Question 1

Marketing professors at colleges and universities and other not-for- profit organizations,such as the Marketing Science Institute,often conduct applied research and publish their results in journals such as the Journal of Marketing Research or the Journal of Marketing.

Accepted Answer

The answer of Marketing professors at colleges and universities and...

Question 2

Some product failures are a result of being brought to market without any research,which increased the probability of failure.

Accepted Answer

Product failures are often due to a lack of market research which results in bringing an unsuccessful product to the market.

Question 3

When a revolutionary new product is created,marketers use pricing research to determine the"value"consumers perceive in the new product.

Accepted Answer

Pricing research is commonly used by marketers to understand how consumers perceive the value of a new product. This helps them to set the appropriate price point that will be attractive to consumers and also helps them to determine how much profit they will make on each sale.

Question 4

Consumers now have more power to speak to others in the marketplace because of globalization,online shopping,and social media.

Accepted Answer

Globalization has made products and services more accessible to consumers, online shopping has given consumers more options and convenience, and social media has provided a platform for consumers to share their experiences and opinions about products and services. All of these factors have empowered consumers to have a greater voice in the marketplace.

Question 5

The research firm MSR Group conducted a rolling tracking study measuring drivers of bank customer satisfaction.The nationwide study allows banks to identify factors that determine advocates and loyal,at-risk,and critical customer relationships.This is an example of monitoring marketing performance.

Accepted Answer

The study conducted by MSR Group is an example of monitoring marketing performance as it measures drivers of bank customer satisfaction to identify factors that determine customer relationships.

Question 6

Marketers who want to know how effective expenditures are for advertising,sales force,publicity/PR,and promotional offers use product research.

Accepted Answer

Marketers use marketing effectiveness research to measure the impact of advertising, sales force, publicity/PR, and promotional offers, not product research. Product research focuses on understanding product features, design, and consumer needs.

Question 7

Marketers think of"actions"as strategies,and strategies involve selecting a target market and designing a marketing mix to satisfy the wants and needs of that target market.

Accepted Answer

This statement accurately describes how marketers approach developing marketing strategies. Actions, or tactics, are the specific steps taken to execute a strategy, which is developed based on selecting a target market and designing a marketing mix that meets their needs and preferences.

Question 8

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

Accepted Answer

The answer of Linking the consumer to the marketers by...

Question 9

Testing as a part of product research may begin with business case development and continues with idea generation that allows firms to quickly and inexpensively get consumers' reactions to the idea of a proposed new product.

Accepted Answer

The answer of Testing as a part of product research...

Question 10

Some marketing research studies are designed to find out what consumers' problems are and to assess the suitability of different proposed methods of resolving those problems.

Accepted Answer

This statement is true. Some marketing research studies are indeed designed to identify consumer problems and evaluate potential solutions. This type of research helps companies understand their target audience's needs and preferences, and can help inform product development, marketing strategies, and other business decisions.

Question 11

Some people define market research as a subset of marketing research,using this term to refer to applying marketing research to a specific market area.

Accepted Answer

Market research can be seen as a specific application of marketing research that focuses on understanding a particular market, such as a geographic region, industry, or consumer segment. Therefore, some people may use the term "market research" to refer to this subcategory of marketing research.

Question 12

Management information systems typically have subsystems to provide the information necessary for a functional area within an organization.Such subsystems are the accounting information system,financial information system,production information system,human resources information system,and marketing information system.

Accepted Answer

The statement is true. Management information systems typically have subsystems for various functional areas within an organization, including accounting, finance, production, human resources, and marketing.

Question 13

Only information collected on consumers is considered marketing research.Research collected on other groups or topics such as distribution channels,competitors,pricing,or products is not considered marketing research.

Accepted Answer

Research collected on other groups or topics such as distribution channels, competitors, pricing, or products is also considered marketing research. It is a misconception that marketing research only focuses on consumers.

Question 14

Marketing research can also be used to refine and evaluate a potential marketing action such as strategies,campaigns,programs,or tactics.

Accepted Answer

The answer of Marketing research can also be used to...

Question 15

Consumers wanted increasingly large TV screens to hang on their walls,so Samsung developed an ultra-thin,LED,large-screen TV.This is an example of using market research to identify market opportunities and problems.

Accepted Answer

This statement describes how Samsung used market research to identify a market opportunity (increasing consumer demand for large TV screens to hang on walls) and develop a product (an ultra-thin, LED, large-screen TV) that meets that need.

Question 16

Distribution research would be used by companies who want to know the best channels to get their product to consumers;the location of the best dealers for their product,or how to evaluate the service the dealer provides.

Accepted Answer

Distribution research helps companies to identify the most effective distribution channels, locate high-performing dealers, and assess the quality of dealer services, making it an essential tool for companies seeking to improve their distribution strategies.

Question 17

For the most part,marketing research firms are conducting applied research to solve a specific problem facing a company.

Accepted Answer

Marketing research firms are typically hired by companies to conduct research that will help them solve a specific problem or make strategic decisions about their products, services, or marketing efforts. This type of research is often referred to as applied research because it is focused on solving a practical problem rather than advancing theoretical knowledge.

Question 18

Most market research is conducted to determine market opportunities rather than determining the size of various market segments.

Accepted Answer

Market research can be conducted for various reasons such as determining market size, segmenting the market, identifying customer needs and preferences, analyzing the competition, and exploring new opportunities. Determining market opportunities is just one of the many objectives of market research, and not the only objective. Therefore, the statement is false.

Question 19

The three uses are(1)identifying market opportunities(2)generating and refining potential market actions,and(3)monitoring marketing performance.

Accepted Answer

The answer of The three uses are(1)identifying market opportunities(2)generating and...

Question 20

Marketing research is defined as a process that reports information that can be used to solve a marketing problem,such as determining price or identifying the most effective advertising media.

Accepted Answer

The definition of marketing research is accurate and therefore the statement is true.

Quiz 1: Introduction to Marketing Research