370: exam 1
how do the selling concept and the marketing concept differ? a. the marketing concept focuses on creating a product around demand. the selling concept focuses on creating demand around a product b. no difference c. the marketing concept focuses on advertising. the selling product focuses on frontline employees d. the selling concept focuses on creating a product around demand. the marketing concept focuses on creating demand around a product
a
which of the 7 Ps of marketing is especially crucial in the services industry? a. process b. physical evidence c. place d. price
a
literature search
a search of statistics, trade journal articles, other articles, magazines, newspapers, books, and/or online sources for data or insight into the problem at hand
cross tabulation
allows researchers to determine what relationships may exist between 2 questions in and survey and how strong the relationship is
Pre-existing data is also known as _____. a. primary b. secondary c. qualitative d. quantitate
b
a restaurants decor would be considered which of the 7 Ps? a. product b. physical evidence c. place d. price
b
which of these is not true about the 7 Ps? a. the customer is the center b. the 7 Ps focus on advertising c. provide differentiation d. the pieces are interdependent
b
Consider a candy bar sold in a vending machine. The vending machine would represent which of the Ps? a. product b. process c. place d. promotion
c
According to the most recent marketing mix how many Ps are there in total? a. 6 b. 10 c 4 d. 7
d
Which are these is NOT a common failure in creating surveys? a. Asking too many questions b. Failing to understand the survey population c. Forgetting to introduce your survey d. All of these are common failures in creating surverys
d
Why are relationships important in marketing? a. happy customers are more immune to competing offers b. happy customers are willing to pay more for brands they love c. happy customers will readily advocate for brands through word of mouth marketing d. all of the above
d
which is NOT a responsibility of marketing? a. ensuring that a firm understands costumers b. finding the best ways of reaching those customers with product info c. encouraging costumers to make purchases d. fulfilling product shipments
d
which is NOT an example of price? a. frequent costumer discounts b. odd pricing (.99) c. bundle pricing d. all are examples
d
Which is not a valuable research question: a. How do customers rate our solutions against competing solutions? b. What criteria do customers use when making purchase decisions? c. How likely are our customers to recommend our solutions? d. Which new product ideas would customers most likely purchase? e. all of these are valuable research questions
e
descriptive
how often, quantitative
brand awareness
how well consumer recalls brand
projective methods
indirect methods(usually some sport of task) that cause study participants to reveal their feelings thought and opinions or to express behaviors
data mining
insight from trends, patterns
customer behavior
insight to why customers do the things they do understanding the drivers is the main focus of marketing research One of the most important elements
case analyses
intensive study of representative examples/cases of the subject under study
depth interview
interviews knowledgeable people of the subject
focus groups
structured interview process with a small group of individuals who can offer insight. Typically facilitates
explanatory research
narrow down through broad research. qualitative
regression analysis
forecast or predict the value on questions using as input the value of a related question
research question
primary goal
7 P's
product, price, place, promotion, people, physical evidence, process
causal
how does one specific factor contribute to the results of product
brand image
how it is precieved
4 Ps
Product, Price, Place, Promotion
NPS
Promoters(9-10): loyal, buy more, refer friends, and provide feedback/ideas Passives(7-8): satisfied but not enthusiastic; still open to competitors offerings detractors(0-6): customers who are unhappy and can hurt brand through negative word of mouth Calculating a brands NPS Promoters - detractors; ex: promoters =50% detractors =30%...NPS=20%
T/F: Customer behavior is the most important thing that marketers attempt to measure through market research
T
T/F: marketing research us used when marketers need insights into customer needs, product, preferences buying behavior, satisfaction, and many other things and the data is not readily available
T
T/F: surveys are a type of market research
T
T/F: the costumer should ideally be at the enter of the marketing process
T
T/F: the marketing mix framework shows that promotion is not all that marketing is
T
Which data is more expensive to collect? a. primary b. secondary c. qualitative d. quantitate
a
The research question when referred to i marketing research is the a. primary goal b. secondary goal c. is the only question asked in a survey d. none of above
a
A survey which often is just a single question, "How likely is it that you would recommend [brand] to a friend or colleague?" and measures customer experiences is called a.... a. NPS or Net Promoter Score Survery b. markerting research c. survey d. none of the above
a
Exploratory research is useful when a. Marketers have many broad research questions and need to narrow them down into more precise questions b. Measure the feelings, attitudes, opinions of a specific population c. discovers the cause and effect relationship between variables. d. find quanitative data
a
