BA 170 –EXAM QUESTIONS & ANSWERS
1. Understand the marketplace and customer needs and wants
2. Design a customer value-driven marketing strategy
3. Construct an integrated marketing program that delivers superior value
4. Engage customers, build profitable relationships, and create customer delight
5. Capture value from customers to create profits and customer equity - Answers -
What is the marketing process?
States of felt deprivation - Answers - What are needs?
Specific manifestations that promise to address these needs - Answers - What are
wants?
To gain insights and to understand the situation the market is in - Answers - Why do
we perform environmental scanning?
competitive - Answers - The micro-environment is the __ environment.
1. Buyers
2. Suppliers
3. Competitors
4. Substitutes
5. Potential Entrants - Answers - What are Porter's five forces?
Value
Rareness
Imitability
Organization - Answers - What is the VRIO framework?
assets
capabilities
knowledge
raw materials
networks - Answers - What are the sources of competitive advantage?
It is what you don't have that others do - Answers - What is a resource-based
weakness?
1. Internal Records
2. Marketing Intelligence
3. Market Research - Answers - What are the tools of the information system?
1. Observational research
2. Ethnographic research
3. FGD - Answers - What are the approaches to qualitative research?
, 1. Dependent
2. Bachelor
3. DINK/SINK
4. Nuclear Family
5. Empty Nest
6. Lone Survivor - Answers - What are the life cycle stages?
1. Cultural
2. Social Factors
3. Personal Factors
4. Psychological Factors - Answers - What are the factors affecting consumer
behavior?
Initiator
Influencer
Decider
Buyer
User - Answers - What are the buying roles?
Need Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Post-purchase Behavior - Answers - What are the stages of the buying decision
process?
heterogeneous - Answers - Market segmentation is a strategy for dividing large,
homogenous/heterogeneous markets into smaller units that can be more efficiently
reached and served
opportunities to differentiate
strengthens branding
minimize direct and expensive competition - Answers - Why segment?
Geographic
Demographic
Psychographic
Behavioral
*Statistical - Answers - Types of market segmentation
Benefits sought/Benefit segmentation - Answers - What is the kind of behavioral
segmentation that is usually done by FMCGs?
Growth Potential
Structural Attractiveness
1. Understand the marketplace and customer needs and wants
2. Design a customer value-driven marketing strategy
3. Construct an integrated marketing program that delivers superior value
4. Engage customers, build profitable relationships, and create customer delight
5. Capture value from customers to create profits and customer equity - Answers -
What is the marketing process?
States of felt deprivation - Answers - What are needs?
Specific manifestations that promise to address these needs - Answers - What are
wants?
To gain insights and to understand the situation the market is in - Answers - Why do
we perform environmental scanning?
competitive - Answers - The micro-environment is the __ environment.
1. Buyers
2. Suppliers
3. Competitors
4. Substitutes
5. Potential Entrants - Answers - What are Porter's five forces?
Value
Rareness
Imitability
Organization - Answers - What is the VRIO framework?
assets
capabilities
knowledge
raw materials
networks - Answers - What are the sources of competitive advantage?
It is what you don't have that others do - Answers - What is a resource-based
weakness?
1. Internal Records
2. Marketing Intelligence
3. Market Research - Answers - What are the tools of the information system?
1. Observational research
2. Ethnographic research
3. FGD - Answers - What are the approaches to qualitative research?
, 1. Dependent
2. Bachelor
3. DINK/SINK
4. Nuclear Family
5. Empty Nest
6. Lone Survivor - Answers - What are the life cycle stages?
1. Cultural
2. Social Factors
3. Personal Factors
4. Psychological Factors - Answers - What are the factors affecting consumer
behavior?
Initiator
Influencer
Decider
Buyer
User - Answers - What are the buying roles?
Need Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Post-purchase Behavior - Answers - What are the stages of the buying decision
process?
heterogeneous - Answers - Market segmentation is a strategy for dividing large,
homogenous/heterogeneous markets into smaller units that can be more efficiently
reached and served
opportunities to differentiate
strengthens branding
minimize direct and expensive competition - Answers - Why segment?
Geographic
Demographic
Psychographic
Behavioral
*Statistical - Answers - Types of market segmentation
Benefits sought/Benefit segmentation - Answers - What is the kind of behavioral
segmentation that is usually done by FMCGs?
Growth Potential
Structural Attractiveness
