Cal State Fullerton MKT 351
Midterm Review Questions
and Complete Solutions
Graded A+
A decision maker at the Postconventional level of morality would be concerned only with whether the
proposed action is legal and how it will be viewed by others - Answer: False
According to the second Podcast (C3 & C4), the short definition for Demography is numbers about
people. - Answer: True
Based on the Societal Classification of Offerings, seat belts in automobiles exemplify a Pleasing Offering -
Answer: False
The point category of the "A Market" definition refers to a locality, a geographic market area and is best
exemplified by the? - Answer: LA Market
According to the Product/Market Expansion Grid (a.k.a. Ansoff's Strategic Opportunity Matrix), a new
market and an existing product (offer) best describes? - Answer: Market Development
The Four-Way Test ethical guideline (code of ethics) includes four questions: 1) Is it the truth; 2) is it fair
to all concerned; 3) will it build goodwill and better friendships; and 4)? - Answer: Will it be beneficial to
all concerned?
About what proportion of U.S. residents will be Hispanic by 2050? - Answer: One in Three
1. Identify and briefly describe the three (3) strategic forms of competition as presented in class. (Hint:
discussed as part of the External and Uncontrollable environment in the First Podcast; bottom of the
diagram) - Answer: Intracompany- competition within a firm
Intercompany- competition among firms in the same industry
Interindustry- other competitors with same customer
, The export of management services best describes Contract Manufacturing. - Answer: False
A diagram of how consumers in a segment perceive brands based on specific elements they consider
important best describes a: - Answer: Positioning Map
A numeric limit on the quantity of a product which may be imported best describes an embargo. -
Answer: False
The common Demographic Segmentation dimensions are age, education, gender, generation, income,
nationality, race, religion, and - Answer: all three family life-cycle, family size and occupation
Which targeting strategy is best described as a multisegment - unique mix for each segment? - Answer:
Differentiated
According to the notes, one-third of U.S. corporate profits come from foreign trade and investments. -
Answer: True
Define Qualifying Dimensions. Identify and discuss the two basic forms of Qualifying Dimensions. -
Answer: Qualifying dimensions qualify a customer for the market, whether a customer is in the market
or not
1. Geographic Segmentation - dividing a market into different geographical entities - for example,
clothing
A.1 Nations, states, regions, counties, cities, neighborhoods, ZIP codes, etc.
B. 2) Based on the notion that consumer needs or responses vary geographically
2. Demographic Segmentation - dividing a market into different groups based on demographic -variables
Briefly describe Herzberg's Theory of Motivation and provide a marketing use example - Answer:
Herzberg's Theory of Motivation is a theory consisting of two factors: role of needs for satisfiers and
dissatisfiers. Marketers strive to maximize the satisfiers and minimize the dissatisfiers. Marketing uses in
Midterm Review Questions
and Complete Solutions
Graded A+
A decision maker at the Postconventional level of morality would be concerned only with whether the
proposed action is legal and how it will be viewed by others - Answer: False
According to the second Podcast (C3 & C4), the short definition for Demography is numbers about
people. - Answer: True
Based on the Societal Classification of Offerings, seat belts in automobiles exemplify a Pleasing Offering -
Answer: False
The point category of the "A Market" definition refers to a locality, a geographic market area and is best
exemplified by the? - Answer: LA Market
According to the Product/Market Expansion Grid (a.k.a. Ansoff's Strategic Opportunity Matrix), a new
market and an existing product (offer) best describes? - Answer: Market Development
The Four-Way Test ethical guideline (code of ethics) includes four questions: 1) Is it the truth; 2) is it fair
to all concerned; 3) will it build goodwill and better friendships; and 4)? - Answer: Will it be beneficial to
all concerned?
About what proportion of U.S. residents will be Hispanic by 2050? - Answer: One in Three
1. Identify and briefly describe the three (3) strategic forms of competition as presented in class. (Hint:
discussed as part of the External and Uncontrollable environment in the First Podcast; bottom of the
diagram) - Answer: Intracompany- competition within a firm
Intercompany- competition among firms in the same industry
Interindustry- other competitors with same customer
, The export of management services best describes Contract Manufacturing. - Answer: False
A diagram of how consumers in a segment perceive brands based on specific elements they consider
important best describes a: - Answer: Positioning Map
A numeric limit on the quantity of a product which may be imported best describes an embargo. -
Answer: False
The common Demographic Segmentation dimensions are age, education, gender, generation, income,
nationality, race, religion, and - Answer: all three family life-cycle, family size and occupation
Which targeting strategy is best described as a multisegment - unique mix for each segment? - Answer:
Differentiated
According to the notes, one-third of U.S. corporate profits come from foreign trade and investments. -
Answer: True
Define Qualifying Dimensions. Identify and discuss the two basic forms of Qualifying Dimensions. -
Answer: Qualifying dimensions qualify a customer for the market, whether a customer is in the market
or not
1. Geographic Segmentation - dividing a market into different geographical entities - for example,
clothing
A.1 Nations, states, regions, counties, cities, neighborhoods, ZIP codes, etc.
B. 2) Based on the notion that consumer needs or responses vary geographically
2. Demographic Segmentation - dividing a market into different groups based on demographic -variables
Briefly describe Herzberg's Theory of Motivation and provide a marketing use example - Answer:
Herzberg's Theory of Motivation is a theory consisting of two factors: role of needs for satisfiers and
dissatisfiers. Marketers strive to maximize the satisfiers and minimize the dissatisfiers. Marketing uses in
