Question 1

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

Accepted Answer

Government data sources often have access to large amounts of information on the economy, population, and business activities, which can be a major strength for those seeking such data.

Question 2

Microsoft is interested in customers' perceptions of Windows 8. 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.

Accepted Answer

Since Microsoft is interested in collecting data directly from customers, the most appropriate research method would be primary research. This can be done by asking customers to complete an online questionnaire, which would gather first-hand data about their perceptions of Windows 8. Secondary research involves analyzing existing data that has already been collected by others, and would not be as useful for this specific research goal. Qualitative, observation, and experimental research could be used in conjunction with a primary research method, but they do not address the specific goal of gathering customer perceptions of Windows 8.

Question 3

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

Accepted Answer

The Sarbanes-Oxley Act of 2002 was passed in response to accounting scandals such as Enron and WorldCom. Its main purpose is to increase the accuracy and reliability of corporate disclosures of financial information in order to protect investors and the public. It establishes new or expanded requirements for public companies and accounting firms, including requirements for corporate governance, auditing, and financial disclosures.

Question 4

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.

Accepted Answer

Derived demand is the correct term used to describe the situation where the demand for one product is dependent on the demand for another product. This often occurs when a product is necessary to create or support another product, or when the two products are used together, making them complementary. The other options are either incorrect or not commonly used to describe this concept.

Question 5

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?

Accepted Answer

Organizational structure deals with issues such as marketing's position and authority in a firm's hierarchy.

Answer: C
 Marketing objectives relate to the overall market orientation of the firm.

Answer: E
 Marketing strategy relates to the emphasis on short- or long-term planning.

Resource availability (A) and marketing infrastructure (D) are not directly related to the issues mentioned in the question.

Question 6

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.

Accepted Answer

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

Question 7

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

Accepted Answer

The statement "All bits of data are relevant no matter how minor they may seem" is not true. It is important to distinguish between relevant and irrelevant data in order to conduct a focused and effective analysis. Only relevant data should be considered.

Question 8

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

Accepted Answer

The use of RFID technology to control inventory and logistics is a clear example of an advance in backstage technology, as it improves efficiency and accuracy in managing resources behind the scenes. Options A, B, and C describe advances in consumer-facing technology, which are not directly related to backstage operations. Option E is incorrect as not all the examples listed can be considered advances in backstage technology.

Question 9

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.

Accepted Answer

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

Question 10

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

Accepted Answer

Internal data sources are often in a form that is not readily accessible, such as being stored in different databases or in various formats. This can make it challenging and time-consuming to collect and analyze the data.

Question 11

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?

Accepted Answer

The Internet provides vast amounts of information, which can lead to information overload for analysts trying to conduct situation analysis.

Question 12

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

Accepted Answer

Noncustomers having low switching costs is not a reason for not purchasing a firm's products; it actually makes it easier for them to switch to the firm's products if they choose to.

Question 13

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

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 question helps in understanding the underlying motivations behind customer purchases and what their needs are.

Question 14

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

Accepted Answer

According to demographic projections, minority population growth, particularly among Hispanic and Asian populations, will account for the majority of population growth in the U.S. over the next few decades, with non-Hispanic white populations experiencing a decline in numbers. This trend is expected to continue until at least 2050, with the minority population projected to reach more than half of the total U.S. population by that time.

Question 15

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

Accepted Answer

American culture values immediate gratification, resulting in a low tolerance for waiting. There is also a growing disconnect with the government among American consumers, and a greater focus on environmental concerns, as evidenced by the decreased tolerance of smoking in public places. While some Americans may prioritize long-term goals, it is not typically considered a defining cultural value.

Question 16

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

Accepted Answer

Our economy has shifted to become dominated by intangibles such as services and information.

Question 17

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

Accepted Answer

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

Question 18

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

Accepted Answer

Secondary data is generally cheaper than primary data because it has already been collected and organized by someone else. This can save time and money for those conducting research, as they do not have to invest resources into gathering and analyzing data on their own.

Question 19

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

Accepted Answer

When a firm analyzes its objectives and performance, availability of resources, structural characteristics, and organizational culture, it is examining its internal environment. The internal environment of a firm includes factors such as its organizational structure, company culture, and resources available to the firm. Examining its internal environment is important for a firm to understand its strengths and weaknesses and to identify areas where it needs improvement.

Question 20

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

Quiz 3: Collecting and Analyzing Marketing Information