mkg 300 – Flashcard
Unlock all answers in this set
Unlock answersquestion
Identify the INCORRECT statement about marketing research.
answer
Small companies usually don't have separate marketing research departments. They often depend on their salespeople or managers to conduct research.
question
Marketing research:
answer
can provide new information that is not routinely available through the firm's MIS.
question
Marketing information systems rely heavily on:
answer
MIS make sure they can access information to guide marketing strategy planning or implementation and control.
question
A __________ is an organized way of continually gathering, accessing, and analyzing information that marketing managers need to make ongoing decisions.
answer
marketing information system
question
A complete marketing information system should:
answer
A continual flow of information is available and quickly accessible from an MIS
question
Big data does not comes from which of the following sources
answer
The explosion of data comes as organizations collect and store more information from internal sources (for example, e-mails, spreadsheets, documents, financial reports, and clickstreams—which track customers as they move through a company's website), external sources (for example, from government sources like the U.S. Census, social media websites like Facebook and LinkedIn, and digital sensors which can be found on industrial equipment, automobiles, and shopping crates) and market research studies (for example, previously conducted surveys, experiments, or other reports).
question
When getting information for marketing decisions, the marketing manager:
answer
make decisions based on their own judgment with very little hard data, but changes are under way.
question
marketing research
answer
Marketing research develops and analyzes new information about a market.
question
Setting up a marketing information system can be valuable to marketing managers because
answer
can provide a continual flow of information that is available and quickly accessible when it's needed.
question
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
answer
Marketing information system
question
Which of the following statements about intranets is NOT TRUE?
answer
To maintain security, access to websites or data on an intranet is restricted. Access is usually limited to employees
question
A decision support system
answer
is a computer program that makes it easy for a marketing manager to get and use information as he or she is making decisions.
question
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 dashboards
question
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 dashboards
question
Marketing Dashboards
answer
display up-to-the-minute marketing data in an easy-to-read format. They are usually customized to a manager's areas of responsibility.
question
The _____ is a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them.
answer
Scientific method
question
The scientific method in marketing research
answer
is a decision-making approach that focuses on being objective and orderly in testing ideas before accepting them.
question
Which of the following statements accurately describes the collaboration between marketing managers and market researchers?
answer
Marketers explain real marketing problems and request information from researchers; Researchers conduct tests that provide information to marketers.
question
Regarding marketing managers and the development of market research:
answer
Marketing managers must be able to explain what their problems are and what kinds of information they need. They should be able to communicate with specialists in the specialists' language. Marketing managers may only be "consumers" of research. But they should be informed consumers—able to explain exactly what they want from the research. They should also know about some of the basic decisions made during the research process so they know the limitations of the findings.
question
Regarding the marketing research process, defining the problem
answer
A list of research questions that includes all the possible problem areas can be developed. Then, a situation analysis is carried out before narrowing down to final research objectives.
question
situation analysis
answer
is an informal study of what information is already available in the problem area.
question
Which of the following statements about doing a situation analysis is correct?
answer
When a marketing manager thinks the real problem has begun to surface, a situation analysis is useful. A situation analysis is an informal study of what information is already available in the problem area.
question
When a marketing manager searches the Internet to find information about a research problem, this is an example of a(n):
answer
The situation analysis
question
Data that has already been collected or published is:
answer
Secondary data
question
Which of the following statements concerning secondary data is correct?
answer
Data which have already been collected in a previous study are called secondary data.
question
Secondary data
answer
refers to information that has been collected or published already.
question
Which of the following statements about using the Internet to gather secondary information is FALSE?
answer
It is known that a treasure trove of useful information is found on the Internet. But all the available information is not reliable. Anyone can post anything on the Internet.
question
A good place for a marketing analyst to START looking for published statistical data is the:
answer
The Statistical Abstract of the United States provides a summary of statistics on the social, political, and economic organization of the United States. It is issued annually and can also be accessed online.
question
A situation analysis
answer
The virtue of a good situation analysis is that it can be very informative but takes little time or money.
question
Which of the following statements about secondary data is correct?
answer
readily available from many sources and can be extracted faster than primary data.
question
Which of the following is NOT likely to be included in a research proposal?
answer
refers to a plan that specifies what information will be obtained and how. It includes information about costs, data collection, data analysis, and processing time. It does not include possible solutions
question
are examples of a primary data source.
answer
Questioning & Observing
question
The two basic methods for obtaining primary information about customers are
answer
questioning and observing. Questioning can range from qualitative to quantitative research. There are many kinds of observing.
question
For marketers, the purpose of gathering primary data is usually:
answer
the researcher tries to learn what customers think about some topic or how they behave under some conditions.
question
When seeking problem-specific data through qualitative research, the researcher:
answer
seeks in-depth, open-ended responses, not yes or no answers. The researcher tries to get people to share their thoughts on a topic—without giving them many directions or guidelines about what to say
question
In quantitative research, it is common for researchers to ask questions and offer a variety of fixed answers from which to choose-such as multiple-choice questions. This approach is advantageous for all the following reasons except: .
answer
is that it is based upon structured responses that have the potential to limit respondents to fixed answers that may not reflect their own experiences and opinions.
question
The big advantage of qualitative research in marketing is:
answer
Qualitative research seeks in-depth, open-ended responses. The real advantage of this approach is depth.
question
_____ is one widely used form of qualitative questioning in marketing research.
answer
focus group interview
question
Focus groups
answer
a form of qualitative questioning, uses open-ended questions; group interaction is preferred to stimulate thinking and get immediate reactions.
question
When focus group interviews are used in marketing,
answer
conclusions reached from a session usually vary depending on who watches it. It's hard to measure the results objectively
question
Which of the following is a disadvantage of quantitative research (compared to qualitative research)?
answer
Qualitative research seeks in-depth, open-ended responses, not yes or no answers; quantitative research seeks structured responses.
question
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 are popular; they are effective for getting quick answers to simple questions.
question
Which variation of personal interview surveys helps reduce the cost of locating consumer respondents?
answer
interviews are sometimes done at a store or shopping mall; this is called a mall intercept interview which is a variation of personal interview survey.
question
The observing method in marketing research:
answer
researchers try to see or record what the subject does naturally. They don't want the observing to influence the subject's behavior.
question
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 method of quantitative research.
question
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
experimental method
question
______ research accounts for about 40 percent of marketing research spending.
answer
syndicated
question
From a marketing perspective, product quality primarily depends on, .
answer
by how customers view the product. From a marketing perspective, quality means a product's ability to satisfy a customer's needs or requirements.
question
"Product" means:
answer
physical good, a service, or a blend of both. The idea of "Product" as potential customer satisfaction or benefits is very important.
question
Services
answer
are not physical products, they are intangible. They cannot be stored, but only experienced, used, or consumed. They often have to be produced in the presence of the consumer.
question
Vision Co. manufactures and sells tea, coffee, desserts, shoes, and sporting goods. All of these products are its
answer
A product assortment is the set of all product lines and individual products that a firm sells.
question
The set of laptop computers sold by Dell is called a(n)
answer
A product line
question
Which of the following is a benefit of branding from the perspective of the manufacturer?
answer
a good brand reduces the marketer's selling time and effort. Good brands can also improve the company's image and speed acceptance of new products marketed under the same name.
question
A trademark
answer
includes only those words, symbols, or marks that are legally registered for use by a single company.
question
Which of the following is NOT favorable to successful branding?
answer
Favorable shelf locations or display space in stores
question
Which of the following would be favorable for successful branding?
answer
Having a product that is easy to label and identify by brand or trademark
question
_____ can help create brand recognition, but only _____ can create brand insistence.
answer
Advertising can help boost brand recognition, but only satisfying experiences can create brand insistence among customers. ADVERTISING & SATISFYING
question
Darrell Everwine read a review about a new computer program that appealed to him very much. He decided to try to find the program. However, the new program was in short supply—although other brands with similar features were available. Darrell had to try seven shops before he finally found the program in stock. For Darrell, this program achieved brand:
answer
Brand insistence means customers insist on a firm's branded product and are willing to search for it.
question
Which of the characteristics of a good brand name is missing in the following proposed name: "Gnucheo" candy?
answer
A brand name should be easy to pronounce
question
The law which focuses on the protection of trademarks and brand names is
answer
The Lanham Act of 1946
question
Which of the following statements about the Lanham Act is TRUE?
answer
spells out what kinds of marks including brand names can be protected and the exact method of protecting them. The law applies to goods shipped in interstate or foreign commerce how brand names can be protected
question
A trademark or brand name can become public property if:
answer
see that its brand doesn't become a common descriptive term for its kind of product. becomes public property and the owner loses all rights to it.
question
When a company decides to use the same brand name for several products, it is a(n)
answer
family brand
question
Vision Co. manufactures and sells tea, coffee, desserts, shoes, and sporting goods—all under the Vision brand name. These products are
answer
family brand.
question
Fresher Foods Co. manufactures and sells a variety of dairy products under the Fresh Farm brand name. It decides to introduce a new line of organic jams and preserves under the Tru Flavor Preserves brand name. For its new line, Fresher Foods is using ______.
answer
individual brands
question
Dealer brands (private brands) have the following advantages over manufacturer brands except:
answer
lower prices, but often create an image of cheapness--mediocre quality
question
All of the following are examples of dealer brands EXCEPT:
answer
mcdonalds is a manufacture brand
question
examples of dealer brands
answer
craftsman and kenmore sears primp taglio priority pet (safeway) Up & Up (target) Sam's choice walmart
question
Which of the following qualities of packaging would not be likely to turn a casual customer into a loyal buyer?
answer
Packaging can make the key difference in a new marketing strategy when it meets customers' needs better. For example, a package that makes the product safer to use, more convenient to store, more resistant to spoilage, or easier to identify delivers important value to customers. The fact that a package may promote the brand at the point of purchase, while good promotion, would not likely enhance the customer experience in a way that fosters brand preference or brand insistence.
question
Which of the following is NOT a consumer product class?
answer
Consumer product classes are divided into four groups: (1) convenience, (2) shopping (3) specialty (4) unsought.
question
______________ are products a consumer needs but isn't willing to spend much time and effort shopping for.
answer
convenience products
question
While shopping in a local supermarket, Jolene Partin came upon an aisle display of cookies and had to have some—immediately. By the time she got to the checkout counter with the rest of her selections, all the cookies were gone. In this case, the cookies were:
answer
impulse products
question
Customers see _____ products as different and want to inspect them for quality and suitability.
answer
heterogeneous
question
Which of the following is an "unsought product"?
answer
are products that potential customers don't yet want or know they can buy so they don't search for them at all. Consumers probably won't buy these products when they see them unless promotion can show their value
question
Customers view regularly unsought products as
answer
products like life insurance, and encyclopedias that stay unsought but not unbought forever.
question
A $50 consumer product which is purchased infrequently is:
answer
It could be any of these choices. Consumer product classes are based on how consumers think about and shop for products.
question
Installation products:
answer
One-of-a-kind installations like office buildings and custom-made machines generally require special negotiations for each sale. Negotiations often involve top management and can stretch over months or even years.
question
Regarding installations, which is NOT true?
answer
Installations are a boom-or-bust business. During growth periods, firms may buy installations to increase capacity. But during a downswing, sales fall off sharply.
question
Trane Corp. manufactures long-lived, custom-made equipment which its customers treat as capital items. Trane's sales force faces much multiple-buying influence. Trane's products, which do not become part of the customer's final product, are:
answer
installations such as buildings, land rights, and major equipment are important capital items where multiple-buying influence and new-task buying are common
question
Compared to installations, accessory equipment
answer
are more standardized than installations and they're usually needed by more customers
question
Regarding accessory equipment, which of the following is NOT true?
answer
Multiple buying influence is less important in the purchase of accessory equipment than for installations since they cost less and last a shorter time.
question
Raw materials are different from other business products in that:
answer
Nature produces what it will; but it must be sorted and graded to satisfy various market segments.
question
A marketing manager developing a marketing mix to sell ______ probably needs to be concerned with grading, transportation, and storing because of seasonal production and/or perishable products.
answer
raw materials
question
A firm which makes special batteries that boat and motorcycle manufacturers buy and install directly in their new boats and cycles is selling:
answer
component parts
question
Michelin manufactures tires which truck producers buy and install on their trucks. This company
answer
Component parts
question
"MRO items" are:
answer
(1) maintenance (2) repair (3) operating supplies giving them their common name: MRO supplies.
question
When business buyers purchase items such as grease, electricity, typing paper, and paper clips, they are buying:
answer
convenience products
question
Business professional services:
answer
usually treated as expense items. Managers compare the cost of having company people do them to the large number or professional service providers available.
question
Consumer product classes
answer
are based on how consumers think about and shop for products.
question
business product classes are based on:
answer
are based on how buyers think about products and how the products will be used
question
As a firm's product moves along the product life cycle, marketing managers can expect all of the following to occur except:
answer
sales and profits do not move together in tandem. Profits from a new product or category begin to decline even while industry sales are still rising. Profits decline steadily during the market maturity stage.
question
In the 1990s, DVDs replaced audiocassettes and floppy disks as the storage media of choice for music and computers. At which stage of the product life cycle is the DVD today?
answer
As a result of streaming digital media and the cloud, sales of DVDs are in decline. Movies, music, and computer files no longer require hard disk storage for most customers.
question
Competitors that begin to see the success of a new product or product category typically:
answer
identify the new growth opportunity and quickly copy the most successful product or try to improve it to compete better.
question
Industry profits decline during the market maturity stage due to:
answer
promotion costs rise and some competitors cut prices to attract business
question
The product life cycle
answer
describe industry sales and profits for a product idea within a particular product-market.
question
As a product moves through its product life cycle:
answer
Industry profits decline while industry sales are still rising; the nature of competition moves toward pure competition or oligopoly; the product may be aimed at entirely different target markets at different stages; customers' attitudes and needs may change over the product life cycle.
question
In the market introduction stage of the product life cycle
answer
Most companies experience losses during the introduction stage because they spend so much money for product, place, and promotion development
question
During the market introduction stage of the product life cycle:
answer
firms invest money in the hope of future profits.
question
In the _____ stage of the product life cycle, organizations focus on building primary demand.
answer
market introduction
question
Pfizer Corp. is introducing a really new product idea. Pfizer is spending a lot of money to inform potential customers and intermediaries about the availability and advantages of the new product. Although sales are rising slowly, Pfizer doesn't expect the product to become profitable for at least another year. Pfizer's new product is in which stage of the product life cycle?
answer
market introduction
question
Industry profits are largest in which of the following product life cycle stages?
answer
market growth stage
question
Total industry profits reach their maximum during the __________ stage of the product life cycle.
answer
market growth stage
question
It is toward the end of the _____ stage of the product life cycle when industry profits begin to decline.
answer
market growth stage
question
Cargill, Inc. is finally earning a profit on the unique product it introduced six months ago. Cargill's advertising is both informative and persuasive. Much money is being spent on Place development. There is little price competition, although several competitors have come out with reasonable imitations. Total industry sales and profits are both rising. In which stage of the product life cycle is Cargill operating?
answer
market growth stage of the product life cycle.
question
Competition is toughest in which of the following product life cycle stages?
answer
market maturity stage
question
Which of the following observations concerning the market maturity stage is note true?
answer
Many aggressive competitors enter the market during the market maturity stage.
question
Persuasive promotion is especially important in which of the following product life cycle stages?
answer
market maturity stage.
question
An industry's sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as "homogeneous." Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid price-cutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle?
answer
tend to differ only slightly and firms focus on persuasive promotion
question
During the sales decline stage of the product life cycle:
answer
firms with strong brands may make profits until the end because they have successfully differentiated their products.
question
During the sales decline stage
answer
new products replace the old.
question
"Product life cycles" are concerned with sales and profits:
answer
describe industry sales and profits for a product idea within a particular product-market
question
The shape, length, and current stage of a product life cycle may vary depending:
answer
on how the market is defined, the nature of the competition, and also the nature of the products involved.
question
A new-product idea moves through the early stages of the life cycle more quickly when it has all the following characteristics EXCEPT:
answer
The greater the comparative advantage of a new product over those already on the market, the more rapidly its sales will grow.
question
According to the text, product life cycles are:
answer
are getting shorter.
question
Because firms must be developing new products all the time, which of the following statements is true?
answer
Product improvements come rapidly in the market growth stage. One new invention may make possible many new products that replace old ones and in general product life cycles are getting shorter. Although life cycles keep moving in the developed economies, many advances bypass most consumers in less-developed economies.
question
Which of the following statements about pioneers and followers is false?
answer
On average, pioneers tend to be less profitable over the long-run—in part because many do not survive.
question
Which of the following is less likely to happen as a product moves through the later stages of the product life cycle?
answer
selective distribution
question
When moving into the market maturity stage of the product life cycle, a firm might be able to obtain a competitive advantage:
answer
by modifying their products to make them better, with lower production costs, or by simply being more successful at promotion
question
Concerning the product life cycle
answer
Individual products may enter and leave the market at any stage.
question
Which of the following observations concerning a phase-out strategy
answer
becomes more obvious as the sales decline stage arrives.
question
Regarding what a "new product" is, your text says:
answer
product is one that is new in any way for the company concerned. A product can become "new" in many ways. A fresh idea can be turned into a new product and start a new product life cycle. Variations on an existing product idea can also make a product new
question
Seeking to stop declining sales for an established mouthwash, a sales manager suggests that new coloring be added to the product and a major promotion effort be started for the "new" product. The Federal Trade Commission would:
answer
FTC would not approve the mouthwash with new coloring because the product doesn't meet the FTC's definition of "new."
question
Which of the following is a common cause of new product failures?
answer
A new product may fail when it doesn't offer a unique benefit to the customer.
question
When new product ideas are chosen based on ratings and comments from customers, this process is called ______.
answer
crowd sourcing
question
Ideas about potential new products should
answer
be encouraged from any and all sources, since only a few ideas will develop into successful products.
question
In the idea generation stage of the new-product development process
answer
many new ideas in business markets come from competitors
question
New-product specialists at Whirlpool buy washing machines made by other firms and take them apart to look for new ideas. This is called
answer
reverse engineering
question
Wujin Chu, marketing manager for Innovative Electronics Products, reviews a S.W.O.T. analysis to help him evaluate four new product ideas his company is currently considering. Chu is operating in the ____ step of the new-product development process.
answer
screening
question
In the idea evaluation stage
answer
concept testing is used for getting reactions from customers about how well a new-product idea fits their needs.
question
The _____ step in the new-product development process could involve research and development as well as engineering to design and build the physical part of the product.
answer
development
question
Which of the following activities is NOT typical of the commercialization stage?
answer
Full-scale market testing is conducted in the development stage.
question
Because of _____, a court rules that a fast-food restaurant has a legal obligation to pay damages to a family whose child was injured when it swallowed an unsafe toy that came in a kids' meal box.
answer
product liability
question
Which of the following is not an accurate characterization of the idea evaluation stage of the new-product development process?
answer
stage does not involve the development of a prototype of the product. Prototypes are used during the development stage-Step 4 of the new-product development process.
question
The big cost of poor quality is the cost of
answer
lost customers.
question
Total quality management:
answer
-requires that everyone be concerned about quality and serving customer needs better -means more than just using statistical controls to reduce manufacturing defects. -views the big cost of poor quality to be lost customers -applies to all firms, including service providers and manufacturers
question
Building quality into services:
answer
need to give employees the authority to correct a problem on their own
