UAB BUS 102 - TEST 3 CHAPTERS 11, 12, 13, 15,
AND 17 (ELIZABETH TURNBULL) QUESTIONS
AND ANSWERS LATEST 2025-2026 EXAM
UPDATE
Marketing Plan - Answer-A formal document that defines marketing
objectives and the specific strategies for achieving those objectives
Market Segmentation - Answer-dividing potential customers into
groups of similar people, or segments
Target Market - Answer-The group of people who are most likely to
buy a particular product
Consumer Marketers - Answer-also known as business-to-consumer or
B2C; marketers who direct their efforts toward people who are buying
products for personal consumption
Business Marketers - Answer-also known as business-to-business or
B2B; marketers who direct their efforts toward people who are buying
products to use either directly or indirectly to produce other products
Demographic Segmentation - Answer-dividing the market into smaller
groups based on measurable characteristics about people, such as age,
income, ethnicity, and gender
, Geographic Segmentation - Answer-dividing the market into smaller
groups based on where consumers live. This process can incorporate
countries, cities, or population density as key factors
Psychographic Segmentation - Answer-dividing the market into smaller
groups based on consumer attitudes, interest, values, and lifestyles
Behavioral Segmentation - Answer-dividing the market based on how
people behave toward various products. This category includes both the
benefits that consumers seek from products and how consumers use the
products
Marketing Mix - Answer-The blend of marketing strategies for product,
price, distribution, and promotion
Environmental Scanning - Answer-The process of continually
collecting information from the external marketing environment
Market Share - Answer-The percentage of a market controlled by given
marketer
Consumer Behavior - Answer-description of how people act when they
are buying, using, and discarding goods and services for their own
personal consumption. Consumer behavior also explores the reasons
behind people's actions
,Cognitive Dissonance - Answer-consumer discomfort with a purchase
decision, typically for a higher priced item
Business Buyer Behavior - Answer-describes how people act when they
are buying products to use either directly or indirectly to produce other
products
Marketing - Answer-an organizational function and a set of processes
for creating, communicating, and delivering value to customers and for
managing customer relationships in ways that benefit the organization
and its stakeholders
Utility - Answer-the ability of goods and services to satisfy consumer
"wants"
Marketing Concept - Answer-a business philosophy that makes
customer satisfaction - now and in the future - the central focus of the
entire organization
Customer Relationship Management (CRM) - Answer-the ongoing
process of acquiring, maintaining, and growing profitable customer
relationships by delivering unmatched value
Value - Answer-a customer perception that a product has a better
relationship than its competitors between the cost and the benefits
, Customer Satisfaction - Answer-when customers perceive that a good
or service delivers value above and beyond their expectations
Customer Loyalty - Answer-when customers buy a product from the
same supplier again and again - sometimes paying even more for it than
they would for a competitive product
Marketing Research - Answer-The process of gathering, interpreting,
and applying information to uncover marketing opportunities and
challenges, and to make better marketing decisions
Secondary Data - Answer-existing data that marketers gather or
purchase for a research project
Primary Data - Answer-New data that marketers compile for a specific
research project
Observation Research - Answer-marketing research that does not
require the researcher to interact with the research subject
Survey Research - Answer-marketing research that requires the
researcher to interact with the research subject
Green Marketing - Answer-developing and promoting environmentally
sound products and practices to gain a competitive edge
AND 17 (ELIZABETH TURNBULL) QUESTIONS
AND ANSWERS LATEST 2025-2026 EXAM
UPDATE
Marketing Plan - Answer-A formal document that defines marketing
objectives and the specific strategies for achieving those objectives
Market Segmentation - Answer-dividing potential customers into
groups of similar people, or segments
Target Market - Answer-The group of people who are most likely to
buy a particular product
Consumer Marketers - Answer-also known as business-to-consumer or
B2C; marketers who direct their efforts toward people who are buying
products for personal consumption
Business Marketers - Answer-also known as business-to-business or
B2B; marketers who direct their efforts toward people who are buying
products to use either directly or indirectly to produce other products
Demographic Segmentation - Answer-dividing the market into smaller
groups based on measurable characteristics about people, such as age,
income, ethnicity, and gender
, Geographic Segmentation - Answer-dividing the market into smaller
groups based on where consumers live. This process can incorporate
countries, cities, or population density as key factors
Psychographic Segmentation - Answer-dividing the market into smaller
groups based on consumer attitudes, interest, values, and lifestyles
Behavioral Segmentation - Answer-dividing the market based on how
people behave toward various products. This category includes both the
benefits that consumers seek from products and how consumers use the
products
Marketing Mix - Answer-The blend of marketing strategies for product,
price, distribution, and promotion
Environmental Scanning - Answer-The process of continually
collecting information from the external marketing environment
Market Share - Answer-The percentage of a market controlled by given
marketer
Consumer Behavior - Answer-description of how people act when they
are buying, using, and discarding goods and services for their own
personal consumption. Consumer behavior also explores the reasons
behind people's actions
,Cognitive Dissonance - Answer-consumer discomfort with a purchase
decision, typically for a higher priced item
Business Buyer Behavior - Answer-describes how people act when they
are buying products to use either directly or indirectly to produce other
products
Marketing - Answer-an organizational function and a set of processes
for creating, communicating, and delivering value to customers and for
managing customer relationships in ways that benefit the organization
and its stakeholders
Utility - Answer-the ability of goods and services to satisfy consumer
"wants"
Marketing Concept - Answer-a business philosophy that makes
customer satisfaction - now and in the future - the central focus of the
entire organization
Customer Relationship Management (CRM) - Answer-the ongoing
process of acquiring, maintaining, and growing profitable customer
relationships by delivering unmatched value
Value - Answer-a customer perception that a product has a better
relationship than its competitors between the cost and the benefits
, Customer Satisfaction - Answer-when customers perceive that a good
or service delivers value above and beyond their expectations
Customer Loyalty - Answer-when customers buy a product from the
same supplier again and again - sometimes paying even more for it than
they would for a competitive product
Marketing Research - Answer-The process of gathering, interpreting,
and applying information to uncover marketing opportunities and
challenges, and to make better marketing decisions
Secondary Data - Answer-existing data that marketers gather or
purchase for a research project
Primary Data - Answer-New data that marketers compile for a specific
research project
Observation Research - Answer-marketing research that does not
require the researcher to interact with the research subject
Survey Research - Answer-marketing research that requires the
researcher to interact with the research subject
Green Marketing - Answer-developing and promoting environmentally
sound products and practices to gain a competitive edge
