Unit 8.1 8.2 BMT

Which of the following is a true statement about the steps in the marketing research process:

The steps in marketing research must follow a certain order, and none can be eliminated.

How does a marketing plan affect the way the marketing team plans its strategies?

The team can plan strategies with more precision.

Which of the following is an important benefit of marketing plans:

They can help obtain funding.

Which of the following is a true statement about marketing plans:

They require a lot of time and effort to write.

Which of the following is a true statement about marketing-plan formats:

They vary from business to business.

Why do businesses use exploratory research?

To define the reason for the research

How could a business use marketing research data it has gathered about the average age, income, educational level, and spending patterns of area consumers?

To develop a profile of the typical customer

Which of the following is a common reason for writing a marketing plan:

To enter a new target market

What is the purpose of the executive summary in a marketing plan?

To serve as an introduction

A marketing plan forces the marketing team to put its goals in writing, making those goals

easier to remember

A business owner marked down a line of products in order to sell them, but customers still didn't buy them. Marketing research might have been used in this situation to protect the business from

financial loss.

A marketing plan is designed to attract target customers through a set of

strategies

A business with its own marketing research department is most likely to use outside marketing research when

the business needs more research than the department can handle.

What is market research?

the systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern.

Marketing plans help marketers understand target market(s) better because

they require a great deal of research into the target market(s).

how does marketing research help businesses implement the marketing concept?

Marketing research is used to solve specific marketing problems as well as to identify problems that may or may not be readily apparent.

Why is it important for marketing research to be objective?

So that the data gathered are not influenced by researchers' opinions

Marketing plans help marketers understand past decisions and outcomes better so that they can avoid

repeating past mistakes.

Which of the following is essential to all marketing research:

Accuracy

Which of the following is the most significant reason why marketing research is important to businesses:

It contributes to business success.

Is marketing research used just by large businesses?

No, it is used by businesses and organizations of all sizes.

Descriptive research is a type of marketing research that is used by businesses when they need to

obtain specific data related to the business's situation.