BUSI 330 quiz 3 complete solutions correct answers A+ work

Liberty University BUSI 330 quiz 3 complete solutions correct answers A+ work

More than 6 different versions

Question 1

Semantic differential and Likert are question types that uses a(n)

Question 2

A direct forecast involves estimating the value to be forecast and

Question 3

Primary data refer to

Question 4

A general rule of thumb among marketing researchers is to use __________ first and then collect __________.

Question 5

Before opening six Torrid plussizeonly retail stores that cater to women aged 1530, a great deal of information was gathered from a sample of women to determine what types of items should be carried, the image of the store, its advertising, etc. Which of the following is an example of a closedend question that might have been asked?

Question 6

Research and media firm Youth Culture publishes Watch magazine, a teen publication given out free to high school students. Unfortunately, the publication was unable to gauge whether or not it was meeting the needs of its audience. Youth Culture handed out surveys to learn how students felt about the publication. Feedback indicated teen boys and girls were demanding very different things from the publication. This feedback was gleaned from __________ data.

Question 7

A specialized observational approach, in which trained observers seek to discover subtle behavioral and emotional reactions as consumers encounter products in their natural use environment, is referred to as __________ research.

Question 8

The type of question you are answering right now is an example of a(n) __________ question.

Question 9

GI Design is a small studio that designs and builds items such as fountains and tabletops made from copper. To increase sales, Greg, the owner, developed a research plan to determine what landscape architects and interior designers wanted in copper furnishings and appropriate pricing. He had begun to interview representative designers. Greg was engaged in __________, the third step of the fivestep marketing research approach.

Question 10

Million Dollar Baby is an example of a successful movie that could have failed because

Question 11

The William Morris Agency represents country singer Trace Adkins in negotiations with various venues in which he could perform. Imagine that the agency decided the singer would not perform at venues located in small town communities that have less than 100,000 people. Thus, the agency is using __________ segmentation.

Question 12

In the athletic shoe market, Reebok and Nike practice __________ positioning since both manufacturers vie for the same customers with technologically advanced products.

Question 13

Marketing synergies often come at the expense of product synergies because

Question 14

Figure 86 above shows the marketproduct grid for a Wendy's restaurant next to a large urban university campus. Assume a large market (shown by a 3) is three times the size of a small market (shown by a 1) and a medium market (shown by a 2) is twice the size of a small market. The meal occasion (product grouping) that comprises the largest product grouping is

Question 15

The 80/20 rule suggests that

Question 16

In Figure 81 above, C represents which stage of the market segmentation process?

Question 17

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a __________.

Question 18

Product features and usage rate are both variables used to employ __________ segmentation.

Question 19

The market segmentation strategy known as frequency marketing focuses on

Question 20

The Walt Disney Company carefully markets two distinct WinniethePoohs; one is the original linedrawn figure on fine china sold at Nordstrom and the other is a cartoonlike Pooh on polyester bed sheets sold at Target. This is an example of

Question 21

The addition of Clorox II bleach to Tide laundry detergents is an example of a

Question 22

A 3M researcher worked with university students to develop the Postit→ Flag Highlighter. His team evaluated the technical feasibility of the proposed design and determined whether the idea met the firm's newproduct objectives. At which stage of the newproduct process was this product?

Question 23

With respect to price, which of the following type of consumer product would usually be very expensive?

Question 24

The stage of the newproduct process that develops a pool of concepts to serve as candidates for new products is referred to as __________.

Question 25

A product that is new in some way but requires no new behaviors to be learned by consumers is a

Question 26

The emergency room staff in Houston's largest hospital is pleasantly surprised when a fourday Fourth of July weekend brings in few accident victims for treatment. They know from experience that such public holidays usually have high rates of accidents. For the hospital's business office, the lower demand for the emergency room services means

Question 27

In marketing, an idea is

Question 28

With respect to distribution, shopping products are available

Question 29

Speed or __________ is often vital in introducing a new product.

Question 30

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is designed for people to give to each other on Valentine's Day. The unique identification number that the Vermont Teddy Bear Company uses to distinguish this Teddy bear from the others in order to track it in the warehouse is called a(n)

Question 1

Figure 7‑1

According to Figure 7‑1 above, specifying constraints occurs during which step of the five‑step marketing research approach?

Question 2

DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to predict how successful its sales efforts will be. The marketing research firm hired to conduct the research study has six months to gather, analyze, and present its data to DirectProtect. The required time frame is an example of a(n)

Question 3

Fisher‑Price watches young children play with its toys to determine if and how various products should be changed or improved. Fisher Price is collecting __________ data.

Question 4

The type of question you are answering right now is an example of a(n) __________ question.

Question 5

Primary data refer to

Question 6

One test of whether marketing research should be done is if

Question 7

The Minnesota Twins, a professional baseball team, wanted to develop creative ways to boost sagging attendance at its ball games. The Twins hired a moderator who, after every home game during the month of July, led informal discussions with groups of 6 to 10 fans to find out what they did and did not like about the baseball team and their experience at the stadium. Discussions were videotaped for later review. These informal research sessions are called

Question 8

Secondary data are the

Question 9

What marketing metric determines whether a TV program like American Idol remains on the Fox broadcast TV network?

Question 10

Obtaining primary and secondary data would take place during which stage of the five‑step marketing research approach?

Question 11

All of the following are market segmentation strategies EXCEPT:

Question 12

Product differentiation refers to

Question 13

Tony Hsieh, CEO of Zappos, offers one month's salary to anyone who

Question 14

The company name Zappos was chosen because it

Question 15

Kellogg's has several cereals targeted at different types of users. This is an example of multiple products aimed at multiple markets. Manufacturing these different cereals is clearly more expensive than producing one, but seems worthwhile if it serves customers' needs better, doesn't reduce quality or increase price, and

Question 16

A marketing strategy that involves a firm using different marketing mix actions to help consumers perceive the product as being different and better than competing products is referred to as __________.

Question 17

Variables such as location, the North American Industry Classification System (NAICS) code, and number of employees are all examples of ways to

Question 18

Variables that are based on some objective physical (gender, ethnicity), measurable (age, income), or other classification attribute (occupation) of prospective customers are used in which segmentation base?

Question 19

During its market segmentation process for the Nike LeBron X basketball shoe, which sells for $200+ a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of

Question 20

Todd Harris and Associates, a New York sales promotion agency, discovered from an analysis of its files that one‑quarter (or 25 percent) of its clients generated more than three‑quarters (or 75 percent) of its fees and commissions. This is an example of what classic concept?

Question 21

LG Electronics Inc. has entered into an agreement with Google to offer selected smartphone models that use a multitouch interface rather than buttons to make calls with Google's Android operating system. When the multitouch interface was first introduced, it was an example of which type of innovation?

Question 22

Which of the products listed below would be the best candidate for full‑scale market testing?

Question 23

UMD9: Marketing Dashboard Map

In the UMD9: Marketing Dashboard Map above, the annual growth rate in each state is shown, with green (which looks gray on printed paper) meaning good and red (which looks black on printed paper) meaning very bad. If an organization's 2013 sales for the entire U.S. were $50 million and its 2012 U.S. sales were $30 million, what is the annual % sales change?

Question 24

Figure 9‑1

As shown in Figure 9‑1 above, which of the following statements is most accurate?

Question 25

In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?

Question 26

Consumer products refer to

Question 27

The type of business products known as support products includes installations, supplies, accessory equipment, and __________.

Question 28

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyer's new product was in the __________ stage of the new‑product process.

Question 29

Ideally, before a new product or service is developed, a firm should have a precise protocol, which is a statement that identifies: (1) __________; (2) specific customers' needs, wants, and preferences; and (3) what the product or service will be and do to satisfy consumers.

Question 30

The emphasis of a marketing strategy for a dynamically continuous innovation would include

Field of Dreams and Million Dollar Baby are examples of successful movies that could have failed because

a.   too little money was spent on promotion.

b.   they were targeting the wrong target market segments.

c.   there was too little similarity between the original book and the screenplay.

d.   their original titles did not convey the correct message to their prospective audiences.

e.   too much time lapsed between their promotions and their releases.

Filmmakers want movie titles that use the same factors that make a good brand name.  Ideally, they should __________.

a.   have no legal restrictions

b.   create a sense of mystery

c.   use devices such as alliteration or  rhyme

d.   create a sense of familiarity

e.   be creative

Filmmakers want movie titles that use the same factors that make a good brand name.  They must be __________.

a.   creative

b.   familiar

c.   concise

d.   alliterative

e.   easy to remember

Filmmakers want movie titles that use the same factors that make a good brand name.  They must __________.

a.   be creative

b.   seem familiar

c.   use alliterative techniques

d.   be easy to remember

e.   capture the essence of the film

Movie studios use market research to reduce their risk of losses by hiring firms like the National Research Group to conduct test screenings and tracking studies.  Often, 300 to 400 prospective moviegoers are recruited to attend a “sneak preview” of a film before its release.  After viewing the movie, the audience fills out an exhaustive survey to

a.   evaluate the quality of directing and producing.

b.   critique the title, plot, and characters.

c.   rate the performances of the individual actors and actresses.

d.   recall specific details of the plot and dialogue.

e.   compare the final film with the original script.

The primary purpose of a “sneak preview” of a film prior to its release is to

a.   rate the performances of the individual actors and actresses for possible Oscar nominations.

b.   rate the work of the director and producer for possible Oscar nominations.

c.   evaluate the effectiveness of product placements within the film.

d.   compare the final film to the original screenplay.

e.   identify necessary changes prior to final editing and release to increase the film’s likelihood of success.

Marketing researchers use tracking studies immediately before an upcoming film’s release to

a.   identify any factual errors or inconsistencies in the storyline.

b.   nominate specific actors or actresses for industry awards.

c.   forecast a movie’s opening weekend box office revenues.

d.   select the best geographical location for the movie’s premiere.

e.   make changes to the movie’s release based upon professional critics’ reviews.

After qualifying by having seen at least six movies in the last year, members of tracking studies are asked three key questions, one of which is __________.

a.   How much would you be willing to pay for a ticket?

b.   Will you be seeing the movie with someone else?  If so, with whom?

c.   In your own words, what is the premise of the movie?

d.   Will you see the film this weekend?

e.   If you like the movie, what is the probability that you will purchase it when it is released on a DVD?

Movie studios use tracking studies in which prospective moviegoers are asked questions about an upcoming film release to help them forecast sales.  This is an example of

a.   movie advertising.

b.   marketing research.

c.   tactical support.

d.   cross-movie research.

e.   movie audits.

Surveys, testing of marketing campaigns, sneak previews, and tracking studies are all examples of market research techniques.  Collectively, they are used in the movie industry to

a.   estimate a production company’s potential market share.

b.   identify prospective nominees for industry awards such as the Oscars.

c.   create an advance market for the movie’s DVD release regardless of whether it is successful in its theater release or not.

d.   identify possible story lines and/or plots for future movie ventures.

e.   reduce uncertainty and  improve marketing decisions.

Figure 8-A

According to Figure 8-A above, when conducting marketing research, why would you ask the question, “How old are you?” before the test screening of a movie?

a.   to identify people who fit the profile of the target audience for the movie

b.   to identify people who frequently attend movies

c.   to make sure the respondent meets recommended age requirements for being admitted to the movie (G, PG, R, etc.)

d.   to determine if the respondent is old enough to relate to the characters

e.   to determine if the respondent is mature enough to provide valuable input when critiquing the elements of the movie

When conducting marketing research, why would you ask the questions, “Did you like the ending?” and “If not, how would you change it?” after the test screening of a movie?

a.   to screen out people who simply want a free movie ticket

b.   to change or clarify the ending of the movie

c.   to determine the relationship between ticket prices and happy endings of movies

d.   to identify people who frequently attend movies

e.   to separate those aware of the movie ending from those who are not aware

The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions is referred to as __________.

a.   marketing enquiry

b.   strategic intelligence

c.   data mining

d.   marketing tactics

e.   marketing research

Marketing research refers to

a.   the process of systematically collecting and analyzing information in order to define a marketing problem.

b.   the use of information technology to find objective solutions to a marketing problem.

c.   the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.

d.   the use of subjective data such as interviews and observation to complement empirical data obtained through the use of information technology.

e.   the science of using observable human behavior in order to identify and solve marketing problems.

Which of the following statements concerning marketing research is most accurate?

a.   The primary purpose of marketing research is to collect data, not to take actions on it.

b.   When collecting marketing research, people may or may not be willing to tell you what you want to know if it is potentially embarrassing.

c.   Marketing research, if done properly, will always result in a positive marketing result.

d.   People are just as able to give accurate information about products they have only heard about as those they have actually used.

e.   Among those people who participate in market research studies, there is an almost perfect correlation between a respondent’s stated intentions and his/her actual buying behavior.

Grape-Nuts was one of the first cereals Post Cereal Company ever marketed.  It scores well in brand awareness studies, but recently its sales have been steadily declining.  Rather than assume the product was a “dog,” the Grape-Nuts marketing manager decided Post should first

a.   update the flavor of the cereal by making it slightly sweeter.

b.   increase the amounts spent on advertising and promotion.

c.   do marketing research to identify what needs were not being satisfied.

d.   hire additional salespeople who were younger and more assertive to contact grocery stores.

e.   realign Grape-Nuts as a “star” and increase production.

Members of the Book Promoters Association of Canada recently questioned what could be done to rejuvenate the Canadian book publishing industry.  Some members claimed the problem was Canadian bookstores had been replaced by Walmarts.  Others said the problem was with stodgy promotions.  Still others said the problem was caused by too little money being budgeted to fund marketing programs.  The best way to identify the problem would be to use __________.

a.   market analysis

b.   marketing management

c.   marketing audit

d.   marketing research

e.   data mining

A decision refers to

a.   a premeditated selection resulting in a personal action.

b.   a conscious choice among a set of alternatives that creates the least amount of risk.

c.   a conscious choice from among two or more alternatives.

d.   a subconscious selection of the alternative most consistent with one’s personal beliefs.

e.   an unconscious choice selected from a subset of positive alternatives.

In marketing, a conscious choice made from among two or more alternatives is referred to as

a.   a preference.

b.   a paradigm.

c.   a conclusion.

d.   a paradox.

e.   a decision.

Decision making is the act of

a.   consciously choosing from among alternatives.

b.   consciously choosing an action that doesn’t involve risk.

c.   a subjective selection from a subset of positive alternatives.

d.   subconsciously selecting the alternative that is most consistent with one’s personal beliefs.

e.   objectively selecting the most financially sound decision among two or more alternatives.

The first step of the marketing research approach is to __________.

a.   develop findings

b.   define the problem

c.   take marketing actions

d.   collect relevant information

e.   develop the research plan

The second step of the marketing research approach is to __________.

a.   develop findings

b.   define the problem

c.   take marketing actions

d.   develop the research plan

e.   collect relevant information

The third step of the marketing research approach is to __________.

a.   develop findings

b.   define the problem

c.   take marketing actions

d.   develop the research plan

e.   collect relevant information

The fourth step of the marketing research approach is to __________.

a.   develop findings

b.   define the problem

c.   take marketing actions

d.   develop the research plan

e.   collect relevant information

The fifth step of the marketing research approach is to __________.

a.   develop findings

b.   define the problem

c.   collect relevant information

d.   develop the research plan

e.   take marketing actions

Setting research objectives and identifying possible marketing actions would take place during which stage of the five-step marketing research approach?

a.   collect relevant information

b.   develop the research plan

c.   develop findings

d.   take marketing actions

e.   define the problem

Specifying constraints, identifying data needed for marketing actions, and determining how to collect data would take place during which stage of the five-step marketing research approach?

a.   collect relevant information

b.   develop the research plan

c.   develop findings

d.   take marketing actions

e.   define the problem

Obtaining primary and secondary data would take place during which stage of the five-step marketing research approach?

a.   collect relevant information

b.   develop the research plan

c.   develop findings

d.   take marketing actions

e.   define the problem

Analyzing data and presenting the results of this analysis would take place during which stage of the five-step marketing research approach?

a.   collect relevant information

b.   develop the research plan

c.   develop findings

d.   take marketing actions

e.   define the problem

Making recommendations, implementing those recommendations, and evaluating the results would take place during which stage of the five-step marketing research approach?

a.   collect relevant information

b.   develop the research plan

c.   develop findings

d.   take marketing actions

e.   define the problem

Figure 8-1

According to Figure 8-1 above, “specify constraints” occurs during which step of the five-step marketing research approach?

a.   “A”

b.   “B”

c.   “C”

d.   “D”

e.   “E”

According to Figure 8-1 above, “implement marketing actions” occurs during which step of the five-step marketing research approach?

a.   “A”

b.   “B”

c.   “C”

d.   “D”

e.   “E”

According to Figure 8-1 above, “analyze the data” occurs during which step of the five-step marketing research approach?

a.   “A”

b.   “B”

c.   “C”

d.   “D”

e.   “E”

According to Figure 8-1 above, “set research objectives” occurs during which step of the five-step marketing research approach?

a.   “A”

b.   “B”

c.   “C”

d.   “D”

e.   “E”

According to Figure 8-1 above, “obtain primary data” occurs during which step of the five-step marketing research approach?

a.   “A”

b.   “B”

c.   “C”

d.   “D”

e.   “E”

Obtaining primary and secondary data would take place during which stage of the five-step marketing research approach?

a.   define the problem

b.   develop the research plan

c.   collect relevant information

d.   develop findings

e.   take marketing actions

Watch was a teen publication given out free to high school students, but the publication was unable to deliver the response rates to coupons or sample offers that its advertisers expected.  After defining the problem, its publisher developed a research plan, gathered information from teen focus groups, analyzed the findings, and replaced Watch magazine with Fuel for boys and Verve for girls.  How would a marketer judge the publisher’s actions?

a.   Why fix something that is not broken?  The magazine was still attracting some advertisers.

b.   It made a big deal out of a small decline—a few copy changes would have been enough.

c.   The approach it took was too complicated and costly to provide an effective solution to the problem.

d.   It took a systematic approach to analyzing the problem and responded to its advertisers’ concerns.

e.   This publisher used an approach that works for corporations but will just waste time for a small publisher.

Several years ago, SwissAir made some unwise investments to pay for a planned expansion.  As a result, the company had to make some cost-cutting moves that alienated its customers.  Eventually, the company declared bankruptcy, regrouped, and found itself able to resume business.  Its board of directors recently announced that the company would resume flying if it could prove that the airline could regain at least 75 percent of its lost customers.  It decided to allocate $50,000 to determine the likelihood that its former customers would fly on the airline again and find methods requiring little or no money that could be used to increase that probability.  This description represents which stage in the marketing research approach?

a.   define the problem

b.   develop the research plan

c.   collect relevant information

d.   develop findings

e.   take marketing actions

Research objectives are __________.

a.   goals conjectures regarding outcomes

b.   general research guidelines

c.   solutions to be evaluated

d.   specific and measurable

e.   research dashboards

During the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.

a.   measures of success

b.   research constraints

c.   marketing research plans

d.   hypothetical scenarios

e.   research objectives

What is the marketing research term for the specific, measurable goals the decision-maker seeks to achieve in conducting the marketing research?

a.   research constraints

b.   research objectives

c.   research decisions

d.   measures of success

e.   marketing conjectures

In setting research objectives, marketers have to be clear on the purpose of research they are about to do that leads to marketing actions.  The three main types of marketing research include exploratory research, causal research, and __________ research.

a.   virtual

b.   descriptive

c.   financial

d.   interdisciplinary

e.   interactive

In setting research objectives, marketers have to be clear on the purpose of the research that leads to marketing actions.  The three main types of marketing research include descriptive research, causal research, and __________ research.

a.   virtual

b.   interactive

c.   financial

d.   interdisciplinary

e.   exploratory

In setting research objectives, marketers have to be clear on the purpose of the research that leads to marketing actions.  The three main types of marketing research include descriptive research, exploratory research, and __________ research.

a.   causal

b.   virtual

c.   interactive

d.   effect

e.   interdisciplinary

Research that provides ideas about a relatively vague problem is referred to as

a.   virtual research

b.   interactive research

c.   causal research

d.   descriptive research

e.   exploratory research

Research that involves trying to find the frequency that something occurs or the extent of a relationship between two factors is referred to as

a.   virtual research.

b.   interactive research.

c.   causal research.

d.   descriptive research.

e.   exploratory research.

A firm trying to obtain data on the number of households that buy a particular product would most likely use which type of marketing research?

a.   descriptive

b.   explanatory

c.   exploratory

d.   causal

e.   concrete

Research that involves trying to determine the extent to which the change in one factor changes another one is referred to as

a.   virtual research.

b.   interactive research.

c.   exploratory research.

d.   descriptive research.

e.   causal research.

A test market is an example of which type of marketing research?

a.   descriptive

b.   explanatory

c.   exploratory

d.   causal

e.   concrete

A test market in which a new breakfast cereal is offered at different prices to determine the different levels of sales is an example of which type of marketing research?

a.   descriptive

b.   explanatory

c.   exploratory

d.   causal

e.   concrete

Measures of success refer to

a.   the goals the decision maker seeks to achieve in solving a problem.

b.   criteria or standards used in evaluating proposed solutions to a problem.

c.   identification of acceptable alternatives for collecting data to solve a problem.

d.   objective data used to identify the most profitable solution to a marketing problem.

e.   subjective data used to identify the most profitable solution to a marketing problem.

Effective decision makers rely on criteria or standards used in evaluating proposed solutions to a problem, which are known as

a.   marketing dashboards.

b.   measures of success.

c.   descriptive research.

d.   constraints.

e.   problem definitions.

Criteria or standards used in evaluating proposed solutions to a problem are referred to as

a.   solution factors.

b.   constraints.

c.   determinant factors.

d.   measures of success.

e.   resolution parameters.

Effective decision makers develop specific __________, which are criteria or standards used in evaluating proposed solutions to the problem.

a.   standards of accuracy

b.   measures of success

c.   measures of variability

d.   limits of consideration

e.   limits of probability

One test of whether marketing research should be done is

a.   if different outcomes will lead to different marketing actions.

b.   if different outcomes will lead to the same marketing actions.

c.   using a jury of executive opinion to interpret the data.

d.   agreeing to take action only if the decision is unanimous.

e.   if the action is agreed on, regardless of the outcome of the research.

Based on the Fisher-Price Chatter Telephone example in the textbook, if a measure of success is “playtime” for a particular telephone design, what would be an example of a possible marketing action if the results of observation were  “Children spent more time playing with new design?”

a.   continue with the old design; don’t introduce the new design

b.   introduce the new design; drop the old design

c.   introduce the new design; but add some new features

d.   mine the data further for children reactions; take no action

e.   add digital dashboards to analyze reactions to the new design; add some new features

Which of the following statements represents a possible measure of success in Step 1—define the problem of the five-step marketing research approach?

a.   You have three weeks and $10,000 to determine if it is going to be profitable to serve breakfast on weekdays or not.

b.   If three year olds like this product, then it stands to reason that four-year olds will like it even more.

c.   Use mail questionnaires, not focus groups.

d.   Let’s identify the most cost effective method of advertising.

e.   If observations show that children like Toy A more than Toy B in terms of hours spent playing with it, then we will move ahead with making Toy A.

When Home Depot entered the Quebec market, two percent of the population were aware of the retail chain.  To determine how effective its advertising was in the first 18 months of its presence in Quebec, the firm conducted awareness research for a second time.  Prior to conducting the research, it was decided that if at least 50 percent of the population were aware of the Home Depot brand, it would continue its present advertising program.  This is an example of a(n)

a.   objective.

b.   constraint.

c.   assumption.

d.   measure of success.

e.   barrier to entry.

After defining the problem, the next step in the five-step marketing research approach is to

a.   develop the research plan.

b.   evaluate the results.

c.   examine the alternatives.

d.   enumerate the uncertainties.

e.   experiment.

Specifying constraints, identifying data needed for marketing actions, and determining how to collect data, would take place during which stage in the five-step marketing research approach?

a.   define the problem

b.   develop the research plan

c.   collect relevant information

d.   develop findings

e.   take marketing actions

The retail mall owner told the marketing researcher, “We have the option of staying open late twice a week or opening up an hour early every day.  We need to know which will be most profitable since we cannot do both.  The decision must be made in 11 weeks and we only have $10,000 budgeted for this research project.”  In which stage of the marketing research process would this statement have been made?

a.   define the problem

b.   develop the research plan

c.   collect relevant information

d.   develop findings and recommendations

e.   take marketing actions

In a decision, the restrictions placed on potential solutions to a problem are referred to as

a.   objectives.

b.   inhibitors.

c.   dependent variables.

d.   obstructions.

e.   constraints.

In a marketing decision, constraints refer to

a.   the external factors affecting the number of people who can work on a solution to a problem.

b.   the number of possible alternatives in a company’s solution set.

c.   the restrictions placed on potential solutions to a problem.

d.   the internal factors affecting whether to select one alternative over another.

e.   the internal factors that determine who in the organization ultimate selects the best solution to the problem.

The __________ in a decision are the restrictions placed on potential solutions to a problem.

a.   dependent variables

b.   obstructions

c.   objectives

d.   constraints

e.   inhibitors

What are the two most common constraints in marketing problem solving?

a.   limitations of personnel and office space

b.   limitations on the time and money available

c.   government regulations and rights to privacy

d.   limitations on access to upper and middle management

e.   limitations of the thinking and creativity of the firm’s advertising agency

DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims.  It wants to introduce its product into new markets, but before it does so, it wants to predict how successful its sales efforts will be.  The marketing research firm hired to conduct the research study has six months to gather, analyze, and present its data to DirectProtect.  The required time frame is an example of a(n)

a.   dependent variable.

b.   obstruction.

c.   objective.

d.   constraint.

e.   independent variable.

Penningtons Superstore specializes in plus-size fashions for women.  It recognized a potential marketing opportunity in plus-size junior clothes and was considering adding a line of teen plus-sizes to its 117 stores.  Before doing so, it contracted with a marketing research firm to make sure that the teen plus-size market was a viable one.  It told the research company it needed  the results of its study by September 15 so it could introduce the line the following March, if the market was viable.  The major constraint for the marketing research firm in this scenario would be __________.

a.   collecting secondary data

b.   finding primary research candidates to interview

c.   meeting the time deadline

d.   establishing measures of success

e.   locating age-appropriate styles in plus sizes

Two key elements in deciding how to collect marketing data are __________ and __________.

a.   concepts; notions

b.   concepts; methods

c.   notions; hypotheses

d.   perceptions; impressions

e.   methods; theories

In the world of marketing, __________ are ideas about products or services.

a.   theories

b.   notions

c.   perceptions

d.   impressions

e.   concepts

A picture or verbal description of a product or service a firm might offer for sale is referred to as a(n)

a.   constraint.

b.   proposition.

c.   new-product concept.

d.   alternative.

e.   protocol.

Prior to its production, Fisher-Price managers developed a(n) __________ for the Chatter Telephone that involved adding a noisemaker, wheels, and eyes to the basic telephone.

a.   virtual concept

b.   product substitute

c.   product hypothesis

d.   new-product concept

e.   new-feature matrix

The approaches that can be used to collect data to solve all or part of a marketing research problem are referred to as

a.   proposals.

b.   strategies.

c.   tactics.

d.   analyses.

e.   methods.

The Journal of Marketing Research and the Journal of Marketing provide

a.   up-to-date tables for the latest data on consumer sales, listed by industry.

b.   summaries of research methods and techniques valuable in addressing marketing problems.

c.   the latest data on marketing expenditures based on consumer demographics.

d.   postings of professional marketing opportunities at universities and colleges.

e.   an in-depth list of marketing positions and opportunities at major corporations.

Sampling and statistical inference are known as special __________, which are vital in marketing research to solve all or part of a problem.

a.   systems

b.   styles

c.   methods

d.   manners

e.   modes

In marketing, the term sampling refers to

a.   testing the effectiveness of a marketing alternative in a supervised setting.

b.   the collection of various secondary data through electronic or mechanical means.

c.   allowing a subject to experience first-hand a new or updated product or service.

d.   the process of selecting representative elements from a population and treating their answers as typical of all those in whom they are interested.

e.   testing members from all ages, both genders, and different levels of income and education to guarantee reliable information.

The process of selecting representative elements from a population is referred to as

a.   hypothesis generation.

b.   sampling.

c.   information gathering.

d.   statistical inference.

e.   probability extrapolation.

The method of __________ involves generalizing the results from the sample to much larger groups of distributors, customers, or prospects to help decide on marketing actions.

a.   nonprobability sampling

b.   probability sampling

c.   extrapolation

d.   statistical inference

e.   criteria sampling

Drawing conclusions about a population from a sample taken from that population is referred to as

a.   non