Mkt 310 Wk 5 Midterm Exam & All Possible Questions

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MKT 310 WK 5 Midterm Exam & All Possible Questions

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<div><div><div>MKT 310 WK 5 Midterm Exam - All Possible Questions 1) Using intuition, continuing what was done before, and copying a successful competitor's strategy are examples of ________.A) retail strategies based on nonsystematic researchB) creative problem solvingC) the marketing concept applied to retailingD) executive judgment 2) An example of nonsystematic research in retailing, relating to the effect of a price rise on projected sales, is ________.A) evaluating sales of sweaters at different price levels in prior yearsB) developing an educated "guess" as to demand for sweaters based on current weather conditionsC) interviewing consumers to determine their probability of purchasing sweaters at different pricesD) experimentation with different price levels in matched-pairs of stores 3) The information needs of retail managers are anticipated, collected, organized, and stored on a continuous basis in ________.A) a retail information systemB) observationC) an experimentD) retail research 4) Which of these is not a benefit of the use of a retail information system?A) Opportunities can be foreseen.B) The initial time and labor investment is low.C) Crises can be avoided.D) The elements of a retail strategy can be coordinated. 5) The procedure to gather, integrate, apply, and store information related to specific subject areas is referred to as ________.A) data warehousingB) data miningC) data-base managementD) a retail information system 6) A major benefit to data warehousing is its ________.A) ability for data access and retrieval at multiple locationsB) low costC) continuously being updatedD) ease of use 7) An application of data mining is ________.A) pilferage controlB) sales forecastingC) micromarketingD) mass marketing 8) The use of micromarketing is an example of which target marketing strategy?A) undifferentiated marketingB) mass marketingC) concentrated marketingD) differentiated marketing 9) Which statement concerning the Universal Product Code (UPC) is not correct?A) The UPC is not readable by humans.B) The UPC is now the accepted industry standard by food and general merchandise retailers.C) The UPC symbol also includes price information.D) With the UPC, cashiers no longer have to enter transactions manually. 10) The Universal Product Code (UPC) system allows a retailer to ________.A) develop a personnel performance systemB) evaluate store managers based on profitabilityC) read price information based on the codeD) store and monitor product sales data on an item-by-item basis 11) Retailers and their suppliers regularly exchange information via their computers through the use of ________.A) retail information systemsB) electronic data interchangeC) data-base managementD) customer relationship marketing programs 12) Marketing research in retailing involves ________.A) primary data collection and analysisB) secondary data collection and analysisC) the collection and analysis of information relating to specific issues or problems facing a retailerD) the gathering, storing, and retrieval of data in an orderly manner 13) Which stage of the marketing research process in retailing is concerned with the development of a clear statement of the topic to be examined?A) recommendationsB) primary data collectionC) issue (problem) definitionD) implementation 14) Data that have already been gathered for purposes other than the problem or issue under study are ________.A) secondary dataB) primary dataC) marketing research dataD) marketing information systems data 15) Secondary data can be further broken down into ________ and ________ data.A) probability; nonprobabilityB) internal; externalC) survey; experimentsD) primary; tertiary 16) Data generated through surveys, observation, experiments, and simulation to address the specific problem or issue under study are ________ data.A) primaryB) secondaryC) marketing information systemsD) marketing research 17) A major advantage of secondary data is the ________.A) fit with the research topic to be studiedB) immediate availability of data for analysisC) ability to control the use of questions and the sequence of questionsD) known source and control over data collection 18) A major disadvantage of the use of secondary data is ________.A) its high cost of data collectionB) its lack of a representative sampleC) that data may be categorized in an unusable fashionD) its difficulty in tabulation 19) An example of internal secondary data is ________.A) a new market research study conducted by an independent market research companyB) a new market research study conducted by the firm's market research departmentC) a retailer's profit-and-loss statementsD) annual reports of competitors 20) An example of external secondary data is ________.A) a new market research study conducted by an independent market research companyB) a new market research study conducted by the firm's market research departmentC) company-based inventory recordsD) annual reports of competitors 21) Ongoing studies are made available to many clients for a fee from ________.A) channel membersB) the U.S. federal governmentC) the <em>Business Periodicals Index </em>D) commercial research houses 22) A major advantage of primary data is that the ________.A) study is inexpensiveB) methodology is conducted for the current studyC) data are readily availableD) data can always be collected by a single retailer 23) Sampling of stores, products, or customers in a nonprobability sample is conducted on the basis of ________.A) judgment or convenienceB) an equal chance of being chosenC) a known chance of being chosenD) a table of random digits 24) Information is systematically gathered from respondents by communicating with them in a(n) ________.A) observationB) simulationC) surveyD) experiment 25) Which of the following is not a survey?A) personal interviewingB) customer traffic countsC) a mail-based questionnaireD) a telephone-based questionnaire 26) The potential for interviewer bias is greatest in which survey technique?A) mail surveyB) observationC) telephone surveyD) personal survey 27) In a nondisguised survey, a respondent is told the ________.A) actual stores being investigatedB) sponsor of the surveyC) actual intent of the studyD) actual name of the market research company conducting the survey 28) Disguised surveys are typically used to study consumer ________.A) demographicsB) life-stylesC) attitudesD) reactions to price changes 29) The semantic differential technique uses ________.A) demographic dataB) nominal scalesC) ratio scalesD) bipolar adjective scales 30) An appliance retailer is classified by consumers as friendly, reliable, moderately attractive, and as providing a relatively good value for the money. The research technique used by the retailer is ________.A) observationB) a semantic differentialC) experimentationD) an online survey 31) A form of research in which present behavior or the results of past behavior are noted and recorded is ________.A) observationB) surveyC) simulationD) experimentation 32) The major disadvantage of observation is that ________.A) the sampling is not probability-basedB) attitudes cannot be studiedC) the experiment is contrivedD) the respondent knows that he or she is being measured 33) One or more elements of a retail strategy mix are manipulated under controlled conditions in which research technique?A) observationB) simulationC) surveyD) experiment 34) Which research technique is able to show cause and effect?A) surveyB) experimentC) observationD) simulation 35) A mathematical model is constructed to explain the environment facing a retailer in which research technique?A) surveyB) experimentC) observationD) simulation 36) A small movie theater plans to build a coffee and snack bar that features espresso based on the success of a much larger competitor that features six screens. This strategy represents ________.A) systematic researchB) nonsystematic researchC) a retail information systemD) single-source data 37) Which does not represent a systematic method of research?A) pre-testing of a survey to determine potential biases in wordingB) verifying that interviews were actually conducted with selected respondents by use of a telephoneC) use of a nonprobability sample in a legal case involving retail pricingD) removing potential respondents, who have moved prior to a store being renovated, from a store image survey 38) A major characteristic of a retail information system is ________.A) its low costB) the use of competitor dataC) the use of verified data from government sourcesD) its continuous nature 39) A hotel chain found the following profile to exist for its guests: average stay is 2.4 nights, 54 percent had a car with them, 73 percent used an in-room phone for 3 or more calls, 8 percent watched a pay-per-view television program, and 15 percent purchased a snack item from the in-room refrigerator. Which form of marketing research was the retailer utilizing?A) a retail information systemB) an experimentC) simulationD) observation 40) The difference between regular reports and exception reports is based on ________.A) lengthB) the handling of deviations from expected performanceC) costD) types of accounts covered 41) A retailer with 1,000 credit accounts has 50 with balances that are past due for over 45 days. How many accounts would be listed in the exception report?A) 25B) 45C) 50D) The answer cannot be determined based on the information provided. 42) An example of an exception report is ________.A) a report listing customers with overdue credit card balancesB) a quarterly profit-and-loss statementC) an inventory turnover report by merchandise classificationD) an analysis of profitability by merchandise classification 43) A frequent-shopper program is an example of ________.A) electronic data interchangeB) market researchC) data-base managementD) data mining 44) A retailer uses sophisticated software to evaluate large quantities to uncover emerging trends. This illustrates ________.A) data warehousingB) data miningC) experimentationD) simulation 45) The data collection role of retailers in a distribution channel has been facilitated by ________.A) the use of UPC and scannersB) simulation-based studiesC) personal surveysD) observation 46) The Universal Product Code (UPC) is most widely used in conjunction with ________.A) inventory managementB) consumer credit-card purchasesC) merchandise returnsD) accounting recordkeeping 47) An advantage of electronic data interchange (EDI) is ________.A) increased communication between retailers and their suppliersB) increased communication between retailers and their customersC) increased speed of data transmission on sales by employeeD) more accurate data due to the modular nature of the transmission process 48) Paperless communication between a retailer and its suppliers has been facilitated by ________.A) retail information systemsB) UPC-based technology and EDIC) exception reportsD) data-base management 49) The major difference between marketing research in retailing and a retail information system is that ________.A) the retail information system stores dataB) the retail information system is continuousC) marketing research in retailing includes the retail information system processD) marketing research in retailing does not include inventory-related data More Questions are Included…</div></div></div>
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