Question 1

___________ and ____________ are questioning methods that involve contact with respondents.

Accepted Answer

The answer of ___________ and ____________ are questioning methods that...

Question 2

Oliver figured if people were willing to pay for bottled water, they would also be willing to pay for bottled air.Oliver has forgotten that customers will buy only if they have:

Accepted Answer

Customers will only buy a product if they have unsatisfied needs, meaning they are looking to fulfill a specific want or desire. While Oliver's idea of bottled air may seem novel, it is unlikely that most customers have a pressing need for it, and therefore may not be willing to pay for it.

Question 3

The basic instrument used to guide the researcher and the respondent when surveys are taken is known as a:

Accepted Answer

A questionnaire is a document or instrument containing a set of questions designed to gather information from individuals. It serves as a basis for guiding the researcher and the respondent during a survey. It helps to standardize the questions and ensures that all respondents are asked the same questions in a consistent manner.

Question 4

Nadia has completed her market research but now feels overwhelmed by the large amount of data.It might be helpful to her to:

Accepted Answer

Using a program like Excel can help Nadia organize and analyze her data more efficiently, allowing her to identify patterns and draw conclusions. This will help her make more informed decisions for her business. PowerPoint may be useful for presenting the data, but it does not help with organizing or analyzing it. Hiring a consultant or working with college students may be helpful, but it will also involve additional time and resources.

Question 5

Which source of data would be the least helpful for secondary data use?

Accepted Answer

Blogs may not always be reliable sources of information as they can be written by anyone and may not be fact-checked or peer-reviewed.

Question 6

Mary, owner of Delany Salsas, is curious to know whether the new packaging for her line of salsas is being noticed by supermarket consumers.To collect information, she passively watches shopper reactions as they pass by the Delany Salsas display.Mary is collecting ____ data through ____ methods.

Accepted Answer

Mary is collecting primary data because she is directly observing shopper reactions. She is using observational methods because she is not asking shoppers any questions, but rather watching their behavior.

Question 7

The risk of being the lower-cost producer of a good or service is:

Accepted Answer

Being the lower-cost producer of a good or service is desirable for businesses as it allows them to offer lower prices to customers and potentially gain a larger market share. However, the risk is that customers may switch to a competitor who offers an even lower price, leading to loss of market share and revenue. Therefore, the correct answer is D, customers will abandon your business when someone else offers a lower price.

Question 8

The section of the marketing plan which describes the entrepreneur's approach to creating customer awareness of the product or service is the:

Accepted Answer

The promotion section is specifically focused on creating customer awareness of the product or service through advertising, personal selling, sales promotion, and public relations.

Question 9

The _____ method is probably the oldest form of research in existence.

Accepted Answer

Observational research involves observing and recording data about human behavior and interactions in their natural setting. This type of research has likely been used for thousands of years by scholars and philosophers to make observations about the world around them.

Question 10

A ____ is defined as a group of customers or potential customers who have purchasing power and unsatisfied needs.

Accepted Answer

The answer of A ____ is defined as a group...

Question 11

Nolan was just about ready to begin his market research when an unknown rival launched a similar product in the market.Nolan's best course of action would be:

Accepted Answer

The answer of Nolan was just about ready to begin...

Question 12

In order to be appropriately considered a market, a group of customers or potential customers must have:

Accepted Answer

Purchasing power is necessary for customers to be able to buy a product or service in the market. Without purchasing power, the customers cannot create demand for the product. Market power refers to the ability of a customer or a group of customers to influence the price or availability of a product or service, which may not necessarily be present in every market. Satisfied needs and correlated needs are not necessary conditions for a group of customers to be considered a market.

Question 13

To determine credit card average purchases, managers of Component City Stereo and Appliances reviewed credit card sales receipts from the previous three months.Managers are conducting marketing research by collecting and analysing:

Accepted Answer

The managers are using existing sales receipts, which are considered secondary data because they were originally collected for a different purpose (recording sales) and are now being used for research.

Question 14

Caution is advised when relying on blogs for secondary data because:

Accepted Answer

Blogs are often written by individuals who may not have the same standards for accuracy and fact-checking as more official sources of information. Therefore, caution is advised when relying on them for secondary data.

Question 15

Techniques used to collect primary data are often classified as ____ and ____ methods.

Accepted Answer

Primary data can be collected through observational methods (such as watching behavior or recording events) or questioning methods (such as conducting surveys or interviews). Choice A (internal/external) is not a commonly used classification for primary data collection methods. Choice C (exploratory/descriptive) refers to the purpose of the research, not the data collection methods. Choice D (focus/comprehensive) is not a commonly used classification for primary data collection methods.

Question 16

Martha's job involves asking shoppers in the mall about their experience with specific products.She works from a list given to her by the products' producers.Martha is using the _________ method to gather ____________ data.

Accepted Answer

Martha is asking shoppers about their experience with specific products, meaning she is gathering primary data directly from her target audience through questioning. The fact that she is given a list by the products' producers does not change the fact that the data she is gathering is primary. Therefore, option B is the correct answer.

Question 17

Marketing research should be viewed as a supplement to, not a replacement for, _____.

Accepted Answer

Marketing research should not replace intuitive judgement, but rather complement it. Intuition can provide valuable insights and ideas, but research is necessary to verify and support those ideas.

Question 18

Why would a small business conduct less marketing research than a larger, established business?

Accepted Answer

The answer of Why would a small business conduct less...

Question 19

The initial step in the marketing research process is to:

Accepted Answer

The answer of The initial step in the marketing research...

Question 20

Eunice is writing the marketing plan for her bed and breakfast.She has written that her market includes everyone from infants to the elderly.This is incorrect because:

Accepted Answer

The market cannot include everyone from infants to the elderly because customers must have purchasing power to be able to stay at a bed and breakfast. Infants and the elderly may not be the primary target market due to their limited purchasing power or their lack of unsatisfied needs for this type of accommodation.

Quiz 7: The Marketing Plan

_ and __ are questioning methods that involve contact with respondents.