Chapter 9 Flashcards
(122 cards)
Marketing research is of little help to managers who want to improve the quality of decision making
F
Marketing research helps managers gauge the perceived value of their goods and services, as well as the level of customer satisfaction
T
Marketing research deteriorates the quality of decision making.
F
Mobile research provides immediate feedback when a consumer makes a decision to purchase, consumes a product, or experiences some form of promotion.
T
Noncomputer sources are not valuable in gathering competitive intelligence (CI).
F
An automobile manufacturing company wanted to come up with a new model that targets female drivers with ages between 18 and 30. What type of data source should they use during the product development stage?
a. Competitive intelligence b. Marketing research c. Market intelligence d. Industry research
B
Which of the following is not a component of marketing research? a. Data analysis b. Develop marketing concept c. Collect primary data d. Conduct a survey
B
The purpose of ___________ is to try to gather and analyze a specific, well-defined set of data that meet the project’s need. a. observation research b. experimental research c. cause-effect research d. marketing research
D
What is competitive market intelligence?
a) A one-time data collection process
b) An ongoing process without specific data requirements
c) A process focused solely on customer needs
d) An occasional analysis of competitor pricing
B
Why is competitive market intelligence considered an ongoing process?
a) Because it only requires specific data
b) Because customer needs and wants change over time
c) Because competitors rarely change their offerings
d) Because it is only collected by third-party companies
B
What is one reason why competitive market intelligence is important?
a) To ignore changes in customer needs
b) To maintain stagnant market offerings
c) To understand how competitors are adapting to changing market demands
d) To solely rely on sales representatives for market insights
C
Who typically collects competitive market intelligence?
a) Only the marketing department
b) Only the product development team
c) Sales representatives or third-party companies
d) Only senior management
C
Which of the following is NOT a characteristic of competitive market intelligence?
a) An ongoing process
b) Specific data requirements
c) Collected by sales reps or third-party companies
d) Changes in market offerings
B
What is a Decision Support System (DSS)?
a) A static system for storing data
b) An interactive, computer-based system for decision-making
c) A system primarily used for marketing research
d) A system that only analyzes small datasets
B
What is the key differentiating factor of competitive market intelligence
a. It is an ongoing process without any specific data need requirements
b. It is essential a marketing plan
c. It involves short term research
d. It is not used within the operations sector of a business
e. It is used to analyze competitors within an industry
A
What is a Decision Support System (DSS)?
a. Software that shows data from competitors
b. Technology that manages company stock and inventory
c. An interactive, computer-based information system that can be used to make decisions
d. An element of marketing involving price adjustment
e. A network of computers owned by an entity used to do business
C
What is the primary aim of marketing research?
a) To increase production efficiency
b) To determine the viability of a new service or product
c) To lower operational costs
d) To streamline internal communication
B
Why is marketing research important for businesses?
a) To compete with competitors
b) To increase shareholder dividends
c) To discover the target market and gather consumer feedback
d) To reduce employee turnover
C
Which step in the marketing research process involves collecting opinions and feedback from consumers?
a) Analyzing secondary data
b) Addressing sampling procedures
c) Collecting primary data
d) Presenting the findings
C
What is the initial step in the marketing research process?
a) Collecting primary data
b) Analyzing the collected data
c) Identifying and formulating the research problem
d) Addressing sampling procedures
C
What role does secondary data play in marketing research?
a) It is used to address sampling procedures
b) It serves as the primary source of data collection
c) It is collected after primary data
d) It provides existing information to inform primary data collection
D
Which aspect of marketing research helps a company understand the needs of a specific project?
a) Collecting primary data
b) Presenting the findings systematically
c) Addressing sampling procedures
d) Identifying and formulating the research problem
D
What does the marketing research process aim to discover about potential customers?
a) Their income levels
b) Their hobbies and interests
c) Their opinions and feedback on products or services
d) Their educational background
C
What is the final step in the marketing research process?
a) Collecting primary data
b) Identifying and formulating the research problem
c) Presenting the findings systematically
d) Addressing sampling procedures
C