MGT 103 FINAL EXAM COLLECTION 2025 COMPLETE 6 VERSIONS
EACH 85 QUESTIONS WITH VERIFIED CORRECT ANSWERS
Market segmentation involves aggregating prospective buyers into groups that have two key
characteristics, what are they? - (answers)common needs and similar response to marketing
action
in terms of market segments and products, what are the three market segmentation strategies? -
(answers)1 one product, multiple market segments
2 multiple products multiple segments
3 segments of one, aka mass customizaton
The process of segmenting and targeting markets is a bridge between which two marketing
activities? - (answers)identifying market needs and executing the marketing program
what is the difference between the demographic and behavioral bases of market segmentation -
(answers)demographic segmentation is based on some objective physical, measurable, or other
classification. Behavioral segmentation is based on some observable actions, where they buy,
what benefits they seek.
what factor is estimated or measured for each of the cells in a market-product grid -
(answers)each cell in the grid can show the estimated market size of a given product sold to a
specific market segmentation. 你是想要一篇“眼睛容易
阅读的”中文文章
what are some criteria used to decide which segment to choose for targets? - (answers)possible
criteria include market size, expected growth, competitive position, etc
How are marketing and product synergies different in a market-product grid? -
(answers)marketing synergies run horizontally across a market product grid. each row represents
an oppourtunity for efficiency in the marketing efforts to a market segment.
,what is the difference between product positioning and product repositioning - (answers)product
positions refers to the place a product occupies in consumers minds. product repositioning
involves changing the place a product occupies in a customers mind relative to competitors.
Why do marketers use perceptual maps in product positioning decisions? - (answers)perceptual
maps are a means of displaying in two dimensions the location of products or brands in the
minds of customers
80/20 rule - (answers)20% of users account for 80% of sales
Market Segmentation - (answers)the process of dividing a market into meaningful, relatively
similar, and identifiable segments or groups
usage rate - (answers)the quantity consumed or the number of store visits during a specific
period
what are the four main types of consumer products - (answers)They are: (1) convenience
products—items that the consumer purchases frequently, conveniently, and with a minimum of
shopping effort; (2) shopping products—items for which the consumer compares several
alternatives on criteria such as price, quality, or style; (3) specialty products—items that the
consumer makes a special effort to search out and buy; and (4) unsought products—items that
the consumer does not know about or knows about but does not initially want.
你是想要一篇“眼睛容易
what is the difference between a product line and a product mix - (answers)a product line is a
group of products or service items that are closely related because they satisfy a class of needs,
阅读的”中文文章
are used together, etc. a product mix is all of the products lines offered by an organization
What kind of innovation would an improved electric toothbrush be? - (answers)continuous
innovation - no new learning required by consumers
Why can an "insignificant point of difference" lead to new-product failure? - (answers)the
product must have superior characteristics that deliver unique benefits to the user compared to
those of competitors that must be sufficient enough to motivate a change in consumer behavior.
, what marketing metric might you use in a marketing dashboard to discover which states have
weak sales? - (answers)the marketing metric "annual percentage change in unit volume by state"
will help
what is the new product strategy development stage in the new product development process -
(answers)both SWOT analysis and environmental scanning to asses its strengths and weaknesses
what are the main sources of new product ideas? - (answers)1:employee and coworkers
suggestions
2:customer and supplier suggestion
3:r&d labs
4:analysis of competitors products
5: smaller tech firms
What is a test market, and what are the three kinds? - (answers)test marketing involves offering a
product for sale on a limited basis in a defined area for a specific time period
1) standard
2)controlled
3)simulated
what is the commercialization of a new product? - (answers)Commercialization, the most
expensive stage for most new products, is the last stage of the new-product process that involves
你是想要一篇“眼睛容易
positioning and launching a new product in full-scale production and sales.
阅读的”中文文章
idea generation - (answers)the systematic search for new product ideas
convenience products - (answers)items that the consumer purchases frequently, conveniently, and
with a minimum of shopping effort
shopping products - (answers)items for which the consumer compares several alternatives on
criteria such as price, quality, or style
EACH 85 QUESTIONS WITH VERIFIED CORRECT ANSWERS
Market segmentation involves aggregating prospective buyers into groups that have two key
characteristics, what are they? - (answers)common needs and similar response to marketing
action
in terms of market segments and products, what are the three market segmentation strategies? -
(answers)1 one product, multiple market segments
2 multiple products multiple segments
3 segments of one, aka mass customizaton
The process of segmenting and targeting markets is a bridge between which two marketing
activities? - (answers)identifying market needs and executing the marketing program
what is the difference between the demographic and behavioral bases of market segmentation -
(answers)demographic segmentation is based on some objective physical, measurable, or other
classification. Behavioral segmentation is based on some observable actions, where they buy,
what benefits they seek.
what factor is estimated or measured for each of the cells in a market-product grid -
(answers)each cell in the grid can show the estimated market size of a given product sold to a
specific market segmentation. 你是想要一篇“眼睛容易
阅读的”中文文章
what are some criteria used to decide which segment to choose for targets? - (answers)possible
criteria include market size, expected growth, competitive position, etc
How are marketing and product synergies different in a market-product grid? -
(answers)marketing synergies run horizontally across a market product grid. each row represents
an oppourtunity for efficiency in the marketing efforts to a market segment.
,what is the difference between product positioning and product repositioning - (answers)product
positions refers to the place a product occupies in consumers minds. product repositioning
involves changing the place a product occupies in a customers mind relative to competitors.
Why do marketers use perceptual maps in product positioning decisions? - (answers)perceptual
maps are a means of displaying in two dimensions the location of products or brands in the
minds of customers
80/20 rule - (answers)20% of users account for 80% of sales
Market Segmentation - (answers)the process of dividing a market into meaningful, relatively
similar, and identifiable segments or groups
usage rate - (answers)the quantity consumed or the number of store visits during a specific
period
what are the four main types of consumer products - (answers)They are: (1) convenience
products—items that the consumer purchases frequently, conveniently, and with a minimum of
shopping effort; (2) shopping products—items for which the consumer compares several
alternatives on criteria such as price, quality, or style; (3) specialty products—items that the
consumer makes a special effort to search out and buy; and (4) unsought products—items that
the consumer does not know about or knows about but does not initially want.
你是想要一篇“眼睛容易
what is the difference between a product line and a product mix - (answers)a product line is a
group of products or service items that are closely related because they satisfy a class of needs,
阅读的”中文文章
are used together, etc. a product mix is all of the products lines offered by an organization
What kind of innovation would an improved electric toothbrush be? - (answers)continuous
innovation - no new learning required by consumers
Why can an "insignificant point of difference" lead to new-product failure? - (answers)the
product must have superior characteristics that deliver unique benefits to the user compared to
those of competitors that must be sufficient enough to motivate a change in consumer behavior.
, what marketing metric might you use in a marketing dashboard to discover which states have
weak sales? - (answers)the marketing metric "annual percentage change in unit volume by state"
will help
what is the new product strategy development stage in the new product development process -
(answers)both SWOT analysis and environmental scanning to asses its strengths and weaknesses
what are the main sources of new product ideas? - (answers)1:employee and coworkers
suggestions
2:customer and supplier suggestion
3:r&d labs
4:analysis of competitors products
5: smaller tech firms
What is a test market, and what are the three kinds? - (answers)test marketing involves offering a
product for sale on a limited basis in a defined area for a specific time period
1) standard
2)controlled
3)simulated
what is the commercialization of a new product? - (answers)Commercialization, the most
expensive stage for most new products, is the last stage of the new-product process that involves
你是想要一篇“眼睛容易
positioning and launching a new product in full-scale production and sales.
阅读的”中文文章
idea generation - (answers)the systematic search for new product ideas
convenience products - (answers)items that the consumer purchases frequently, conveniently, and
with a minimum of shopping effort
shopping products - (answers)items for which the consumer compares several alternatives on
criteria such as price, quality, or style
