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Questions and Answers
What is a technique used to obtain primary data?
What is a technique used to obtain primary data?
What is a step in the marketing research process?
What is a step in the marketing research process?
Enrollment at Rockwell Community College has been in decline for five years. In the past, the college has relied strictly on enrollment from newly graduated high school students. To identify other potential markets, the school would benefit from
Enrollment at Rockwell Community College has been in decline for five years. In the past, the college has relied strictly on enrollment from newly graduated high school students. To identify other potential markets, the school would benefit from
________ is the process of identifying factors that can affect marketing success.
________ is the process of identifying factors that can affect marketing success.
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One of the social trends that marketers must monitor to maintain their close relationship with customers is the
One of the social trends that marketers must monitor to maintain their close relationship with customers is the
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The two major types of markets are the
The two major types of markets are the
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What term identifies individuals that want goods and services for personal consumption and have the resources to buy them?
What term identifies individuals that want goods and services for personal consumption and have the resources to buy them?
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The factor that determines whether a product is classified as a consumer product or an industrial product is
The factor that determines whether a product is classified as a consumer product or an industrial product is
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What refers to the process of dividing the total market into several groups with similar characteristics?
What refers to the process of dividing the total market into several groups with similar characteristics?
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A firm that uses _______ segmentation divides a market into groups based on values, attitudes, or interests.
A firm that uses _______ segmentation divides a market into groups based on values, attitudes, or interests.
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Successful marketing researchers will
Successful marketing researchers will
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Moriah, a marketing manager for lighting products manufacturer, will likely be involved in
Moriah, a marketing manager for lighting products manufacturer, will likely be involved in
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Comparing the business practices of the last 30 years to today indicates that today's marketing managers
Comparing the business practices of the last 30 years to today indicates that today's marketing managers
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________ is 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.
________ is 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.
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A ________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations.
A ________ orientation refers to the process of determining the wants and needs of buyers and then providing goods and services to meet or exceed their expectations.
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While the four Ps help us remember the basics components of the _________, they don't reveal all the components in the marketing process
While the four Ps help us remember the basics components of the _________, they don't reveal all the components in the marketing process
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________ marketing involves developing a unique mix of goods and services for each individual customer.
________ marketing involves developing a unique mix of goods and services for each individual customer.
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Firms that have adopted ________ seek to do more than simply sell a product; they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.
Firms that have adopted ________ seek to do more than simply sell a product; they seek to learn as much as possible about their customers in order to satisfy them with goods and services over time.
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What identifies a process in which marketers present an accurate description of a new product to potential customers and ask if they find the idea appealing?
What identifies a process in which marketers present an accurate description of a new product to potential customers and ask if they find the idea appealing?
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The first step in the marketing research process is to
The first step in the marketing research process is to
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What would be considered part of a firm's marketing mix?
What would be considered part of a firm's marketing mix?
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The last step in the marketing process often includes
The last step in the marketing process often includes
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The marketing concept is based on three elements: a customer orientation, a service orientation, a _______ orientation.
The marketing concept is based on three elements: a customer orientation, a service orientation, a _______ orientation.
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A key element of customer relationship management is to
A key element of customer relationship management is to
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Which marketing era refers to the time period from our country's first settlers through the early 1900s?
Which marketing era refers to the time period from our country's first settlers through the early 1900s?
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When consumers calculate the value of a product, they
When consumers calculate the value of a product, they
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The best way for a firm to compete in the marketplace is to
The best way for a firm to compete in the marketplace is to
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Restaurants, like other businesses, often find that the best way to succeed in the market is to
Restaurants, like other businesses, often find that the best way to succeed in the market is to
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The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a ________
The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a ________
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When people consider purchasing a good, they
When people consider purchasing a good, they
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The purpose of ________ is to create real or perceived product differences.
The purpose of ________ is to create real or perceived product differences.
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Location is very important in the marketing of ________ because consumers want to purchase these goods with a minimum of shopping effort.
Location is very important in the marketing of ________ because consumers want to purchase these goods with a minimum of shopping effort.
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Which products do consumers buy after comparing quality, price, and style from a variety of sellers?
Which products do consumers buy after comparing quality, price, and style from a variety of sellers?
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________ goods appeal to consumers who are willing to make an extra shopping effort to acquire them.
________ goods appeal to consumers who are willing to make an extra shopping effort to acquire them.
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________ goods and services represent those products that consumers are unaware of or haven't thought of buying.
________ goods and services represent those products that consumers are unaware of or haven't thought of buying.
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The best product development strategy for most firms is to
The best product development strategy for most firms is to
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In marketing today, packaging carries the added responsibility of
In marketing today, packaging carries the added responsibility of
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From the buyer's perspective, what is a benefit of a product with a well-known brand name?
From the buyer's perspective, what is a benefit of a product with a well-known brand name?
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Textbook publishers use a packaging strategy known as ________. Often the publisher will combine complementary products for a single price such as a new textbook and an access code for online software that students can use to test themselves on new concepts and principles.
Textbook publishers use a packaging strategy known as ________. Often the publisher will combine complementary products for a single price such as a new textbook and an access code for online software that students can use to test themselves on new concepts and principles.
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A square paint can with a screw top lid is an example of how
A square paint can with a screw top lid is an example of how
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Sterling Industries makes pasta, paper goods, and adhesives. These different types of products are referred to as Sterling's
Sterling Industries makes pasta, paper goods, and adhesives. These different types of products are referred to as Sterling's
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What term refers to a group of products offered by a firm that are physically similar or are intended for a similar market?
What term refers to a group of products offered by a firm that are physically similar or are intended for a similar market?
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In evaluating colleges, students and parents are likely to judge a school
In evaluating colleges, students and parents are likely to judge a school
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The trend away from personal salespeople to self-service in many retail outlets has caused firms to
The trend away from personal salespeople to self-service in many retail outlets has caused firms to
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Study Notes
Introduction to Business Quizzes (Chapters 13-18)
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Multiple Choice Questions: Questions cover marketing research techniques, the marketing process, environmental scanning, and various types of markets.
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Chapter 13 Quiz: Focuses on techniques to collect primary data, steps in the marketing research process, and the significance of marketing research in enrollment decline scenarios.
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Chapter 13 Question 1: Obtaining primary data involves methods like personal interviews or surveys. Review existing published government reports is not a form of primary data collection.
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Chapter 13 Question 2: Planning for product modifications and test advertising are part of the marketing research process.
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Chapter 13 Question 3: Marketing research is most beneficial for institutions like colleges with declining enrollment. Methods like test marketing are important for identifying markets .
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Chapter 13 Question 4: Environmental scanning is the process of identifying factors that affect marketing success.
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Chapter 13 Question 5: Trends like the increasing number of older Americans or those who work remotely are important factors for marketers to consider.
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Chapter 13 Question 6: The two major market types are primary and secondary markets.
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Chapter 14 Quiz: Highlights the value of products to consumers and best strategies for firms to compete in the market.
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Chapter 14 Question 1: Consumers consider benefits and value, comparing these to price, when evaluating a product.
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Chapter 14 Question 2: Firms effectively compete by offering products that provide high value.
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Chapter 15 Quiz: Examines marketing intermediaries, their roles, and the different types.
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Chapter 15 Question 1: Jobbers, wholesalers, retailers, or other intermediaries are involved in selling goods or services, but not ultimate consumers.
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Chapter 15 Question 2: Retail markets sell to ultimate consumers in contrast to wholesalers who sell to other organizations.
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Chapter 15 Question 3: Those who help goods and services move from producers to consumers are called marketing intermediaries.
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Chapter 15 Question 4: Channels of distribution include various intermediaries involved in transporting and storing goods.
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Chapter 16 Quiz: Explores the different components of a promotional campaign and the importance of integrated marketing communication.
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Chapter 16 Question 1: Integrated marketing communication brings together various elements of promotion like ads, PR, direct mail etc.
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Chapter 16 Question 2: Promotional campaigns start by identifying target markets and objectives.
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Chapter 16 Question 3: A firm's traditional promotion methods include advertising, public relations, personal selling, and sales promotion.
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Chapter 16 Question 4: Advertising is any paid, nonpersonal form of communication, delivered through various media.
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Chapter 16 Question 5: The total expenditure on advertising in the US varies but is a significant part of the business ecosystem.
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Chapter 16 Question 6: Trade advertising is used to promote products to wholesalers and retailers.
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Chapter 16 Question 8: Trade advertising promotes products specifically to intermediaries (wholesalers and retailers).
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Chapter 17 Quiz: Highlights the core functions of accounting in a business setting and distinguishing accounting from other fields.
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Chapter 17 Question 1: Accounting is different from other functions like marketing in that it focuses on recording, analysing, interpreting data in terms of numbers
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Chapter 17 Question 2: Accounting information is used by several groups within and without a business organization.
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Chapter 17 Question 3: Financial transactions and records are examples of accounting's function in a firm.
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Chapter 18 Quiz (Short Answers): Review questions about the accounting cycle, its components, and how one examines accounting records for potential issues within a firm.
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Chapter 13 (Short Answers): Question about marketing tricks used in class, and the parts of the marketing concept from slides.
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Chapter 14 (Short Answers): Review questions from the documentary (discussed in class), and the name of guest speaker and presentation.
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Chapter 15 (Short Answers): Recall types of marketing intermediaries noted in class.
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Chapter 16 (Short Answers): Questions regarding the traditional promotional mix and types of advertising observed in class.
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Chapter 17 (Short Answers): Review questions from guest speaker about small business finance.
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Short Answer Summary: The short answer study questions from each chapter generally focus on recalling details from the lectures.
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Description
Test your knowledge on marketing research techniques and the marketing process through multiple choice questions covering chapters 13 to 18. This quiz specifically focuses on methods to gather primary data, the importance of market analysis, and environmental scanning. Challenge yourself to understand the key elements that influence marketing strategies in various markets.
