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Exam 4: Market Research Essentials

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Question 31

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A restaurant's marketing manager is interested in finding out if reducing the price of food items will lead to increased sales. For this purpose, the manager should conduct ________ research.

A) causal
B) exploratory
C) descriptive
D) secondary
E) longitudinal

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Question 32

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The account manager of a market research firm is conducting secondary research on consumer preferences in energy drinks for his clients. His client's drink is 100 percent organic, but all of the secondary data he has found contains only beverages that contain a majority of artificial ingredients. This scenario illustrates the fact that secondary data ________.

A) can alone provide specific answer to a research problem
B) are more expensive than primary data
C) are always updated and current
D) will not fit the research problem exactly
E) has high validity regardless of the methodology used

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Question 33

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Good market research will ________.

Name and describe the six external forces that affect marketing decisions.

Which of the following is one of the three factors a company needs to consider when creating a market information system?

The marketing manager for Dream Weaver Textiles reads in a trade magazine that the Federal Trade Commission is in the process of revising content labeling requirements for textiles that claim to be natural. In the context of external forces affecting marketing decisions, this represents the ________.

While researching the possible impact of economic conditions on a proposed new product introduction on the Internet, you find an article in Bloomberg Business Week online that reviews how new products have fared during times of rising inflation. Which of the following sources of secondary data does this scenario exemplify?

Jan Smith, the marketing manager of Big Wheel Autos, has noticed that in many European countries more of the population is moving into urban centers. This has resulted in an increased demand for subcompact cars that can maneuver through these congested streets rather than full-size automobiles. In the context of external information sources, this is an example of how ________ can influence marketing management decisions.

Core Market Research is testing how customers react to a proposed advertising campaign for Go Fast Sports Cars. The researchers scan consumers' brains using an fMRI machine while the consumers view a series of advertisements so that they can monitor the blood flow in different areas of the brain. In this case, Core is using ________ for its market research.

Research almost always involves secondary data collection.

Small portable computers, powerful statistical software packages, and Internet-enabled supply chain management systems are all examples of how ________ influences marketing.

Which of the following is NOT a part of the market research process?

Good marketing research looks to develop answers to fit a predecided outcome.

The sales manager at a company wants to keep informed, so he collects, analyzes, and stores data from the macro environment on a continuous basis. This illustrates the concept of ________.

In the context of sampling plan, a comprehensive record of each individual in the population of interest is known as a ________.

Technology companies such as Apple use market research to understand product users' needs and also to understand the competition.

The marketing manager of a firm has hired a market research team. Together, the manager and the researchers decide that they need data from current customers and noncustomers who fit a specific demographic and lifestyle profile. In the context of research design activities, the selection of these individuals as targets for data collection represents the ________.

In the market research process, once the data are collected, coded, and verified, the next step is to ________.

Reasons for conducting exploratory research include ________.

When examining some secondary data from Uzbekistan, the marketing manager of RS Chemicals notices that the income figures seem high even after conversion to U.S. dollars. He later learns that the government agency that collects this information records total household income rather than per capita income as in most other countries. This demonstrates which issue with secondary data in global markets?