Exam 1: Introduction to Marketing Research

Allison is the CEO of a large consumer products company. She asks the marketing research department to gather information to help her determine target markets having the most potential from among several market segments. She also asks the research department to give her an assessment as to the best product, price, distribution, and promotion to appeal to the various market segments. Allison is collecting information to help her implement a:

The marketing research system gathers information for a specific situation facing the company, and it is unlikely that the other components of an MIS have the information needed for the specific situation.

Coca-Cola Blak is a huge success because it gives consumers a "two for one" benefit: they can have coffee and their soda at the same time.

Marketing researchers may be certified and the certification is called the Professional Researchers Certification (PRC).

A definition of marketing strategy is: a planned design to reach the largest portion of the market by leveraging the benefits of both low marketing costs and promotion using the mass media to reach the largest audience.

Which of the following is the best statement reflecting the purpose of marketing research?

Rachel would like to create a new department within her firm. She wishes that her firm could provide information that will help link consumers outside the firm to individuals in the firm. The individuals inside the firm would make decisions used to identify marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and perhaps improve the understanding of marketing as a process. Rachel should name this department:

A marketing information system 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.

In order to develop the "right strategy" to succeed in business, managers must make the right decisions; and in order to make the right decisions, they must have objective, accurate, and timely:

In their book, Counterintuitive Marketing, Clancy and Kreig argue that many failures may be attributed to managers making:

In order to implement the "right" strategy, managers must make many decisions, and they must have objective, accurate, and timely information in order to make these decisions correctly.

Once objective, accurate, and timely information is provided to managers to allow them to implement the correct strategy, there is no future need for information.

A marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper:

Which of the following best illustrates one of the uses of marketing research, monitoring marketing performance?

The definition of marketing research provided by the American Marketing Association stresses the 11-step process of marketing research.

Tim, a marketing manager disagreed with other company managers. Tim believed that the company should not just try to make a better product or try to sell more of the product. Tim believed that the company should try to identify and satisfy consumer wants and needs. Tim's philosophy may best be described as:

Marketing research is synonymous with market research.

The key reason that the marketing concept has been recognized as the "right philosophy" is that it:

Which of the following is the best definition of marketing research? Marketing research is:

We can classify marketing research studies according to: