IM010 Posttest — Marketing Research

Which of the following is the most significant reason why marketing research is important to businesses:

• It improves financial management.

• It contributes to business success.

• It makes competitors take notice of the business.

• It helps the business to base decisions on opinions.

How could a business use marketing research data it has gathered about the average age, income, educational level, and spending patterns of area consumers?

• To create a mailing list for the business

• To identify problems within the business

• To develop a profile of the typical customer

• To establish an appropriate operating budget

A business owner marked down a line of products in order to sell them, but customers still didn’t buy them. Marketing research might have been used in this situation to protect the business from

• embarrassment.

• financial loss.

• competitors.

• loss of clientele.

Which of the following is a true statement about the steps in the marketing research process:

• The order of the steps in marketing research can be changed to suit the business.

• The amount of data being gathered affects the steps in the marketing research process.

• The business can leave out some of the steps in marketing research in certain situations.

• The steps in marketing research must follow a certain order; and none can be eliminated.

Which of the following is essential to all marketing research:

• Accuracy

• Frequency

• Primary data

• Secondary data

Why is it important for marketing research to be objective?

• So that researchers can guide consumers’ responses

• So that researchers can express their own opinions

• So that the data gathered are not influenced by researchers’ opinions

• So that the data gathered can be analyzed using statistical software

Is marketing research used just by large businesses?

• No, it is used mainly by individuals and small businesses.

• No, it is used by businesses and organizations of all sizes.

• Yes, individuals and small organizations do not use marketing research.

• Yes, large businesses are the exclusive users of marketing research.

A business with its own marketing research department is most likely to use outside marketing research when

• the business needs specific internal information.

• the business wants to prevent unnecessary financial losses.

• data must be analyzed by computer to be useful.

• the business needs more research than the department can handle.

Why do businesses use exploratory research?

• To predict future outcomes

• To define the reason for the research

• To try out different approaches to see what the results would be

• To obtain specific data related to the business’s situation

Descriptive research is a type of marketing research that is used by businesses when they need to

• make predictions of the business’s future sales.

• decide which direction to take in a given situation.

• try several theories to see what solution would work best.

• obtain specific data related to the business’s situation.