marketing 377 exam 1 – Flashcards
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What is the one word definition of Marketing?
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Exchange
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What is the most important word in the new definition of marketing? Why?
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Value because the company needs profit and the consumer needs value.
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What is Marketing Research?
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The process of designing, gathering, analyzing, and reporting information that may be used to solve a common marketing problem.
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In order to develop the "right strategy" to succeed in business, managers must make the right decisions; and in order to make the right decisions, they must have objective, accurate, and timely _____.
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Information
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A marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper _____.
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"mix" of product/service, price, promotion, and distribution for that market.
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Who is given credit for conducting the first continuous and organized marketing research and is also recognized today as "The Father of Marketing Research"?
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Charles Coolidge Parlin
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An annual publication that lists the top 25 global marketing research firms in the world is known as _____.
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the Honomichl Global Top 25
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The major advantage of having an internal supply of marketing research is _____.
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The staff is fully cognizant of the firm's operations and the changes in industry.
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Ful-Service supplier firms _____.
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Have the ability to conduct the entire marketing research project.
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Firms that specialize in collecting data are called _____.
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Field Service Firms
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Professional organizations try to prescribe ethical behavior for members by creating _____.
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codes of ethical behavior
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What does fruiting refer to?
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Fundraising under the guise of a survey.
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What does snugging refer to?
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Selling under the guise of a survey.
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What is the first step of marketing research?
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Situation
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What is the second step of marketing research?
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Symptoms
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What is the third step of marketing research?
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Causes
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What is the fourth step of marketing research?
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Solution
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What is the fifth step of marketing research?
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Problem Definition
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What is the sixth step of marketing research?
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Research Objectives
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When is marketing research not needed?
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Whens the costs of the research are much greater than the value of the information to be gathered.
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When a gap exists between what was suppose to happen and what did happen, it is called a _____.
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problem
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How many sources of problems are there?
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There are two sources of problems.
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Symptoms are _____.
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Changes in the level of some key monitor that measures the achievement of some objective.
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Generally speaking, the more _____ the problem the easier the researcher's task.
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specific
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A researcher and client agree that a difference of 15% is needed in the preference of an existing product and a proposed new product in order to warrant dropping the old product and producing the new one. The 15% difference in preference is called the _____.
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action standard
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Which of the following serves as the basis for marketing research objectives?
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information gaps
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Research objectives should have what qualities:
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precise, detailed, clear, and operational
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What is "set to gather specific bits of knowledge that need to be gathered in order to close information gaps"?
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research objectives
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What are the four steps of marketing research?
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Design, Gather, Analyze, Report
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What is the most important step of the 11 steps in the marketing research process?
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Step 2: Defining the Problem
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What is the first step of the marketing research process?
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Establish the Need for Marketing Research
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What is the second step of the marketing research process?
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Define the Problem
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What is the third step of the marketing research process?
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Establish Objectives
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When there is a gap between what did happen and what could have happened is called an _____.
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opportunity
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A _____ is a logical arrangement of constructs and relationships based on the theory or experience.
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conceptual model
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A _____ is an abstract idea inferred from specific instances that are thought to be related.
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construct
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Will every cause have a solution?
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No
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What should a problem statement do?
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Define the whole project
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______ is a specific number the is in the research objective.
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Action Standard
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What is a Research design?
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A set of pre made decisions that make up the master plan of the whole project in detail.
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_____ is most commonly unstructured, informal research that is undertaken to gain background information about the general nature of the research problem.
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Exploratory Research
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_____ is undertaken to describe answers to questions of who, what, when, where, and how.
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Descriptive Research
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What are the two basic classifications of Descriptive Research?
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Cross-Sectional and Longitudinal
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A _____ measures units from a sample of the population at only one point in time.
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Cross-Secitonal Study
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When the school hands out teacher evaluation surveys at the end of the semester, that is an example of what type of research?
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Cross-Sectional
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A _____ repeatedly measures the same sample units of a population over a period of time.
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Longitudinal Study
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A sample of 4,600 employees are chosen to monitor the level of happiness throughout the first year of job. A survey is sent out to them containing the same ten questions every three months. This would be an example of what study?
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Longitudinal
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A sample of 4,600 employees are chosen to monitor the level of happiness throughout the first year of job. A survey is sent out to the respondents containing the same ten questions every three months. This would be an example of what study?
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True Longitudinal
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If a panel were asked a different set of questions over a period of time, this would be an example of a _____.
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Discontinuous Panel
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If a panel were asked the same set of questions over a period of time, this would be an example of a _____.
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Continuous Panel
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In simple terms, _____, is defined as "if x then y".
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Causal Research
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When conducting Causal Research, an _____ is usually preformed.
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experiment
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_____ would an example of an experiment which would also qualify as an example of causal research.
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Test Marketing
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A _____ refers to the measurement of the dependent variable taken prior to changing the independent variable.
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Pretest
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A _____ referes to measuring the dependent variable after changing the independent variable.
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Posttest
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A ____ is a group whose subjects have not been exposed to the change in the independent variable.
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Control Group
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An _____ is a group that has been exposed to a change in the experimental variable.
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Experimental Group
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What are the four criteria for selecting test markets?
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Representativeness, Degree of Isolation, Ability to control distribution and promotion
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"Do demographics math the total market?", is an example of _____.
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Representativeness
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What are the two best places to be an ideal test market?
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Omaha Nebraska, and Demoins Iowa
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A population between _____ and _____ is ideal for a test market.
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150,000 and 1,000,000
