MKT 445 Actual Test 2024
Marketing Research (CH 1) Correct Answer: The systematic gathering, recording, and analyzing data of a
particular market
Marketing Concept (CH 1) Correct Answer: Achieve goals and beat competition
4 P's (CH 1) Correct Answer: Product, Price, Place, Promotion
Purpose of marketing research (CH 1) Correct Answer: To link consumer to marketer by providing info
that can be used in marketing decisions
The need of marketing research (CH 1) Correct Answer: To hear the voice of the consumer!
Classifications of marketing research studies (CH 1) Correct Answer: 4 uses of marketing research
#1 use of marketing research (CH 1) Correct Answer: Identifying marketing opportunities and problems
(SWOT Analysis)
#2 use of marketing research (CH 1) Correct Answer: Generating, Refining, and Evaluating potential
marketing
#3 use of marketing research (CH 1) Correct Answer: Monitoring marketing performance (image
analysis, tracking studies)
#4 use of marketing research (CH 1) Correct Answer: Improving marketing as a process (basic
research/applied research)
Marketing Information System (MIS) (CH1) Correct Answer: A structure of people, equipment, and
procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to
marketing decision makers
4 Subsystems of MIS (CH 1) Correct Answer: Internal Reports, Marketing Intelligence, Marketing
Decision Support, Marketing Research
History of marketing research industry (CH 2) Correct Answer: Started in 1911 by Charles Coolidge
Parlin. IN 1930s it became more wide spread.
Types/Classifications of external firms in the industry (CH 2) Correct Answer: Full-service supplier,
Syndicated data service, Standardized service, Customized service, Online research service, Limited
service supplier
External: Full-service supplier firm (CH 2) Correct Answer: Conduct entire M.R project for buyer
, External: Syndicated data service firm (CH 2) Correct Answer: Collect info that is available to multiple
firms
External: Standardized service firm (CH 2) Correct Answer: Test marketing, Brand names for new
products, Measuring advertising effectiveness, etc...
External: Customized service firm (CH 2) Correct Answer: Each client's problems are treated with unique
research project
External: Online research service firm (CH 2) Correct Answer: Provide services online
External: Limited service supplier (CH 2) Correct Answer: Eye testing, Mystery shopping, market
segment specialists, etc...
Internal Suppliers can... (CH 2) Correct Answer: #1. Have own formal departments
#2 Have no formal dept. but place indiv/committee in charge of M.R
#3. Assign no one responsibility of M.R
External Suppliers may organize by... (CH 2) Correct Answer: #1. Function (data analysis/collection)
#2. Research Application (customer satisfaction, advertising effectiveness)
#3. Geography (domestic v international)
#4. Type of customer (health care, government, etc...)
Challenges in M.R Industry Today (CH 2) Correct Answer: #1. Issues w/ economy
#2. Drops in response rates
#3. Doesn't represent voice of consumer
#4. M.R is narrow minded
#5. Operates in a silo
Elements of ethics within M.R (CH 2) Correct Answer: Deontology and Teleology
Ethics: Deontology (CH 2) Correct Answer: Concerned w/ rights of individual
Ethics: Teleology (CH 2) Correct Answer: Analyzes behavior in terms of benefits/costs to society
Ethics: Sugging (CH 2) Correct Answer: Selling under guise of a survey (ILLEGAL)
Ethics: Frugging (CH 2) Correct Answer: Fundraising under the guise of a survey (unethical but legal)
11 Step Method of M.R Process (CH 3) Correct Answer: #1. Establish the need
#2. Define problem
#3. Establish objectives
#4. Determine design
#5. Identify sources
#6. Determine methods accessing data
#7. Design data forms
#8. Determine sample size
#9. Collect data
Marketing Research (CH 1) Correct Answer: The systematic gathering, recording, and analyzing data of a
particular market
Marketing Concept (CH 1) Correct Answer: Achieve goals and beat competition
4 P's (CH 1) Correct Answer: Product, Price, Place, Promotion
Purpose of marketing research (CH 1) Correct Answer: To link consumer to marketer by providing info
that can be used in marketing decisions
The need of marketing research (CH 1) Correct Answer: To hear the voice of the consumer!
Classifications of marketing research studies (CH 1) Correct Answer: 4 uses of marketing research
#1 use of marketing research (CH 1) Correct Answer: Identifying marketing opportunities and problems
(SWOT Analysis)
#2 use of marketing research (CH 1) Correct Answer: Generating, Refining, and Evaluating potential
marketing
#3 use of marketing research (CH 1) Correct Answer: Monitoring marketing performance (image
analysis, tracking studies)
#4 use of marketing research (CH 1) Correct Answer: Improving marketing as a process (basic
research/applied research)
Marketing Information System (MIS) (CH1) Correct Answer: A structure of people, equipment, and
procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to
marketing decision makers
4 Subsystems of MIS (CH 1) Correct Answer: Internal Reports, Marketing Intelligence, Marketing
Decision Support, Marketing Research
History of marketing research industry (CH 2) Correct Answer: Started in 1911 by Charles Coolidge
Parlin. IN 1930s it became more wide spread.
Types/Classifications of external firms in the industry (CH 2) Correct Answer: Full-service supplier,
Syndicated data service, Standardized service, Customized service, Online research service, Limited
service supplier
External: Full-service supplier firm (CH 2) Correct Answer: Conduct entire M.R project for buyer
, External: Syndicated data service firm (CH 2) Correct Answer: Collect info that is available to multiple
firms
External: Standardized service firm (CH 2) Correct Answer: Test marketing, Brand names for new
products, Measuring advertising effectiveness, etc...
External: Customized service firm (CH 2) Correct Answer: Each client's problems are treated with unique
research project
External: Online research service firm (CH 2) Correct Answer: Provide services online
External: Limited service supplier (CH 2) Correct Answer: Eye testing, Mystery shopping, market
segment specialists, etc...
Internal Suppliers can... (CH 2) Correct Answer: #1. Have own formal departments
#2 Have no formal dept. but place indiv/committee in charge of M.R
#3. Assign no one responsibility of M.R
External Suppliers may organize by... (CH 2) Correct Answer: #1. Function (data analysis/collection)
#2. Research Application (customer satisfaction, advertising effectiveness)
#3. Geography (domestic v international)
#4. Type of customer (health care, government, etc...)
Challenges in M.R Industry Today (CH 2) Correct Answer: #1. Issues w/ economy
#2. Drops in response rates
#3. Doesn't represent voice of consumer
#4. M.R is narrow minded
#5. Operates in a silo
Elements of ethics within M.R (CH 2) Correct Answer: Deontology and Teleology
Ethics: Deontology (CH 2) Correct Answer: Concerned w/ rights of individual
Ethics: Teleology (CH 2) Correct Answer: Analyzes behavior in terms of benefits/costs to society
Ethics: Sugging (CH 2) Correct Answer: Selling under guise of a survey (ILLEGAL)
Ethics: Frugging (CH 2) Correct Answer: Fundraising under the guise of a survey (unethical but legal)
11 Step Method of M.R Process (CH 3) Correct Answer: #1. Establish the need
#2. Define problem
#3. Establish objectives
#4. Determine design
#5. Identify sources
#6. Determine methods accessing data
#7. Design data forms
#8. Determine sample size
#9. Collect data
