Which of the following is a short definition of marketing?
Meeting business-to-business wants profitably
Meeting wants profitably
Meeting needs profitably
Meeting consumer demands profitably
meeting needs profitably
Modern marketing thought holds that firms should
Collaborate with and learn from customers
When firms make the right decisions, they produce products and services that their target markets perceive as having value. That value translates into
Sales, profits, and a positive ROI.
What is the definition of marketing research
The process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem
According to the American Marketing Association (AMA), what is the function of marketing research?
To link the consumer to the marketer
According to the American Marketing Association, which of the following is the primary use of marketing research?
To identify and define marketing opportunities and problems
The purpose of market research is best described by which of the following statements?
To link the consumer to the marketer by providing information that can be used in making marketing decisions
Marketing research can also be used to do which of the following?
Generate, refine, and evaluate a potential marketing action
High gasoline prices and concerns about fossil emissions bothered consumers, so Toyota developed the Prius. This is an example of what use of marketing research?
Identifying marketing opportunities and problems
Improving our understanding of ________ entails conducting research to expand our knowledge of marketing.
the marketing process
A ________ is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers
marketing information system
The first known application of marketing research to a business marketing/advertising problem was conducted by
An advertising agency
is the person recognized as the "Father of Marketing Research." He is given credit for conducting the first continuous and organized market research
Charles Coolidge Parlin
In medium-size and smaller firms, the responsibilities of those in the market research department are primarily
Helping others in the firm know when to do research and in finding the right supplier firm to help conduct marketing research
One of the most important emerging trends for client-side marketing research departments is
Increasing use of do-it-yourself research
Full-service supplier firms
Have the ability to conduct the entire marketing research project
The fastest-growing regions of the world for marketing research are
Africa and the Middle East
In the 1990s, ________ brought about significant change, with online panels becoming a primary source of data
electronic surveys
Marketing researchers not only need to be skilled at gathering and analyzing data, but also at communicating results effectively because of
The multiple new types of data and methods now in use
What does "sugging" refer to?
Selling under the guise of a survey
Under what circumstance is there an exemption under the Do Not Call Registry?
Calling U.S. citizens for survey purposes
IBIS World predicts that the number of employees in the marketing research industry will
See jobs expand annually through 2020 with a corresponding increase in wages
The marketing research process contains multiple steps. The first step of the process is
Establishing the need for marketing research
The term "research design" refers to the research approach used to meet the research objectives. Three widely recognized research designs are
Exploratory, descriptive, and causal
Companies find and identify opportunities in varying ways. Which of the following does NOT represent a proactive way of finding and identifying opportunities?
Having an opportunity fall into the company's lap
The tasks that ultimately lead to establishing research objectives begin when a problem or opportunity is recognized, but there is not enough information to know how to respond. T/F?
true
The research objective should not define how the construct being evaluated is measured. T/F?
false
What is the pre-designation of some quantity of a measured attribute or characteristic that must be achieved for a predetermined action to take place?
Action standard
Once the problem definition and research objectives development process have been formulated, it may be useful to determine action standards. T/F?
true
Action standards entail making important decisions before data collection, but also
Set clear guidelines for action after data collection.
It is critical that the proposal ________ to be sure that the client and the research firm are in agreement about the goals of the projects
very clearly defines the problem and states the research objectives
The alternative term to "Request for Proposal" is "Requirement to Bid." T/F?
False; Invitation to Bid (ITB)
Managers often are aware of the need to work closely with the researcher, and this eases difficulties in identifying the real problem. T/F?
False
What is the definition of marketing?
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
What are some characteristics of marketing concept?
need to be better than their competitors in several aspects, customer oriented & market driven, they understand what a customer wants, what they need, and how their service is handled
What is the definition of marketing concept?
a business philosophy that holds that the key to achieving organizational goals consists of the company's being more effective than competitors in creating, delivering, and communicating customer value to its chosen target markets
What is the book definition of marketing research?
the process of designing, gathering, analyzing, and reporting information that may be used to solve a specific marketing problem
What is the definition of marketing strategy?
consists of selecting a segment of the market as the company's target market and designing the proper "mix" of the product/service, price, promotion, and distribution system to meet the wants and needs of the consumers within the target market
What is the AMA definition of marketing research?
The function that links the consumer, customer, and public to the marketer through information
What is marketing research done for?
Information is used to identify and define marketing opportunities and problems
What is the difference between marketing research and market research?
marketing research: helps to make a decision
Market research: helps to identify smaller groups
What is the definition of Market Research?
a process to define the size, location, and/or makeup the market for a product or service
What is the definition of marketing research links?
the consumer to marketer by providing information that can be used in making marketing decisions (b2b or b2c)
what is an example of a B2B sale?
What is an example of a B2C sale?
B2B: computer company selling computers to ISU
B2C: potato chips from a gas station
What are the 3 uses of marketing research?
identify marketing opportunities and problems, Generate, refine, and evaluate potential marketing actions (ex: determining whether or not it's time to give a pepsi can a new look), and monitor marketing performance (how did it go)
What does "generate, refine, and evaluate potential marketing actions" do for a company?
Helps to select target markets, collect product research, collect pricing research, collect promotion research, and how and where to distribute.
What does identifying marketing opportunities and problems do for a company?
Some marketing research studies are designed to find out what consumer's problems are and to assess the suitability of different proposed methods of resolving those problems
What does monitoring marketing performance do for a company?
Tracking data such as what a customer buys or what they like on social media is how a company knows which consumers their product or service will be appealing to.
What are the 2 types of research used in marketing research?
basic research & applied research
When is basic research conducted?
is conducted to expand our knowledge rather than to solve a specific problem
When is applied research conducted?
is conducted to solve specific problems
Is marketing research always right?
no
What is the definition for Marketing Information System (MIS)?
is a structure consisting of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers
What are the 4 components of an MIS?
internal reports system, marketing intelligence system, marketing decision support system (DSS), and marketing research system
What does internal reports systems do?
provides information about a specific product
What does marketing intelligence systems do?
gathers info on actual marketing procedures
What does marketing decision support system (DSS) do?
tools to make a decision
What does a marketing research system do?
it gathers information for a specific situation--not gathered by the other MIS component subsystem
marketing research projects are not continuous--they have a beginning and an end
The research design is a ________ that specifies the methods that will be used to collect and analyze the information needed for a research project.
master plan
The reason to justify the significance placed on research design includes:
Research designs are important because clients often decide to fund research if they find the design is pleasing to the eye.
The choice of the most appropriate design depends largely on the objectives, the budget, and client preferences associated with the research t/f?
false
________ should only be used when the researcher knows a fair amount about the problem
Causal research
Ray Kroc, the milkshake machine salesman who created McDonald's, observed that restaurants in San Bernardino, California, run by the McDonald brothers were so busy they burned up more milkshake machines than any of his other customers. Kroc took that obse
true
Exploratory research does not allow the researcher to investigate whatever sources he or she identifies to gain an understanding of the problem at hand t/f?
false
Tracking studies are studies that involve the monitoring of the same variables of interest, such as market share or unit sales, over time. These types of studies are an example of:
Longitudinal studies
When conducting ________, "if-then" statements become a researcher's way of manipulating variables of interest
causal research
Prior to important elections, many sample surveys ask likely voters: "If the election were held today, which candidate would you vote for?" This type of sample survey represents a cross-sectional study t/f?
true
When the ratio of negative to positive comments on social media about the new Diet Pepsi was worse than is usually found with new products, PepsiCo conducted causal research to understand their consumers' behavior t/f?
true
The disadvantages of test marketing are infallibility, cost, exposure of the product or service to competition, and ethical issues. t/f?
false
The umbrella term ________ is information that is available from more sources than ever before-from government statistics to sensor data to tracking studies
big data
Which of the following is NOT an example of secondary data?
Data from a custom survey
Micromarketing employs a differentiated marketing mix for specific customer segments, sometimes fine-tuned for the individual shopper. T/F?
True
There are several distinct advantages of using secondary data. Which is NOT an advantage?
Secondary data may be obtained in any form desired.
If two or more independent organizations report the same data, researchers should have less confidence in the validity and reliability of the data and should double-check the source. T/F?
false
The 2010 U.S. Census departed from tradition and only collected data using the short form, which asks only for name, sex, age, date of birth, race, ethnicity, relationship, and housing tenure. T/F?
True
firms providing specialized routine information needed by a given industry in the form of ready-to-use packaged data to subscribing firms are
syndicated data firms
Manufacturers interested in prevailing attitudes about pollution and government regulation would be an application of what type of research?
packaged information research
Nielsen tracking studies are _______ that monitor a variable such as sales or market share over time.
longitudinal studies
Tracking studies are longitudinal studies that monitor a variable such as sales or market share over time. T/F?
true