues - Answers The most prevalent worry for internet marketing Derived Demand - Answers Business demand that ultimately comes from the demand for consumer goods Users (Buying Center) - Answers Members of the organization who will use the product or service Influencers - Answers People in an organization's buying center who affect the buying decision; they often help define specifications and also provide information for evaluating alternatives Buyers - Answers People in an organization's buying center who make an actual purchase Deciders - Answers People in an organization's buying center who have formal or informal power to select or approve the final suppliers Gatekeepers - Answers People in an organization's buying center who control the flow of information to others Internal Databases - Answers Can be accessed more quickly and cheaply than other info sources Consumer Product - Answers A product bought by final consumers for personal consumption Convenience Product - Answers A consumer product that customers usually buy frequently, immediately and with minimal comparison and buying effort Shopping Product - Answers A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price and style