MARK 3321 FINAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
First principles of marketing Ans✓✓✓Listen to the customer, change
the rules, win or position with strength and do your duty. Make Good
decision by weighing pros and cons
Fundamental values of tomorrow's markets (characteristics of
tomorrow's market) Ans✓✓✓Customer: customization
Capital: simultaneously availability and scarcity
Labor: knowledge workers
Government: paying for something
Criteria for segmentation Ans✓✓✓Sustainability
Identifiable/Measurability
Accessibility
Responsiveness
Sustainability Ans✓✓✓segment must be large enough to warrant a
special marketing mix
Identifiability/Measurability Ans✓✓✓segments must be identifiable and
their size measurable
, Accessibility Ans✓✓✓members of targeted segments must be reachable
with marketing mix
Responsiveness Ans✓✓✓unless segment responds to a marketing mix
differently, no separate treatment is needed
Bases of segmentation Ans✓✓✓Geography
Demographics
Psychographics
Benefits Sought
Usage Rate
Geography Ans✓✓✓region of the country or world, market size, market
density, climate
Demographics Ans✓✓✓age, gender, income,ethnic background,family
life cycle
Psychographics Ans✓✓✓Personality, motives, lifestyles,
geodemographics
Benefits Sought Ans✓✓✓process of grouping customers into market
segments according to the benefits they seek from the product
DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY
GRADED A+
First principles of marketing Ans✓✓✓Listen to the customer, change
the rules, win or position with strength and do your duty. Make Good
decision by weighing pros and cons
Fundamental values of tomorrow's markets (characteristics of
tomorrow's market) Ans✓✓✓Customer: customization
Capital: simultaneously availability and scarcity
Labor: knowledge workers
Government: paying for something
Criteria for segmentation Ans✓✓✓Sustainability
Identifiable/Measurability
Accessibility
Responsiveness
Sustainability Ans✓✓✓segment must be large enough to warrant a
special marketing mix
Identifiability/Measurability Ans✓✓✓segments must be identifiable and
their size measurable
, Accessibility Ans✓✓✓members of targeted segments must be reachable
with marketing mix
Responsiveness Ans✓✓✓unless segment responds to a marketing mix
differently, no separate treatment is needed
Bases of segmentation Ans✓✓✓Geography
Demographics
Psychographics
Benefits Sought
Usage Rate
Geography Ans✓✓✓region of the country or world, market size, market
density, climate
Demographics Ans✓✓✓age, gender, income,ethnic background,family
life cycle
Psychographics Ans✓✓✓Personality, motives, lifestyles,
geodemographics
Benefits Sought Ans✓✓✓process of grouping customers into market
segments according to the benefits they seek from the product
