Adams State University BUS 304 Module 4 Quiz (2015)

| June 4, 2016

Take Test: module 4 quiz

Course Principles of Marketing

Test module 4 quiz

Question 1

1. Megan believes the reason the sales of one of her company’s products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Megan is:

1. developing a hypothesis.

2. defining a problem.

3. collecting data.

4. creating a research design.

2 points

Question 2

1. Companies should not avoid complaining customers because:

1. companies need to admit the faults in their products or services.

2. in most cases, they are looking for something free and can be easily appeased with a coupon or gift card.

3. complaints handled promptly and effectively could lead to greater customer loyalty.

4. a firm’s rank in the JD Power survey could drop.

2 points

Question 3

1. The purpose of conducting market segmentation and market opportunity analysis in the second stage of the market segmentation process is to:

1. design a marketing strategy and tactics to reinforce the firm’s image.

2. determine the level of resources that must be committed to each segment.

3. identify the specific members of each segment and contact each of them directly.

4. produce a forecast of market potential within each segment.

2 points

Question 4

1. Marketing research is most likely to be contracted to an outside firm when the:

1. project is being led by in-house personnel with marketing degrees.

2. outside provider has the latest technology.

3. outside provider can do the work at a lower cost than the firm.

4. problem is well-defined and clearly understood.

2 points

Question 5

1. A marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities is called _____ marketing.

1. frequency

2. internal

3. database

4. affinity

2 points

Question 6

1. In the Roper Starch Worldwide study, the largest segment that values professional and material goals more than other groups is the:

1. fun seekers.

2. strivers.

3. altruists.

4. devouts.

2 points

Question 7

1. Landsdown Dairy is planning to introduce a new flavored milk drink. As the marketing manager, you want to appraise the consumer response to this new product. The procedure typically used would be:

1. trend analysis.

2. test markets.

3. a jury of executive opinion.

4. the Delphi technique.

2 points

Question 8

1. An added bonus of electronic data interchange (EDI) is that, in addition to automating the buying process, it has also opened new channels for gathering marketing information.

1. False

2. True

2 points

Question 9

1. Due to its low cost, the controlled experiment is the most commonly used method of collecting data for marketing research.

1. True

2. False

2 points

Question 10

1. Which of the following federal agencies is the most important source of secondary data for marketing research studies?

1. Federal Reserve

2. Bureau of Labor Statistics

3. Treasury Department

4. Census Bureau

2 points

Question 11

1. The nature of a firm’s organization structure typically has little or no effect on the provision of quality offerings to its customers.

1. True

2. False

2 points

Question 12

1. A population, used for market research purposes, is a subgroup of the total sample selected for analysis.

1. False

2. True

2 points

Question 13

1. To be effective, market segmentation must meet which of the following basic requirements?

1. The firm must avoid focusing on non-variables, such as profitability and volume.

2. The company must expand beyond its marketing capabilities to capture growing markets.

3. The market segment must have measurable purchasing power and size.

4. The market segment must reflect the population’s changing attitudes and lifestyles.

2 points

Question 14

1. All of the following are best utilized as short-run sales forecasting techniques except:

1. the Delphi technique.

2. survey of buyer intentions.

3. sales force composite.

4. jury of executive opinion.

2 points

Question 15

1. _____ marketing is an information-based approach that collects infinite amounts of data that must be mined for specific information about markets and consumers.

1. Frequency

2. Affinity

3. Database

4. Customer service

2 points

Question 16

1. The average lifetime of a customer relationship ultimately depends on the sales representative assigned to handle the account or customer.

1. True

2. False

2 points

Question 17

1. “On the street” interviews conducted by a broadcaster with anyone who passes by are examples of _____ sampling.

1. media

2. convenience

3. cluster

4. stratified

2 points

Question 18

1. The information, analysis, and forecasts accumulated through the entire market segmentation decision process allows management to assess the potential for achieving company goals and to justify committing resources to develop one or more segments.

1. False

2. True

2 points

Question 19

1. Marketers applying a positioning strategy want to:

1. make their product look as much like the market leader as possible.

2. make sure they clearly outline the product’s possible applications.

3. emphasize a product’s unique advantages and differentiate it from competitors’ options.

4. talk to specific, known users of the product.

2 points

Question 20

1. Sales forecasts play a major role in:

1. marketing research.

2. quality control.

3. qualitative techniques.

4. new product decisions.

2 points

Question 21

1. Competitive intelligence is essentially the same thing as business intelligence.

1. True

2. False

2 points

Question 22

1. Douglas Knowles & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone and online interviews. DK&H is a _____ firm.

1. limited service

2. full-service

3. customer service

4. syndicated

2 points

Question 23

1. Observational research has no real benefits in the use of technology to monitor consumers because the consumer cannot be relied on to use the technology correctly.

1. False

2. True

2 points

Question 24

1. Data means nothing unless it can be read somehow. The job of application service providers is to assist marketers in turning the data into meaningful information.

1. False

2. True

2 points

Question 25

1. Internal data collection by marketing researchers is often referred to as situation analysis, while exploratory interviews conducted by informed persons outside the firm are considered informal investigation.

1. True

2. False

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