Question 1

Concerned by recent negative trends in economic indicators such as the Consumer Price Index, Gross Domestic Product, and Inflation, the marketing manager of Kevin's Kayaks recommends that the company reduce its advertising spending.His recommendation is based on ________ data.

Accepted Answer

The marketing manager's concern is related to macroeconomic indicators such as the CPI, GDP, and inflation, which are used to gauge the overall health of the economy. Therefore, his recommendation is based on macroeconomic data.

Question 2

Hoover's and other similar are good sources of _________ information.

Accepted Answer

Hoover's and similar databases are primarily used for gathering information about competitors, including their financials, market position, and other relevant business data.

Question 3

Jan Smith, the marketing manager of Big Wheel Autos, has noticed that in many European countries more of the population is moving into urban centers.This has resulted in an increased demand for subcompact cars that can maneuver through these tighter quarters rather than full size automobiles.This is an example of how _________ can influence marketing management decisions.

Accepted Answer

The shift in population towards urban centers is a geographic change that is influencing the demand for subcompact cars. This illustrates how geographic changes can impact marketing management decisions.

Question 4

Formal marketing information systems provide quality information that can guide _______ decisions.

Accepted Answer

Formal marketing information systems are designed to provide high-quality information that can assist in making strategic decisions. These systems are typically used by top-level executives and managers in order to guide long-term planning and overall business strategy. Options A, B, C, and D are all incorrect because they refer to decisions that are typically made at lower levels of the organization and do not require the same level of detailed information that a formal marketing information system would provide.

Question 5

Small portable computers, powerful statistical software packages and Internet enabled supply chain management systems are all examples of how _________ influences marketing.

Accepted Answer

The use of small portable computers, powerful statistical software packages and Internet enabled supply chain management systems are all examples of technology influencing marketing.

Question 6

As the marketing manager for ABC Company, you are charged with developing marketing strategies for an area that is composed of a diverse population from a variety of countries.In order to reach this diverse populace you might want to consider efforts that focus on specific ________ when generating strategies.

Accepted Answer

In order to effectively reach a diverse population from a variety of countries, focusing on specific ethnic groups would be the most appropriate strategy. This would involve tailoring marketing efforts to the unique cultural backgrounds and preferences of each group, which could increase the likelihood of engagement and resonance with the target audience. Focusing on income, education, age, or gender may not be as effective in reaching a diverse population with different cultural backgrounds and preferences.

Question 7

________ speaks to the importance of good information in decision-making.

Accepted Answer

Information power refers to the ability to influence others based on the possession and control of valuable information, highlighting the importance of good information in decision-making.

Question 8

John Smith is the CEO of Really Big Corporation and Joe Jones is his sales manager.John requires monthly total sales projections while Joe needs weekly sales figures across product lines.This demonstrates the importance of _____________ in a marketing information system.

Accepted Answer

The scenario highlights the importance of flexibility in a marketing information system. John and Joe have different information needs, one requiring monthly projections and the other requiring weekly figures. A flexible marketing information system can adapt to the varying needs of different users within the organization.

Question 9

The marketing manager of ABC Corporation is interested in ranking customers on the basis of their profitability, so he accesses a database that tells him about the frequency and size of each customer's order along with the actual costs per order.This database is part of the _____ system.

Accepted Answer

The database that provides information about the frequency and size of each customer's order along with the actual costs per order is part of Customer Relationship Management (CRM) system. The marketing manager is interested in ranking customers on the basis of their profitability, which is a task that falls under the purview of CRM.

Question 10

Since there are so many other companies that operate in the food services industry, the marketing manager of Gourmet Dining pays detailed attention to other restaurants that offer similar meals, prices and services are doing.This focus is based on the _________ part of external forces that affect marketing decisions.

Accepted Answer

The competitive part of the external forces comprises competitors that either offer similar products or services or are targeting the same market segment. By paying attention to other restaurants that offer similar meals, prices, and services, Gourmet Dining's marketing manager is keeping an eye on the competition, which falls under the competitive external force.

Question 11

Since they conduct so much research on a continuous basis, McDonald's decided it would be economical to create a(n)__________ marketing research group.

Accepted Answer

Since McDonald's conducts research on a continuous basis, it would be more economical for them to have an internal marketing research group rather than relying on external, freelance, or designer research groups. Additionally, a covert research group would not be ethical or transparent.

Question 12

The marketing manager for Dream Weaver Textiles reads in a trade magazine that the Federal Trade Commission is in the process of revising content labeling requirements for textiles that claim to be natural.This represents the _________ part of external forces that affect marketing decisions.

Accepted Answer

The fact that the Federal Trade Commission is revising content labeling requirements for textiles represents a change in political and legal factors that will affect marketing decisions.

Question 13

As a marketing manager you want to know whether the target market will be receptive to a new advertising campaign._________ is the best way to answer this question.

Accepted Answer

Marketing research is the best way to get information on the target market's receptivity to a new advertising campaign. This can be done through surveys, focus groups, or other forms of data collection to gather feedback directly from the target audience. This method provides valuable insights into customers' attitudes and preferences towards products and services.

Question 14

A marketing manager calls a marketing research firm stating that they are losing sales to competitors.He says his company needs help with the ________ stage of the marketing research process.

Accepted Answer

The marketing manager's statement suggests that they are in need of defining the research problem stage, as they are experiencing a problem with sales loss to competitors. This stage involves identifying the problem, determining research objectives, and developing hypotheses.

Question 15

As the marketing manager of Big Wheel Motors, you notice an increased demand for "green" cars that use less fossil fuel and emit fewer pollutants.The key focus of the consumers that desire these cars is the ________.

Accepted Answer

Consumers interested in "green" cars are primarily focused on the natural world, as these vehicles are designed to reduce environmental impact by using less fossil fuel and emitting fewer pollutants.

Question 16

______ relies on the methodological identification, collection, analysis, and distribution of data in order to discover and solve marketing problems or enhance decision-making.

Accepted Answer

Marketing research is the process of collecting and analyzing data to solve marketing problems or make better decisions. It involves identifying research questions, designing studies, collecting data, analyzing results, and using those results to inform marketing decisions. A marketing information system (C) is a tool that supports decision-making through the ongoing collection, analysis, and dissemination of information relevant to a company's products, customers, competitors, and market environment. Studying (A), investigating (D), and searching (E) are broad terms that may or may not be specifically related to marketing research or decision-making.

Question 17

In order to gather _________, the sales manager at XYZ Company collects, analyzes, and stores data from the macro environment on a continuous basis.

Accepted Answer

Marketing intelligence refers to the continuous monitoring and analysis of data from the macro environment, which includes factors like competitors, economic conditions, and social trends. This data is used to inform strategic decisions and improve overall performance. While sales data, target market information, external resources, and internal projections are all valuable sources of information, they do not specifically refer to the monitoring and analysis of macro environmental factors.

Question 18

The marketing manager for Brand A Razors, a strong national brand, believes he knows how customers will react to a new product offering, but he conducts marketing research in order to provide justification for this new product.This violates the _________ aspect of the definition of marketing research.

Accepted Answer

The marketing manager's belief about customers' reactions shows a lack of impartiality and objectivity, which goes against the "Impartial and objective" aspect of the definition of marketing research. The rest of the aspects (Systematic, Validity, Scientific, Reliability) are not violated in this scenario.

Question 19

The marketing manager for Ned's Bar and Grill notices that his typical customer is a 21-year-old male college student.He is using __________ to define his market.

Accepted Answer

The marketing manager is using demographics to define his market. Demographics include characteristics such as age, gender, and education level, which are commonly used in market segmentation. By identifying his typical customer as a 21-year-old male college student, the marketing manager is using demographic information to tailor his marketing strategies to appeal to that specific group.

Question 20

Apex Jerseys, a manufacturer of sports apparel and sporting equipment, has experienced a sharp drop in sales over the last quarter.The marketing manager is asked the research department to investigate this alarming development.The first step taken by the researchers in their investigation should be to ___________.

Accepted Answer

The first step in investigating the drop in sales should be to formulate a specific research problem. This will help guide the research and ensure that the researchers are focused on the most important aspects of the problem. Once a research problem has been identified, the researchers can then determine the best methods to collect data (such as designing a questionnaire or identifying a sample of customers to survey) and choose appropriate statistical procedures to analyze the data. They may also look for sources of internal secondary data to get a better understanding of the problem.

Quiz 5: Managing Marketing Information