MGT 8803 EVALUATION EXAM ACTUAL QUESTIONS AND
SOLUTIONS GRADED A+
✔✔Breakthrough Opportunity - ✔✔A marketing initiative that can provide a long-term,
sustainable competitive advantage.
✔✔Marketing Environment - ✔✔All internal and external factors influencing marketing
decisions, including customers and competitors.
✔✔Company Analysis - ✔✔Assessing internal capabilities, resources, and brand
strengths to inform marketing strategy.
✔✔Opportunity Analysis - ✔✔Evaluating market potential and profitability to identify
attractive business opportunities.
✔✔Marketing Simulation - ✔✔An educational exercise modeling real-world marketing
decisions for analytical learning.
✔✔Positioning Statement - ✔✔A concise description of the target market, product, key
benefits, and points of differentiation.
✔✔Perceptual Mapping - ✔✔A visual tool that shows how consumers perceive brands
relative to competitors across attributes.
✔✔Consumer Behavior - ✔✔The study of how individuals make decisions to spend
resources on goods and services.
✔✔Consumer Decision Process - ✔✔The stages consumers pass through—need
recognition, search, evaluation, purchase, and post-purchase.
✔✔Adoption Process - ✔✔Steps through which consumers learn about and begin to
use a new product: awareness, interest, evaluation, trial, adoption.
✔✔Cognitive Dissonance - ✔✔Post-purchase anxiety caused by uncertainty over
whether a decision was correct.
✔✔Low-Involvement Purchase - ✔✔Routine, habitual buying decisions with minimal
thought, such as everyday items.
✔✔High-Involvement Purchase - ✔✔Complex decisions requiring significant research
and evaluation, such as cars or homes.
✔✔Economic Needs - ✔✔Rational motives influencing purchases, like price, quality,
and convenience.
, ✔✔Psychological Influences - ✔✔Internal factors such as motivation, perception,
learning, attitudes, and personality affecting buying behavior.
✔✔Social Influences - ✔✔External factors like family, culture, and reference groups
shaping buying decisions.
✔✔Maslow's Hierarchy of Needs - ✔✔A motivational theory that ranks human needs
from basic to self-actualization.
✔✔Selective Perception - ✔✔The tendency of consumers to interpret information in
ways consistent with existing beliefs.
✔✔Selective Retention - ✔✔Consumers remember only information that supports their
attitudes or experiences.
✔✔Attitude - ✔✔A person's consistent evaluation or feeling toward an object, idea, or
brand.
✔✔Belief - ✔✔A descriptive thought or conviction a person holds about something.
✔✔Trust - ✔✔Confidence in a brand's reliability and integrity, critical for long-term
relationships.
✔✔Lifestyle (AIO) - ✔✔A consumer's Activities, Interests, and Opinions used for
psychographic segmentation.
✔✔Reference Group - ✔✔People whose opinions influence an individual's attitudes and
purchasing behavior.
✔✔Opinion Leader - ✔✔A person who influences others' attitudes or behaviors due to
expertise or credibility.
✔✔Culture - ✔✔Shared values, beliefs, and customs that shape consumer preferences
and behaviors.
✔✔Business Buying Behavior - ✔✔The decision-making process used by firms to
purchase goods and services for production or resale.
✔✔Buying Center - ✔✔A group of people involved in organizational buying decisions,
each with specific roles.
✔✔Derived Demand - ✔✔Business demand that originates from consumer demand for
final goods.
SOLUTIONS GRADED A+
✔✔Breakthrough Opportunity - ✔✔A marketing initiative that can provide a long-term,
sustainable competitive advantage.
✔✔Marketing Environment - ✔✔All internal and external factors influencing marketing
decisions, including customers and competitors.
✔✔Company Analysis - ✔✔Assessing internal capabilities, resources, and brand
strengths to inform marketing strategy.
✔✔Opportunity Analysis - ✔✔Evaluating market potential and profitability to identify
attractive business opportunities.
✔✔Marketing Simulation - ✔✔An educational exercise modeling real-world marketing
decisions for analytical learning.
✔✔Positioning Statement - ✔✔A concise description of the target market, product, key
benefits, and points of differentiation.
✔✔Perceptual Mapping - ✔✔A visual tool that shows how consumers perceive brands
relative to competitors across attributes.
✔✔Consumer Behavior - ✔✔The study of how individuals make decisions to spend
resources on goods and services.
✔✔Consumer Decision Process - ✔✔The stages consumers pass through—need
recognition, search, evaluation, purchase, and post-purchase.
✔✔Adoption Process - ✔✔Steps through which consumers learn about and begin to
use a new product: awareness, interest, evaluation, trial, adoption.
✔✔Cognitive Dissonance - ✔✔Post-purchase anxiety caused by uncertainty over
whether a decision was correct.
✔✔Low-Involvement Purchase - ✔✔Routine, habitual buying decisions with minimal
thought, such as everyday items.
✔✔High-Involvement Purchase - ✔✔Complex decisions requiring significant research
and evaluation, such as cars or homes.
✔✔Economic Needs - ✔✔Rational motives influencing purchases, like price, quality,
and convenience.
, ✔✔Psychological Influences - ✔✔Internal factors such as motivation, perception,
learning, attitudes, and personality affecting buying behavior.
✔✔Social Influences - ✔✔External factors like family, culture, and reference groups
shaping buying decisions.
✔✔Maslow's Hierarchy of Needs - ✔✔A motivational theory that ranks human needs
from basic to self-actualization.
✔✔Selective Perception - ✔✔The tendency of consumers to interpret information in
ways consistent with existing beliefs.
✔✔Selective Retention - ✔✔Consumers remember only information that supports their
attitudes or experiences.
✔✔Attitude - ✔✔A person's consistent evaluation or feeling toward an object, idea, or
brand.
✔✔Belief - ✔✔A descriptive thought or conviction a person holds about something.
✔✔Trust - ✔✔Confidence in a brand's reliability and integrity, critical for long-term
relationships.
✔✔Lifestyle (AIO) - ✔✔A consumer's Activities, Interests, and Opinions used for
psychographic segmentation.
✔✔Reference Group - ✔✔People whose opinions influence an individual's attitudes and
purchasing behavior.
✔✔Opinion Leader - ✔✔A person who influences others' attitudes or behaviors due to
expertise or credibility.
✔✔Culture - ✔✔Shared values, beliefs, and customs that shape consumer preferences
and behaviors.
✔✔Business Buying Behavior - ✔✔The decision-making process used by firms to
purchase goods and services for production or resale.
✔✔Buying Center - ✔✔A group of people involved in organizational buying decisions,
each with specific roles.
✔✔Derived Demand - ✔✔Business demand that originates from consumer demand for
final goods.
