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
, CIS 260 TEST 1 | QUESTIONS AND ANSWERS | 2026 UPDATE | 100% CORRECT
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
response-based segmentation - (ANSWER)a process that uses customers past purchases to determine
how they will respond to future marketing actions and new products
customer centricity - (ANSWER)a business practice that focuses on meeting customers needs rather than
only selling products or services
customer centricity activities - (ANSWER)coordination, cooperation, compatibility, connection
coordination - (ANSWER)establishing structural mechanisms that allow employees to improve their
focus on their customers
cooperation - (ANSWER)encourages all workers of a company to work together to meet customer needs
compatibility - (ANSWER)ensuring that enough people in a company have the skills necessary to deliver
customer-focused solutions
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
, CIS 260 TEST 1 | QUESTIONS AND ANSWERS | 2026 UPDATE | 100% CORRECT
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
response-based segmentation - (ANSWER)a process that uses customers past purchases to determine
how they will respond to future marketing actions and new products
customer centricity - (ANSWER)a business practice that focuses on meeting customers needs rather than
only selling products or services
customer centricity activities - (ANSWER)coordination, cooperation, compatibility, connection
coordination - (ANSWER)establishing structural mechanisms that allow employees to improve their
focus on their customers
cooperation - (ANSWER)encourages all workers of a company to work together to meet customer needs
compatibility - (ANSWER)ensuring that enough people in a company have the skills necessary to deliver
customer-focused solutions
