BUAD 332 EXAM 1 TEST BANK QUESTIONS WITH ALL CORRECT ANSWERS
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Course
BUAD 332
Institution
BUAD 332
BUAD 332 EXAM 1 TEST BANK QUESTIONS WITH ALL CORRECT ANSWERS
what is a macro environment? - Answer-- Larger societal forces that affect the microenvironment
- to understand the changing market opportunities
Who are actors in the microenvironment? - Answer-the company, suppliers, marketing int...
BUAD 332 EXAM 1 TEST BANK
QUESTIONS WITH ALL CORRECT
ANSWERS
what is a macro environment? - Answer-- Larger societal forces that affect the
microenvironment
- to understand the changing market opportunities
Who are actors in the microenvironment? - Answer-the company, suppliers, marketing
intermediaries, customers, competitors, and publics
who are market intermediaries? - Answer-help the company to promote, sell, and
distribute its goods to final buyers
What are the 5 types of markets that purchase a companies goods and services? -
Answer-1. consumer markets
2. business markets
3. reseller markets
4. government markets
5. international markets
What makes up the companies macro enviroment? - Answer-- demographic forces,
economic forces, natural forces, technological forces, political forces, and cultural forces
- usually not influencable
what do companies need info on? - Answer-- customer needs, marketing environments,
and competition
What are internal databases? - Answer-electronic collections of information obtained
from data sources within the company
what is marketing intelligence? - Answer-- systematic collection and analysis of publicly
available information about competitors and developments in the marketing enviroment
what is marketing research? - Answer-systematic design, collection, analysis, and
reporting of data relevant to a specific marketing situation facing an organization
what is the marketing research process? - Answer-1. defining the problem and research
objectives
2. developing the research plan for collecting information
3. implementing the research plan- collecting and analyzing data
4. interpreting and reporting the findings
, What is exploratory research? - Answer-- gathering of preliminary information that will
help define the problem and suggest hypotheses.
what is descriptive research? - Answer-it describes things (example: market potential for
a product, demographics, and attitudes)
what is casual research? - Answer-it tests hypotheses about cause-and0effect
relationships
what is secondary data? - Answer-- information that already exists somewhere
- available more quickly and at a lower cost than primary data
what is primary data? - Answer-- consists of information collected for the specific
purpose at hand
- must be relevant, accurate, current, and unbiased.
What is qualitative research? - Answer-- observations, in-depth interviewing, focus
groups
What is quantitative research? - Answer-- surveys, experiments, and "big data"
what are two examples of probability sampling? - Answer-- simple random sample
- stratified random sample
what is a simple random sample? - Answer-every member of the population has an
equal and known probability of selection
what is a stratified random sample? - Answer-- population is divided into mutually
exclusive groups and each group is randomly sampled
what are two non probability samples? - Answer-- convenience sample
- judgement sample
what is a convenience sample? - Answer-- researcher selects population based upon
ease and avaliability
what is a judgment sample? - Answer-researcher strategically selects members who are
good representatives of the population
what is data mining? - Answer-- a process that accesses the company's internal data,
(usually stored in a data warehouse) and then transforms data into knowledge and
hopefully eisdom
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