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BUSI 2204 MIDTERM EXAM STUDYGUIDE 2023 - BASIC MARKETING QUESTIONS AND ANSWERS
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BUSI 2204 MIDTERM EXAM STUDYGUIDE 2023 - BASIC MARKETING QUESTIONS AND ANSWERS
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Marketing 5th Edition Charles W. LambJoe F. HairCarl McDanielMarc BoivinDavid GaudetKim Snow Instructor Solution Manual
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Instructor Solution Manual For MKTG, 5th Edition Charles W. LambJoe F. HairCarl McDanielMarc BoivinDavid GaudetKim Snow Chapter(1-19)
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BUSI 2204 MIDTERM EXAM STUDYGUIDE 2023 - BASICMARKETING QUESTIONS AND ANSWERS
1) Despite the data glut that marketing managers receive, they frequently complain
that they lack ________.
A) enough information of the right kind
B) reliable information
C) timely information
D) accurate information
E) valid information - ANSWER: Answer: A
Diff: 1 Page Ref: 101
Skill: Concept
AACSB: Communication
2) Which of the following statements is NOT true regarding information collected by
marketers?
A) Managers lack information of the right kind.
B) Most managers do not need more information.
C) Most managers need better information.
D) Many managers are burdened by data overload.
E) Managers have the right information and they have enough of it. - ANSWER:
Answer: E
Diff: 1 Page Ref: 101
Skill: Concept
AACSB: Communication
3) A marketing information system (MIS) consists of people and procedures to assess
information needs, ________, and help decision makers analyze and use the
information.
A) experiment to develop information
B) test market the information
C) develop the needed information
D) critique the needed information
E) compare the needed information - ANSWER: Answer: C
Diff: 1 Page Ref: 102
Skill: Concept
AACSB: Communication
4) The real value of a company's marketing research and information system lies in
the ________.
A) amount of data it generates
B) variety of contact methods it uses
C) efficiency with which it completes studies
D) quality of customer insights it provides
E) marketing information system it follows - ANSWER: Answer: D
,Diff: 2 Page Ref: 102
Skill: Concept
AACSB: Communication
5) The marketing information system can serve ________.
A) the company's marketing managers
B) suppliers
C) resellers
D) marketing services agencies
E) all of the above - ANSWER: Answer: E
Diff: 2 Page Ref: 102
Skill: Concept
6) A good MIS balances the information users would ________ against what they
really ________ and what is ________.
A) need: like: feasible
B) like: can afford: needed
C) like to have: need: feasible to offer
D) need: can afford: useful
E) use: have to use: available - ANSWER: Answer: C
Diff: 2 Page Ref: 103
Skill: Concept
AACSB: Communication
7) Marketers must weigh carefully the costs of additional information against the
________ resulting from it.
A) organization
B) benefits
C) creativity
D) ethical issues
E) cost - ANSWER: Answer: B
Diff: 1 Page Ref: 103
Skill: Concept
8) Four common sources of internal data supplied to internal databases include the
accounting department, operations, the sales force, and the ________.
A) owners
B) stockholders
C) marketing department
D) competition
E) Web - ANSWER: Answer: C
Diff: 2 Page Ref: 103
Skill: Concept
AACSB: Communication
9) Marketing information from which type of database usually can be accessed more
quickly and cheaply than other information sources?
, A) external
B) LexisNexis
C) DataStar
D) internal
E) ProQuest - ANSWER: Answer: D
Diff: 1 Page Ref: 104
Skill: Concept
AACSB: Use of IT
10) ________ is the systematic collection and analysis of publicly available
information about consumers, competitors, and developments in the marketing
environment.
A) Marketing data
B) Marketing intelligence
C) Sales management
D) Customer intelligence
E) Competitive intelligence - ANSWER: Answer: B
Diff: 1 Page Ref: 104
Skill: Concept
11) Which of the following statements regarding marketing intelligence is true?
A) Marketing intelligence is privately held information.
B) The advantage of using competitive intelligence is negligible.
C) All marketing intelligence is free.
D) Marketing intelligence is publicly available information.
E) Marketing intelligence gathering is more focused on gaining insights into
consumer activities than competitors' activities. - ANSWER: Answer: D
Diff: 2 Page Ref: 104
Skill: Concept
12) Which of the following is NOT considered a source of marketing intelligence?
A) suppliers
B) resellers
C) key customers
D) causal research
E) activities of competitors - ANSWER: Answer: D
Diff: 2 Page Ref: 105
Skill: Concept
13) Which of the following is NOT a potential source for marketing intelligence?
A) competitors' garbage
B) competitors' products
C) competitors' sales data published in annual reports
D) primary data
E) discussions with purchasing agents - ANSWER: Answer: D
Diff: 2 Page Ref: 105
Skill: Concept
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