Question 1

Frito-Lay Lemonade is an example of a product extension which likely failed because of poor marketing research information.

Accepted Answer

Frito-Lay is primarily known for salty snacks like chips, so introducing a lemonade product may not have aligned with consumer expectations. Additionally, if Frito-Lay did not conduct thorough marketing research to gauge consumer interest and preferences for a lemonade product, it may have failed to gain traction in the market.

Question 2

Akron's Children's Hospital hired research firm,Marcus Thomas,LLC,to determine the most effective communication messages to use in a new ad campaign being developed by the hospital.This was an effort in:
A)target market selection.
B)product research.
C)pricing research.
D)promotion research.

Accepted Answer

Since the hospital is trying to determine the most effective communication messages to use in a new ad campaign, this is a clear effort in promotion research.

Question 3

Once objective,accurate,and timely information is provided to managers to allow them to implement the correct strategy,there is no future need for information.

Accepted Answer

While the initial information provided may be objective, accurate, and timely, the business environment is constantly evolving and new information will be needed to adjust and refine the strategy over time. Therefore, ongoing access to relevant and reliable information is essential for effective decision making and strategy implementation.

Question 4

Which of the following marketing information system components is NOT continuous?
A)consumer information support system
B)marketing research system
C)internal report system
D)decision support system
E)marketing intelligence system

Accepted Answer

The marketing research system is not continuous, as it typically involves a specific project or set of projects with a defined beginning and end. The other components listed are all continuous, with data and information being gathered and analyzed over time. The consumer information support system tracks customer behavior and preferences, the internal report system monitors internal performance and operations, the decision support system provides ongoing insights for decision making, and the marketing intelligence system continuously collects and analyzes data on the market and competitors.

Question 5

Marketing research is synonymous with market research.

Accepted Answer

Marketing research is broader, encompassing all aspects of marketing, while market research focuses specifically on understanding the market and consumer preferences.

Question 6

Marketing research is the process of designing,gathering,analyzing,and reporting information that may be used to solve a specific marketing problem.

Accepted Answer

Marketing research involves several steps, including designing the research, gathering data, analyzing the data, and reporting the findings. The ultimate goal of marketing research is to help solve a specific problem or challenge faced by a business or organization.

Question 7

A kitchen appliance company has seen domestic markets become saturated over the past decade.Seeking new avenues of growth,in what way can the firm's decision makers use market research to find a sizable international market segment to pursue?
A)target market selection
B)product research
C)distribution research
D)promotion research

Accepted Answer

Market research can help the firm identify which international markets have potential for growth and which segments within those markets are the most likely to be interested in their products. By conducting research on factors such as consumer preferences, purchasing behaviors, and economic conditions, the company's decision makers can make informed decisions about which target markets to pursue. This will enable them to focus their resources on the most promising opportunities and avoid wasting time and money on markets that are unlikely to generate significant returns.

Question 8

The definition of marketing research provided by the American Marketing Association stresses the 11-step process of marketing research.

Accepted Answer

The American Marketing Association defines marketing research as the function that links the consumer, customer, and public to the marketer through information, but it does not specifically stress an 11-step process.

Question 9

Determining the value consumers perceive in new products is a primary objective of:
A)target market selection.
B)product research.
C)pricing research.
D)promotion research.

Accepted Answer

Pricing research aims to understand the value consumers perceive in new products to set optimal prices.

Question 10

It has yet to be proven if social media can effectively serve as a venue for firms to collaborate with consumers.

Accepted Answer

Social media has already been proven to be an effective platform for firms to engage and collaborate with consumers through various successful marketing campaigns, customer service interactions, and community-building efforts.

Question 11

In order to implement the "right" strategy,managers must make many decisions,and they must have objective,accurate,and timely information in order to make these decisions correctly.

Accepted Answer

Managers need objective, accurate, and timely information to make effective decisions, which is essential for implementing the right strategy.

Question 12

When a firm is "consumer -oriented" or "market-driven," it follows the marketing concept business philosophy.

Accepted Answer

The marketing concept philosophy focuses on identifying and satisfying the needs and wants of consumers. Therefore, firms that are consumer-oriented or market-driven are adhering to this philosophy.

Question 13

Marketing research provides information collected only on consumers.Information collected on other entities such as employees,members of distribution channels,or competitors would NOT be considered marketing research.

Accepted Answer

Marketing research can collect information not only on consumers, but also on other entities such as employees, competitors, and members of distribution channels.

Question 14

________ satisfies the need for companies to identify and test new products to replace products which are at the end of their product life cycles.
A)Target market selection
B)Product research
C)Distribution research
D)Promotion research

Accepted Answer

Product research is the process of identifying and testing new products which can be developed and marketed to replace existing products which are no longer popular among consumers. It involves analyzing customer needs and tastes to create new products, testing these products to ensure they are effective, and then launching them into the market to replace older products which have reached the end of their product life cycles. Target market selection, distribution research, and promotion research are other important aspects of the marketing process, but they are not directly related to the need to identify and test new products.

Question 15

Marketing is a part of,or a subcategory of,marketing research.

Accepted Answer

Marketing research is a broader term that encompasses multiple areas including market segmentation, product development, consumer behavior, and advertising, while marketing is the process of promoting and selling products or services. Marketing research provides insights and data for marketing strategies and decision-making, but it is not a subset or subcategory of marketing.

Question 16

Marketing strategy is defined as a planned design to reach the largest portion of the market by leveraging the benefits of both low marketing costs and promotion using the mass media to reach the largest audience.

Accepted Answer

A marketing strategy is a comprehensive plan formulated to achieve specific marketing objectives, which may include targeting specific segments, positioning, and using various marketing mix elements, not just focusing on low costs and mass media.

Question 17

The American Marketing Association's definition of marketing stresses that the function of marketing should be to create sales which generate high profits for the firm.

Accepted Answer

The American Marketing Association's definition of marketing states that it is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The emphasis is on creating value for customers rather than solely focusing on generating high profits for the firm.

Question 18

Understanding the forces which motivate dealers to move greater quantities of product is inherent in the process of:
A)target market selection.
B)product research.
C)distribution research.
D)promotion research.

Accepted Answer

Understanding the forces that motivate dealers to move greater quantities of product is directly related to the distribution research process. This includes researching factors such as dealer incentives, pricing strategies, and supply chain management to determine how best to get products into the hands of consumers. Target market selection, product research, and promotion research may indirectly impact dealer motivation, but they are not directly related to the distribution process.

Question 19

The service-dominant logic for marketing philosophy suggests that marketing decision makers will need less information in the future.

Accepted Answer

The service-dominant logic for marketing philosophy emphasizes the importance of co-creation of value between the customer and the firm. This requires a deep understanding of the customer's needs, preferences, and behaviors, which in turn requires more information, not less. Therefore, marketing decision makers will likely need more information in the future.

Question 20

The purpose of marketing research is to link the consumer to the marketers by providing information that can be used in making marketing decisions.

Accepted Answer

Marketing research provides valuable information about consumers' needs, preferences, and behaviors, which helps marketers make informed decisions about product development, pricing, promotion, and distribution. This link between consumers and marketers is essential for identifying opportunities and creating successful marketing strategies. Therefore, the purpose of marketing research is to bridge the gap between the two parties and facilitate communication and understanding.

Quiz 1: Introduction to Marketing Research