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BUSI 3250 AUBURN: EXAM 3 2025
QUESTIONS AND ANSWERS.
environmental scanning -correct answer-procedure in which the firm scans the
world for changes in the environmental forces that might affect it (broader than
market screening)
ex: world threats & opportunities
cluster analysis -correct answer-statistical technique that divides objects into
groups based on similarity, looking to group based on similar characteristics
ex: automotive industry or can look at consumer clusters
products that you do not need to adapt or change, but can still be successful abroad
-correct answer-industrial & luxury products
what % of products be successful abroad without changing anything? -correct
answer-~10%
marketing mix -correct answer-a set of strategy decisions made about the product
& its promotion, pricing & distribution in order to satisfy the needs & desires of
customers in a target market
marketing to millennials: 5 paradoxical trends -correct answer-
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1. amortality
2. shareconomy
3. cloaking
4. predictable consumer behavior
5. serendipity
amortality -correct answer-anti-aging trends for millenials
shareconomy -correct answer-also called shortcut society - MOOCs, uber, airbnb,
renting your car to someone else
cloaking -correct answer-creation of private pages or closed groups on social
media sites such as facebook, desharing & unselfies
predictable consumer behavior -correct answer-analyzing data to improve
marketing
serendipity -correct answer-enjoying surprised through coincidental discovers on
social networks though surprise boxes of cosmetics & skin care products, monthly
subscriptions for dog items, makeup or clothes
market screening -correct answer-modified version of environmental scanning in
which the firm identifies desirable markets by eliminating the less desirable ones
country screening -correct answer-screening that uses countries as the basis for
market selection (narrowing down to a country or more)
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segment screening -correct answer-screening that uses market segments, a within-
country analysis of groups of consumers, as the basis for market selection
initial screening: basic needs potential -correct answer-- influenced by climate,
geography & natural resources
- some needs easy to assess (industrial gods); others more difficult, especially
when they are desires (chocolate)
- data includes imports, local production
second screening: financial & economic forces -correct answer-- trends in
inflation, currency exchange, interest rates, credit availability, paying habits, rates
of return on similar investments
- market indicators include economic data used to measure relative market strength
of countries or geographic areas
- market factors include economic data that correlate highly with market demand
for a product
- trend analysis
- cluster analysis
trend analysis -correct answer-statistical technique used to estimate future values
by successive observations of a variable at regular time intervals that suggest
patterns
(using past information/data to predict the future)
third screening: political & legal forces -correct answer-- barriers to entry such as
import/export tariffs
- limits on foreign ownership
- limits on repatriation of earnings
- stable government policies (which differ from government stability)
BUSI 3250 AUBURN: EXAM 3 2025
QUESTIONS AND ANSWERS.
environmental scanning -correct answer-procedure in which the firm scans the
world for changes in the environmental forces that might affect it (broader than
market screening)
ex: world threats & opportunities
cluster analysis -correct answer-statistical technique that divides objects into
groups based on similarity, looking to group based on similar characteristics
ex: automotive industry or can look at consumer clusters
products that you do not need to adapt or change, but can still be successful abroad
-correct answer-industrial & luxury products
what % of products be successful abroad without changing anything? -correct
answer-~10%
marketing mix -correct answer-a set of strategy decisions made about the product
& its promotion, pricing & distribution in order to satisfy the needs & desires of
customers in a target market
marketing to millennials: 5 paradoxical trends -correct answer-
, Page |2
1. amortality
2. shareconomy
3. cloaking
4. predictable consumer behavior
5. serendipity
amortality -correct answer-anti-aging trends for millenials
shareconomy -correct answer-also called shortcut society - MOOCs, uber, airbnb,
renting your car to someone else
cloaking -correct answer-creation of private pages or closed groups on social
media sites such as facebook, desharing & unselfies
predictable consumer behavior -correct answer-analyzing data to improve
marketing
serendipity -correct answer-enjoying surprised through coincidental discovers on
social networks though surprise boxes of cosmetics & skin care products, monthly
subscriptions for dog items, makeup or clothes
market screening -correct answer-modified version of environmental scanning in
which the firm identifies desirable markets by eliminating the less desirable ones
country screening -correct answer-screening that uses countries as the basis for
market selection (narrowing down to a country or more)
, Page |3
segment screening -correct answer-screening that uses market segments, a within-
country analysis of groups of consumers, as the basis for market selection
initial screening: basic needs potential -correct answer-- influenced by climate,
geography & natural resources
- some needs easy to assess (industrial gods); others more difficult, especially
when they are desires (chocolate)
- data includes imports, local production
second screening: financial & economic forces -correct answer-- trends in
inflation, currency exchange, interest rates, credit availability, paying habits, rates
of return on similar investments
- market indicators include economic data used to measure relative market strength
of countries or geographic areas
- market factors include economic data that correlate highly with market demand
for a product
- trend analysis
- cluster analysis
trend analysis -correct answer-statistical technique used to estimate future values
by successive observations of a variable at regular time intervals that suggest
patterns
(using past information/data to predict the future)
third screening: political & legal forces -correct answer-- barriers to entry such as
import/export tariffs
- limits on foreign ownership
- limits on repatriation of earnings
- stable government policies (which differ from government stability)
