Marketing Quiz Questions Chapter 6-10

What is the difference between data and information?

Data is the raw numbers and information is the interpreted data

What is the first step in the market Research Process

Defining the objectives and research needs

age, gender, income, and education are a part of which segmentation method?

Demographic

What are sets of criteria needed to assess a country's market?

Economic analysis, infrastructure and technological analysis, government actions or inactions, and sociocultural

Together, the following major trade agreements cover two-thirds of the world's international trade

European Union, NAFTA, CAFTA, ASEAN

what is the first step of the market research report?

Executive summary

Those with an Internal Locus of Control believe fate controls all outcomes

False

global STP is more complicated than domestic STP because

Foreign consumers view products and their roles differently

Which of the following is an advantage of Secondary Data?

Free or inexpensive (except for syndicated data)

________________ pertain to the performance of a product or service

Functional needs

The consumer Decision Process includes all of the following except:

Physical Factors

Which need deals with the basic necessities of life (such as food, drink, rest, and shelter)?

Physiological

The formula for the customer lifetime value includes all of the following elements EXCEPT:

Price per item sold

What happens in the second step of the marketing research process?

Researchers identify the type of data needed and determine the research necessary to collect them

What is syndicated data?

data available for a fee from commercial research firms

What uses a variety of statistical analysis tools to uncover previously known patterns in data or relationships among variables?

data mining

Which of the following is not a step in ensuring post purchase customer satisfaction?

demonstrates other products and services that the company offers

what is the first step of positioning?

determine consumers' perception and evaluations in relation to competitors'

Which of the following is not a criterion for evaluating segment attractiveness?

differentiated

which entry strategy has the most significant risk associated with it?

direct investment

Geodemographic segmentation uses a combinations of _______, ______, and _______________ characteristics to classify consumers

geographic, demographic, and lifestyles

the process by which goods, services, capital, people, information, and ideas flow across national borders are referred to as

globalization

Which is the most widely economic metric used?

gross domestic product

which of these is not apart of a country's infrastructure?

hospitals

People who have an ________ believe they have some control over the outcomes of their actions, in which case they generally engage in more search activities

internal locus of control

Which of the following is NOT an example of a demographic?

lifestyle

The four macro, or overarching strategies that focus on aspects of the marketing mix to create value, deliver value, and develop sustainable competitive advantages are customer, operational, product, and ________ excellence.

locational

which of these is not one of the positioning methods?

market

the level of economic development, as well as differences in product and technical standards, help determine the need for and level of _______

product adaptation

it is the global ________ which offers marketing managers specifically three potential global product or service options from selling the same product to introducing an entirely new product

product strategy

Which of the following is NOT a step in the Marketing Research Process?

receiving feedback

which is not one of for targeting strategies?

referral marketing

__________ occurs when customers rely on past experiences rather than external information when purchasing a product or service

remembrance buying

Which is not a segment attractiveness?

sales

Which of these is NOT a Positioning Method?

sales

Because the US imports more goods than it exports, it operates under a

trade deficit

The US in it's recent economic history has become a nation dependent on importing more goods than it is exporting, this economic state is called:

trade deficit

Perception is the process by which we select, organize, and interpret information to form a meaningful picture of the world

true

True or False: Secondary data include external as well as internal data sources

true

The method of Alternative evaluation involves?

The consumer engaging in the information search

Social Risk involves

The fear consumers suffer when they worry others might not regard their purchases positively

A post purchase?

The final step in the consumer decision process

According to Hofstede's dimensions concept, which of the following dimensions is NOT offered?

Time management

What is a sample?

a group of customers who represents the customers of interest in a research study

what would children under 15 be considered?

a segment

Which of the following is not considered a segmentation method?

biographic

how many main value proposition components are there?

4

Which three components does attitude consist of?

Cognitive, affective, behavioral

________ is the market value of the goods and services produced by a country in a year

Gross domestic product (GDP)

What is the second step in the Consumer Decision Process

Information search

Psychographic segmentation is also called

Psychographics

If a consumer doesn't know a product exists, or doesn't understand what the product does what aspect of segmentation is not being met?

Reachable whi

Which set of data is collected prior to the start of the research project?

Secondary data

Attitude consists of three components, what are those components?

cognitive, affective, behavioral

What is the third step in the Marketing Research Process?

collecting the data

which is not a positioning method?

competition

Which of the following is NOT a positioning method for developing a positioning strategy?

concentrated targeting

Which of the questions below is the first step in segmenting a market

establish overall strategy or objective

Which of the following is not an actual or perceived risk that comes with purchasing decisions?

esteem risk

If during the search process a consumer is evaluating whether it is worth the time or effort of researching the product or service; they are what?

evaluating perceived cost vs perceived risk

Which entry strategy has the least financial risk associated with it?

exporting

After a consumer determines they want the product or service, they began to go to others for information on this product or service, what is this called?

external search for information

true or false: Data results from organizing, analyzing, and interpreting information and putting it into a form that is useful to marketing decision makers

false

What qualitative research type involves a small group of people that come together for an intensive discussion about a certain topic?

focus groups

What types of qualitative research are used in data collection research?

observation and in depth interviews

Which of these is NOT classified as a source for an external search for information?

personal experiences and opinions

Maslow's hierarchy of needs includes all of the following except:

physical

If Mike runs 2 miles and then immediately goes to purchase a large bottle of water afterwards, what type of need is he satisfying?

physiological

_______, or safety risk, refers to the fear of actual harm should the product not perform as expected.

physiological risk

what methods are used in order to get quantitative research for data collection?

survey, panel, experiments, and scanner (all of the above)

Which is NOT a type of qualitative research?

surveys

Which of the following is not an example of Secondary Data

surveys

Market research consists of which set of techniques?

systematically collecting data, recording data, analyzing data, and interpreting data

a ____ is defined as a tax levied on a good imported into a country

tariff

which one of these is a key element of a country's government actions?

tariff, quota, and exchange control (all of the above)

an internal search involves?

the buyer

An example on an Esteem driven need is:

the need to satisfy inner desires

Mass marketing is:

when everyone might be considered a potential user of the product

Geographic segmentation organizes into groups based on

where they live