MKTG 524 EXAM 2026 STUDY GUIDE
QUESTION SET ACCURATE EVALUATION
◉ marketers have used certain demographic variables to segment
markets including:
Answer: Age and life-cycle stage
Life stage
Race and culture
Gender
Generation
Income
◉ Step 2:
marketers collect primary data through RESEARCH APPROACHES in
4 ways
Answer: Observation
Focus group
Surveys
Behavioral data
◉ The Economic Environment marketers need to be aware of:
Answer: Consumer psychology
,Income distribution
Income, savings, debt, credit
◉ gathering of 6-10 people carefully selected from demographics,
psycho graphic, or other considerations and convened to discuss
various topics at length for a small payment.
Answer: focus group
◉ Demographic Segmentation
Age and life-cycle stage
Answer: Our wants and abilities change with age
◉ Income Distribution:
4 types of industrial structures:
Answer: Subsistence economies- few mktg opp.
Raw-material-exporting economies : good markets for equipment,
tools, supplies, and luxury goods for the rich
Industrializing economies- a new rich class and a growing middle
class demand new types of goods
,Industrial economies- rich market for all sorts of goods
◉ Consumers begin to buy the product less frequently or not at all
Answer: Declining demand
◉ Step 2
Marketing researchers have a choice of 3 research instruments in
collecting primary data:
Answer: Questionnaires
Qualitative measures
Technological devices
◉ Step 2
Questionnaires:
closed in questions vs open ended questions, pg 144
Answer: closed ended questions:
(specifies all answers)
-dichotomous
, -MC
-Likert scale
-semantic differential
-importance scale
-rating scale
-intention to buy scale
open ended questions:
(allow respondent to answer in their own words)
-completely unstructured
-word association
-sentence completion
-story completion
-picture
-thematic apperception test (TAT)
◉ Income Distribution:
Marketers distinguish countries using 5 income distribution
patterns
QUESTION SET ACCURATE EVALUATION
◉ marketers have used certain demographic variables to segment
markets including:
Answer: Age and life-cycle stage
Life stage
Race and culture
Gender
Generation
Income
◉ Step 2:
marketers collect primary data through RESEARCH APPROACHES in
4 ways
Answer: Observation
Focus group
Surveys
Behavioral data
◉ The Economic Environment marketers need to be aware of:
Answer: Consumer psychology
,Income distribution
Income, savings, debt, credit
◉ gathering of 6-10 people carefully selected from demographics,
psycho graphic, or other considerations and convened to discuss
various topics at length for a small payment.
Answer: focus group
◉ Demographic Segmentation
Age and life-cycle stage
Answer: Our wants and abilities change with age
◉ Income Distribution:
4 types of industrial structures:
Answer: Subsistence economies- few mktg opp.
Raw-material-exporting economies : good markets for equipment,
tools, supplies, and luxury goods for the rich
Industrializing economies- a new rich class and a growing middle
class demand new types of goods
,Industrial economies- rich market for all sorts of goods
◉ Consumers begin to buy the product less frequently or not at all
Answer: Declining demand
◉ Step 2
Marketing researchers have a choice of 3 research instruments in
collecting primary data:
Answer: Questionnaires
Qualitative measures
Technological devices
◉ Step 2
Questionnaires:
closed in questions vs open ended questions, pg 144
Answer: closed ended questions:
(specifies all answers)
-dichotomous
, -MC
-Likert scale
-semantic differential
-importance scale
-rating scale
-intention to buy scale
open ended questions:
(allow respondent to answer in their own words)
-completely unstructured
-word association
-sentence completion
-story completion
-picture
-thematic apperception test (TAT)
◉ Income Distribution:
Marketers distinguish countries using 5 income distribution
patterns
