MKT 310 Week 5 Midterm Exam
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MKT 310 Week 5 Midterm Exam
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MKT 310 Week 5 Midterm Exam
1) Using intuition, continuing what was done before, and copying a successful competitor’s strategy are examples of ________.
A) retail strategies based on nonsystematic research
B) creative problem solving
C) the marketing concept applied to retailing
D) executive judgment
2) An example of nonsystematic research in retailing, relating to the effect of a price rise on projected sales, is ________.
A) evaluating sales of sweaters at different price levels in prior years
B) developing an educated “guess” as to demand for sweaters based on current weather conditions
C) interviewing consumers to determine their probability of purchasing sweaters at different prices
D) experimentation with different price levels in matched-pairs of stores
3) The information needs of retail managers are anticipated, collected, organized, and stored on a continuous basis in ________.
A) a retail information system
B) observation
C) an experiment
D) retail research
4) Which of these is not a benefit of the use of a retail information system?
A) Opportunities can be foreseen.
B) The initial time and labor investment is low.
C) Crises can be avoided.
D) The elements of a retail strategy can be coordinated.
5) The procedure to gather, integrate, apply, and store information related to specific subject areas is referred to as ________.
A) data warehousing
B) data mining
C) data-base management
D) a retail information system
6) A major benefit to data warehousing is its ________.
A) ability for data access and retrieval at multiple locations
B) low cost
C) continuously being updated
D) ease of use
7) An application of data mining is ________.
A) pilferage control
B) sales forecasting
C) micromarketing
D) mass marketing
8) The use of micromarketing is an example of which target marketing strategy?
A) undifferentiated marketing
B) mass marketing
C) concentrated marketing
D) differentiated marketing
9) Which statement concerning the Universal Product Code (UPC) is not correct?
A) The UPC is not readable by humans.
B) The UPC is now the accepted industry standard by food and general merchandise retailers.
C) The UPC symbol also includes price information.
D) With the UPC, cashiers no longer have to enter transactions manually.
10) The Universal Product Code (UPC) system allows a retailer to ________.
A) develop a personnel performance system
B) evaluate store managers based on profitability
C) read price information based on the code
D) store and monitor product sales data on an item-by-item basis
11) Retailers and their suppliers regularly exchange information via their computers through the use of ________.
A) retail information systems
B) electronic data interchange
C) data-base management
D) customer relationship marketing programs
12) Marketing research in retailing involves ________.
A) primary data collection and analysis
B) secondary data collection and analysis
C) the collection and analysis of information relating to specific issues or problems facing a retailer
D) the gathering, storing, and retrieval of data in an orderly manner
13) Which stage of the marketing research process in retailing is concerned with the development of a clear statement of the topic to be examined?
A) recommendations
B) primary data collection
C) issue (problem) definition
D) implementation
14) Data that have already been gathered for purposes other than the problem or issue under study are ________.
A) secondary data
B) primary data
C) marketing research data
D) marketing information systems data
15) Secondary data can be further broken down into ________ and ________ data.
A) probability; nonprobability
B) internal; external
C) survey; experiments
D) primary; tertiary
16) Data generated through surveys, observation, experiments, and simulation to address the specific problem or issue under study are ________ data.
A) primary
B) secondary
C) marketing information systems
D) marketing research
17) A major advantage of secondary data is the ________.
A) fit with the research topic to be studied
B) immediate availability of data for analysis
C) ability to control the use of questions and the sequence of questions
D) known source and control over data collection
18) A major disadvantage of the use of secondary data is ________.
A) its high cost of data collection
B) its lack of a representative sample
C) that data may be categorized in an unusable fashion
D) its difficulty in tabulation
19) An example of internal secondary data is ________.
A) a new market research study conducted by an independent market research company
B) a new market research study conducted by the firm’s market research department
C) a retailer’s profit-and-loss statements
D) annual reports of competitors
20) An example of external secondary data is ________.
A) a new market research study conducted by an independent market research company
B) a new market research study conducted by the firm’s market research department
C) company-based inventory records
D) annual reports of competitors
21) Ongoing studies are made available to many clients for a fee from ________.
A) channel members
B) the U.S. federal government
C) the Business Periodicals Index
D) commercial research houses
22) A major advantage of primary data is that the ________.
A) study is inexpensive
B) methodology is conducted for the current study
C) data are readily available
D) data can always be collected by a single retailer
23) Sampling of stores, products, or customers in a nonprobability sample is conducted on the basis of ________.
A) judgment or convenience
B) an equal chance of being chosen
C) a known chance of being chosen
D) a table of random digits
24) Information is systematically gathered from respondents by communicating with them in a(n) ________.
A) observation
B) simulation
C) survey
D) experiment
25) Which of the following is not a survey?
A) personal interviewing
B) customer traffic counts
C) a mail-based questionnaire
D) a telephone-based questionnaire
26) The potential for interviewer bias is greatest in which survey technique?
A) mail survey
B) observation
C) telephone survey
D) personal survey
27) In a nondisguised survey, a respondent is told the ________.
A) actual stores being investigated
B) sponsor of the survey
C) actual intent of the study
D) actual name of the market research company conducting the survey
28) Disguised surveys are typically used to study consumer ________.
A) demographics
B) life-styles
C) attitudes
D) reactions to price changes
29) The semantic differential technique uses ________.
A) demographic data
B) nominal scales
C) ratio scales
D) bipolar adjective scales
30) An appliance retailer is classified by consumers as friendly, reliable, moderately attractive, and as providing a relatively good value for the money. The research technique used by the retailer is ________.
A) observation
B) a semantic differential
C) experimentation
D) an online survey
31) A form of research in which present behavior or the results of past behavior are noted and recorded is ________.
A) observation
B) survey
C) simulation
D) experimentation
32) The major disadvantage of observation is that ________.
A) the sampling is not probability-based
B) attitudes cannot be studied
C) the experiment is contrived
D) the respondent knows that he or she is being measured
33) One or more elements of a retail strategy mix are manipulated under controlled conditions in which research technique?
A) observation
B) simulation
C) survey
D) experiment
34) Which research technique is able to show cause and effect?
A) survey
B) experiment
C) observation
D) simulation
35) A mathematical model is constructed to explain the environment facing a retailer in which research technique?
A) survey
B) experiment
C) observation
D) simulation
36) A small movie theater plans to build a coffee and snack bar that features espresso based on the success of a much larger competitor that features six screens. This strategy represents ________.
A) systematic research
B) nonsystematic research
C) a retail information system
D) single-source data
37) Which does not represent a systematic method of research?
A) pre-testing of a survey to determine potential biases in wording
B) verifying that interviews were actually conducted with selected respondents by use of a telephone
C) use of a nonprobability sample in a legal case involving retail pricing
D) removing potential respondents, who have moved prior to a store being renovated, from a store image survey
38) A major characteristic of a retail information system is ________.
A) its low cost
B) the use of competitor data
C) the use of verified data from government sources
D) its continuous nature
39) A hotel chain found the following profile to exist for its guests: average stay is 2.4 nights, 54 percent had a car with them, 73 percent used an in-room phone for 3 or more calls, 8 percent watched a pay-per-view television program, and 15 percent purchased a snack item from the in-room refrigerator. Which form of marketing research was the retailer utilizing?
A) a retail information system
B) an experiment
C) simulation
D) observation
40) The difference between regular reports and exception reports is based on ________.
A) length
B) the handling of deviations from expected performance
C) cost
D) types of accounts covered
41) A retailer with 1,000 credit accounts has 50 with balances that are past due for over 45 days. How many accounts would be listed in the exception report?
A) 25
B) 45
C) 50
D) The answer cannot be determined based on the information provided.
42) An example of an exception report is ________.
A) a report listing customers with overdue credit card balances
B) a quarterly profit-and-loss statement
C) an inventory turnover report by merchandise classification
D) an analysis of profitability by merchandise classification
43) A frequent-shopper program is an example of ________.
A) electronic data interchange
B) market research
C) data-base management
D) data mining
44) A retailer uses sophisticated software to evaluate large quantities to uncover emerging trends. This illustrates ________.
A) data warehousing
B) data mining
C) experimentation
D) simulation
45) The data collection role of retailers in a distribution channel has been facilitated by ________.
A) the use of UPC and scanners
B) simulation-based studies
C) personal surveys
D) observation
46) The Universal Product Code (UPC) is most widely used in conjunction with ________.
A) inventory management
B) consumer credit-card purchases
C) merchandise returns
D) accounting recordkeeping
47) An advantage of electronic data interchange (EDI) is ________.
A) increased communication between retailers and their suppliers
B) increased communication between retailers and their customers
C) increased speed of data transmission on sales by employee
D) more accurate data due to the modular nature of the transmission process
48) Paperless communication between a retailer and its suppliers has been facilitated by ________.
A) retail information systems
B) UPC-based technology and EDI
C) exception reports
D) data-base management
49) The major difference between marketing research in retailing and a retail information system is that ________.
A) the retail information system stores data
B) the retail information system is continuous
C) marketing research in retailing includes the retail information system process
D) marketing research in retailing does not include inventory-related data
More Questions are Included…
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