Question 1

Secondary research is carried out indirectly, through existing resources.

Accepted Answer

A) True 
 B)False

Question 2

Marketing is ________.

Accepted Answer

A)  Satisfying customers at a profit 
B)  The business function that identifies customers 
C)  The business function that identifies customer needs 
D)  The business function that identifies customer wants 
E)  All of the above 
A)  Satisfying customers at a profit 
B)  The business function that identifies customers 
C)  The business function that identifies customer needs 
D)  The business function that identifies customer wants 
E)  All of the above

Question 3

Secret shoppers are part of the tracking primary research category.

Accepted Answer

A) True 
 B)False

Question 4

In doing secondary research, there are several choices to help you. Among these are ________.

Accepted Answer

A)  Magazine articles 
B)  Internet research 
C)  Business library 
D)  Books 
E)  All of the above 
A)  Magazine articles 
B)  Internet research 
C)  Business library 
D)  Books 
E)  All of the above

Question 5

Marketing is an isolated business function.

Accepted Answer

A) True 
 B)False

Question 6

Research carried out indirectly through other existing resources is called ________.

Accepted Answer

A)  Secondary research 
B)  Tributary research 
C)  Ancillary research 
D)  Literature analysis 
E)  Primary research 
A)  Secondary research 
B)  Tributary research 
C)  Ancillary research 
D)  Literature analysis 
E)  Primary research

Question 7

A market is identified by attitudinal, behavioral, demographic, and other characteristics.

Accepted Answer

A) True 
 B)False

Question 8

An entrepreneur's market is ________.

Accepted Answer

A)  The building where his or her business is located 
B)  A three-square-block area surrounding his or her location 
C)  His or her business's promotional activities 
D)  The group of people who are current and possible future customers 
E)  All of the above 
A)  The building where his or her business is located 
B)  A three-square-block area surrounding his or her location 
C)  His or her business's promotional activities 
D)  The group of people who are current and possible future customers 
E)  All of the above

Question 9

The methods to use for industry research do not overlap with those for customer research.

Accepted Answer

A) True 
 B)False

Question 10

________ ask(s) people directly through interviews or questionnaires about their perceptions of a product or service.

Accepted Answer

A)  Surveys and focus groups 
B)  Secondary research methods 
C)  Industry research 
D)  General research 
E)  Statistical research 
A)  Surveys and focus groups 
B)  Secondary research methods 
C)  Industry research 
D)  General research 
E)  Statistical research

Question 11

Marketing is the business function that identifies customers and their needs and wants.

Accepted Answer

A) True 
 B)False

Question 12

What is a focus group?

Accepted Answer

A)  A method of market research that focuses on how the industry is performing 
B)  A method of market research that involves collecting statistics about a group of people who might use a product 
C)  A method of market research that involves bringing together some people who might use a product and having a researcher question them about it 
D)  A method of market research that focuses on competitor strengths 
E)  All of the above 
A)  A method of market research that focuses on how the industry is performing 
B)  A method of market research that involves collecting statistics about a group of people who might use a product 
C)  A method of market research that involves bringing together some people who might use a product and having a researcher question them about it 
D)  A method of market research that focuses on competitor strengths 
E)  All of the above

Question 13

Consumers who have a similar response to a certain type of marketing can be classified as a ________.

Accepted Answer

A)  Market segment 
B)  Market 
C)  Market section 
D)  Market part 
E)  Market division 
A)  Market segment 
B)  Market 
C)  Market section 
D)  Market part 
E)  Market division

Question 14

Psychographic analysis and behavioral analyses are examples of methods of ________.

Accepted Answer

A)  Market segmentation 
B)  Marketing 
C)  Market research 
D)  Market study 
E)  Market investigation 
A)  Market segmentation 
B)  Marketing 
C)  Market research 
D)  Market study 
E)  Market investigation

Question 15

By teaching customers how to use its products, Home Depot is helping customers see the ________ of its products.

Accepted Answer

A)  Benefits 
B)  Features 
C)  Ramifications 
D)  Structure 
E)  Qualities 
A)  Benefits 
B)  Features 
C)  Ramifications 
D)  Structure 
E)  Qualities

Question 16

Primary research is conducted directly on a subject or subjects.

Accepted Answer

A) True 
 B)False

Question 17

The product life cycle phases include ________.

Accepted Answer

A)  Growth 
B)  Maturity 
C)  Introduction 
D)  Decline 
E)  All of the above 
A)  Growth 
B)  Maturity 
C)  Introduction 
D)  Decline 
E)  All of the above

Question 18

Which of the following aspects of a product/service is the most important to focus on when selling?

Accepted Answer

A)  Benefits 
B)  Features 
C)  Price 
D)  Friendliness 
E)  Closing the deal 
A)  Benefits 
B)  Features 
C)  Price 
D)  Friendliness 
E)  Closing the deal

Question 19

Market research can help you get a fix on who your customers are by determining ________.

Accepted Answer

A)  What kind of income they earn 
B)  What benefit your product or service offers that would best or most attract them 
C)  How old they are 
D)  Where they live 
E)  All of the above 
A)  What kind of income they earn 
B)  What benefit your product or service offers that would best or most attract them 
C)  How old they are 
D)  Where they live 
E)  All of the above

Question 20

Dividing the market by purchase behaviors that have been observed is ________ segmentation.

Accepted Answer

A)  Behavioral 
B)  Psychographic 
C)  Demographic 
D)  Geographic 
E)  All of the above 
A)  Behavioral 
B)  Psychographic 
C)  Demographic 
D)  Geographic 
E)  All of the above

Exam 6: Exploring Your Market

Secondary research is carried out indirectly, through existing resources.

Marketing is ________.

Secret shoppers are part of the tracking primary research category.

In doing secondary research, there are several choices to help you. Among these are ________.

Marketing is an isolated business function.

Research carried out indirectly through other existing resources is called ________.

A market is identified by attitudinal, behavioral, demographic, and other characteristics.

An entrepreneur's market is ________.

The methods to use for industry research do not overlap with those for customer research.

________ ask(s) people directly through interviews or questionnaires about their perceptions of a product or service.

Marketing is the business function that identifies customers and their needs and wants.

What is a focus group?

Consumers who have a similar response to a certain type of marketing can be classified as a ________.

Psychographic analysis and behavioral analyses are examples of methods of ________.

By teaching customers how to use its products, Home Depot is helping customers see the ________ of its products.

Primary research is conducted directly on a subject or subjects.

The product life cycle phases include ________.

Which of the following aspects of a product/service is the most important to focus on when selling?

Market research can help you get a fix on who your customers are by determining ________.

Dividing the market by purchase behaviors that have been observed is ________ segmentation.

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Creating Business From Opportunity

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, Fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, Equity, or Both

Addressing Legal Issues and Managing Risk

Operating for Success

Location, Facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, Licensing, and Harvesting: Cashing in Your Brand

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