Exam 4: Market Research Essentials

The information needs of all marketing managers are essentially the same.

Salespeople's reports summarizing each sales call are a source of internal data.

Explain three ways that a CRM system can be used for marketing research.

B&B Co. is conducting market research to determine if a new beverage will be successful. The company is in the process of determining the kind of research that needs to be done, the information needed, and the sampling plan-including the research participants. B&B is in which stage of the market research process?

Apex Jerseys, a manufacturer of sports apparel and sports equipment, has experienced a sharp drop in sales over the last quarter. The marketing manager asks the marketing research department to investigate this alarming development. The first step taken by the researchers in their process should be to ________.

The marketing manager for Ned's Bar and Grill notices that his typical customer is a male college student. In the context of external information sources, he is using ________ to define his market.

Since there are so many other companies that operate in the food service industry, the marketing manager of Gourmet Dining pays detailed attention to what other restaurants that offer similar meals, prices, and services are doing. In the context of external forces affecting marketing decisions, the marketing manager's focus is on ________.

The marketing manager of Zenith Corp. is interested in ranking clients on the basis of their profitability, and accesses a database that tells him about the frequency and size of each client's order along with the actual costs per order. This database is part of the ________ system.

Secondary data are collected for some other purpose than the problem currently being considered.

In marketing planning, situation analysis involves identification of competitive strengths, weaknesses, and trends.

To ensure the primary data they collected about consumer reactions to their product were accurate, the makers of Classic Toiletries hired a single research firm to visit certain cities in various countries. In the past, the company had used mail and telephone surveys by local companies in each country to gather data, but it was concerned about whom these companies were surveying and if they actually fit the demographic and lifestyle profiles of Classic's target market. Classic hired a new research firm to overcome the problem of ________ that can occur when collecting primary data in global markets.

The marketing management team of Brand Z Toys is looking at the possibility of opening a new plant in one of several developing countries. Before they decide on which country they want to build in, they want to conduct some preliminary research including local population demographics and lifestyle characteristics. However, they have discovered that the governments in several of these countries do not have a department that collects these data and no independent research firm has measured any of these areas. This demonstrates which issue with secondary data in global markets?

An in-depth interview is a structured conversation with an individual who was selected at random.

Which of the following is TRUE of descriptive research?

Companies can use demographic data to create profiles of current customers and identify new market opportunities.

Mark Jones, the marketing manager for Big Brand Furniture, is conducting an analysis of internal sales data. These data are collected and stored electronically on site by each store. He is able to access the data on his computer at the corporate headquarters. He is gathering this information via a(n) ________.

Which of the following is an advantage of secondary data?

As the marketing manager for National Household Cleaner Co., you are interested in collecting some qualitative primary data about what outcomes consumers want from your products. You would like the customers you study to react to each other's ideas. However, you want information from a wide range of customers from across the country. The best way to achieve this is to use a(n) ________.

The marketing manager for Brand K retail stores is in the process of getting primary data from customers to learn which current products need improvement. She is using a probability sampling method, but is having trouble figuring out how to contact customers and get them to participate. She is also debating alternative ways to record the responses so that they can be analyzed. She is concerned with the ________ part of the market research process.

The CEO of Big Wheel Automotive is concerned about declining sales. He has identified his research problem as the fact that his competitors are drawing away his business. He purchases access to J. D. Power's automobile rankings to learn about possible reasons for the shift in consumer purchasing. In this case, the CEO is using ________ to collect secondary data for his research problem.