MIM

1. MIM

2. 7: What is an internal source of marketing information for a business? A: Government planning agencies B: Inventory records C: Public libraries D: Trade journals

3. 8: In planning marketing activities and in making marketing decisions, marketersuse a variety of data gathered by a(n) A: inventory control system B: double-entry bookkeeping system C: file of employee records D: marketing-information management system

4. 10: Your company has asked you to make recommendations for new hardware and software to replace the existing marketing-information system. What should you recommend? A: The largest system available for future expansion B: Software that is secure and accessible only to you C: Software that decision makers can use with minimum training D: Software that everyone in the company can use to collect and process data

5. 37: Which characteristics of useful marketing information is represented by the statement “The benefits of using the information should be greater than the expense of gathering the data used to generate this information”? A: Timeliness B: Accessibility C: Relevancy D: Cost-effectiveness

6. Answer D: Cost-effectiveness Marketing information must provide greater benefits to the user than the expense of gathering the data used to generate this information. If the marketing information cannot provide greater benefits to the user , then the corresponding data are not worth gathering or processing. Timely data and information are up-to-date, so the data must be gathered at a time when they will be of the most value to the business. Accessible information is readily available so that it can be used without major effort or excessive cost. Marketing information should be relevant- closely related to the situation at hand

7. 36: What is an example of marketing information that a business could gather by surveying its customers? A: Planned product improvements B: The company’s current market share C: Location of the company’s market D: Financial status of competitors

8. Answer C: Location of the company’s market. By surveying customers, the business can determine where the people who are interested in buying its products are located. Information about the company’s market share and plans to improve current products can be obtained from the company’s own records. The financial status of competitors is only available if they operate as a corporation and must report their finances to shareholders, or they are in a situation that requires them to disclose their financial recouses.

9. 9. When a marketing- information management system compares financial information from one time period with the financial data from another time period, it provides a picture of the business’s. • Competition • Situation analysis • Sales forecasts • Profitability

10. 11. One advantage to marketing- information managers of using the internet to do research and gather data is that the process is. • Inexpensive • Restrictive • Regulated • Protected

11. 12. So a business can retrieve current customer and internal marketing information from a central location, it may use which of the following technological tools: • Presentation software • A database • Opt- in e-mail • A CAD program

12. 13. Which of the following is a technology tool that allows a business to observe a customer’s internet activities: • Spam • Hyperlink • Cookie • Host

13. 42. Why do many businesses place a cookie on a user’s hard drive when the user visits the business’s web site? • To regulate the user’s access to information • To make it easy for the user to find the website • To track the number of times the user buys a product • To guarantee that the web site is secure

14. Explanation question 42. C. To track the number of times the user buys a product. Many businesses that have web sites place a cookie, which is a type of information, on a user’s hard drive when the user visits that site. Then, the next time a user visits that site, the site’s computer recognizes the user because of the cookie. A business’s marketing-information managers use cookies to maintain user information and track how many times a user visits a specific web site or buys a product online. This type of data allows marketing-information managers to customize web sites in order to appeal to the preferences and habits of customers who are visiting their sites. Cookies make it possible for businesses to obtain marketing information. They do not make it easy for the user to find the web site, regulate the user’s access to information, or guarantee that web site is secure.

15. 43. How can businesses use computerized databases to sort and organize information about customers’ purchases, brand preferences, and dollar amounts spent? • To maintain sales strategies • To prepare financial reports • To develop inventory control plans • To customize its marketing efforts

16. Explanation question 43 D. To customize marketing efforts. Many businesses use computerized databases to sort and organize information about customers’ purchases, brand preferences, dollar amounts spent, etc. The benefit to the business is that it can use this information to customize its marketing efforts and appeal to specific customers. For example, a business might use a database to organize customers according to geographic location, and send different promotional pieces to each area. The database allows a business to target specific customers based on certain criteria. Businesses do not use this type of customer information to prepare financial reports, develop inventory control plans, or maintain sale strategies.

17. 44. How can using a database to track its customers’ preferences and buying habits help a business? • Decreases the need to analyze marketing activities • Obtains additional deductions for its semi- annual tax return • Reduces unnecessary operational expenses • Builds strong, loyal customer relationships

18. Explanation question 44 D. Builds strong, loyal customer relationships. When a business understands what its customers like and dislike about its good and services, it can incorporate activities to maintain, improve, or expand its products. When customers see that the business is showing interest in meeting their needs and wants, they are more likely to continue the relationship with the business. A business’s tax deductions are not generally based on its ability to track its customers’ buying behavior. Operational expenses refer to all of the expenses of running the business. A database can facilitate efficient use of a business’s resources, but does not necessarily reduce operating expenses, nor does it necessarily decrease the need to analyze marketing activities.

19. #15 Which of the following is a characteristic of unstructured observation? • A. Often records a variety of behaviors • B. Uses standard checklists to document behavior • C. Requires the use of surveillance equipment • D. Most often limits observer with specific guidelines

20. #15 Answer: A • The answer is A because the answer is obvious.

21. # 16 What is the advantage is using personal interviews to collect marketing data? • A. Biased interviewer • B. Slow collection rate • C. Limited interaction • D. High flexibility

22. #16 Answer: D • The answer is D because D is for dogs.

23. # 63 What is a common methods of collecting research date that often involves the use of questionnaires? • A. Case study • B. Mail survey • C. Message board • D. Behavior chart

24. #63 Answer: B • Mail survey. A survey is a marketing-research method that involves asking consumers questions in order to learn their opinions and the reasons behind those opinions. Researches often use mail surveys that are sent to individuals’ homes as a way of collecting data. A message board is a gathering place for transmitting ideas or information through electronic communication. A case study is an instructional method that involves giving trainees a written description of an organizational problem, and the trainees are asked to determine the problem and potential solutions. Behavior chart is not a common method of collecting research data.

25. #64 What data-collection methods can be used to obtain product information during the point-of-purchase process? • A. Volume-tracking scanner • B. photographic scanner • C. E-mail survey • D. Statistical survey

26. #64 Answer: A • Volume-tracking scanner. A scanner is an electronic device that reads or translates codes that are placed on products and enters the product information into a computer. Scanners are commonly used during a sales transaction, which is the point of purchase. This is a popular method of collecting information about customers’ buying habits and inventory status because the scanning system can track large volumes of goods. Once enough data are collected, researchers evaluate the data to determine how fast or slow certain products are moving, which is information they can use to make business decisions.

27. #64 Explanation Continued • Photographic scanner, e-mail surveys, and statistical surveys are not data collection methods that researchers use during the point of purchase process.

28. #65 What is the most appropriate data-collection method to use when a business wants to determine how its employees interact with customers? • A. Experiment • B. Observation • C. Employee survey • D. Telephone interview

29. #65 Answer: B • Observation. Observing the way in which employees and customers interact is one way to obtain information about customer service and customer satisfaction. This technique involves watching how the employees and customers communicate with one another without them knowing that they are being observed. The observation approach often provides the researcher with insight (verbal and nonverbal cues) that s/he cannot obtain by holding a telephone interview or by distributing a survey.

30. Cont. For example, if observation research indicates that several employees have problems helping customers select the appropriate product, the business can take steps to train employees so they can better help customers. An experiment involves manipulating certain factors in a controlled environment to determine the cause and effect of variable combinations. An experiment would not be the appropriate approach to determine how employees interact with customers.

31. #66 • What is an example of a marketing-research method that is used to collect primary data? • Customer Survey • Census Data • Trade-Journal Article • External Reports

32. #66 Answer: A • 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.

33. 17.To obtain reliable valid marketing research data when conducting personal interviews researchers must make sure that the interviewers are • A-open friendly and nonjudgmental • B-approachable opinionated and organized • C- consistent biased and aggressive • D- courteous passive and distant

34. 17. Answer • A- open friendly and nonjudgmental

35. 14. Which of the following is a rating scale that allows marketing researchers to determine respondents feelings • A- variable • B- likert • C- comparative • D- attribute

36. 14. Answer • B- likert

37. 67.How can ill- designed questionnaires affect survey participants • A- can make them question surveys purpose • B- can decrease their response rate • C- can decrease their desire to answer personal questions • D- can make them take their time to complete the survey

38. 67. Answer • B.can decrease their response rate. Ill-designed questionnaires negatively affect the quality and quantity of data obtained from survey participants. This lowers their response rate because they may think the survey is too complex too time consuming or too confusing survey design is unlikely to make participants question the surveys purpose decrease their desire to answer personal questions or make them take their time to complete the survey

39. 68. 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

40. 68- answer • A- 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 I the middle or through out the interview the researcher risks prematurely ended interviews

41. 62. What type of scale is a firm using when a survey format has a seven-point rating system consisting of opposite adjectives on each of the scale • A- semantic differential • B- likert • C- stapel • D- random rating

42. 62. Answer • A semantic differential. Itemized scales provide respondents with a set of options from which they must choose and answer. A semantic differential scale is a type of itemized scale that marketing researchers use to measures attitudes. The scale provides seven spaces which are bounded by descriptive antonyms at each end such as reliable and unreliable the respondent places an x at the point or space on the continuum that best describes his/her feeling about the object or idea that s/he is rating. The likert scale measures the respondents level of agreement with the statement. The spatel scale is a 10- point scale that places the phrase in the middle and requires the respondent to mark which series of positive or negative numbers best describes his/her feelings about the phrase in relation to the object or idea. Random-rating scale is a fictitious term

43. 61. The sbu company developed a survey In which respondents are provided the same number of favorable rating options what type of scale has this survey used • A- sequential • B- continuous • C- spliced • D- balanced

44. 61. answer • D balanced. Marketing researchers can use many types of itemized rating scales on a survey. An itemized scale provides respondents with a set of options from which they must choose an answer. A balanced itemized scale provides an equal number of favorable respondents (e.g. dissatisfied extremely dissatisfied) a continuous scale is a type of non comparative scale that allows respondents top place a slash mark on a line that is bounded by two opposite variables . Spliced and sequential are not types of survey rating scales

45. 6. What does a business need in order to understand why a product that has been a strong seller for a long time is now losing its popularity? A. marketing information B. sales records C. secondary data D. purchasing documents

46. A. Marketing information They need to see how rival products are doing and how they are affecting the product.

47. 29. What is one way that businesses use marketing information? • To develop new products • To determine credit scores • To change economic trends • To prepare sales invoices

48. To develop new products Businesses need to obtain and analyze a wide variety of marketing information in order to make decisions for the future. One way that businesses use this information is to develop new products and improve existing products in order to satisfy customers’ needs. In order to make marketing decisions that will keep them competitive, businesses are constantly gathering information about customers’ preferences and why customers buy certain products. Businesses do not use marketing information to prepare sales invoices. Businesses obtain marketing information in order to monitor economic trends, but they are not able to change those trends. Credit scoring is a function of finance that helps a company determine a customer’s credit worthiness.

49. 30. What does continuously monitoring international marketing information enable businesses to do? • Investigate competitors • Identify problems • Evaluate market share • Analyze economic changes

50. B. identify problems Marketing information is data available inside (internal) and outside (external) the business. Internal marketing information that businesses monitor include inventory reports, customers, sales records, customers’ feedback from surveys, etc. Comparing current and past marketing information can often reveal problems, such as a sudden drop in sales of a particular product. A drop in sales may indicate that the business needs to provide new or improved products or increase promotional efforts. Businesses need to review various forms of external marketing information to effectively investigate competitors, evaluate market share, and analyze economic changes.