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Worksheets2.00-3.00 SEM I Review Game
Total questions: 21
Worksheet time: 11mins
What are the Pros of Market segments?
Able to target message and target media
Reach a broader audience, consistent message, appeals to a lot of people, and highest gain for the lowest cost.
Quantitative Data is...?
are subjective—based on thoughts, feelings, opinions, and experiences.
are objective—based on statistics and facts, and usually represented numerically.
are secondary data that already exist in the organization’s own “in-house” information system.
are secondary data that already exist outside the organization.
Which one isn't a trend?
OTT(Over The Top)
AI(Artificial intelligence)
Virtual Reality
They are all trends
Qualitative Data is...?
are subjective—based on thoughts, feelings, opinions, and experiences.
are objective—based on statistics and facts, and usually represented numerically.
are secondary data that already exist in the organization’s own “in-house” information system.
are secondary data that already exist outside the organization.
Advantages of Secondary Data
Up to date, gives greater control, allows personal interaction, and becoming easier and more affordable
Less expensive, faster, and may be all that's available
You can find the Source of Secondary data from...
Current customers,
Former customers,
Prospective customers,
Employees (past and present),
Managers,
and etc.
Expense accounts,
Customer records,
Government statistics and databases,
Trade association reports and databases,
Business directories,
Writings of industry experts.
The general media,
The Internet and etc.
What is Enhanced Forecasting ability?
The ability to tell what next weeks weather will look like
The ability to understand the current trends and predict the future.
The ability to understand stocks
The ability to go into the future
External Data is...?
are subjective—based on thoughts, feelings, opinions, and experiences.
are objective—based on statistics and facts, and usually represented numerically.
are secondary data that already exist in the organization’s own “in-house” information system.
are secondary data that already exist outside the organization.
Why will a organization choose to outsource marketing research to a commercial firm?
The firm has specialized equipment, software, and facilities to help streamline the process.
The firm has access to a wide variety of data and industries.
Those are all reasons why an organization will choose to do so
The firm is expert and efficient
Internal Data is...?
are subjective—based on thoughts, feelings, opinions, and experiences.
are objective—based on statistics and facts, and usually represented numerically.
are secondary data that already exist in the organization’s own “in-house” information system.
are secondary data that already exist outside the organization.
What are the Cons to Mass Marketing?
Spending Money reaching outside the actual market and can't tailor messages to all different segments
Can miss part of the segment, requires extra time to tailor, and message to the market
Disadvantages of Secondary data
Not customized, might be out of date, and may be incomplete
Costly, time-consuming and can be difficult to find respondents
Video games are becoming increasingly popular.
TRUE
FALSE
Which two are apart of Secondary Data?
Qualitative Data/Quantitative Data
Internal Data/External Data
You can find the Source of Primary data from...
Current customers,
Former customers,
Prospective customers,
Employees (past and present),
Managers,
and etc.
Expense accounts,
Customer records,
Government statistics and databases,
Trade association reports and databases,
Business directories,
Writings of industry experts.
The general media,
The Internet and etc.
Advantages of Primary Data
Up to date, gives greater control, allows personal interaction, and becoming easier and more affordable
Less expensive, faster, and may be all that's available
What are the four types of Segments?
Demographic, Nanographic, Psychographic, and Behavioral
Isographic, Geographic, Psychographic, and Behavioral
Demographic, Geographic, Psychographic, and Behavioral
Demographic, Geographic, Photographic, and Behavioral
Disadvantages of Primary data
Not customized, might be out of date, and may be incomplete
Costly, time-consuming and can be difficult to find respondents
Potential disadvantages of working with a marketing-research firm
Only certain companies can use the commercial firms
The firm is really biased
The firm won’t be as familiar with the company or products as the company’s own marketers are.
The firm knows all about the company
What is a Target Market?
A small group of the target market that a business can select to market goods and services too.
The group of consumers that a company desires to have as customers
The group of potential customers who share common needs and wants.
A single marketing plan used to reach all customers
Which two are apart of Primary Data?
Qualitative Data/Quantitative Data
Internal Data/External Data
