PSYC 515 PRACTICE EXAMINATION QUESTIONS
AND SOLUTIONS 2026 FULL REVIEW PACKAGE
▶ Selling Company produces its product in batches of 100, yet its average
customer only purchases ten at a time. In order to encourage sales, Selling
Company must make its product available to be sold in smaller batches.
This process is known as blank_______. Answer: Breaking bulk
▶ The upstream partners that a company has to deal with are its suppliers,
also known as the _____. Answer: Supply chain
▶ ______ strategies are incentives a manufacturer offers to its distribution
partners such as dealers, wholesalers, retailers, and the like to sell
products to the end-users. Answer: Push marketing
▶ Two major issues make up the essence of the sales force: How many
salespeople should we have, and ____? Answer: how should salespeople
be compensated for their efforts
▶ Intensive distribution usually goes with heavy_____, lower prices, and
average or lower quality products. Answer: Promotion
▶ Qualitative marketing research Answer: Interviews, focus groups,
observations, ethnographies
▶ Qualitative marketing research Answer: Surveys, experiments, scanner
data analysis
▶ Secondary vs. Primary Data Answer: 1. Secondary: previously gathered
(e.g., in the library, online); they're quick and cheap to obtain.
2. Primary: new data gathered to solve current problem
Requires that marketers design a study, collect and analyze data; answers
can be quite precise.
▶ Exploratory data Answer: Focus groups and interviews are used to
formulate marketing questions
, ▶ Descriptive data Answer: Surveys and scanner data are used to obtain
large-scale stats.
▶ Casual data Answer: Experiments are used to study the effects of
manipulated marketing mix variables on measures of sales and customer
attitudes.
▶ Seven Popular Marketing Research Techniques Answer: 1. Cluster
analysis for segmentation
2. Perceptual mapping for positioning
3. Focus groups for concept testing
4. Conjoint Analysis for testing attributes
5. Scanner data for pricing and coupon experiments and brand switching
6. Surveys for customer satisfaction
7. Network methods to identify opinion leaders in buzz marketing
▶ Clustering methods Answer: Use survey data to group observations
(individuals) that are most similar into a cluster (group).
Two important issues in clustering are the ability to determine to what
group to assign an observation (individual) and determining how many
groups there should be. Fewer clusters means greater heterogeneity within
a cluster.
Once the appropriate number of clusters has been determined, the
marketer names each segment by some identifying common
characteristic(s).
▶ Positioning studies Answer: Used to understand how customers view a
business in the marketplace.
AND SOLUTIONS 2026 FULL REVIEW PACKAGE
▶ Selling Company produces its product in batches of 100, yet its average
customer only purchases ten at a time. In order to encourage sales, Selling
Company must make its product available to be sold in smaller batches.
This process is known as blank_______. Answer: Breaking bulk
▶ The upstream partners that a company has to deal with are its suppliers,
also known as the _____. Answer: Supply chain
▶ ______ strategies are incentives a manufacturer offers to its distribution
partners such as dealers, wholesalers, retailers, and the like to sell
products to the end-users. Answer: Push marketing
▶ Two major issues make up the essence of the sales force: How many
salespeople should we have, and ____? Answer: how should salespeople
be compensated for their efforts
▶ Intensive distribution usually goes with heavy_____, lower prices, and
average or lower quality products. Answer: Promotion
▶ Qualitative marketing research Answer: Interviews, focus groups,
observations, ethnographies
▶ Qualitative marketing research Answer: Surveys, experiments, scanner
data analysis
▶ Secondary vs. Primary Data Answer: 1. Secondary: previously gathered
(e.g., in the library, online); they're quick and cheap to obtain.
2. Primary: new data gathered to solve current problem
Requires that marketers design a study, collect and analyze data; answers
can be quite precise.
▶ Exploratory data Answer: Focus groups and interviews are used to
formulate marketing questions
, ▶ Descriptive data Answer: Surveys and scanner data are used to obtain
large-scale stats.
▶ Casual data Answer: Experiments are used to study the effects of
manipulated marketing mix variables on measures of sales and customer
attitudes.
▶ Seven Popular Marketing Research Techniques Answer: 1. Cluster
analysis for segmentation
2. Perceptual mapping for positioning
3. Focus groups for concept testing
4. Conjoint Analysis for testing attributes
5. Scanner data for pricing and coupon experiments and brand switching
6. Surveys for customer satisfaction
7. Network methods to identify opinion leaders in buzz marketing
▶ Clustering methods Answer: Use survey data to group observations
(individuals) that are most similar into a cluster (group).
Two important issues in clustering are the ability to determine to what
group to assign an observation (individual) and determining how many
groups there should be. Fewer clusters means greater heterogeneity within
a cluster.
Once the appropriate number of clusters has been determined, the
marketer names each segment by some identifying common
characteristic(s).
▶ Positioning studies Answer: Used to understand how customers view a
business in the marketplace.
