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99 Cards in this Set
- Front
- Back
using sophisticated statistical software to sift through data warehouses looking for new patterns and correlations is called: |
data mining |
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Benefits of data mining include: |
improved prospecting, better market segmentation, increased customer loyalty, and more successful cross and up-selling |
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Secondary data is often where marketing research begins. Secondary data consists of information____. |
that already exists somewhere, having been collected for another purpose |
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This systematic collection and analysis of publicly available information about competitors and developments in the marketing environment is very useful. What is it called? |
marketing intelligence |
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Which is the hardest step in the marketing research process to take? |
defining the problem and research objective |
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Survey research is bet suited for gathering ___ information |
descriptive |
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_____ research is best suited for gathering causal information |
experimental |
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The objective of ___ research is to test hypotheses about cause-and-effect relationships |
causal |
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Your assistant wants to use secondary data exclusively for the current research project. Which of the following is a reason why this may be a poor idea? |
It may not exist and all of the needed data is rarely available |
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What are the advantages of online marketing research |
respondents tend to be more honest, it is more cost efficient, report generation turnaround time is much quicker, and respondents cannot remain anonymous |
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Why would a company choose a sampling of its customers to research rather than all 1,500 of them |
the sample can fairly represent the entire population |
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What is the best advice to give to a beginning market research intern in developing research questionnaire |
use care in the wording and ordering of questions |
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Response rates in surveys are generally higher using ___ contact methods |
personal or online
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Secondary data are ___ |
sometimes not reliable |
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To assist in the development of a new economics textbook that uses the systematic design, collection, analysis, and reporting of relevant data. What are they doing? |
marketing research |
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Companies need information about their: |
customers needs, marketing environment, and competition |
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A good problem definition has certain characteristics. What are they? |
identifies the cause of the problem not its symptoms, identifies alternative courses of action, and identifies information needed to evaluate those options |
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Generating information to better describe marketing problems, situations, or markets |
descriptive research |
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Information collected for the specific purpose at hand |
primary data |
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In survey research the most cost-effective means of contacting sample member is via: |
online |
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If every population member has a known, non-zero chance of selection in a sample and members are chosen by an objective process, this would be a ___ sample |
probability |
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Gathering preliminary information that will help define the problem and suggest hypotheses is called: |
exploratory research |
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If every population members' chances of being selected in a sample are unknown and members are chosen by some subjective process, this would a ___ sample |
non-probability |
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Dividing the actual number of respondents to a survey by the number of respondents targeted for the survey is called the: |
response rate |
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Researchers want maximum response rates to help reduce non-response error. One thing that usually helps but is beyond researcher influence is: |
respondent interest |
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In addition to defining the problems and research objectives, collective relevant data, developing and reporting the findings, and using the information, the marketing research process includes ____ |
developing the research plan |
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What is wrong with the question, "Do you fly Southwest Airlines regularly?" |
ambiguous question |
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A scale that is comprised of a series of statements, each of which gives a possible characteristics about the subject, and followed by a range of agreement choices is a ____ scale |
Likert scale |
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A scale that uses a series of bi-polar opposite descriptors about a subject is a ___ scale |
Semantic differential scale |
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Focus group interviewing is a major marketing research toll often used to gain insight into consumer thoughts and feelings. It is weak as a decision tool because the sample size is small and may be difficult to ____ |
generalize from the results |
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Numbers that can only be used for identifying characteristics are ___ numbers |
nominal |
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Number that can identify and rank order things are ___ numbers |
ordinal |
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Numbers that can identify, rank with equal distance but have no absolute zero are ___ numbers |
interval |
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Numbers that can identify, rank with equal distance and have an absolute zero are ____ numbers |
ratio |
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The final step in the marketing research process involves |
making action recommendations, implementing action recommendations, and evaluate actions taken |
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A good problem definition results in ___ and ____ |
lower cost and greater value |
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Generally the least expensive way to enter a foreign country is through____ |
exporting |
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Rather than using the same or a modified product in international markets, a firm may instead do product_____ |
adaptation |
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____ occurs when a domestic organization uses a third party to find foreign markets |
indirect exporting |
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Firms from partnerships with foreign markets through various types of a ___ ___ |
joint venturing |
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When firms enter foreign markets the two basic options are ____ or _____ of their market offering |
standardization or adaptation |
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Generally the most costly and riskiest way to enter foreign markets is through ___ _____ |
direct investment |
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In choosing between greater standardization or greater adaptation, firms need to be knowledgable about ____ |
cultural differences |
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One form of joint ventures is to do ___ |
management contracting |
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Entering foreign markets with an emphasis on using the same domestic produce and promotion is called a ____ |
product extension |
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If a firm producing a domestic product uses its marketing team to begin finding buyers in foreign markets, the firm would be engaged in ___ |
direct exporting |
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A firm may partner with a firm in foreign country to begin ____ |
contract manufacturing |
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If a firm keeps the same product but modifies its promotion in different countries, it would be doing ___ |
product adaptation |
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Selling intellectual property to another company is called ___ |
licensing |
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When a domestic firms and a foreign firm together establish a third company to conduct business, they would be involved in a ____ |
joint ownership |
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Firms that modify both their products and promotion messages in foreign countries that would be following a ____ |
dual adaptation strategy |
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Keeping a standard promotional message but altering the product in foreign countries that would be using a ___ |
adapted promotion strategy |
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Identifying different groups of buyers in the market is called: |
segmentation |
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Identifying which market segment a firm can serve best and most profitable is called market: |
targeting |
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Identifying possible competitive advantages, choosing the right competitive advantage, selecting an overall positioning strategy and effectively communicating and delivering the right position are all part of: |
positioning |
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Making a product different from those of competitors is: |
differentiation |
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One reason why market segmentation has become increasingly important is because of: |
more varied customers |
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The most popular basis for segmenting markets is to use: |
demographics |
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A "natural" form of segmentation is called ____ segmentation since different buyers often buy a product for different reasons |
benefit |
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One characteristic that market segments should have to be viable segments is that they are __ |
measurable |
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Selecting to appeal to one target market and ignoring others is called ___ marketing |
concentrated |
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The most costly approach to markets is to practice market: |
differentiated |
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Changing the mental picture of a brand in the marketplace is called: |
repositioning |
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Offering "more for less" is one possible ____ |
value proposition |
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The basic need being satisfied by a product exists at the ___ |
core product level |
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A group of related product items constitute a ___ |
product line |
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Consumers are only willing to expend a minimal amount of effort to obtain _____ |
convenience products |
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If consumers perceive minimal brand differences and want to compare brands based almost exclusively on price, these would be ___ |
homogeneous shopping goods |
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___ is critical for convenience products |
intensive distribution |
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Exclusive distribution is most appropriate for ___ |
specialty goods |
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Only about __% of new products are really new in the way we normally use the word "new" |
10% |
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New products that require the greatest amount of consumer learning and behavior change to use them would be considered ____ innovations |
discontinuos |
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The ____arises from the conflict between the need and the cost/risk of developing new products |
new product dilemma |
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Common reasons for the high failure rate of new consumer products once launched in the market include: |
overestimation of market size, incorrect positioning, and high development costs. |
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Both internal and external sources may help in ____ |
idea generation |
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The first "weed-out" of new product ideas occurs during the ____ and evaluation stage of new product development |
idea screening |
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The product development stage of new product development usually requires a huge jump in ___ |
investment |
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The type of test market that generally has the best predictability of future actual market behavior is a ___ |
standard test market |
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Commercialization often requires a market ___ |
rollout plan |
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Services cannot be stored so no __ can be held |
inventory |
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A service rendered and the service provider are ___ from each other |
inseparable |
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Gaining awareness and trial is an objective of the ___ stage of the PLC |
introduction |
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Real product differences are most noticeable in the __ stage of the PLC |
growth |
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From a marketing perspective, the most critical group in gaining market acceptance is the ___ |
early adopters |
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a ___ is a means of distinguishing products sold by different sellers |
brand |
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When CofC sells and apparel maker the right to put the name and logo on a t-shirt, that right is called ___ |
license |
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The intangible value of a brand beyond its asset value is ___ |
brand equity |
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Nowadays, beyond protecting and containing a product, packaging must help ___ the product |
market |
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Defending market share is an objective of the ___ stage of the PLC |
maturity |
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During the ___ stage of the PLC, marketing support is reduced |
decline |
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In the adoption process, individuals go through, awareness, interest, ___, trial and adoption |
evaluation |
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A member of the first group to adopt a new product would be an __ |
innovator |
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The group most resistant to change are called ___ |
laggards |
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Relative advantage, ___, complexity, divisibility, and communicability are all product characteristics that influence that speed of adoption |
compatability |
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A __ gives a brand legal protection |
trademark |
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The part of a bran that can be vocalized is the ___ |
brand name |
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Using an existing brand name for a product is ___ |
brand extension |
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Using a new brand name for a product added to an existing product line is called ___ |
multibranding |
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A written statement of a seller's liabilities is ___ |
an express warranty |