BUSM 2010 Final Verified Exam Questions and Answers Latest update
2026/2027
Question:
1. What are the 7 services marketing mix
Answer:
1. Product
2. Place
3. Price
4. Promotion
5. Physical Evidence
6. Processes
7. People
Question:
2. The glue that drives and holds together everything we Marketing Strategy do
Answer:
Question:
3. What are the 3 stages of marketing strategy
Answer:
1. Segmentation
2. Targeting
3. Positioning
Question:
4. Dividing potential customers in a market into different groups, within which customers share a
similar needs and seek similar benefits and are satisfied by a distinct marketing proposition......and
across which customers in different segments differ in needs and wants and responses
Answer:
Segmentation
Question:
5. Measuring attractiveness and selecting segments on which to focus
Answer:
Targeting
,Question:
6. Building relevant meaning of offer in consumers mind Positioning
Answer:
Question:
7. defines "role" of the product/brand in the prod- Positioning uct category and "scope" of offer in
terms of value proposition and relevant customers
Answer:
Question:
8. Why do we segment markets?
Answer:
Because we can't be all things to all people
Question:
9. What are the 5 Effective Segmentation Criteria
Answer:
1. Measurable
2. Substantial
3. Accessible
4. Differentiable
5. Actionable
Question:
10. What are the 4 Market Segmentation Bases
Answer:
1. Geographic
2. Psychographic
3. Demographic
4. Behavioral
Question:
11. Segmentation Base that refers to age, gender, life stage, income, social class
Answer:
Geographic/Demographic
,Question:
12. Segmentation base that refers to values, attitudes, life Psychographic styles, and things we do in
our spare time
Answer:
Question:
14. Behavioral Based Segmentation answers choose one option versus another based on
Answer:
they Why;Needs;Motivations and
Question:
15. Based on segmentation analysis geographic, demographic, and psychographic can be placed under
what category
Answer:
Consumer Characteristics
Question:
16. Based on segmentation analysis benefits, usage, needs, occasion, motivation can be placed under
what category
Answer:
Consumer responses
Question:
17. What are the 6 criteria for selecting target markets
Answer:
1. Compatibility with organizational goals
2. Competitive position
3. resource availability
4. Market Size (value)
5. Expected Growth
6. Cost to segment
Question:
18. Can show which spaces are busy (has a lot of competition) relative to what the consumers are
seeking
Answer:
Perceptual Maps
, Question:
19. Things a company does extremely well, which sometimes give it an advantage over its competition
Answer:
Core Competencies
Question:
20. A company has a core competency when when its and
Answer:
Hard to copy; and has competitive advantage
Question:
21. What are the 3 targeting strategies
Answer:
1. One product, one or
more market segments
2. Undifferentiated
3. Concentrated
Question:
22. When an organization produces only a single product One Product and Multiple or service and
attempts to sell it to two or more market segments, it avoids the extra costs of developing and
producing additional versions of the product.
Answer:
Market Segments
Question:
23. use one product and try to sell it to every/whole market where all consumers are alike
Answer:
Undifferentiated
Question:
24. Small company and just go after one segment, and you use your one product to go after one
segment
Answer:
Concentrated
2026/2027
Question:
1. What are the 7 services marketing mix
Answer:
1. Product
2. Place
3. Price
4. Promotion
5. Physical Evidence
6. Processes
7. People
Question:
2. The glue that drives and holds together everything we Marketing Strategy do
Answer:
Question:
3. What are the 3 stages of marketing strategy
Answer:
1. Segmentation
2. Targeting
3. Positioning
Question:
4. Dividing potential customers in a market into different groups, within which customers share a
similar needs and seek similar benefits and are satisfied by a distinct marketing proposition......and
across which customers in different segments differ in needs and wants and responses
Answer:
Segmentation
Question:
5. Measuring attractiveness and selecting segments on which to focus
Answer:
Targeting
,Question:
6. Building relevant meaning of offer in consumers mind Positioning
Answer:
Question:
7. defines "role" of the product/brand in the prod- Positioning uct category and "scope" of offer in
terms of value proposition and relevant customers
Answer:
Question:
8. Why do we segment markets?
Answer:
Because we can't be all things to all people
Question:
9. What are the 5 Effective Segmentation Criteria
Answer:
1. Measurable
2. Substantial
3. Accessible
4. Differentiable
5. Actionable
Question:
10. What are the 4 Market Segmentation Bases
Answer:
1. Geographic
2. Psychographic
3. Demographic
4. Behavioral
Question:
11. Segmentation Base that refers to age, gender, life stage, income, social class
Answer:
Geographic/Demographic
,Question:
12. Segmentation base that refers to values, attitudes, life Psychographic styles, and things we do in
our spare time
Answer:
Question:
14. Behavioral Based Segmentation answers choose one option versus another based on
Answer:
they Why;Needs;Motivations and
Question:
15. Based on segmentation analysis geographic, demographic, and psychographic can be placed under
what category
Answer:
Consumer Characteristics
Question:
16. Based on segmentation analysis benefits, usage, needs, occasion, motivation can be placed under
what category
Answer:
Consumer responses
Question:
17. What are the 6 criteria for selecting target markets
Answer:
1. Compatibility with organizational goals
2. Competitive position
3. resource availability
4. Market Size (value)
5. Expected Growth
6. Cost to segment
Question:
18. Can show which spaces are busy (has a lot of competition) relative to what the consumers are
seeking
Answer:
Perceptual Maps
, Question:
19. Things a company does extremely well, which sometimes give it an advantage over its competition
Answer:
Core Competencies
Question:
20. A company has a core competency when when its and
Answer:
Hard to copy; and has competitive advantage
Question:
21. What are the 3 targeting strategies
Answer:
1. One product, one or
more market segments
2. Undifferentiated
3. Concentrated
Question:
22. When an organization produces only a single product One Product and Multiple or service and
attempts to sell it to two or more market segments, it avoids the extra costs of developing and
producing additional versions of the product.
Answer:
Market Segments
Question:
23. use one product and try to sell it to every/whole market where all consumers are alike
Answer:
Undifferentiated
Question:
24. Small company and just go after one segment, and you use your one product to go after one
segment
Answer:
Concentrated
