Uses of Marketing Research Quiz

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What type of research involves tracking data collected at point-of-sale terminals as consumer packages goods are scanned in grocery stores, mass-merchandisers, and convenience stores?

Promotion research

Monitoring marketing performance research (correct)

Distribution research

Tracking media effectiveness research

Which type of research focuses on evaluating the effectiveness of different media for promotion?

Market potential evaluation research

Distribution research

Tracking media effectiveness research

Promotion research (correct)

What is the main focus of distribution research?

Measuring the impact of advertising on sales

Evaluating the effectiveness of different media

Tracking social media engagement

Finding the best channels to get products to consumers and evaluating dealer service (correct)

Which type of research involves tracking social media and employee and customer satisfaction levels?

Monitoring marketing performance research Signup and view all the answers

What does promotion research aim to evaluate?

The effectiveness of different media for promotion Signup and view all the answers

What is the primary benefit of globalization, online shopping, and social media for consumers?

Access to more choices, information, and market power Signup and view all the answers

When is marketing research conducted to determine the size of various market segments?

To select target markets and assess their growth or decline Signup and view all the answers

What is the purpose of marketing research when problems are not easily identified despite the presence of symptoms?

To determine the cause of symptoms through research Signup and view all the answers

What does significant market segment growth indicate according to the text?

Identifiable needs within that segment Signup and view all the answers

Why is a great deal of marketing research conducted to determine the size of various market segments?

To identify the growth or decline of segments and select target markets Signup and view all the answers

What is the key philosophy of the marketing concept?

Being more effective than competitors in creating, delivering, and communicating customer value Signup and view all the answers

What does a marketing strategy consist of?

Selecting a target market and designing the proper mix of product/service, price, promotion, and distribution system Signup and view all the answers

What is the primary purpose of marketing research?

To solve specific marketing problems Signup and view all the answers

Why is it important to understand the wants and needs of each market segment?

To design products/services that meet consumer needs Signup and view all the answers

What does a marketing strategy aim to do?

Meet the wants and needs of the consumers within the target market Signup and view all the answers

What is the main purpose of marketing research?

To collect, analyze, and interpret information for making sound business decisions Signup and view all the answers

Which of the following decisions is NOT influenced by marketing research?

Selecting the colors and designs for packaging Signup and view all the answers

What distinguishes marketing research from market research?

Marketing research is used to link consumers to marketers, while market research is used to make sound business decisions Signup and view all the answers

In what way does marketing research link the consumer to the marketer?

By providing information for making marketing decisions and managing the business successfully Signup and view all the answers

What is a key challenge that businesses must address through marketing research in a continuously changing world economy?

Anticipating what changes in the world economy will mean for their markets Signup and view all the answers

What has given consumers more power in the market than ever before?

Globalization, online shopping, and social media Signup and view all the answers

What is the purpose of some marketing research studies according to the text?

To find out consumers' problems and assess different proposed solutions Signup and view all the answers

What does a significant segment of the market with identifiable needs indicate?

The segment is growing Signup and view all the answers

What does a great deal of marketing research aim to determine about various market segments?

The size and growth of the segments, and how well competitors are fulfilling their wants and needs Signup and view all the answers

What has sometimes caused difficulties in identifying market problems even when symptoms are present?

Determining the cause of symptoms requires research Signup and view all the answers

What is the purpose of concept tests in product research?

To quickly and inexpensively get consumers' reactions to the concept of a proposed new product Signup and view all the answers

Why do marketers use research to determine the 'value' consumers perceive in a new product?

To determine the needs of a specific market segment Signup and view all the answers

What does pricing research aim to achieve for a revolutionary new product?

Determine the 'value' consumers perceive in the new product Signup and view all the answers

What is the lesson of the product life cycle according to the text?

Products will eventually become obsolete Signup and view all the answers

Why is a segment an ideal market to focus on according to the text?

Because its needs are either not being met or are being met poorly by competition Signup and view all the answers

What must a company determine in order to focus on an ideal market segment?

How well its core competencies will allow it to satisfy the segment's demand Signup and view all the answers

What is the lesson learned from the product life cycle?

Products will eventually become obsolete Signup and view all the answers

What type of research allows firms to quickly and inexpensively get consumers' reactions to a proposed new product?

Concept tests Signup and view all the answers

What do marketers use research for when a revolutionary new product is created?

To determine the 'value' consumers perceive in the new product Signup and view all the answers

What type of research involves asking potential buyers a series of open-ended questions?

Qualitative research Signup and view all the answers

Why do companies conduct research on proposed brand names and package designs?

To ensure consumer acceptance before commercialization Signup and view all the answers

What must companies have in place to identify and test new products?

A process to identify and test new products Signup and view all the answers

What makes a segment an ideal market to focus on?

If its needs are not being met or are being met poorly by competition Signup and view all the answers

When should a company use qualitative research to ask potential buyers open-ended questions?

When they want quick and inexpensive feedback from consumers Signup and view all the answers

Why do marketers need to determine the 'value' consumers perceive in a new product?

To understand how consumers view the product and its benefits Signup and view all the answers