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Exam 1: Introduction to Marketing Research

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Question 51

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

A) Reports about the competition's products.
B) Reports about customers' wants and needs.
C) Evidence of the number and sizes of market segments.
D) Information.

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Question 52

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A marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper"mix"of product/service,price,promotion,and distribution system to meet the wants and needs of the consumers within the target market.

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Question 53

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The ________ is the marketing information system component that provides studies conducted for specific situations facing the company.

High gasoline prices and concerns about fossil emissions bothered consumers,so Toyota developed the Prius.This is an example of what use of marketing research?

Determiniing decision makers' information needs,acquiring the needed information,and distributing that information to the decision makers in a form,and at a time when they can use it for decision-making describes:

One of the most important philosophies managers have is that which determines how they view their company's role in terms of what it provides the market.The marketing concept is a much more effective philosophy than the sales orientation philosophy.Define the marketing concept and discuss its relationship to marketing research.

Consumers wanted increasingly large TV screens to hang on their walls,so Samsung developed an ultra-thin,LED,large-screen TV.This is an example of using market research to identify market opportunities and problems.

Which of the following components of the MIS contains information that is generally insufficient for many marketing decisions,but is a source of extreme detail on both revenues and costs that can be invaluable in making decisions?

Internal information from orders,billing,receivables,inventory levels,stockouts,and so on may be gathered by using a marketing intelligence system.

Several online information service companies,such as Lexis-Nexis,provide marketing intelligence.The use of Lexis-Nexis focuses on bringing in information generated outside the firm.This information would rest in the marketing intelligence system.

Marketing research can also be used to do which of the following?

Marketing research can also be used to generate,refine,and evaluate a potential marketing action.In this context,actions may be thought of as:

Marketing professors at colleges and universities and other not-for- profit organizations,such as the Marketing Science Institute,often conduct applied research and publish their results in journals such as the Journal of Marketing Research or the Journal of Marketing.

Marketing research provides managers with new information to help them make decisions.

Chobani launched a campaign,called"The Break You Make,"in 2015 to increase awareness of the Chobani Flip,an afternoon snack yogurt.Research determined that the campaign was very successful,with sales of Chobani Flip up 300% over the previous year.The main use of this type of research would be related to:

According to the American Marketing Association,which of the following is the primary use of marketing research?

Some people define market research as a subset of marketing research,using this term to refer to applying marketing research to a specific market area.

To successfully minimize product and service failures companies should:

For many years,the marketing concept has been recognized as the"right philosophy"because:

When firms make the right decisions,they produce products and services that their target markets perceive as having value.That value translates into sales,profits,and a negative ROI.