MKT 3401 LEDET FINAL EXAM UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
1. What are the criteria for effective segmentation?
Answer:
Identification, responsive, substantial, accessible
Question:
2. Which of the following is not a strategy for target marketing?
A. Niche
B. Mass market
C. Multi-segmentation
D. Geodemographic
Answer:
Geodemographic
Question:
3. Segmenting markets on the basis of personality, motives, lifestyles, and geodemographics is called:
Answer:
Psychographic segmentation
Question:
4. The 80/20 principle states that:
Answer:
20% of customers generate 80% of the demand
Question:
5. What are the factors to be considered when positioning a product?
Answer:
Attributes, benefits, communication of value
Question:
6. Which of the following is not a part of strategy development. Select one:
A. Marketing
B. Targeting
C. Segmentation
D. Positioning
Answer:
Marketing
Question:
7. The process of planning, collecting, and analyzing data relevant to a marketing decision is called:
Answer:
Marketing research
, Question:
8. A focus group consists of:
Answer:
7-10 people participating in a group discussion lead by a moderator
Question:
9. Which company adopted a niche market when launching their product? Select one:
A. Ray-Ban
B. Yeti
C. Honda
D. Under Armour
Answer:
Yeti
Question:
10. Which segments have the NFL been targeting the past few years?
Answer:
Women and children
Question:
11. Which pricing tactic is often used by movie theaters?
Answer:
Price discrimination
Question:
12. Which is not a part of the marketing mix?
Answer:
Perception
Question:
13. Which of the following is not one of the components of a product? Select one:
A. Brand
B. Package
C. Warranty
D. Price
Answer:
Price (Brand, Package, and Warranty make up product)
Question:
14. The set of activities directly related to the sales of goods to the consumer for personal use is called:
Answer:
Retailing
Question:
15. What is not a level of the Marketing Strategy Framework?
QUESTIONS AND CORRECT ANSWERS
Question:
1. What are the criteria for effective segmentation?
Answer:
Identification, responsive, substantial, accessible
Question:
2. Which of the following is not a strategy for target marketing?
A. Niche
B. Mass market
C. Multi-segmentation
D. Geodemographic
Answer:
Geodemographic
Question:
3. Segmenting markets on the basis of personality, motives, lifestyles, and geodemographics is called:
Answer:
Psychographic segmentation
Question:
4. The 80/20 principle states that:
Answer:
20% of customers generate 80% of the demand
Question:
5. What are the factors to be considered when positioning a product?
Answer:
Attributes, benefits, communication of value
Question:
6. Which of the following is not a part of strategy development. Select one:
A. Marketing
B. Targeting
C. Segmentation
D. Positioning
Answer:
Marketing
Question:
7. The process of planning, collecting, and analyzing data relevant to a marketing decision is called:
Answer:
Marketing research
, Question:
8. A focus group consists of:
Answer:
7-10 people participating in a group discussion lead by a moderator
Question:
9. Which company adopted a niche market when launching their product? Select one:
A. Ray-Ban
B. Yeti
C. Honda
D. Under Armour
Answer:
Yeti
Question:
10. Which segments have the NFL been targeting the past few years?
Answer:
Women and children
Question:
11. Which pricing tactic is often used by movie theaters?
Answer:
Price discrimination
Question:
12. Which is not a part of the marketing mix?
Answer:
Perception
Question:
13. Which of the following is not one of the components of a product? Select one:
A. Brand
B. Package
C. Warranty
D. Price
Answer:
Price (Brand, Package, and Warranty make up product)
Question:
14. The set of activities directly related to the sales of goods to the consumer for personal use is called:
Answer:
Retailing
Question:
15. What is not a level of the Marketing Strategy Framework?
