Pre-test Review - ( MARKET RESEARCH )

A variable that has two distinct levels that are coded as either zero or one is called a(n) ____.

dummy variable

The Hard Rock restaurant and hotel chain operates locations around the world—Las Vegas, New Orleans, Chicago, Shanghai, Paris, and Berlin to name a few. Each location outside of the US is considered a subsidiary and allowed to compete independently in domestic markets. Hard Rock is utilizing a _______ strategy.

multidomestic

Which situation is LEAST conducive for qualitative research?

when needing conclusive evidence to be drawn from data

The director of marketing for 3M tapes tells the rest of the management team, "When it comes to our transparent packaging tape unit, our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the packaging tape unit falls into which one of the following classifications?

Cash cow

Khadijah wants to start a global business, but he is afraid of taking on too much risk. If you were advising Khadijah, which of the following global entry strategies would you recommend?

Exporting

The statistical significance of a regression model is determined using the ____.

F-test

When price of gold is low people frequently visit jewelry shops to purchase gold ornaments. When price of gold is high people avoid purchasing gold ornaments. Which statement is most likely true based on the information provided?

Gold is elastic

A researcher wants to select 50 customers from a sampling frame of 250 customers who have purchased at least $10,000 worth of products from his company within the past six months. The researcher wants to use a systematic sampling technique. After randomly selecting a starting point, the researcher should select every ____ name on the list.

5th

When a researcher has made the decision to conduct a survey using a sample of the population, the FIRST step in the selection of the sample is to ____.

define the target population

Research that is conducted to clarify the nature of a research problem is called _____ research.

exploratory research

The focus of qualitative research is on producing "numbers" that can be used in statistical tests. ( T or F )

false

The primary purpose of public relations is to stimulate immediate increases in demand. ( T or F )

false

The procedures and techniques used by applied researchers and basic researchers differ substantially. ( T or F )

false; all marketing research, whether basic/applied involves the scientific method

Otani is a Japanese e-commerce company that is building an American e-commerce company in South Carolina with administration, sourcing, logistics, and data centers all based in America. This arrangement is an example of a(n) _______.

foreign direct investment

The typical consumer in zip code 63119 is a senior citizen with several children over the age of 25, has a college degree, and is retired. What type of information has been provided in this example?

geo-demographic

Apple sells its iPhones all over the world without any modifications in the design. The iPhone purchased in New York is the same as the iPhone purchased in Shanghai. This is an example of _______.

global marketing standardizattion

In an experiment, the ____________________ variable is manipulated and its effect is measured on the ____________________ variable.

independent; dependent

When students tardiness is used to predict the test performance of students in a reqression equation, student tardiness is the ____ variable and test performance is the ____ variable.

independent; dependent

STP in marketing is an abbreviation that typically refers to:

segmentation, targeting, positioning

A marketing researcher wants to put together four focus groups of 18-24 year-old males who are "heavy downloaders of music" (defined as downloading 50 songs per month). Instead of asking people at a shopping mall whether they download music from the Internet, he finds one person in the target market who qualifies, and then asks that person to suggest the names of two other males between the ages of 18-24 who download music. The researcher will invite those two to participate in the focus group, and then they are each asked to suggest two others similar to themselves to participate in the focus group study. This procedure describes a ____.

snowball sample

____________ involves using some process for selecting a few initial respondents and then uses those respondents to seek out additional respondents.

snowball sampling

A marketing researcher must be objective in order to provide accurate information. ( T or F )

true

Marketing is both a philosophy, an attitude, a perspective or a management orientation that stresses customer satisfaction AND an organizational function and set of processes. ( T or F )

true

Chick-fil-A has found that customers who use their mobile app spend 25 % more on average. What type of growth strategy does this represent?

Market development

In Ansoff's Strategic Opportunity Matrix, ___________________________ is a marketing strategy that entails attracting new customers to existing products.

Market development

Olivia visits a department store and discovers that a box of imported chocolate will cost 10% more than what she had paid six months ago. Similar increases in prices across most goods and services are happening throughout the country. In this scenario, which statement is true?

Olivia's purchasing power would remain unchanged if she has a pay raise to match the inflation.

Kyle, the manager of a jewelry store, conducts statewide market research and collects data on customer preferences for various jewelry items. Based on her findings, she has to create a forecast of the items that customers are most likely to purchase. In this scenario, which role of marketing research is being used?

Predictive

When McDonald's sells cheeseburgers in India, there is absolutely no beef or pork used. The McDonald's Menu in India features Indian burgers that are 100 percent vegetarian. India is predominantly a Hindu country, and Hindus are strict in terms of not eating beef because they consider the cow as a holy manifestation of the divinity. This scenario is an example of _______.

Product adaptation

At a price of $2,000 per unit, the demand for Rancho 60 mountain bikes from Peyton Bike's Inc. is 300 units, which is the number of bikes the company manufactures every year. This is Peyton Bike's maximum output. If the marketing managers at Peyton Bike's Inc. decide to sell each bike at a price lower than $2,000 per unit, _____.

a shortage of bikes will be created

Which of the following best describes a role or function of marketing? Choose all that apply.

advertising a company's product in a certain way.

When a local television station sends a crew to interview joggers in the city park on a beautiful spring day, what type of sample is being used?

convenience sample

In its simplest form, marketing is about ____________________________________.

creating exchanges that create value

A single element or group of elements that is eligible for selection via the sampling process is called a ____.

sampling unit

All marketing research involves the use of the______________?

scientific method

Which of the following is NOT a component of the AIDA model?

Demand

In experimental research, categorical variables like a subject's gender or ethnicity are known as ____

blocking variables

A company decides to send an Internet survey to all of its 127-member sales force to determine their morale. This is a ____.

census

Which aspect of the marketing mix is represented by the value that a consumer places on a good when the consumer purchases that good?

price

Consumers are more likely to perceive the value of a product to be less than its price tag indicates if the product's _______.

price is set too high in their minds

In which type of sampling does every element in the population have a known, nonzero probability of selection?

probability sampling

Asking consumers what they think about a possible brand name for a new product is an example of which type of research?

product research

AT&T has discovered an 80 percent recognition of its logo with consumers who typically spend at least $75 per month on long-distance and wireless services. Which type of research was likely used to find this information?

promotion research

Sinclair owns an online clothing shop. She spends her entire advertising budget on Facebook, Instagram, YouTube, and other popular social media outlets. Why do you think that Sinclair only advertises on social media?

It has a very low cost per contact.

GE has been in the news lately for bringing back the production of GE appliances to its Louisville, Kentucky plant from China. This is an example of _______.

inshoring

Which type of analysis involves three or more variables?

multivariate statistical analysis