Take Test: module 4 quizCourse Principles of MarketingTest module 4 quiz Question 11. Megan believes the reason the sales of one of her company’s products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Megan is:1. developing a hypothesis.2. defining a problem.3. collecting data.4. creating a research design.2 points Question 21. Companies should not avoid complaining customers because:1. companies need to admit the faults in their products or services.2. in most cases they are looking for something free and can be easily appeased with a coupon or gift card.3. complaints handled promptly and effectively could lead to greater customer loyalty.4. a firm’s rank in the JD Power survey could drop.2 points Question 31. The purpose of conducting market segmentation and market opportunity analysis in the second stage of the market segmentation process is to:1. design a marketing strategy and tactics to reinforce the firm’s image.2. determine the level of resources that must be committed to each segment.3. identify the specific members of each segment and contact each of them directly.4. produce a forecast of market potential within each segment.2 points Question 41. Marketing research is most likely to be contracted to an outside firm when the:1. project is being led by in-house personnel with marketing degrees.2. outside provider has the latest technology.3. outside provider can do the work at a lower cost than the firm.4. problem is well-defined and clearly understood.2 points Question 51. A marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities is called _____ marketing.1. frequency2. internal3. database4. affinity2 points Question 61. In the Roper Starch Worldwide study the largest segment that values professional and material goals more than other groups is the:1. fun seekers.2. strivers.3. altruists.4. devouts.2 points Question 71. Landsdown Dairy is planning to introduce a new flavored milk drink. As the marketing manager you want to appraise the consumer response to this new product. The procedure typically used would be:1. trend analysis.2. test markets.3. a jury of executive opinion.4. the Delphi technique.2 points Question 81. An added bonus of electronic data interchange (EDI) is that in addition to automating the buying process it has also opened new channels for gathering marketing information.1. False2. True2 points Question 91. Due to its low cost the controlled experiment is the most commonly used method of collecting data for marketing research.1. True2. False2 points Question 101. Which of the following federal agencies is the most important source of secondary data for marketing research studies?1. Federal Reserve2. Bureau of Labor Statistics3. Treasury Department4. Census Bureau2 points Question 111. The nature of a firm’s organization structure typically has little or no effect on the provision of quality offerings to its customers.1. True2. False2 points Question 121. A population used for market research purposes is a subgroup of the total sample selected for analysis.1. False2. True2 points Question 131. To be effective market segmentation must meet which of the following basic requirements?1. The firm must avoid focusing on non-variables such as profitability and volume.2. The company must expand beyond its marketing capabilities to capture growing markets.3. The market segment must have measurable purchasing power and size.4. The market segment must reflect the population’s changing attitudes and lifestyles.2 points Question 141. All of the following are best utilized as short-run sales forecasting techniques except:1. the Delphi technique.2. survey of buyer intentions.3. sales force composite.4. jury of executive opinion.2 points Question 151. _____ marketing is an information-based approach that collects infinite amounts of data that must be mined for specific information about markets and consumers.1. Frequency2. Affinity3. Database4. Customer service2 points Question 161. The average lifetime of a customer relationship ultimately depends on the sales representative assigned to handle the account or customer.1. True2. False2 points Question 171. “On the street” interviews conducted by a broadcaster with anyone who passes by are examples of _____ sampling.1. media2. convenience3. cluster4. stratified2 points Question 181. The information analysis and forecasts accumulated through the entire market segmentation decision process allows management to assess the potential for achieving company goals and to justify committing resources to develop one or more segments.1. False2. True2 points Question 191. Marketers applying a positioning strategy want to:1. make their product look as much like the market leader as possible.2. make sure they clearly outline the product’s possible applications.3. emphasize a product’s unique advantages and differentiate it from competitors’ options.4. talk to specific known users of the product.2 points Question 201. Sales forecasts play a major role in:1. marketing research.2. quality control.3. qualitative techniques.4. new product decisions.2 points Question 211. Competitive intelligence is essentially the same thing as business intelligence.1. True2. False2 points Question 221. Douglas Knowles & Howe a marketing research firm contracts with clients to conduct complete marketing research projects including telephone and online interviews. DK&H is a _____ firm.1. limited service2. full-service3. customer service4. syndicated2 points Question 231. Observational research has no real benefits in the use of technology to monitor consumers because the consumer cannot be relied on to use the technology correctly.1. False2. True2 points Question 241. Data means nothing unless it can be read somehow. The job of application service providers is to assist marketers in turning the data into meaningful information.1. False2. True2 points Question 251. Internal data collection by marketing researchers is often referred to as situation analysis while exploratory interviews conducted by informed persons outside the firm are considered informal investigation.1. True2. False
