MKT 315 EXAMS SCRIPT 2025/2026 QUESTIONS AND
SOLUTIONS MARKED A+
✔✔Five-Step Marketing Research Approach - ✔✔1. Define the problem
2. Develop the research plan
3. Collect relevant information
4. Develop findings
5. Take marketing actions
✔✔Define the problem - ✔✔set research objectives, identify possible marketing actions
✔✔Develop the research plan - ✔✔specify constraints, identify data needed for
marketing actions, determine how to collect data
✔✔collect relevant information - ✔✔Obtain secondary data; Obtain Primary Data; Use
Information technology and data mining
✔✔develop findings - ✔✔analyze the data, draw conclusions and present the findings
✔✔Take marketing actions - ✔✔make recommendations based on the findings,
implement actions based on those recommendations, and evaluate results.
✔✔Consumer buying behavior - ✔✔How and Why people buy products and service as
they do.
✔✔Factors Influencing Consumer Behavior - ✔✔1. Psychological : Learning, motivation,
perception, personality, attitude, lifestyle
2.Sociocultural : Family, social class, culture, subculture, reference groups
3. Economic : Consumer's income level, income of other members of family, liquid
assets, attitude toward spending
4. Personal : Family size and family life cycle, occupation, age, gender, income,
education
✔✔sociocultural influences - ✔✔Occur based on social interactions and include: Family,
Friends, Culture, Sub-culture, social class
✔✔Demographics - ✔✔Descriptors of humans and human populations
✔✔Generational Cohorts - ✔✔People born during the same period and who share
common life experiences.
✔✔Family Life Cycle - ✔✔Describes different stages based on household composition.
Ex) - Young singles-Married with young children-Empty nesters- Old married couples
Each stage has different buying patterns based on needs, wants, and learned behaviors
, ✔✔Situational Factors - ✔✔Arise at the time of the purchase that may affect the
purchase:
-Task
-Social Surroundings
-Physical Environment
-Temporal Effects
-Antecedent States
✔✔Stages of Purchasing Decisions - ✔✔1. Need recognition and problem awareness
2. Information Search
3. Evaluation of Alternatives
4. Purchase
5. Post-Purchase Evaluation
✔✔Need Identification - ✔✔Consumer recognizes a problem and decides to take action
to satisfy it.
✔✔Information Search - ✔✔Consumer will remember options based on past experience
or search for alternatives using some search criteria
✔✔Assessment of alternatives - ✔✔Consumer will use formal or informal criteria to
evaluate each option
✔✔Purchase decision - ✔✔Consumer will make an assessment of the relative value of
each option, decide on an option, and complete the transaction
✔✔post purchase behavior - ✔✔Consumer will reflect on a purchase and question
whether they made the best decision
✔✔Industrial Organizations - ✔✔Some 7.7 million firms in the United States that
purchase raw materials, equipment to manufacture a finished product, and other goods
and services to support these efforts. Support may include accounting, legal, or
consultation services.
✔✔Governmental Organizations - ✔✔Nearly 90,000 in the united states, include local,
village, and town offices to county and state offices to federal organizations.
✔✔Reseller Organizations - ✔✔Include wholesalers and retailers and total almost 2
million organizations
✔✔Organizational Purchasing - ✔✔Occurs when organizations purchase goods or
services in support of that organization's own output of goods and/or services and
differs from consumer buying
SOLUTIONS MARKED A+
✔✔Five-Step Marketing Research Approach - ✔✔1. Define the problem
2. Develop the research plan
3. Collect relevant information
4. Develop findings
5. Take marketing actions
✔✔Define the problem - ✔✔set research objectives, identify possible marketing actions
✔✔Develop the research plan - ✔✔specify constraints, identify data needed for
marketing actions, determine how to collect data
✔✔collect relevant information - ✔✔Obtain secondary data; Obtain Primary Data; Use
Information technology and data mining
✔✔develop findings - ✔✔analyze the data, draw conclusions and present the findings
✔✔Take marketing actions - ✔✔make recommendations based on the findings,
implement actions based on those recommendations, and evaluate results.
✔✔Consumer buying behavior - ✔✔How and Why people buy products and service as
they do.
✔✔Factors Influencing Consumer Behavior - ✔✔1. Psychological : Learning, motivation,
perception, personality, attitude, lifestyle
2.Sociocultural : Family, social class, culture, subculture, reference groups
3. Economic : Consumer's income level, income of other members of family, liquid
assets, attitude toward spending
4. Personal : Family size and family life cycle, occupation, age, gender, income,
education
✔✔sociocultural influences - ✔✔Occur based on social interactions and include: Family,
Friends, Culture, Sub-culture, social class
✔✔Demographics - ✔✔Descriptors of humans and human populations
✔✔Generational Cohorts - ✔✔People born during the same period and who share
common life experiences.
✔✔Family Life Cycle - ✔✔Describes different stages based on household composition.
Ex) - Young singles-Married with young children-Empty nesters- Old married couples
Each stage has different buying patterns based on needs, wants, and learned behaviors
, ✔✔Situational Factors - ✔✔Arise at the time of the purchase that may affect the
purchase:
-Task
-Social Surroundings
-Physical Environment
-Temporal Effects
-Antecedent States
✔✔Stages of Purchasing Decisions - ✔✔1. Need recognition and problem awareness
2. Information Search
3. Evaluation of Alternatives
4. Purchase
5. Post-Purchase Evaluation
✔✔Need Identification - ✔✔Consumer recognizes a problem and decides to take action
to satisfy it.
✔✔Information Search - ✔✔Consumer will remember options based on past experience
or search for alternatives using some search criteria
✔✔Assessment of alternatives - ✔✔Consumer will use formal or informal criteria to
evaluate each option
✔✔Purchase decision - ✔✔Consumer will make an assessment of the relative value of
each option, decide on an option, and complete the transaction
✔✔post purchase behavior - ✔✔Consumer will reflect on a purchase and question
whether they made the best decision
✔✔Industrial Organizations - ✔✔Some 7.7 million firms in the United States that
purchase raw materials, equipment to manufacture a finished product, and other goods
and services to support these efforts. Support may include accounting, legal, or
consultation services.
✔✔Governmental Organizations - ✔✔Nearly 90,000 in the united states, include local,
village, and town offices to county and state offices to federal organizations.
✔✔Reseller Organizations - ✔✔Include wholesalers and retailers and total almost 2
million organizations
✔✔Organizational Purchasing - ✔✔Occurs when organizations purchase goods or
services in support of that organization's own output of goods and/or services and
differs from consumer buying
