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IM Review 24% of Final

Quiz by Jane Nelms

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45 questions
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  • Q1
    Which of the following is an example of marketing information that a business could gather by surveying its customers:
    The company's current market share
    Planned product improvements
    Location of the company's market
    Financial status of competitors
  • Q2
    Which of the following would be the marketing information most likely to be gathered and analyzed by a marketing-information management system:
    Historical data
    Employee absences
    Unchanging events
    Consumer trends
  • Q3
    Which of the following is a reason that marketers gather information:
    Competition in general has decreased.
    Marketers are decreasing their geographic scope.
    The marketing environment is constantly changing.
    Today's consumers are easy to please.
  • Q4
    What function of a marketing-information management system involves the distribution of marketing information to those who make marketing decisions?
    Marketing research
    Information reporting
    Data processing
    Data gathering
  • Q5
    One basic requirement of a marketing-information management system is that it should be able to
    gather, access, and evaluate data.
    discard data after they are analyzed.
    operate only when needed.
    be used by all personnel.
  • Q6
    A business with its own marketing-research department is most likely to use outside marketing research when
    the business needs more research than the department can handle.
    data must be analyzed by computer to be useful.
    the business needs specific internal information.
    the business wants to prevent unnecessary financial losses.
  • Q7
    Descriptive research is a type of marketing research that is used by businesses when they need to
    try several theories to see what solution would work best.
    obtain specific data related to the business's situation.
    make predictions of the business's future sales.
    decide which direction to take in a given situation.
  • Q8
    A business that test-markets a new product is using what method of marketing research?
  • Q9
    An essential characteristic of marketing research is that it must be
  • Q10
    Which of the following is the most important reason for creating a written plan for a marketing-research project:
    To keep the project on track
    To make it easy to analyze the data collected
    To keep the project from going over budget
    To implement the marketing concept
  • Q11
    Which of the following is a type of internal marketing information:
    Government databases
    Industry journals
    Sales reports
    Public records
  • Q12
    XYZ Company is interested in developing, producing, and selling a new product. Before it does so, the company spends six months conducting marketing research. What are the primary advantages of this course of action?
    To delay the production process and increase labor costs
    To predict trends and provide information to customers
    To determine customer preferences and minimize losses
    To increase costs and determine consumer dislikes
  • Q13
    Why is it important for businesses to obtain marketing information about economic conditions, political systems, and technological changes throughout the world?
    To understand geography
    To eliminate trade quotas
    To import products
    To remain competitive
  • Q14
    Which of the following is a type of external marketing information that helps businesses make decisions:
    Sales predictions
    Demographic trends
    Customer databases
    Purchasing records
  • Q15
    Useful marketing information often helps businesses to
    solve problems.
    develop ethics.
    decrease sales.
    prevent competition.

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