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-
,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)
, 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
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-
,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)
, 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
