UCF MAR 3023 EXAM 3 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026
Segment Methods - Answers demographic, psychographic, geographic, behavioral, benefit
Segment Attractiveness Qualities - Answers identifiable, substantial, reachable, responsive, profitable
Segment Profitablity Equation - Answers SP = segment size x segmentation adoption % (how many
bought) x purchase behavior (#x$) x profit margin % - fixed costs
Market Share Equation - Answers company share/market share
Market Ratio - Answers one percentage to another (6:1)
Secondary Data - Answers collected prior to start of research; find existing data
Primary Data - Answers collect to address needs; no existing data, make own
Product Line - Answers associated items consumers tend to use together/think of as part of group
(laundry)
Product Mix - Answers all firm's products (P&G)
Product Categories - Answers specialty (jewelry), shopping (cars), convenience (grocery), unsought
(parking permit)
Breadth - Answers # of product lines (narrow/wide)
Increase Breadth - Answers add product line
Decrease Breadth - Answers remove product line
Increase Depth - Answers add product
Decrease Depth - Answers remove product
Top 5 Brands - Answers 1. Apple 2. Microsoft 3. Amazon 4. Google 5. Samsung
Brand Value - Answers facilitate purchase, establish loyalty, protect from competition and price
competition, reduce marketing costs, asset, impact market value
Brand Equity - Answers awareness and loyalty
Brand Ownership - Answers manufacturer/national brand (Nike/Coke); retail/store/private label
brand (Publix, Walmart)
Family Brand - Answers corporate name on all brands (Kraft)
Individual Brand - Answers individual entities (P&G)
Brand Dilution - Answers overuse brand, doesn't fit product
Brand Extension - Answers same name different line (Zippo perfume)
Line Extension - Answers same name same line (tostitos and dip)
Co-brand - Answers 2+ brands together (KFC+taco bell)
Brand License - Answers contract agreement where firms allow another to use brand for fee (NBA
hats)
Brand Reposition - Answers change focus to new market (Aunt Jemima)
Innovate - Answers create new product
Long-term Reasons to Innovate - Answers changed needs, market saturation, manage risk through
diversity, fashion cycle, improving business relationship
Innovation Diffusion - Answers innovators (2.5%), early adopter (13.5%), early majority (34%), late
majority (34%), laggards (16%)
Factors Affecting Innovation Diffusion - Answers relative advantage, compatability, observability,
complexity+trialability
Prototype - Answers example product
Alpha Testing - Answers testing product internally
Beta Testing - Answers testing product externally on consumer
Premarket Testing - Answers customer exposed to consumer, surveys, make decision; private
Test Marketing - Answers mini launch, more expensive, market demand estimate; public
Product Life Cycle - Answers introduction (innovators and early adopters); growth (early majority);
maturity (late maturity); decline (laggards)
STP Steps - Answers 1. establish strategy/objectives
2. use segment methods
3. evaluate segment attractiveness
4. select target market
5. identify and develop position strategy
Research Process Steps - Answers 1. define objective and research needs
2. design research project
3. data collection
Segment Methods - Answers demographic, psychographic, geographic, behavioral, benefit
Segment Attractiveness Qualities - Answers identifiable, substantial, reachable, responsive, profitable
Segment Profitablity Equation - Answers SP = segment size x segmentation adoption % (how many
bought) x purchase behavior (#x$) x profit margin % - fixed costs
Market Share Equation - Answers company share/market share
Market Ratio - Answers one percentage to another (6:1)
Secondary Data - Answers collected prior to start of research; find existing data
Primary Data - Answers collect to address needs; no existing data, make own
Product Line - Answers associated items consumers tend to use together/think of as part of group
(laundry)
Product Mix - Answers all firm's products (P&G)
Product Categories - Answers specialty (jewelry), shopping (cars), convenience (grocery), unsought
(parking permit)
Breadth - Answers # of product lines (narrow/wide)
Increase Breadth - Answers add product line
Decrease Breadth - Answers remove product line
Increase Depth - Answers add product
Decrease Depth - Answers remove product
Top 5 Brands - Answers 1. Apple 2. Microsoft 3. Amazon 4. Google 5. Samsung
Brand Value - Answers facilitate purchase, establish loyalty, protect from competition and price
competition, reduce marketing costs, asset, impact market value
Brand Equity - Answers awareness and loyalty
Brand Ownership - Answers manufacturer/national brand (Nike/Coke); retail/store/private label
brand (Publix, Walmart)
Family Brand - Answers corporate name on all brands (Kraft)
Individual Brand - Answers individual entities (P&G)
Brand Dilution - Answers overuse brand, doesn't fit product
Brand Extension - Answers same name different line (Zippo perfume)
Line Extension - Answers same name same line (tostitos and dip)
Co-brand - Answers 2+ brands together (KFC+taco bell)
Brand License - Answers contract agreement where firms allow another to use brand for fee (NBA
hats)
Brand Reposition - Answers change focus to new market (Aunt Jemima)
Innovate - Answers create new product
Long-term Reasons to Innovate - Answers changed needs, market saturation, manage risk through
diversity, fashion cycle, improving business relationship
Innovation Diffusion - Answers innovators (2.5%), early adopter (13.5%), early majority (34%), late
majority (34%), laggards (16%)
Factors Affecting Innovation Diffusion - Answers relative advantage, compatability, observability,
complexity+trialability
Prototype - Answers example product
Alpha Testing - Answers testing product internally
Beta Testing - Answers testing product externally on consumer
Premarket Testing - Answers customer exposed to consumer, surveys, make decision; private
Test Marketing - Answers mini launch, more expensive, market demand estimate; public
Product Life Cycle - Answers introduction (innovators and early adopters); growth (early majority);
maturity (late maturity); decline (laggards)
STP Steps - Answers 1. establish strategy/objectives
2. use segment methods
3. evaluate segment attractiveness
4. select target market
5. identify and develop position strategy
Research Process Steps - Answers 1. define objective and research needs
2. design research project
3. data collection
