23) Research carried out indirectly through other existing resources is called ________.
A) Secondary research
B) Tributary research
C) Ancillary research
D) Literature analysis
E) Primary research
Learning Obj.: LO 2
AACSB: Analytical thinking
24) By teaching customers how to use its products, Home Depot is helping customers see the
________ of its products.
A) Benefits
B) Features
C) Ramifications
D) Structure
E) Qualities
Learning Obj.: LO 3
AACSB: Application of knowledge
25) Marketing is the satisfying of customer needs ________.
A) At a profit
B) At no profit
C) With no attention to profit
D) Regardless of profit
E) At the breakeven point
Learning Obj.: LO 1
AACSB: Analytical thinking
26) Market research is typically ________.
A) Ongoing: You always do market research
B) Complete a year after product introduction
C) Complete prior to product introduction
D) Complete within six months after introduction
E) Complete when the product or service is introduced
Learning Obj.: LO 3
AACSB: Analytical thinking
7
27) Psychographic analysis and behavioral analyses are examples of methods of ________.
A) Market segmentation
B) Marketing
C) Market research
D) Market study
E) Market investigation
Learning Obj.: LO 3
AACSB: Analytical thinking
28) Marketing is ________.
A) Satisfying customers at a profit
B) The business function that identifies customers
C) The business function that identifies customer needs
D) The business function that identifies customer wants
E) All of the above
Learning Obj.: LO 1
AACSB: Analytical thinking
29) Market research can help you get a fix on who your customers are by determining ________.
A) What kind of income they earn
B) What benefit your product or service offers that would best or most attract them
C) How old they are
D) Where they live
E) All of the above
Learning Obj.: LO 3
AACSB: Analytical thinking
30) What is the third step of deciding who the potential customers are for your business?
A) Understanding who needs your product or services
B) Understanding who might actually buy your product or service
C) Analyzing the buying process that leads customers to your product or service
D) Understanding customer relationships
E) Analyzing family values
Learning Obj.: LO 3
AACSB: Analytical thinking
8
31) Statistics dealing with the behavior of groups of people are called geographics.
Learning Obj.: LO 3
AACSB: Analytical thinking
32) A market is identified by attitudinal, behavioral, demographic, and other characteristics.
Learning Obj.: LO 1
AACSB: Reflective thinking
33) Industry associations, chambers of commerce, and public agencies frequently collect
demographic and statistical data on and for their members or constituents.
Learning Obj.: LO 2
AACSB: Application of knowledge
34) Marketing is an isolated business function.
Learning Obj.: LO 1
AACSB: Analytical thinking
35) Large corporations spend very little money on market research before they introduce a
product or service.
Learning Obj.: LO 2
AACSB: Analytical thinking
36) The customer realizes a need in the awareness step of the buying process.
Learning Obj.: LO 3
AACSB: Reflective thinking
37) The methods to use for industry research do not overlap with those for customer research.
Learning Obj.: LO 3
AACSB: Analytical thinking
9
38) Annual reports of competitors can provide information for benchmarking and include
industry insights.
Learning Obj.: LO 2
AACSB: Analytical thinking
39) Written survey questions should be clearly stated, easy to understand, and relatively short.
Learning Obj.: LO 2
AACSB: Analytical thinking
40) Secondary research is carried out indirectly, through existing resources.
Learning Obj.: LO 2
AACSB: Analytical thinking
41) In the introduction stage of the product life cycle, your product or service is new to the
market and is essentially unknown.
Learning Obj.: LO 3
AACSB: Analytical thinking
42) Secret shoppers are part of the tracking primary research category.
Learning Obj.: LO 2
AACSB: Analytical thinking
43) Marketing is the business function that identifies customers and their needs and wants.
Learning Obj.: LO 1
AACSB: Analytical thinking
44) Online searches are an example of secondary research.
Learning Obj.: LO 2
AACSB: Analytical thinking
10
45) Primary research is conducted directly on a subject or subjects.
Learning Obj.: LO 2
AACSB: Analytical thinking
46) Explain the difference between features and benefits and how it applies to sales.
Learning Obj.: LO 3
AACSB: Analytical thinking
47) Explain why marketing is considered the business function that should drive all of a
business’s decisions.
Learning Obj.: LO 1
AACSB: Analytical thinking
48) Explain what market segmentation is and how it applies to marketing.
Learning Obj.: LO 3
AACSB: Analytical thinking
49) What is tracking and how does it help?
Learning Obj.: LO 2
AACSB: Analytical thinking
11
50) Analyze the buying process that leads customers to your product or service.
Learning Obj.: LO 3
AACSB: Analytical thinking
12