Mark 3000 Exam 2 Slides

Front 1

What's the importance of marketing research?

Back 1

1. improve the quality of decision making
2. understand why
3. trace problems
4. understand changes in the marketplace

Front 2

7 steps of the marketing research process

Back 2

1. define problem
2. plan design/gather data
3. specify sampling procedure
4. collect data
5. analyze data
6. prepare/present report
7. follow up

Front 3

sources of secondary data

Back 3

internal corporate information
government agencies
trade and industry associates
business periodicals
news media
internet sources

Front 4

advantages of secondary data

Back 4

1. saves time and money if on target
2. aids in determining direction for primary data collection
3. serves as a basis of comparison for other data

Front 5

disadvantages of secondary data

Back 5

1. may not give adequately detailed information
2. may not be on target with the research problem
3. quality and accuracy of data may pose a problem

Front 6

advantages of primary data

Back 6

1. answers a specific research question
2. data are current
3. source of data is known

Front 7

disadvantages of primary data

Back 7

1. expensive
2. time consuming
3. consumer reluctance to participate (bias)

Front 8

methods of collecting primary data

Back 8

survey
observation
experiments

Front 9

the most popular technique for gathering primary data

Back 9

survey research

Front 10

forms of survey research

Back 10

1. in-home interviews
2. mall intercept interviews
3. executive interviews
4. focus groups
5. telephone interviews
6. mail surveys
7. internet surveys

Front 11

advantages of internet surveys

Back 11

1. rapid development, real time reporting
2. reduced costs
3. personalized questions and data
4. improved respondent participation
5. contact with the hard to reach

Front 12

issues with surveys

Back 12

1. interviewer bias
2. consumer unwillingness to participate

Front 13

ways to increase willingness to participate in surveys

Back 13

1. provide an incentive
2. make it easy to respond
3. be honest in your time estimation
4. relate survey to something important

Front 14

questionnaire issues

Back 14

1. types of questions
2. ordering of questions

Front 15

questions to avoid

Back 15

1. leading
2. loaded
3. double barreled
4. jargon or inappropriate terminology

Front 16

types of probability samples

Back 16

1. random sample
2. stratified sample
3. systematic sample

Front 17

types of nonprobability samples

Back 17

1. nonprobability sample
2. convenience sample

Front 18

a survey in which anyone with a computer and modem can fill out the questionnaire

Back 18

unrestricted internet sample

Front 19

an internet sample with quotas based on desired sample characteristics

Back 19

screened internet sample

Front 20

a sample in which respondents are prerecruited and must qualify to participate

Back 20

recruited internet sample

Front 21

sources of competitive intelligence

Back 21

1. internet
2. UCC filings
3. company salespeople
4. suppliers
5. experts
6. periodicals
7. CI consultants
8. yellow pages
9. government agencies
10. trade shows

Front 22

the starting point of the marketing mix

Back 22

product

Front 23

three components of a product

Back 23

1. tangible good
2. service
3. idea

Front 24

types of consumer products

Back 24

1. convenience product
2. shopping product
3. specialty product
4. unsought product

Front 25

Why do firms sell a large number of different items?

Back 25

to appeal to different markets
to meet different price points

Front 26

product line depth does the following things... 4

Back 26

1. attracts buyers with different preferences
2. increases sales/profits by further market segmentation
3. capitalizes on economies of scale
4. evens out seasonal sales patterns

Front 27

product mix width does the following things... 2

Back 27

1. diversifies risk
2. capitalizes on established reputations

Front 28

adjustments to product items, lines, and mixes

Back 28

product modification
product repositioning
product line extension or contraction

Front 29

benefits of branding

Back 29

1. product identification
2. repeat sales
3. new product sales

Front 30

What protects brand names?

Back 30

The Lanham Act

Front 31

characteristics of a good brand name

Back 31

1. easy to say and remember
2. suggests product use
3. can be easily translated
4. not offensive

Front 32

functions of packaging

Back 32

1. contain and protect
2. promote
3. facilitate storage, use, and convenience
4. facilitate recycling
5. provide information

Front 33

new product development process

Back 33

1. new product strategy
2. idea generation
3. idea screening
4. business analysis
5. development
6. test marketing
7. commercialization
8. new product

Front 34

sources of new product ideas

Back 34

1. customers
2. employees
3. distributors
4. competitors
5. vendors
6. R & D
7. consultants

Front 35

consideratoins in business analysis stage

Back 35

demand
cost
sales
profitability

Front 36

factors in successful new products

Back 36

1. match between product and market needs
2. different from substitute products
3. benefit to large number of people

Front 37

reasons why new products fail

Back 37

1. no discernible benefits
2. poor match between features and customer desires
3. overestimation of market size
4. incorrect positioning
5. price too high or too low
6. inadequate distribution
7. poor promotion
8. inferior product

Front 38

product characteristics and the rate of adoption

Back 38

1. complexity
2. compatability
3. relative advantage
4. observability
5. trialability

Front 39

categories of adopters

Back 39

1. innovators
2. early adopters
3. early majority
4. late majority
5. laggards

Front 40

highest profits are in the _________ stage even though highest sales are in the _________ stage

Back 40

growth
maturity

Front 41

ways to extend time in the product life cycle

Back 41

1. increase frequency of use
2. increase number of users
3. find new uses

Front 42

characteristics of introductory stage in PLC

Back 42

1. high failure rates
2. little competition
3. frequent product modification
4. limited distribution
5. high marketing and production costs
6. negative profits with slow sales increases
7. promotion focuses on awareness and information
8. communication challenge is to stimulate primary demand

Front 43

characteristics of growth stage

Back 43

1. increasing rate of sales
2. entrance of competitors
3. market consolidation
4. initial healthy profits
5. aggressive advertising of the differences between brands
6. wider distribution

Front 44

characteristics of maturity stage

Back 44

1. sales increase at a decreasing rate
2. saturated markets
3. annual models appear
4. lengthened product lines
5. service and repair assume important roles
6. heavy promotions to consumers and dealers
7. marginal competitors drop out
8. niche marketers emerge

Front 45

characteristics of decline stage

Back 45

1. long run drop in sales
2. large inventories of unsold items
3. elimination of all nonessential marketing expenses
4. organized abandonment

Front 46

supply channel intermediaries

Back 46

1. retailer
2. merchant wholesaler
3. agent and/or broker

Front 47

marketing channel functions

Back 47

1. specilization and division of labor
2. overcoming discrepancies
3. providing contact efficiency

Front 48

by overcome discrepancies, channels provide....

Back 48

1. time
2. place
3. assortment
4. possession utility

Front 49

channel members perform key functions...

Back 49

1. transactional
2. logistical
3. facilitating

Front 50

with no intermediaries ____ transactions needed; with 1 intermediary ____ transactions needed

Back 50

25
10

Front 51

Mfg must decide:

Back 51

1. number of levels in the channel
2. distribution intensity at each level

Front 52

market characteristics

Back 52

size
geographic dispersion
buying patterns

Front 53

product factors

Back 53

complexity
cost
ease of movement

Front 54

company (mfg) factors

Back 54

size
desire for control
diversity in consumers/retailers

Front 55

general rule:
shorter more direct channel for:

Back 55

complex, expensive, customized items

Front 56

general rule:
longer, more indirect channel for:

Back 56

low cost, standard items
most consumer products

Front 57

intensive intensity level

Back 57

convenience goods
many intermediaries

Front 58

selective intensity level

Back 58

shopping and some specialty goods
several intermediaries

Front 59

exclusive intensity level

Back 59

specialty goods and industrial equipment
one intermediary

Front 60

logistics measured in terms of

Back 60

order cycle time
product availibility
order accuracy
flexibility
information

Front 61

objective of logistics

Back 61

to give the customer the needed level of customer service at the lowest cost

Front 62

modes of transportation

Back 62

railroads
motor carriers
pipelines
water
airways

Front 63

trends in supply chain management

Back 63

advanced computer technology
outsourcing of logistics functions
electronic distribution

Front 64

logistical components of the supply chain

Back 64

1. sourcing and procurement
2. production scheduling
3. order processing
4. inventory control
5. warehouse and materials handling
6. transportation

Front 65

objectives of sourcing and procurement

Back 65

obtain needed supplies in right quality at lowest cost
develop long term relationships with suppliers

Front 66

determining method and timing of the manufacturing of a mix of products

Back 66

production scheduling