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WorksheetsMarketing Information Management
Total questions: 65
Worksheet time: 42mins
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 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.
Why do businesses use exploratory research?
To predict future outcomes
To try out different approaches to see what the results would be
To obtain specific data related to the business’s situation
To define the reason for the research
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.
Predictive research is used by businesses when they need to
forecast future business developments.
define their reasons for research.
determine the impact that one thing has on another.
gather specific data related to an identified problem.
Which of the following is the most important reason for creating a written plan for a marketing-research project:
To keep the project on track
To implement the marketing concept
To keep the project from going over budget
To make it easy to analyze the data collected
An advantage of using secondary data in a marketing-research project is that they are
more relevant than primary data.
more up to date than primary data.
less likely to be available to competitors.
less expensive to collect than primary data.
An advantage of using primary data in a marketing-research project is that they are
easier to collect than secondary data.
quicker to collect than secondary data.
usually more up to date than secondary data.
less expensive to collect than secondary data.
Which of the following is most likely to affect the amount of data that will be collected in a marketing-research project:
When internal data is being used
When external data is being used
The method of data analysis to be used
The amount of objectivity desired by the business
An example of an internal source of marketing-research data is
census figures.
unemployment statistics.
industry sales.
financial statements.
Which of the following is the most popular data-collection method:
Experiment
Observation
Survey
Situation analysis
The observation method of collecting marketing-research data involves
watching what customers do.
test marketing new products.
conducting online surveys.
calling customers on the telephone.
Which of the following is an example of an experimental study:
Test marketing a product
Reviewing customer diaries
Conducting a focus group
Analyzing computer cookies
When all of the data in a marketing-research project have been collected and analyzed, the next step for the researcher is to
develop a testable hypothesis.
make recommendations based on the findings.
develop a research design for the project.
decide whether the project should be continued.
Which of the following is a requirement for good decision making:
A college degree
At least three options
Money
Data
Which of the following are common types of data used by marketers:
Facts, predictions, estimates
Predictions, estimates, quotes
Quotes, facts, testimonials
Quotes, testimonial, estimates
Quinn is getting ready to start college. Though she knows that the figure could change over time, she guesses that her four years in school will cost her around $65,000. This is an example of a(n)
quote.
sales report.
estimate.
fact.
Which of the following is an example of a fact:
The economy should get better during the next decade.
Valentine’s Day is on February 14.
It could cost up to 20 million dollars to launch a new product.
Junior year will be harder than sophomore year.
Which of the following is an example of a prediction:
About half of the business’s customers are female.
The business owes $200,000 in taxes.
Sales will be up four percent next quarter.
Sales were up four percent last quarter.
Which of the following is an example of data that marketers could gather from the company’s sales team:
The latest market-research studies
The prices of raw materials
What products competitors are currently offering
How actual sales compare to sales goals
Which of the following pieces of data give a wealth of information about a customer:
A trade journal
A sales invoice
An expense report
A sales report
A piece of easily observable data about a competitor is its
current promotional campaign.
products in development.
sales reports.
future plans.
Having appropriate data helps marketers to set goals that are
open-ended.
general.
difficult.
realistic.
Which of the following is a product strategy that marketers devise using available data:
Where to sell the product
What advertisements to run
How much to charge
What level of customer service to provide
Marketers use data to determine pricing strategies such as
how much to spend on advertising.
how much of the product to create.
when to offer a discount on the product.
what products to offer.
Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall
place strategy.
promotional strategy.
product strategy.
pricing strategy.
Which of the following is a place strategy that marketers devise using available data:
How much of the product to create
What level of customer service to provide
When to change the product’s price
What market segment to target
Marketers must use data to estimate costs for projects and allocate funds appropriately. This is known as
distributing
promoting
pricing
budgeting
Which of the following is a way that marketers can use data to follow up on any problems or issues with a product:
Determining what new products to offer
Deciding what wholesalers to use for distribution
Providing salespeople with additional training
Budgeting for product development
Data obtained from negative outcomes can help marketers to
avoid making the same mistakes in the future.
increase profits.
create SMART goals.
analyze sales reports effectively.
Which of the following is a true statement about the wise use of available data:
It increases market share.
It doubles a business’s profits.
It increases employee satisfaction.
It creates more satisfied customers.
Using data wisely can help a company save money by
spending more money.
running more efficiently.
hiring fewer employees.
eliminating the competition.
What does the M in SMART stand for?
Maximum - there are no limits for goals
Memorable - a goal must be easily remembered
Measurable - a goal must have some kind of number attached so you have a way to know if you are reaching the goal.
Mental - you have to be able to think about the goal.
What does the A in SMART stand for?
Attainable - a goal must be reachable; you CAN do it.
Admirable - a goal must impress people.
Artistic - a goal must be creative.
Academic - a goal must be scholarly and oriented towards learning.
Qualitative data are
hard to find.
unnecessary.
statistical.
descriptive.
Which of the following is an example of qualitative data:
“Andy broke the school record for home runs.”
“It was so hot at the baseball game!”
“It was 92 degrees at the baseball game.”
“The baseball game lasted three hours.”
Personal interviews are often used as a data-collection method when researchers
desire a variety of opinions in a short period of time.
don’t want to be noticed by respondents.
want to explore a certain subject.
need hard facts about a product.
Which of the following is a true statement regarding personal interviews:
They tend to be accurate and reliable.
They are superficial (surface level).
They are an inexpensive data-collection method.
It is easy to find respondents for personal interviews.
Which of the following is a true statement regarding focus groups:
They are an experimental method of data collection.
They usually include six to 12 respondents.
The participants always fill out questionnaires.
They are usually conducted online.
Focus groups are a useful data-collection tool because they
generate in-depth discussion.
are intimidating to respondents.
are inexpensive.
eliminate the need for quantitative data.
Which of the following is a disadvantage of the focus-group method for data collection:
Focus groups are difficult to design for marketing purposes.
It fails to reveal attitudes or motives.
It raises concerns about privacy.
Strong personalities can “take over” the group.
Which method of data collection allows researchers to gather information about customers in a natural setting?
Focus group
Experiment
Observation
Personal interview
The observation method of data collection can be difficult to conduct because
it isn’t practical for certain activities.
it must be conducted in secret.
the results are usually unreliable.
researchers must obtain respondents’ permission.
Qualitative data collection can be limited because it
is more difficult to conduct than quantitative data collection.
includes a very small portion of the target market.
includes only facts—no opinions or experiences.
is usually unreliable.
Quantitative data are
based on customer attitudes.
not useful for most marketing purposes.
non-statistical.
factual.
Which of the following is an example of quantitative data:
“Tara graduated first in her class.”
“Tara is one of the smartest kids in school.”
“I heard Tara is applying to Harvard!”
“Tara is a great tutor.”
Which data-collection method commonly uses questionnaires as a research instrument?
Focus groups
Experiments
Tracking
Surveys
One problem researchers may have with surveys is
having one respondent overshadow others’ opinions.
difficulty finding willing respondents.
concerns about privacy violations.
difficulty designing them for marketing purposes.
Which data-collection method usually takes place online?
Observation
Experiments
Personal interviews
Tracking
Which of the following is a tool used in the tracking method of data collection:
Customer loyalty cards
Experiments
Interviews
Questionnaires
Which method of data collection allows researchers to determine cause and effect?
Surveys
Tracking
Experiments
Observation
A purchase laboratory is a tool for which data-collection method?
Surveys
Experiments
Personal interviews
Focus groups
Which of the following is an advantage of using the Internet for data collection:
It’s easier to find willing respondents.
It’s free of any privacy concerns.
It allows researchers to get to know respondents one-on-one.
It generates in-depth discussions.
Marketers should use multiple methods of data collection because
qualitative data are not usable on their own.
quantitative data are not ideal for marketing purposes.
the government requires it.
it creates more reliable results.
