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Terms in this set (106)Marketing _____ involves the procedures that develop and analyze new information about a market. research The ultimate purpose of a marketing information system (MIS) is to help marketing managers make informed choices Rather than look at the sales and income generated from the last product introduction in the spring, Millie decided to introduce the new product because she had a good feeling it would do well in the market. Six months later, Millie couldn't believe how low the sales were for the product. What should Millie have used to make a better decision? Hard data True or false: An MIS makes it easier for marketing managers to find information. True Some automobile manufacturers install digital sensors to track fuel and engine activity on automobiles sold to the public. This is an example of _____ data. external Marketing managers can use which of the following in order to acquire information about a market? (Check all that apply.) Interviews Colin is a marketing manager at Page-by-Page Books, Inc. His company has implemented a system that continually gathers information about market trends and buying habits in the industry. Colin uses the information to make informed decisions about the company's marketing activities. What type of system does his company use? MIS With the advent of cloud storage and other online storage tools, Micah's company is now able to save all the data it collects from internal sources, external sources, and marketing research studies. The company wasn't able to store all of this with its former database management system. What phenomenon is Micah's company experiencing? Big data Without _____ data, marketing managers may make the same errors as their predecessors. hard Companies use a data ______ to store all of their databases so they are available when needed. warehouse The data from a ______ system can be used to guide the marketing strategy planning process. marketing information Sharon reminded the marketing team that trying to sell the sherpa-style coats in St. Louis hadn't worked before because that area of the country had short bursts of cold weather. Sharon recommended that the company only sell the coats in climates with at least three months of arctic temperatures. This demonstrates how available data has been transformed into _____. wisdom An MIS should collect __________ information from the marketplace and from competitors. external As the marketing manager at a very successful sports equipment company, Joe must make decisions about pricing and advertising. He often uses a computer program that provides suggestions about price levels and advertising media choices. This computer program is most likely a(n) decision support system (DSS) The owner of a web-based business might want to check to see how many customers are currently visiting her online store or placing orders. What tool allows her to see this activity on the computer in real time? A marketing dashboard "Big " __________ is the name given to data sets that are too large and complex to work with typical database management tools. data Marketing research that is based on the scientific method requires a company's ideas to be tested prior to implementation. A data warehouse can be described as _____. an electronic library The owner of a restaurant decides to prepare a dozen steaks for the Friday evening crowd based on the fact that he sold 12 steaks last Friday and most of the customers were regulars. This is an example of ______. a hypothesis When marketing managers are able to answer questions like "How did our competitor enter that market?" and "Why did our Twitter account blow-up after that tweet?," the company has changed data into _____. knowledge Why are haphazard or unorganized methods of performing marketing research considered ill-advised? (Check all that apply.) Because they misuse marketing managers' time A computer program that makes it easier for a marketing manager to get and use information and turn the information into knowledge to make informed marketing strategy decisions is called a(n) decision support system (DSS). The marketing research process is based on the _____. scientific method A customer service manager at a car rental company can check in every afternoon to see which car rental location is renting the most cars that day by using a marketing dashboard. True or false: To be used correctly, the marketing research process must be conducted in a linear fashion, without returning to any of the previous stages. False Marketing research is most successful when driven by _____ because it requires testing prior to making a final marketing decision. the scientific method Because market researchers must be sure that they are focusing on actual problems, cooperation with ______ is critical to good marketing research. marketing managers An educated guess about the relationship between things or about what will happen in the future is called a(n) _____. hypothesis Defining the problem ensures that the research is ______. correctly targeted True or false: The scientific method requires an organized method of research. True A pitfall for marketing managers engaged in Step 1 of the marketing research process is ______. thinking that a symptom is the problem List the five steps in the marketing research process in order, beginning with the first step at the top of the list. defining the problemanalyzing the situationgetting problem-specific datainterpreting the datasolving the problem Which of the following is a way in which marketing managers narrow down research objectives? Develop a list of questions that includes all possible problem areas. The marketing ____________ process is not necessarily linear. You might find a solution before all of the five steps are completed. research An informal study of what information is already available in the problem area is called a situation analysis. Good marketing research requires ______ to be sure that the research focuses on real problems. cooperation between researchers and marketing managers What is generally the most challenging step of the five-step approach to marketing research? Defining the problem Situation analysis is especially important so that both the marketing manager and the ____________ understand the problem area. researcher What is the best way for marketing managers to identify the correct problem and not its symptoms? By doing research ______ data is information specifically collected to solve a current problem. Primary Which of the following are benefits of reducing the number of research objectives at the start of the marketing research process? it saves time it saves money A company's MIS is a good source for _____ data. secondary In addition to informing the marketing manager of what information is existing and accessible regarding a problem area, a _____ also highlights additional information that must be acquired. situation analysis When a marketing manager finds an Internet source that appears useful, the manager should plan to verify that the source is reputable. ______ is an automated process of analyzing and categorizing social media to determine how many positive, negative, and neutral online comments a brand receives. A sentiment analysis True or false: A situation analysis allows both the marketing manager and researcher to agree upon and understand what the problem area is. True Jessica is a member of a group of consumers who do research for ACNielsen. Group members have ID cards and when they make a purchase, this card is scanned and purchase information goes directly to ACNielsen. These group members are part of a _____. consumer panel A common marketing research problem is collecting ______ unnecessarily when there is plenty of free or inexpensive information available on the topic that may be helpful. primary data Recent television commercials for Chevrolet show customers discussing J.D. Powers rankings and awards for the company. The information from J.D. Powers is an example of _____. syndicated research What are potential sources of secondary data? (Check all that apply.) Library A good situation analysis offers which of the following benefits to marketing managers? (Check all that apply.) It is comparatively quick. Secondary data found on the Internet is sometimes inaccurate. In the marketing research process, what specifies which information will be obtained and how it will be obtained? A research proposal Which of these companies is performing a sentiment analysis? Bob's Burgers reviewed the number of positive and negative tweets about its new sandwich. Questioning and observing are the two basic methods of obtaining ______. primary data A(n) _____ is a group of customers who provide information on a continuing basis. consumer panel Which of these questions could be used in qualitative research? Can you describe your recent 50-mile bike ride? What is syndicated data? Data collected by a firm and sold to marketing managers It would be typical for a focus group to use _____ questions. open-ended For a marketing manager, calling people who are knowledgeable in the designated problem area and performing Internet searches may constitute the research required to conduct a useful situation analysis. What type of research offers the benefits of face-to-face focus groups, while minimizing the limitations? Online focus groups What are three elements of a research proposal? (Check all that apply.) The type of data that will be acquired What are three disadvantages of focus group interviews? (Check all that apply.) People who participate may not be typical of the intended
market. What are the two basic methods for obtaining customer information? Observing A marketing researcher at a soda company conducted a survey to determine the number of respondents who have tried their new diet soda. He calculates a percentage for respondents who have tried the product and figures an average score for how satisfied they were. The researcher is conducting ______. quantitative research True or false: Qualitative research provides the advantage of depth in question responses. True Why is 'fixed response' the typical format of a survey questionnaire? It simplifies data analysis. Donna was invited to attend a meeting with six other people to review and discuss impressions of a firm's advertisements. After viewing them, the group answered open-ended questions. Donna was most likely part of a ______. focus group Which of the following research methods would be the most suitable for acquiring detailed private information, including past history, about people's purchase habits? Mail or online survey What are benefits of online focus groups? (Check all that apply.) Participants feel at liberty to express themselves fully True or false: A major drawback of using questionnaires to conduct quantitative research is the low response rate. True True or false: Findings attained from a focus group session can be affected by the researcher's perspective. True What are two limitations associated with surveys? (Check all that apply.) Difficult to get respondents to expand on answers Research that seeks structured responses that can be summarized in numbers, such as percentages, averages, or other statistics, is referred to as ______. quantitative research What are three benefits of conducting a telephone survey? (Check all that apply.) Fast turnaround Which one of the following is a characteristic of a fixed response questionnaire? They are easy to analyze. What are some benefits of distributing questionnaires via mail or e-mail? (Check all that apply.) Respondents can answer questions on their own time. What is a disadvantage of personal interview surveys? High cost What is the term for the percentage of people contacted who complete a questionnaire? Response rate Which of the following are likely reasons why respondents might not share their thoughts with an interviewer during a personal interview survey for market research? (Check all that apply.) They come from a culture where sharing private information with strangers is not common. Taking time to compile data and getting respondents to answer completely are two limitations of __________. surveys When using observation to collect data, it is important for the researcher to ______. avoid influencing the subject's behavior In the late 1990s, 36% of contacted households completed a phone survey. Today, about _____ of households participate. 9% Which of the following are benefits to conducting a personal interview survey? (Check all that apply.) The interviewer can explain complicated directions. What academic discipline is ethnographic research based on? Anthropology The interviewer asked Joe about his use of Viagra. Joe mumbled an answer, clearly embarrassed. This can be a problem with _________ ________. personal interview The experimental method in market research is also referred to as ______. A/B testing When using the observation method to collect data, the researcher tries to ______. view or document a subject's normal actions When the collecting primary of secondary data, research takes _________ and money. time A statistical _____ is an easy-to-use computer program that analyzes data. package In marketing research, a(n) _________ is the total group that marketing managers are interested in. population In marketing, research that investigates the actions of consumers in their natural habitat is called ______. ethnographic research What is the outcome for marketing managers who acquire data from a sample that is not representative of the population? The data might be inaccurate The Clothing Company sent e-mails with two different subject lines. Five hundred customers received one that said "20% Off and Free Shipping," while another 500 received one that said "Big Sale." The rest of the e-mail message was the same. Marketing managers then compared how many customers from each group clicked through to the Clothing Company from the email. To do their market research, the Clothing Company used ______. the experimental method True or false: Marketing managers in small companies can learn a lot simply by listening to what the customers have to say. True
A(n) ____ interval is the range on either side of an estimate that is likely to contain the true value for the whole population. confidence A(n) _________ package is an easy-to-use computer program that analyzes data. statistical _____ refers to the extent to which data measure what they are intended to measure. Validity Since it is rarely possible for marketing managers to acquire information about every member of a population, they instead acquire information from a representative ______. sample What is the final step of the research process? Solving the problem In marketing research, a part of the relevant population is called a ______. sample What is the role of the marketing manager after solving a marketing problem? To select a target market True or false: The smaller the sample size, the greater the accuracy of estimates from a random sample. False What issues can negatively impact the validity of market research? (Check all that apply.) Inaccurate responses from respondents In the problem-solving step, managers use the research results to ______. make marketing decisions
Applying the research findings to a marketing strategy plan is the ______ step in the marketing research process. 5th Sets found in the same folderChapter 3 MKG 30025 terms MusalA MARKETING CHAPTER 584 terms Francesca12100 Chapter 4 - MKG 30025 terms MusalA MARKETING CHAPTER 8135 terms Francesca12100 Other sets by this creatorPerspective Hospitality Industry Final179 terms Francesca12100 BCOM CHAPTER 1220 terms Francesca12100 FRANCHISING EXAM REVIEW18 terms Francesca12100 MARKETING CHAPTER 1894 terms Francesca12100 Verified questions
QUESTION Indicate whether the following instruments are examples of money market or capital market securities. a. U.S. Treasury bills. b. Long-term corporate bonds. c. Common stocks. d. Preferred stocks. e. Dealer commercial paper. Verified answer
QUESTION It is frequently stated that the one purpose of the preemptive right is to allow individuals to maintain their proportionate share of the ownership and control of a corporation. a. How important do you suppose control is for the average stockholder of a firm whose shares are traded on the New York Stock Exchange? b. Is the control issue likely to be of more importance to stockholders of publicly owned or closely held (private) firms? Explain. Verified answer
QUESTION Imagine that you are in charge of Customer Service for a large e-marketing firm such as Amazon.com. Investigate the process for returning defective merchandise by logging on to a large online store. List the steps a consumer must take in order to return merchandise and get a refund. What problems does returning defective merchandise present for customers who purchase products online? What are some ways you could make returning defective merchandise easy for online customers? Create a step-by-step guide for customers to use when they are returning defective merchandise. Be sure to consider factors such as shipping costs, packaging materials, insurance issues, and other issues that may arise. Share your guide with the class. Verified answer QUESTION Suppose the exchange rate between the U.S. dollar and the Swedish krona was 8 52 krona=$1, and the exchange rate between the dollar and the British pound was$£ 1=\$1.53$. What would be the exchange rate between Swedish kronas and pounds? Verified answer Recommended textbook solutions M: Marketing7th EditionDhruv Grewal, Michael Levy 143 solutions Advertising and Promotion: An Integrated Marketing Communications Perspective11th EditionGeorge Belch, Michael Belch 214 solutions
Consumer Behavior: Buying, Having, and Being12th EditionMichael R Solomon 485 solutions
Advertising and Promotion: An Integrated Marketing Communications Perspective12th EditionGeorge Belch, Michael Belch 211 solutions Other Quizlet setschapter 18 blood134 terms zhen8264PLUS Chapter 7: The Early Republic10 terms Emily_Arendt5 Genitalinfektionen10 terms miiriam_f What are the uses of information gathered through marketing research quizlet?What are the uses of information gathered through marketing research? (Check all that apply.) -It helps an organization identify and define market-driven opportunities and problems. -It helps an organization develop and evaluate marketing actions. Identify a true statement about marketing research.
What does market research gather information on?Market research is the process of gathering information about your target market and customers to verify the success of a new product, help your team iterate on an existing product, or understand brand perception to ensure your team is effectively communicating your company's value effectively.
Which of the following is a use of market research?The primary purpose of conducting market research is to understand or examine the market associated with a particular product or service, to decide how the audience will react to a product or service.
What does market research help determine quizlet?What will market research help to accomplish? It will help to define primary customers, identify growth opportunities, and learn about the competition.
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What are the uses of information gathered through marketing research Check all that apply quizlet?
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