Question 1

The criteria that should be used to determine if a product is in direct competition with yours include:

Accepted Answer

The criteria for determining if a product is in direct competition with yours include geographic proximity (where the product is sold in relation to yours), price (how the cost compares to your product), and substitutability (whether customers can use the product in place of yours). These factors help assess if another product is targeting the same customer base and fulfilling the same needs as your product.

Question 2

Customer research should focus on two customer groups:

Accepted Answer

Customer research should focus on existing and prospective customers to understand current satisfaction levels and potential market opportunities.

Question 3

External information flows through:

Accepted Answer

External information flows through competitors and suppliers, local, state, and national agencies, and distribution channels, encompassing all the options provided.

Question 4

The best known data service that tracks customer trends is:

Accepted Answer

CREST is a well-known data service that tracks customer trends, particularly in the foodservice industry.

Question 5

Proprietary research is:

Accepted Answer

Proprietary research is specifically conducted for an organization's own use, meaning the findings are intended for the internal use of the organization that commissioned the research. This contrasts with research meant for public or external use.

Question 6

In addition to the criteria mentioned in the chapter, is important to include__________in your competitive analysis.

Accepted Answer

The answer of In addition to the criteria mentioned in...

Question 7

Which of the following is not true about research design?

Accepted Answer

Research design is crucial for the validity, reliability, and overall success of a research project. It guides the research process from start to finish, ensuring that the study is well-structured and that the results are meaningful. Therefore, stating that it might be the least important part of all the research is not true.

Question 8

Market Intelligence includes:

Accepted Answer

Market Intelligence encompasses a broad range of activities, including the assessment of new marketing opportunities, analysis of the economic environment and customer profiling, as well as pre-testing new products and measuring the impact of marketing plans.

Question 9

Which of the following is an example of a population?

Accepted Answer

The answer of Which of the following is an example...

Question 10

Which of the following can provide information about travel agencies, reservation systems, and credit card systems?

Accepted Answer

The answer of Which of the following can provide information...

Question 11

Environmental scanning is used to:

Accepted Answer

Environmental scanning is a process used to gather, analyze, and interpret information about the external environment, including trends and events, to forecast the future and make strategic decisions.

Question 12

Reliability in research refers to:

Accepted Answer

Reliability in research refers to the consistency of a measurement, meaning that the same results should be obtained if the measurement is repeated under the same conditions over time.

Question 13

The most common form of qualitative research is:

Accepted Answer

Focus groups are a type of qualitative research that involves gathering a small group of people to discuss a particular topic.

Question 14

A good information system should encompass all of the following except:

Accepted Answer

A good information system should provide relevant, accurate, and timely information tailored to the needs of its users, rather than an overwhelming and unmanageable volume of data. Therefore, it should not necessarily aim to be a massive set of all-inclusive data, as this can hinder decision-making processes.

Question 15

How many steps are there in the marketing information system program?

Accepted Answer

The answer of How many steps are there in the...

Question 16

Property Research includes:

Accepted Answer

Property research encompasses both tangible features, such as the physical attributes and characteristics of the property, and intangible features, such as location desirability, legal rights, and zoning laws.

Question 17

A focus group should have a skilled moderator:

Accepted Answer

A skilled moderator is essential to avoid bias and ensure the focus group is effective, making both A and C correct.

Question 18

What is the first step in developing a marketing information system?

Accepted Answer

The first step in developing a marketing information system is to define goals. This involves understanding what information is needed and for what purpose, setting objectives for the information system to achieve.

Question 19

. Restaurant and foodservices firms use research to determine all of the following except:

Accepted Answer

Research in restaurant and foodservices is typically aimed at improving customer satisfaction, sales, and operational efficiency, rather than being used directly to determine the termination of employees. Choices B, C, D, and E are common areas of focus for research to enhance business performance and customer experience.

Question 20

Quantitative Research is:

Accepted Answer

Quantitative research involves collecting numerical data that can be projected to the entire population, allowing for statistical analysis and generalization of results.

Quiz 11: Differentiation, Segmentation and Target Marketing