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WorksheetsSEM I Unit 3 Post test
Total questions: 35
Worksheet time: 18mins
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, testimonials, estimates
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.
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 prediction:
About half of the business’s customers are female.
The business owes $200,000 in taxes.
Sales will be up 4% next quarter.
Sales were up 4% 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.
The best source for data about the goods and services a company needs to buy for its own operation is its
vendors.
sales team.
customers.
competitors.
Which of the following is an example of a trade journal:
Newsweek
People
MOTOR Magazine
USA Today
Having appropriate data helps marketers 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
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.
Which of the following is an example of secondary data:
The information on a sales invoice
The results of a focus group
The outcome of an experiment
The answers to a survey
One reason that marketers conduct secondary research is to
clarify research questions.
create hypotheses.
make accurate predictions.
learn more about a specific industry.
Marketers look for internal data in
trade association reports.
informal interviews.
the organization’s information system.
government databases.
Which of the following is an example of internal data:
A field test
A cash register receipt
A competitor’s website
A media report
Which of the following is an example of external data:
A retail loyalty card
An article written by an industry expert
A sales report
A profit-and-loss statement
Which of the following is a true statement about external data:
They come from original research.
They are represented numerically.
They are the easiest data to access.
They can cost money to obtain.
Primary research collects data for
marketers across the industry to use.
understanding economic cycles.
the research project at hand.
informational purposes only.
Marketers often conduct primary research when secondary research
isn’t complete enough.
is too costly.
is too time-consuming.
isn’t broad enough.
Which of the following is a true statement about qualitative research:
It is often conducted through experiments.
It is conducted during a short timeframe.
It uses large samples of the population.
It is based on statistics and facts.
Which of the following is an example of quantitative data:
“The customer smiled when she heard the name of the new product.”
“Many local residents enjoy playing sports at the community center.”
“The salespeople think that customers want more payment options.”
“Sales of this particular model have fallen 13% in the last year."
Secondary research is cost-effective for marketers because the data
already exist.
are cheap to purchase.
are specific.
are incomplete.
A marketer is having difficulty finding data about a competitor because the competitor’s financial records have not been made public. Which disadvantage of secondary research does this situation illustrate?
It can be incomplete.
It can be out of date.
It can be costly.
It can be time-consuming.
Which of the following is an advantage of primary research:
It never expires.
It is specific.
It is inexpensive.
It is easy to conduct.
What is the main disadvantage of conducting primary research?
It is not customized to the research needs.
It takes control away from the marketers.
It is costly to carry out.
It can be difficult to find respondents.
Which of the following is a disadvantage of secondary research:
It is difficult to find secondary data.
It is time-consuming.
It is expensive.
It is not customized to the research needs.
