mark exam 2
Omar is responsible for marketing and marketing research for a mid-sized manufacturer of assemblies for the housing market. His boss has asked him to cut back expenses, especially in marketing research: "Why can't you just use information off the Internet? There's plenty out there." What is Omar's best response to try to get his boss to change his mind?
"Those are secondary data, and they may not be as timely, accurate, and relevant as what we need. Our decisions may not be as good, and we'll run a huge risk."
Raymond estimates that the fixed costs associated with opening a new bank branch are $500,000. He expects the branch to attract 1,000 new customer accounts in the first year, each of which will cost $50 per year to service. He also expects to generate $100,000 per year in revenue. For Raymond, the total cost of opening the new branch and remaining open for one year will be:
$550,000 (total costs= fixed costs + variable costs) (500,000 + (1000x50))
Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and his profit last year was $20,000. For Jacob, the contribution per unit is
$80 (contribution per unit= price-variable cost per unit)
sales volume =
(fixed costs+target profit)/contribution per unit
Which of the following statements is NOT one of the guidelines provided by the American Marketing Association for conducting marketing research? A.Personal information about research participants should not be shared, EXCEPT with a designated member of senior management. B. Selling or fundraising should not be conducted under the guise of conducting research. C. Researchers should not misrepresent data. D. Clients and suppliers should be treated fairly. E. Researchers should not omit pertinent data.
A. Personal information about research participants should not be shared, EXCEPT with a designated member of senior management.
A personal digital assistant programmed with key customers' birthdates, wine preferences, and food allergies is a(n) __________ tool.
CRM
One of the major tools used by marketers to meet the needs of loyal customers is
CRM (customer relationship management)
Which of the following is NOT one of the four criteria used for determining how good a brand is or how much equity it has? A.brand awareness B.brand loyalty C.brand associations D.brand conceptualization E.perceived value
D. brand conceptualization
market research begins with
Defining the objectives and research needs
Which of the following is NOT true regarding secondary packaging? A.It can provide information to consumers not found on the primary packaging. B.It is important to the retailer in terms of convenience in handling. C.it can be an important positioning tool to convey the brand image. D.It can allow for cost efficiencies due to larger order and shipment sizes. E.It is of little value to the average consumer.
E. it is of little value to the average consumer
Each time you go to the grocery store and have your purchases scanned while using a loyalty or bonus reward card, you are contributing to a database that can help marketers determine all of the following EXCEPT A.what a typical shopping list looks like. B.whether changes in prices affect buying. C.marketplace trends. D.what kinds of promotions might be attractive to you. E.other stores where you buy similar products.
E. other stores where you buy similar products
Which of the following is NOT one of the guidelines for developing a market research questionnaire? A. The layout should be professional and easy to follow. B. Questions should only address one issue at a time. C. Questions should be sequenced appropriately. D. Questions should use vocabulary respondents are familiar with. E. Sensitive questions should be asked first.
E. sensitive questions should be asked first
Which of the following scenarios is NOT a reason a firm would eliminate an item within a product line? A. The firm decided to refocus marketing efforts elsewhere. B. The firm must respond to evolving markets. C. The product undermined its own brand. D. The product being eliminated is unprofitable. E. The firm has decided to capture new markets.
E. the firm has decided to capture new markets
At the BMW plant in Spartanburg, South Carolina, suppliers deliver parts every four hours when the plant is in operation and are responsible for removing any packaging or pallets used to deliver their products. BMW uses a ______________ inventory control system
JIT
______________ systems are designed to deliver smaller shipments of merchandise on a more frequent basis to retailers.
JIT (Just-in-time)
in a retail supply chain, the ________ records the purchase information and electronically sends it to the corporate office.
POS terminal
If a 1 percent decrease in price results in less than a 1 percent increase in the quantity demanded, demand is
Price inelastic (Demand is said to be price inelastic if a percentage increase in price results in a smaller percentage increase in demand.)
T/F: One of the benefits of marketing research is it reduces the uncertainty under which managers make decisions.
True
A(n) __________ is a 13-digit code retailers can use to track inventory.
UPC
Caroline needs to find information about income and age distribution in Orange County, California. The best source of secondary research of use to Caroline is likely to be
US census data
Assume the demand for electricity, a necessity with few substitutes, is -0.2. If the electric company raised its rates by 10 percent, we would expect
a 2 percent decrease in quantity demanded
Customers must see value in a product or service before they are willing to exchange time or money to obtain it, but not all customers see the same value in a product. To analyze how many units will be sold at any given price point, marketers draw on
a demand curve
Yurgen is opening a financial consulting service for high-income retirees in his area. This target market is used to paying for quality and associates high quality with high prices. Yurgen should probably NOT use a market penetration pricing strategy because
a low price might signal low quality
For which of the following is demand likely to be most sensitive to price increases?
a specific brand of soft drink
Which of the following data sources would NOT be considered external secondary data? A.U.S. census data B.syndicated data C.newspaper articles D.scanner data E.a survey
a survey
Quincy had no idea how consumers would respond to a survey about attitudes toward a program opening up space travel to private citizens. He could use __________ to allow respondents to answer in their own words.
a survey with open-ended questions
Which of the following brand strategies is being used when the local ice cream shop decides to add a new flavor to its menu? A.a line extension B.a brand extension C.a copycat brand D.a premium brand E.a multi-brand
a. a line extension
Which of the following is NOT part of the "actual product" level of the product offer? A.product warranty B.features C.design D.quality E.brand name
a. product warranty
Which of the following is NOT one of the important functions of labels on products and packages? A.protecting against damage to the product B.providing consumer information to assist in purchasing C.identifying the brand and building brand image D.promoting the brand or complementary brands E.listing ingredients
a. protecting against damage to the product
Which of the following is NOT one of the benefits to a firm of new product development? A.reduced costs of production. B.satisfying the changing needs of current and new customers. C.avoiding market saturation from products that have been on the market for a long time. D.creating diversification and reducing risk. E.keeping up in a market where sales come mostly from new products.
a. reduced costs of production
Which of the following is most likely to be characterized by pure competition in the United States? A.soybeans B.cereal C.soft drinks D.computer operating systems E.fast food restaurants
a. soybeans
Beverly is assessing the results of a new product launch of a series of e-books for her bookstore. When evaluating the results, Beverly will likely consider all of the following EXCEPT A.why it took her so long to consider the new product line. B.whether the e-books are generating the expected level of profit. C.whether the e-books are generating the expected level of sales. D.whether her customers are interested in the new books. E.whether the e-books function as expected.
a. why it took her so long to consider the new product line
Roland has just received notification from a vendor that his clothing merchandise order has been processed and dispatched. Roland has just received a(n)
advanced shipping notice
Today, when a customer orders merchandise from an online vendor, the vendor usually sends an immediate order confirmation message by e-mail. Usually within a day or two, a second message arrives stating that the order is in the mail. This second message is a type of
advanced shipping notice
Especially in the fashion industry where styles and trends change rapidly, a quick response system can
align deliveries more closely with actual sales
Barbara is using a test model of her firm's new inline skates to see whether they work according to the design specifications. Barbara is involved in
alpha testing
Before Segway manufactured its two-wheeled people movers, it built a prototype and had staff engineers test it for performance and stability. At this stage, Segway was involved in
alpha testing
Golf ball manufacturers use Iron Mike, a machine that swings a golf club at a constant velocity, to test the distance for new golf ball designs. When using Iron Mike, the manufacturers are engaged in
alpha testing
Some credit cards provide free liability insurance, funded by the bank issuing the card, when a customer pays for a rental car using the card. This extra insurance is an example of
an associated service
Mary's Bakery is trying to determine what price to charge for her cookies, so Mary places a low price on them and raises it each week, keeping track of how many she sells. Then she determines what her cost was for the cookies and determines which price was the most profitable. What form of research was Mary conducting?
an experiment
Frank's Heating and Air Conditioning Company specializes in electric heat pumps. Frank keeps track of the price of natural gas, knowing that
an increase in the price of natural gas will increase demand for his electrical heating systems
Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as
an indicator of quality
brands can be owned by
any firm in the supply chain
A product is __________ that can be offered through a voluntary marketing exchange.
anything of value to consumers
Toyota, a well-established, reputable brand, recently introduced a new line of vehicles under the Scion brand, targeted at young car buyers. Toyota probably used the new brand to
appeal to a different market segment
Now that the consumer demand is building for Miranda's new organic shampoo, she and her team face a new set of decisions. Which of the following is NOT one of the decision items on the agenda for the team discussion of place in the marketing mix for a new product launch?
are the packaging colors working well with the target markets? (packaging is a product issue, not a place issue)
How might a book publisher use blogs in its marketing research efforts?
as a source of reviews of its latest releases
In a focus group, researchers usually videotape the session to
assess both verbal and nonverbal responses
What aspect of the product is being described when a used-car salesperson explains that each car comes with a one-year extended warranty and a two-year maintenance plan?
associated services
When conducting a survey about choosing vacation destinations, Hillary will need to __________ to get reluctant respondents to provide honest information
assure consumers that their individual responses will be kept confidential
Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support, and after-sale service?
augmented product
is many consumers in the marketplace are familiar with a brand and whit it stands for and have an opinion about the brand, the brand has considerable
awareness
Marketing research includes all of the following EXCEPT A.collecting data. B.creating data. C.recording data. D.interpreting data. E.analyzing data.
b. creating data
Firms can measure the success of a new product by all of the following factors EXCEPT A.satisfaction of its technical requirements. B.fewer competitors in the market. C.satisfactory sales and profits. D.customer acceptance. E.satisfactory performance.
b. fewer competitors in the market
Which of the following is NOT one of the five groups in the diffusion of innovation curve? A.Innovators. B.Non-adopters. C.Late majority. D.Early majority. E.Early adopters.
b. non-adopters
Which of the following was NOT a new-to-the-world product or service when it was introduced? A.Wi-Fi B.the Mercedes mini sport utility vehicle, a smaller version of its larger SUVs C.Microsoft's Windows operating system D.the MP3 player E.flat screen TVs
b. the mercedes mini sport utility vehicle, a smaller version of its larger SUVs (this was a variant)
Which of the following is NOT one of the four product life cycle stages? A.introduction B.location C.maturity D.growth E.decline
b.location
Bill desperately needed tires for his car, and he found an ad with an incredibly low price. When he got there, he found out that those had been sold out, and he was pressured into buying tires that were more expensive than he wanted. Bill found out later that Marcelo had had the same experience at the store a few weeks earlier. It's quite possible that both Bill and Marcelo had become the victim of a deceptive pricing tactic known as
bait and switch
In a __________ pricing tactic, sellers advertise low prices and then aggressively pressure customers to purchase higher-priced versions of the product advertised with the low price.
bait and switch
Why did PepsiCo reduce the weight of its water bottles by 20 percent
because pepsico was concerned about waste from its bottles
Why would a firm spend over $2 million for a 30-second ad on television during the Super Bowl?
because the super bowl offers an opportunity to create significant brand awareness
in the case of band-aid adhesive bandages, the brand name has
become synonymous with the product itself
Wanda and Jim are working on a research project to anticipate customer attitudes toward a proposed new product line for their company. They have worked with the marketing manager to determine the answers that are needed and have created a detailed design of the project. Their next logical step will be to
begin to collect data
The product life cycle is theoretically __________ shaped with regard to sales and profits
bell
If a few of Nintendo's customers are asked to try out a new video game that has not yet been released on the market, this is an example of
beta testing
One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions. Car racing provides an opportunity for
beta testing
If a fast food restaurant collected photographs of its regular customers so that it could use facial detection software to identify visitors captured by security cameras, this would be an example of using
biometric data
The pharmaceutical industry often justifies the high prices for new drugs by arguing that it researches as many as one hundred new compounds before it comes up with one __________, an extremely successful product that pays for the costs associated with the other attempts to develop new products.
blockbuster
Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort. You are engaged in __________, a form of new idea generation.
brainstorming
__________ occurs when the brand extension adversely affects consumer perceptions about the attributes of the core brand.
brand dilution
marco tried a new fruit-flavored beverage and thought it was awful. He was especially disappointed because he had liked the dried fruit snacks marketed under the same brand name. Now he wasn't sure he even wanted to buy the snacks he had liked before. This highlights a problem in branding known as
brand dilution
Jake developed a toothpaste using only natural ingredients, and he has been quite successful selling the product in health food stores and some grocery stores. He has recently developed a toothbrush using bamboo and natural components. Jake is considering a __________, giving the toothbrush the same brand name as the toothpaste to have greater brand awareness
brand extension
When a company launches a new product line with an existing brand name, this is known as
brand extension
When a restaurant chain, Big Burgers, launches its own brand of frozen meals, this is an example of a
brand extension
When Procter & Gamble added teeth-whitening products under the Crest brand, the firm was engaged in
brand extensions - using same name for new product line
Jenna always buys Stacy's brand pita chips. She does not even consider alternatives. Jenna is a __________ customer.
brand loyal
Matt was passionate about Abercrombie & Fitch. It was the only place he'd buy his clothes. If anyone asked him about clothes, he would talk for what seemed like hours about why he only shopped there. From a strictly marketing perspective, this word of mouth is an element of
brand loyalty
Efforts to change a brand's focus to target new markets or change the image of a brand are called
brand repositioning
brand dilution occurs when
brands are overextended and customer perceptions about the core brand are adversely affected.
The point at which the number of units sold generates enough revenue to equal the total costs of running an operation is known as the
break-even point
The basic reason manufacturers spend time and money building their own brands is to
build brand equity
If a firm has demographic and purchasing information about its customers, the firm can use data mining techniques to
build separate marketing programs for different demographic segments
Which of the following is NOT a stage in the product life cycle? A.introduction B.growth C.evaluation D.maturity E.decline
c. evaluation
Which of the following is the most logical example of complementary products? A.Hot dogs and hamburgers B.VCRs and DVD players C.Hot dogs and hot dog buns D.Honda cars and Toyota cars E.A university and a corporation
c. hotdogs & hot dog buns
David manages a Shoney's restaurant. He is considering staying open later in the evening. For David, the variable costs associated with staying open longer hours will include all of the following EXCEPT A.ingredients used in preparing food. B.hours worked by cooks. C.rent on the restaurant building. D.energy costs. E.hours worked by the waiters and waitresses.
c. rent on the restaurant building
When a customer purchases a DVD at a Best Buy electronics store, all of the following information flows in the supply chain are started EXCEPT A.the sales associate scans the UPC recording the sale. B.the sale is transmitted to Best Buy's distribution center to adjust inventory data. C.the purchase is added to the customer's purchasing habit records. D.Best Buy's buyer aggregates sales at all stores and uses the information to send a reorder to the manufacturer. E.the point-of-sale terminal records the sale and sends it to Best Buy's buyer.
c. the purchase is added to the customer's purchasing habit records
qualitative research
can be conducted to investigate the research problem to gain preliminary insights and more clearly formulate the research objectives
pioneer or breakthrough products
can change consumer preferences
In many cases, pioneers lose their market lead and initial market share to imitators who
capitalize on the pioneers' weaknesses
variable costs change with
changes in the quantity being produced
Yesterday, Lorinda overheard a surprisingly unpleasant encounter between the manager of the hardware store where she works and a sales rep who sells a well-known line of tools. The rep insisted that his tools should be more prominently displayed and that a better assortment would mean more sales. The manager had other plans and told him so, and the conversation turned into a loud argument. What Lorinda observed was an example of
channel conflict
Ted is glad his company finally converted to an RFID system. Now, he no longer needs to go through all the new goods to make sure what they ordered was what they received. Ted is responsible for __________ in his company
checking
The number of customers who discontinue their use of a service divided by the average number of total participants is called
churn
The owner of A. C. Flora Ford Dealership wanted to know why consumers chose his company to purchase a car. He was fairly sure that most customers had one of three reasons—service, reputation, or location—but wanted to know which was revealed as the most frequent reason for purchasing. A. C. Flora will probably use a survey with __________ questions to address his research problem.
close-ended
Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of
co-branding
When the company's dry goods deliveries were late for the third time, Melissa withheld payment from her supplier until it was back on schedule. This is an example of ________ power.
coercive
Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered __________ with consumers' needs and priorities.
compatibility
In many high-end resort markets, Westin hotels compete directly with Crown Plaza hotels. Each firm weighs the comparative advantages and disadvantages of its offerings to determine whether to price above, equal to, or below the other hotel. In these markets, the hotels are using a _______________ pricing strategy
competitive parity
When firms set prices similar to those of competitors, they are following a strategy of
competitive parity
When Ursula decides how to price new products in her gift store, she measures the value of her product offerings against those of the other stores in her area. Ursula uses a __________________ pricing strategy.
competitor- oriented
Diane owns a bakery where she sells cupcakes. Two blocks down there is another bakery, CC's Bakery, that sells cupcakes for $1 less than Diane. Diane decides to lower her price and match CC's Bakery prices. What type of pricing strategy is Diane implementing?
competitor-oriented pricing
One of the categories of products for which brand extension is especially logical is
complementary goods
Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because there were few places to dock these boats. Yachts and spaces to dock them are an example of
complementary products
In general, prices should not be based on costs because
consumers make their purchase decisions on perceived value
Franchising involves a(n) __________ vertical marketing system
contactual
Marketers selling milk, bread, and other consumer staples know most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods.
convenience
In a(n) __________ marketing channel, none of the participants has any control over the others.
conventional
brand are assets that can be legally protected through
copyrights and trademarks
When manufacturers try to understand what customers are looking for, they are thinking about the _______ component of the product offer.
core customer value
Sometimes brand names become synonymous with a product itself. If that happens, the brand
could use its trademark status (kleenex, scotch tape)
By adding new product lines beyond its core business of computer software, like the Zune MP3 player and Xbox 360 game system, Microsoft primarily benefits by
creating diversification and reducing risk
Which of the following is NOT required to build a successful strategic relationship? A.mutual trust B.open communications C.creation of a joint venture D.common goals E.credible commitments
creation of a joint venture
If a firm declared that it wanted to develop a strategic relationship, but was unwilling to commit funds or any effort to make it succeed, there would be an obvious lack of
credible commitments
In a __________ distribution center, merchandise moves from vendors' trucks to retailers' delivery trucks in a matter of hours.
cross-docking
__________ is when vendors ship merchandise prepackaged in the quantity required for each store to the distribution center.
cross-docking
Companies that develop customized business software often work closely with their users when installing their products. This close contact often creates new product ideas through
customer input
Julia's is an upscale women's clothing store. Prices are based on customers' beliefs about the value of the clothing. The store focuses on a limited target market and provides excellent customer service. Julia's is using a ________________ pricing strategy
customer oriented
A no-haggle pricing policy is a type of _______________ pricing strategy.
customer-oriented
Traditional demand curve economic theory is used by marketers to understand _______________ in the five Cs of pricing.
customers
In addition to merchandise and payments, information flows throughout a supply chain. Which of the following is NOT a good characterization of the flow of information in a supply chain?
customers will send and receive information from stores and manufacturers
Which of the following is NOT one of the five Cs of pricing? A.customers B.channel members C.cost D.collaboration E.company objectives
d. collaboration
The full price of a product or service includes all of the following EXCEPT A.taxes. B.shipping. C.travel costs. D.the price of alternative products and services. E.value of the consumer's time.
d. the price of alternative products and services
________ can be defined as raw numbers or other factual information that, on its own, has limited value.
data
Before deciding on a new promotional campaign, Jeffrey's Muffins looked at its customers' buying patterns over a 15-year period as determined by their use of a loyalty card. What method did Jeffrey's use to make sense of the data that was available?
data mining
Supermarkets collect information about individual customers through their use of loyalty cards and then analyze the data to look for patterns in purchases. This is an example of
data mining
Through analysis of sales data, Price-Cutters retail store found that customers who bought peanut butter also tended to buy bananas. Price-Cutters was engaged in
data mining
price advertisements should never
deceive customers to the point of doing harm.
During the ___________ stage of the product life cycle, firms either position themselves for a niche market of loyal consumers or they exit the market
decline
Paul listens to music on his iPod and iPhone, but he still buys vinyl records at his local music store on occasion, although they are getting harder to find. Vinyl records are in the __________ stage of the product life cycle.
decline
If the price for a product increases, the demand for the complementary product will
decrease
Managers of Wendy's fast food restaurants keep track of prices at competitors such as McDonald's, Burger King, and Arby's, knowing that a decrease in the prices at these other fast food restaurants will
decrease demand for Wendy's products
For many years, General Electric's corporate strategy was to be among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company __________ when certain product lines failed to meet this expectation.
decreasing product mix breadth
How can a company find its way out of a market characterized by pure competition?
differentiate the product in some way, even by packaging, so customers will see it as distinct
The process by which the use of a new product or service spreads throughout a market group is referred to as
diffusion of innovation
Marketers with luxury brands use brand extension cautiously in order to avoid
diluting the core brand
Sophie made pies and sold them from her food trailer at businesses. This is an example of a(n)
direct marketing channel
Which of the following is NOT one of the activities carried on in a distribution center? A.Coordinating inbound transportation B.Receiving, checking, storing, and cross-docking C.Distributing paychecks and paystubs for retail employees D.Getting merchandise floor ready E.Coordinating outbound transportation
distributing paychecks and paystubs for retail employees
A _______________ is a facility for the receipt, storage, and redistribution of goods to company stores or customers.
distribution center
the breakeven point is estimated by
dividing fixed costs by contribution per unit
All of the following are ways that manufacturers use promotion to generate demand for new products with consumers EXCEPT A.short-term price reductions. B.coupons. C.rebates. D.advertising. E.coordination of delivery and storage.
e. coordination of delivery & storage (this is element of palce, not promotion)
Which of the following is NOT an advantage of using a distribution center? A.More accurate sales forecasts are possible. B.Retailers need to keep less merchandise in the store as inventory if the stores get frequent deliveries. C.It is easier to avoid running out of stock or having too much stock. D.Use of a distribution center saves money since the storage space at a distribution center is generally less expensive than that of a store. E.Customers know they are dealing with a more sophisticated and financially well-off operation if the firm uses a distribution center.
e. customers know they are dealing with a more sophisticated and financially well-off operation if the firm uses a distribution center
The growth phase of the product life cycle is always dynamic. Which of the following does NOT occur in this phase? A.Profits increase as sales increase. B.Profits increase as economies of scale are attained. C.Some new competitors may enter the market with similar products. D.Some competitors will exit in an industry shakeout. E.Price competition with protracted price wars erodes profits.
e. price competition with protracted price wars erodes profit
Which of the following would NOT be part of the launch of a new product? A.educational efforts for complex or conceptually new products B.technical support staff for technical products C.determining the price for the product D.incentives for distributors E.starting to make preliminary decisions about the target market
e. starting to make preliminary decisions about the target market
The basic motivating factor in designing supply chains is that
each party wants something from the others
If the __________ diffusion of innovation group is relatively small, the number of people who ultimately adopt the innovation likely will also be small.
early adopter
Robin recently bought Voice over Internet Protocol (VoIP) phone service. A few of Robin's friends bought VoIP before she did, but many other friends were interested in Robin's opinions of the new phone service. Robin is a(n) __________ in this product category.
early adopter
As soon as she saw one, Hillary wanted a flat-screen television, but she was worried about making the wrong choice. She waited until there were alternatives in the market with lower prices and improved quality. Hillary is part of the __________ diffusion of innovation group
early majority
The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.
early majority
the value of a brand is often calculated by assessing the
earning potential of the brand over the next 12 months
For a brand name to be effective, it needs to be
easy for consumers to recognize and remember.
Typically, manufacturers and retailers exchange business documents through a(n) __________ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back.
electronic data interchange
Flora is frustrated with her company's supply chain management information system. She wants to be able to receive sales data, initiate purchase orders, send and receive invoices, and receive returned merchandise documentation. Flora needs a(n)
electronic data interchange system
the potential benefits of brand extension do Not include A.allowing the perception of a brand with a quality image to be carried over to the new product. B.lowering marketing costs. C.boosting sales of the core brand. D.spending less on creating brand awareness and associations. E.eliminating competition.
eliminating competition
Brand __________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.
equity
One of the potential benefits to a firm of introducing new-to-the-world products or services is
establishing a completely new market
Successful first movers create a market or a product category. They often benefit from being readily recognizable to consumers and
establishing an early market share lead
Break-even analysis is useful because it allows managers to
estimate the quantity they will need to sell at a given price to break even
a demand curve is built assuming that
everything but price and demand remains the same.
Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Business people tend to be more cautious before embarking on a marketing research study, recognizing that research is often
expensive and time consuming
Production of the DeLorean car, made famous in the film Back to the Future, never got above 25,000 units during its lifetime. Automobile industry analysts estimate that production of this car needed to reach around 300,000 units to achieve the __________, a decrease in unit cost as product volume increases.
experience curve effect
The __________ occurs when unit cost drops as the quantity sold increases.
experience curve effect
__________ research is a type of quantitative research that manipulates variables to help determine cause and effect.
experimental
Which of the following types of research would be considered quantitative research?
experimental research
Digital billboards embedded with ________ software can identify passersby and then display ads targeted to them, based on their age, gender, and attention level.
facial recognition
when consumers associate a brand with a certain level of quality and familiar attributes, allowing consumers to make quick decisions, the brand
facilitates purchasing
T/F Briena is looking at the results of a syndicated study conducted two years ago. Briena is looking at primary data.
false
T/F Panel data are always secondary data.
false
T/F The terms external secondary data and syndicated data mean the same thing.
false
T/F: Proving that a company has engaged in the deceptive bait and switch practice is easy.
false
t/f A decrease in a company's product depth will always hurt its marketing efforts.
false
t/f A familiar brand name always helps the sales of a product.
false
t/f A product label is just a required sticker on a package.
false
t/f For the average college student, a retirement account would be a shopping product
false
t/f In entertainment licensing, the major risk to licensees is that the brand will become overexposed.
false
t/f Sales of private-label brands continue to decline in the U.S., particularly in big-box stores such as Costco.
false
t/f The more familiar customers are with a brand, the harder their decision-making process will be.
false
t/f: A firm just starting out usually has the option of choosing from whom it buys and to whom it sells.
false
t/f: At the break-even point, profits are maximized.
false
t/f: Brands that have developed loyal customers have a higher price elasticity of demand.
false
t/f: Conflicts within a supply chain tend to be more pronounced when the members are part of a corporate vertical marketing system.
false
t/f: Distribution centers are always operated by distribution specialists.
false
t/f: Price is the cash expenditure plus taxes that consumers have to pay for a good or service
false
t/f: Private-label brands are imitations often sold by street vendors
false
t/f: Retailers generally have no prior knowledge of the merchandise they will be receiving from suppliers in any particular shipment.
false
t/f: Test marketing refers to customers who modify existing products according to their own ideas to suit their specific needs.
false
t/f: The demand curve for prestige products generally slopes downward due to higher prices
false
t/f: marketing research should be used only to produce favorable recommendations for senior management to consider
false
t/f: one of the key characteristics of brainstorming sessions is that bad ideas should be immediately rejected so the group can focus its attention on good ideas
false
t/f: the marketing research process follows five steps, and to be effective, they must be followed in order without omitting any steps
false
t/f: the maturity phase of the product life cycle is characterized by greatly reduced competition
false
t/f: For a company like Pepsi-Cola, brand dilution occurs when sells more product than the competition.
false - Brand dilution refers to overuse of the brand for brand extensions, such that brand equity becomes weaker.
t/f: Brand equity is calculated by subtracting sales of generic brands from the sales of branded items in a category.
false - Brand equity is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.
t/f: The diffusion of innovation curve follows the following sequence: innovators, early majority, early adopters, late majority, and laggards.
false - bellshaped curve made up of innovators, early adapters, early majority, late majority & laggards
t/f: As personal computers became popular, the sale of typewriters decreased significantly and now typewriters are only used by a very small segment of consumers. Typewriters are in the maturity stage of the product life cycle.
false - decline stage
t/f: Quick response systems allow retailers to maximize their inventory holdings.
false - designed to minimize inventory levels
t/f:Although innovation strategies may not work in the long run, overriding short-term reasons compel firms to introduce new products and services.
false - innovation strategies focus on long-term objectives, which sometimes do not work in the short run
t/f: the diffusion of innovation curve, the first group of buyers who want to be the first on the block to have the new product are known as early adopters
false - innovators come first
t/f: Universal product codes (UPC) are used to describe products for inventory taxation purposes.
false - it is the black and white bar code
t/f: Diana owns a boutique specializing in ball gowns. Sales are stable and Diana feels it is time she had a 20 percent increase in her salary. If Diana takes this increase in compensation, it will decrease the break-even quantity of gowns she needs to sell on a monthly basis.
false - it would increase bc salary increase would raise fixed costs
t/f Kellogg's sells many breakfast cereals, including Corn Flakes, Rice Krispies, Frosted Flakes, Raisin Bran, and Special K. This is an example of the breadth of the Kellogg's product mix.
false - product line depth
t/f: A company's product line consists of its various product mixes
false - product mix consists of various product lines
t/f: A demand curve shows the relationship between income and demand.
false - relationship between price and demand
T/F: Data that have been collected prior to the start of the current research project are considered primary data.
false - secondary data is collected prior to start of research project
T/F When survey data are analyzed in depth to determine consumer attitudes toward a product, this is an example of sentiment mining.
false - sentiment mining analyzes consumer comments on social media to gain insights about thoughts & preferences
T/F Warren is conducting a marketing research project. He is not sure what questions to ask or what types of consumers he should talk to. Therefore, Warren should begin by conducting quantitative research.
false - start with qualitative
t/f: On the diffusion of innovation curve, the late majority is the final group of buyers that like to avoid change and rely on traditional products until they are no longer available.
false - these are laggards
T/F Quentin is in a group of 8 to 12 people and is being asked questions by a trained moderator. Quentin is part of an in-depth interview group.
false - this is a focus group
t/f A customized carved cedar wood sign for your house is an example of a convenience product.
false - this is a specialty product
T/F When Glenn asked a few of his regular customers to test his prototype surfboard, he was engaging in alpha testing.
false - this is beta testing
t/f If Microsoft decided to sell mobile phones under the Xbox brand (which it uses for its gaming systems), this would be an example of a line extension.
false - this is brand extension
t/f: Firm A has set very low prices for its products in an attempt to drive its competitor, Firm B, out of business. This is known as monopolistic pricing.
false - this is predatory pricing
t/f: When Sony released its PlayStation 3 game machines, it charged a high price, attracting the most avid game players. This was a market penetration pricing strategy.
false - this was a price skimming strategy
t/f: when social media are used to gather research on customers attitudes & behaviors, protecting consumers' privacy is up to the company conducting the research
false - up to consumer
Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers
fast responses at a lower cost
Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and snacks are all bar-coded and priced, and the package includes an end-of-the-aisle display rack. Colin has received a __________ shipment.
floor-ready
Merchandise that arrives in the delivery truck ready to be sold is considered
floor-ready
Some retailers require their suppliers to ship merchandise ___________, thus eliminating the time and expense associated with ticketing and marking.
floor-ready
When Cynthia's Boutique receives dresses, they already have price tags and are on hangers. Cynthia's Boutique receives __________ merchandise.
floor-ready
A(n) __________ is a small group of people brought together for an intensive discussion of a topic.
focus group
Martin has hired a market research company to bring together a small group of soft drink consumers and get feedback on the three new advertising slogans his firm is considering. The market research firm might conduct a(n) __________ to provide the information Martin has requested.
focus group
Frederica manages an upscale women's clothing store. She wants more information about her customers' general feelings about upcoming fall fashions. Frederica will most likely use __________ to gather this type of data.
focus group interviews
Tyree is concerned about a competitor's new line of outdoor barbeque grills that provide most of the same features as his products. Tyree might consider using __________ to gather qualitative information from consumers about the competitor's offerings.
focus groups
The most common type of contractual vertical marketing system is a
franchise
what is wrap wage?
frustration by a customer when the packaging makes it difficult to get at the product
Which of the following is LEAST likely to be a source of ideas for new products? A.R&D efforts B.licensing technology C.consumer research D.geodemographic segmentation E.brainstorming
geodermographic segmentation
in what country have regulators demanded that facebook stop collecting biometric data on its users?
germany
Nora is deciding whether to purchase brand name sneakers or a store brand. She has purchased other shoes with the same brand name in the past but was only marginally satisfied. In this situation, Nora is likely to purchase the store brand sneakers because they offer
greater perceived value
During the __________ stage of the product life cycle, sales rise, profits rise rapidly, and there are a small but increasing number of competitors.
growth
During the __________ stage of the product life cycle, there are few but an increasing number of competitors.
growth
When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle.
growth
procter & gamble is a huge national brand manufacturer. By having leading brans like tide and crest, P&G
has greater control over marketing strategy
Each time a politician or celebrity writes a book, bookstores can expect at least some customers to want the book, but whether it will become a bestseller is less certain. The bookstore's primary inventory management challenge is
having enough books to satisfy customer demands versus the cost of having the inventory
Concept testing is important because it can
help a firm avoid the costs of unnecessary product development.
Every month, Dr. Combahee takes her staff to lunch and asks them to share patients' comments and concerns. Dr. Combahee uses the lunches as an informal marketing research effort intended primarily to
help her to understand the needs of her customers
Innovators are a critical group of new product adopters because they
help the product gain market acceptance
Gerald has a number of customers for his lawn care service who never question his bill but expect their lawns to be perfect. These customers do not want low prices, they want
high value
What type of pricing tactic is being used when several airlines agree to charge the same fare for a single route?
horizontal price fixing
__________ price fixing occurs when competitors collude to control prices, and __________ price fixing occurs within a marketing channel to control prices passed on to consumers.
horizontal;vertical
Marvin is looking for data to help him with a new market research study assigned to him. When reviewing existing secondary data from a past research study, Marvin should pay careful attention to
how and when the secondary data were collected
Victor's custom auctioneering service provides online auction selling assistance. Victor plans to conduct marketing research to determine which auction site is best for his customers. His next step is to
identify the type of data he needs to have
in a competitive market, perceived value is determined by consumers mostly
in a relationship to the value of competitors' offerings
Zan wants to collect considerable information about the current opinions of his ten most important customers. Zan will probably use the __________ research method.
in-depth interview
Nadia stood outside the mall and asked people which stores they visited and if they bought anything. If they said yes, she asked them what they bought and how they came to the decision to buy that item. What form of research was Nadia most likely conducting?
in-depth interviews
Randall wants to do an online survey of college professors about the factors that influence their textbook selection. He would like to use a structured survey but is not sure what responses to include for each question. Randall could use __________ to help him develop his survey.
in-depth interviews
Using __________, researchers ask questions, listen to and record responses, and ask additional questions based on initial responses.
in-depth interviews
When the detailed opinions of a few industry experts or experienced consumers are needed, __________ are often the best qualitative research method.
in-depth interviews
Which of the following research methods would be best in helping a marketer understand how people feel about a product or service on an individual, detailed level?
in-depth interviews
one important purpose of a brand is to
increase consumer recognition and awareness of product offerings
Tess is the marketing manager for a fast food restaurant chain. She uses a target return pricing strategy because her firm's primary objective is to
increase profits
Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company—Procter & Gamble. Old Spice and Iams are known as
individual brands
Retailers often perform ticketing and marking functions in their distribution centers rather than in their retail stores because ticketing and marking is often
inefficient and expensive
A study found that, among addicted smokers, a 10 percent increase in the price of cigarettes resulted in a 2 percent decrease in quantity demanded. For these consumers, cigarettes have a(n) ________________ price elasticity demand
inelastic (-2/10=-0.2) >-1= inelastic demand
__________ is the process by which ideas are transformed into new products and services that will help firms grow.
innovation
Whenever Donald considers upgrading his personal computer system, he consults with Jeremy, a knowledgeable friend who always has the newest technology. For Donald, Jeremy is a(n) __________ in the diffusion of innovation curve
innovator
During the introduction stage of a product's life cycle, typical consumers are
innovators
Which of the following is the correct sequence of new product adopters in the diffusion of innovation curve?
innovators, early adopters, early majority, late majority, laggards
Price skimming focuses on selling products to __________ and __________ in the consumer adoption process model.
innovators; early adopters
When supply chain members view their goals and ultimate success as intricately linked, or ________, they develop deeper long-term relationships.
interdependent
Which of the following types of data would be the best choice for Wendy's fast food restaurants if the headquarters office wants to know how many hamburgers versus chicken sandwiches it has sold in past years?
internal secondary data - based on a company's day-to-day operations
During the __________ stage of the product life cycle, sales are low and profits are small or negative.
introduction
__________ are special incentives offering reduced prices for a limited time, offered to retailers to get them to try a new product.
introductory price promotions
A strategy of setting prices based on how customers develop their perceptions of value can often be the most effective pricing strategy, especially if the strategy
is supported by consistent advertising and distribution strategies
Assuming that a market research study will answer important questions and reduce uncertainty associated with the proposed project, a major question that needs to be addressed before starting the study is:
is top management committed to the study?
one of the limitation associated with break-even analysis is that
it assumes that there is only one price
a major advantage of primary data collection is that
it can be tailored to meet the specific research needs
One key feature of the value of a strong brand is that
it can protect the firm from competition
which of the following is true about quantitative research?
it confirms insights and provides a basis for taking a course of action
Students of marketing often overlook or underestimate the importance of place in the marketing mix simply because
it happens behind the scenes
The manager of a company selling cellular phones in rural U.S. markets asks you to conduct survey research into the question, "What percentage of people in Kansas live in communities of fewer than 10,000 people?" The problem with this research objective is that
it is already known and available from the US Bureau of the Census
Marketers with successful brands sometimes hesitate to expand their brands because
it is costly to maintain many product lines, and it might weaken the brand's meaning
The manager of a company selling baby products asks you to conduct research into the question, "Is life expectancy getting longer in Kuwait?" The problem with this research objective is that
it is irrelevant to the baby products company
The CEO of David's firm just came back from a business seminar, and he called David into his office. He stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that
it is often impossible to identify with precision where a product is in the product life cycle
When a product is successful in the introductory stage of the product life cycle
it may start to see profits toward the end of this stage
a major disadvantage of primary data collection is
it takes more time to collect than secondary data and is more costly
Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products, because they know that their customers crave the latest and greatest games. They use this information to create new products that primarily provide the benefit of
keeping up in a market where sales come mostly from new products
Parents of young children have been known to drive out of their way so their kids will not see McDonald's Golden Arches and plead with their parents to stop. For McDonalds, the Golden Arches reduce marketing costs because people (including young children)
know what golden arches brand symbol means
Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't have one. George would probably be considered a(n) __________ in the diffusion of innovation process
laggard
When John began helping his favorite uncle Burton with his finances, he discovered his uncle was still renting a rotary-dial telephone from the phone company. Uncle Burton had paid thousands of dollars in rental fees over the previous forty years. Uncle Burton is a(n) __________ in the diffusion of innovation process for telephones.
laggard
Which of the following is NOT a characteristic of products in the maturity stage of the product life cycle?
laggards are a major focus of marketing efforts
By the time BMW got into the mini-SUV market, sales had leveled off and were even starting to decline. BMW had to target its marketing efforts toward the __________ diffusion of innovation group.
late majority
The __________ diffusion of innovation group is the last large group of consumers to adopt a new product or service.
late majority
When microwaves were new, they often cost over $300, were huge, and had numerous settings and options. Brenda and Bart waited, concerned about potential health hazards and wishing for more choices in the market. By the time they purchased a microwave, sales of microwaves had leveled off and prices had declined significantly. Brenda and Bart were part of the ___________ diffusion of innovation group
late majority
Which of the following adopter categories refers to the last large group of buyers to enter a new product market?
late majority
__________ are customers who modify existing products according to their own ideas to suit their specific needs.
lead user
Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see whether they are using his tools for other tasks or have modified the tools for some other purpose. These customers are __________, who can provide ideas for new and improved products.
lead users
________ power is based on getting a channel member to behave in a certain way because of a contractual agreement.
legitimate
A __________ brand is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee.
licensed
Which of the following best describes when Johnson & Johnson introduces a travel-sized package for its existing baby oil product?
line extension
__________ pricing tactics lower the price of a product below cost.
loss leader
For marketers, one of the benefits of having achieved brand loyalty is
lower marketing costs associated with reaching loyal customers
The decision to delete a product is never taken lightly because, generally, manufacturers have
made substantial investments in product development and manufacturing
Frequent buyer/user award programs are used to
maintain contact with loyal customers
Whether they like them or not, most U.S. automobile customers are familiar with and have an opinion about American-made cars. This familiarity makes it easier for consumers to
make purchase decisions
The __________ is a specific price at which manufacturers encourage retailers to sell a product.
manufacturer's suggested retail price
Mario is the first retailer in town to sell games for Sony's new PlayStation 3 machine. Mario wants to quickly capture as much of the market for the new games as possible. Mario will likely use a __________ pricing strategy.
market penetration
With a __________ pricing strategy, marketers set a low initial price for the introduction of a new product or service.
market penetration
Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can only market to his current customers or
market the same products to similar customers
It is the responsibility of __________ to determine the ethical approach to setting prices so consumers find value and the firm can make a profit.
marketers themselves
A(n) __________ is the set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption. A.marketing channel B.distribution center C.logistics chain D.strategic relationship E.electronic data interchange
marketing channel
By the time BMW and Mercedes Benz entered the mini-SUV market, there were many competitors, sales had peaked, and profits were declining. These firms entered the market during the __________ stage of the product life cycle.
maturity
Cathy has used Olay beauty products for years, even though there are many competitors on the market. She plans to purchase a recently introduced micro-sculpting cream from Olay's regenerist line. Olay is in the _________ stage of the product life cycle.
maturity
During the __________ stage of the product life cycle, sales peak and profits begin to decline as competition becomes intense
maturity
In the United States, most consumer packaged goods found in grocery and discount stores are in the __________ stage of the product life cycle.
maturity
A _________________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen.
maximizing profits
The marketing research process follows five steps, and researchers
may not always go through them in the exact sequence if the situation changes or new information is discovered.
Earl was known for driving 30 miles to save a dollar on the price for his favorite beverage. Earl perceived price as ________________, while most consumers recognize price as the ______________ made to acquire a good or service.
money paid; overall sacrifice
Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media. Paul is using this type of market research primarily to
monitor his competitors
If a firm in a purely competitive market can differentiate its product or service, it becomes part of a _______________ market.
monopolistic competition
In a market with _______________, there are many firms providing differentiated products.
monopolistic competition
About 30% of packaged goods have lost content recently. How have consumers reacted?
most of the changes have gone unnoticed by consumers
another name for a manufacturer's brand is a ________ brand
national
Many former Enron professionals who had nothing to do with the corporate scandal found that listing employment with Enron hurt their chances of being hired elsewhere. For these people, the Enron name has
negative brand equity
Developing pricing strategies for __________ is one of the most challenging tasks a manager can undertake.
new products
one of the key characteristic of brainstorming sessions is
no idea is immediately accepted or rejected
Even if they succeed, new-to-the-world products are
not adopted by everyone at the same time
Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from
observability
Bianca's discount home furnishings store is in a strip mall. She wants to know what other businesses in the strip mall her customers visit when they come to her store. To collect information for this objective, Bianca will most likely use
observation
Mattel wanted to determine whether a new toy would appeal to preschoolers, so it put six 4-year-olds in a room with several toys and waited to see which ones they played with. What form of research is this?
observation
The commercial airline industry is considered what type of market?
oligopolistic competition
Where on a product's packaging would one most likely find nutrient content and country of origin?
on the label
Qualtrics, Surveymonkey, and Zoomerang are examples of
online survey software
data collection begins
only after completing the research design process.
For new product marketers, early adopters are important because they tend to be
opinion leaders
With a pull marketing strategy,
orders for merchandise are generated at the store level based on sales data captured at POS terminals.
In the diffusion of innovation process, innovators enjoy taking risks and are regarded as highly knowledgeable. Marketers want to identify innovators because
other consumers defer to their judgment, creating the opportunity for word- of-mouth referrals
Price is the _____________ a consumer is willing to make to acquire a specific product or service.
overall sacrifice
A restaurant chain is working to improve the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, to track its progress. What kind of data is the restaurant chain collecting?
panel data
How is consumer panel data collected during the test marketing phase of a new product introduction?
pannelists scan their reciepts on a home scanning device
in a corporate vertical marketing system,
participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain.
Felicia had just taken over her family's business after spending ten years in the marketing department of a large corporation. She met with a representative from one of her firm's biggest customers, who told her, "We should think about how we can make the pie bigger rather than fighting over the size of the slices." She had expected a more cutthroat approach rather than this call for a
partnering relationship
Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed using data mining techniques to uncover
patterns of consumers' purchasing behavior
Firms that use the same brand name for new products can spend relatively less on marketing costs for the new product because
people already know what the brand means
Relatively few consumers like to go to the dentist. Dental insurance plans that pay for regular checkups increase the __________ of dental care by reducing the cost to the consumer.
perceived value
cross-price elasticity is the
percentage change in quantity demanded of product A compared to the percentage change in price of product B.
A(n) __________ is a document used by a forklift driver, indicating how much of each item to get from specific storage areas.
pick ticket
The Eiger Labs MPMan was the first mass-produced MP3 player sold in the United States. Eiger Labs was a(n) __________ in the MP3 player market
pioneer
One of the disadvantages of secondary research is ______, whereas one of the disadvantages of primary research is often ________.
potential bias; cost
If a telecommunications company drastically cuts the price for cellular phone service to eliminate local competitors, the company could be charged with
predatory pricing
The diffusion of innovation theory is useful to marketers in helping them
predict which types of customers will buy their product immediately and later
In one test before product launch, customers try a sample product and are then surveyed to understand whether they would buy/use the product again. This is known as
premarket testing
Lorraine belongs to a national consumer panel created by a market research company. She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products. The national consumer panel Lorraine is part of is engaged in
premarket testing
Sharon knew that her established customers liked her product much better than her competitor's. She was planning to expand into new markets, and she was considering pricing. She was leaning toward charging a higher price than competitors to help demonstrate that hers was a high-quality product. Sharon was considering
premium pricing
For which of the following is demand likely to be least sensitive to price increases?
prescription drugs
From charitable giving to medical records to Internet tracking, consumers are more anxious than ever about
preserving their right to privacy
There is an old saying, "If you have to ask the price of a yacht, you cannot afford it." Products like yachts are most likely to be associated with
prestige pricing
If a 1 percent decrease in price results in more than a 1 percent increase in quantity demand, demand is
price elastic (1.1/-1=-1.1) <-1=elastic demand
______ measures consumers' sensitivity to price changes
price elasticity of demand
__________ is the practice of colluding with other firms to control prices.
price fixing
Barry customizes Harley-Davidson motorcycles. No two cycles are alike. He notices that very few customers even ask the price of his motorcycles before they decide to purchase them. Demand for his motorcycles is probably
price inelastic
Because there are many firms with similar products in purely competitive markets,
price is determined by the laws of supply and demand
the contribution per unit is
price minus variable cost per unit
Because there are only a few firms in markets with oligopolistic competition,
price wars may occur
A toothpaste tube is an example of a ________ package.
primary
After reviewing the existing data on seasonal spending by his company's customers, Marvin decided he needed new information collected to address his research questions. Marvin will need __________ data to address the questions in his market research study
primary
When a research team has gathered data for specific research needs, this is known as
primary data
A __________ package is the one a consumer uses. A __________ package is used by retailers to display and sell the product.
primary;secondary
Suppose that Walgreens (a major drug store chain) wants to introduce its own brand of cough medicine that is similar in contents and packaging to a national brand, but at a lower cost. What kind of brand would Walgreens be introducing?
private-label brand
Between concept testing and market testing, a firm should engage in which stage of the product development process?
product development
If a new product concept gets positive evaluations from potential customers during concept testing, the next step for a firm is
product development
The __________ step in the product development process is critical, requiring tremendous resources and extensive coordination of all aspects of the marketing mix
product launch
A __________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products.
product line
Zappos is a successful online shoe company. One of the difficulties in running a shoe company is the need to have significant __________, a large number of items in each product line.
product line depth
_______ is the number of items within a product line
product line depth
A university that has separate graduate and undergraduate admission offices recognizes that these are distinct
product lines
For a major university, undergraduate studies, graduate studies, and professional programs would be __________ within the university's product mix
product lines
the complete set of all products offered by a firm is called its
product mix
Firms spend millions of dollars annually to build brand equity, recognizing that brand equity contributes to
profitability
at the breakeven point,
profits are zero
Before the development of computer-assisted design software, many firms handcrafted __________, wooden or clay models that served as rough physical representations of a new product.
prototypes
Marketers spend billions of dollars annually attempting to build effective brands. One basic benefit of a brand is that it
provides a way for a firm to differentiate its product offerings from competitors
Naomi knows she has to order her store's Christmas holiday merchandise in April to ensure delivery before the holiday season. Naomi is concerned with the supply chain management goal of
providing products at the right time
With a _______ marketing strategy, there is less likelihood of being overstocked or out of stock because the store orders merchandise as needed on the basis of consumer demand
pull
In _______________, many firms provide similar products that are considered substitutes for each other.
pure competition
Social media monitoring, in-depth interviews, and focus groups are all __________ research methods.
qualitative
When the market research problem is not clearly defined, a researcher will likely engage in __________ research.
qualitative
Recently, the number of students enrolled in the marketing program dropped while enrollment in the psychology program increased. The chair of the marketing department will probably use __________ as a first step to gain a better understanding of why enrollments are changing.
qualitative research
In the infamous Coke-New Coke taste test, 54 percent of consumers, using a blind taste test, preferred the New Coke formula to the existing formulation. This is an example of a(n) __________ market research method.
quantitative
Once a marketing researcher is ready to move beyond preliminary insights to specific, informed questions, the researcher is ready to conduct
quantitative research
Which of the following provides the information needed to confirm insights and help managers to pursue appropriate courses of action?
quantitative research
In retailing, a just-in-time delivery system is called a _____________ system.
quick response
The major objectives associated with a market penetration pricing strategy are to
quickly build sales and market share
historically, prices were
rarely changed except in response to radical shifts in market conditions.
Julia wants her firm's gourmet snacks to be the leading brand in the U.S. market. When adopting a pricing strategy designed to gain market share, she should remember that
rarely is the lowest-price offering the dominant brand in a market
Ella had been using an imported brand of shampoo for several years, but she could no longer find it anywhere. As she was considering what kind of shampoo to try, she was surprised to see ads for Procter & Gamble's Head & Shoulders being promoted as a glamorous health-oriented product. She had always thought of Head & Shoulders as an anti-dandruff shampoo. The new ads suggest that Head & Shoulders has been
rebranded
another name for brand repositioning is
rebranding
Because manufacturers with JIT systems produce merchandise closer to the time of sale, they can
reduce inventories needed to satisfy retailers' demand
Brad always buys and uses Nike brand golf balls. If he finds a Titleist or Callaway ball in the rough, he gives it away. Brand loyal golfers like Brad allow Nike to charge a higher price and not lose many sales. By building a strong brand, Nike has effectively
reduced the price elasticity of demand for its products
Marketers spend millions of dollars annually trying to create or reinforce brand loyalty. Brand loyalty changes the demand curve for the firm's products by
reducing the price elasticity of demand
Marketers advertising an artificially high regular price are unethically attempting to influence consumers'__________ perceptions
reference price
In determining the price for his company's new pocket digital camera, Matt determines what consumers consider the regular or original price for similar cameras available in the market. Matt is assessing the influence of __________ on pricing strategy.
reference prices
Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them. An example of such a mature product is
refrigerators
For marketers to advertise a price as their __________, the Better Business Bureau recommends that at least 50 percent of the sales of a product occur at that price.
regular price
Early personal computer users remember the cumbersome, user-unfriendly DOS system. When Apple introduced System 1 and Microsoft introduced Windows, both of which were much easier to use, these new products diffused rapidly because of their
relative advantage
Inkjet printers were a big improvement over the dot matrix printers they replaced. Inkjet printers gained rapid acceptance in the marketplace primarily because of their
relative advantage
Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura's brand loyalty means she is most likely
relatively insensitive to price
After defining objectives and research needs, the next step in the marketing research process involves
research design
In questionnaire design, a question such as, "When was the first time you went to a dentist?" suffers from the problem of a question that
respondents cannot easily or accurately answer
Brands that are owned by ___________ are called private-label brands.
retailers
in vendor-managed inventory systems,
retailers send sales information to the manufacturer.
a distribution center is typically operated by
retailers, manufacturers, or distribution specialists.
__________ involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor's patents.
reverse engineering
When Joe's Chicken Shack wants chicken delivered in smaller batches more frequently, it offers its distributors an incentive in the form of special bonuses to change their schedules. Joe's demonstrates which kind of power
reward
Gary is the marketing manager for an automobile dealership. His boss tells him the firm's primary goal is to increase its local market share from 15 to 30 percent. His firm is using a ________ orientation.
sales
Health clubs often use a low, introductory offer price to get people to join their club. These low prices represent a ______________ pricing strategy.
sales orientation
Many years ago Honda's Accord and Ford's Taurus were the top two selling cars in the United States. As the year was coming to an end, Ford cut the price of the Taurus, hoping to outsell the Accord and allow Ford to claim that "Taurus is the best-selling car in America." Ford was using a ___________________ pricing strategy.
sales orientation
When Dr. Putt invented his Eye-Over-the-Ball (EOB) golf putting device, he knew during the introductory stage
sales would be low and profits nonexistent, but he would attract golf equipment innovators
Bernard's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Bernard's job to examine the pricing to determine how to maximize market share, even at the expense of profits in the short run. What kind of company objective would guide Bernard's effort?
sales-oriented
Many restaurants offer daily specials, appetizers, entrees, and desserts not listed on their standard menu. These daily specials primarily provide the new product benefit of
satisfying the changing needs of current and new customers
One of the advantages of selling specialty goods and services is that when consumers want them, they will
search for them
A marketing research project often begins with a review of the relevant __________ data.
secondary
Both major political parties have developed proprietary databases that contain vast information about voters, broken down by demographic and geographic information. This kind of information is
secondary data
Company sales invoices, census data, and trade association statistics are examples of
secondary data
Which of the following statements best describes secondary data?
secondary data are pieces of information that have been collected prior to the start of the focal research project
Stores like Home Depot and Costco act as wholesalers when they
sell to contractors or restaurant owners
McDonald's recently introduced a Favorites Under 400 Calorie Menu as part of an attempt to reverse the perception that McDonald's sells only unhealthy food. Suppose that McDonald's, as a follow-up, collects and analyzes social media posts from Facebook, Twitter, and similar sites, hoping to understand whether consumer perceptions are improving. This would be an example of
sentiment mining
Marlie designs and manufactures specialty furniture. She has a number of unique products but can only produce in limited quantities. Marlie will probably NOT use a market penetration strategy because
she could not meet rapid rise in demand
When Meg planned her trip to Australia, she spent months evaluating packages, airfares, and hotel accommodations. Meg's trip is an example of a(n) ________ product
shopping
Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers' search process by offering a free, no questions asked return policy.
shopping
When testing new products, most firms consider the question of whether testing products on animals
should be done when the new product does not contribute to the health and well-being of human users
Charging a relatively high price for new and innovative products to those consumers most willing and able to pay the high price is called price
skimming
When Apple Computer company introduced the iPhone—a combination phone, MP3 player, and Internet access device—in 2007, it was priced at $499, considerably higher than either the iPod or competing cell phones. Apple was probably pursuing a __________ pricing strategy.
skimming
when Burroughs Wellcome introduced the first anti-AIDS drugs, it initially set the price at $10,000 for a year's supply. Burroughs Wellcome was probably pursuing a __________ pricing strategy.
skimming
A(n) __________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.
slotting allowance
In addition to using sentiment mining to determine customer attitudes about products, some companies also participate in ________ by joining in online conversations with customers
social engagement
Which of the following markets is MOST likely to be characterized by oligopolistic competition in the United States?
soft drinks
Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a __________ good while for Joanne it is a __________ good.
specialty; convenience
Brian is trying to sell a new line of ultrasound imaging equipment. Unlike existing technology, these machines are compact, creating the potential for general practice physicians to have and use them in their offices. Brian is trying to identify innovators in his market, knowing these customers will
spread positive word of mouth to other physicians
Ryan gave the manager of his convenience store a set of binoculars so she could see the gasoline prices charged by the other convenience store at that intersection. Ryan told the manager to always match the gasoline prices of the other store. Ryan is using a _____________________ pricing strategy.
status quo
Steven managed an auto parts store in the 1990s. At that time, stock-outs—failure to have the parts auto mechanics needed to do their work that day—increased the likelihood of the mechanics becoming customers of competing auto supply stores. To avoid this problem and keep his business customers, Steven most likely
stockpiled inventory, adding to the cost of providing auto parts
______ is another name for private-label brands
store brands
When conducting a research study attempting to understand what features were most important to automobile consumers, Gary's Research Company used a questionnaire containing __________ questions, with a predetermined set of response options
structured
TT Toys manufactures toys. The company recently started buying paint for its toys from a Chinese firm. This Chinese company is part of TT Toys'
supply chain
Which of the following is a systematic means of collecting information from people by using a questionnaire?
survey
Malcolm is the campaign manager for a congressional candidate. He wants to know how voters across his district feel about recent sexual harassment scandals involving politicians. Malcolm will most likely use __________ to gather this type of data
surveys
quantitative research offers a means to confirm ideas through
surveys or experiments (statistical testing)
It is almost impossible to watch a sporting event on television without seeing Nike's swoosh check mark, which is Nike's
symbol
If a marketing researcher has to collect data under severe time constraints, which of the following types of data sources would probably be available soonest?
syndicated data
Jalel is the marketing manager for a moderately well-known rock band. He wants to know more about industry trends, including sales by different musical styles, online downloads, and concert attendance. Jalel will most likely use __________ to gather this type of data
syndicated data
Commercial research firms like ACNielsen and SymphonyIRI Group are sources of
syndicated data: secondary research that can be purchased from firms that collect it
Naomi tells her sales representatives the goal is to generate at least a 20 percent return on investment for all of the industrial building supplies they sell. Naomi is using a _______________ pricing strategy.
target return
When McDonald's comes up with a new drink or sandwich for its restaurants, it often markets it in a dozen or so of its outlets. When the company does this, it is engaged in
test marketing
A marketing professor in Ithaca, New York, maintains a museum of failed consumer products. Most new products in this museum failed during the __________ stage of new product development, when they are introduced to a limited geographical area
test. marketing
In questionnaire design, a question such as, "Do you like Wendy's hamburgers and fries?" suffers from the problem of a question
that asks two questions at once
Unlike product, promotion, or place, price is the only part of the marketing mix
that generates revenue
Lionel Smith Ltd. is a traditional men's clothing store. Every fall the owner sends an embossed invitation (much like a wedding invitation) to his regular customers, inviting them to a private reception showing the new fall line of clothes. For Lionel Smith Ltd., one of the benefits of having established a loyal customer base is
that he can be less concerned about competitors' actions
In questionnaire design, a question such as, "Marketing is the best part of the business program, isn't it?" suffers from the problem of a question
that leads respondents to a particular response
In questionnaire design, a question such as, "Do anti-lock braking systems reduce car accidents?" suffers from the problem of a question
that respondents cannot easily or accurately answer
Benefit-cost analysis in market research weighs
the benefits of answering questions against the cost of the research.
A major limitation in the use of internal R&D departments for new idea generation is that
the costs tend to be quite high
brand extension is a popular marketing strategy because
the firm can spend less on creating brand awareness and associations
Rodi owns Hallman's auto repair service. He has observed over the years that customers keep their high-mileage cars longer when the economy is doing poorly, creating demand for his maintenance and repair service. Rodi has observed the impact of ______________ on demand for his service.
the income effect
Sales of national brands of orange juice tend to increase when the economy is doing well, while sales of generic orange juice increase when the economy is not doing well. This is an example of how ____________ affects demand for products.
the income effect
according to a typical demand curve, the higher the price,
the lower the quantity consumers will buy
Because there are many firms in monopolistic competition markets
the many competitors will focus on product differentiation
The more substitutes that exist in a market,
the more sensitive consumers will be to changes in the price of a particular product.
a reference price is
the price against which buyers compare the actual selling price
Salina is working to create greater brand awareness for her company's new line of personal digital assistants. To increase brand awareness, the LEAST important information that should be included in promotions is
the product history
The diffusion of innovation theory focuses on
the rate at which consumers are likely to adopt a new product or service.
Just as marketers create value by meeting the needs and wants of consumers, market researchers create value if
the results will be used in making management decisions
In marketing's four Ps, place refers to all activities required to get
the right products to the right customer when that customer wants it
Although conflict is likely to occur in any supply chain, it is generally more pronounced when
the supply chain members are independent entities
During the research design step of the marketing research process, researchers identify the type of data needed and
the type of research necessary to collect the data
what us neuromarketing?
the use of EEG scanners to measure consumers' brain waves
One problem in relying on price elasticity and demand curves when setting prices is that
the way a product or service is marketed can have a profound impact on price elasticity
In an administered vertical marketing system,
there is no common ownership, and the dominant member has significant power to impose its ideas and objectives.
Joe is reviewing secondary data his company collected about seasonal variation in consumer spending because he is thinking about developing a new product line. The advantages of using these data are that
they can be quickly accessed at a relatively low cost
manufacturers use wholesales and retailers because
they create value for customers through convenience and cost savings
Which of the following is a TRUE statement about distribution centers?
they enable retailers to carry less merchandise in individual stores
Blogs represent valuable sources of marketing research insights, but they are also a challenge for firms because
they include both positive and negative commentary
Gray markets can be a challenge to marketers because
they may tarnish the manufacturer's image
what is a disadvantage of online focus groups, compared to offline focus groups?
they usually do not permit insights based on body language
Getting merchandise floor-ready entails
ticketing and marking
Radio frequency identification tags are
tiny computer chips that transmit information about a container's contents.
Early personal computers cost several thousand dollars, allowing competitors
to introduce lower-priced alternatives
Which of the following is the best example of a family brand? A.Cadillac, GMC, and Chevrolet B.Tostitos Multigrain Scoops and Tostitos Chunky Salsa C.Kellogg's Special K and Famous Amos Chocolate Chip Cookies D.Lifesavers Soda, Coca Cola, and Diet Coke E.KFC/Taco Bell Fast Foods
tostitos multigrain scoops & tostitos chunky salsa
When a manufacturer launches a new product, it may offer __________ to wholesalers and retailers, including introductory price promotions, special events, and personal selling
trade promotions
What type of event exposes retailers to large numbers of new products in a concentrated location?
trade shows
Price is often the most challenging of the four Ps to manage, partly because it is often ______________ in developing marketing strategies.
treated as an afterthought
Samples are often used for new products when __________ will influence the diffusion of the product.
trialability
Zappos.com, an online shoe store, worked to overcome the problem of new product __________ with its easy, no-hassle return procedure.
trialability
(T/F) Donald is analyzing and interpreting data. In the process, he is converting data into information.
true
T/F A product is anything that is of value to a consumer and can be offered through a voluntary exchange.
true
T/F Even if products succeed, not all consumers adopt new-to-the-world products at the same time.
true
T/F Using wireless EEG scanners to measure involuntary brain waves that occur when a consumer views a product is called neuromarketing.
true
T/F: New-to-the-world products that create new markets can add tremendous value to firms.
true
t/: to determine whether a new product is commercially viable, a firm cannot conduct premarket testing
true
t/f Brands are assets that can be legally protected through trademarks.
true
t/f Brands enable customers to quickly differentiate one firm or product from another.
true
t/f Claire always liked Lands' End raincoats, so when she was shopping for a winter coat, she just ordered one from Lands' End without thinking too much about it. This demonstrates how brands facilitate purchases.
true
t/f Jenny traded in her old car for her heart's desire, a new Lexus sedan. The Lexus is considered a specialty product.
true
t/f Nike sells shoes, clothing, and athletic gear. These represent the breadth of Nike's products
true
t/f When Jaclyn selects a case of Sprite at the grocery store for her party, she is attracted by the holiday-themed box featuring green and white bells. What Jaclyn is seeing is referred to as the secondary package.
true
t/f: A gray market employs irregular but not necessarily illegal methods of distributing products.
true
t/f: A marketing channel and a supply chain are virtually the same
true
t/f: Because consumers are generally more sensitive to price increases than to price decreases, it is easier to lose current customers with a price increase than it is to gain new customers with a price decrease.
true
t/f: Fashion trends tend to experience short product life cycles.
true
t/f: Harold is a loyal Coca-Cola customer. Loyal customers like Harold require lower marketing expenditures, benefiting businesses like Coca-Cola.
true
t/f: If a firm is engaged in monopolistic competition, it should seek a way to differentiate itself
true
t/f: In U.S. markets, there are many substitute products for Fruit Loops cereal, suggesting the price elasticity of demand for Fruit Loops is high.
true
t/f: In the four Ps of marketing, place refers to all the activities required to get the right products to the right customer when that customer wants it
true
t/f: Marketing channel management creates value by getting products to customers efficiently.
true
t/f: Marketing channel relationships evolve when the parties have common goals.
true
t/f: Price is the only part of the marketing mix that does not generate costs.
true
t/f: Radio frequency identification tags (RFIDs) automatically transmit information about a container's contents or individual products.
true
t/f: Rarely is the lowest-price product offering the dominant brand in a given market
true
t/f: The Robinson-Patman Act does NOT apply to end consumers, at which point many forms of price discrimination occur.
true
t/f: The fact that the Apple iPad is easy to try—demo units are available at Apple stores as well as other retail stores—is helping it to diffuse more quickly.
true
t/f: The key to successful pricing is to match the product with the consumer's perception of value
true
t/f: When a retail store rarely sells deeply discounted or sale products, it is known as everyday low pricing.
true
t/f: When consumers see their friends using an innovation, it often persuades them to try it too.
true
t/f: When manufacturers such as Pampered Chef sell directly to consumers, they perform both production and retailing activities.
true
t/f: When the iPad Mini came out, Sasha spent the night in front of the store so she could get one before any of her friends. According to the diffusion of innovation, Sasha is an innovator.
true
t/f: When two competing retailers have a disagreement, it is an example of a horizontal channel conflict.
true
t/f: Wholesalers are often used in an indirect marketing channel
true
t/f: a disadvantage to using secondary data is that it might not be precisely relevant to the information needed
true
t/f: a major advantage of primary data collection is that it can be tailored to fit the pertinent research questions
true
t/f: a product will likely remain in the maturity stage of the product life cycle until a superior product comes along to replace it.
true
t/f: before conducting market research, the first questions to ask is, :what are we trying to learn?"
true
t/f: companies are legally required to disclose their privacy practices to customers on an annual basis
true
t/f: effective packaging and labels send the signal: "buy me"
true
t/f: fingerprints are an example of biometric data
true
t/f: in the marketing research process, data collection happens after research design
true
t/f: manufacturers, wholesalers & retailers can all own brands
true
t/f: new product line development adds value to a firm's products & services through innovation
true
t/f: odd prices suggest low quality
true
t/f: the majority of new products are failures
true
t/f: the most challenging part of applying the product life cycle concept is that managers do not know exactly what shape each product's life cycle will take
true
t/f: the vertical marketing system that exhibits the most formalization and control is the corporate vertical marketing system
true
t/f: when companies store information on customers' purchase histories in large computer files, this is known as data warehousing
true
t/f: when purchasing a mobile phone, the product you are buying is more than just the phone
true
t/f: Cheryl wants to quickly establish a dominant market share for her new line of ergonomic pens. To do this, she will likely use a market penetration pricing strategy.
true - start with low price to capture market
When consumers are __________, observation becomes particularly useful in understanding consumers' preferences
unable to articulate their experiences
When a salesperson calls you to sell a cemetery plot, this is most likely what type of product?
unsought product
Microsoft's Windows operating system continues to dominate the market, even though it has been around for over twenty years. Windows will likely remain in the maturity stage of the product life cycle
until a superior product comes along to replace it
a customer orientation toward pricing implicitly invokes the concept of
value
labor, materials & anergy are typically _______ costs
variable
The local auto supply store gets merchandise delivered to it by its manufacturers as soon as it has a need, reducing stockouts with minimal inventory. This demonstrates the concept of
vender-managed inventory
A(n) __________ is a supply chain whose members act like a unified system
vertical marketing system
at the end of a brainstorming session, participants are often asked to
vote on the best ideas
to discourage consumers from buying in gray markets, some manufacturers have
warned consumers that their warranty is null and void if purchased through a gray market supplier
When automobile manufacturers introduced SUVs, they distributed and promoted them in the United States, but not in Europe where gasoline is heavily taxed and roads are much smaller. Car manufacturers recognized that this new line of cars
were not compatible with European market conditions
Jason rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20. His fixed costs are $100,000 and his target profit is $20,000. For Jason, to earn his target profit, he will need to rent out ________ rooms
1500
If a cable television company had 100 million subscribers at the end of the year, and 2 million of its subscribers left its service, it would have a churn rate of
2%
If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is $20, the break-even point is
250 units
a typical focus group has _________ members
8-12
Which of the following is an unstructured question? A."What are the most important characteristics for choosing a brand of shampoo?" B."How satisfied were you with your last shampoo purchase: very unsatisfied, unsatisfied, neutral, satisfied, or very satisfied?" C."Were you happy with the quality of the shampoo you purchased (Yes/No)?" D."On a scale from 1 to 5 (with 1 being very unimportant and 5 being very important), how important is fragrance when choosing a shampoo?" E."How many brands of shampoo have you purchased in the past year: 0, 1, 2, 3, 4, 5, or more than 5?"
what are the most important characteristics for choosing a brand of shampoo
When conducting exploratory concept testing for her firm's new Internet anti-piracy software, Dee knows the most important question is
whether respondents would purchase the software if it becomes available
Kristina created a virtual prototype of her new line of swimwear on a website to show to consumers. Kristina will ask consumers what they think of the clothing, but the most important question is
whether they would purchase the swimwear if it becomes available
political consultants have been using market research for decades to help their candidates understand
who makes up the voting public and how to reach them
Dawn works for a firm that buys products directly from the manufacturer and sells them to retailers, who then sell the products to consumers. Dawn works for a
wholesaler
which of the following is an example of an unstructured question?
why did you buy this product?
The first question a marketing researcher should ask when considering a research study is
will the research be useful?
