Marketing Final Exam Review

Front

What is one reason businesses conduct marketing research?

Back

To understand customer expectations

Front

What is a potential issue if a researcher's biases are evident to respondents?

Back

Respondents may give answers they think the researcher wants to hear.

Front

What type of data is associated with descriptive research?

Back

Quantitative data

Front

What is the purpose of predictive research in business?

Back

To estimate future sales and market growth

Front

What must researchers do to obtain data that specifically applies to the research project?

Back

Conduct primary research

Front

What are the modern popular methods to collect survey data?

Back

Online surveys and phone interviews

Front

What is the significance of implementing more than one marketing strategy at the same time?

Back

To target different customer preferences

Front

How can companies build long-term relationships with customers?

Back

By making it easy for satisfied customers to buy more

Front

What does S.W.O.T. stand for in the marketing strategy planning process?

Back

Strengths, Weaknesses, Opportunities, Threats

Front

What is the main goal during the ideation stage?

Back

Generating and refining business ideas