Susan McManus

Marketing Exam

Target Markets & Consumer Behavior

Please circle the best response: (4 pts each)

  1. Markets comprised of individuals with diverse product needs are called ______markets.
  1. Homogeneous
  2. Differentiated
  3. Segmented
  4. Heterogeneous
  1. The number of potential customers within a unit of land area is referred to as the
  1. Market segment
  2. Target market
  3. Market density
  4. Market total
  1. The sales forecasting method that relies specifically on historical sales data is
  1. Expert surveys
  2. Market tests
  3. Time series analysis
  4. Executive judgment
  1. By conducting a customer survey, the forecaster gains information about consumers’
  1. Actual purchases
  2. Intended purchases
  3. Past purchases
  4. Buying power
  1. If a marketer for Pepsi measured purchases and consumer responses to price, promotion, and distribution of its new product, Strawberry Pepsi, it would be using which of the following sales forecasting techniques?
  1. Time series analysis
  2. Regression analysis
  3. Surveys
  4. Market tests
  1. Which type of problem solving is used when a product is purchased quickly, with little or no mental effort?
  1. Routinized response behavior
  2. Limited problem solving
  3. Extended problem solving
  4. Intensive decision making
  1. Peter is going to buy soap. In making his decision, he will most likely use
  1. Extended problem solving
  2. Routinized response behavior
  3. Comprehensive problem solving
  4. Intensive decision making
  1. The Smith’s are on a family road trip and get a flat tire. Using the spare, they drive to the nearest gas station to buy a new tire. Here, the buying process was affected by
  1. A situational factor
  2. Cognitive dissonance
  3. Framing
  4. Internal search
  1. Attitudes
  1. Have little influence on consumer behavior
  2. Are learned and therefore cannot be changed
  3. Are acquired through experience and interaction with others
  4. Of consumers towards a particular firm have no influence on the firm’s marketing strategy
  1. Culture is defined as
  1. A set of actions that an individual is expected to perform
  2. A group of people with similar social ranking
  3. A society’s accumulation of values, knowledge, beliefs, customs and concepts
  4. The characteristics of various social classes

Word Box –Please choose the word or phrase that best fits each statement: (3 pts each)

  1. ______is best defined as internal traits and distinct behavioral tendencies that result in consistent patterns of behavior. (personality)
  1. The five levels of needs that humans seek to satisfy, from most to least important, are known as ______. (Maslow’s hierarchy of needs)
  1. The process by which an individual selects, organizes and interprets information to produce meaning is known as ______. (perception)
  1. A ______focuses on aggregate sales data, such as a company’s annual sales figures, over a period of many years to determine whether annual sales are generally rising, falling or remaining the same. (trend analysis)
  1. A ______market exists when a large proportion of customers have similar needs for a product. (homogeneous)
  1. The process in which a buyer spends substantial time and effort seeking out alternative products and evaluating them to determine which one will be most satisfying is known as ______. (extended problem solving).
  1. A ______is an internal energizing force which directs a person’s behavior toward satisfying needs or achieving goals. (motive)
  1. A ______consists of individuals, groups or organizations that share one or more similar characteristics, which give them relatively similar product needs. (market segment)

Matching-Match the example with the corresponding answer: (4 pts each)

_____19. Extended (B)

_____20.Selective exposure (C)

_____ 21. Surveying (A)

_____ 22. Psychographics (E)

_____23. Problem Recognition (D)

  1. Samantha is an employee of Dell. To create a company sales forecast, she questioned customers and sales personnel. Which sales forecasting technique was she using?
  2. Last week Michael went to Best Buy to purchase a new big screen television. His experience mostly likely consisted of what type of problem solving?
  3. At 11a.m.Applebee’sbeings airing radio ads about their lunch specials. Applebee’s is capitalizing on this aspect of perception.
  4. Before hosting a dinner part, Sarah notices she does not have enough dishes. At which stage of consumer buying decision is Sarah?
  5. Despite a similarity in size, Hawaiian Tropic focuses more of its marketing efforts on Miami rather than Portland. In this case Hawaiian Tropic is responding to differences in what?

Extended Response Questions: Answer the following questions in paragraph form. (8 pts each)

  1. Discuss the 5 elements of Maslow’s hierarchy of needs. In addition, use the pyramid below and place each element in the appropriate level.

______

______

Suggested Response:

Maslow’s hierarchy of needs is based on his theory of human motivation. Maslow believed that basic human needs needed to be fulfilled before a person could reach a point of unselfishness and personal growth. He categorized these needs into five levels-physiological, safety, social, esteem and self actualization. He claimed that lower level needs such as physiological needs, must be met first in order to achieve self actualization.

  1. f needs. Please be sure to list in the order of importance, from least important to most important. 111111111111111111111111111Identify and discuss the four methods of segmenting a market.

______

Suggested Response:

Market segmentation consists of classifying people who form a market into smaller groups. There are four methods used for segmenting a market. First are demographics, which refer to statistics that describe a population in terms of personal characteristics such as age, race, and gender. Second are geographics, which segment the market based on where people live. The third method is using psychographics, which involves grouping people with similar lifestyles, values and opinions together. Finally, the fourth method is using behavior. With this method researchers look at buyer behavior and look for similar buying patterns and benefits desired by consumers in order to group them together.

Excellent / Good / Fair / Poor
Number of Questions
& Appropriate Question Types
20 pts. /
25 or more questions using the appropriate question types
(20) / 22-24 questions using the appropriate question types
(19-17) / 19-21 questions using mostly the appropriate question types
(16-13) / 19-0
questions, not all question types correct or used
(12-0) / 20
Thoughtful, well developed questions that promote higher level thinking
20 pts.
/ All questions are thoughtful, well-developed and promote higher level thinking
(20) / Most questions are thoughtful, well-developed, and promote higher level thinking
(19-17) / Some questions are thoughtful, well-developed, or promote higher level thinking
(16-13) / No questions are thoughtful, well-developed, or promote higher level thinking
(12-0) / 18
Created in Word using features discussed in class
20 pts. / Clearly displays knowledge of Word Features discussed in class
(20) / Displays knowledge of Word Features discussed in class
(19-17) / Barely displays knowledge of Word Features discussed in class
(16-13) / Does not use features discussed in class
(0) / 17
Marketing Content, Spelling and Grammar
20 pts. / Content is accurate/No Spelling or Grammar Errors
(20) / Content is accurate/Less than two spelling or grammar errors
(19-17) / Content is accurate/More than two spelling or grammar errors
(16-13) / Inaccurate Content and more than two spelling or grammar errors (12-0) / 20
Visual Appearance
20 pts. / Extremely attractive and organized
(20) / Attractive and organized
(19-17) / Organized and unattractive
(16-13) / Unattractive and unorganized
(12-0) / 19
94/100

______--