MKTG 323 Exam 1 - FLASHCARDS - Session 2

Question 1

True or false: most marketing research studies are trying to understand and predict consumer behavior, which is a difficult task?

Answer 1

TRUE

Question 2

True or false: marketing research has been around for many years and is still growing?

Answer 2

TRUE

Question 3

If marketing research did not provide value, would it exist?

Answer 3

No

Question 4

What is internal marketing research?

Answer 4

Collecting data and information from within your business, using employee surveys, analysis of sales data and customer feedback

Question 5

True or false: a benefit of internal marketing research is research method consistency?

Answer 5

TRUE

Question 6

With internal marketing research, how is information shared?

Answer 6

Shared across the company

Question 7

True or false: internal marketing research has low research costs?

Answer 7

TRUE

Question 8

Does internal marketing research have the ability to produce actionable research results?

Answer 8

Yes

Question 9

What is external marketing research?

Answer 9

The gathering of product or service information outside of the company, such as through personal or public data

Question 10

True or false: a benefit of external marketing research is it is less subject to company politics and regulations?

Answer 10

TRUE

Question 11

True or false: a benefit of external marketing research is it has specialized talent for the same cost?

Answer 11

TRUE

Question 12

True or false: a benefit of external marketing research is that there is greater flexibility in scheduling studies and specific project requirements?

Answer 12

TRUE

Question 13

What type of data involves the summary, collation and/or synthesis of existing research?

Answer 13

Secondary data

Question 14

What type of data involves the collection of data that does not already exist, which is research to collect original data?

Answer 14

Primary data

Question 15

What type of data is this: Insights from journal articles or company reports?

Answer 15

Secondary data

Question 16

What are types of primary data?

Answer 16

• Questionnaires,
• In-depth interviews, focus group
• direct observation

Question 17

What is the level of difficulty of primary research?

Answer 17

High

Question 18

What is the level of difficulty of secondary research?

Answer 18

Low

Question 19

Is primary research expensive or cheap?

Answer 19

Expensive

Question 20

Is secondary research expensive or cheap?

Answer 20

Cheap

Question 21

Is the level of control high or low with primary research?

Answer 21

High

Question 22

Is the level of control high or low with secondary research?

Answer 22

Low

Question 23

You are studying the influence of Celebrities on teenager’s purchasing behaviors. Which of the following is NOT an example of Secondary Research for this study?

Answer 23

C. Survey data from a questionnaire you developed asking teenagers about their purchasing behaviors

Question 24

What are the steps to defining the research problem?

Answer 24

1. Identify the big problem (MDP) and symptoms, if any
2. Identify the list of possible root causes for this problem.
3. Then ask research questions to confirm if factor X/Y/Z is the root cause?
4. (Not part of defining problem) Once you confirm the cause, provide recommendations, which address this root cause

Question 25

What factors can affect sales?

Answer 25

• Market Condition – Political, economic, and social changes within markets can affect individuals, which in turn can affect sales. • Competitive environment – A significant price reduction by competitors can affect sales. • Brand – Brand awareness can influence sales through the perception. For example, pair luxury with premium pricing. • Product/Service – Any change in the product quality or its availability in the market

Question 26

What is increasing sales of existing products and services to existing customers?

Answer 26

Market penetration

Question 27

What is enticing competitor’s customers to switch?

Answer 27

Targeting competitors

Question 28

What is it when you encourage customers to increase their purchase frequency?

Answer 28

Targeting usage

Question 29

How does promotion drive sales?

Answer 29

Advertising levels, advertising quality, social media usage and other promotion drive sales levels

Question 30

True or false: Sales training can increase sales effectiveness?

Answer 30

TRUE

Question 31

True or false: Stories of poor support told by disgruntled customers can decrease sales?

Answer 31

TRUE

Question 32

True or false: Always start with secondary data?

Answer 32

TRUE

Question 33

What is the decision problem faced by the manager?

Answer 33

MDP

Question 34

What is the research problem faced by the researchers?

Answer 34

MRP

Question 35

Is a MRP or MDP action-oriented and focuses on symptoms?

Answer 35

MDP

Question 36

Is a MRP or MDP information-oriented and focuses on causes?

Answer 36

MRP

Question 37

What is an example of a MDP?

Answer 37

How do we increase sales?

Question 38

What is an example of a MRP?

Answer 38

What factors influence customer purchase decisions?

Question 39

Is this a MRP or MDP: What can Subaru do to improve customer loyalty?

Answer 39

MDP

Question 40

What would be MRP's for Subaru?

Answer 40

What criteria do consumers use for purchasing automobiles? How do consumers evaluate Subaru and competitors?