45) Determiniing decision makers’ information needs, acquiring the needed information, and
distributing that information to the decision makers in a form, and at a time when they can use it
for decision-making describes:
A) The role of internal reporting systems.
B) The role of marketing information systems.
C) The role of market research systems.
D) The role of market intelligence systems.
46) The best system that can tell a manager a great deal of information about what has happened
in the past is the:
A) Marketing research system.
B) Marketing intelligence system.
C) Internal reporting system.
D) Decision support system.
47) Marketing research provides managers with new information to help them make decisions.
48) New technologies continue to change the competitive landscape with less frequency than
before.
49) Managers must determine what products to make or what services to offer, which methods of
advertising are most effective, which prices will help their firm realize its target return on
investment (ROI), and which distribution system will add the greatest value to the supply chain.
50) The American Marketing Association defines marketing as the activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have value
for customers, clients, partners, and society at large.
51) Because of new methods of market research, modern marketing thought holds that firms
should not collaborate and learn from consumers.
52) Outsourcing is the practice of obtaining services or ideas by asking for assistance from large
groups of people, generally online communities.
53) A short definition of marketing is “meeting needs effectively.”
54) Marketing research is part of marketing.
55) When firms make the right decisions, they produce products and services that their target
markets perceive as having value. That value translates into sales, profits, and a negative ROI.
56) In many examples of failed products and services, managers could have avoided the
associated losses if they had conducted proper marketing research.
57) The marketing mix is a business philosophy that holds that the key to achieving
organizational goals consists of the company being more effective than competitors in creating,
delivering, and communicating customer value to its chosen target markets.
58) A marketing strategy consists of selecting a segment of the market as the company’s target
market and designing the proper “mix” of product/service, price, promotion, and distribution
system to meet the wants and needs of the consumers within the target market.
59) Marketing research is the process of designing, gathering, analyzing, and reporting
information that may be used to increase investor’s returns.
60) The American Marketing Association’s definition of marketing research outlines a twelve–
step approach to marketing research.
61) Some people define market research as a subset of marketing research, using this term to
refer to applying marketing research to a specific market area.
62) Marketing research is defined as a process that reports information that can be used to solve
a marketing problem, such as determining price or identifying the most effective advertising
media.
63) Linking the consumer to the marketers by providing information that can be used in making
financial decisions is the purpose of marketing research.
64) Only information collected on consumers is considered marketing research. Research
collected on other groups or topics such as distribution channels, competitors, pricing, or
products is not considered marketing research.
65) Consumers now have more power to speak to others in the marketplace because of
globalization, online shopping, and social media.
66) The three uses are (1) identifying market opportunities (2) generating and refining potential
market actions, and (3) monitoring marketing performance.
67) Consumers wanted increasingly large TV screens to hang on their walls, so Samsung
developed an ultra-thin, LED, large-screen TV. This is an example of using market research to
identify market opportunities and problems.
68) Some marketing research studies are designed to find out what consumers’ problems are and
to assess the suitability of different proposed methods of resolving those problems.
69) Marketing research can also be used to refine and evaluate a potential marketing action such
as strategies, campaigns, programs, or tactics.
70) Marketers think of ” actions” as strategies, and strategies involve selecting a target market
and designing a marketing mix to satisfy the wants and needs of that target market.
71) Most market research is conducted to determine market opportunities rather than determining
the size of various market segments.
72) Testing as a part of product research may begin with business case development and
continues with idea generation that allows firms to quickly and inexpensively get consumers’
reactions to the idea of a proposed new product.
73) When a revolutionary new product is created, marketers use pricing research to determine
the “value” consumers perceive in the new product.
74) Marketers who want to know how effective expenditures are for advertising, sales force,
publicity/PR, and promotional offers use product research.
75) Distribution research would be used by companies who want to know the best channels to
get their product to consumers; the location of the best dealers for their product, or how to
evaluate the service the dealer provides.
76) The research firm MSR Group conducted a rolling tracking study measuring drivers of bank
customer satisfaction. The nationwide study allows banks to identify factors that determine
advocates and loyal, at-risk, and critical customer relationships. This is an example of monitoring
marketing performance.
77) Marketing professors at colleges and universities and other not-for– profit organizations, such
as the Marketing Science Institute, often conduct applied research and publish their results in
journals such as the Journal of Marketing Research or the Journal of Marketing.
78) For the most part, marketing research firms are conducting applied research to solve a
specific problem facing a company.
79) Some product failures are a result of being brought to market without any research, which
increased the probability of failure.
80) Management information systems typically have subsystems to provide the information
necessary for a functional area within an organization. Such subsystems are the accounting
information system, financial information system, production information system, human
resources information system, and marketing information system.
81) A structure consisting of people, equipment, and procedures to gather, sort, analyze,
evaluate, and distribute needed, timely, and accurate information to marketing decision makers is
a marketing information system.
82) Internal information from orders, billing, receivables, inventory levels, stockouts, and so on
may be gathered by using a marketing intelligence system.
83) Information is gathered and analyzed by the five systems of the MIS: internal reports,
marketing intelligence, marketing decision support, information management, and marketing
research.
84) When an item is purchased at a grocery store, a record is generated of the SKUs purchased,
payment method, coupons or special promotions used, store location, and day of week and time
of day. The reports generated from these activities are an example of an external reports system.
85) The marketing intelligence system gathers everyday information about pertinent
developments in the environment.
86) Several online information service companies, such as Lexis-Nexis, provide marketing
intelligence. The use of Lexis-Nexis focuses on bringing in information generated outside the
firm. This information would rest in the marketing intelligence system.
87) A marketing decision support system is defined as collected data that may be accessed and
analyzed using tools and techniques that assist managers in decision-making.
88) The marketing research system aggregates information gathered by the other MIS component
subsystems: Marketing research studies are conducted for all non-specific situations facing the
company.
89) When Walmart was designing Walmart To Go, the retailer’s online service that offers
delivery or pick-up services in select markets, management had several service options available
to offer customers and needed to know more about today’s shopper. This is an example of using
the market research system to design a marketing research study to address a specific situation
facing the company.
90) Decision support systems eliminate the need for marketing research.
91) Collected data that may be accessed and analyzed using tools and techniques that assist
managers in decision making is representative of a decision support system.
92) A final characteristic of marketing research differentiates it from the other MIS components:
Marketing research projects, unlike the other components, are not continuous-they have a
beginning and an end.
93) To fully appreciate the role of marketing research, it is helpful to understand its role in and
relationship to marketing. Discuss the role of marketing research and its role in and relationship
to marketing.
94) A philosophy may be thought of as a system of values or principles by which you live. What
is the connection between philosophies and the business decisions that managers make? Why are
philosophies important?
95) One of the most important philosophies managers have is that which determines how they
view their company’s role in terms of what it provides the market. The marketing concept is a
much more effective philosophy than the sales orientation philosophy. Define the marketing
concept and discuss its relationship to marketing research.
96) Explain market strategy and why marketing research is important to strategy makers.
97) Distinguish between the use of marketing research as applied research and basic research.
Give one example of both applied research and basic research.
98) Marketing research is conducted in a variety of areas, including determining target markets
and conducting product research, pricing research, promotion research, and distribution research.
Give your own example to illustrate a marketing research study that may be used in each of the
following: A. product research, B. pricing research, C. promotion research, and D. distribution
research.
99) Despite companies’ best efforts, there are many product failures in the marketplace. List two
product failures and explain the most important reason they failed. Discuss whether or not these
failures could have been avoided with better or a different type of market research.
100) Define and distinguish among the subsystems of an MIS including internal reports,
marketing intelligence, marketing decision support, and marketing research.