BUSN Chapter 11 Exam Questions with Answers All Correct
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Course
BUSN
Institution
BUSN
BUSN Chapter 11 Exam Questions with Answers All Correct
Define secondary data - Answer-Existing data that marketers gather or purchase for a research project
Define primary data - Answer-New data that marketers compile for a specific research project
What does the following describe, prim...
BUSN Chapter 11 Exam Questions
with Answers All Correct
Define secondary data - Answer-Existing data that marketers gather or purchase for a
research project
Define primary data - Answer-New data that marketers compile for a specific research
project
What does the following describe, primary or secondary data?:
- tends to be lower cost
- may not meet your specific needs
- frequently outdated
- available to your competitors - Answer-Secondary data
Define some characteristics of primary data? - Answer-more expensive, customized to
meet your needs, fresh, new data, proprietary - no one else has it.
Define observation research - Answer-marketing research that dose not require the
researcher to interact with the research subject
Define survey research - Answer-Marketing research that requires the researcher to
interact with the research subject
Whats an advantage to observation research? - Answer-People actually do often differs
from what they say. it's cheap and effective.
Whats the biggest downside of observation research? - Answer-It doesn't yield any
information on consumer motivation.
Whats the key advantage and disadvantage to survey research? - Answer-- advantage:
you can secure info about what people are thinking and feeling beyond what you can
observe
- disadvantage: many people aren't honest or accurate about their experiences,
opinions, and motivations, which can lead to misleading survey research
What two factors have had a dramatic impact on marketing in the past couple decades?
- Answer-1. surge in social responsibility movement
2. dramatic emergence of the internet and digital technology
, Define green marketing - Answer-the development and promotion of products with
ecological benefits
What has been the most dramatic change because of the digital age? - Answer-The
shift in power from producers to customers
What's the ultimate benefit that businesses seek from marketing? - Answer-Long-term
profitability
Define marketing - Answer-An organizational function and a set of processes for
creating, communications, and delivering value to customers and for managing
customer relationships in ways that benefit the organization and its stakeholders.
True or false: a successful marketer delivers value by filling customer needs in ways
that exceed their expectations. - Answer-True
define utility - Answer-the ability of goods and services to satisfy consumer "wants."
Define form utility - Answer-Satisfies wants by converting inputs into a finished form
Define time utility - Answer-satisfies wants by providing goods and services at a
convenient time for customers
Define place utility - Answer-satisfies wants by providing goods and services at a
convenient place for customers
define ownership utility - Answer-satisfies wants by smoothly transferring ownership of
goods and services from seller to buyer.
True or false: nonprofit organizations employ more people than the federal government
and all 50 state governments combined. - Answer-True
What are the four main types of marketing? - Answer-1. people marketing - sports,
politics, and art dominate this category. Start by figuring out what your customer needs
and then ensure that your product delivers above and beyond expectations
2. place marketing - drawing people to a particular place. cities/states use it to attract
businesses and tourists
3. event marketing - includes marketing or sponsoring of athletic, cultural or charitable
events. Partnerships bt public and private sectors are common.
4. idea marketing - range of public and private organizations market ideas that are
meant to change how people think or act. Ex. recycle, don't drink and drive, etc.
What are the four main eras and briefly explain - Answer-1. production era - top
business priority was to produce large quantities of goods as efficiently as possible
2. selling era - supply exceeded demand
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