Marketing Final Review

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Despite the data glut that marketing managers receive, they frequently complain that they lack ________. a. b. c. d. e. enough information of the right kind accurate and reliable information quality information valid information timely information

a. enough information of the right kind

_____ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. a. b. c. d. e. The marketing information system Marketing research Exploratory research Observational research Causal research

b. Marketing research

The real value of a companys marketing research and information system lies in the ________. a. b. c. d. e. amount of data it generates quality of customer insights it provides variety of contact methods it uses marketing information system it follows efficiency with which it completes studies

b. Quality of customer insights is provides

Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force, and the _____. a. b. c. d. e. owners stockholders marketing department custodians quality control department

c. Marketing department

A good MIS balances the information users would ________ against what they really ________ and what is ________. a. b. c. d. e. need; like; feasible like; can afford; needed like to have; need; feasible to offer need; can afford; useful use; have to use; available

c. like to have; need; feasible to offer

Secondary data consists of information ________.

a. b. c. d. e. that already exists somewhere and is outdated that does not currently exist in an organized form that already exists somewhere and was collected for another purpose used by competitors that the researcher can obtain through surveys and observation

c. that already exists somewhere and was collected for another purpose

Information collected from online databases on the Internet is an example of ________ data. a. b. c. d. e. primary secondary observational experimental ethnographic

b. secondary

Which form of data below can usually be obtained more quickly and at a lower cost than the others? a. b. c. d. e. primary survey research secondary syndicated online marketing research

c. secondary

Which form of marketing research is flexible, allows for explanation of difficult questions, and lends itself to showing products and advertisements? a. b. c. d. e. personal interviewing online interviewing phone interviewing ethnographic research observational research

a.

personal interviewing

Survey research is least likely to be conducted through which of the following? a. b. c. d. e. the Web the mail the telephone observation person-to-person interactions

d.

observation

Marketing stimuli consist of the four Ps. Which is NOT one of the four Ps? a. b. c. d. e. Product Politics Price Promotion Place

b. Politics

_____ is (are) the most basic cause of a persons wants and behavior.
a. b. c. d. e. Culture Brand personality Cognitive dissonance Social factors Selective perception

a. Culture

_____ the fastest growing U.S. demographic segment, now number more than 45 million. a. b. c. d. e. African American Hispanics Asian Americans Mature Americans Gay and Lesbians

b. Hispanics

Marketers are always trying to spot _____ in order to discover new products that might be wanted.
a. b. c. d. e. Lifestyles Cultural shifts Groups Dissonance Attitudes

b. Cultural Shifts

Most large companies research _____ buying decisions to find out what they buy, where they buy, how and how much they buy, when they buy and why they buy.
a. b. c. d. e. Market Permanent Consumer Social Group

DAILY DOUBLE

c. Consumer

Each culture contains smaller _____, or groups of people with shared value systems based on common life experiences and situations. a. b. c. d. e. Alternative evaluations Cognitive dissonances Subcultures Social classes Occupations

c. subcultures

Which of the following is NOT an important American subculture? a. b. c. d. e. Hispanics African Americans Mature consumers Opinion Leaders Asian Americans

d. Opinion Leaders

_____ are becoming a very attractive market: they are the ideal market for exotic travel, restaurants, high-tech home entertainment products, leisure goods and services, and designer furniture and fashions.
a. b. c. d. e. Hispanic Asian Americans Mature Americans African Americans Teenagers

c. Mature Americans

Although more price-conscious than other segments, _____ consumers tend to be strongly motivated by quality and selection. Brands are important. They enjoy shopping and are more fashion conscious than other ethnic groups. a. b. c. d. e. Hispanic African American Mature Asian Baby Boomer

b. African Americans

_____, the most affluent U.S. demographic subculture, now have more than $400 billion in annual spending power.
a. b. c. d. e. African American Hispanics Asian Americans Mature Consumers Gays and Lesbians

c. Asian Americans

Pendergraff Pet Supplies divides the market according to owners race, occupation, income and family life cycle. What type of segmentation does Pendergraff use?
a. b. c. d. e. Geographic Behavioral Lifestyle Demographic Psychographic

d. Demographic

Mass marketers, such as Target and Venture Stores, often ignore market segment differences and target the whole market with one offer. What is their approach to segmenting? a. b. c. d. e. Undifferentiated marketing Differentiated marketing Target marketing Concentrated marketing Micromarketing

a. Undifferentiated marketing

The 55 year-old Baby Boomers share common needs in music and performers. When a music company decides to serve this group, the group is called a(n) _____.

a. b. c. d. e.

Market segment Target market Well-defined market Differentiated market Undifferentiated market

a. Target market

Marketers of automobiles, financial services and travel are most likely to use which of the following types of segmentation? a. b. c. d. e. Gender Income Occasion Usage rate Benefits sought

DAILY DOUBLE

b. Income

When Newport Shipping uses segmented marketing, it targets several segments and designs separate offers for each one. This approach is called _____ marketing.
a. b. c. d. e. Undifferentiated Differentiated Multi-segmented Mass Concentrated

b. Differentiated