MARKETING 201 - FINAL EXAM QUESTIONS WITH
ACCURATE ANSWERS
Analysis of Variance correct answer QUANTITATIVE
Looking for averages that differ more than expected
BCG Growth Model correct answer
Benefits of Intermediaries correct answer
Brand Champions correct answer Customers who love the firm's products and
then advocate or champion the products to others.
Buying Center correct answer Group of individuals that consists of all members
involved in any way in a buying decision
Buying Process correct answer A series of steps a customer goes through when
making a purchase
Cluster Analysis correct answer QUANTITATIVE
Classifies respondents into groups based on similarities to segment the market
Competitive Angle correct answer - Unique or different
- Lifts consumer over a hurdle
- Makes a personal connection
, Conjoint Analysis correct answer Deconstructs products into component
attributes, estimates value of each component attribute, reconstructs existing and
potential product to allow estimated value of each product.
Consumer Behavior correct answer The process a consumer uses to make
purchase decisions as well as to use and dispose of the product
Consumer Insights correct answer Accurate, deep, and intuitive understanding of
a consumer including what motivates them to take action
Consumer Lifetime Value correct answer Approximate worth of a customer to a
company in economic terms; overall profitability of an individual consumer
Cross Tabs Analysis correct answer QUALITATIVE
Frequency counts, conditions, attitudes, and/or behaviors that occur most often
Customization correct answer Marketing a product tailored to the individual
market.
Data Exploration correct answer Discovery through numerical summaries of data
and visualizations
Data Modeling correct answer Transform data to extract insights
Data Wangling correct answer Cleaning, unifying, and preparing unorganized data
for easy analysis
ACCURATE ANSWERS
Analysis of Variance correct answer QUANTITATIVE
Looking for averages that differ more than expected
BCG Growth Model correct answer
Benefits of Intermediaries correct answer
Brand Champions correct answer Customers who love the firm's products and
then advocate or champion the products to others.
Buying Center correct answer Group of individuals that consists of all members
involved in any way in a buying decision
Buying Process correct answer A series of steps a customer goes through when
making a purchase
Cluster Analysis correct answer QUANTITATIVE
Classifies respondents into groups based on similarities to segment the market
Competitive Angle correct answer - Unique or different
- Lifts consumer over a hurdle
- Makes a personal connection
, Conjoint Analysis correct answer Deconstructs products into component
attributes, estimates value of each component attribute, reconstructs existing and
potential product to allow estimated value of each product.
Consumer Behavior correct answer The process a consumer uses to make
purchase decisions as well as to use and dispose of the product
Consumer Insights correct answer Accurate, deep, and intuitive understanding of
a consumer including what motivates them to take action
Consumer Lifetime Value correct answer Approximate worth of a customer to a
company in economic terms; overall profitability of an individual consumer
Cross Tabs Analysis correct answer QUALITATIVE
Frequency counts, conditions, attitudes, and/or behaviors that occur most often
Customization correct answer Marketing a product tailored to the individual
market.
Data Exploration correct answer Discovery through numerical summaries of data
and visualizations
Data Modeling correct answer Transform data to extract insights
Data Wangling correct answer Cleaning, unifying, and preparing unorganized data
for easy analysis
