A Framework For Marketing Management - Chapter 3

Front 1

The heart of the internal records system is the ________.

Back 1

order-to-payment cycle

Front 2

The first step of the marketing research process includes defining the problem, decision alternatives, and ________.

Back 2

research objectives

Front 3

Which type of research can shed light on the real nature of the problem?

Back 3

exploratory

Front 4

A focus group is a gathering of how many people?

Back 4

six to ten

Front 5

Marketing researchers have a choice of three main research instruments in collection of primary data: questionnaires, qualitative measures, and ________.

Back 5

mechanical devices

Front 6

The available market is the set of ________.

Back 6

consumers with interest, income, and access to a particular offer

Front 7

A ________ is the sales goal set for a product line, company division or sales representative.

Back 7

sales quota

Front 8

The art of anticipating what buyers are likely to do under a given set of conditions is known as ________.

Back 8

forecasting

Front 9

Society shapes our beliefs, values, and ________.

Back 9

norms

Front 10

Each society contains ________, groups with shared values emerging from their special like experiences or circumstances.

Back 10

subcultures

Front 11

Marketers, more than any other group in a company, must identify and interpret marketplace changes.

Back 11

True

Front 12

A marketing intelligence system supplies results data rather than happenings data.

Back 12

False

Front 13

Effective marketing research involves defining the problem and research objectives, developing the research plan, collecting data, analyzing the information, presenting findings, and making the decision.

Back 13

True

Front 14

Primary data already exists and was collected for another purpose.

Back 14

False

Front 15

Marketing researchers have a choice of three main research instruments for collection of primary data.

Back 15

True

Front 16

The final step of the marketing research process involves the manager who commissioned the research making a marketing decision based on the evidence it presents.

Back 16

True

Front 17

A sales quota is the same as the sales budget.

Back 17

False

Front 18

A trend is a direction or sequence of events that have some momentum and durability.

Back 18

True

Front 19

Technology changes do not have an impact on the changes in market demands.

Back 19

False

Front 20

The consumerist movement is an organized movement of citizens and government to strengthen the rights and powers of buyers in relation to sellers.

Back 20

True

Front 21

A sampling plan is based on three decisions. One of these is sample size, or how many people should be surveyed. How is sample size determined?

Back 21

Large samples give more reliable results than small samples. However, when a credible sampling procedure is used, samples of less than 1 percent of a population can also be reliable.

Front 22

Explain what is meant by total market potential.

Back 22

Total market potential is the maximum number of sales that might be available to all of the firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions. A common way to estimate total market potential is to estimate the potential number of buyers times the average quantity purchased by a buyer times the price.

Front 23

MIS stands for ________.

Back 23

marketing information system

Front 24

The internal records system supplies ________ data, but the marketing intelligence system supplies ________ data.

Back 24

results; happenings

Front 25

Typically, companies budget marketing research at ________ of the company sales.

Back 25

one to two percent

Front 26

The following are steps of the marketing research project EXCEPT ________.
develop the research plan
collect the information
analyze the information
communicate alternatives
present the findings

Back 26

communicate alternatives

Front 27

The most scientifically valid research is _________.

Back 27

experimental research

Front 28

A major use of marketing research is to identify ________.

Back 28

market opportunities

Front 29

Identifying all of the potential buyers in an area and estimating their potential purchases is known as the ________.

Back 29

market-buildup method

Front 30

What percentage of Canadian society has a university degree or diploma?

Back 30

13 percent

Front 31

The deterioration of the natural environment is a major global concern. Which of the four related trends deals with infinite, finite renewable, and finite non-renewable resources?

Back 31

shortage of raw materials

Front 32

Name two major trends that impact developments in the political-legal environment.

Back 32

increase in business legislation; growth of special interest groups

Front 33

The major responsibility for identifying and interpreting changes in the marketplace falls to a company's R&D team.

Back 33

False

Front 34

Marketing managers often commission formal marketing studies of specific problems and opportunities.

Back 34

True

Front 35

An effective marketing research process involves six steps.

Back 35

True

Front 36

The second step in the marketing research process calls for designing an efficient, affordable research plan for gathering the needed information.

Back 36

True

Front 37

Qualitative research techniques are heavily structured numerical measurement approaches.

Back 37

False

Front 38

The information analysis phase of marketing research is generally the most expensive and the most prone to error.

Back 38

False

Front 39

A set of consumers who have interest, income, and access to a particular offer is known as the penetrated market.

Back 39

False

Front 40

Market forecasting shows the expected market demand, not the maximum market demand.

Back 40

True

Front 41

Forecasting is the art of anticipating what buyers are likely to do under a given set of conditions.

Back 41

True

Front 42

Population growth is highest in areas that can least afford it.

Back 42

True

Front 43

How does a marketing intelligence system supply happenings data rather than results data?

Back 43

A marketing intelligence system is used by managers to obtain everyday information about developments in the marketing environment. Sources of this everyday or happenings information include books, newspapers, and trade publications; talking to customers, suppliers, and distributors; checking Internet sources; and meeting with other company managers. This is information that alerts them to new product possibilities and new markets rather than just tracking results of past initiatives.

Front 44

List the research approaches that are available to collect primary data

Back 44

Marketing researchers collect primary data in five ways: through observation, focus groups, surveys, analysis of behavioural data and experiments.