MKT 232 Exam 1

___ is a short definition of marketing

meeting needs profitably

social media and other advances in technology enable companies to ___.

determine how to create, communicate, and deliver value by “hearing the voice” of the consumer

What is the definition of marketing research?

the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem

When firms make the right decisions, they produce products and services that their target markets perceive as having value. That value translates into ___.

sales, profits, and a positive ROI

According to the American Marketing Association (AMA), what is the function of marketing research?

to link the consumer to the marketer

Tracking variables on how well products are preforming in the marketplace is an example of what to use of marketing research?

marketing monitoring

High gasoline prices and concerns about fossil emissions bothered consumers, so Toyota developed the Prius. This is an example of what use of marketing research?

Identifying marketing opportunities and problems

When a revolutionary new product is created, marketers use research to determine the “value” consumers perceive in the new product. The main use of this type of research would be related to:

pricing research

Chobani launched a campaign called “The Break you Make” in 2015 to increase awareness of the Chobani Flip, and afternoon snack yogurt. Research determined that the campaign was very successful, with sales of the Chobaniflip up 300% over the previous year. The main use of this type of research would be related to:

promotion research

A winery wants to know more about sales channels, product outlets, and even whether these channels are motivated. What type of research would the winery use to answer these questions?

distribution research

General Motors did research on what became the minivan. The research did not convince them to produce it. Later, Chrysler introduced the Dodge Caravan and Plymouth Voyager minivans, which turned out to be among the most successful models in automotive history. This example most closely demonstrates that:

marketing research does not always provide management with the right answer

A ___ is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute need, timely, and accurate information to marketing decision makers.

marketing information system

Which of the following MIS components uses tools such as break-even analysis, regression models, and linear programming?

decision support system

Managers must determine what products to make or what services to help offer, which methods of advertising are most effective, which prices will help their firm realize its target return on investment (ROI), and which distribution system will add the greatest value to the supply chain.

true

Which of the MIS systems use both informal and formal information-gathering procedures? Informal information-gathering procedures inolve activities such as scanning newspapers, magazines, and trade publications.

marketing intelligence system

LEGO collects data from their customers, offers online competitions for customer feedback and interaction, and allow customers to submit new LEGO sets to be voted on by the LEGO online community. This practice is best known as ____.

crowdsourcing

Marketing research can be used to determine the size of a target market and various market segments. It may be used to see if the market segment is growing or shrinking and if needs are being met by competitors.

selecting target markets

Research studies may be conducted on proposed brand names and package designs of new products before commercialization. This area of research may also involve testing new product ideas and continue with concept tests that allow firms to quickly and inexpensively get consumers' reactions to the concept and proposed new product.

product research

Marketing research may be conducted to see how much a consumer is willing to pay for a product, how consumer groups will react to various pricing strategies, and how to best determine the consumer value placed on a new or existing product in the marketplace.

pricing research

Marketing research used to determine the effectiveness of different media channels on consumers. This research aids in determining how effective expenditures spent on advertising, sales force, publicity, public relations, and promotional offers on consumer segments.

promotion research

Marketing research aimed at understanding and determining the best channels to get the firm's to a consumer. This research evaluates who the best dealers for the product would be, how satisfied customers are with current dealers, how motivated the current dealers are with the firm's product, and if a multi-channel distribution strategy should be employed.

distribution research

Modern marketing thought holds that firms should ___.

collaborate with and learn from consumers

Creating the proper mix of product/service, price, promotion, and distribution for a market begins with ___.

selecting the segment of the market as a company’s target

A ___ consists of selecting a segment of the market as the company's target market and designing the proper "mix" of product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market

market strategy

___ is a process used to define the size, location, and/or makeup of the market for a product or service

market research

According to the American Marketing Association (AMA), what is the function of marketing research?

To link the consumer to marketer with information used in marketing decisions

Of the following, which is NOT one of the uses of marketing research?

To provide consumers with information they need to evaluate products and services at a profit

Why would a marketing manager use marketing research for problem identification?

To generate, refine, and execute a potential marketing action

Which of the following correctly describes the difference between basic research and applied research?

Applied research expands our knowledge to solve a specific problem.

NOT a marketing information system (MIS)

marketing decision support system

A great deal of marketing research is conducted to determine the size of various market segments. Marketing managers are interested in the size of various markets, but they are also interested ___.

in knowing if a segment is growing or shrinking and how well competitors are fulfilling the wants and needs of that segment

Information gathering to be used for decision-making goes back to the earliest days of recorded history. In the United States, surveys were used in the early 1800s to determine:

The popularity of political candidates.

The first known application of marketing research to a business marketing/advertising problem was conducted by:

An advertising agency

___ is the person recognized as the "Father of Marketing Research." He is given credit for conducting the first continuous and organized market research.

Charles Coolidge Parlin

The term used for research conducted within an organization is called:

client-side research

Which of the following is NOT one of the contributors to the rise of do-it-yourself (DIY) research?

specialized internal research teams

Firms sometimes hire an outside marketing research company to conduct its research. This is referred to as:

supply-side research

A research firm that specializes in one, or, at most, a few marketing research activities is:

A limited-service supplier firm

The marketing research industry relies on:

derived demand

The five largest markets, by country, for marketing research are:

United States, United Kingdom, Germany, France, and China

Which is NOT a major source of online information allowing marketers to explore the many different types of research firms that operate worldwide?

Thomas Register

In the 1990s, ________ brought about significant change, with online panels becoming a primary source of data.

electronic surveys

In a 2015 survey of the marketing research industry by GreenBook, one of the greatest challenges for the industry is

employing qualified individuals

There is an increasing demand for researchers to present results:

In unambiguous, understandable, easy-to-grasp reports

What does “sugging” refer to

selling under the guise of a survey

What does “frugging” refer to?

fundraising under the guise of a survey

What does the GreenBook Research Industry Trends (GRIT) report detail?

Provides insights by contrasting supplier (marketing research firm) views on issues with buyer (client) views.

___ is the circumstance in which there is an exemption under the Do Not Call Registry.

calling U.S. citizens for conducting surveys

Which is the one issue that may pose an ethical problem for researchers?

Working on a project in which the outcome may not be in the best interests of society

Researchers' code of ethics includes respecting the rights and well-being of data subjects and make all reasonable efforts to ensure that data subjects are not harmed, disadvantaged or harassed as a result of their participation in research. This code falls into the category of ___

duty of care

Researchers' code of ethics includes not using any data collected solely for a specific client for any other purpose without permission. This code falls into the category of ___

honesty and transparency

PRC stands for:

Professional Researcher Certification

Charles Coolidge Parlin conducted the first continuous and organized research in 1911, when he was hired by the Curtis Publishing Company to gather publishing information.

true

The marketing research process contains multiple steps. The first step of the process is:

Establishing the need for marketing research.

Once a firm decides to conduct marketing research, the second step is to:

define the problem

___ tell(s) the researcher exactly what needs to be gathered and analyzed to allow managers to make decisions related to a problem.

research objectives

The term "research design" refers to the research approach used to meet the research objectives. Three widely recognized research designs are:

Exploratory, descriptive, and causal

___ describes how each sample element is to be drawn from the total population.

sample plan

The number of elements of the population used to make up the sample is the ____

sample size

A retailer may experience a decrease in sales over previous periods, a website begins losing traffic, or an advertising campaign does not reach its expected level of awareness. These situations are examples of:

Failure to meet objectives

A new use for a product is identified on social media, or those in a target market would like to have a service delivered to their doors. These would be examples of:

identification of an opportunity

Identification of problems is challenging. What portion of an MIS system would make managers aware of promotions that are cannibalizing other products or indicate which geographical regions are responding or not responding to promotions?

Internal reports system

A retailer wants to understand the consequences of an increase in sales by baby boomers and a decrease in sales by millennials during the past 12 months. This is an example of:

problem statement

What of the following is an abstract idea or concept composed of a set of attitudes or behaviors that are thought to be related?

a construct

Action standards ____ as well as entail making important decisions before data collection.

set clear guidelines for action after data collection

The ___ is the portion of the proposal that indicates whether the research will be exploratory, descriptive, or causal.

the research method

Our measure of customer satisfaction has fallen 10% in each of the past two months is best described as a(n):

symptom

The ___ is the contract that documents what the marketing researcher pledges to deliver as a result of the marketing research process.

marketing research proposal

___ involves entering data into computer files, inspecting data for errors, and running tabulations and various statistical tests.

data analysis

___ are statements that are taken as true for the purposes of argument or investigation.

hypotheses

Step 1

Establish the need for marketing research

Step 2

define the problem

Step 3

establish research objectives

Step 4

determine research design

Step 5

identify information types and sources

Step 6

determine methods of accessing data

Step 7

design data collection forms

Step 8

determine the same plan and size

Step 9

collect data

step 10

analyze data

Step 11

communicate the insights

KPI's, or ___, are measures that provide scores of how well a company is performing relative to its objectives.

key performance indicators

Variables are elements of a construct that can be measured or quantified.

True

Brand awareness

Ad recall, unique visitors, comments, referals, and retail traffic

Engagement

Likes, shares, blog comments, net promoter score, bounce rate

Sales

Market share, marketing penetration, orders, revenue, growth, and conversion

Return on Investment

Customer acquisition cost, marketing return on investment, customer lifetime value

Quality Control

Returns, complaints, review scores

Which of the following refers to numerous types and huge amounts of data to which companies now have access in real time?

Big data

The term often used to refer to the management and analysis of data to improve marketing decisions is known as

marketing analytics

Which of the following describes data developed or gathered by the researcher specifically for the research project at hand?

Primary data

___ are data gathered by another source other than the researcher or for some other purpose than the research project.

Secondary data

Which of the following makes all data collected by the government available and accessible by default except for personal information or data related to national security?

Open Data Policy 2013 (ODP)

Which of the following best outlines the problems with secondary data?

Data have not been collected specifically to address the problem at hand but have been collected for some other purpose.

Researchers must carefully ________ of secondary data in deciding whether to use it as a basis for making decisions.

assess the quality and validity

Researchers need to use multiple methods of evaluating secondary data. Which one of the following is NOT a method of evaluating secondary data?

Evaluate the availability of the data

Which of the following is a source of official statistics and updates U.S. data on an annual basis?

American Community Survey

Nielsen Ratings service, ___, measures TV audience size and viewer demographics for TV programs.

a syndicated data services firm

An organization may elect to use a ___ instead of trying to "reinvent the wheel" by developing its own process for measuring customer satisfaction.

packaged service

___ are the two major tools used to track consumers' online activities.

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