MARK 3336 EXAM 1 (MIDTERM) REVIEW UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

MARK 3336 EXAM 1 (MIDTERM) REVIEW UPDATED
ACTUAL QUESTIONS AND CORRECT ANSWERS
Question:
MARK 3336 EXAM 1 (MIDTERM)
QUESTIONS AND CORRECT
What is the Ansoff Product/Market expansion
Is a framework for analyzing market trends
1
and consumer behavior.
Is a tool for evaluating competitive
3
advantages in the market.




Answer:

, REVIEW UPDATED ACTUAL
ANSWERS
grid?
Is a model for assessing supply chain
2
efficiency and logistics.
Is a table used to determine business
growth strategies and the risks associated
4
with them.

Question:
What is secondary data?
Answer:
Is information that already exists somewhere else, having been collected for
another purpose.

Question:
What is consumer buyer behavior?
Answer:
Is the buying behavior of final consumers, individuals, and households, who buy
goods and services for personal consumption.

Question:
What are factors/characteristics that influence consumer
buyer behavior?
Answer:
Cultural, Social, Personal, Psychological

Question:
What is business buying behavior?
Answer:
Refers to the buying behavior of the organizations that buy goods and services
for use in production of other products and services that are sold, rented, or
supplied.

Question:
What is International segmentation?
Answer:
It divides consumers into groups with similar needs and buying behaviors even
though they are located in different countries.

Question:
What are the requirements for effective segmentation?
Answer:
Market segments must be: Measurable, Accessible, Substantial, Differentiable, and
Actionable.