CIS 260 TEST 1 QUESTIONS WELL ANSWERED LATEST UPDATE 2026
P's of the marketing mix - Answers product, price, promotion, place
market research process - Answers 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 - Answers 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 - Answers research that manipulates the environment then measures the
effects, seeks causal relationships
non-experimental research - Answers 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 - Answers original research conducted for a specific marketing situation
secondary research - Answers past research which has already been performed and often already
published
census - Answers a complete canvas, count, or survey of an entire population that is being studied
sample - Answers allows researcher sot gather information from only a part of the population
differentiated marketing - Answers a market-coverage strategy in which a firm decides to target
several market segments and designs separate offers for each
undifferentiated marketing - Answers 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 - Answers 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 - Answers cluster analysis, preference-based segmentation,
response-based segmentation
cluster analysis - Answers 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 - Answers 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 - Answers a process that uses customers past purchases to determine
how they will respond to future marketing actions and new products
customer centricity - Answers a business practice that focuses on meeting customers needs rather
than only selling products or services
customer centricity activities - Answers coordination, cooperation, compatibility, connection
coordination - Answers establishing structural mechanisms that allow employees to improve their
focus on their customers
cooperation - Answers encourages all workers of a company to work together to meet customer
needs
compatibility - Answers ensuring that enough people in a company have the skills necessary to
deliver customer-focused solutions
connection - Answers developing relationships with external partners to make increasing the value of
solutions more cost-effective
factors that influence target market selection - Answers competition, segment characteristics,
company fit
brand asset - Answers any aspect of a brand that has strategic value, which may include brand
associations, brand attributes, brand awareness, or brand loyalty (ex: nike swoosh, aflac duck)
qualitative research - Answers research that generates information that can be observed but not
measured
quantitative research - Answers research that provides numerical data that can be used to find
patterns and averages. or make predictions
STP process - Answers segmentation, targeting, positioning
segmentation variables - Answers geographic, demographic, psychographic, behavioral
directives of brand equity - Answers make brand decisions subservient to decisions about customer
relationships
P's of the marketing mix - Answers product, price, promotion, place
market research process - Answers 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 - Answers 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 - Answers research that manipulates the environment then measures the
effects, seeks causal relationships
non-experimental research - Answers 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 - Answers original research conducted for a specific marketing situation
secondary research - Answers past research which has already been performed and often already
published
census - Answers a complete canvas, count, or survey of an entire population that is being studied
sample - Answers allows researcher sot gather information from only a part of the population
differentiated marketing - Answers a market-coverage strategy in which a firm decides to target
several market segments and designs separate offers for each
undifferentiated marketing - Answers 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 - Answers 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 - Answers cluster analysis, preference-based segmentation,
response-based segmentation
cluster analysis - Answers 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 - Answers 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 - Answers a process that uses customers past purchases to determine
how they will respond to future marketing actions and new products
customer centricity - Answers a business practice that focuses on meeting customers needs rather
than only selling products or services
customer centricity activities - Answers coordination, cooperation, compatibility, connection
coordination - Answers establishing structural mechanisms that allow employees to improve their
focus on their customers
cooperation - Answers encourages all workers of a company to work together to meet customer
needs
compatibility - Answers ensuring that enough people in a company have the skills necessary to
deliver customer-focused solutions
connection - Answers developing relationships with external partners to make increasing the value of
solutions more cost-effective
factors that influence target market selection - Answers competition, segment characteristics,
company fit
brand asset - Answers any aspect of a brand that has strategic value, which may include brand
associations, brand attributes, brand awareness, or brand loyalty (ex: nike swoosh, aflac duck)
qualitative research - Answers research that generates information that can be observed but not
measured
quantitative research - Answers research that provides numerical data that can be used to find
patterns and averages. or make predictions
STP process - Answers segmentation, targeting, positioning
segmentation variables - Answers geographic, demographic, psychographic, behavioral
directives of brand equity - Answers make brand decisions subservient to decisions about customer
relationships
