Marketing Final

Place the stages of the marketing research process in the correct order, with the FIRST step at the TOP.

1. Defining objectives and needs 2. Designing the research 3. Collecting the data 4. Analyzing data and developing insights 5. Developing and implementing an action plan

Which of the following are among the five stages in the marketing research process? (Choose every correct answer.) Multiple select question. Defining objectives Analyzing the data Collecting the data Staffing the research project

1. defining objects 2. analyzing the data 3. data collection

Which of the following best describes a focus group?

A small group of people put together for an intensive discussion Reason: Correct. A focus group is led by a researcher in an unstructured discussion.

Which of these is the best example of an unstructured question?

"Why did you choose the car you currently drive?" Reason: Correct. This question has no correct or definitive answer. Instead, it allows respondents to answer as they see fit.

Which of the following is an accurate definition of the term data?

Raw numbers with no intrinsic meaning

The last phase of the marketing research process is presenting ______ to decision makers.

Results

What analytical method does a firm typically employ to assess the target market and its own competencies?

SWOT analysis

Self-values

______ are goals for life, not just the goals one wants to accomplish in a day. They are the overriding desires that drive how a person lives his or her life.

An advantage of secondary data is that, compared to primary data, they ______.

are usually available at a lower cost Reason: Correct. Secondary data are either already available to a firm internally or are available publicly at relatively low cost.

Suppose you work in the marketing department of a company and your boss, the marketing manager, asks you to take on a marketing research project. "But I'm not giving you any money for data collection," your boss says. "You can just use secondary data; they can meet all our needs and we can get them for free." Which of the following is the best argument against your boss's decision not to give you any funds for the research?

Secondary data may not be specific enough to meet the needs of the research.

When researchers define the objectives and needs of their project, what are they trying to establish?

The problem that needs to be solved

What are the characteristics of structured questions? (Choose every correct answer.) Multiple select question. They are closed-ended. They include specific answers to choose from. They require respondents to answer in their own words They are open-ended.

They are closed-ended. They include specific answers to choose from.

In recent years, firms have improved their ability to collect data from which of the following sources? (Select all that apply.) Multiple select question. Transactions Customer relationship management systems Websites and social media platforms Bank records and tax returns

Transactions Customer relationship management systems Websites and social media platforms

In recent years, firms have improved their ability to collect data from which of the following sources? (Select all that apply.) Multiple select question. Transactions Websites and social media platforms Customer relationship management systems Bank records and tax returns

Transactions Websites and social media platforms Customer relationship management systems

True or False: Lifestyles are a component of psychographic segmentation that describes how an individual lives his or her life to achieve goals.

True Reason: Lifestyles, the third component of people's psychographic makeup, are the way we live our lives to achieve goals.

What are the causes of recent changes in the field of marketing research? (Select all that apply.) Multiple select question. Weaker federal privacy laws opening new avenues for research Access to analytic dashboards for decision making Improved ability to collect data Ability to store and manipulate data with computers Consumers becoming increasingly more difficult to analyze

Access to analytic dashboards for decision making Improved ability to collect data Ability to store and manipulate data with computers

An advantage of secondary data is that, compared to primary data, they ______.

Are usually available at a lower cost

The third step of the market segmentation process is to evaluate segment BLANK, which is based on such criteria as its profitability, responsiveness, and reachability.

Attractiveness

Southwest Airlines promotes its Rapid Rewards program to reward frequent flyers with benefits like free travel vouchers, priority seating, and premium beverages. This is an example of ______ segmentation.

Behavioral

Suppose that Coca-Cola were to divide its market up into segments based on the amount of soda consumers drink (heavy, medium, and occasional soda drinkers). What type of segmentation does this represent?

Behavioral

When a firm offers customers a loyalty card for car washes, the firm is employing loyalty segmentation, one of two common types of segmentation.

Behavioral

______ segmentation forms market segments based on the way consumers use a product, such as more frequently or with greater loyalty.

Behavioral

What type of segmentation categorizes consumers on the basis of the outcomes they hope to derive from a product or service?

Benefit

When marketers combine segmentation methods, which approaches do they typically use to design the product or service rather than to target communications to their customers? (Choose every correct answer.) Multiple select question. Geography Lifestyles Demographics Benefits

Benefits Lifestyles

Benefit segmentation is often effective because it is relatively easy to portray a product's or service's benefits in the firm's ______ strategies.

Communication

True or False: Consumers often evaluate alternatives while still engaged in the search process.

True Reason for not being false: During the search process, a consumer will likely come across information on competing products or services to be considered.

Match each of the following targeting strategies with the example that would employ that strategy.

Undifferentiated - A firm produces basic commodities like sugar, milk, and packaged ice. A firm produces basic commodities like sugar, milk, and packaged ice. Differentiated - Choice, Proctor and Gamble offers Pantene, Head and Shoulders, Aussie, and Wella shampoos. Concentrated - An infomercial firm sells a gadget to better fry and flip eggs in cooking. Micromarketing - A florist designs bouquets for a bride and five attendants.

How is information generally gathered in a survey?

Using a questionnaire

Firms find it necessary to use data mining techniques to extract valuable information from their _____________.

Data warehouses

The analyst prepares the results to present them to a firm's ______ as a final step in the marketing research process.

Decision makers

Age, gender, and income are all examples of ______ segmentation variables.

Demographic

When marketers seek to evaluate market attractiveness, what must they do first?

Determine whether the segment is worth pursuing

Because research is ______, it is important to figure out beforehand exactly what problem needs to be solved.

Expensive and time consuming

A firm that is considering changing the colors used on its packaging wants to determine the effect of different color schemes on sales. To do so, the firm places three different packages in stores in three different markets. What type of research is this?

Experimental Reason: Correct. An experiment involves determining cause-and-effect relationships between variables.

______ research systematically manipulates one or more variables to determine which variables have a causal effect on another variable.

Experimental Reason: Correct. Experimental research helps determine causal relationships.

True or false: A questionnaire is a research technique that attempts to analyze consumer sentiments based on their social media activity.

False

True or false: Marketing researchers are free to use customer data in any way they need to, as long as the researchers did not collect it.

False

Qualitative research relies on experiments and surveys.

False Reason why its not true: Qualitative research relies on observation, focus groups, social media, and in-depth interviews.

True or False: The consumer decision process starts with need recognition and ends with the purchase itself.

False Reason why not true: The consumer decision process begins with need recognition and ends with postpurchase, a step that follows the purchase.

Grouping a market by country, region (northeast, southeast), or areas within a region is known as segmentation.

Geographic

What are the causes of recent changes in the field of marketing research? (Select all that apply.) Multiple select question. Improved ability to collect data Consumers becoming increasingly more difficult to analyze Weaker federal privacy laws opening new avenues for research Ability to store and manipulate data with computers Access to analytic dashboards for decision making

Improved ability to collect data Ability to store and manipulate data with computers Access to analytic dashboards for decision making

Firms position products based on which of the following? (Choose every correct answer.) Multiple select question. Symbols Demographics Psychographics Value Salient attributes

Value Salient attributes Symbols

When does the consumer decision process begin?

When consumers realize they have an unfulfilled need and want to reach a different, desired state

What is a qualitative research technique in which trained researchers ask questions to a few selected participants individually, record the answers, and then ask additional questions if needed for clarification?

In depth interview

Marketing research consists of which of the following? (Select all that apply.) Editing data Selling data Interpreting data Collecting data Analyzing data

Interpreting data Collecting data Analyzing data

The in-depth BLANK is a qualitative research technique in which researchers ask questions in a one-on-one setting, record the answers, and then ask additional questions to clarify a particular issue.

Interview

______ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.

Marketing research

______ is a qualitative research method that entails examining purchase and consumption behavior through personal viewing or video camera scrutiny.

Observation

A clothing company that offers a special line of maternity clothing for women to wear specifically during pregnancy engages in which form of segmentation?

Occasion

Blank 1 segmentation is a very specific form of behavioral segmentation by which segments are formed based on when a product or service is purchased or consumed.

Occasion

Ellie's Deli offers good sandwiches and fast service to its lunchtime customers from a nearby university. It also delivers the same sandwiches packaged with side dishes as part of its catering services. This is an example of ______ segmentation.

Occasion

What is used to display, in two or more dimensions, the positions of products or brands in the consumer's mind?

Perpetual map

Need recognition would be greatest in which situation?

Pete returned home from work to find that his refrigerator is broken and that his refrigerated and frozen food must be thrown out.

What is a data collection technique that features a document with questions designed to gather information from respondents to attain researcher objectives?

Questionnaire Reason: Correct. A questionnaire is a document that asks questions of respondents.

The step in the marketing research process that follows research design is ______.

collecting the data

Market positioning is done so that the target customers have an understanding of the product offered by the company in comparison with ______ products.

competing

A perceptual map is used in developing a positioning strategy in order to display the position of the products or brands in the ______ mind.

consumers

______ are raw numbers, that on their own, have limited value to marketers.

data

The second step in the marketing research project involves design. In this step, researchers identify the type of ______ needed and work out the type of ______ necessary to collect it.

data; research

Observation can be described as ______ through personal viewing or by means of a video camera.

examining purchase and consumption behavior Reason: Correct. Observation involves watching how consumers behave.

Market positioning involves a process of defining the marketing mix variables so that the target customers ______.

have a clear, distinctive understanding of the product

As firms build databases that contain customer ______, marketing researchers must be careful not to abuse this collection, which may contain sensitive personal details.

information Reason: Correct. Some consumer information is collected without people's knowledge, and it is important that companies handle this data ethically.

Market researchers use social media to ______. Multiple choice question. develop ideas for new products learn about customers' likes and dislikes obtain syndicated data without paying for it conduct experiments

learn about customers' likes and dislikes Reason: Correct. People tend to post and share their preferences via social media.

Because each segmentation method has its unique advantages and disadvantages, most firms often employ ______ methods.

multiple

Need BLANK is the first stage in the consumer decision process.

recognition

All of the brands that Miguel can easily call to mind for laundry detergents, whether he would consider buying them or not, comprise his ______ set.

retrieval

When Akeelah is thinking about where she would like to eat lunch, she remembers five places close by where she has eaten before. Although she would not revisit some of them, these restaurants are part of Akeelah's ______ set.

retrieval

The ______ is the second step in the consumer decision process.

search for information

Which stage in the consumer decision process comes immediately after need recognition?

search for information

A(n) ______ question is a closed-ended question with a specific set of possible answers, such as a yes/no question.

structured

Social media sites can provide a firm with insights into a consumer's opinions about the firm and _______.

the consumer's opinions about the firm's competition Reason: Correct. Consumers may discuss other products that they use, including those of a firm's competitors.

In most situations, data collection should begin only after ______.

the research design process is finished Reason: Correct. Data collection (step 3) should begin after the completion of research design (step 2).

The consumer decision process is best defined as ______.

the steps consumers experience when making a purchase

Firms position their products based on methods such as ______.

the value proposition, salient attributes, symbols, and competition

Which of these is not an advantage of secondary data?

they are easy to customize

One disadvantage of secondary data is that ______.

they may not be exactly what the research project requires Reason: Correct. Because they are not tailored to a specific project, secondary data are often not a perfect match for the given requirements.

One disadvantage of secondary data is that ______.

they may not be exactly what the research project requires Reason: Correct. Because they are not tailored to a specific project, secondary data are often not a perfect match for the given requirements.

A focus group interview is a(n) ______ method of inquiry where a trained moderator leads a conversation according to a predetermined outline of the topic of interest.

unstructured Reason: Correct. Focus group interviews are open-ended discussions.

Firms that collect a large amount of customer information and purchase history store it in large computer files called data _________.

warehouses

Which of these is NOT an advantage of secondary research?

It is the best source of unbiased data

What are the advantages of secondary research? (Choose every correct answer.) Multiple select question. It reduces the cost of data collection. It is specific to data needs for the topic in hand. It saves time in data collection because it is readily available. It offers behavioral insights.

It reduces the cost of data collection. It saves time in data collection because it is readily available.

What are the advantages of secondary research? (Choose every correct answer.) Multiple select question. It reduces the cost of data collection. It is specific to data needs for the topic in hand. It saves time in data collection because it is readily available. It offers behavioral insights.

It saves time in data collection because it is readily available. It reduces the cost of data collection.

In which situation did an alternative evaluation option occur within the search process?

Kevin searches for a new car on the Internet before visiting the "The Mile of Cars" store

Market researchers use social media to ______.

Learn about customers likes and dislikes

In light of the high costs associated with finding new customers who feel that a brand can meet their relevant needs and are willing to exclude competitors, today's companies are using ______ segmentation and investing in initiatives to retain their most profitable customers.

Loyalty

Which of the following is NOT a market segmentation approach?

Product (segmentation includes: Benefits, Geographic, Consumption, Demographic)

Loyal customers buy a substantial amount from the firm. These loyal customers are the most ______ in the long term to the firm.

Profitable

In the second step of the marketing research process, what factor determines the type of data needed?

Project objectives

While some segmentation methods rely on external descriptions and factors to break down the market, ______ segmentation relies on consumers' descriptions of themselves.

Psychographic

______ research, such as a focus group, attempts to begin to understand phenomena of interest with broad, open-ended questions.

Qualitative Reason: Correct. Qualitative research uses broad questions to help researchers better focus their objectives.

Once a firm has gained insights from doing qualitative research, it is likely to engage in ______ research, which are structured responses that can statistically be tested. Secondary Descriptive Quantitative Consumer

Qualitative Reason: Correct. Quantitative research involves structured data collection that seeks to verify information collected through qualitative methods.

___________ research provides mathematical information needed to confirm insights, and managers can use it to pursue appropriate courses of action through many types of data collection.

Quantitative

Suppose you work in the marketing department of a company and your boss, the marketing manager, asks you to take on a marketing research project. "But I'm not giving you any money for data collection," your boss says. "You can just use secondary data; they can meet all our needs and we can get them for free." Which of the following is the best argument against your boss's decision not to give you any funds for the research?

Secondary data may not be specific enough to meet the needs of the research. Reason: Correct. Because they are not collected for a particular project, secondary data are usually not specific enough to be the sole sources for marketing research.

After evaluating each market segment's attractiveness, the next step in the STP process is ______.

Selecting a target market

______ is the image people ideally have of themselves.

Self-concept

Which of the following are examples of self-values? (Choose every correct answer.) Self-fulfillment Self-indulgence Self-respect Sense of belonging

Self-fulfillment Self-respect Sense of belonging

Another term for self-concept is ______.

Self-image

A(n) ______ question is a closed-ended question with a specific set of possible answers, such as a yes/no question.

Structured

A(n) BLANK , is a systematic method of collecting information from people through a questionnaire.

Survey

Marketers can purchase ______ data, which are secondary data available for a fee from commercial research firms.

Syndicated

If a media company wants information on consumers' television viewing habits, it can purchase reports compiled by commercial research firms such as Nielsen. This is an example of ______ data.

Syndicated data

Which of the following is an example of occasion segmentation for a chocolate maker?

The company offers some of its chocolates in heart-shaped boxes for Valentine's Day.

Unstructured questions are _____ questions.

open-ended