Market Research Essentials

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Question 1
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A major problem for most managers today is having too little information.

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Question 2
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A market information system (MIS) is a software package that companies purchase to help decision makers cope with critical information.

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Question 3
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Market information systems serve as an information bank where important data are stored until it is needed.

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Question 4
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The information needs of all marketing managers are essentially the same.

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Question 5
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In marketing planning, situation analysis involves identification of competitive strengths, weaknesses, and trends.

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Question 6
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Technology companies such as Apple use market research to understand product users' needs and also to understand the competition.

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Question 7
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Managers are typically aware of all the information in their own company.

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Question 8
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Most companies do a good job of maximizing their existing information.

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Question 9
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Not tracking and responding to demographic changes is a management failure because the data are easy to obtain and major changes occur slowly.

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Question 10
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Companies can use demographic data to create profiles of current customers and identify new market opportunities.

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Question 11
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Good marketing research looks to develop answers to fit a predecided outcome.

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Question 12
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Secondary data are collected for some other purpose than the problem currently being considered.

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Question 13
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Research almost always involves secondary data collection.

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Question 14
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Market research can be a useful tool helping senior managers identify and deal with the real issue.

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Question 15
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Causal research is useful for identifying characteristics of a target market or determining how customers use a product.

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Question 16
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Primary data are collected specifically for the research question at hand.

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Question 17
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An in-depth interview is a structured conversation with an individual who was selected at random.

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Question 18
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Open-ended questions allow respondents to express themselves freely, which tends to result in more detailed responses that are useful for exploratory research.

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Question 19
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Conducting an online (virtual) focus group is an appropriate alternative to a traditional focus group format, and it offers cost-efficiency and convenience.

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Question 20
Multiple Choice

A continuing process of identifying, collecting, analyzing, accumulating, and dispensing critical data to marketing decision makers is known as ________ .

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A
market-driven strategic planning
B
a marketing concept
C
the marketing mix
D
marketing orientation
E
a market information system
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