Marketing 101 Chapter 4 & 5

________ is the final step in the marketing research process.

Interpreting and reporting the findings

Annie Carson, the owner of Annie's Dairy Bar, is considering opening a second location. She evaluates several potential sites by assessing traffic patterns, neighborhood conditions, and the locations of competitors. Annie is engaging in ________.

Observational Research

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others.

Opinion Leader

Digital and social media play an important role in engaging always-connected business buyers in a way that personal selling alone cannot. (T/F)

True

The main differences between the business market and the consumer market are found in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved. (T/F)

True

Which of the following is true about customer relationship management (CRM)?

It consists of sophisticated software and analytical tools.

Which of the following is true of a good marketing information system?

It helps decision makers use the information to generate customer and market insights.

________ are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself.

Lagging Adopters

Which of the following is a psychographic characteristic of a consumer?

Lifestyle

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next?

Purchase Decision

Susan Hart, the manager of a children's boutique, collects data from her monthly records of sales, costs, and cash flow. In this case, Susan is making use of ________ databases.

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