question

Which step of the market research process involves specifying the research objectives and identifying the consumer population of interest?

answer

Defining the research problem

question

Defining the research problem is the step of the market research process that involves __________.

answer

specifying the research objectives and identifying the consumer population of interest

question

Which step of the market research process involves translating questionnaires and responses?

answer

Collecting the data

question

An example of secondary research is __________

answer

customer feedback

question

Preparing the research report is the __________ step in the market research process

answer

last

question

An example of primary research is __________.

answer

projective techniques

question

What is a market intelligence system?

answer

A method by which marketers get information about everyday happenings in the marketing environment

question

Defining the research problem is the __________ step in the market research process.

answer

first

question

Which of the following is an advantage of collecting data via an online questionnaire?

answer

No geographic restrictions

question

Which of the following is an example of secondary research?

answer

Published research

question

The technique that marketers use to generate insights for future, more rigorous studies is __________.

answer

exploratory research

question

Which of the following best describes a marketing information system (MIS)?

answer

A process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information

question

__________ is general information that specialized firms collect on a regular basis and then sell to other firms.

answer

Syndicated research

question

Identify the last step in the market research process.

answer

Preparing the research report

question

In the market research process, designing the sample is the step that occurs immediately before the step of __________.

answer

analyzing and interpreting the data

question

What is validity?

answer

The extent to which research actually measures what it was intended to measure

question

The collection, deployment, and interpretation of information that allow a business to acquire, develop, and retain its customers is known as __________.

answer

customer insights

question

A collection of raw, unorganized facts that needs to be processed is __________.

answer

data

question

Which of the following describes a process that first determines what information marketing managers need and then gathers, sorts, analyzes, stores, and distributes relevant and timely marketing information?

answer

Marketing information system (MIS)

question

What is reverse engineering?

answer

The process of physically deconstructing a competitor's product to determine how it's put together

question

Which of the following is an example of primary research?

answer

Customer interviews

question

What is the name for a technique that attempts to understand cause-and-effect relationships?

answer

Causal research

question

Which of the following describes exploratory research?

answer

A technique that marketers use to generate insights for future, more rigorous studies

question

An advantage of collecting data via an online questionnaire is __________.

answer

instantaneous data collection and analysis

question

What is market research?

answer

The process of collecting, analyzing, and interpreting data about customers, competitors, and the business environment in order to improve marketing effectiveness

question

__________ is a tool that probes more systematically into the problem and bases its conclusions on large numbers of observations.

answer

Descriptive research

question

Which of the following is a method by which marketers get information about everyday happenings in the marketing environment?

answer

Market intelligence system

question

Collecting the data is the step of the market research process that involves __________.

answer

translating questionnaires and responses

question

Identify the first step in the market research process.

answer

Defining the research problem

question

Which of the following describes a probability sample?

answer

A sample in which each member of the population has some known chance of being included

question

All of the following are sources marketing managers use to collect and analyze data within a marketing firm EXCEPT ________.

answer

the MDSS process

question

Typically, the marketing manager uses a(n) ________ to enhance the entire Management Information System (MIS).

answer

Management Decision Support System (MDSS)

question

A(n) ________ refers to the data, analysis software, and interactive software that allow managers to conduct analyses and find the information they need.

answer

marketing decision support system (MDSS)

question

________ consists of raw, unorganized facts that become ________ when they are transformed, analyzed, and interpreted.

answer

Data; information

question

________ refers to the collection, deployment, and interpretation of information that allows a business to more astutely acquire, develop, and retain its customers.

answer

Customer insight

question

________ is the collection, deployment, and interpretation of information that allows a business to acquire, develop, and retain its customers.

answer

Customer insight

question

What is the next step in the marketing research process after determining the research design?

answer

Choose the method to collect primary data.

question

There are essentially three methods or techniques to research design including exploratory, ________, and causal research.

answer

descriptive

question

In a ________ sample, some members of the population have no chance at all of being included. Thus, there is no way to ensure that the sample is representative of the population. Therefore, results from these studies can be generally suggestive of what is going on in the real world but are not necessarily definitive.

answer

nonprobability

question

Which of the following signifies an event that occurs on a Web page that indicates the meeting of a predefined goal associated with the consumer's interaction with that page?

answer

A conversion

question

What is information overload?

answer

A state in which the marketer is buried in so much data that it becomes nearly paralyzing to decide which of the data provides useful information and which does not.

question

What is marketing analytics?

answer

A group of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts.

question

What is a popular term to describe the exponential growth of data in massive amounts that are hard or impossible to process using traditional database techniques?

answer

Big Data

question

What is the second step in one-to-one marketing?

answer

Differentiate among customers.

question

Which application of data mining is in place when the firm identifies big-spending customers and then targets them for special offers and inducements other customers won't receive?

answer

Customer retention and loyalty

question

___________ are specific measures that help marketers watch the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism.

answer

Marketing metrics

question

___________ is the cost of gaining an order in terms of the marketing investment made to turn a website visitor into a customer who has chosen to make a transaction.

answer

Cost-per-order

question

Which of the following describes share of customer?

answer

The percentage of an individual customer's purchase of a product that is a single brand

question

The metric that indicates the percentage of website users who have decided to click on an ad in order to visit the website or Web page associated with it is __________.

answer

click-through

question

The collection and analysis of machine-sensed environmental data pertaining to human social behavior with the goal of identifying predictable patterns of behavior is __________.

answer

reality mining

question

What are structured data?

answer

Data that (1) is typically numeric or categorical; (2) can be organized and formatted in a way that is easy for computers to read, organize, and understand; and (3) can be inserted into a database in seamless fashion

question

Which of the following is an example of unstructured data?

answer

Video transcripts

question

What of the following describes a conversion?

answer

Signifies an event that occurs on a Web page that indicates the meeting of a predefined goal associated with the consumer's interaction with that page

question

The financial value of a customer throughout the lifetime of the relationship is __________.

answer

customer equity

question

Sentiment analysis is __________.

answer

the process of identifying one's attitude toward a brand by assessing the context or emotion of one's comments

question

What is Web scraping?

answer

The process of using computer software to extract large amounts of data from websites

question

Which of the following consists of sophisticated techniques to take advantage of the massive amount of transaction information now available?

answer

Data mining

question

In one-to-one marketing, initiating more dialogue with customers is part of the __________ step.

answer

interact

question

Which of the following is an online ad purchase in which the cost of the ad is charged only each time an individual clicks on the ad and is directed to the Web page to which the marketer linked within the ad?

answer

Cost-per-click

question

Which of the following describes customer relationship management (CRM)?

answer

A systematic tracking of consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's wants and needs

question

The elements of customer relationship management (CRM) conclude with ________.

answer

customizing aspects of goods and service

question

The financial value of a customer throughout the lifetime of the relationship is the ________.

answer

customer equity

question

Which of the following is not directly related to a competitive advantage of using Big Data?

answer

Measuring customer equity

question

Sophisticated analysis techniques that take advantage of the massive amount of transaction information now available are described as ________.

answer

data mining

question

An effective set of technologies and processes that enables marketers to collect, measure, analyze, and assess the effectiveness of marketing efforts is known as ________.

answer

marketing analytics

question

Firms are increasingly employing ________, a systematic process of ensuring one's firm comes up at or near the top of lists of typical search phrases related to the business, to increase its visibility on the Internet.

answer

search engine optimization (SEO)

question

When marketing managers want to track and measure the performance of their marketing campaigns, initiatives, and channels and, when appropriate, serve as a control mechanism for when corrective action is necessary, they use ________.

answer

marketing metrics

question

A metric often used to determine when a customer goes beyond merely visiting a webpage and which indicates reaching a predefined goal associated with the consumer's interaction with that page is referred to as ________.

answer

conversion

question

________ is a marketing metric that indicates the percentage of Web site users who have decided to click on an advertisement in order to visit the Web site or Web page associated with it.

answer

Click-through

question

A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization is a(n) __________.

answer

extranet

question

In consumer markets, __________.

answer

purchases are often based on brand reputation with little or no product expertise

question

Which of the following is true of consumer markets?

answer

Purchases are frequently made on impulse.

question

Problem recognition is the __________ step in the consumer decision-making process.

answer

first

question

Which of the following describes cognition?

answer

The knowing component of attitudes; it refers to the beliefs or knowledge a person has about a product and its important characteristics

question

With regard to Maslow's hierarchy of needs, which of the following needs describe belongingness?

answer

Love, friendship, and acceptance by others

question

How is consumer behavior best defined?

answer

The process where individuals or groups select, purchase, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires

question

__________ is a practice in which firms outsource marketing activities to a community of users.

answer

Crowdsourcing

question

Which of the following is a marketing technique that links distinct sensory experiences such as a unique fragrance with a product or service?

answer

Sensory marketing

question

What is an extranet?

answer

A private, corporate computer network that links company departments, employees, and databases to suppliers, customers, and others outside the organization

question

What is perception?

answer

The process by which people select, organize, and interpret information from the outside world

question

Which of the following scenarios is an example of the evaluation of alternatives step of the consumer decision-making process?

answer

Mishael has narrowed down her new tablet choices to two different options and is weighing the pros and cons of each tablet that she is considering buying.

question

What is the name for the individuals or organizations that buy finished goods for the purpose of reselling, renting, or leasing to others to make a profit and to maintain their business operations?

answer

Resellers

question

A straight rebuy is a ___________.

answer

buying situation in which business buyers make routine purchases that require minimal decision making

question

What is the last step in the consumer decision-making process?

answer

Postpurchase evaluation

question

__________ are the group of customers that includes manufacturers, wholesalers, retailers, and other organizations.

answer

Business-to-business (B2B) markets

question

What is the first step in the consumer decision-making process?

answer

Problem recognition

question

Searching for information is the ___________ step in the business buying decision process.

answer

second

question

Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response on its own but will cause a similar response over time because of its association with the first stimulus is known as __________.

answer

classical conditioning

question

Which of the following describes an opinion leader?

answer

One who is frequently able to influence others' attitudes or behaviors by virtue of one's active interest and expertise in one or more product categories

question

What is the mass class?

answer

The hundreds of millions of global consumers who now enjoy a level of purchasing power that's sufficient to let them afford high-quality products, excluding big-ticket items

question

What is search marketing?

answer

Marketing strategies that involve the use of Internet search engines

question

Information search is that stage of the buyer decision process in which the consumer __________.

answer

is motivated to search for more data on the product

question

In the process of making purchases, consumers go through a series of five steps. One of the following steps is not part of this sequence. Identify from the following the one task that is only a subset of another one of the steps the marketing manger would go through to make a purchase.

answer

Negotiate the price.

question

Consumer decisions differ greatly, ranging from ________ purchases, which are repeat, low-involvement purchases, to ________ purchases, which are extended problem-solving activities for important, risky, and high-involvement purchases.

answer

habitual, complex

question

Several internal factors influence consumer decisions. Which internal factor is an internal state that drives consumers to satisfy needs?

answer

Motivation

question

In addition to internal factors such as motivation and perception, influencing consumers' behavior, what other factors, including age and family lifecycle, do marketing managers use to group people according to activities, interests, and opinions that may explain their reasons for purchasing products?

answer

Psychographics

question

Consumers' buying behavior and references for certain products and brands are influenced by social and group membership influences. These range from rather wide social influence to more narrow groups that are more immediate to the consumer. Which of the following is not a social or group influence on consumer buyer behavior?

answer

motivation

question

Dimensions of the physical environment create arousal and pleasure and can determine how consumers react to the environment. Which of the following elements are considered to be situational influences on buyer behavior?

answer

time of day, the season of the year, and how much time one has

question

B2B markets include business or organizational customers who buy goods and services for purposes other than personal consumption. There are many differences between organizational and consumer markets including which one of the following factors?

answer

Demand is derived demand.

question

Business customers include producers, resellers, governments, and not-for-profit organizations. Of these business buyers, which one buys materials, parts, and various goods and services needed to produce other goods and services to be sold at a profit?

answer

Producers

question

A buying center is a group of people working together to make a buying decision. There are numerous roles in the buying center. Which person in the center controls the flow of information to others?

answer

The gatekeeper

question

What is targeting?

answer

A strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to turn them into customers

question

Which of the following is a strategy that divides the total market into different segments on the basis of customer characteristics, selecting one or more segments and developing products to meet the needs of those specific segments?

answer

Target marketing

question

What is the first step in the target marketing process?

answer

Segmentation

question

Which of the following describes an approach that modifies a basic good or service to meet the needs of an individual?

answer

Mass customization

question

Generation X is a group of consumers who __________.

answer

often have a cynical attitude toward marketing

question

What is market fragmentation?

answer

The creation of many consumer groups due to a diversity of distinct needs and wants in modern society

question

What is positioning?

answer

A strategy that influences how a particular market segment perceives a good or service in comparison with the competition.

question

What are segmentation variables?

answer

Dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences

question

What is the creation of many consumer groups due to a diversity of distinct needs and wants in modern society?

answer

Market fragmentation

question

Which of the following describes the strategy of establishing thought leadership in the form of bylines, blogs, commenting opportunities, videos, sharable social images, and infographics?

answer

Content marketing

question

When you create a __________ for a product or service, you need to develop a distinctive image that captures its character and benefits.

answer

brand personality

question

Positioning is the __________ and final step in the target marketing process.

answer

third

question

A perceptual map is a(n) __________.

answer

technique used to visually describe where brands are "located" in consumers' minds relative to competing brands

question

A differentiated targeting strategy is a strategy that __________.

answer

develops one or more products for each of several distinct customer groups and makes sure these offerings are kept separate in the marketplace

question

What is a concentrated targeting strategy?

answer

A strategy that focuses a firm's efforts on offering one or more products to a single segment

question

A usage rate is a __________.

answer

measurement that reflects the quantity purchased or frequency of use among consumers of a particular product or service

question

__________ is the use of psychological, sociological, and anthropological factors to construct market segments.

answer

Psychographics

question

Which of the following describes demographics?

answer

Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure

question

What is segmentation?

answer

The process of dividing a larger market into smaller pieces based on one or more meaningfully shared characteristics

question

Which of the following describes content marketing?

answer

The strategy of establishing thought leadership in the form of bylines, blogs, commenting opportunities, videos, sharable social images, and infographics

question

What is the name for a strategy in which marketers evaluate the attractiveness of each potential segment and decide in which of these groups they will invest resources to turn them into customers?

answer

Targeting

question

Segmentation is the __________ step in the target marketing process.

answer

first

question

A(n) __________ strategy develops one or more products for each of several distinct customer groups and makes sure these offerings are kept separate in the marketplace.

answer

differentiated targeting

question

What is the first stage in a positioning decision?

answer

Analyze competitors' positions.

question

What is the name for a strategy that influences how a particular market segment perceives a good or service in comparison with the competition?

answer

Positioning

question

If you want to visually describe where brands are "located" in consumers' minds relative to competing brands, you would create a ___________.

answer

perceptual map

question

As part of the decision-making process in positioning, marketers must define the competitive advantage, which means to __________.

answer

provide a reason why consumers will perceive the product as better than the competition

question

Which of the following describes mass customization?

answer

An approach that modifies a basic good or service to meet the needs of an individual

question

What is a target marketing strategy?

answer

Divides the total market into different segments on the basis of customer characteristics, selecting one or more segments and developing products to meet the needs of those specific segments

question

Which generation of consumers often has a cynical attitude toward marketing?

answer

Generation X

question

In which of the following strategies is the focus of a firm's efforts on offering one or more products to a single segment?

answer

Concentrated targeting strategy

question

Which of the following describes dimensions that divide the total market into fairly homogenous groups, each with different needs and preferences?

answer

Segmentation variables

question

What is the last step in the target marketing process?

answer

Positioning

question

Brand personality is __________.

answer

the development of an identity for the product market that the target market will prefer over those of competing brands

question

The process of employing a ________ marketing strategy is to balance the efficiency of mass marketing, presenting the same items to all customers with the effectiveness of offering each individual exactly what she wants with micro-marketing. This process involves three steps.

answer

target

question

In target marketing, marketers follow three distinct steps. First the manager divides the total market into different segments based on customer characteristics, and then she selects one or more segments. What is the third step in the process?

answer

Developing products to meet the needs of targeted segments.

question

In the first step in application of the target marketing strategy, the marketer must determine which segmentation variable he will use. Which one of the following variables is a commonly accepted base for segmentation of business-to-business markets?

answer

North American Industry Classification (NAICS) codes

question

Business-to-business markets are segmented by a different set of variables than consumers are. Which pair of the following are methods to segment the business-to-business market?

answer

Industrial demographics and geographic location

question

Marketers can often identify a segment to target, but that does not necessarily mean that it is a useful target. A viable target segment should satisfy several requirements, including all of the following except one. Which of one of the following factors is of very little concern to the marketer targeting a potential segment?

answer

Diversity

question

Marketers must decide on a targeting strategy and whether they should go after one total market, one or several market segments, or even target customers individually. Which approach chooses a targeting strategy that develops one or more products for each of several customer groups with different product needs?

answer

Differentiated

question

What is the final stage of developing a target marketing strategy to provide consumers, who belong to the targeted market segment, with a good or service that meets their unique needs and expectations?

answer

Positioning

question

The manufacturers of Amigo, a simple cell phone with only four buttons, was originally developed for children 8dash-12 years old. Sales were abysmal. The product was renamed Jitterbug and promoted to senior citizens as a safety tool for calling adult children or medical professionals in the event of an emergency. This action by the marketers is known as what?

answer

Repositioning

question

A company would be in the ________ stage of the positioning process if it were repositioning.

answer

evaluate responses and modify as needed

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