41-60 Exam

. Information usually comes in either physical form or __________ form. A. electronic B. book C. note card D. verbal

A Electronic. Information usually comes in either physical form (anything on paper) or electronic form (emails, videos, spreadsheets, etc.). Book, note card, and verbal are not typical forms of information that a business must manage.

After The IWP Company receives online orders from its customers, it quickly replies to all of its customers with the following email message: "Thank you for your order. It will be processed within the next 48 hours." The email function that generates these types of messages is called a(n) A. instant message. B. autoresponder. C. mechanical reaction. D. timed reply.

B Autoresponder. Autoresponder is a computer program that automatically returns a specified message to anyone who emailed a particular address. The autoresponder function is a way for a business to quickly acknowledge the customer's message and to let him/her know that the company is going to take action within a certain timeframe. It is a way to provide customer service. Instant messaging is a computer program that allows one or more individuals to send typed messages via the computer in real time. Mechanical-reaction and timed reply are fictitious terms.

Which of the following is one element of a situation analysis: A. Marketing planning B. Environmental scanning C. Sales positioning D. Organizational testing

B Environmental scanning. A situation analysis is a determination of a firm's current business situation and the direction in which the business is headed. One element of a situation analysis is environmental scanning which involves collecting information about the environment surrounding the business. By scanning the external environment, the business can identify changes that may have an impact on the business. These changes may present threats to the business or opportunities for the business that the business considers during the marketing planning process. Businesses conduct a situation analysis as part of the marketing planning process. Sales positioning and organizational testing are not elements of a situation analysis.

What technology is the most effective way to interview a job applicant who is located 1,500 miles away from the company's corporate office? A. Text messaging B. Videoconferencing C. Web-based email D. Intranet

B Videoconferencing. Holding a video conference allows the interviewer to see the applicant and his/her reactions to the questions. Text messaging and email applications involve typing on a smartphone or a computer. These methods are time consuming and do not allow the interviewer to see or hear the applicant. An intranet is a business's internal computer network.

One way for businesses to obtain needed information efficiently is to A. read a book. B. schedule an interview. C. access a database. D. contact a competitor.

C Access a database. A database is computerized storage for information and facts. Most businesses maintain a database of information that is relevant to the business, such as lists of customers and vendors, inventory levels, prices of materials, etc. When businesses need information, they access the database to obtain the data efficiently. For example, a business could access a database to find out how many customers in a certain area purchased a specific product during a specified time period. Scheduling an interview, reading a book, and contacting a competitor are not ways for businesses to obtain needed information efficiently

Which of the following is a true statement about marketing-research studies: A. Lower level employees should not be involved in marketing-research studies. B. Marketing-research studies should be conducted once per year. C. Each marketing-research study is unique. D. Marketing-research studies are difficult to conduct.

C Each marketing-research study is unique. Each business and marketing-research study is unique, but there are a few common ways that managers and researchers work together to define the problem clearly and correctly. Marketing-research studies can be conducted more or less than once per year. Lower level employees may be very helpful with marketing-research studies. Marketing-research studies need not be difficult to conduct, especially with experienced researchers on hand.

One of the basic risks in marketing is the possibility of __________ loss. A. impersonal B. political C. financial D. promotional

C Financial. Financial loss, or the loss of money, is the basic risk in marketing. While it is impossible to eliminate all risk in marketing, there are several ways to reduce risk including developing effective marketing plans, information systems, financial plans, and loss-prevention plans. To the owner of a marketing business, any risk is personal rather than impersonal. Promotional expenditures could cause financial loss in some cases. Most marketing businesses are not involved in political activities.

Out of 25 survey respondents, 16 people rate a product's durability at five on a rating scale ranging from one to seven. What measure of central tendency does the number five represent? A. Disbursement B. Median C. Mode D. Deviation

C Mode. Mode is the answer to a question that respondents give most often. In the situation described, most respondents rated the product's durability at five on the marketing research survey, which makes the number five the mode. A median is the middle value of the established sample criteria. This means that half of the data or responses are below the median value and half are above the median value. Disbursement and deviation are not measures of central tendency.

Which of the following is essential to all marketing research: A. Secondary data B. Primary data C. Frequency D. Accuracy

D Accuracy. Accuracy is absolutely essential in gathering, recording, and analyzing marketing-research data if the data are to be of value to the business. Inaccurate data can cause the business to make incorrect or unwise decisions. The frequency with which research is conducted would depend upon the needs of the business. Primary data are facts collected specifically for the problem or project at hand. Secondary data are facts that have been collected for purposes other than the project at hand. A marketing-research project may require either or both kinds of data.

Which of the following is an example of a response error: A. Lydia provides her opinion about a new soft drink during a focus group. B. Jack does not provide his telephone number when he fills out an online survey. C. Rosanna checks two response options for one question on a paper questionnaire. D. Jack pauses for a moment before he answers the interviewer's question.

C Rosanna checks two response options for one question on a paper questionnaire. A response error occurs when a respondent provides an incorrect answer or response. Response errors often occur when respondents do not understand the question or when they hurry to complete the survey and do not read instructions or questions carefully. Because Rosanna provides two responses or answers for one question, the questionnaire contains a response error. A non-response error occurs when a respondent does not answer all of the questions in a survey. Because Jack does not provide his telephone number, the survey contains a non-response error. Providing an opinion during a focus group and pausing before answering a question are not examples of errors.

What device helps to ensure that direct-observation research is collected in a neutral way? A. Fax machine B. Global-orientation system C. Video camera D. DVD player

C Video camera. Direct-observation research is a type of marketing research that involves watching customers' in real time to assess their behaviors. For example, a business may want to watch its customers' shopping habits and browsing patterns to determine if the business is merchandising its products effectively. The business may have a researcher use a video camera to record the customers' behavior so that the researcher can review it later in detail. A global-orientation system, a fax machine, and a DVD player are not direct-observation methods that researchers use to collect data in a neutral

What type of software program do businesses use to create text documents? A. Communications B. Web-page editor C. Word processing D. Presentation

C Word processing. Most word-processing software programs are designed to be used to create text documents, although some have limited graphic capabilities. Businesses use word-processing software programs to write letters, memos, reports, business plans, and sales contracts. There are many different word-processing software programs available that enable businesses to create, edit, and store important text documents. Presentation software programs are used to develop visual presentations. Web-page editors are software applications that businesses use to create web pages. Communications software programs allow computers to communicate with other computers.

Which of the following is an example of quantitative data: A. "Tara is a great tutor." B. "Tara is one of the smartest kids in school." C. "I heard Tara is applying to Harvard!" D. "Tara graduated first in her class."

D "Tara graduated first in her class." Tara's class ranking is quantitative data. It's a statistical fact. The other statements are based on opinion or experience. They are examples of qualitative data.

What is the device that a business's employees use to obtain information about customers who access the business's website? A. Bookmarks B. Browsers C. Spiders D. Cookies

D Cookies. Some website computers place information, a "cookie," on a user's hard drive when the user visits the site. The next time a user visits that site, the site's computer recognizes the user because of the cookie. Marketing-information employees use cookies to maintain user information and track how many times a user visits a specific website or buys a product. This type of data allows marketing-information employees to customize websites in order to appeal to the preferences and habits of the consumers who are visiting their sites. A browser is software that allows a computer to access information on the Internet. Spiders are a type of search tool.

Using a computer-generated slideshow to highlight product information would be most appropriate in which of the following business situations: A. Union contract negotiations B. Project-team status meeting C. Employee performance review D. Formal sales presentation

D Formal sales presentation. Presentation software is often used to provide visual support for oral presentations. Presentation software is often used during sales presentations to provide customers or prospective customers with visual information about the product's attributes and benefits. Graphic depictions of products are especially useful for items that cannot be easily transported to other locations because the audience can see an image of the product. Status meetings, employee performance reviews, and union contract negotiations are not the most appropriate business situations in which to use a computer-generated slideshow to highlight product information. The purpose of a status meeting is to update the team about various aspects of a project. An employee performance review is a tool to provide workers with feedback about their work efforts. Union contract negotiations occur when management and labor representatives meet to reach agreement about the workers' pay, benefits, working conditions, etc.

Increasing membership by 25% during the next year might be one of the __________ of a health club. A. principles B. strategies C. tactics D. goals

D Goals. Goals are things or objectives that businesses want to attain. Increasing membership by 25% during the next year is a specific goal. Strategies are plans of action for achieving goals and objectives. Tactics are specific actions that will be used to carry out strategies. Principles refer to rules of conduct.

To protect the integrity of the marketing information they gather, businesses should avoid A. working with a publisher. B. paying for the data. C. surveying a lot of people. D. manipulating the research.

D Manipulating the research. Businesses can protect the integrity of the marketing information they collect by interpreting the research correctly and not manipulating it in such a way that it agrees with a predetermined conclusion. Protecting the integrity of marketing information is sometimes difficult because businesses often can make the research support either side of an issue depending on how they interpret it. Most businesses try to interpret the research correctly because consumers are sometimes suspicious of research findings that seem to support the opinions of the business that sponsors the research. Many businesses pay research organizations to collect and analyze data. Surveying a lot of people usually adds to the integrity of marketing information because a broad audience was involved. Working with a publisher does not affect the integrity of marketing information.

Which of the following is true about a survey-sampling plan: A. Tends to have extremely low error rates B. Eliminates respondent bias C. Is more reliable than observation D. Represents a larger group

D Represents a larger group. A sampling plan is the course of action for gathering marketing information from a section or portion of a target market. A business gathers data from a portion of the target market because the market is often too large to obtain data from each market member. Therefore, researchers use the sample group's responses to represent the larger group's opinions and ideas. Sampling plans use different methods to select and gather information. The marketing-research issue or problem and the way the sample data are collected influence but do not eliminate the respondents' bias and error rates. Observation is a method of collecting primary data, which may or may not be more reliable than other research methods

Maria is developing her marketing plan for her small, but growing, business. She notes that one of the advantages of her company is that her staff is highly creative and flexible; however, a primary limitation that she faces is that she does not have sufficient financial resources to expand her product line. In which component of the marketing plan would Maria place this information? A. Financial statement B. Promotional plan C. Marketing mix D. SWOT analysis

D SWOT analysis. A marketing plan is a set of procedures or strategies for attracting the target customer to a business. A component of the marketing plan is the SWOT analysis, which describes the businesses strengths, weaknesses, opportunities, and threats. Because Maria is describing one of her business's strengths (highly creative and flexible staff) and one of her business's weaknesses (lack of financial resources), she is working on the SWOT analysis. The promotional plan is the set of procedures or strategies for the business's promotional efforts. The marketing mix is the four elements of marketing— product, place, promotion, and price. A financial statement is a summary of accounting information.

Marketing has an effect on the quality of life and general living conditions of consumers, referred to as their A. value system. B. buying power. C. buying habits. D. standard of living.

D Standard of living. Standard of living is the way or manner in which people live. It is usually measured by the quality and quantity of the goods and services that people own and use. Consumers' buying power is the amount of money they have available to spend. Buying habits are the customary ways in which people make purchases. A value system is based on ethics or principles.