The first step in the segmentation process is to:
A. create a perceptual map.
B. produce a disclosure statement listing the strengths and weaknesses of the firm’s past marketing strategies.
C. clearly articulate the firm’s vision or marketing strategy objectives.
D. articulate the firm’s self-concept.
Because marketing is all about creating value for customers, dividing the market based on __________ segmentation can be quite useful.
Chain stores often use __________ data to identify other locations with similar demographics and purchasing behavior.
For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm’s marketing mix. The market segment must be:
Market growth, market competitiveness, and market access are all elements the marketer will use when assessing __________ of each potential market segment.
__________ involves defining the firm’s marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm’s offerings relative to competitors’ offerings.
A __________ is often used to illustrate the position of a firm’s products or brands in consumers’ minds.
A. mass marketing analysis
B. VALS summary
C. perceptual map
D. loyalty timeline
Despite the short-term success of Tiffany & Co.’s effort to gain new customers for life, the appeal to younger less affluent customers alienated the older, more affluent customer base. Tiffany & Co. chose to reconnect with its traditional customer bases and began the difficult task of:
C. strategic course correction.
Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media. Paul is using this type of market research primarily to:
A. provide a link between him and his production center.
B. help him understand the needs of his customers.
C. monitor his competitors.
D. increase profits through the sale of syndicated data.
The difference between an MkIS and a market research study is, an MkIS:
A. only uses unstructured questions.
B. is an ongoing process of collecting, analyzing and presenting information.
C. uses observation research while market research uses questionnaires.
D. focuses only on shopping behavior.
From charitable giving to medical records to Internet tracking, consumers are more anxious than ever about:
A. secondary data retrieval systems.
B. exploitation of resources by unscrupulous global marketers.
C. the use of data mining by dating services.
D. preserving their fundamental right to privacy.
The Marketing Research Process follows five steps, and researchers:
A. may not always go through them in the exact sequence if the situation changes or new information is discovered.
B. should maintain the integrity of the process by following each step sequentially and thoroughly.
C. often collect data before defining the research objectives.
D. will often be prepared to present the results before completing the analysis if they are under a great deal of pressure to meet a deadline or launch.
The first question a market researcher should ask when considering a research study is:
A. Who will pay for it?
B. Will the research be useful?
C. When is the due date?
D. What sample size will be needed?
Market researchers can skip some steps in the process, but the research should always begin with:
A. focus groups to help refine the questions.
B. finding out what management really intends to decide to avoid doing extra work.
C. defining the objectives and research needs.
D. looking for the newest techniques in data analysis to beat the competition.
The objectives of a research project define the type of data needed and:
A. the statistical procedures utilized to redefine the objectives.
B. process of analysis to be employed.
C. the forum in which the data will be presented.
D. the type of research necessary to collect the data.
Company sales invoices, Census data, and trade association statistics are examples of:
A. primary data.
B. data mines.
C. secondary data.
D. simplistic data.
There are many important marketing research uses for internal data. If detailed customer information is kept over a period of time, the company may be able to construct an important measure of a customer’s profitability known as:
A. customer net worth.
B. customer earning potential.
C. customer lifetime value.
D. primary customer profit.
Caroline needs to find information about income and age distribution in Orange County, California. The best source of secondary research of use to Caroline is likely to be:
A. door-to-door surveys.
B. focus group interviews.
C. syndicated data.
D. Census data.
Observation, in-depth interviews, and focus groups are all __________ research methods.
B. data warehousing
C. syndicated marketing
__________ research is a type of quantitative research that manipulates variables to help determine cause and effect.
B. Scientific marketing