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Exam 4: Conducting Marketing Research

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Question 1

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The key ratio to watch in annual-plan control to make sure that the company is not overspending to achieve sales goals is the marketing expense-to-sales ratio.

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Question 2

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A sales budget is a conservative estimate of the expected volume of sales used primarily for making current purchasing, production, and cash-flow decisions.

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Question 3

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List four external marketing metrics that will be useful for both the brand manager and senior management of a company like Procter and Gamble.

The return on net worth is the product of two ratios: the company's return on assets and its asset turnover ratio.

A marketing manager, during an annual planning meeting, would like to have the department's staff examine the set of consumers who have interest, income, and access to the company's offers. The staff will need to examine information about the ________ in order to do what it has been asked to do.

Companies normally budget marketing research at ________ percent of company sales.

To deepen understanding, marketers can conduct multivariate analyses to sort through how each marketing element influences marketing outcomes such as brand sales or market share.

The best example of a specialty-line marketing research firm is the field-service firm, which sells field interviewing services to other firms.

With respect to past-sales analysis, econometric analysis consists of projecting the next period's sales by combining an average of past sales and the most recent sales, giving more weight to the latter.

The Bledsoe Marketing Research group has been hired to administer a series of closed-ended questions to shoppers in a local mall. If questions on a survey have only two possible answers (such as "yes/no" questions), what type of closed-ended questions are these?

A set of measures that helps firms to quantify, compare, and interpret their marketing performance is called marketing metrics.

Which of the following ways to measure market share would be seen as the company's sales expressed as a percentage of total market sales?

A good example of collecting behavioural data would be when a store uses scanners to read bar codes on products selected by consumers.

Which of the following is used to assess people's knowledge, beliefs, preferences, and satisfaction and to measure these magnitudes in the general population?

Some marketers prefer more ________ methods for gauging consumer opinion because consumer actions do not always match their answers to survey questions.

A marketing research firm intends to ask consumers a question that reads "Do you intend to buy a automobile within the next six months?" Consumers could respond in several ways including no chance, slight possibility, fair possibility, good possibility, high possibility, and certain. Which of the following terms most accurately categorizes the type of scale that the marketing researcher will want to use to aid their forecasting?

________ are data that were collected for another purpose and already exist somewhere.

A good illustration of a syndicated-service research firm is Nielsen Company.

One of the don'ts of questionnaire construction is to ensure that fixed responses do not overlap. Which of the following is the best illustration of this questionnaire "don't"?

During which phase of the marketing research process will the marketing manager most likely calculate the cost of the marketing research plan and how would he/she determine the maximum that should be spent on the project?