CIS 260 TEST 1 | QUESTIONS AND ANSWERS | 2026
UPDATE | 100% CORRECT
P's of the marketing mix Answer - product, price, promotion, place
market research process Answer - define the problem, determine the sources
of information and design the research, choose the most appropriate data
collection method, collect the data, analyze and interpret the data
return on investment Answer - used to evaluate the efficiency of an
investment or to compare the efficiencies of several different investments, net
profit/cost of investment x 100 = ROI
experimental research Answer - research that manipulates the environment
then measures the effects, seeks causal relationships
non-experimental research Answer - qualitative or quantitative research that
aims to answer questions about market size, customer preference, or trade-off
behavior without introducing any manipulation of the environment (surveys,
focus groups, interviews, observations)
primary research Answer - original research conducted for a specific marketing
situation
secondary research Answer - past research which has already been performed
and often already published
, census Answer - a complete canvas, count, or survey of an entire population
that is being studied
sample Answer - allows researcher sot gather information from only a part of
the population
differentiated marketing Answer - a market-coverage strategy in which a firm
decides to target several market segments and designs separate offers for each
undifferentiated marketing Answer - a market-coverage strategy in which a
firm decides to ignore market segment differences and go after the whole
market with one offer
RFM Model Answer - used to track customers transaction data and segment
them: recency, frequency, and monetary value (customers are ranked from 1-5
in each category to determine their level of loyalty)
commonly used segmentation techniques Answer - cluster analysis,
preference-based segmentation, response-based segmentation
cluster analysis Answer - a method to group customers based on a set of
variables so that customers in one group are similar to each other but are
different from customers in another group
preference-based segmentation Answer - a process in which customers are
asked to either talk about their preferences when it comes to making a
purchase decision or make trade-offs between several pairs of products that
are designed with a collection og attributes
UPDATE | 100% CORRECT
P's of the marketing mix Answer - product, price, promotion, place
market research process Answer - define the problem, determine the sources
of information and design the research, choose the most appropriate data
collection method, collect the data, analyze and interpret the data
return on investment Answer - used to evaluate the efficiency of an
investment or to compare the efficiencies of several different investments, net
profit/cost of investment x 100 = ROI
experimental research Answer - research that manipulates the environment
then measures the effects, seeks causal relationships
non-experimental research Answer - qualitative or quantitative research that
aims to answer questions about market size, customer preference, or trade-off
behavior without introducing any manipulation of the environment (surveys,
focus groups, interviews, observations)
primary research Answer - original research conducted for a specific marketing
situation
secondary research Answer - past research which has already been performed
and often already published
, census Answer - a complete canvas, count, or survey of an entire population
that is being studied
sample Answer - allows researcher sot gather information from only a part of
the population
differentiated marketing Answer - a market-coverage strategy in which a firm
decides to target several market segments and designs separate offers for each
undifferentiated marketing Answer - a market-coverage strategy in which a
firm decides to ignore market segment differences and go after the whole
market with one offer
RFM Model Answer - used to track customers transaction data and segment
them: recency, frequency, and monetary value (customers are ranked from 1-5
in each category to determine their level of loyalty)
commonly used segmentation techniques Answer - cluster analysis,
preference-based segmentation, response-based segmentation
cluster analysis Answer - a method to group customers based on a set of
variables so that customers in one group are similar to each other but are
different from customers in another group
preference-based segmentation Answer - a process in which customers are
asked to either talk about their preferences when it comes to making a
purchase decision or make trade-offs between several pairs of products that
are designed with a collection og attributes
