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Marketing Research and Its Role in Decision Making

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Questions and Answers

What is the primary purpose of personal selling in the promotion mix?

to inform customers about a product

to provide customer service

to gather market research

to persuade customers to buy a product (correct)

What is the main objective of a market leader?

to expand the total market and find new customers (correct)

to introduce new products to compete with others

to reduce product quality to lower costs

to maintain its current market share

What is the purpose of a quantity discount in the price mix?

to reduce prices for seasonal products

to reward loyal customers

to provide cash back to customers

to encourage bulk purchases (correct)

What is the primary function of wholesalers in the distribution channel?

to act as intermediaries between producers and retailers Signup and view all the answers

Which type of segmentation focuses on the opinion, interests, and lifestyles of consumers?

Psycho-graphic Segmentation Signup and view all the answers

What is the main characteristic of a nicher marketing strategy?

concentrating on a select few target markets Signup and view all the answers

What is the primary function of descriptive marketing research?

To gather and present statements of fact Signup and view all the answers

What is the primary function of diagnostic marketing research?

To explain the data gathered Signup and view all the answers

What type of environment includes factors such as legal and political factors, economic factors, and technological factors?

Macro Environment Signup and view all the answers

What is the purpose of market segmentation?

To divide the market into smaller groups that are easier to target Signup and view all the answers