Marketing Quiz Questions Chapter 6-10
What is the difference between data and information?
Data is the raw numbers and information is the interpreted data
What is the first step in the market Research Process
Defining the objectives and research needs
age, gender, income, and education are a part of which segmentation method?
Demographic
What are sets of criteria needed to assess a country's market?
Economic analysis, infrastructure and technological analysis, government actions or inactions, and sociocultural
Together, the following major trade agreements cover two-thirds of the world's international trade
European Union, NAFTA, CAFTA, ASEAN
what is the first step of the market research report?
Executive summary
Those with an Internal Locus of Control believe fate controls all outcomes
False
global STP is more complicated than domestic STP because
Foreign consumers view products and their roles differently
Which of the following is an advantage of Secondary Data?
Free or inexpensive (except for syndicated data)
________________ pertain to the performance of a product or service
Functional needs
The consumer Decision Process includes all of the following except:
Physical Factors
Which need deals with the basic necessities of life (such as food, drink, rest, and shelter)?
Physiological
The formula for the customer lifetime value includes all of the following elements EXCEPT:
Price per item sold
What happens in the second step of the marketing research process?
Researchers identify the type of data needed and determine the research necessary to collect them
What is syndicated data?
data available for a fee from commercial research firms
What uses a variety of statistical analysis tools to uncover previously known patterns in data or relationships among variables?
data mining
Which of the following is not a step in ensuring post purchase customer satisfaction?
demonstrates other products and services that the company offers
what is the first step of positioning?
determine consumers' perception and evaluations in relation to competitors'
Which of the following is not a criterion for evaluating segment attractiveness?
differentiated
which entry strategy has the most significant risk associated with it?
direct investment
Geodemographic segmentation uses a combinations of _______, ______, and _______________ characteristics to classify consumers
geographic, demographic, and lifestyles
the process by which goods, services, capital, people, information, and ideas flow across national borders are referred to as
globalization
Which is the most widely economic metric used?
gross domestic product
which of these is not apart of a country's infrastructure?
hospitals
People who have an ________ believe they have some control over the outcomes of their actions, in which case they generally engage in more search activities
internal locus of control
Which of the following is NOT an example of a demographic?
lifestyle
The four macro, or overarching strategies that focus on aspects of the marketing mix to create value, deliver value, and develop sustainable competitive advantages are customer, operational, product, and ________ excellence.
locational
which of these is not one of the positioning methods?
market
the level of economic development, as well as differences in product and technical standards, help determine the need for and level of _______
product adaptation
it is the global ________ which offers marketing managers specifically three potential global product or service options from selling the same product to introducing an entirely new product
product strategy
Which of the following is NOT a step in the Marketing Research Process?
receiving feedback
which is not one of for targeting strategies?
referral marketing
__________ occurs when customers rely on past experiences rather than external information when purchasing a product or service
remembrance buying
Which is not a segment attractiveness?
sales
Which of these is NOT a Positioning Method?
sales
Because the US imports more goods than it exports, it operates under a
trade deficit
The US in it's recent economic history has become a nation dependent on importing more goods than it is exporting, this economic state is called:
trade deficit
Perception is the process by which we select, organize, and interpret information to form a meaningful picture of the world
true
True or False: Secondary data include external as well as internal data sources
true
The method of Alternative evaluation involves?
The consumer engaging in the information search
Social Risk involves
The fear consumers suffer when they worry others might not regard their purchases positively
A post purchase?
The final step in the consumer decision process
According to Hofstede's dimensions concept, which of the following dimensions is NOT offered?
Time management
What is a sample?
a group of customers who represents the customers of interest in a research study
what would children under 15 be considered?
a segment
Which of the following is not considered a segmentation method?
biographic
how many main value proposition components are there?
4
Which three components does attitude consist of?
Cognitive, affective, behavioral
________ is the market value of the goods and services produced by a country in a year
Gross domestic product (GDP)
What is the second step in the Consumer Decision Process
Information search
Psychographic segmentation is also called
Psychographics
If a consumer doesn't know a product exists, or doesn't understand what the product does what aspect of segmentation is not being met?
Reachable whi
Which set of data is collected prior to the start of the research project?
Secondary data
Attitude consists of three components, what are those components?
cognitive, affective, behavioral
What is the third step in the Marketing Research Process?
collecting the data
which is not a positioning method?
competition
Which of the following is NOT a positioning method for developing a positioning strategy?
concentrated targeting
Which of the questions below is the first step in segmenting a market
establish overall strategy or objective
Which of the following is not an actual or perceived risk that comes with purchasing decisions?
esteem risk
If during the search process a consumer is evaluating whether it is worth the time or effort of researching the product or service; they are what?
evaluating perceived cost vs perceived risk
Which entry strategy has the least financial risk associated with it?
exporting
After a consumer determines they want the product or service, they began to go to others for information on this product or service, what is this called?
external search for information
true or false: Data results from organizing, analyzing, and interpreting information and putting it into a form that is useful to marketing decision makers
false
What qualitative research type involves a small group of people that come together for an intensive discussion about a certain topic?
focus groups
What types of qualitative research are used in data collection research?
observation and in depth interviews
Which of these is NOT classified as a source for an external search for information?
personal experiences and opinions
Maslow's hierarchy of needs includes all of the following except:
physical
If Mike runs 2 miles and then immediately goes to purchase a large bottle of water afterwards, what type of need is he satisfying?
physiological
_______, or safety risk, refers to the fear of actual harm should the product not perform as expected.
physiological risk
what methods are used in order to get quantitative research for data collection?
survey, panel, experiments, and scanner (all of the above)
Which is NOT a type of qualitative research?
surveys
Which of the following is not an example of Secondary Data
surveys
Market research consists of which set of techniques?
systematically collecting data, recording data, analyzing data, and interpreting data
a ____ is defined as a tax levied on a good imported into a country
tariff
which one of these is a key element of a country's government actions?
tariff, quota, and exchange control (all of the above)
an internal search involves?
the buyer
An example on an Esteem driven need is:
the need to satisfy inner desires
Mass marketing is:
when everyone might be considered a potential user of the product
Geographic segmentation organizes into groups based on
where they live
