Marketing Decision Evaluation,
Segmentation, and New Product
Development Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
What does evaluating the results of a marketing decision involve regarding the future? - CORRECT
ANSWER Monitoring the marketplace to determine if action is necessary in the future.
What are the two aspects of the process for evaluating marketing decision results? - CORRECT
ANSWER Evaluating the decision itself and evaluating the decision process used.
In marketing experiments, what are product features, prices, or promotions considered? - CORRECT
ANSWER Independent variables.
What is a test market? - CORRECT ANSWER A controlled field experiment, such as
McDonald's testing delivery in specific cities before a wider rollout.
What are two advantages of using online surveys for data collection? - CORRECT
ANSWER Minimal cost and quicker turnaround from data collection to report presentation.
What defines a market segment? - CORRECT ANSWER A group of people who are similar in
terms of their consumption behavior.
What does market segmentation stress? - CORRECT ANSWER Grouping people to match
needs and relating them to specific marketing actions.
What question should marketers ask to assess potential cannibalization? - CORRECT
ANSWER Will new products steal sales from our old products?
What is the purpose of the five key steps in segmenting and targeting markets? - CORRECT
ANSWER To link market needs of customers to the organization's marketing program.
Segmentation, and New Product
Development Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
What does evaluating the results of a marketing decision involve regarding the future? - CORRECT
ANSWER Monitoring the marketplace to determine if action is necessary in the future.
What are the two aspects of the process for evaluating marketing decision results? - CORRECT
ANSWER Evaluating the decision itself and evaluating the decision process used.
In marketing experiments, what are product features, prices, or promotions considered? - CORRECT
ANSWER Independent variables.
What is a test market? - CORRECT ANSWER A controlled field experiment, such as
McDonald's testing delivery in specific cities before a wider rollout.
What are two advantages of using online surveys for data collection? - CORRECT
ANSWER Minimal cost and quicker turnaround from data collection to report presentation.
What defines a market segment? - CORRECT ANSWER A group of people who are similar in
terms of their consumption behavior.
What does market segmentation stress? - CORRECT ANSWER Grouping people to match
needs and relating them to specific marketing actions.
What question should marketers ask to assess potential cannibalization? - CORRECT
ANSWER Will new products steal sales from our old products?
What is the purpose of the five key steps in segmenting and targeting markets? - CORRECT
ANSWER To link market needs of customers to the organization's marketing program.
