MAR3023 Exam 1 Review ACTUAL
QUESTIONS AND CORRECT ANSWERS
Types of Problem Solving - CORRECT ANSWER 1. Extended: All 5 stages, considerable
effort, external info, many alternatives evaluated.
2. Limited: Some info, maybe ask a friend. Several brands, more basic like what for lunch.
3. Routine: Low involvement, low effort. "buying milk"
Decision Making Process - CORRECT ANSWER 1. Problem Recognition
2. Information Search
3. Evaluate Alternatives
4. Purchase Decision
5. Post-Purchase Behavior (Cognitive Dissonance when anxious)
Sales Forecasting Techniques - CORRECT ANSWER 1. Judgments of the decision maker.
2. Surveys of knowledgeable groups
3. Statistical methods
Points of Difference - CORRECT ANSWER Unique/desirable brand features that differentiate
it from competitors
Points of Parity - CORRECT ANSWER Features/benefits that are similar/identical to
competitors in product category
Perceptual Map - CORRECT ANSWER displays, in two or more dimensions, the position of
products or brands in the consumer's mind
Market - CORRECT ANSWER Customers, those willing and able to buy.
1. Willing: Customer expectations/confidence
2. Ability: Income (Gross, Disposable, Discretionary)
, Customer Value Proposition - CORRECT ANSWER a cluster of benefits that an organization
promises customers to satisfy their needs
Decision making unit - CORRECT ANSWER information gatherer, influencer, decision maker,
purchaser, user, gatekeeper
Multicultural Marketing Programs - CORRECT ANSWER combinations of the marketing mix
that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races
Types of Sales Forecasting - CORRECT ANSWER 1. Sales Forecast: Total predicted sales in
specific environment
2. Direct Forecast: Value w/o intervening steps
3. Lost-Horse Forecast: Start w/ last known value, consider what could change it, make a guess
4. Survey of Buyer Intentions
5. Survey of Salespeople
Cause Marketing - CORRECT ANSWER Charitable contributions tied directly to the revenues
produced
Social Responsibility - CORRECT ANSWER 1. Profit Responsibility
2. Stakeholder Responsibility
3. Societal Responsibility
Organizational Buying Criteria - CORRECT ANSWER the objective attributes of the supplier's
products and services and the capabilities of the supplier itself
price, ability to meet quality, ability to meet delivery schedules, technical skills, history, capacity,
Types of Organizational Buyers - CORRECT ANSWER industrial markets, reseller markets,
government markets
Involvement - CORRECT ANSWER the personal, social, and economic significance of the
purchase to the consumer.
QUESTIONS AND CORRECT ANSWERS
Types of Problem Solving - CORRECT ANSWER 1. Extended: All 5 stages, considerable
effort, external info, many alternatives evaluated.
2. Limited: Some info, maybe ask a friend. Several brands, more basic like what for lunch.
3. Routine: Low involvement, low effort. "buying milk"
Decision Making Process - CORRECT ANSWER 1. Problem Recognition
2. Information Search
3. Evaluate Alternatives
4. Purchase Decision
5. Post-Purchase Behavior (Cognitive Dissonance when anxious)
Sales Forecasting Techniques - CORRECT ANSWER 1. Judgments of the decision maker.
2. Surveys of knowledgeable groups
3. Statistical methods
Points of Difference - CORRECT ANSWER Unique/desirable brand features that differentiate
it from competitors
Points of Parity - CORRECT ANSWER Features/benefits that are similar/identical to
competitors in product category
Perceptual Map - CORRECT ANSWER displays, in two or more dimensions, the position of
products or brands in the consumer's mind
Market - CORRECT ANSWER Customers, those willing and able to buy.
1. Willing: Customer expectations/confidence
2. Ability: Income (Gross, Disposable, Discretionary)
, Customer Value Proposition - CORRECT ANSWER a cluster of benefits that an organization
promises customers to satisfy their needs
Decision making unit - CORRECT ANSWER information gatherer, influencer, decision maker,
purchaser, user, gatekeeper
Multicultural Marketing Programs - CORRECT ANSWER combinations of the marketing mix
that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races
Types of Sales Forecasting - CORRECT ANSWER 1. Sales Forecast: Total predicted sales in
specific environment
2. Direct Forecast: Value w/o intervening steps
3. Lost-Horse Forecast: Start w/ last known value, consider what could change it, make a guess
4. Survey of Buyer Intentions
5. Survey of Salespeople
Cause Marketing - CORRECT ANSWER Charitable contributions tied directly to the revenues
produced
Social Responsibility - CORRECT ANSWER 1. Profit Responsibility
2. Stakeholder Responsibility
3. Societal Responsibility
Organizational Buying Criteria - CORRECT ANSWER the objective attributes of the supplier's
products and services and the capabilities of the supplier itself
price, ability to meet quality, ability to meet delivery schedules, technical skills, history, capacity,
Types of Organizational Buyers - CORRECT ANSWER industrial markets, reseller markets,
government markets
Involvement - CORRECT ANSWER the personal, social, and economic significance of the
purchase to the consumer.
