Question 1

Which of the following examples best describes an advance in backstage technology?
A) technology that allows consumers to carry portable music players in their pockets
B) advances in electronics that allow manufacturers to offer 3D television
C) the invention of satellite radio
D) the use of radio frequency identification (RFID) to control inventory and logistics
E) All of the above are examples of advances in backstage technology.

Accepted Answer

The use of RFID technology in controlling inventory and logistics is an example of an advance in backstage technology because it improves the efficiency and organization of production and backstage operations. The other options do not directly relate to backstage technology.

Question 2

Although internal data sources have a number of advantages, one of their biggest problems is:
A) There are rarely enough internal data.
B) Internal data are often not relevant to the marketing issue at hand.
C) Internal data are expensive to collect.
D) Internal data are often in a form that is not readily accessible.
E) Internal data are typically biased.

Accepted Answer

Internal data can be challenging to use because they're usually in formats that aren't easily understood or accessible. In addition, internal data can be challenging to analyze because they may not provide a comprehensive picture of consumer behavior or preferences. This is why data professionals need to be able to cross-talk between departments to ensure data collected are relevant to the marketing issue at hand.

Question 3

As a form of _____ competition, bicycles can solve the same basic need as automobiles, albeit with a very different product.
A) regular
B) generic
C) brand
D) total budget
E) product

Accepted Answer

Generic competition refers to the competition between products that can fulfill the same need or desire, even if they are different types of products, such as bicycles and automobiles for transportation.

Question 4

The collection of strategic activities aimed at marketing an organization, its issues, and its ideals to potential stakeholders is referred to as _____. It typically involves marketing activities that are not directed to the end users of a firm's products.
A) external affairs
B) corporate affairs
C) public relations
D) stakeholder management
E) societal relations

Accepted Answer

The answer of The collection of strategic activities aimed at...

Question 5

What is the main purpose of the Sarbanes-Oxley Act of 2002?
A) to increase the accuracy and reliability of corporate disclosures of financial information
B) to ensure that CEOs are adequately compensated for the risks they face in terms of corporate governance
C) to amend NAFTA to be more favorable to U.S. interests
D) to limit the ability of drug companies to engage in direct-to-consumer advertising
E) to limit the ability of the media to obtain confidential corporate information

Accepted Answer

The Sarbanes-Oxley Act of 2002 was enacted in response to a series of high-profile corporate scandals, such as Enron and WorldCom. Its main purpose is to increase the accuracy and reliability of corporate disclosures of financial information, with the goal of enhancing investor confidence and protecting the interests of shareholders. The act established new standards for public companies, their boards, auditors, and other market participants, and created tougher penalties for accounting fraud and other securities violations.

Question 6

Which of the following statements does not describe a reason why noncustomers do not purchase a firm's products?
A) Noncustomers have low switching costs.
B) Noncustomers perceive that they have lower-priced alternatives.
C) Poor distribution makes the firm's product difficult to find.
D) Noncustomers do not know that the firm's product exists.
E) Noncustomers have a basic need that the firm's product does not fulfill.

Accepted Answer

Low switching costs are usually a reason why current customers may leave for a competitor's product, but it does not explain why noncustomers do not purchase the firm's products.

Question 7

What is perhaps the most important economic reality in the United States over the last 50 years?
A) Real GDP has declined dramatically since the end of World War II.
B) The middle class has been shrinking.
C) Virtually all U.S. citizens have become wealthier.
D) Our economy has shifted to become dominated by intangibles such as services and information.
E) Our economy is still suffering from the very high inflation rates of the 1970s.

Accepted Answer

The answer of What is perhaps the most important economic...

Question 8

Compared to primary data, secondary data have the main advantage of:
A) being up-to-date.
B) having greater relevance to a specific issue.
C) being both internally and externally focused.
D) being dramatically lower in cost.
E) being readily accessible in electronic format.

Accepted Answer

Secondary data are data that have been collected and/or analyzed previously, often for a different purpose. They tend to be much lower in cost than primary data since they are already available to researchers. While primary data may offer greater relevance or up-to-date information, secondary data can still be valuable for research purposes. Additionally, secondary data are often readily accessible in electronic format, which can save time and resources compared to collecting primary data.

Question 9

In the 5W model of customer analysis, what is the primary emphasis of the "What" question?
A) Assessing how customers consume and dispose of products
B) Determining the relevant characteristics that define markets
C) Assessing how purchases vary across different distribution outlets
D) Identifying the basic need-satisfying benefits provided by the firm's products
E) Identifying the situational influences that affect the customer buying process

Accepted Answer

The answer of In the 5W model of customer analysis,...

Question 10

With respect to conducting a situation analysis, which of the following IS NOT one of the four important issues to keep in mind?
A) Analysis alone is not a solution.
B) Data are not the same as information.
C) All bits of data are relevant no matter how minor they may seem.
D) The benefits of analysis must outweigh the costs.
E) Conducting a situation analysis is a challenging exercise.

Accepted Answer

Not all bits of data are relevant, and it is essential to focus on the most critical information needed to make informed decisions. Including irrelevant data can be misleading, time-consuming, and costly. Therefore, it is important to filter out irrelevant data and focus on insightful information.

Question 11

The sheer volume of available information on the economy, population, and business activities is the major strength of most _____ data sources.
A) book and periodical
B) primary
C) commercial
D) internal
E) government

Accepted Answer

Government data sources, such as those provided by the US Census Bureau or the Bureau of Labor Statistics, offer a vast array of information on economic trends, population demographics, and business activity. These data sources are updated regularly and are often free or low-cost, making them a valuable resource for businesses and researchers.

Question 12

Issues such as marketing's position and authority in a firm's hierarchy, the overall market orientation of the firm, and the emphasis on short- or long-term planning are examples of which component of the internal environment?
A) resource availability
B) organizational structure
C) marketing objectives
D) marketing infrastructure
E) marketing strategy

Accepted Answer

These issues relate to the organizational structure within the firm, specifically where marketing fits within the hierarchy and the overall market orientation of the firm. The emphasis on short- or long-term planning also ties into the structure of the organization and how decisions are made. These factors are all part of the internal environment's organizational structure component. Resource availability, marketing objectives, marketing infrastructure, and marketing strategy are separate components of the internal environment.

Question 13

When a firm analyzes its objectives and performance, availability of resources, structural characteristics, and organizational culture, the firm is most likely examining its:
A) internal environment
B) external environment
C) mission statement
D) competitive strategy
E) strategic environment

Accepted Answer

Examining objectives, resources, structure, and culture is an examination of the internal environment of a firm.

Question 14

The growth of the Internet has changed the way that situation analysis is conducted in today's business environment. In terms on situation analysis, which of the following is the most drastic change caused by the Internet?
A) Specific data and information take longer to find.
B) The analyst is more likely to suffer from severe information overload.
C) Data and information are now more relevant to the question at hand.
D) All competitors now have access to the same data and information.
E) There is now no such thing as secrecy in strategic planning.

Accepted Answer

The answer of The growth of the Internet has changed...

Question 15

In the 5W model of customer analysis, what is the primary emphasis of the "Why" question?
A) Identifying the situational influences that affect the customer buying process
B) Assessing how purchases vary across different distribution outlets
C) Determining how the purchase and consumption of one product is related to other products
D) Identifying the basic need-satisfying benefits provided by the firm's products
E) Assessing how customers consume and dispose of products

Accepted Answer

The primary emphasis of the "Why" question in the 5W model of customer analysis is to identify the basic need-satisfying benefits provided by the firm's products. This helps the firm to understand why customers are motivated to buy and use their products.

Question 16

Between now and 2050, _____ will account for a full 90 percent of the growth in the total U.S. population.
A) increasing birth rates
B) immigration from Canada
C) increasing life spans
D) declining death rates
E) minority population growth

Accepted Answer

According to projections by the U.S. Census Bureau, between now and 2050, the minority population (including Black, Hispanic/Latino, Asian, and other non-White populations) will account for 90 percent of the growth in the total U.S. population. This growth will be largely driven by immigration and higher birth rates among minority populations, as well as declining birth rates among White populations.

Question 17

In the competitive sports drink market, Gatorade pays very close attention to the activities of Powerade, a major _____ competitor that markets drinks that are similar in features and benefits.
A) generic
B) direct
C) brand
D) product
E) total budget

Accepted Answer

The answer of In the competitive sports drink market, Gatorade...

Question 18

In many buying situations, customers will buy one product because it complements another product. In these cases of _____ demand, the demand of one product depends on the demand of another product.
A) linked
B) dependent
C) quasi-
D) conjoined
E) derived

Accepted Answer

Derived demand refers to the demand of one product being derived from the demand of another product, as they are complementary to each other. Examples could be the demand for cars and tires, or the demand for printers and ink cartridges. None of the other answer choices are commonly used to describe this type of demand.

Question 19

Which of the following cultural values is not typically associated with American consumers?
A) low tolerance for waiting
B) less focus on "me-oriented" values
C) greater focus on long-term goals
D) concern for the natural environment
E) less tolerance of smoking in public

Accepted Answer

American consumers are generally known for their focus on instant gratification and short-term goals rather than long-term goals. This is reflected in their impatience and desire for quick results in various aspects of life, including shopping and communication.

Question 20

Microsoft is interested in customers' perceptions of Windows 7, its new PC operating system. Since the research goal is rather specific, Microsoft should conduct its own _____ research by asking customers to complete an online questionnaire.
A) secondary
B) primary
C) qualitative
D) observation
E) experimental

Accepted Answer

Primary research involves collecting data directly from the source, in this case customers, to answer specific research questions. Microsoft conducting their own research through an online questionnaire is an example of primary research.

Quiz 4: Collecting and Analyzing Marketing Information

Which of the following examples best describes an advance in backstage technology?

Although internal data sources have a number of advantages, one of their biggest problems is:

As a form of _____ competition, bicycles can solve the same basic need as automobiles, albeit with a very different product.

The collection of strategic activities aimed at marketing an organization, its issues, and its ideals to potential stakeholders is referred to as _____. It typically involves marketing activities that are not directed to the end users of a firm's products.

What is the main purpose of the Sarbanes-Oxley Act of 2002?

Which of the following statements does not describe a reason why noncustomers do not purchase a firm's products?

What is perhaps the most important economic reality in the United States over the last 50 years?

Compared to primary data, secondary data have the main advantage of:

In the 5W model of customer analysis, what is the primary emphasis of the "What" question?

With respect to conducting a situation analysis, which of the following IS NOT one of the four important issues to keep in mind?

The sheer volume of available information on the economy, population, and business activities is the major strength of most _____ data sources.

Issues such as marketing's position and authority in a firm's hierarchy, the overall market orientation of the firm, and the emphasis on short- or long-term planning are examples of which component of the internal environment?

When a firm analyzes its objectives and performance, availability of resources, structural characteristics, and organizational culture, the firm is most likely examining its:

The growth of the Internet has changed the way that situation analysis is conducted in today's business environment. In terms on situation analysis, which of the following is the most drastic change caused by the Internet?

In the 5W model of customer analysis, what is the primary emphasis of the "Why" question?

Between now and 2050, _____ will account for a full 90 percent of the growth in the total U.S. population.

In the competitive sports drink market, Gatorade pays very close attention to the activities of Powerade, a major _____ competitor that markets drinks that are similar in features and benefits.

In many buying situations, customers will buy one product because it complements another product. In these cases of _____ demand, the demand of one product depends on the demand of another product.

Which of the following cultural values is not typically associated with American consumers?

Microsoft is interested in customers' perceptions of Windows 7, its new PC operating system. Since the research goal is rather specific, Microsoft should conduct its own _____ research by asking customers to complete an online questionnaire.