MKT 301 - Marketing Management Exam 1, 2, 3 all in one
(Pomirleanu) UNLV |COMPREHENSIVE FREQUENTLY
MOST TESTED QUESTIONS AND VERIFIED
ANSWERS|GET IT A+
General concern for natural world, lifestyles of health and sustainability, green products
- ✔✔ANSW✔✔..LOHAS
Less materialism, greater "meaning of life" - ✔✔ANSW✔✔..Renewed Spirituality
People and procedures assessing info to help marketing decision makers
Ex - Walmart's Retail Link system, gives suppliers info on customer buying patterns and
store inventory levels - ✔✔ANSW✔✔..What is a marketing information system?
Electronic collections of information obtained from data sources within the company
network, and includes customer and market information
-Can be used to help the company build a loyal customer base
-Can be accessed more quickly and cheaper than other sources of info
-This info can be incomplete or in the wrong form and therefore not ideal for making
marketing decisions
-Requires a lot of effort to maintain - ✔✔ANSW✔✔..What are internal databases?
Systemic collection and analysis of publicly available information about customers,
competitors, and marketing developments
-The goal is to improve the company's strategic decision making by enabling it to
understand the consumer environment and opportunities/threats within the market
-Techniques include observing customers, quizzing company employees, bench
warming competing products, and researching the internet - ✔✔ANSW✔✔..Marketing
Intelligence
companies located next to competition - ✔✔ANSW✔✔..Law of Fellowship
- fresh understanding of customers and the marketplace derived from marketing info
that become the basis for creating customer value - ✔✔ANSW✔✔..Consumer Insights
Studies the attractiveness and the dynamics of a special market within a special
industry - ✔✔ANSW✔✔..Market Information Analysis
,Systemic design, collection, analysis, and reporting of data relevant to specific
marketing situations facing an organization - ✔✔ANSW✔✔..Marketing Research
1. Defining the problem and research objectives
2. Developing the research plan for collection information
3. Implementing the research plan, collecting and analyzing the data
4. Interpreting and reporting the findings - ✔✔ANSW✔✔..Marketing Research Steps
An image product - ✔✔ANSW✔✔..Pepsi is what kind of product
Exploratory, Descriptive, Causal - ✔✔ANSW✔✔..Types of Research
Gathers preliminary info that will help define the problem and suggest a hypotheses -
✔✔ANSW✔✔..Exploratory Research
Describe Things - ✔✔ANSW✔✔..Descriptive Research
Marketing research depicts the Harley-Davidson motorcycle shopper as a middle-aged,
college educated individual with an average annual income of $78,000. This is an
example of: - ✔✔ANSW✔✔..market segmentation research.
Which of the following is an example of importance-performance analysis? -
✔✔ANSW✔✔..Blackberry analyzing iPhone's success factors.
Marketing strategy design includes all of the following, EXCEPT: -
✔✔ANSW✔✔..market opportunity assessment.
Which of the following is NOT an example of target marketing? - ✔✔ANSW✔✔..A
restaurant intending to find out the preferences of its competitor's customers.
Acme Corporation surveys its consumers to determine how they view the similarities
and dissimilarities among relevant product attributes for a set of competing brands. This
is an example of: - ✔✔ANSW✔✔..positioning research.
When Cheetos became the first major brand of snack foods to be made and marketed
in China, product taste tests revealed that the traditional cheese-flavored corn puffs did
not appeal to Chinese consumers. This is an example of: - ✔✔ANSW✔✔..new-product
planning research.
,A market researcher is conducting a product portfolio analysis. This process would help
the marketing manager do all of the following, EXCEPT: - ✔✔ANSW✔✔..determining
retail channels for the company's product portfolio
Customer satisfaction research: - ✔✔ANSW✔✔..is designed to assess strengths and
weaknesses in a firm's marketing mix
Which of the following is NOT a distribution decision? - ✔✔ANSW✔✔..Reducing
promotion costs.
A new supermarket, The Factory, has installed closed circuit cameras and TVs to find
out the category of products and the specific brands favored by customers. This is done
so that space allocated to different products can be revised. This is an example of: -
✔✔ANSW✔✔..retailing research.
Which of the following is NOT a pricing decision? - ✔✔ANSW✔✔..What is the most
effective way of communicating a price increase?
Market research studies that are unique to retailers include all of the following,
EXCEPT: - ✔✔ANSW✔✔..customer satisfaction studies
Which of the following statements is true about marketing research firms? -
✔✔ANSW✔✔..A database established through optical scanner methods is an example
of syndicated business services
DC Tech is a market research firm without many clients. So, when a new client
approached them, DC Tech decided to capture this new client. Which of their following
actions is NOT necessarily unethical? - ✔✔ANSW✔✔..It proposed branded "Black Box
methodologies".
Which of the following is ethical in marketing research practices? - ✔✔ANSW✔✔..De-
briefing
All of these are unethical activities on the part of the researcher, EXCEPT: -
✔✔ANSW✔✔..overstating research findings
Frugging means: - ✔✔ANSW✔✔..claiming that a survey is for research purposes and
then asking for a sale or donation.
All of the following are guidelines provided by the Marketing Research Association
(MRA), EXCEPT: - ✔✔ANSW✔✔..prohibiting clickstream tracking
All of the following are considered unethical behaviors by the respondents, EXCEPT: -
✔✔ANSW✔✔..refusing to fill in the questionnaire.
, A marketing researcher feels that her job is becoming more and more challenging. All of
these factors could make the job of a marketing researcher more challenging, EXCEPT:
- ✔✔ANSW✔✔..advances in statistical software have made it difficult to do data
analysis.
Information research process: - ✔✔ANSW✔✔..is a systematic approach to collecting,
analyzing, interpreting, and transforming data into decision-making information.
In contrast to marketing researchers, management decision-makers are more focused
on: - ✔✔ANSW✔✔..market performance.
John and Bill work for CompTech Solutions. Bill often comments that John is a typical
"marketing researcher" whereas he (Bill) is a "management decision-maker." Assuming
that Bill's characterization of John is correct, identify which of the following statements
will most likely be false about John? - ✔✔ANSW✔✔..John is sensitive to the cost of
obtaining additional information.
A Marketing manager wants to do a market study before launching a new product. The
research study will take three months to complete. Just two weeks before starting the
study, she learns that their competitor is about to launch a product that will compete
directly against her company's new product. Given this new development, she decides
to cancel the research study and launch the product immediately. The reason for NOT
conducting the study is: - ✔✔ANSW✔✔..time constraints associated with the problem
make it impossible to conduct the study.
Marilynn Castillo is a Marketing manager with a major firm. She is debating whether to
conduct a marketing research study before commercializing a product. She believes
that she will spend about $100,000 to conduct the study. If she launches the product
without conducting the study and the product fails, her firm could suffer a loss of $2
million. One can say that Marilynn is doing: - ✔✔ANSW✔✔..a cost-benefit assessment.
A scientific research procedure should include all the following characteristics except
being: - ✔✔ANSW✔✔..subjective
The first task in the information research process is to: - ✔✔ANSW✔✔..identify and
clarify management's information needs.
Symphony, a market research firm has formed a team to study a problem. In order to
familiarize with the overall complexity of the problem, the market research team decides
to gather and synthesize background information including events and factors that led to
the current problem. This research team is engaged in doing a(n): -
✔✔ANSW✔✔..situation analysis.
