Marketing Research Quiz 1

Which of the following is NOT consistent with the definition of marketing research?

The definition states that marketing research is focused on data collected by someone else.

Which of the following is the best statement reflecting the purpose of marketing research?

To provide information that improves profitability.

Which of the following does NOT belong to using marketing research to generate, refine, and evaluate potential marketing actions?

Wal-Mart estimates the market potential in local Blacksburg.

Market research refers to________.

applying marketing research to a specific geographical marketing area.

Publix Supermarkets and The Little Clinic signed an exclusive agreement in 2006, placing small walk-in health clinics inside selected stores. Now Publix customers can have simple medical needs addressed in a convenient and familiar environment, seven days a week, and pick up their prescription from the pharmacy without even leaving the store. This is a prime example of

customer relationship management.

Which of the following marketing research activities is unique to the 21st century?

customer relationship marketing

The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price called

customer value.

If you were to ask a sample of marketing researchers today what their biggest concern is, it would no doubt be:

the future economy and big data.

Marketing mix refers to

the marketing manager's controllable factors- product, price, promotion, and place - that can be used to solve marketing problems.

Improving our understanding of ________ entails conducting research to expand our knowledge of marketing.

the marketing process

Which of the following is the best definition of marketing research? Marketing research is:

the process of gathering and analyzing data that may be used to solve a specific marketing decision problem.

Because marketing is defined as processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders, marketing managers must have information in order to determine values desired by customers and how to build customer relationships. This is an explanation that would explain:

why marketing research is a part of marketing; that is, marketing research provides information to allow marketing managers to understand values desired by customers.

Which of the following skills are required at the entry level of marketing research?

- Critical thinking. - Use statistical packages appropriately. - Oral communication. - Ability to find secondary data and collect primary data.

What are the potential applications of marketing research?

- Identify a marketing problem and opportunity. - Generate, refine, and evaluate potential marketing actions. - Monitor marketing performance. - Improve marketing as a process.

A research firm that specializes in one, or, at most, a few marketing research activities is:

A limited-service supplier firm.

An example of basic research is:

A winery needs to understand more about exporting wine.

In the movie, The Tin Men, two rival salesmen engaged in a variety of dishonest and unethical practices in order to sell aluminum siding to homeowners. Their job was difficult, in part, because the supply of aluminum siding surpassed the demand for the product and competition was intense. This situation is indicative of the __________ era of U.S. business history.

Advertising and salesforce evaluation.

Which of the following is NOT a question marketing research can assist in answering?

All are marketing research problem.

Which of the following is true regarding worldwide spending on marketing research?

Based on ESOMAR estimates, the marketing research industry is about a $43 billion industry.

As environments change, what should be revised on an ongoing basis to produce the right strategy for the new environment?

Business decisions.

Which of the following best illustrates one of the uses of marketing research, monitoring marketing performance?

Conducting a customer satisfaction study on firms' products and services.

United Way of Greater Toronto (UWGT), like many charities, was sitting on a gold mine of donor data (including companies, groups, and individuals). Unfortunately, UWGT was not certain how to use that information to its greatest advantage. UWGT could blanket past donors with generic mailings, but it could not offer donors information that would convince them to donate to UWGT rather than other charities. Which of the following tools would be most useful for the nonprofit organization to utilize?

Customer relationship management.

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?

Distribution research

When everyone saw the music industry facing a terrible decline due to pirating of songs on the Internet, Apple saw an opportunity for iTunes. This example illustrates which use of marketing research?

Evaluation of marketing actions.

The difference between basic research and applied research is that applied research is conducted to:

Expand our knowledge to solve a specific problem.

The appeal of do-it-yourself research has to do with:

Its cost effectiveness and increasing availability of marketing research tools.

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:

Pricing research.

Wrangler® developed several different proposed advertisements. They then used marketing research to test consumers' preferences for the different promotional messages expressed in the various ads. This is an example of which use of marketing research?

Generate, define, and evaluate potential marketing actions.

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?

Generating, refining, and evaluating potential marketing actions

When everyone saw the music industry facing a terrible decline due to pirating of songs on the Internet, Apple saw an opportunity for iTunes. This example illustrates which use of marketing research?

Identify market opportunities and problems.

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?

Identifying marketing opportunities and problems

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:

If that segment is growing or shrinking and how well competitors are fulfilling the wants and needs of that segment.

One of the most important emerging trends for client-side marketing research departments is:

Increasing use of do-it-yourself research.

Which of the following is true of marketing research?

Market research analyst is ranked as the best business jobs by US News in 2013.

Applying marketing research to a specific geographical marketing area is referred to as:

Market research.

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:

Marketing research does not always provide management with the right answer.

If you wanted a new pair of shoes during the Civil War, you traced the outline of your foot on a piece of paper and gave it to a shoemaker. There was no distinction between right and left foot because you wanted your shoes as quickly as possible, and the shoemaker knew that you would buy them even if they just "sort of" fit. In this era, which of the following alternative is an additional application of marketing research compared with the previous era (if there is any)? Hint: You need to first identify what era it is in the question and then understand how marketing research is applied in this era.

Marketing research is of little use in this era.

A strategic marketing process includes situation analysis, STP process (segmentation, targeting, positioning), and the marketing mix (product, price, promotion and place). Which stage of the strategic marketing process does marketing research belong?

Marketing research plays a pivotal role in every stage of the strategic marketing process.

Which of the following is a short definition of marketing?

Meeting needs profitably

After many years of relative stability in marketing research methods, the industry is undergoing great change in recent years due to:

New uses of traditional research tools.

Which of the following does NOT belong to using marketing research to monitor marketing performance?

Palmolive offers a $3 coupon to Kroger shoppers who purchased its new Colgate toothpaste.

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:

Product research.

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:

Promotion research.

Which of the following statements about customer value is most accurate?

Quality, price, convenience, on-time delivery, and both before-sale and after-sale service are all elements used to create unique benefits to targeted buyers.

In order to create the right strategies for decision-making, managers must have objective, accurate, and timely:

information.

Abe would like to locate a new unit of his franchised fast-food restaurant chain. He orders an evaluation of several city blocks from a marketing research firm. The research firm will determine the population, population growth, income, and other important demographic information for the defined geographical area. The research company will be performing:

market research.

Marketing research depicts the Saturn Motorcycle shopper as a middle-aged, college-educated individual with an average annual income of $75,000. This is an example of:

market segmentation research

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.

marketing information system