Marketing 2 quiz – Flashcards
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The first thing a marketing manager should do if one of his firm's products drops in sales volume is:
answer
define the problem.
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Marketing research:
answer
is likely to be more effective when guided by the strategy planning framework.
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Data which have already been collected in a previous study are called __________ data, while data that are generated by a phone survey this month of key customers are called _______ data.
answer
secondary; primary
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Which of the following is NOT a good example of the observation method of marketing research?
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The manager of a supermarket occasionally walks through the store to see what customers are doing.
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The response rate to a survey affects:
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how representative the sample is.
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Product" means:
answer
the need-satisfying offering of a firm.
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If a brand consistently delivers on a promise that purchasers consider important, those purchasers are likely to develop a _______ for the brand.
answer
) trust
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Nonrecognition of the brand name of a firm's product is likely to be LEAST important for:
answer
Coal
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If members of the target market for an Apple iPad do not initially recognize the brand name, but compelling advertising results in more members remembering the brand, we say the Apple iPad has achieved:
answer
brand recognition.
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Which of the following statements about the Lanham Act is TRUE?
answer
It spells out what kinds of brand names can be protected.
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Dealer brands, compared to manufacturer brands, usually offer wholesalers and retailers:
answer
higher gross margins.
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If a consumer product is used regularly and usually bought frequently and routinely with little thought (although branding may be important), this product is:
answer
a staple product.
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Having a competitive price is likely to:
answer
be more important for a homogeneous shopping product than for a specialty product.
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Regarding the demand for business products,
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Demand for business products is derived from the demand for final consumer products.
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In which of the following situations is the new product entering the MARKET INTRODUCTION stage of the product life cycle?
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Apple just introduced a computer operating system that is so "user-friendly" it responds to spoken commands.
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Regarding product life cycles, good marketing managers know that:
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industry profits reach their maximum during the market growth stage.
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Marketing managers should recognize that:
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firms that enter mature markets have to compete with established firms for declining industry profits.
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Regarding product life cycles, good marketing managers know that:
answer
a firm's product can be withdrawn before its related product life cycle is over.
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According to the FTC, for a producer to call a product "new," the product:
answer
must be entirely new or changed in a functionally significant or substantial respect.
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The new-product development process discussed in the text:
answer
is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible.
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Regarding the idea generation stage of the new-product development process, which of the following is TRUE?
answer
Business firms often get new product ideas from competitors.
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PepsiCo is evaluating an idea for a new "clear cola" by using focus groups made up of young adults to suggest brand names for the proposed product. This is an example of:
answer
concept testing.
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Strategy "Place" decisions would NOT include:
answer
how to train wholesalers' salespeople
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A disadvantage of direct-to-customer channels is that they:
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None of these is a disadvantage of direct-to-customer channels.
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Which of the following best illustrates adjusting "discrepancies of assortment?"
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A hardware store sells all the hardware items wanted by most people.
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When an online intermediary like Hulu scans thousands of hours of programming each week and groups these programs into categories of digital programs (e.g. sports, crime, etc.), this is an example of:
answer
Sorting
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Marketing research:
answer
is needed to keep marketing managers in touch with their markets
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A complete marketing information system:
answer
is organized to continually gather data from internal and external sources, including market research studies.
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An outside sales force can provide customers with up-to-date inventory levels, product prices, delivery dates, and so forth by accessing information on the firm's own:
answer
intranet.
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Which of the following is most consistent with the scientific method approach to marketing research discussed in the text?
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"Sometimes the answers from the early stages of the research process are good enough so we stop the research and make our decisions."
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The first thing a marketing manager should do if one of his firm's products drops in sales volume is:
answer
define the problem.
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Data which have already been collected in a previous study are called __________ data, while data that are generated by a phone survey this month of key customers are called _______ data.
answer
secondary; primary
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Which of the following is NOT a good example of the observation method of marketing research?
answer
The manager of a supermarket occasionally walks through the store to see what customers are doing.
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question
The response rate to a survey affects:
answer
how representative the sample is.
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question
Product" means:
answer
the need-satisfying offering of a firm.
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If a brand consistently delivers on a promise that purchasers consider important, those purchasers are likely to develop a _______ for the brand.
answer
trust
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Nonrecognition of the brand name of a firm's product is likely to be LEAST important for:
answer
Coal
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question
If members of the target market for an Apple iPad do not initially recognize the brand name, but compelling advertising results in more members remembering the brand, we say the Apple iPad has achieved:
answer
brand recognition.
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Which of the following statements about the Lanham Act is TRUE?
answer
It spells out what kinds of brand names can be protected.
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question
Dealer brands, compared to manufacturer brands, usually offer wholesalers and retailers:
answer
higher gross margins.
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question
If a consumer product is used regularly and usually bought frequently and routinely with little thought (although branding may be important), this product is:
answer
a staple product.
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question
Having a competitive price is likely to:
answer
be more important for a homogeneous shopping product than for a specialty product.
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question
Regarding the demand for business products,
answer
Demand for business products is derived from the demand for final consumer products.
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In which of the following situations is the new product entering the MARKET INTRODUCTION stage of the product life cycle?
answer
Apple just introduced a computer operating system that is so "user-friendly" it responds to spoken commands.
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question
Regarding product life cycles, good marketing managers know that:
answer
industry profits reach their maximum during the market growth stage.
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question
Marketing managers should recognize that
answer
firms that enter mature markets have to compete with established firms for declining industry profits.
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question
Regarding product life cycles, good marketing managers know that:
answer
a firm's product can be withdrawn before its related product life cycle is over.
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question
According to the FTC, for a producer to call a product "new," the product:
answer
must be entirely new or changed in a functionally significant or substantial respect.
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question
The new-product development process discussed in the text:
answer
is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible.
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question
Regarding the idea generation stage of the new-product development process, which of the following is TRUE?
answer
Business firms often get new product ideas from competitors.
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PepsiCo is evaluating an idea for a new "clear cola" by using focus groups made up of young adults to suggest brand names for the proposed product. This is an example of:
answer
concept testing.
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Strategy "Place" decisions would NOT include:
answer
how to train wholesalers' salespeople
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Which of the following best illustrates adjusting "discrepancies of assortment?
answer
A hardware store sells all the hardware items wanted by most people.
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When an online intermediary like Hulu scans thousands of hours of programming each week and groups these programs into categories of digital programs (e.g. sports, crime, etc.), this is an example of:
answer
Sorting
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Every morning, Sycamore Dairy picks up milk which farmers have "milked" that morning. The dairy processes the milk and separates the cream from the milk. Some of the cream is made into butter and packaged in various sizes. The milk and remaining cream are blended into various products, sealed in pint, quart and half-gallon containers, and delivered to supermarkets in the quantities and assortments they want. The dairy is providing what regrouping activity?
answer
All of these regrouping activities are being provided by Sycamore Dairy ( Assorting, Accumulating, Sorting, Bulk-breaking)
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From a producer's viewpoint, which of the following is an advantage of INTENSIVE DISTRIBUTION over selective distribution?
answer
Intermediaries' facilities will be more convenient for customers.
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Distribution agreements which limit sales by customer or territory:
answer
are definitely illegal if they are horizontal agreements among competing producers or intermediaries, but may be legal if they are vertical agreements.
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In Europe, auto manufacturers are required by law to allow owners of their brands to give the cars back to the manufacturers at the end of their useful life. The manufacturers must then recycle and reuse at least 85 percent of any vehicle made after 2004. This is an example of a(n):
answer
Take back law
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Which of the following is typically the lowest risk approach for moving into international markets?
answer
exporting
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To minimize its own risks, the Boomtown Petroleum Corp. of Houston, Texas, operates a South American oil refinery that is owned by residents of that country. Boomtown is engaged in an activity known as:
answer
management contracting.
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About what percentage of the cost of health care supplies in the U.S. are a result of logistics?
answer
33 percent
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When planning physical distribution, the marketing manager should:
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minimize the cost of distribution for a given customer service level.
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The "total cost approach" to physical distribution management:
answer
might suggest a high-cost transporting mode if storing costs could be reduced enough to lower total distribution costs.
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A supply chain:
answer
requires skill in coordinating activities among different firms, and this has prompted many firms to seek help from outside experts.
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The transporting function adds value by:
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making products available when AND where they're needed.
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Regarding railroads,
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full carload rates are lower than less-than-carload rates.
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Which of the following transportation modes is "best" at handling a variety of goods?
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Water
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When Sony manufactures and packages DVD players in Japan, stores them in large 8'x8'x20' "boxes," and then ships these boxes to Los Angeles by boat, this is an example of:
answer
Containerization
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A cheese processor having regular need for regional storage of a large quantity of cheese probably should use ______________ warehouses.
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private
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Compared to a warehouse, a DISTRIBUTION CENTER is:
answer
set up to speed the flow of products toward the consumer.
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A "good" retail strategy planner knows that:
answer
the failure rate among beginning retailers is quite high.
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When the manager of a RadioShack electronics store decides to offer a store credit card (RadioShack VISA), this is a decision about:
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Price
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A typical problem for limited-line retailers is that:
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many of the items they carry are slow moving.
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Regarding supermarkets, which of the following is NOT true?
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After-tax profits are very good--averaging 10 to 15 percent of sales.
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The retailer L.L. Bean uses a multichannel approach by adding ___________ to its catalog
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a website
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Regarding wholesaling, which of the following is(are) true?
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Merchant wholesalers have higher sales than agent wholesalers, but their costs (as a percent of sales) are over three times as high.
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8. Which of the following wholesalers own (take title to) the products they sell?
answer
None of these wholesalers owns the products they sell.
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Debbie Wood sells food products to grocery wholesalers and large supermarket chains in Tallahassee. She sells for several manufacturers with noncompeting lines of food products--earning a 5 percent sales commission. She neither handles nor owns the products she sells. Debbie is a:
answer
manufacturers' agent.
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A producer is most likely to use a "selling agent" if:
answer
he lacks marketing know-how and working capital.
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Procedures that develop and analyze new information to help marketing managers make decisions are called:
answer
marketing research.
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_____ refers to the procedures that develop and analyze new information about a market.
answer
Marketing research
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________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.
answer
Marketing research
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Marketing research:
answer
is needed to keep marketing managers in touch with their markets.
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Identify the INCORRECT statement about marketing research.
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Most small companies have a separate marketing research department.
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Marketing research:
answer
can get changing information that is not available in the MIS.
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A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.
answer
marketing information system
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Regarding a marketing information system (MIS):
answer
Although not every firm has one, MIS use is growing rapidly.
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A complete marketing information system:
answer
is organized to continually gather data from internal and external sources, including market research studies.
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Regarding "marketing research" and "marketing information systems":
answer
marketing information systems make information more available and more accessible.
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Setting up a marketing information system can be valuable to marketing managers because
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most companies have much useful information, but it often isn't available or accessible when the manager needs it.
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Which of the following observations about the use of a marketing information system (MIS) is FALSE?
answer
An MIS identifies problems that need solving
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A marketing information system (MIS) includes all of the following except:
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Internet support systems.
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Managers at Wayzata Communications, an Internet service provider, want access to a continual flow of information about their market -- available whenever they need it. Wayzata managers need a(n)
answer
marketing information system.
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Which of the following statements about intranets is NOT TRUE?
answer
Access to websites on an intranet is unrestricted.
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An outside sales force can provide customers with up-to-date inventory levels, product prices, delivery dates, and so forth by accessing information on the firm's own:
answer
intranet
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Reshma Ananda, a marketing manager for the Grocery SuperStore retail chain, fired up a computer program that gave her ready access to information about product availability and customer buying. The program helped her immediately set prices for bananas and cherries. This type of computer program is called ______.
answer
a decision support system
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A decision support system
answer
makes it easy for a marketing manager to get and use information as s/he is making decisions.
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Juan Quito, marketing manager at Branded Food Co., reviewed his ______, the up-to-the- minute marketing data on his computer screen. It was organized in an easy-to-read format and customized to his area of responsibility.
answer
marketing dashboard
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At Verizon Communications, a marketing manager can view up-to-date marketing data that has been customized to fit his area of responsibility by using a:
answer
marketing dashboard.
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A marketing model is a
answer
statement of relationships among marketing variables.
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A decision-making approach that focuses on being objective and orderly in testing ideas before accepting them is the:
answer
scientific method.
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The _____ is a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them.
answer
scientific method
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The scientific method
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is an orderly and objective approach to judging how good an idea really is.
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The scientific method in marketing research
answer
forces an orderly research process.
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Educated guesses about the relationships between things or about what will happen in the future are:
answer
hypotheses.
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Identify the correct sequence in the marketing research process.
answer
Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem.
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Which of the following is NOT part of the five-step marketing research process discussed in the text?
answer
Writing the proposal
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Which of the following is NOT part of the five-step marketing research process discussed in the text?
answer
Developing the marketing information system (MIS)
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Which of the following is most consistent with the scientific method approach to marketing research discussed in the text?
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"Sometimes the answers from the early stages of the research process are good enough so we stop the research and make our decisions."
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Regarding marketing research,
answer
a good researcher will understand the marketing problem as well as the technical details of marketing research.
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Which of the following statements BEST reflects the point of view of the text with respect to marketing research?
answer
"When we work with outside marketing research specialists, we expect them to take the time to really understand the problem we are trying to solve."
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What is the first step in the marketing research process?
answer
Defining the problem
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Often the most difficult step in the marketing research process is:
answer
defining the problem.
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Which of the following statements about the marketing research process is NOT TRUE?
answer
Defining the problem is important because this decision will remain unchanged throughout the process.
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Marketing research:
answer
is likely to be more effective when guided by the strategy planning framework.
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Regarding the marketing research process, defining the problem
answer
may have to wait until after a situation analysis has been completed.
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_____ is an informal study of what information is already available in the problem area.
answer
Situation analysis
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A situation analysis
answer
can help define the problem.
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During a "situation analysis," a marketing researcher should:
answer
study what information is already available.
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Which of the following statements about doing a situation analysis is correct?
answer
It doesn't make sense to start a situation analysis until the problem has begun to surface.
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When a marketing manager searches the Internet to find information about a research problem, this is an example of a(n):
answer
situation analysis.
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When a marketing manager scans a firm's MIS to try to obtain information about why the firm's product sales are down, this is an example of a(n):
answer
situation analysis.
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When a marketing manager has phone conversations with key wholesalers of the firm's products to try to obtain information about why the firm's product sales are down, this is an example of a(n):
answer
situation analysis.
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Which of the following statements about a situation analysis is False?
answer
A situation analysis is mainly a study of new information that is not already available.
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A company that sells equipment through independent wholesalers wants to find out why sales are down in one region. An analyst is asked to interview the wholesaler in that region. This seems to be
answer
part of a situation analysis.
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A marketing manager wants to know why her sales are down. She talks with several sales reps and finds that a competitor has introduced a successful new product. This "research" seems to be part of
answer
the situation analysis.
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Data that has already been collected or published is:
answer
secondary data.
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Which of the following statements concerning secondary data is correct?
answer
Secondary data was originally collected for some other purpose.
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Data which have already been collected in a previous study are called __________ data, while data that are generated by a phone survey this month of key customers are called _______ data.
answer
secondary; primary
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All of the following are examples of secondary data sources EXCEPT:
answer
a phone survey this month of past customers.
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The marketing manager at Massimino and McCarthy, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?
answer
Looking through the company's marketing information system to see past sales trends.
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Which of the following statements about using the Internet to gather secondary information is FALSE?
answer
Information on the Internet is readily available and very reliable.
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Secondary data from federal government sources
answer
is often very helpful for estimating the size of a market.
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A good place for a marketing analyst to START looking for published statistical data is the:
answer
Statistical Abstract of the United States.
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The Statistical Abstract of the United States is a useful summary reference of the U.S. market prepared by the:
answer
U.S. Census Bureau.
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A situation analysis
answer
can be very informative, but takes little time.
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Which of the following statements about secondary data is correct?
answer
Secondary data may be available much faster than primary data.
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Which of the following is most consistent with the marketing research process discussed in the text?
answer
"Secondary data is often all we need to solve our problems."
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Which of the following statements about doing a situation analysis is correct?
answer
Doing a good situation analysis is usually much less expensive than collecting primary data.
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A fast-food chain is redesigning its restaurants. One of the main questions facing the chain's management is, "Should the new restaurant design include a salad bar?" A researcher in the company finds an article in a restaurant trade magazine containing the results of a study about salad bars. The results indicate that salad bars are costly to maintain and are not a major attraction to consumers. Based on this information, management decides that it will not have a salad bar as part of the new restaurant design. This example illustrates the point that:
answer
Situation analysis sometimes eliminates the need for conducting further research in a problem area.
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Which of the following is probably NOT a part of a situation analysis?
answer
A computer company asks ten lawyers to participate in a focus group on how they use computers.
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A research proposal
answer
specifies what information will be obtained and how.
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The research proposal may include information about all of the following except
answer
what the possible solutions are.
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Which of the following is NOT likely to be included in a research proposal?
answer
Preliminary recommendations on how to solve the problem.
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____ is an example of a primary data source.
answer
Observation
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Which of the following would be a source of primary data?
answer
Market tests.
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Which of the following would NOT be a source of primary data?
answer
The Wall Street Journal
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The two basic methods for obtaining primary information about customers are
answer
questioning and observing.
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Qualitative research, compared to quantitative research:
answer
Relies on open-ended questioning
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"Qualitative research" involves:
answer
questioning to obtain in-depth open-ended responses.
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The big advantage of qualitative research in marketing is:
answer
the in-depth responses it provides.
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_____ are one widely used form of qualitative questioning in marketing research.
answer
Focus group interviews
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Focus groups
answer
stimulate discussion among participants.
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With focus group interviews,
answer
the objective is to get the group to interact, so that many ideas are generated.
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A consumer products manufacturer wants consumer reaction to its existing products. Interaction is considered important to stimulate thinking. The firm should use:
answer
focus group interviews.
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Focus groups:
answer
Yield results that are largely dependent on the viewpoint of the researcher.
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One of the major disadvantages of the focus group interview approach is that
answer
it is difficult to measure the results objectively.
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Marketing research which seeks structured responses that can be summarized is called:
answer
quantitative research.
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Which of the following is a disadvantage of quantitative research (compared to qualitative research)?
answer
It is harder to get in-depth answers.
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Wizard Toy Company's marketing researcher conducted a survey to find out the percentage of customers who, after receiving a promotional mailing about a new toy, actually went out and purchased the product. This is an example of
answer
quantitative research.
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A marketing researcher wants to get sensitive information about family spending patterns as part of a survey. He is most likely to get the needed information
answer
with a mail, e-mail, or online survey.
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Which of the following is NOT an advantage of mail surveys as a method of quantitative research?
answer
High response rates.
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A marketing researcher wants to do a survey to probe in-depth consumer attitudes about their experiences with the company's products. He is LEAST likely to get what he wants if he uses:
answer
a mail survey.
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The percent of people contacted in a survey who complete a questionnaire is the:
answer
response rate.
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Which of the following is NOT an advantage of telephone surveys?
answer
They are especially good for getting confidential and personal information.
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Which method of quantitative research would probably produce the best results when the questions are simple and require only quick "yes" or "no" answers?
answer
Telephone interviews.
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Which method of data collection is typically best when you want respondents to quickly answer a small number of fairly simple questions?
answer
Telephone
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Which of the following is usually the most expensive way to collect data from consumers?
answer
Personal interviews
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Business market researchers commonly use ______________ because of their flexibility.
answer
personal interviews
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Why are personal interviews usually preferred for research with business customers?
answer
The interviewer can explain complicated directions and perhaps get better responses
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Which variation of personal interview surveys helps reduce the cost of locating consumer respondents?
answer
Mall intercept interviews
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The observing method in marketing research:
answer
is used to gather data without consumers being influenced by the process.
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What would be the best way for the marketing manager of a supermarket to find out how consumers move through the store?
answer
Observe customers with hidden cameras.
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Which of the following is NOT a good example of the observation method of marketing research?
answer
The manager of a supermarket occasionally walks through the store to see what customers are doing.
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In a grocery store's "valued customer" program, every shopper gets a card that he/she presents to the clerk in the checkout aisle. The card is scanned along with the customer's groceries. The store's computer system tracks each shopper's purchases and automatically provides special valued customer discounts. Every month, the customers in the program receive a newsletter containing coupons that are based on the customer's purchase history. For example, someone purchasing a lot of baby formula and disposable diapers might get a coupon for a free box of baby wipes. This valued customer program is based to a large extent on which of the following types of research?
answer
Observation.
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When a Walmart clerk checks out a customer by scanning the bar codes of items in the customer's shopping basket, this is an example of what type of research?
answer
Observation
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Information is obtained on a continuing basis from the same respondents using a:
answer
consumer panel.
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Joy Rinaldo has agreed to participate in marketing research in which she will provide information about her purchases on an ongoing basis. She is probably part of a:
answer
consumer panel.
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Whenever John shops for groceries, he gives an ID card to the clerk, who scans the number. Then the scanner records every purchase-- including brands, sizes, prices, and any coupons used. John is most probably a
answer
consumer panel member.
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The ______________ method is an information gathering method in which the responses of groups which are similar--except on the characteristic being tested--are compared.
answer
experimental
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When using __________, researchers compare the responses of two or more groups that are similar except on the characteristic being tested.
answer
experimental method
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Two similar groups of consumers are shown different magazines which include the same ad. Then each consumer is asked questions about the advertised product. This seems to be a description of
answer
the experimental method.
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A marketing manager wants to know if a "2 for 1" coupon will attract new customers. He will get the most persuasive results if he uses
answer
an experimental method in which only some consumers get the coupon and the purchases of the two groups (with and without coupons) are compared.
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Test-marketing is an example of a(n):
answer
Experiment.
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The Cereal Bar, a fast-food restaurant that sells breakfast cereal, wanted to see if a different price for its Wild O's breakfast special would affect demand. So the marketing manager used ________ when she tested two different prices at two different stores and compared sales.
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test-marketing
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______ research accounts for about 40 percent of marketing research spending.
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Syndicated
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Which of the following statements about the cost and value of information is False?
answer
The cost of gathering additional information is always justified by its value.
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Statistical packages are:
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easy-to-use computer programs that analyze data.
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This frequently used approach for analyzing and interpreting marketing research data shows the relationship of answers to two different questions.
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Cross-tabulation
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The total group a survey researcher is interested in is called the:
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population.
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The part of the relevant population that is surveyed by a researcher is called the:
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sample
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The response rate to a survey affects
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how representative the sample is.
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Regarding an estimate from a survey, the range on either side of the survey result that is likely to contain the "true" value of the relevant population is called:
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confidence interval.
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By computing confidence intervals a researcher can:
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estimate how precise her research results are likely to be
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______________ is concerned with whether the research data measures what it is intended to.
answer
Validity
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_________ concerns the extent to which data measures what it is intended to measure.
answer
validity
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Regarding international marketing research:
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Accurate data (both primary and secondary data) may be hard to find in international markets.
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