Chapter 10 Flashcards
Which of the following is a key function of product packaging? a) To increase the weight of the product b) To complicate the supply chain process c) To communicate the brand and its benefits d) To increase the price of the product
c) To communicate the brand and its benefits
What does the RATER model primarily focus on? a) Tangible product features b) Key dimensions of services c) Pricing strategies d) Distribution channels
b) Key dimensions of services
Which type of consumer offering is typically highly differentiated and available through limited channels? a) Convenience offering b) Shopping offering c) Unsought offering d) Specialty offering
d) Specialty offering
What are the three C’s to consider when setting a price? a) Customer Factors, Competitor Factors, Cost Factors b) Convenience, Customer service, Cost c) Communication, Customer, Control d) Culture, Climate, Competitor
a) Customer Factors, Competitor Factors, Cost Factors
What is a “double-barrelled question” in questionnaire design? a) A question with two possible answers. b) A question that asks two things at once. c) A question that is intentionally misleading. d) A question that requires a yes or no answer.
b) A question that asks two things at once
Which of the following describes exploratory research design? a) Research that focuses on gathering numerical data. b) Research that examines cause-and-effect relationships. c) Research useful when initially investigating a problem not well-defined. d) Research that involves a large number of respondents and predetermined response options
c) Research useful when initially investigating a problem not well-defined.
What is back translation? a) Using a speaker’s tone to interpret a research instrument. b) Translating a survey into a foreign language and then back to the original to check for accuracy. c) A method of data analysis that uses only the original language responses. d) Asking the question again to ensure accuracy.
b) Translating a survey into a foreign language and then back to the original to check for accuracy.
What does the methodology section of a research report explain? a) The recommendations based on the findings b) An overview of the key findings c) The technical details of how the research was designed and conducted d) A summary of all details in the report in a very quick way
c) The technical details of how the research was designed and conducted
Which of the following is a type of nonprobability sample? a) Cluster sample b) Stratified sample c) Random Sample d) Convenience sample
d) Convenience sample
What is predictive analytics? a) Analyzing past marketing campaigns b) Using data mining, statistics, experiments, and machine learning to predict future outcomes c) Gathering real-time marketing data d) Measuring customer satisfaction
b) Using data mining, statistics, experiments, and machine learning to predict future outcomes
What is the purpose of a test market in marketing research? a) To test the skills of the marketing team. b) To expose a product to the entire target market at once. c) To assess how well an offering will be received before a full-scale launch. d) To create a controlled laboratory setting for experiments.
c) To assess how well an offering will be received before a full-scale launch
What is market intelligence? a) Researching consumer behaviour through surveys. b) Analysing sales data to identify trends. c) Monitoring the market and competitors to gather insights. d) Developing new product ideas based on customer feedback.
c) Monitoring the market and competitors to gather insights
What is a key benefit of qualitative research? a) The ability to generalize findings to a large population b) Obtaining numerical data for statistical analysis c) Gaining in-depth insights into consumer behaviour and motivations d) Conducting experiments in a controlled environment
c) Gaining in-depth insights into consumer behaviour and motivations
Why is it important to carefully define the problem or opportunity in marketing research? a) To reduce the cost of the research. b) To impress stakeholders with a clear problem statement. c) To ensure that the research addresses the core issue and provides relevant insights. d) To avoid using complex research methodologies.
c) To ensure that the research addresses the core issue and provides relevant insights.
Question 15: What is data warehousing? a) A method of collecting primary data through surveys b) A location for combining and storing data c) A type of qualitative research d) A statistical technique for analyzing data
b) A location for combining and storing data
What is a value proposition? a) A detailed financial forecast b) A complex marketing strategy c) A succinct statement of why customers should buy your brand d) A list of product features
c) A succinct statement of why customers should buy your brand
Which of the following best describes positioning in marketing? a) The physical location of a product in a store b) How your product is differentiated in the mind of the target customer c) The price point of a product compared to competitors d) The promotional activities used to create product awareness
b) How your product is differentiated in the mind of the target customer
In the context of the BCG matrix, what is a “cash cow”? a) A product with low market share in a high-growth market b) A product with high market share in a low-growth market c) A product with high growth and high market share d) A product with low growth and low market share
b) A product with high market share in a low-growth market
What should be included in the executive summary of a marketing plan? a) Detailed financial projections spanning over 10 years b) A brief description of the market, product, value proposition, and strategy c) Comprehensive SWOT analysis d) Full transcripts of customer interviews
b) A brief description of the market, product, value proposition, and strategy
What is the primary goal of sales forecasting? a) To minimize marketing expenses b) To maximize production capacity regardless of demand c) To estimate how much the company will actually sell d) To create an overly optimistic target for the sales team
c) To estimate how much the company will actually sell
Which of the following is a judgment technique used in forecasting? a) Trend analysis b) Exponential smoothing c) Executive opinion d) Correlational analysis
c) Executive opinion
What is a marketing audit? a) A financial review of marketing expenses b) An examination of a company’s marketing strategies as they are implemented c) A legal review of advertising campaigns d) A customer satisfaction survey
b) An examination of a company’s marketing strategies as they are implemented
What is the purpose of segmentation in marketing? a) To target all potential buyers with a single marketing mix b) To divide potential buyers into groups with similar characteristics c) To increase the price of products d) To reduce the amount spent on marketing
b) To divide potential buyers into groups with similar characteristics
Which of the following is a demographic segmentation base? a) Lifestyle b) Benefits sought c) Usage rate d) Age
d) Age
What is post-purchase dissonance? a) The excitement a customer feels after buying a new product b) Buyer’s remorse after making a purchase c) The process of comparing different products before a purchase d) Customer loyalty to a particular brand
b) Buyer’s remorse after making a purchase
What is planned obsolescence? a) Selling products that are already out of date b) Deliberately making products unusable after a certain period c) Designing products to last as long as possible d) Offering lifetime warranties on products
c) Observing people in their natural environment
What is ethnography in marketing research? a) Statistical analysis of consumer data b) Conducting surveys with a large sample size c) Observing people in their natural environment d) Focus groups with industry experts
c) Observing people in their natural environment
What is the purpose of test marketing? a) To evaluate the performance of the marketing team b) To assess the likely success of a product before a full launch c) To generate publicity for a new product d) To test the technical capabilities of a product
b) To assess the likely success of a product before a full launch
What is a key characteristic of services? a) They can be stored for later use b) They always involve tangible goods c) They provide buyers with an intangible benefit d) They have a standardized price
c) They provide buyers with an intangible benefit
According to the RATER model, what does “assurance” refer to? a) The physical appearance of a service environment b) The degree of trust a customer has in the service provider c) The ability to deliver consistent quality d) The service provider’s ability to respond to customer needs
b) The degree of trust a customer has in the service provider
In the seven key concepts of marketing management, what do the “3Cs” of pricing refer to? a) Communication, channels, and competition b) Convenience, cost, and customer service c) Customer factors, competitor factors, and cost factors d) Creativity, control, and consistency
c) Customer factors, competitor factors, and cost factors
What is the main difference between primary and secondary data? a) Primary data is more expensive than secondary data b) Primary data is collected for a specific purpose, while secondary data already exists c) Secondary data is always more reliable than primary data d) Primary data is easier to access than secondary data
b) Primary data is collected for a specific purpose, while secondary data already exists
What is agile marketing? a) A marketing strategy that focuses on speed and efficiency above all else. b) A traditional marketing approach. c) The practice of using data and analytics to continuously identify promising opportunities or solutions and conduct market tests quickly d) A marketing approach that ignores customer feedback in favour of gut feelings and creative brainstorming.
c) The practice of using data and analytics to continuously identify promising opportunities or solutions and conduct market tests quickly
In the context of marketing research, what is the purpose of a sampling frame? a) A framework for analyzing qualitative data. b) A list from which a research sample is drawn c) A set of guidelines for ethical marketing practices. d) A statistical model used to determine sample size.
b) A list from which a research sample is drawn
What is market potential? a) The sales potential of a particular company. b) Total industry-wide sales expected in a particular product category for the time period of interest c) The potential size of a company’s marketing budget. d) The number of new customers a company can acquire in a given year.
b) Total industry-wide sales expected in a particular product category for the time period of interest
What is market intelligence? a) The process of conducting surveys to gather customer feedback. b) Analyzing sales data to identify trends. c) Monitoring the market and competitors to gather insights. d) Developing new product ideas based on customer feedback.
c) Monitoring the market and competitors to gather insights
What is a data management platform (DMP) used for? a) Storing and organizing physical marketing materials. b) Managing customer relationships through CRM. c) Targeting groups of consumers automatically with online advertisements. d) Analyzing sales data to identify market trends.
c) Targeting groups of consumers automatically with online advertisements.
What does total cost of ownership (TCO) refer to? a) The initial purchase price of a product. b) The cost of marketing and advertising a product. c) The total amount someone pays to own, use, and eventually dispose of the product. d) The cost of manufacturing a product.
c) The total amount someone pays to own, use, and eventually dispose of the product.
What are some ways of measuring the success of one-to-one marketing? a) Higher customer satisfaction ratings, increased revenues earned per customer, number of products sold to customers b) Only through customer satisfaction ratings c) Measuring total revenue and volume of sales alone d) Lowering prices for consumers
a) Higher customer satisfaction ratings, increased revenues earned per customer, number of products sold to customers
What does line breadth refer to? a) Number of different product lines a company has b) All of the product lines a company has to offer. c) Number of product levels in a product d) Number of product lines one specific product has
a) Number of different product lines a company has
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A small business owner notices a drop in sales for a particular product line. To understand the possible reasons, they informally discuss the issue with their customers and suppliers. According to the text, what is this business owner engaging in?
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a) Marketing research
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b) Market intelligence
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c) Predictive analytics
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d) Agile marketing
b) Market intelligence
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A marketing manager needs to determine the optimal price point for a new product. They decide to conduct a study where they test different price levels in different markets and measure the impact on sales. What type of research design is the marketing manager employing?
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a) Exploratory research design
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b) Descriptive research design
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c) Causal research design
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d) Qualitative research
c) Causal research design
3.
A company wants to understand consumer perceptions of its brand compared to competitors. They hire a research firm to conduct in-depth interviews with a small group of consumers, asking open-ended questions about their feelings and experiences with the brand. What type of research is being conducted?
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a) Descriptive research
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b) Causal research
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c) Qualitative research
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d) Quantitative research
c) Qualitative research
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A global company is planning to launch a new product in a foreign market. To ensure the marketing messages are accurately conveyed, they hire a translator to translate the survey into the local language and then have another translator translate it back to the original language. What is this process called?
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a) Localization
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b) Back translation
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c) Content analysis
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d) Data mining
b) Back translation
Analyse the potential weaknesses of using only a convenience sample for a study aimed at understanding the preferences of all grocery store shoppers. Which of the following is the most significant concern?
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a) Convenience samples are too expensive to implement.
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b) The sample may not be representative of the entire target market.
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c) Convenience samples do not allow for statistical analysis.
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d) The data collected will be too difficult to analyse.
b) The sample may not be representative of the entire target market
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A company wants to gather data about sensitive topics such as personal finances and health habits from survey respondents. Which method will likely yield the most accurate and honest responses?
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a) Face-to-face surveys
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b) Phone surveys
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c) Mail surveys
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d) Online surveys where responses are submitted electronically
d) Online surveys where responses are submitted electronically
You’re tasked with writing a questionnaire but want to avoid “garbage in, garbage out.” What steps should you take?
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a) Include complex questions to challenge respondents.
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b) Only use open-ended questions to get detailed answers.
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c) Test the questionnaire with a small group first.
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d) Focus on quantity over quality to get more data.
c) Test the questionnaire with a small group first
What should a well-structured marketing research report include to ensure decision-makers understand the reliability of the findings?
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a) A list of all research participants
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b) Detailed descriptions of all statistical techniques used
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c) A discussion of the study’s limitations and potential errors
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d) A guarantee of 100% accuracy in the findings
c) A discussion of the study’s limitations and potential errors
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A marketing manager at a retail company observes that customers are spending less time browsing in-store and seem to be focused on quickly finding specific items. To gain a deeper understanding of this behaviour, the manager decides to implement a qualitative research method where they observe and record customers’ shopping patterns and interactions within the store environment. Which research method is the manager employing?
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a) A survey using closed-ended questions
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b) A causal experiment manipulating store layout
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c) Ethnography
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d) A quantitative study measuring purchase frequency
c) Ethnography
A technology company is developing a new “smart” refrigerator that collects data on consumers’ grocery habits. Before launching the product, they want to address potential consumer concerns about data privacy. What action would be most effective in building consumer trust?
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a) Implement aggressive marketing campaigns
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b) Ensure data collection is anonymous and untraceable
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c) Hire a Chief Privacy Officer to develop data policies and ensure legal compliance
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d) Offer discounts to consumers who agree to share their data
c) Hire a Chief Privacy Officer to develop data policies and ensure legal compliance
A marketing research firm is tasked with assessing the popularity of a new product concept. Due to budget constraints, they opt to use a convenience sample by interviewing shoppers at a local mall. What is the primary risk associated with this approach?
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a) The sample size will be too small to yield meaningful results.
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b) The data collected will be too complex to analyse.
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c) The results may not be generalisable to the broader target market.
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d) Convenience samples are inherently unreliable.
c) The results may not be generalisable to the broader target market.
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A company selling luxury watches wants to understand the underlying motivations and perceptions of its target customers. They decide to use a projective technique in their research. Which of the following methods aligns with this approach?
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a) Administering a survey with structured questions about brand preferences
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b) Conducting A/B testing on different website layouts
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c) Asking respondents to complete sentences such as “People who wear our brand of watch are…”
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d) Measuring physiological responses to watch advertisements
c) Asking respondents to complete sentences such as “People who wear our brand of watch are…”
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A business owner in Ireland is considering opening a drive-through coffee kiosk. Before investing, they should engage in which of the following activities?
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a) skip market intelligence and dive straight into marketing research
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b) expand without doing any research
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c) use market intelligence to assess cup holder use in Ireland
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d) assume what worked in Canada will work in Ireland
c) use market intelligence to assess cup holder use in Ireland
A marketing team is using clickstream data to optimise their website. Which action reflects effective use of this data?
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a) Ignoring areas of the website with low traffic
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b) Monitoring the total numbers of website visitors
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c) automatically offering visitors product promotions based on their browsing patterns
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d) awarding a million-dollar prize to refine the data
c) automatically offering visitors product promotions based on their browsing patterns
A global marketing company expands by acquiring marketing research companies abroad. Why?
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a) face-to-face surveys are superior
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b) to deal with complexities of global research
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c) not all people can read or lack phones and computers
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d) Coke’s revenues are earned in markets abroad
b) to deal with complexities of global research
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What is the best use of physiological measurements in research design?
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a) they tell you why people like certain ads
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b) measures peoples involuntary physical responses to ads
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c) it removes the need for surveys
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d) it saves money and gives great insight
b) measures peoples involuntary physical responses to ads
