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WorksheetsBADM 201 Mid-Term Prep
Total questions: 79
Worksheet time: 40mins
Researchers should avoid conducting marketing projects when managers
are unwilling to take risks.
have preset ideas about results.
have too much money to spend.
are disorganized.
The success of any marketing research study depends most directly on
having enough money.
finding the best customers.
hiring the right researchers.
defining the problem correctly.
Which of the following is a benefit of having managers and researchers on the same page about the marketing research problem:
It eliminates the need to establish research objectives.
It keeps the business from wasting resources.
It ensures favorable results from the research study.
It improves the business's market share.
Erika, a manager, is wondering why sales are lower in a particular market segment. This is her
research objective.
situation analysis.
research problem.
decision problem.
Which of the following activities helps managers make smart decisions regarding the problems and opportunities facing their businesses:
Conducting marketing research
Advertising and sales promotion
Hiring new employees
Providing customer service
"What are some unfulfilled needs in our target market?" is an example of a(n)
discovery-oriented decision problem.
strategy-oriented decision problem.
unit of analysis.
relevant variable.
How research will be conducted depends on a business's
industry and resources.
products and employees.
size and resources.
size and industry.
"Which advertising campaign with be more effective?" is an example of a(n)
discover-oriented decision problem.
strategy-oriented decision problem.
unit of analysis.
relevant variable.
The problem from the researchers' perspective is known as the
research objective.
investigation objective.
research problem.
decision problem.
Managers should avoid marketing research projects that
might give unfavorable results.
take a long time to complete.
involve new products.
make little financial sense.
Which of the following is a way that researchers help managers clarify decision problems:
Conducting a situation analysis
Determining unit(s) of analysis
Deciding on relevant variables
Drafting research objectives
Each marketing research study is unique.
True
False
What do we already know about this problem or opportunity is a question that would be answered through a situation analysis.
True
False
A decision problem may be translated into several
situation analyses.
research problems.
sets of secondary data.
other decision problems.
Researchers are conducting focus groups as part of their current marketing research project. The results of these focus groups are examples of
relevant variables.
secondary data.
primary data.
units of analysis.
Researchers are studying a company's past sales invoices as part of their current marketing research project. The sales invoices are examples of
relevant variables.
secondary data.
primary data.
units of analysis.
Managers and researchers have decided to focus on customer-satifaction levels in their marketing research study. They have determined the
relevant variable.
unit of analysis.
situation analysis.
primary data.
Managers and researchers have decided to conduct their marketing research study by looking at individual customers rather than at households. They have determined the
unit of analysis.
relevant variable.
decision problem.
research problem.
Managers and researchers have formalized their decisions into a statement of what the marketing research study will achieve, known as a
relevant variable.
research objective.
decision problem.
research problem.
Before beginning a marketing research study, managers and researchers must agree that the benefits outweigh the costs.
True
False
Marketing links producers to
distributors.
retailers.
marketers.
customers.
Which of the following is a marketing activity?
Balancing customer needs with wants.
Leading a project team.
Communicating with customers.
Lowering operational expenses.
What provides the basis for all marketing goals and actions?
Pricing
Planning
Budgeting
Retailing
Which of the following influences the process of determining price?
Publicity
Purchase location
Sales promotion
Customers' perception of value
In an overall sense, where does marketing occur?
Wherever advertisements are
Wherever stores are
Wherever businesses are
Wherever customers are
In the marketing concept, whose point of view matters most?
Buyer's
Seller's
Marketer's
Planner's
According to the marketing concept, which option demonstrates customer orientation?
Convinsing a buyer to buy
Reaching a firm's competitors
Finding out what a buyer wants
Advertising the features of a product
According to the marketing concept, which option shows company commitment?
leaving marketing to the market
Teaching marketing to college marketing students
Setting aside funds to research what customers want
Pricing a product to maximize profitability per item
Overall, what does marketing allow us to do?
Stop buying online
Live our daily lives
Feel better about shopping
Limit our spending
Which of the following is the mot common reason for businesses to search for ways to make their products better and cheaper?
Competition
Publicity
E-commerce
Service marketing
Marketing is described as creating
exchanges.
needs.
advertisements.
gaps.
Conducting a SWOT analysis is the first step in which process?
Business organization
Fundraising
Risk management
Strategic planning
A good reputation among current clients is a(n)
strength
threat
weakness
opportunity
New competition moving into your area is a(n)
strength
threat
weakness
opportunity
A new customer moving into your area is a(n)
strength
threat
weakness
opportunity
A lack of quipment or technology is primarily a(n)
strength
threat
weakness
opportunity
Which of the following is a benefit of conducting SWOT analysis:
It completes the task of strategic planning.
it provides a filter for a great deal of information.
Weaknesses will diminish for you.
Your business wil make more money.
The most crucial part of the SWOT analysis method involves
what time of year you conduct it.
your goals for the analysis.
the number of strengths you identify.
where you get your information.
SWOT analysis is especially helpful when
your business is young.
your business is old.
you have an unlimited amount of time.
you have a limited amount of time.
What is the first step in the SWOT analysis process?
Investigating weaknesses
Conducting interviews
Filling in the SWOT matrix
Determining goals and objectives
When conducting SWOT analysis, consider strengths and weaknesses in relation to
your business's future.
your business's past.
opportunities.
the competition.
It's important not to confuse weaknesses with
opportunities.
resources.
mistakes.
strengths.
Which of the following questions is appropriate for determining threats:
What new needs of customers can we meet?
What niches have our competitors missed?
What are our assets?
What obstacles do we face?
SWOT analysis is subjective because it deals in large part with
fact.
customers.
competition.
opinions.
Liza has always wanted a horse, and she finally saved enough money to buy one very soon. In marketing terms, Lisa is a
market segment.
resource.
target group.
market.
To buy a product, customers in a market must first
be willing to buy the product.
learn the product's features.
make sure the product is on sale.
locate the product in a store.
A target marketin can be described as the
sample of the market.
group of customers the business seeks to attract.
direction the market is headed.
way a business draws its customers.
Marzetti's Musical Instruments has determined that it will focus its marketing efforts on senior high school students. marzetti's is engaged in ______ marketing.
mass
risky
target
industrial
When using mass marketing, marketers seek to appeal to the _____ market.
entire
local
loyal
teen
When sellers offer one-size-fits-all products that will appeal to the most buyers, they are using
mass production.
market segmentation.
mass marketing.
demographic segmentation
Market segmentation is about dividing the market into _____groups.
specific
identical
general
age
The Thompson Company decided it would be more successful if it divided the total market for its products into smaller, more specific groups of consumers. This business is engaged in
mass marketing.
industrial marketing.
market domination.
market segmentation.
Marketers divide their markets by grouping customers according to their
differences.
hobbies.
occupations.
similarities.
The community college has decided to market its evening classes to women age 18-30 who are high school graduates. What type of segmentation is the college using?
Geographic
Demographic
Behavioral
Psychographic
Jack is interested in predicting what special events result in higher demand for chocolate. She should conduct behavioral segmentation based on
occasion response.
rate of use.
benefits derived.
loyalty response.
Which of the following is a common reason for writing a marketing plan:
To replace a business plan
To hire a new company president
To enter a new target market
To announce a merger
Marketing plans help marketers understand past decisions and outcomes better so that they can avoid
repeating past mistakes.
writing new marketing plans.
explaining problems to management.
losing market share.
A marketing plan forces the marketing team to put its goals in writing, making those goals
less specific.
easier to remember.
better than those of competitors.
less risky.
Having a marketing plan helps the marketing team plan strategies with more precision.
True
False
Which of the following is an important benefit of marketing plans:
They develop exciting products.
They help recruit quality employees.
They ensure a yearly profit.
They can help obtain funding.
All marketing plan formats are the same for all businesses.
True
False
All marketing plan formats are the same for all businesses.
True
False
What is the purpose of the executive summary in a marketing plan?
To list marketing objectives
To describe the desired target market
To assess the company's current marketing situation
To serve as an introduction
Which of the following components serves as a snapshot of the business's current marketing situation:
Marketing strategies and programs
Situation analysis
Desired target market
Marketing objectives
Which of the following words describes an ideal marketing objective:
Broad
Comprehensive
Measurable
Open-ended
Which of the following is often included in a marketing plan's situation analysis:
Performance standards for implementing the plan.
A list of the proposed strategies and programs.
A list of the company's marketing objectives.
A SWOT analysis chart.
Where in a marketing plan would a business discuss how it plans to communicate with its customers?
Marketing objectives
Situation analysis
Executive summary
Marketing strategies and programs
Which of the following items might be included in a marketing plan's appendix:
A list of marketing objectives
A product photograph
The organization's mission statement
A SWOT analysis chart
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.
The steps in marketing research must follow a certain order, and none can be eliminated.
True
False
Which of the following is essential to all marketing research:
Accuracy
Frequency
Primary data
Secondary data
Marketing research is used by businesses and organizations of all sizes.
True
False
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.
The most important reason for creating a written plan for a marketing research project is to keep the project on track.
True
False
The advantage of using secondary data for a marketing research project is that it is usually more up-to-date than primary data.
True
False
An example of an internal source of marketing research data is
census figures.
unemployment statistics.
industry sales.
financial statements.
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.
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.
