UGBA 106 Midterm Flashcards
T or F
The field studies approach in quantitative analysis is an ideal way to test real-time
marketing approaches by testing unlimited numbers of variables at the same time
False
T or F
Using qualitative approaches or quantitative approaches, but not both, allows the
researcher to achieve greater depth and potential insights to address the research
objectives and do so more effectively and efficiently
False
T or F
When analyzing qualitative data, one major problem is interpreting what the
researcher read, heard and saw.
True
It seems like Megan’s boss is never satisfied. Every time Megan produces the
requested marketing research, he comes back with a research question that requires
more research. He has said, “You can’t be too careful. This is an important decision!”
Which of the following is the most significant problem in overdoing research?
A) Megan’s team can run out of both primary and secondary data by constantly using
them.
B) Megan’s team would rather leave this research and get on with the other marketing
tasks ahead of them.
C) Having Megan’s team overdo the research gets to be expensive and produces
marginal results.
D) This is a common problem in marketing research, and Megan’s boss is not out of line
with modern business practice.
C) Having Megan’s team overdo the research gets to be expensive and produces
marginal results.
Marketing research should be viewed as
A) an investment.
B) a financial risk.
C) an opportunity to promote a brand.
D) a point of differentiation
A) an investment.
Which of the following statements most accurately details a practical consideration
for conducting marketing research?
A) Due to tremendous requirements of time and money, companies should undertake
marketing research only when warranted and guided by goals.
B) It is best to begin a research project with goals, but remain adaptable and follow the research where it leads.
C) Call reports from outside sales representatives have been replaced by decision
support systems.
D) Researchers must be careful to avoid respondent fatigue, which could reduce
accurate and useful information.
D) Researchers must be careful to avoid respondent fatigue, which could reduce
accurate and useful information.
T or F
To use demographic segmentation effectively marketers search for a unique, defining
consumer characteristic.
False
Demographic segmentation in marketing is a type of consumer segmentation that involves grouping consumers based on shared demographic characteristics to create better marketing campaigns
T or F
Despite the obvious difference in purchasing behaviors, uses, and sizes of
transactions in marketing to businesses and marketing to consumers, segmentation can
be used for B2B and B2C
True
T or F
It is important to identify which consumers are NOT interested in your product when
segmenting a market
True
You and some college friends are finally opening the cupcake bakery you’ve always
dreamed about. After a great deal of research, you have chosen a target market and are
now busy crafting your marketing strategy. To be successful, what should be your next
step?
A) You should now differentiate your product offerings from those of your competitors
in ways that are meaningful to your target market.
B) You should use technological tools like PRIZM or Tapestry to segment your target
market to find a grouping of customers that is meaningful to your business.
C) You should move forward with creating your marketing mix for the target market you have selected.
D) You should begin to study what your target market really wants and why it wants it.
A) You should now differentiate your product offerings from those of your competitors
in ways that are meaningful to your target market.
Rebecca has evaluated the potential segments for her travel advisory service, and she has about 10 to 12 possible segments. What general advice would you offer as she
considers the next steps?
A) Focus on a single segment, get it right, and move on from there.
B) Determine five or six segments that have the highest potential return on marketing investment and use successes from that effort to fund pursuing the rest.
C) Implement a pilot test or conduct market research on samples within each segment to get a better idea of each segment’s potential.
D) Pursue all of the segments knowing that some will not be as successful as others and eliminate those in future efforts
A) Focus on a single segment, get it right, and move on from there.
JX Manufacturing has created a positioning statement: “JX will cheerfully offer the
fastest, highest-quality parts of any company in the tri-state area.” What essential part is
missing?
A) What are the three states?
B) Who are the target customers?
C) What specific parts are being offered?
D) What level of profitability is required?
B) Who are the target customers?
T or F
The need for a stronger and clearer customer perspective was the reason for the
evolution from the 4 Ps to the 4 Cs is changing the customer perspective.
True
T or F
From the perspective of the marketer, the value exchange is considered Price in the 4Ps, while from the customer’s perspective using the 4 Cs, it is considered cash.
False
4cs:
Consumer
Cost
Convenience
Communication
4Cs focuses on what customers perceive
T or F
Two trends are shaping current marketing practice: experiential marketing and
increased use of mass marketing.
False
Describe the extended marketing mix with a fifth P and C added
to account for current trends that have changed marketing practices
Fifth p is ___
