chapter 1
1) Which of the following is a short definition of marketing? A) Meeting needs profitably B) Meeting wants profitably C) Meeting consumer demands profitably D) Meeting business-to-business wants profitably
A
10) When firms make the right decisions, they produce products and services that their target markets perceive as having value. That value translates into: A) Sales, profits, and a positive ROI. B) Product success and profits. C) A profitable bottom-line. D) Global as well as domestic market success.
A
15) According to the American Marketing Association (AMA), what is the function of marketing research? A) To link the consumer to the marketer B) To link the marketer to global markets C) To link consumers and customers D) To link consumers, customers, and markets
A
16) According to the American Marketing Association, which of the following is the primary use of marketing research? A) To identify and define marketing opportunities and problems B) To solve general, not specific, marketing problems C) To generate, refine, and evaluate marketing actions D) To monitor marketing performance
A
19) Tracking variables on how well products are performing in the marketplace is an example of what use of marketing research? A) Market monitoring B) Marketing metrics C) Marketing analytics D) Marketing performance
A
2) Over the years, marketing thought has evolved to a service-centered view. Which of the following statements best illustrates this view? A) Marketers must identify their companies' core competencies. B) Marketers must know how to precisely measure service satisfaction. C) Internal service levels are more important than external service levels. D) Service delivery and product quality are now two different concepts.
A
20) Marketing research can also be used to do which of the following? A) Generate, refine, and evaluate a potential marketing action B) Generate, modify, and evaluate a potential marketing action C) Hypothesize, refine, and evaluate a potential marketing action D) Generate, refine, and execute a potential marketing action
A
23) If we think of actions as strategies, what actions are required to satisfy the wants and needs of a market? A) Selecting a target market and designing a marketing mix B) Selecting a target market and designing a promotion mix C) Selecting global and domestic markets and distribution strategies D) Selecting global markets and designing promotional strategies
A
28) Maritz Research's New Vehicle Customer Study includes data collected over several years, and in recent years it has studied hybrids. Its market analysts know why drivers purchase hybrids, what makes them satisfied, what their expectations are for gas mileage, and preferences for alternative fuels. The main use of this type of research would be related to: A) Product research. B) Pricing research. C) Promotion research. D) Distribution research.
A
3) The service-oriented logic as a marketing philosophy implies: A) That to successfully practice marketing in today's environment, marketers require more and better access to information. B) The advantage in the marketplace will default to third world countries specializing in services. C) To quickly increase profitability, more companies should try to create short-term customer relationships. D) That because of social media, less collaboration with customers is required for decision-making.
A
32) General Motors did research on what became the minivan-a small van suitable for families. 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: A) Marketing research does not always provide management with the right answer. B) Marketing research does not provide correct answers most of the time. C) Management should question the methods used to conduct product market research. D) Marketing research is not as reliable as management's intuition.
A
34) The components of the marketing information system does not include: A) A consumer information support system. B) A marketing intelligence system. C) A marketing decision support system. D) An internal reports system.
A
38) Which of the MIS systems uses both informal and formal information-gathering procedures? Informal information-gathering procedures involve activities such as scanning newspapers, magazines, and trade publications. A) Marketing intelligence system B) External environment reports system C) Internal reports system D) Consumer information support system
A
39) The ________ is the marketing information system component that provides studies conducted for specific situations facing the company. A) marketing research system B) marketing intelligence system C) consumer information support system D) decision support system
A
42) Which of the following components of the MIS contains information that is generally insufficient for many marketing decisions, but is a source of extreme detail on both revenues and costs that can be invaluable in making decisions? A) Internal reporting system B) Marketing research system C) Marketing intelligence system D) Decision support system
A
44) Which of the following is NOT a subsystem of a management information system? A) Manufacturing information system B) Accounting information system C) Financial information system D) Marketing information system
A
11) Firms have strategies in many areas other than marketing. Financial strategy, production strategy, and technology strategy, for example, may be key components of a firm's overall strategic plan. Strategy is another name for: A) Marketing. B) Planning. C) Forecasting. D) Tactics.
B
14) Applying marketing research to a specific geographical marketing area is referred to as: A) Geocentric research. B) Market research. C) Area marketing research. D) Geographical zone research.
B
22) In 2014, General Mills acquired Annie's Homegrown, an organic food company, to meet a growing demand by consumers to have access to organic and natural foods. The company used marketing research to identify ways to grow the brand, promote it, and evaluated plans to market it. This is an example of what use of marketing research? A) Generating and identifying potential marketing actions B) Generating, refining, and evaluating potential marketing actions C) Identifying marketing opportunities and problems D) Identifying market problems and generating marketing actions
B
25) The difference between basic research and applied research is that applied research is conducted to: A) Understand the basic desires and motives of consumers. B) Expand our knowledge to solve a specific problem. C) Expand our knowledge, rather than solve a specific problem. D) Determine the most basic desired features in new products.
B
29) 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: A) Product research. B) Pricing research. C) Promotion research. D) Distribution research.
B
35) The ________ that gathers data generated from information such as orders, billing, receivables, and inventory levels, etc., is called the: A) consumer information support system B) internal reports system C) marketing research system D) decision support system
B
40) Collected data that may be accessed and analyzed using tools and techniques that assist managers in decision-making is the: A) Marketing research system. B) Decision support system. C) Marketing intelligence system. D) Consumer information support system.
B
45) Determiniing decision makers' information needs, acquiring the needed information, and distributing that information to the decision makers in a form, and at a time when they can use it for decision-making describes: A) The role of internal reporting systems. B) The role of marketing information systems. C) The role of market research systems. D) The role of market intelligence systems.
B
AACSB: Application of knowledge 8) Creating the proper mix of product/service, price, promotion, and distribution for a market begins with: A) Selecting the global market strategies and targets. B) Selecting the segment of the market as a company's target. C) Creating promotion for the target market.. D) Incentives to allow a large percentage of the target market to purchase goods and services from the company.
B
12) As environments change, what should be revised on an ongoing basis to produce the right strategy for the new environment? A) Market plan decisions B) Product development decisions C) Business decisions D) Financial decisions
C
21) 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? A) Generating potential marketing actions B) Identifying potential marketing segments C) Identifying marketing opportunities and problems D) Identifying market problems and marketing actions
C
26) An example of basic research is: A) A winery needs to solve a specific pricing issue relative to its competitors. B) A winery needs to respond to issues related to its distribution network. C) A winery needs to understand more about exporting wine. D) A winery needs to solve a problem it is having exporting wine.
C
30) Chobani launched a campaign, called "The Break You Make," in 2015 to increase awareness of the Chobani Flip, an afternoon snack yogurt. Research determined that the campaign was very successful, with sales of Chobani Flip up 300% over the previous year. The main use of this type of research would be related to: A) Product research. B) Pricing research. C) Promotion research. D) Distribution research
C
36) The role of the MIS is to ________ to the decision makers in a form and at a time when they can use it for decision making. A) determine decision makers' information needs and distribute that information B) deterimine decision makers' information needs, analyze the information, and distribute that information C) determine decision makers' information needs, acquire the needed information, and distribute that information D) analyze decision makers' information needs, distribute the needed information, and provide guidance on that information
C
4) Modern marketing thought holds that firms should: A) Separate product-orientation from service-orientation. B) Focus on service-orientation at the expense of product-orientation. C) Collaborate with and learn from customers. D) Collaborate with and learn from competitors.
C
41) The ________ goes on continuously and searches a broad range of information sources to bring pertinent information to decision makers. A) consumer information support system B) marketing research system C) marketing intelligence system D) decision support system
C
46) The best system that can tell a manager a great deal of information about what has happened in the past is the: A) Marketing research system. B) Marketing intelligence system. C) Internal reporting system. D) Decision support system.
C
6) The marketing concept is an important philosophy for marketing managers because: A) It sets the amount of quarterly profits a firm will earn. B) It dictates the market share a firm will earn. C) It guides day-to-day decisions managers will make. D) It sets an adequate rate of internal ROI.
C
7) For many years, the marketing concept has been recognized as the "right philosophy" because: A) It is well established in marketing literature. B) It recognizes that profits are a result of sales volume. C) It always focuses on the consumer. D) It does not rely on high-pressure selling.
C
13) What is the definition of marketing research? A) The process of analyzing secondary information and providing executives with timely reports to solve a marketing problem. B) The process of designing experiments that provides decision makers with causal information. C) The process of analyzing existing information so decision makers can make better decisions. D) The process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem.
D
17) Marketing research can also be used to generate, refine, and evaluate a potential marketing action. In this context, actions may be thought of as: A) Social media, campaigns, programs, or tactics. B) Controls, campaigns, programs, or tactics. C) Market analytics, controls, tactics, or advertising. D) Strategies, campaigns, programs, or tactics.
D
18) The purpose of market research is best described by which of the following statements? A) To provide consumers with information they need to evaluate products and services at a profit B) To link external environments to the firm C) To link target markets to specific decision makers at all levels within firms D) To link the consumer to the marketer by providing information that can be used in making marketing decisions
D
24) Improving our understanding of ________ entails conducting research to expand our knowledge of marketing. A) the marketing concept B) the marketing planning process C) the market mix process D) the marketing process
D
27) A great deal of marketing research is conducted to determine the size of various market segments. Not only are managers interested in knowing the size of a market segment but also: A) If that segment is shrinking and why competitors did not fulfill the wants and needs of that segment. B) If that segment is growing and how well competitors are fulfilling the needs of that segment. C) If that segment is growing and how well competitors are fulfilling the wants and needs of that segment. D) If that segment is growing or shrinking and how well competitors are fulfilling the wants and needs of that segment.
D
31) 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? A) Product research B) Pricing research C) Promotion research D) Distribution research
D
33) A ________ 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. A) customer relationship management system B) sales information management system C) marketing relationship management system D) marketing information system Answer: D
D
37) The ________ is defined as a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the environment. A) external environment reporting system B) internal reports system C) consumer information support system D) marketing intelligence system
D
43) Which of the following MIS components uses tools such as break-even analysis, regression models, and linear programming? A) Internal reporting system B) Marketing research system C) Marketing intelligence system D) Decision support system
D
5) To successfully minimize product and service failures companies should: A) Develop better project management systems. B) Motivate employees to reduce high failure rates. C) Focus on defining the best set of product dimensions to match core competencies. D) Determine how to create, communicate, and deliver value by "hearing the voice" of the consumer.
D
9) In order to create the right strategies for decision-making, managers must have objective, accurate, and timely: A) Reports about the competition's products. B) Reports about customers' wants and needs. C) Evidence of the number and sizes of market segments. D) Information
D
