MKT 571 Final Exam 1

Topics: Marketing, Marketing research, Customer relationship management Pages: 17 (2099 words) Published: November 11, 2014
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1) Small companies can engage is marketing research in a number of creative and inexpensive ways, including _______________.
A.
Using its own internal marketing research department
B.
Buying information from database companies like A.C. Nielsen
C.
Setting up their own web site
D.
Using an online information service such as the internet

2) A marketing information system (MIS) consists of ___________.
A.
An organized collection of comprehensive data about individual customers, prospects, or suspects that is currently accessible for marketing purposes.
B.
The systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation.
C.
A set of procedures and sources used by managers to obtain everyday information and relevant developments in the marketing environment.
D.
The people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

3) When Molly’s parents retired, they decided they wanted to travel. They found an ideal job that allows them to travel for free, but the only catch is they have to stay at Holiday Inns. During each stay, they test all the amenities offered by the motel and evaluate each. The evaluation forms are sent to the motel headquarters where it becomes part of the motel’s __________ systems.

A.
Accountability information system (AIS)
B.
Experiential research data
C.
Marketing research
D.
Marketing intelligence

4) All of the following are steps in the marketing research process EXCEPT:
A.
Compare data to government sources
B.
Collect the information
C.
Define the problem and research objectives
D.
Present the findings

5) The step in the marketing research process that includes determining who will be sampled is to _______________.
A.
Collect the information
B.
Develop the research plan
C.
Define the problem and research objectives
D.
Make the decision based on the project outcomes

6) The second step in the marketing research process is ______________.
A.
Decision regarding the research tools and target group
B.
Define the problem and research objectives
C.
Development of the research plan
D.
Collection of the available sources for information needed

7) Marketing information systems are developed from internal company records, marketing intelligence, and marketing research.
A.
True
B.
False

8) The last step in marketing research is developing the research plan.
A.
True
B.
False

9) Typically, companies budget about 11-12 percent of company sales for marketing research.
A.
True
B.
Fasle

10) Lowe’s home improvement stores strive to have nicer, more knowledgeable salespeople, a better product selection, and to maintain an impeccable image. These are all part of improving the offer via _____________.

A.
Increasing the service value
B.
Reducing the product’s monetary costs to the buyers.
C.
Reducing the buyer’s nonmonetary costs
D.
Increasing total customer value

11) ______________ is the difference between a prospective customer’s evaluation of all the benefits and costs of an offering and the perceived alternatives.
A.
Customer delivered value
B.
Customer perceived value
C.
Total customer cost
D.
Customer relationship management

12) Which of the following is NOT a component part of total customer value?
A.
Psychic value
B.
Services value
C.
Product value
D.
Image value

13) A(n) ________________ is likely to offer informal advice and information about a product or product category.
A.
Opinion leader
B.
Aspirational reference group
C.
Primary reference group
D.
Diversity marketing program

14) Each of the following is considered consumer behavior EXCEPT:
A.
Acceptance of a political idea
B....
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