Question 1

functions of a researcher

Accepted Answer

gather, organize, analyze, and distribute info. provide inputs for decision making.

Question 2

The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions is called:

Accepted Answer

marketing research

Question 3

A church compiles data on immigration, population shifts, education, income, age, and ethnicity to determine where there is a need for a new church. These compiled data are an example of __________ and help the church understand who its customers are.

Accepted Answer

marketing research

Question 4

The first step in the marketing research process is to:

Accepted Answer

define the problem.

Question 5

A study wanted to know if sports-centered males are spending as much time on the computer digesting sports information as they are spending in front of their televisions. This is an example of a(n):

Accepted Answer

problem.

Question 6

Youth Culture is a research and media firm that developed a magazine called Watch for students aged 11-The idea for this publication began as:

Accepted Answer

a new-product concept.

Question 7

Personal interview surveys have a major advantage of enabling the interviewer to be _________, but are costly to conduct.

Accepted Answer

flexible

Question 8

Mail surveys are biased because

Accepted Answer

those most likely to respond have had especially positive or negative experiences with the product or brand.

Question 9

Telephone interviews allow flexibility, but

Accepted Answer

unhappy respondents may hang up on the interviewer.

Question 10

Internet, e-mail, and fax surveys are restricted to

Accepted Answer

respondents having the technologies but are expanding rapidly.

Question 11

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

Accepted Answer

secondary data, primary data

Question 12

The Census Bureau uses __________ data to describe the population.

Accepted Answer

primary

Question 13

Lauder's Index tracks sales of lipsticks. It has noted that during every economic downturn the sale of lipstick goes up, and during the past several years sales have been steadily increasing for all brands. Lauder's Index gathers __________ data.

Accepted Answer

internal secondary

Question 14

Before we begin this project we'll have to interview people to find out how many people nearby could use our service, what their average income is, and what their occupations are. We need to:

Accepted Answer

collect primary data.

Question 15

Interviewers could gather 6 to 10 housewives at a home in India that match the participants' socioeconomic backgrounds, and ask their opinions about products, how they use them, and special needs they might have. These women would be participating in a:

Accepted Answer

focus group.

Question 16

"Do you like pretzels and chips? ___ Yes ___ No," is a poorly worded question because:

Accepted Answer

it is actually two questions in one.

Question 17

Teenagers complete drawings used by researchers at Teenage Research Unlimited (TRU) to help discover what teenagers like, wear, listen to, read and watch. What type of method does TRU use to collect this data?

Accepted Answer

Fuzzy front end

Question 18

Which of the following is the BEST example of an unanswerable question that might be asked on a survey about consumer online privacy?

Accepted Answer

What was the first day you began using the Internet?

Question 19

A marketing researcher had people choose the sweeter juice from two containers, a red one and a yellow one. The respondents expressed a definite preference although the juice was exactly the same. This type of marketing research is called a(n):

Accepted Answer

experiment.

Question 20

Retail stores use a technique called_________ to find statistical links using large databases that suggest marketing opportunities.

Accepted Answer

data mining

Question 21

Hot Topic is a California-based retailer that opened six Torrid plus-size-only retail stores that cater to women aged 15-Hot Topic expects its six Torrid stores to achieve $56 million in revenues in 20This $56 million is a(n):

Accepted Answer

sales forecast.

Question 22

Which of the following forecasting techniques would be most accurate for estimating sales revenues from industrial users for the Port of Los Angeles/Long Beach for next year?

Accepted Answer

a survey of buyers' intentions forecast

Question 23

Which of the following sales forecasting techniques is the LEAST expensive?

Accepted Answer

direct forecast

Question 24

marketing research

Accepted Answer

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

Question 25

80/20 rule

Accepted Answer

suggests that 80% of a firm's sales are obtained from 20% of its customers.

Question 26

market-product grid

Accepted Answer

a framework to relate the market segments of potential buyers to products offered or potential marketing actions by the firm.

Question 27

perceptual map

Accepted Answer

a means of displaying or graphing in two dimensions the location of products in the minds of consumers in order to see how consumers perceive competing products and then take marketing actions.

Question 28

syngery

Accepted Answer

the increased customer value achieved through performing organizational functions more efficiently.

Question 29

Department stores often use Claritas to understand the lifestyles of consumers in nearby neighborhoods. What customer characteristic is being used in this type of segmentation?

Accepted Answer

psychographic

Question 30

The 80/20 rule is most closely related to which consumer segmentation variable?

Accepted Answer

usage

Question 31

Which of the following variables is NOT commonly used to segment organizational markets?

Accepted Answer

NAICS code

Question 32

North American Industry Classification System (NAICS)

Accepted Answer

provides common industry definitions for Canada, Mexico, and the US

Question 33

Five general criteria often used to pick target segments:

Accepted Answer

(1) market size, (2) expected growth, (3) competitive position, (4) cost of reaching the segment, (5) compatibility with the organization's objectives and resources.

Question 34

A product manager at Xerox responsible for its new network color printer might use any of what 4 segmentation variables?

Accepted Answer

location, NAICS code, number of employees, benefits sought

Question 35

A perceptual map most closely resembles a:

Accepted Answer

graph with horizontal and vertical axis's.

Question 36

Slow sales of soup led the Campbell Soup Company to promote recipes using soup as a main ingredient. This is an example of:

Accepted Answer

repositioning.  Campbell Soup tried to reposition its soup from a main dish to a main ingredient in recipes.

Question 37

idle production capacity

Accepted Answer

occurs when the service provider is available but there is no demand.

Question 38

new-product process

Accepted Answer

the stages a firm goes through to identify business opportunities and convert them to a salable good or service.

Question 39

durable good

Accepted Answer

lasts over an extended number of uses, such as appliances, automobiles, and stereo equipment.

Question 40

nondurable good

Accepted Answer

food products, fuel and other items consumed in one or a few uses

Question 41

dynamically continuous innovation

Accepted Answer

the product disrupts consumer's normal routine of scraping dishes, but does not require totally new learning.

Question 42

As computer technology rapidly changes, computer equipment is quickly becoming outdated and much less expensive. When a consumer decides to replace their four-year-old computer with a new model, they need much comparison shopping time. The new computer is

Accepted Answer

a shopping good.

Question 43

Marketing emphasis for a dynamically continuous innovation such as Cascade Complete should advertise

Accepted Answer

points of difference and benefits to consumers

Question 44

Assume a new automobile fuel is developed that performs much like gasoline except that it doubles a car's miles-per-gallon—however, the fuel costs two and one-half times as much as gasoline. Why do you think such a product might fail?

Accepted Answer

Consumers would be unlikely to pay more per mile and accept some perceived risk just to avoid half their gas fill-ups. The point of difference would not be important to most consumers.

Question 45

A __________ is the last checkpoint in the new product development process before significant capital is invested in creating a product prototype.

Accepted Answer

business analysis

Question 46

Marketing researchers could ask consumers what kind of juice boxes they would prefer. Those questioned are taking part in which stage of the new-product process?

Accepted Answer

concept testing

Question 47

Introducing new-products sequentially into geographic areas of the U.S. to allow production levels and marketing activities to build up gradually is called:

Accepted Answer

regional rollouts.

Question 48

stages of the product life cycle

Accepted Answer

introduction, growth, maturity, decline

Question 49

capacity management

Accepted Answer

integrating the service component of the marketing mix with efforts to influence consumer demand.

Question 50

Lack of profit in the introductory stage of the product life cycle is very often the result of:

Accepted Answer

large investment costs in product development.

Question 51

When Texas Instruments (TI) introduced its first pocket calculator in the early 1970s, it was a tremendous product innovation, and TI set the mail order price at a very high $4What is the name of the pricing strategy Texas Instruments used?

Accepted Answer

skimming

Question 52

An extended introduction stage of the product life cycle occurs for which type of product?

Accepted Answer

high learning

Question 53

Downsizing

Accepted Answer

reducing the content of packages without changing package size while maintaining or increasing the package price.

Question 54

Brand equity arises from a sequential building process. The first step in the process is to:

Accepted Answer

develop positive brand awareness.

Question 55

When sales for a product begin to drop, the manufacturer has two choices of appropriate strategies to deal with this situation. They are:

Accepted Answer

harvesting and deletion

Question 56

five criteria mentioned most often when selecting a good brand name:

Accepted Answer

(1) suggest the product benefits, which this name does not do, (2) should be memorable, distinctive, and positive, (3) should fit the company or product image, (4)should have no legal or regulatory restrictions, (5) the name should be simple.

Question 57

The Clorox Company manufactures and markets bleaches, bathroom cleaners, disinfecting wipes, and stain removers under the Clorox brand. This is an example of:

Accepted Answer

family branding

Question 58

The Clorox Company sells three different brands of charcoal under 3 names. Clorox uses a _________ strategy.

Accepted Answer

multibranding

Question 59

multibranding

Accepted Answer

manufacturer's branding strategy that gives each product a distinct name.

Question 60

multiproduct branding

Accepted Answer

manufacturer's branding strategy that uses one name for all products

Question 61

Ritz crackers also makes Ritz bits, and several other flavors of crackers, all under the Ritz name. This is an example of:

Accepted Answer

multiproduct branding

Question 62

In services, pricing plays two major roles. The two roles are to affect consumer perceptions and to:

Accepted Answer

be used in capacity management.

Question 63

demand curve

Accepted Answer

a graph relating the quantity sold and price, which shows the maximum number of units that will be sold at a given price.

Question 64

pricing objectives

Accepted Answer

specifying the role of price in an organization's marketing and strategic plans.

Question	Answer
functions of a researcher	gather, organize, analyze, and distribute info. provide inputs for decision making.
The process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions is called:	marketing research
A church compiles data on immigration, population shifts, education, income, age, and ethnicity to determine where there is a need for a new church. These compiled data are an example of __________ and help the church understand who its customers are.	marketing research
The first step in the marketing research process is to:	define the problem.
A study wanted to know if sports-centered males are spending as much time on the computer digesting sports information as they are spending in front of their televisions. This is an example of a(n):	problem.
Youth Culture is a research and media firm that developed a magazine called Watch for students aged 11-The idea for this publication began as:	a new-product concept.
Personal interview surveys have a major advantage of enabling the interviewer to be _________, but are costly to conduct.	flexible
Mail surveys are biased because	those most likely to respond have had especially positive or negative experiences with the product or brand.
Telephone interviews allow flexibility, but	unhappy respondents may hang up on the interviewer.
Internet, e-mail, and fax surveys are restricted to	respondents having the technologies but are expanding rapidly.
A general rule of thumb among marketing researchers is to use __________ first and then collect _________.	secondary data, primary data
The Census Bureau uses __________ data to describe the population.	primary
Lauder's Index tracks sales of lipsticks. It has noted that during every economic downturn the sale of lipstick goes up, and during the past several years sales have been steadily increasing for all brands. Lauder's Index gathers __________ data.	internal secondary
Before we begin this project we'll have to interview people to find out how many people nearby could use our service, what their average income is, and what their occupations are. We need to:	collect primary data.
Interviewers could gather 6 to 10 housewives at a home in India that match the participants' socioeconomic backgrounds, and ask their opinions about products, how they use them, and special needs they might have. These women would be participating in a:	focus group.
"Do you like pretzels and chips? ___ Yes ___ No," is a poorly worded question because:	it is actually two questions in one.
Teenagers complete drawings used by researchers at Teenage Research Unlimited (TRU) to help discover what teenagers like, wear, listen to, read and watch. What type of method does TRU use to collect this data?	Fuzzy front end
Which of the following is the BEST example of an unanswerable question that might be asked on a survey about consumer online privacy?	What was the first day you began using the Internet?
A marketing researcher had people choose the sweeter juice from two containers, a red one and a yellow one. The respondents expressed a definite preference although the juice was exactly the same. This type of marketing research is called a(n):	experiment.
Retail stores use a technique called_________ to find statistical links using large databases that suggest marketing opportunities.	data mining
Hot Topic is a California-based retailer that opened six Torrid plus-size-only retail stores that cater to women aged 15-Hot Topic expects its six Torrid stores to achieve $56 million in revenues in 20This $56 million is a(n):	sales forecast.
Which of the following forecasting techniques would be most accurate for estimating sales revenues from industrial users for the Port of Los Angeles/Long Beach for next year?	a survey of buyers' intentions forecast
Which of the following sales forecasting techniques is the LEAST expensive?	direct forecast
marketing research	the process of defining a problem and opportunity, systematically collecting and analyzing information, and recommending actions.
80/20 rule	suggests that 80% of a firm's sales are obtained from 20% of its customers.
market-product grid	a framework to relate the market segments of potential buyers to products offered or potential marketing actions by the firm.
perceptual map	a means of displaying or graphing in two dimensions the location of products in the minds of consumers in order to see how consumers perceive competing products and then take marketing actions.
syngery	the increased customer value achieved through performing organizational functions more efficiently.
Department stores often use Claritas to understand the lifestyles of consumers in nearby neighborhoods. What customer characteristic is being used in this type of segmentation?	psychographic
The 80/20 rule is most closely related to which consumer segmentation variable?	usage
Which of the following variables is NOT commonly used to segment organizational markets?	NAICS code
North American Industry Classification System (NAICS)	provides common industry definitions for Canada, Mexico, and the US
Five general criteria often used to pick target segments:	(1) market size, (2) expected growth, (3) competitive position, (4) cost of reaching the segment, (5) compatibility with the organization's objectives and resources.
A product manager at Xerox responsible for its new network color printer might use any of what 4 segmentation variables?	location, NAICS code, number of employees, benefits sought
A perceptual map most closely resembles a:	graph with horizontal and vertical axis's.
Slow sales of soup led the Campbell Soup Company to promote recipes using soup as a main ingredient. This is an example of:	repositioning. Campbell Soup tried to reposition its soup from a main dish to a main ingredient in recipes.
idle production capacity	occurs when the service provider is available but there is no demand.
new-product process	the stages a firm goes through to identify business opportunities and convert them to a salable good or service.
durable good	lasts over an extended number of uses, such as appliances, automobiles, and stereo equipment.
nondurable good	food products, fuel and other items consumed in one or a few uses
dynamically continuous innovation	the product disrupts consumer's normal routine of scraping dishes, but does not require totally new learning.
As computer technology rapidly changes, computer equipment is quickly becoming outdated and much less expensive. When a consumer decides to replace their four-year-old computer with a new model, they need much comparison shopping time. The new computer is	a shopping good.
Marketing emphasis for a dynamically continuous innovation such as Cascade Complete should advertise	points of difference and benefits to consumers
Assume a new automobile fuel is developed that performs much like gasoline except that it doubles a car's miles-per-gallon—however, the fuel costs two and one-half times as much as gasoline. Why do you think such a product might fail?	Consumers would be unlikely to pay more per mile and accept some perceived risk just to avoid half their gas fill-ups. The point of difference would not be important to most consumers.
A __________ is the last checkpoint in the new product development process before significant capital is invested in creating a product prototype.	business analysis
Marketing researchers could ask consumers what kind of juice boxes they would prefer. Those questioned are taking part in which stage of the new-product process?	concept testing
Introducing new-products sequentially into geographic areas of the U.S. to allow production levels and marketing activities to build up gradually is called:	regional rollouts.
stages of the product life cycle	introduction, growth, maturity, decline
capacity management	integrating the service component of the marketing mix with efforts to influence consumer demand.
Lack of profit in the introductory stage of the product life cycle is very often the result of:	large investment costs in product development.
When Texas Instruments (TI) introduced its first pocket calculator in the early 1970s, it was a tremendous product innovation, and TI set the mail order price at a very high $4What is the name of the pricing strategy Texas Instruments used?	skimming
An extended introduction stage of the product life cycle occurs for which type of product?	high learning
Downsizing	reducing the content of packages without changing package size while maintaining or increasing the package price.
Brand equity arises from a sequential building process. The first step in the process is to:	develop positive brand awareness.
When sales for a product begin to drop, the manufacturer has two choices of appropriate strategies to deal with this situation. They are:	harvesting and deletion
five criteria mentioned most often when selecting a good brand name:	(1) suggest the product benefits, which this name does not do, (2) should be memorable, distinctive, and positive, (3) should fit the company or product image, (4)should have no legal or regulatory restrictions, (5) the name should be simple.
The Clorox Company manufactures and markets bleaches, bathroom cleaners, disinfecting wipes, and stain removers under the Clorox brand. This is an example of:	family branding
The Clorox Company sells three different brands of charcoal under 3 names. Clorox uses a _________ strategy.	multibranding
multibranding	manufacturer's branding strategy that gives each product a distinct name.
multiproduct branding	manufacturer's branding strategy that uses one name for all products
Ritz crackers also makes Ritz bits, and several other flavors of crackers, all under the Ritz name. This is an example of:	multiproduct branding
In services, pricing plays two major roles. The two roles are to affect consumer perceptions and to:	be used in capacity management.
demand curve	a graph relating the quantity sold and price, which shows the maximum number of units that will be sold at a given price.
pricing objectives	specifying the role of price in an organization's marketing and strategic plans.
Creative marketers engage in __________, the practice of simultaneously increasing product and service benefits and maintaining or decreasing price.	value-pricing
Recently, Pfizer offered low-income senior citizens many of its most widely used prescriptions for $15 a month. This low $15 price was selected in order for Pfizer to achieve what kind of pricing objective?	social responsibility
Profit objectives are frequently measured in terms of	return on investment.
Anderson has discovered that relatively small changes in the price of the system lead to relatively large changes in demand for his product. The demand for Anderson's product is:	price elastic
Which of the following would be the BEST example of a fixed cost for a university bookstore?	the salary of the bookstore manager (not effected by the quantity of the product)
odd-even pricing	setting prices a few dollars or cents under an even number, so that it is perceived as significantly lower
cost-oriented approaches	focus on the supply side of the pricing problem and involve considerations of production and marketing expenses.
customary pricing	prices are dictated by something that holds it about the same, like vending machines.
loss-leader pricing	a low price on one product, to attract customers in the hopes that they will buy other items in the store as well.
flexible-price policy	involves setting different prices for products and services depending on individual buyers and purchase situation in light of demand, cost, and competitive factors.
4 steps of marketing research	1) define the problem and research objectives 2) develope the research plan for collecting info 3) implementing the research plan-- collecting and analyzing the data 4) interpreting and reporting the findings
exploratory research	gather preliminary info that will help define the problem and suggest hypoth
descriptive research	describes things (e.g. market potential for a product, demographics, and attitudes).
causal research	tests hypotheses about cause-and-effect relationships.
descriptive and causal research brings what type of data?	quantitative
motivational research brings what type of data?	qualitative
motivational research was first used by	ernst dichter (1950s)
qualitative research is meant to reveal	hidden motives and underlying needs.
quantitative research is meant to reveal	who, what, when, and where
qualitative research is useful for what type of research?	exploratory research
observational data is generally for what type of research?	exploratory
two types of observational data	ethnographic and mechanical
ethnographic data	the scientific description of specific human cultures
survey data is generally for what type of research?	descriptive
experimental data is generally for what type of research?	causal
segment of the population selected to represent the population as a whole	sample
sampling requires what 3 decisions?	1) sampling unit (who) 2) sample size 3) sampling procedure (how to choose the people)
method error deals with	reliability and validity
sampling error deals with	biases
ethics are	subjective
5 behavioral bases for segmenting	1) benefits sought 2) user status 3) usage rate 4) loyalty 5) occasions
4 ways to segment	1) behavior 2) demographics 3) geographic 4) psychographic
3 aspects of psychographics	1) personality 2) lifestyle 3) social class
innovators	active consumers, cultivated taste for the upscale
thinkers	conservative, practicle consumers
believers	predictable consumers that choose familiar products and established brands.
survivors	loyal to favorite brands, especially if they can purchase them at a discount.
mass marketing	undifferentiated
segmented marketing	differentiated
niche marketing	concentrated
local or individual marketing	micromarketing
5 competitive advantages	differentiation of: 1) product 2) services 3) channel 4) image 5) people
value proposition	benefits vs price: more for more? (ritz-carleton) less for less? (motel 6) etc.
positioning statements summarize...	the company or brand positioning
product	market offerings, tangible goods, services, experiences
goods	search, experience, credence
services	intangible in nature
4 product attributes	features, quality, style, design
3 label functions	identification, description, promotion
positioning relies on	consumer's perception of your value, relative to competition.
Q: why do we need a new product?	A: NPD strategy
Q: possible concepts	A: idea generation
Q: can we build this?	A: screening/evaluation
Q: what is this going to do for us?	A: business analysis
Q: building a prototype	A: development
Q: how will customers respond?	A: market testing
Q: implement the marketing plan	A: commercialization
what does a style PLC look like?	up down up down curve
whawt does a fashion PLC look like?	one up and down curve
what does a fad PLC look like?	one straight up, straight down
adoption	process by which individuals decide to accept a product
diffusion	process by which product is accepted in a social network or community
2 ways to modify a product	1) feature changes to the actual product 2) repositioning the perception of a product
5 stages of the adoption process	1) awareness 2) interest 3) evalutation 4) trial 5) adoption or rejection
support services	break-fix support for products
education services	training for product use
managed services	product implementation
outsources	manage day-to-day operations
consulting and professional services	from implementation to integration, customized
branding a service	creates personality as positioning, signals a process, conveys reliability, supports reputation
axes of PLC	time is x, sales is y
price elasticity of demand =	% change in sales / % change in price. >1 is considered elastic.
supply-side pricing	1. find ACU: ACU = VC + (FC/Unit Sales). 2) add on a profit: a) standard markup: USP = UC / (1 - markup %) b) Target Return: USP = UC + Unit Profit
Mark-up price =	Unit cost / (1 - desired return)
a service line is a group of related services grouped by (3 things):	1) need 2) target market 3) channel
3 types of marketing research	1) predictive, 2) descriptive, 3) diagnostic research (primary & secondary data)
3 types of research approaches	1) exploratory 2) descriptive 3) causal
4 characteristics of services	1) intangible 2) inconsistent 3) inseparable 4) isn't perishable
service blueprinting is shown as a	flowchart
versioning	sell faulty product for less, not to save money but to encourage buying the better, more expensive product

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Marketing- Exam 3

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