Marketing Research Activities 4.04

1. What is the most significant reason why marketing research is important to businesses? A. It makes competitors take notice of the business. B. It improves financial management. C. It contributes to business success. D. It helps the business to base decisions on opinions.

2. How could a business use marketing- research data it has gathered about the average age, income, educational levels, and spending patterns of area consumers? A. To identify problems within the business B. To create a mailing list for the business C. To develop a profile of the typical customer D. To establish an appropriate operating budget

3. What is an advantage of using secondary data in a marketing-research project? A. Less expensive to collect than primary data B. More up-to-date than primary data C. Less likely to be available to competitors D. More relevant than primary data

4. Which statement about marketing research problems is true? A. Problems that company decision-makers identify are often just symptoms of larger problems that need to be researched. B. Company decision-makers typically finalize marketing research problems prior to involving marketing researchers. C. Marketing research problems are commonly based on specific research objectives and research instruments. D. Marketing research problems are usually only needed when marketing researchers plan to gather external information.

5. What is a benefit of having managers and researchers "on the same page" about the marketing-research problem? A. It allows the two parties to avoid establishing research objectives. B. It keeps the business from wasting resources. C. It ensures favorable results from the study. D. It improves the business's market share.