Chapter 7 Assignment

Question 1

Fisher-Price evaluates the results of its marketing changes by monitoring sales in the test markets.
Which step of the marketing approach is expressed here?

Answer 1

Step 5: Take Marketing Actions

Question 2

Researchers was children playing with “Everyday Heroes” in Fisher Price’s Play Lab
Which step of the marketing approach is expressed here?

Answer 2

Step 3: Collect Relevant Information

Question 3

Fisher-Price must specify the limits on time and money available for research
Which step of the marketing approach is expressed here?

Answer 3

Step 2: Develop the research plan

Question 4

The marketing team for the “Heroes” product presents results to management
Which step of the marketing approach is expressed here?

Answer 4

Step 4: Develop Findings

Question 5

Fisher Price launches the “Rescue Heroes” product in test markets
Which step of the marketing approach is expressed here?

Answer 5

Step 5: Take Marketing Actions

Question 6

Fisher-Price wants to determine if kids will play with the toy more if it does not fall over
Which step of the marketing approach is expressed here?

Answer 6

Step 1: Define the Problems

Question 7

While children are playing with the new toys, Fisher-Price collected feedback on possible marketing tactics from mothers
Which step of the marketing approach is expressed here?

Answer 7

Step 3: Collect Relevant Information

Question 8

The market research team analyzes and interprets play observations and focus group interviews

Answer 8

Step 4: Develop Findings

Question 9

Based on focus group feedback, Fisher-Price offers an on-package discount to reduce price consumers
Which step of the marketing approach is expressed here?

Answer 9

Step 5: Take Marketing Actions

Question 10

Because moms are skeptical about the “Everyday Heroes” name, Fisher-Price changes the product’s name to “Rescue Heroes”
Which step of the marketing approach is expressed here?

Answer 10

Step 5: Take Marketing Actions

Question 11

Fisher-Price decides that watching children would be the best approach to collect data
Which step of the marketing approach is expressed here?

Answer 11

Step 2: Develop the research plan

Question 12

Boys played with the new prototype longer than any toy ever tested
Which step of the marketing approach is expressed here?

Answer 12

Step 3: Collect Relevant Information

Question 13

In order to understand consumer purchasing patterns for Lay’s chips, Frito-Lay market researchers are likely to use ________ because it analyzes large purchase history databases and coupon redemption histories looking for patterns.

primary data collection

intercept surveys

surveys

data mining

Answer 13

data mining

Question 14

Carmex’s first efforts in marketing research had the research objective of figuring out who it was as a company and what the Carmex name means. In the first stage of the marketing research approach, ________, the research objective is set.

collecting relevant information

developing findings

defining the problem

taking marketing actions

developing the research plan

Answer 14

defining the problem

Question 15

Carmex uses key Facebook metrics such as “likes” and “engagement” to keep up with the size and activity of Carmex’s Facebook audience. In what stage of the marketing research approach would the Carmex manager determine the number of current Facebook likes and level of engagement activity?

Develop findings.

Define the problem.

Develop the research plan.

Take marketing actions.

Collect relevant information.

Answer 15

Collect relevant information.

Question 16

If Martha wants to determine whether or not she should offer open mic night at the Coffee Collective as part of the coffee experience, this would be an example of her

defining the problem.

collecting information.

establishing parameters.

testing marketing actions.

creating a plan.

Answer 16

defining the problem.

Question 17

To identify the trends present in 10 years of its sales data, the marketing manager employed the Box-Jenkins technique, which utilizes autoregression, moving averages, and seasonal differing to make the data stationary and facilitate sales forecasting. Which technique am I describing?

Answer 17

Statistical Method

Question 18

At the beginning of the firm’s fiscal year, Jose is asked to provide a sales forecast for its lone of motorcycles. To begin the process, he determines the number of motorcycles sold last year and then evaluates both positive and negative factors to determine the forecast. Which technique am I describing?

Answer 18

Judgement of the Decision Maker
Lost-Horse Forecast

Question 19

For simplicity’s sake, Drake decides to estimate the number of eggs he should order for his corner store without any intervening steps. Quite quickly, he decides to order 50 dozen eggs to restock his shelves. Which technique am I describing?

Answer 19

Judgement of the Decision Maker
Direct Forecast

Question 20

After plotting the sales data from the last 13 years, the marketing manager noticed a linear pattern emerging.By extending the lines beyond the observed period, the marketing manager was able to forecast sales for the next 3 years. Which technique am I describing?

Answer 20

Statistical Method
Trend Extrapoliation

Question 21

Kate is the sales manager for a large pharmaceutical firm. Every month, she asks the field sales representatives to estimate the number of doctors and hospitals that will begin prescribing the firm’s new drug next month. Which technique am I describing?

Answer 21

Survey of Knowledgable Groups
Salesforce

Question 22

A restaurant is trying to decide to add fried pickles to its menu. Before they do, the restaurant sampled the item to the customers and then asked ig they would purchase the item if it was priced at $6

Answer 22

Survey of knowledgable groups
Buyer’s intentions