Title: Marketing Information and Research
Course: Question Banks

Q: Which marketing process is a systematic way to link collected and analyzed marketing information of customer insights with marketing opportunities and solutions to marketing problems?
- marketing mix
- marketing campaigns
- marketing research
A: marketing research

Q: What is the freshest source of dependable customer information from either outside or inside an organization?
- marketing strategies
- marketing objectives
- marketing information
A: marketing information

Q: Why is conducting marketing research vital in today's world?
- the speed of change in the market today remains steady
- customers’ needs and wants remain nearly identical throughout their lifetime
- new competitors enter markets and change the dynamics of customer expectations
A: new competitors enter markets and change the dynamics of customer expectations

Q: Besides marketing information being used throughout all of the marketing mix process, what is another critical area that benefits from discovering the marketing research information?
- accounting and accounts receivable
- human resources management
- sales forecasting and related costs
A: sales forecasting and related costs

Q: Vicki just opened her new cupcake store. She knew from conducting online research what the most popular cupcake was and planned her menu accordingly. When she opened her doors there was a small trickle of steady customers for a month, but not the anticipated flood she was hoping for. What mistake did Vicki make?
- She knew exactly what customers craved in cupcakes.
- She conducted no initial market research of customer cupcake preferences.
- She failed to gather information indicating that the demand for cupcakes was declining.
A: She failed to gather information indicating that the demand for cupcakes was declining.

Q: A camera company had a system set up to captured their customer’s information from company interactions. The information included buying behaviors, communication preferences, gender, geographic location, and age. What is this type of collection of information called?
- competitive intelligence
- marketing research
- internal data
A: internal data

Q: Last year the Ritzy Fan company loaded up all of their customer interaction information into a customer relationship management (CRM) system. Using the sophisticated computer algorithms in the system, the marketing department has identified the best times to offer discounts and increase prices and when customers are more likely to drop away from purchases. This new insight into their customer behaviour can assist the team in deciding:
- how to anticipate bill payment tardiness
- where to focus the company’s supply purchases
- when to generate a marketing campaign offering additional discounts to retain customers
A: when to generate a marketing campaign offering additional discounts to retain customers

Q: A fruit stand marketer has gathered marketing information about a rival fruit stand by reading their advertisements, checking out their website, and looking at what other similar fruit stands have opened their area. This is known as:
- internal data
- pricing strategy
- competitive intelligence
A: competitive intelligence

Q: Joe’s Crab Shack is on the heavily trafficked beach boardwalk. Lance, the owner, decides to see what the other crab shacks are offering. He discovers that most of the competition is within a mile of his location, have better advertising and signage than his shack, and offer smaller meals for lower prices. With this new competitive intelligence, what is Lance’s best marketing choice?
- change the size of his food plates, increase his prices
- focus his efforts on mimicking the competition
- update his signage and highlight his bigger meals as a better deal
A: update his signage and highlight his bigger meals as a better deal

Q: A lip balm company with two types of marketing messages ran a focus group on potential customers to see which message had more impact. From this marketing research the marketers could discover insights into:
- how the environmental factors affect consumer behavior
- the company’s strengths, weaknesses and profitability
- the message’s communication effectiveness with the target market
A: the message’s communication effectiveness with the target market

Q: Caroline started doing her marketing research process by identifying the problem of poor marketing message penetration. What does Caroline need to articulate next?
- develop the research plan
- conduct research
- objectives for the research
A: objectives for the research

Q: The dog grooming shop Coddled Critters has recently lost many of its clients. Coddled Critters is starting a market research process and has identified its problem, objectives, and research questions. What is the next logical step for Coddled Critters to take?
- setting additional objectives for the research
- conducting the research
- developing the research plan
A: developing the research plan

Q: A hair salon wants to expand its business. It began working through a marketing research process and are they now in the planning the research step. What do they need to put in the plan besides the types of data needed, timing, budget, data collecting methods, interpretation, and reporting?
- setting objectives for the research
- how they are going to collect the data
- their analysis plan
A: their analysis plan

Q: Frank owns a skateboard store. He needs to capture another market and is walking through the steps of a marketing plan. He begins checking out his current customers and analyses what they are like, what type of purchases they make, and what they look like demographically. He talks with a few of his best customers and then realized he missed a step in the process. Now that he has conducted his primary research, what should be his next step?
- analyzing the report findings he has so far collected
- go back and revisit his plan objectives
- conduct secondary research
A: conduct secondary research

Q: Glen has taken his team through the marketing research process for their company and crunched the data to find the correlations of customer and product relationships. He is now ready to present his findings to management? After his analysis, what next step will the management team take?
- start over with the research
- revisit the objectives for the research
- take action on the discovered research
A: take action on the discovered research

Q: Source information previously collected from either outside or inside an organization is known as:
- observational research
- primary research
- secondary research
A: secondary research

Q: A company sells vacuums for consumers and wants to see the latest marketing trends, find data on its industry, and developments in both online and offline news sources for its yearly forecasting. What is a best place for it to discover this information?
- U.S. Census Bureau
- internal data
- industry associations, professional journals
A: industry associations, professional journals

Q: What are some of the known limitations of secondary research?
- It is often collected for the precise reasons you are researching the information and data
- It usually addresses your exact problem, competition and market dynamics
- Information is often somewhat dated
A: Information is often somewhat dated

Q: With the variety of ways to conduct primary research, what does a company need to considered to conduct primary research in a most effective manner?
- reports and studies from government resources
- industry reports and trade association data sources
- resources, timing, and budget
A: resources, timing, and budget

Q: What is the research called if it collects information that is easily counted, statistically analyzed, and tabulated?
- qualitative research
- secondary research
- quantitative research
A: quantitative research

Q: Research that explores perceptions, behaviors, and ideas in depth with a small number of research participants is known as:
- secondary research
- quantitative research
- qualitative research
A: qualitative research

Q: A company conducts primary research by watching its non-customers and customers purchase, shop, return products, give positive and negative feedback, and engage in a variety of behaviors. What type of research did this company use?
- in-depth interviews
- focus groups
- observational research
A: observational research

Q: An organization decides to conduct primary research on their products by selecting a few customers for in-depth interviews. What is a potential disadvantage of taking this approach?
- interviews were difficult to collect the data from
- interviews might have been subject to groupthink
- interviews are expensive to conduct
A: interviews are expensive to conduct

Q: A company decides to actively monitor social media interactions with its brand, products, company image, and reach. They begin to monitor Facebook, blogs, media outlets, Twitter, etc. What are potential discoveries it may discover by conducting the social listening research?
- What topics are learned through private activities.
- Which topics are not being discussed.
- See who shapes and influences opinions.
A: See who shapes and influences opinions.

Q: What are examples of the most common quantitative marketing research?
- observation and social monitoring
- focus groups and in-depth interviews
- experimental research and surveys
A: experimental research and surveys

Q: If an organization desires to conduct research with more active control over who participates and has a large budget to pay for research, which combination of research methods would best suit its situation?
- mail and online research
- in-person research and mail research
- telephone and in-person research
A: telephone and in-person research

Q: The organization that collects data in the U.S. economy about industries, businesses, and the general population which is focused on a business user is:
- United Nations UNdata
- FedStats
- U.S. Small Business Administration (SBA) General Business Data and Statistics
A: U.S. Small Business Administration (SBA) General Business Data and Statistics

Q: Cora is strategizing expanding her business consulting services into international markets. In order to identify what countries have a robust enough economy to support her business model she must sift through international economic data. Cora can best find her relevant data through which source?
- U.S. Bureau of Economic Analysis
- Data.gov
- World Bank Data
A: World Bank Data

Q: Identify some of the commercial companies that provide syndicated marketing research often used by organizations subscribed to their services:
- World Bank Data, Google Trends
- FedStats, U.S. Census Bureau Data
- Nielsen, Yankelovich, Ipsos
A: Nielsen, Yankelovich, Ipsos

Q: Besides syndicated data and publicly available data there are other useful sources for discovering marketing data. Identify some of the additional sources:
- Yankelovich, Nielsen
- Pew Research Center, World Bank Data
- LexisNexis, Google Analytics
A: LexisNexis, Google Analytics

Q: A discipline in marketing combining computer and database technology with marketing communications and customer service is the definition of:
- customer retention strategy (CRS)
- employee relationship management (ERM)
- customer relationship management (CRM)
A: customer relationship management (CRM)

Q: A company used its CRM systems to capture customer information and interactions data and to centrally store this information. How else can a company use its CRM system?
- To 100% accurately forecast future customer behavior and purchases.
- To automatically reinforce behavioral components to make a formal sales process successful.
- To tailor its marketing mix to customer interests and needs and target segments.
A: To tailor its marketing mix to customer interests and needs and target segments.

Q: What is different about using a CRM system approach rather than a traditional marketing research project approach?
- The CRM inquiries contain more general information than a traditional marketing research project.
- A traditional marketing research project is more self-contained than a CRM system because of its system tools .
- The CRM inquiries are more self-contained because of the tools the system provides.
A: The CRM inquiries are more self-contained because of the tools the system provides.

Q: As a CRM system captures customer data over a customer’s life cycle with a company, what is this type of system particularly effective at doing for a company?
- anticipating future market economic trends
- isolating customer data and making it inaccessible for marketing use
- identifying marketing problems
A: identifying marketing problems

Q: What is the next step to take after marketing research is conducted and results collected?
- Marketers post research reports to the general market through publicly available search engines.
- Marketers create reports and keep the findings to themselves.
- Marketers share marketing information with appropriate team members to highlight findings.
A: Marketers share marketing information with appropriate team members to highlight findings.

Q: What is a useful exercise for a marketer to conduct to encourage a better reception of the marketing research insights in an organization?
- Remind team members of the changes this new research will instigate.
- Review the results and post the information publically as soon as it is available.
- Review the original problem the research was trying to solve.
A: Review the original problem the research was trying to solve.

Q: Armed with marketing research results, the company marketer Jeff is conducting a brainstorming session about the price of his company’s main product. Which of these questions are most appropriate to steer the conversation about price?
- How can we make it easier for customers to find and buy our product?
- What can we do to encourage customers to buy more from us,more frequently?
- How would changes to pricing affect sales?
A: How would changes to pricing affect sales?

Q: The Stryker company discovered through marketing research that one of its medical devices was too difficult for doctors to locate for purchase. It redesigned its website information and highlighted the device, trained the sales staff, prominently featured the device in trade magazines, and simplified the purchasing process. What important step in the process did the Stryker company forget to do?
- Make sure that the website featured the medical device in its new design.
- Create articles featuring the device in more trade magazines.
- Measure the impact and results from all of those changes and make additional adjustments.
A: Measure the impact and results from all of those changes and make additional adjustments.

Q: A B2B company’s management and marketing team walked through its annual product and service offerings analyzation. The marketing team provided tracking information from the previous year which indicated that ten of the company’s products and services sales fell by 20% over the prior year. They conducted in-depth interviews of their top business customers and discovered that the technology supporting these ten offerings was antiquated. What should the company do with this information?
- Continue to use the current marketing mix and company technology for the current year.
- Reposition and reprice these ten offerings with additional discounts and keep existing technology.
- Identify the correct technology upgrades for these offerings.
A: Identify the correct technology upgrades for these offerings.