Toughest Question On Marketing! Trivia Quiz

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| By Greg.eppes
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Greg.eppes
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Quizzes Created: 3 | Total Attempts: 3,031
Questions: 100 | Attempts: 108

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Toughest Question On Marketing! Trivia Quiz - Quiz


Questions and Answers
  • 1. 

    One business promising to do something for another business in return for receiving compensation is an example of a

    • A.

      Treaty

    • B.

      Benefit

    • C.

      Contract

    • D.

      Enterprise

    Correct Answer
    C. Contract
    Explanation
    Contract. Contracts are agreements among two or more parties stating that one party is to do something
    in return for something provided by another party. If one business promises to do something for another
    business in return for receiving compensation, the two businesses have a contract. Then, the businesses
    are obligated to fulfill their part of the contract. In most cases, contracts benefit both parties, although
    promising to do something in return for receiving compensation is not necessarily a benefit. Treaties are
    trade agreements among two or more countries. An enterprise is another term for a business.

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  • 2. 

    A basic principle of procedural due process involves                 before taking action.

    • A.

      Obtaining witnesses

    • B.

      Providing notice

    • C.

      Awarding damages

    • D.

      Creating evidence

    Correct Answer
    B. Providing notice
    Explanation
    Providing notice. Due process is the concept that the government must respect all of the legal rights that
    are owed to individuals and businesses according to the law of the land. Legal procedure refers to the
    methods and processes that are used to protect an individual's or business's legal rights. In many
    societies, these rights include the right to be notified of accusation or lawsuit (providing notice), the right
    to obtain legal counsel, the right to be heard in court, the right to confront the accuser, etc. Obtaining
    witnesses is a pretrial activity. Awarding damages is a possible remedy or outcome of civil litigation. Due
    process involves presenting evidence, not creating it.

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  • 3. 

    Channels of distribution allow channel members to share

    • A.

      Equipment

    • B.

      Profits

    • C.

      Risk

    • D.

      Employees

    Correct Answer
    C. Risk
    Explanation
    Risk. Channels of distribution allow channel members to share risk. Moving products through a channel
    requires financing and includes an inherent financial risk. Channel members do not share profits,
    equipment, or employees.

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  • 4. 

    Massimo's Corner Grocery sells a variety of fruits and vegetables to consumers within the community.Massimo's is considered a(n)

    • A.

      Wholesaler

    • B.

      Retailer

    • C.

      Agent

    • D.

      Producer

    Correct Answer
    B. Retailer
    Explanation
    Retailer. A retailer is a business that buys goods and sells them to the final consumer. Wholesalers are
    intermediaries who buy goods from producers or agents and resell them to other businesses. Agents are
    intermediaries who assist in the sale of goods but do not take title to them. Producers are growers,
    providers, or manufacturers of goods and services.

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  • 5. 

    Radio frequency identification (RFID) increases channel efficiency because it stores product information on a computer chip that is attached to the

    • A.

      Box or container.

    • B.

      Truck's delivery antenna.

    • C.

      Customer's inventory report.

    • D.

      Receiving dock.

    Correct Answer
    A. Box or container.
    Explanation
    Box or container. Radio frequency identification (RFID) involves storing an order's product information on
    a computer chip and then attaching it to the shipment's box, container, or pallet. When a shipment arrives
    at a business, warehouse personnel use computer scanners to receive the items quickly, which
    increases efficiency. The computer chip is not attached to the delivery truck's antenna, the customer's
    inventory report, or the receiving dock.

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  • 6. 

    To assist and support another channel member's sales promotion in a particular area, a producer might work with the channel member to

    • A.

      Coordinate a regional advertising campaign.

    • B.

      Research and develop innovative products.

    • C.

      Identify trends and market shifts.

    • D.

      Develop a reliable accounting system.

    Correct Answer
    A. Coordinate a regional advertising campaign.
    Explanation
    Coordinate a regional advertising campaign. Channel members are all of the businesses and individuals
    that assist in moving goods and services from the producer to the consumer. In many situations,
    producers will assist other channel members (e.g., dealers, distributors, retailers) in sales promotions.
    One way to assist channel members planning a sales promotion in a certain area is by providing
    resources (e.g., money, product samples) to develop an advertising campaign. The goal of the
    advertising campaign is to communicate information about the sales promotion to consumers in order to
    stimulate interest and sales. The producer may provide assistance by developing new products and
    identifying market trends, but these activities do not relate to a specific sales promotion. An accounting
    system refers to the methods and procedures a business uses in handling its financial information.

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  • 7. 

    What does a channel of distribution usually need to be able to manage or avoid conflict within the channel?

    • A.

      Limited competition

    • B.

      Updated technology

    • C.

      Equal authority

    • D.

      Strong leadership

    Correct Answer
    D. Strong leadership
    Explanation
    Strong leadership. A channel of distribution that has strong leadership is often able to manage or avoid
    conflict because the leadership has the power to assign specific responsibilities to each channel member.
    Strong leadership has the authority to set goals for the entire channel and demand cooperation, which
    reduces the possibility of conflict. When a channel has strong leadership, channel members work for the
    good of the channel rather than for their individual goals. A channel of distribution does not need updated
    technology or limited competition to manage or avoid conflict within the channel. Equal authority might
    create conflict because there is no clear leader who has power and control over the channel.

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  • 8. 

    One of the characteristics of effective verbal communication is

    • A.

      Precise speech.

    • B.

      Lack of clarity.

    • C.

      Lack of tact.

    • D.

      Good use of slang.

    Correct Answer
    A. Precise speech.
    Explanation
    Precise speech. Precise speech involves choosing the words that most accurately communicate what
    you want to say. This makes your communication effective because it has clarity, and the listener will be
    most likely to receive the message you want to transmit. Effective verbal communication should also be
    tactful and should not include slang.

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  • 9. 

    Before DiAnn presents her new idea to her boss, she searches the Internet and jots down two statistics that reinforce the idea. This is an example of

    • A.

      Giving alternative ideas.

    • B.

      Obtaining primary information.

    • C.

      Supporting ideas with research.

    • D.

      Clarifying a new idea.

    Correct Answer
    C. Supporting ideas with research.
    Explanation
    Supporting ideas with research. Ideas that are research-based are more easily accepted than those that
    are not. Primary information is new information collected for the issue at hand. DiAnn is collecting
    secondary information, which involves obtaining information that has already been collected by others.
    The research does not create alternative ideas. It is meant to add validation to the original idea.
    Clarifying an idea involves explaining it in more detail.

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  • 10. 

    What should you do if you phone an important customer and the customer indicates that you have called at a bad time?

    • A.

      Offer to schedule a second call.

    • B.

      Try to continue the conversation.

    • C.

      Ask the customer to call you back.

    • D.

      Explain that the call will be short.

    Correct Answer
    A. Offer to schedule a second call.
    Explanation
    Offer to schedule a second call. In some situations, you will call an important customer at a time when
    the customer is busy or in a hurry and is unable to speak to you. Then, it is appropriate to offer to
    schedule a second call at a time that will be convenient for the customer. You should not try to continue
    the conversation or explain that the call will be short if the customer indicates that this is a bad time. It is
    your responsibility to return the call rather than ask the customer to call you.

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  • 11. 

    When businesses need to formalize the information provided to employees, customers, or other businesses, they often use                   communication.

    • A.

      Verbal

    • B.

      Lateral

    • C.

      Upward

    • D.

      Written

    Correct Answer
    D. Written
    Explanation
    Written. Written communication involves putting ideas, thoughts, and agreements into words and writing
    those words in a document or letter. Written communication is often considered to be formal because a
    copy of the information exists which indicates that all parties involved received the same message.
    Businesses often use formal written communication in order to document important transactions and
    preserve the information for future reference. Verbal communication involves speaking. Lateral
    communication is between people on the same level. Upward communication is from employees to
    supervisors or managers.

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  • 12. 

    When Brian got a new job, he made sure he knew how to use the cash register, became familiar with all the products and prices, and kept his work station very organized. In which way did Brian demonstrate the customer-service mindset?

    • A.

      Following-up

    • B.

      Following-through

    • C.

      Being efficient

    • D.

      Being accurate

    Correct Answer
    C. Being efficient
    Explanation
    Makes the product appealing. Persuasive messages usually are intended to encourage someone to do
    something. In the case of a sales message, the goal usually is to persuade a customer to buy a product.
    In order to do this, the message should make the product appealing to the customer so the customer will
    understand the benefit of buying and want to buy. The sales message should persuade the customer to
    spend money. Persuasive sales messages are not intended to simply remind the customer of the product
    or discredit the competition. Persuasive messages should not use loaded language, which is often biased
    and stereotypical.

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  • 13. 

    When writing e-mail correspondence to customers and coworkers, it is important to remember that the messages

    • A.

      Should include graphics to hold the reader's interest.

    • B.

      Should be written in an entertaining, informal way.

    • C.

      Are often seen by people other than the recipients.

    • D.

      Are usually deleted as soon as they are read.

    Correct Answer
    C. Are often seen by people other than the recipients.
    Explanation
    Are often seen by people other than the recipients. When writing e-mail messages to customers and
    coworkers, the correspondence should address various business issues; therefore, writers should
    develop the messages using a concise, friendly, and businesslike tone. If the writer uses language that is
    very casual, personal, or questionable, there is a risk of offending the recipient or others to whom the
    recipient forwards the message. Because many businesses have e-mail policies and can monitor the
    contents of e-mail messages going into and out of their companies, e-mail writers should take care not to
    send inappropriate messages. Business e-mail messages do not need to be entertaining or informal, nor
    do they need to include graphics. Many businesspeople save important e-mail messages and flag them
    for follow-up at a later time

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  • 14. 

     Which of the following is a characteristic of a persuasive sales message:

    • A.

      Contains loaded language

    • B.

      Reminds customer of the product

    • C.

      Discredits the competition

    • D.

      Makes the product appealing

    Correct Answer
    D. Makes the product appealing
    Explanation
    Makes the product appealing. Persuasive messages usually are intended to encourage someone to do
    something. In the case of a sales message, the goal usually is to persuade a customer to buy a product.
    In order to do this, the message should make the product appealing to the customer so the customer will
    understand the benefit of buying and want to buy. The sales message should persuade the customer to
    spend money. Persuasive sales messages are not intended to simply remind the customer of the product
    or discredit the competition. Persuasive messages should not use loaded language, which is often biased
    and stereotypical.

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  • 15. 

    Which of the following is the best way to handle slow/methodical customers:

    • A.

      Let them have their say.

    • B.

      Don't jump to quick conclusions

    • C.

      Help them along by not overwhelming them.

    • D.

      Serve them nonemotionally.

    Correct Answer
    C. Help them along by not overwhelming them.
    Explanation
    Help them along by not overwhelming them. Helping them along by not overwhelming them is the best
    way to deal with slow/methodical customers. Be patient. Mirror their methodical behavior. They will come
    around when they trust your good intentions. Avoiding jumping to quick conclusions is the best way to
    deal with dishonest customers. Letting them have their say is the best way to deal with
    domineering/superior customers. Serving non-emotionally is the best way to deal with insulting

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  • 16. 

     What is the most important economic resource?

    • A.

      Equipment

    • B.

      Minerals

    • C.

      Energy

    • D.

      People

    Correct Answer
    D. People
    Explanation
    People. Human resources, people, are the most important economic resource because they combine the
    other resources to produce goods and services. Without the work of people, land would not be used to
    grow crops, roads would not be built, and equipment would not be used to manufacture goods. Minerals
    and energy are natural resources. Equipment is capital goods.

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  • 17. 

     Which of the following is a reason that natural resources are considered limited: 

    • A.

      Some countries are unable to manufacture them.

    • B.

      Technology has advanced faster than training.

    • C.

      The Earth has certain boundaries.

    • D.

      People lack training or skills needed to do a job.

    Correct Answer
    C. The Earth has certain boundaries.
    Explanation
    The earth has certain boundaries. Currently, the earth provides most of our natural resources. As the
    population of the world increases, there will be more and more people living within those boundaries and
    demanding more resources. Therefore, there will be fewer resources per person. Lack of training and
    technology advancing faster than training are reasons for limited human resources. Natural resources are
    found in nature, rather than being manufactured.

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  • 18. 

    One of the advantages of a market economy is

    • A.

      Freedom of competition.

    • B.

      Absence of taxes.

    • C.

      Government control.

    • D.

      Assigned occupations

    Correct Answer
    A. Freedom of competition.
    Explanation
    Freedom of competition. In a market economy, businesses are free to compete with each other for labor
    and for customers. The government taxes the profits made by businesses and the money earned by
    workers in order to provide services to the people. The role of the government in our economy is limited
    to protecting private property, ensuring competition, and preserving law and order. Workers are free to
    choose the type of work they want and are limited only by their own abilities and finances.

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  • 19. 

    Which of the following is not an advantage of labor specialization:

    • A.

      Increased worker efficiency

    • B.

      Increased interdependency

    • C.

      Increased production rates

    • D.

      Simplified training of workers

    Correct Answer
    B. Increased interdependency
    Explanation
    Increased interdependency. Increased interdependency means workers need to rely on each other. It is a
    disadvantage of specialization. All of the other alternatives are advantages of specialization. Production
    rates increase because the speed with which workers perform their specific tasks increases. Workers
    become highly skilled as job tasks are performed repeatedly, and this results in increased efficiency.
    Training of workers is simplified due to the limited nature of the tasks to be performed.

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  • 20. 

    Why is the concept of price stability an effective measurement of the state of the economy?           

    • A.

      Matches the effects with the causes

    • B.

      Reflects the rise in wages and benefits

    • C.

      Indicates positive and negative trends

    • D.

      Compares revenues with expenses

    Correct Answer
    C. Indicates positive and negative trends
    Explanation
    Indicates positive and negative trends. Price stability means that price levels remain fairly constant.
    When prices are stable, they do not drastically fluctuate up or down. Price stability is one way to measure
    the condition of a country's economy. If prices are stable (a positive trend), the economy is also stable.
    Large upswings or downswings in prices (negative trend) indicate that the economy is not stable. When
    the trend is negative, governments take steps to correct the problem. The concept of price stability does
    not reflect the rise in wages and benefits, does not match the effects with the causes, and does not
    compare revenues with expenses.

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  • 21. 

    Which of the following is not a characteristic of the peak phase of a business cycle: 

    • A.

      High prices

    • B.

      High dividends

    • C.

      High unemployment

    • D.

      High interest rates

    Correct Answer
    C. High unemployment
    Explanation
    High unemployment. The peak phase of a business cycle is considered the high point of economic
    activity. It is characterized by high dividends, high production, high prices, high interest rates,

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  • 22. 

     Which of the following characteristics describes a person who always arrives at work on time: 

    • A.

      Dependable

    • B.

      Creative

    • C.

      Honest

    • D.

      Independent

    Correct Answer
    A. Dependable
    Explanation
    2. A
    Dependable. A dependable person is one who can be relied upon to do what s/he is supposed to do.
    Dependable employees comply with such rules as coming to work at a certain time every day. An
    independent person is self-reliant and likes to be in charge of his/her own life. A creative person is
    imaginative and able to come up with original ideas. An honest person tells the truth and behaves in a
    straightforward manner.

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  • 23. 

    A responsible employee who realizes that s/he has given a fellow employee the wrong answer to a work question would handle the situation by

    • A.

      Apologizing and giving the right answer.

    • B.

      Letting the other employee figure it out.

    • C.

      Pretending that s/he gave the right answer.

    • D.

      Refusing to answer questions in the future.

    Correct Answer
    A. Apologizing and giving the right answer.
    Explanation
    Apologizing and giving the right answer. A responsible person acknowledges his/her mistakes as soon as
    s/he is aware of them and then corrects them whenever possible. Since an incorrect answer may have
    caused a problem for the other employee, an apology is also in order. Letting the other employee figure
    out that the answer was incorrect, pretending that the right answer was given, and refusing to answer
    questions in the future are examples of irresponsible behavior.

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  • 24. 

    One way that businesses can protect the privacy of their customers is to limit the number of employees who have access to the customers'

    • A.

      Purchasing history.

    • B.

      Personal information.

    • C.

      Identification code

    • D.

      Telephone numbers.

    Correct Answer
    B. Personal information.
    Explanation
    Personal information. Many businesses gather personal information about their customers that they store
    in a database. This might include information about a customer's credit rating, financial status, education,
    etc. Such information should be available only to employees who need to know it in order to do their jobs.
    Businesses should limit the number of employees who have access to customers' personal information in
    order to protect the privacy of their customers and prevent unauthorized persons from obtaining and
    using this information. A customer's telephone number, purchasing history, and identification code are
    types of routine business information that usually are not considered to be private.

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  • 25. 

     When you ask coworkers for help and they aren't able to help you, which of the following responses would be most appropriate:

    • A.

      "I guess you don't remember when I helped you."

    • B.

      "I don't know how I'll ever get done."

    • C.

      "Thanks anyway; I won't bother you again."

    • D.

      "Thanks anyway; maybe another time."

    Correct Answer
    D. "Thanks anyway; maybe another time."
    Explanation
    "Thanks anyway; maybe another time." This is an appropriate response because it expresses your
    thanks for their response and lets them know you understand and will ask them again. Reminding
    coworkers that you had helped them earlier is attempting to make them feel guilty, which they will
    probably resent. Saying that you won't bother them again indicates you are offended by their refusal.
    Saying you don't know how you'll get done (without help) is whining, which is a very negative habit that
    annoys other people.

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  • 26. 

    Which of the following is a characteristic of good visions:

    • A.

      Concrete situations

    • B.

      Permanent results

    • C.

      Complicated ideas

    • D.

      Expensive processes

    Correct Answer
    B. Permanent results
    Explanation
    Permanent results. Good visions have permanent results. They are something that other people can
    carry on for many years even if the person who had the vision is not around. Examples include the right
    to vote, equal rights, and vaccines for diseases. Visions are abstract rather than concrete. Visions should
    be simple enough that anyone can understand rather than overly complicated. Some visions are
    expensive to turn into reality but are worth the price; however, some visions may not justify the price.

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  • 27. 

    Achievement-oriented people rely on       to set the standards for their work.

    • A.

      Their bosses

    • B.

      Their followers

    • C.

      Their coworkers

    • D.

      Themselves

    Correct Answer
    D. Themselves
    Explanation
    Themselves. Achievement-oriented people rely on themselves to set the standards for their work. They
    don't allow others to set the standards for them.

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  • 28. 

    A business manager who wants to lead change in the company needs to be

    • A.

      Forceful

    • B.

      Emotional

    • C.

      Persuasive

    • D.

      Conservative

    Correct Answer
    C. Persuasive
    Explanation
    Persuasive. Business managers who want to lead change in the company need to have certain
    characteristics to be effective. They should be persuasive which means they have the ability to get
    people to see things their way, do things their way, or agree with them. Change doesn't just happen on
    its own. Change leaders need the involvement and help of many different people. Effective change
    leaders are able to persuade the right people to go along with them and help make the change happen.
    A manager who wants to lead change does not need to be emotional, forceful, or conservative.

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  • 29. 

     Pedro received a check in the amount of $432.87 from the Tabor Corporation, a company in which he is a stockholder. This source of income is referred to as

    • A.

      Inheritance

    • B.

      Wages

    • C.

      Interest

    • D.

      Dividends

    Correct Answer
    D. Dividends
    Explanation
    Dividends. Individuals and businesses acquire income in many ways. Dividends are earnings that are
    paid to investors or stockholders for their investments. When Pedro purchased shares of Tabor stock, he
    became an owner of the company. As an owner of the company, Pedro has the opportunity to earn a
    percentage of the company's profits, which are paid to him in the form of dividends. Wages are the
    income that workers earn for the work that they perform. Interest is the reward or cost of lending or
    borrowing money, usually figured as a percentage of the amount borrowed. An inheritance is the assets
    (e.g., property, goods, money) that a person leaves to others upon his/her death.

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  • 30. 

    Choosing to buy an item at the check-out counter is often an example of

    • A.

      Financial self-control.

    • B.

      Poor use of credit.

    • C.

      Impulsive spending.

    • D.

      Smart shopping.

    Correct Answer
    C. Impulsive spending.
    Explanation
    Impulsive spending. Choosing to buy an item at the check-out counter is a classic example of impulsive
    spending. Poor use of credit may or may not be involved. Choosing not to buy the item would illustrate
    financial control and would be a good example of smart shopping.

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  • 31. 

    Investors take a risk for the potential of receiving which of the following:

    • A.

      Return

    • B.

      Prize

    • C.

      Natural

    • D.

      Economic

    Correct Answer
    A. Return
    Explanation
    Return. Investors are willing to take a risk for the potential of return (reward or benefit they might
    receive). The return is what the investment can potentially earn for the investor. Prizes are awarded to
    players in sweepstakes contests. Bonuses are added to employees' paychecks. And, recognition is
    positive attention for extraordinary achievements. Prizes, bonuses, and recognition do not provide the
    motivation for investing.

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  • 32. 

     A summarization of the total income and expense of a business for a period of time is called

    • A.

      The profit-and-loss statement.

    • B.

      Gross profit.

    • C.

      Cost of goods sold

    • D.

      Balance sheet.

    Correct Answer
    A. The profit-and-loss statement.
    Explanation
    The profit-and-loss statement. This income statement reports total revenue and expenses for a specific
    period of time. A balance sheet identifies a business's assets, liabilities, and capital on a given date. The
    difference between total sales and cost of goods sold is the gross profit. The cost of goods sold is the
    purchase price of the goods that were sold.

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  • 33. 

    When return on capital is positive, the company is

    • A.

      Low on cash.

    • B.

      Losing value.

    • C.

      Growing in value.

    • D.

      Paying out dividends.

    Correct Answer
    C. Growing in value.
    Explanation
    Growing in value. When return on capital is positive, the company is growing in value. When return on
    capital is negative, the company is losing value. A high return on capital would not indicate that a
    company is low on cash. Businesses can have a high return on capital but not pay out dividends.

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  • 34. 

    To make sure that their budgets are effective, what should businesses do with budget information?

    • A.

      Send it to all stockholders

    • B.

      Provide it to all top managers

    • C.

      Post it on bulletin boards

    • D.

      Communicate it to all employees

    Correct Answer
    D. Communicate it to all employees
    Explanation
    Communicate it to all employees. To make sure their budgets are effective, businesses should
    communicate them to all employees. Even the best, most accurate budget is ineffective if no one sees it.
    Effective budgets are those that have been clearly communicated to all employees, so that each person
    in the company is aware of his/her effect on the company's profits. All employees should receive this
    information, not just top managers. Businesses usually send annual financial statements rather than
    budget information to their stockholders. Specific budget information usually is not posted on company
    bulletin boards.

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  • 35. 

    A human-resources manager is reviewing job applications for a marketing position to select which candidates to call for an interview. What process is the human-resources manager performing?

    • A.

      Prospecting

    • B.

      On-boarding

    • C.

      Screening

    • D.

      Negotiating

    Correct Answer
    C. Screening
    Explanation
    Screening. In the human-resources function, screening involves “weeding out” the applicants that do not
    meet minimum requirements for the job or have not satisfactorily completed the application. On-boarding
    activities are human-resources tasks that must be performed when a new employee joins the company
    (e.g., orientation and paperwork). Prospecting is a sales activity that involves identifying any person or
    organization with the potential to buy a product. Negotiating is the process of influencing someone to take
    a certain course of action in order to achieve a desired outcome

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  • 36. 

    The purpose of using a marketing-information management system to gather data on the activities and new products of other businesses is to

    • A.

      Compare warehouse procedures.

    • B.

      Monitor the competition.

    • C.

      Improve stock control.

    • D.

      Analyze promotional methods.

    Correct Answer
    B. Monitor the competition.
    Explanation
    Monitor the competition. Information about competitors' activities is very important to a business. An
    important responsibility of a marketing-information management system is to gather and analyze such
    data as improvements planned for competitive products, new products that are being introduced, or the
    competition's market share. Comparing warehouse procedures, analyzing promotional methods, and
    improving stock control are other functions of a marketing-information management system not related to
    monitoring the competition.

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  • 37. 

    Which of the following is an example of a business obtaining marketing information about consumers in a way that might be considered unethical:

    • A.

      Offering a free product in exchange for personal data

    • B.

      Conducting a random survey

    • C.

      Sending questionnaires to a specific audience

    • D.

      Developing a scientific experiment

    Correct Answer
    A. Offering a free product in exchange for personal data
    Explanation
    Offering a free product in exchange for personal data. Certain ways of obtaining marketing information
    may be considered unethical even though they are legal. An example is offering free products in
    exchange for personal data. Consumers may be persuaded to provide information that they normally
    would not provide simply because the offer is so tempting, or they need the product being offered.
    Furthermore, consumers have no guarantee that the business will keep the personal data confidential. In
    some cases, businesses try to obtain this information in order to sell it to others. Most businesses follow
    ethical procedures when obtaining marketing information about consumers. These procedures might
    include conducting a random survey, sending questionnaires to a specific audience, and developing a
    scientific experiment.

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  • 38. 

    Secondary research is cost-effective for marketers because the data

    • A.

      Are incomplete.

    • B.

      Are cheap to purchase.

    • C.

      Are specific.

    • D.

      Already exist.

    Correct Answer
    D. Already exist.
    Explanation
    Already exist. Secondary research is cost-effective for marketers because the data already exist. The
    organization does not need to pay the costs of undertaking original research. Secondary data are not
    necessarily cheap to purchase, nor are they specific to the research project at hand. Secondary data may
    be incomplete; however, this is not a reason that secondary research is cost-effective.

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  • 39. 

    Managers should avoid marketing-research projects that

    • A.

      Make little financial sense.

    • B.

      Might give unfavorable results.

    • C.

      Take a long time to complete.

    • D.

      Involve new products.

    Correct Answer
    A. Make little financial sense.
    Explanation
    Make little financial sense. Managers should avoid marketing-research projects that make little financial
    sense—in other words, the costs of conducting the research don't outweigh the potential benefits. Even if
    a marketing-research project gives unfavorable results, managers can still use the information to make
    the best decisions and strategies for the company. It shouldn't make a difference if a marketing-research
    study takes a long time to complete or involves new products—it can still be useful.

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  • 40. 

    The results of exploratory research are often

    • A.

      Unusable

    • B.

      Specific

    • C.

      Quantitative

    • D.

      Qualitative

    Correct Answer
    A. Unusable
    Explanation
    Qualitative. The results of exploratory research are often qualitative, or based on thoughts, opinions, or
    feelings. They are not necessarily specific. They are usually not quantitative, or measurable. They are
    usable for generating hypotheses or familiarizing marketers with the problem at hand.

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  • 41. 

    Marketers draw samples from

    • A.

      Current and former employees.

    • B.

      Media stories.

    • C.

      Their target population.

    • D.

      Groups of university students.

    Correct Answer
    C. Their target population.
    Explanation
    Their target population. Marketers draw samples from their target population, or the specific group of
    individuals or units they are studying. The target population may or may not include media stories,
    current and former employees, or groups of university students.

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  • 42. 

    Marketing researchers would use the Likert rating scale when its questionnaire's statements are designed to measure the respondents'

    • A.

      Feelings and knowledge.

    • B.

      Level of agreement.

    • C.

      Specific beliefs.

    • D.

      Level of intuitiveness.

    Correct Answer
    B. Level of agreement.
    Explanation
    Level of agreement. The Likert scale measures the respondents' level of agreement with a statement.
    For example, a questionnaire might contain the statement, “The PTR Company consistently provides
    excellent customer service.” The response options might include phrases such as strongly agree, agree,
    no opinion, disagree, and strongly disagree. The respondents select the option that corresponds to their
    feelings. Marketing researchers do not use the Likert scale to measure the respondents' knowledge,
    specific beliefs, or levels of intuitiveness.

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  • 43. 

    Which of the following is a technique that businesses can use to monitor their competitors' activities: 

    • A.

      Reading annual reports

    • B.

      Analyzing economic factors

    • C.

      Studying regional data

    • D.

      Reviewing buying motives

    Correct Answer
    A. Reading annual reports
    Explanation
    Reading annual reports. Businesses often monitor their competitors' activities in order to make marketing
    decisions that will help them to stay competitive. Businesses can obtain valuable information by reading
    their competitors' annual reports that often list major customers and describe successful promotional
    activities. Annual reports also include information about profitability, sales volume, new product
    development, and expansion. Businesses can use this information to develop similar products or to
    expand their sales area. Economic factors involve the state of the local economy. Regional data include
    geographic and demographic information about the area. Buying motives are the reasons or benefits that
    cause people to make purchases to satisfy wants and needs.

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  • 44. 

    What is an example of a marketing-research method that is used to collect primary data? 

    • A.

      Census data

    • B.

      Customer survey

    • C.

      Trade-journal article

    • D.

      External reports

    Correct Answer
    B. Customer survey
    Explanation
    Customer survey. Primary marketing research is information that a business obtains for a specific
    purpose. Businesses use many techniques to obtain primary data, such as observation, interviews, and
    surveys. Surveys contain questions about the information the business wants to obtain. For example, a
    business might distribute a survey to its customers when it wants to find out what the customers think of
    the business's goods and services. Census data, trade-journal articles, and external reports are forms of
    secondary research.

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  • 45. 

    When should researchers ask potentially sensitive questions during an interview?

    • A.

      Toward the end of the interview

    • B.

      At the beginning of the interview to get them out of the way

    • C.

      Throughout the interview

    • D.

      At the mid-point of the interview to allow time for the researcher to build rapport

    Correct Answer
    A. Toward the end of the interview
    Explanation
    Toward the end of the interview. By asking potentially sensitive questions toward the end of an interview,
    the researcher can avoid having the participant cut off the interview before important information can be
    collected. By asking the questions at the beginning, in the middle, or throughout the interview, the
    researcher risks prematurely ended interviews.

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  • 46. 

    One reason businesses often avoid using open-ended questions as a method of obtaining results from a marketing survey is because the results may be difficult to

    • A.

      Enter into a database.

    • B.

      Store for future use.

    • C.

      Code for evaluation.

    • D.

      Distribute to management.

    Correct Answer
    C. Code for evaluation.
    Explanation
    Code for evaluation. Businesses assign codes to survey responses in an effort to use the information in a
    numerical mode. Open-ended questions are designed so that respondents react to questions in a
    manner that requires more than "yes" or "no" as an answer. Because possible responses are not
    controlled or limited, coding is often more difficult. If businesses are not able to assign codes to the
    responses, the survey results may be extremely difficult to evaluate. The results of surveys that contain
    open-ended questions are not difficult to store for future use, to enter into a database, or to distribute to
    management.

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  • 47. 

    One of the strengths of using internal sources to collect marketing research information is that the information

    • A.

      Pertains directly to the issue.

    • B.

      Is available to outside users.

    • C.

      Relates to industry problems.

    • D.

      Is organized by department.

    Correct Answer
    A. Pertains directly to the issue.
    Explanation
    Pertains directly to the issue. Internal information is information located inside the company. One of the
    strengths of using internal information is that it often pertains directly to the issue. For example, if the
    issue is the popularity of a specific product, current sales and inventory data can provide information
    about how well that product is selling. Internal information often is not available to outside users.
    Although the information might relate to industry problems, that is not one of its strengths. Internal
    information may, or may not, be organized by department.

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  • 48. 

    It is beneficial to a marketing researcher to use open-ended questions on a survey when 

    • A.

      Maintaining structure is important.

    • B.

      The survey is long and technical.

    • C.

      Conducting exploratory research.

    • D.

      Objectivity is an important factor.

    Correct Answer
    C. Conducting exploratory research.
    Explanation
    Conducting exploratory research. Exploratory research is marketing research that collects information to
    help the business define its issue, situation, or concern and decide which direction to go in order to
    address it. Surveys that consist of open-ended questions require respondents to provide more than a
    “yes” or “no” answer. An open-ended question is a type of unstructured question that allows a respondent
    the opportunity to express opinions, state issues, and provide ideas. By obtaining this type of in-depth,
    qualitative information, the researcher may be able to define the problem and determine in which
    direction to proceed with the research. Long and technical surveys tend to overwhelm the respondents;
    so open-ended questions may not be answered fully, if at all. The use of open-ended questions yields
    subjective responses.

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  • 49. 

    Which of the following is a measure of how happy a customer is:

    • A.

      Customer attitude

    • B.

      Customer behavior

    • C.

      Customer satisfaction

    • D.

      Customer loyalty

    Correct Answer
    C. Customer satisfaction
    Explanation
    Customer satisfaction. Customer satisfaction is a measure of how well your business or product meets or
    exceeds customer expectations; in other words, how happy is the customer? It may be one type of
    customer attitude. Customer loyalty is a customer's preference for a business; in other words, how often
    does the customer purchase the business's goods or services? It is observed in customers' behavior.

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  • 50. 

    Changes that occur in the marketplace may cause an established business to                     its marketing strategies.

    • A.

      Implement

    • B.

      Identify

    • C.

      Redesign

    • D.

      Publicize

    Correct Answer
    C. Redesign
    Explanation
    Redesign. Marketing strategies are influenced by many factors not within the direct control of the
    business. These include the actions of competitors, the influences of governmental agencies, and
    changes in consumer attitudes. When any of these factors change, the business may need to change, or
    redesign, its marketing strategies in order to continue to meet company goals. The strategies should
    already have been identified and implemented in an established business. The business may publicize its
    goals or its achievements but would probably not publicize the strategies used to achieve those ends.

    Rate this question:

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Feb 22, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • Oct 23, 2014
    Quiz Created by
    Greg.eppes
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