Final

Marketing research
_____ refers to the procedures that develop and analyze new information about a market.
A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.
marketing information system
A complete marketing information system:
is organized to continually gather data from internal and external sources, including market research studies.
Setting up a marketing information system can be valuable to marketing managers because
most companies have much useful information, but it often isn’t available or accessible when the manager needs it.
What is the first step in the marketing research process?
Defining the problem
Which of the following statements about the marketing research process is NOT TRUE?
Defining the problem is important because this decision will remain unchanged throughout the process.
Data that has already been collected or published is:
secondary data.
Which of the following statements concerning secondary data is correct?
Secondary data was originally collected for some other purpose.
The marketing manager at Massimino & McCarthy, a chain of retail stores that sells men’s clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?
Looking through the company’s marketing information system to see past sales trends.
Observation
____ is an example of a primary data source.
The two basic methods for obtaining primary information about customers are
questioning and observing.
Qualitative research, compared to quantitative research:
Relies on open-ended questioning.
The big advantage of qualitative research in marketing is:
the in-depth responses it provides.
When focus group interviews are used in marketing,
the research conclusions will vary depending on who watches the interview whether online or off-line.
Marketing research which seeks structured responses that can be summarized is called:
quantitative research.
Wizard Toy Company’s marketing researcher conducted a survey to find out the percentage of customers who, after receiving a promotional mailing about a new toy, actually went out and purchased the product. This is an example of
quantitative research.
A marketing researcher wants to get sensitive information about family spending patterns as part of a survey. He is most likely to get the needed information
with a mail, e-mail, or online survey.
The percent of people contacted in a survey who complete a questionnaire is the:
qualitative rate.
sample rate.
population rate.
response rate.
none of the above.
response rate.
A marketing researcher wants to do a survey to probe in-depth consumer attitudes about their experiences with the company’s products. He is LEAST likely to get what he wants if he uses:
a mail survey.
Which of the following is usually the most expensive way to collect data from consumers?
Personal interviews
Darrell Everwine read a review about a new computer program that appealed to him very much. He decided to try to find the program. However, the new program was in short supply–although other brands with similar features were available. Darrell had to try seven shops before he finally found the program in stock. For Darrell, this program achieved brand:
insistence.
A “product” is best described as:
A need satisfying offering of a firm.
From a marketing perspective, product quality primarily depends on,
the customer’s specific requirements and needs.
A product assortment is:
the set of all product lines and individual products that a firm sells.
Services, as opposed to physical products:
Are usually sold first, and then produced.
Which of the following is NOT one of the text’s business product classes?
Specialty products
Which of the following would NOT be favorable to successful branding?
Product quality fluctuates due to variations in raw materials
Product class is based on the type of __________________ __________________.
final customer
______________ means potential customers insist on a firm’s branded product and are willing to search for it.
Brand insistence
Which of the following is true regarding shopping products?
Price is less important in the purchase of heterogeneous shopping products than homogeneous shopping products.
Compared to heterogeneous shopping products, homogeneous shopping products are usually more standardized.
Buyers usually expect more sales help or service with heterogeneous shopping products.
All of the above are true.
Having a competitive price is likely to
be more important for a homogeneous shopping product than for a specialty product.
Which of the following orderings suggests the amount of effort (from little to much) that consumers are willing to spend in searching for the “right” product?
Convenience products, homogeneous shopping products, specialty products
During a heavy rainstorm, Louie Hirasawa stepped into a drugstore and bought an umbrella–just like the one he had at home–for $15.00 plus tax. In this case, the umbrella is:
an emergency product.
Packaging
can serve as a useful enhancement tool.
can increase costs to the consumer.
can serve as a useful promotional tool.
is concerned with protecting the product in shipping and on the shelf.
All of the above are true.
Regarding business products:
The demand for business products is derived from the demand for consumer products.
“Derived demand” is best illustrated by the demand for:
brick because of increasing demand for new homes.
Ross Wrigley refuses to buy Billy Goat brand of beer, his attitude toward this brand is called _____.
brand rejection
The value of a brand to its current owner or to a firm that wants to buy it is called
brand equity.
Boatwright College gives manufacturers of clothing and gift items permission to place the college’s name and emblem on a wide variety of merchandise. In return, Boatwright is paid a fee for granting this permission. In this case, the Boatwright name and logo is a:

Boatwright College gives manufacturers of clothing and gift items permission to place the college’s name and emblem on a wide variety of merchandise. In return, Boatwright is paid a fee for granting this permission. In this case, the Boatwright name and logo is a:

Licensed brand.
The text’s consumer product classes are based upon:
the way people think about and shop for products.
A producer using several competing channels to distribute its products to its target market is using ______________ distribution.
multichannel
In which of the following distribution channels is the firm most likely to maintain control of the marketing mix?
Direct
Yakima Valley Produce, Inc. buys artichokes from many small farmers, assembles them into larger quantities, and ships in carload quantities to a central market where they are sold to large food processors. This “regrouping activity” is called:
accumulating.
“Discrepancies of quantity” means:
the difference between the quantity of products it is economical for an individual producer to make and the quantity normally wanted by individual consumers or users.
Which of the following is true of selective distribution?
It is selling through only those intermediaries who will give the product special attention.
The “regrouping activity” which involves breaking carload or truckload shipments into smaller quantities as products get closer to final customers is called:
bulk-breaking.
When an online intermediary like Hulu scans thousands of hours of programming each week and groups these programs into categories of digital programs (e.g. sports, crime, etc.), this is an example of:
Sorting
Raymond Weil, a European manufacturer of premium watches, is trying to compete in the U. S. market with other fine watch brands. Its corporate website contains the following notice: “RAYMOND WEIL products are sold by official dealers only. The RAYMOND WEIL International Guarantee is offered exclusively to consumers in possession of a watch purchased from an official dealer….” In the United States, Raymond Weil watches are not available in every jewelry or department store. For example, in large cities such as Boston, Washington, D.C., and San Francisco, there are only three retailers in each city that are official Raymond Weil dealers. Raymond Weil seems to be using:
Exclusive distribution.
Quiet Drive Mufflers are sold only through Car Parts Now retailers. This retailer has only one store in any given geographic area to minimize competition between stores. Quiet Drive Mufflers uses _____ distribution.
exclusive
______________ (as a way to enter foreign markets) means selling the right to use some process, trademark, patent, or other right for a fee.
Licensing
Intensive distribution is often very appropriate for:
convenience products and business supplies.
Selling products manufactured in the United States to foreign customers–often without any product changes–is called:
exporting.
Which of the following best illustrates “discrepancies of quantity”?
Michelin made millions of tires last year–but most customers bought only one set.
A channel of distribution:
is any series of firms or individuals who participate in the flow of goods and services from producer to final user or consumer.
Which of the following statements about Place is true?
Place decisions are usually harder to change than other marketing mix decisions.
Intermediaries in indirect channels of distribution:
Often perform functions that producers cannot perform efficiently by themselves.
Channels of distribution:
should be designed to increase discrepancies of quantity between producers and consumers.
Intensive distribution is
selling a product through all responsible and suitable wholesalers or retailers who will stock or sell the product.
Intensive distribution at the retail level would probably be most appropriate for:
Batteries
Selling through only one wholesaler or retailer in a particular geographic area is called:
Exclusive distribution
Which of the following is NOT relevant regarding why some consumers prefer one retailer over another?
Convenience.
Shopping atmosphere.
Assortment carried.
Service.
All of the above can be relevant.
A _________ aims at a carefully defined target market by offering a unique product assortment, knowledgeable salesclerks, and better service.
specialty shop
Manufacturers’ agents usually work for:
several manufacturers of noncompeting lines.
Sierra Plumbing, Inc. buys plumbing supplies, pipes, and tools from different manufacturers and resells them to construction companies. Sierra is MOST LIKELY:
a service (merchant) wholesaler.
A “supercenter”:
is concerned with providing all of the customer’s routine needs at a low price.
A wholesaler that carries only health foods instead of a full line of groceries is a
specialty wholesaler.
Regarding retailing, which of the following statements is NOT true?
Single-line mass-merchandisers have not been successful–probably because their assortments are so limited.
A limited-line store is to a single-line store as
a tennis shop is to a sporting goods store.
A full-service wholesaler in Santa Fe takes title to the products it stocks–a full line of home repair products for independent hardware stores. This wholesaler is a:
single-line wholesaler.
Regarding retailer store size, it is true that:
almost 70 percent of all retail sales are made by the largest stores–those with annual sales over $5 million a year.
___________ stores are usually strong in customer services, including credit, merchandise return, delivery, and sales help.
Department
Supercenters are also known as
hypermarkets.
Regarding wholesalers, which of the following types has the LOWEST operating expenses as a percent of sales?
Agent wholesalers
Regarding supermarkets, which of the following is NOT true?
After-tax profits are very good–averaging 10 to 15 percent of sales.
Sandi Barefoot sells the entire output of several small companies based in Silicon Valley. Each of the companies designs and produces remote control devices. Sandi has almost complete control of pricing and selling–because the engineers who started the companies are mainly interested in inventing things. In addition, Sandi often provides working capital to the producers, who have very limited financial resources. Sandi is paid a substantial commission on all sales. Sandi is a:
selling agent.
A producer has a few territories where many big customers are concentrated, but most of its target customers are spread all over the country.
The company should use sales branches in the concentrated territories and manufacturers’ agents in the others–assuming the concentrated territories are large enough to support sales branches.
_________ covers all of the activities involved in the sale of products to final consumers.
Retailing
The main difference between retailing and wholesaling is that:
Wholesaling involves selling mainly to other merchants and business customers, but retailing involves selling mainly to final consumers.
A typical problem for limited-line retailers is that:
many of the items they carry are slow moving.
The “mass-merchandising” concept:
focuses on increasing sales and speeding turnover by lowering prices.