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MKTG 3300 CHAPTER 1

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Which of the following statements best illustrates the service-dominant logic for marketing philosophy?
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Marketing decision makers should know their firms’ core competencies
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One of the implications of the service-dominant logic for marketing philosophy is that:
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to practice marketing well in today’s environment requires access to more and better information than in the past.
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Companies which successfully minimize product and service failures:
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have determined how to create, communicate, and deliver value by “hearing the voice” of the consumer.
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The marketing concept is an important philosophy for marketing managers because it dictates
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day-to-day decisions that managers will make
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The key reason that the marketing concept has been recognized as the “right philosophy” is that it
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always focuses on the consumer.
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Several examples of product failures were presented in your textbook. The key reason given for the failure of the firm, Cell Zones, to establish cell phone privacy in public settings with soundproof booths was that:
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the company did not understand that the public was transitioning to the use of smart phones to text messages.
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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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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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Which of the following is the best definition of marketing research? Marketing research is:
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the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.
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Based on the AMA’s definition of marketing research, which of the following is NOT one of the uses of marketing research?
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to solve general, not specific, marketing problems
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Which of the following refers to applying marketing research to a specific geographical marketing area?
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market research
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Which of the following statements best reflects the purpose of marketing research
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to link the consumer to the marketer by providing information that can be used in making marketing decisions
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Marketing research conducted on the popular TV program, Seinfeld, starring Jerry Seinfeld, was used to illustrate:
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when marketing research predicts a failure, yet there is success.
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Which of the following best illustrates the use of marketing research to monitor marketing performance?
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tracking variables that monitor how well products are performing in the marketplace
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The difference between basic research and applied research is that basic research is conducted to
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expand our knowledge, rather than solve a specific problem.
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Barnes & Noble managers were prompted to ________ when presented with marketing research which indicated that its competitor, Amazon, had developed the Kindle to begin selling books online
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generate, refine, and evaluate potential marketing actions
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Which of the following is NOT one of the components of the marketing information system? A) internal reports B) marketing intelligence C) marketing decision support D) consumer information support system E) marketing research system
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consumer information support system
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The information system that gathers information generated by internal reports such as orders, billing, receivables, inventory levels, and so on is called the:
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internal reports system.
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Which of the following marketing information system components gathers information about events and happenings “outside” of the firm?
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marketing intelligence
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Which of the following marketing information system components provides studies conducted for specific situations facing the company?
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market research system
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Which of the following marketing information system components is NOT continuous?
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marketing research system
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Determining the value consumers perceive in new products is a primary objective of:
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pricing research
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Akron’s Children’s Hospital hired research firm, Marcus Thomas, LLC, to determine the most effective communication messages to use in a new ad campaign being developed by the hospital. This was an effort in
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promotion research
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________ satisfies the need for companies to identify and test new products to replace products which are at the end of their product life cycles
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product research
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Understanding the forces which motivate dealers to move greater quantities of product is inherent in the process of:
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distribution rsearch
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A kitchen appliance company has seen domestic markets become saturated over the past decade. Seeking new avenues of growth, in what way can the firm’s decision makers use market research to find a sizable international market segment to pursue?
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target market selection
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It has yet to be proven if social media can effectively serve as a venue for firms to collaborate with consumers
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false
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Marketing is a part of, or a subcategory of, marketing research.
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false
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The service-dominant logic for marketing philosophy suggests that marketing decision makers will need less information in the future.
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false
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Frito-Lay Lemonade is an example of a product extension which likely failed because of poor marketing research information
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True
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When a firm is “consumer -oriented” or “market-driven,” it follows the marketing concept business philosophy
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True
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Marketing strategy is defined as a planned design to reach the largest portion of the market by leveraging the benefits of both low marketing costs and promotion using the mass media to reach the largest audience.
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false
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Once objective, accurate, and timely information is provided to managers to allow them to implement the correct strategy, there is no future need for information
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false
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Marketing research is the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem
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true
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The American Marketing Association’s definition of marketing stresses that the function of marketing should be to create sales which generate high profits for the firm.
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false
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The definition of marketing research provided by the American Marketing Association stresses the 11-step process of marketing research.
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false
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Marketing research is synonymous with market research
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false
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The purpose of marketing research is to link the consumer to the marketers by providing information that can be used in making marketing decisions.
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true
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Marketing research provides information collected only on consumers. Information collected on other entities such as employees, members of distribution channels, or competitors would NOT be considered marketing research.
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false
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Marketing research is infallible
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false
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One of the uses of marketing research is to identify market opportunities; however, the identification of problems is not a use of marketing research, but rather a use of the firm’s internal auditing system.
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false
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When marketing research is used to “improve marketing as a process” instead of trying to solve a specific problem, we classify this research as applied research.
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false
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The use of marketing research to monitor marketing performance takes place prior to implementing marketing strategies.
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false
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Hershey’s can monitor the sales of its candy bars as well as the sales of its competitors’ brands through the use of tracking research studies.
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true
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When marketing research is used to improve marketing as a process, the research information is often published in journals such as The Journal of Marketing Research and Marketing Research.
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true
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Applied research addresses specific problems, and this type of research represents the vast majority of marketing research studies.
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true
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Some marketing research studies are designed to find out what consumers’ problems are and to assess the suitability of different proposed methods of resolving those problems.
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true
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Using marketing research to select new target markets not only involves determining the size of various market segments, but also determining if the market segment is growing or shrinking.
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true
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A marketing information system is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
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true
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The marketing intelligence system gathers information generated by internal reports, which includes order billing, receivables, inventory levels, stockouts, and so on.
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false
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A marketing decision support system is defined as collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making.
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true
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Everyday, information about pertinent developments in the environment is gathered through internal report systems.
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false
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The marketing research system gathers information for a specific situation facing the company, and it is unlikely that the other components of an MIS have the information needed for the specific situation.
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true
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Marketing research is not needed if there is an adequate decision support system in place.
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false
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Marketing research projects, like the other MIS components, are continuous, running 24/7.
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false
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Marketing has been defined as a function and set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing managers must have information in order to determine values desired by customers and how to build customer relationships. This explanation shows:
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why marketing research is a part of marketing; that is, marketing research provides information to allow marketing managers to understand values desired by customers.
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Tim, a marketing manager, disagreed with other company managers. Tim believed that the company should not just try to make a better product or try to sell more of the product. Tim believed that the company should try to identify and satisfy consumer wants and needs. Tim’s philosophy may best be described as
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the marketing concept philosophy.
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Allison is the CEO of a large consumer products company. She asks the marketing research department to gather information to help her determine target markets having the most potential from among several market segments. She also asks the research department to give her an assessment as to the best product, price, distribution, and promotion to appeal to the various market segments. Allison is collecting information to help her implement a
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marketing strategy
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Rachel would like to create a new department within her firm. She wishes that her firm could provide information that will help link consumers outside the firm to individuals in the firm. The individuals inside the firm would make decisions used to identify marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and perhaps improve the understanding of marketing as a process. Rachel should name this department:
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the marketing research department.
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Abe would like to identify a location for a new unit of his franchised fast-food restaurant chain. He orders an evaluation of several city blocks from a marketing research firm. The research firm will determine the population, population growth, income, and other important demographic information for the defined geographical area. The research company will be performing:
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market research
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Marketing research studies predicted that hair styling mousse, answering machines, the Jerry Seinfeld TV program, Seinfeld, and other products and services would fail. Yet, these products and services were all successful. This illustrates that marketing research:
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does not always make accurate predictions
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Wrangler® developed several different proposed advertisements. They then used marketing research to test consumers’ preferences for the different promotional messages expressed in the various ads. This is an example of which use of marketing research?
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generating, defining, and evaluating potential marketing actions
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Professors at Texas A&M University conducted research to determine the best way to measure customer satisfaction with services. Their method was published in the Journal of Marketing and may be used by any firm wishing to measure their own customers’ satisfaction levels. This would be an example of:
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basic research
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Bob is a salesperson with the Acme Corporation. Bob has just made a large sale, and he accesses Acme’s marketing information system in order to determine if the company has enough existing inventory to fill the large order. Bob is accessing which component of Acme’s MIS?
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internal reports
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Andrea Livingston arrives at her desk at Western Utility Corporation, a provider of electrical power. She accesses her Lexis-Nexis computer program, which provides her with articles containing information related to the utilities industry. She discovers that a new breakthrough has occurred in solar panel technology, and this report was published during the evening in a newspaper in Europe. She immediately takes this information to her research and development department. Andrea is accessing which component of the MIS of Western Utility Corporation?
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marketing intelligence
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Doss is vice president of marketing research for General Mills. The chefs at General Mills bring three new cookie recipes to Doss. Doss wants to know which of these three cookie recipes would be most preferred by consumers. Which component of General Mills’ MIS would Doss use in order to provide him with this information?
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marketing research