Exam 7: Marketing Research, Decision Support Systems, and Sales Forecasting

Dana is working with a computer-based system that provides a continuous flow of information relevant to his responsibilities.What system is Dana working with?

The two largest sources of information are provided by Statistics Canada and Industry Canada.

Which of the following products is the LEAST likely to be subject to test-marketing prior to introduction?

While shopping at the mall, Lewis is approached by a representative of a marketing research company doing an exploratory study.He is asked to spend 10 minutes answering questions in return for a 25 percent coupon, valid at any store in the mall.From a marketer's perspective, Lewis is known as an accidental sample.

During the last year, General Gasket Co.has experienced a sales decrease of nearly 20 percent.In order to define the problem, General Gasket must look for the underlying causes of its declining sales.A logical starting point is the firm's marketing mix and target market.

Market research aids decision makers in analyzing data and in suggesting possible actions.

A marketer wants information about counties and cities in western Canada with 25 000 residents or more.Where would be a good place to look for this information?

When conducting marketing research, it is important to remember that the symptoms are just as important as the problem itself.

Focus groups are a particularly valuable tool for exploratory research, developing new product ideas, and preliminary testing of alternative marketing strategies.

Among the sources of external secondary data for research are consumer surveys and observations.

Independent marketing research firms might handle only part of a large study for their clients, such as conducting consumer interviews.

Which of the following statements best describes primary data collection methods used by marketing researchers in Canada?

Which of the following is one result of using nonprobability sampling?

A sales forecast is the difference between the actual and planned sales covering a short-run period, usually 12 to 18 months.

A business to business company has 3 clients that comprise 80% of the company's revenue.The company wants to forecast sales for one to five years.Which of the following forecasting techniques would be the MOST appropriate for a firm to use?

Analysis of a firm's sales, profits, and available competitive data is NOT an appropriate exploratory research technique.

An outside marketing research firm is unlikely to be as thorough and accurate as a firm's in-house staff due to the number of clients it services at one time.

A convenience sample is sometimes used in exploratory research, but never in definitive studies.

The first organized marketing research project was undertaken in 1943.

The first step in marketing research is to conduct exploratory research and then use the information to define the problem.