Research and Strategy in Business MCQs
Research and Strategy in Business MCQs
Try to answer these 30+ Research and Strategy in Business MCQs and check your understanding of the Research and Strategy in Business subject. Scroll down and let's begin!
1: Big data is a huge amount of information that shows conclusions via _____ ?
A. Artificial intelligence
B. Machine Learning
C. Both a and b
D. None of these
2: Cognitive dissonance is the conflict (i.e., remorse) that buyers feel _____ making a major purchase.
A. Before
B. After
C. Both a and b
D. None of these
3: The group of _____ that comes to a customer’s mind when she thinks of a type of product is called Evoked Set.
A. Brands
B. Businesses
C. Products
D. All of these
4: Individualized marketing is adjusting the marketing mix of a business to treat individual persons as United target markets.
A. True
B. False
5: Marketing strategy is What the marketing efforts of a business are intended to accomplish and how the business will achieve its _____,
A. Goals
B. Ideals
C. Missions
D. All of the above
6: Market research is the process of gathering information about _____ that will improve marketing efforts.
A. Consumers
B. Producer
C. Manufacturer
D. Merchandiser
7: Market segmentation is breaking down populations of people into _____ markets.
A. Groups
B. Target
C. Company
D. Both a and b
8: Treating entire populations of people as potential customers for specific products is called?
A. Mass Marketing
B. Niche Marketing
C. Segment Marketing
D. All of the above
9: Niche marketing is segmenting populations of people into larger target markets.
A. True
B. False
10: Primary data is the marketing data that a business collects for its own _____.
A. Specific purposes
B. Vague purposes
C. General Purposes
D. All of the above
11: The philosophy of a business that concentrates more on the customers that the business makes than on product needs.
A. True
B. False
12: _____ is the philosophy of business that concentrates on establishing a long-term buyer–seller relationship for the benefit of both parties.
A. Mass Marketing
B. Niche Marketing
C. Segment Marketing
D. Relationship Marketing
13: Sales forecast is the quantity of products a business plans to sell during a _____ period.
A. Past Time
B. Present Time
C. Future Time
D. All of the above
14: Secondary data is the marketing data that has been _____ available by an outside source.
A. Gathered
B. Tabulated
C. Made
D. All of the above
15: Segmentation variables are the _____ to group people who are more likely to purchase a product.
A. Characteristics
B. Ways
C. Both a and b
D. None of these
16: Select the correct statements about target markets:
A. Groups of people who have a common want or need that your business can satisfy.
B. Groups of people who are able to purchase your product.
C. Groups of people who are more likely to buy from your business.
D. All of the above
17: ______ is the remorse that potential buyers feel after making a major purchase.
A. Purchase remorse
B. Cognitive dissonance
C. Post-purchase stress
D. Cognitive dispersion
18: Potential problems with ______ is that it may not be specific or detailed enough for the needed purpose.
A. Preliminary information
B. Primary information
C. Secondary information
D. Subsequent information
19: Arthur, a grocery store manager, politely asks customers to fill out a three-question survey about their shopping experience as they are leaving the store. The data collected from these surveys would best be described as ______.
A. Tertiary data
B. Secondary data
C. Primary data
D. Relative data
20: The first step in the decision-making process that leads to a purchase is ______.
A. Problem recognition
B. Information search
C. Alternate evaluation
D. Post-purchase evaluation
21: Sandra is excited about going shoe shopping with her friends later in the day. Before she goes, she thinks about the stores she wants to visit and the brands that she would like to try. These are all part of Sandra’s ______.
A. Evoked set
B. Cognitive dissonance
C. Black box
D. Market segment
22: Secondary data can be defined as being ______.
A. Data sources which are not as good as the initial data found
B. Data sources which already exist
C. Data sources which should be listed after primary data sources in the bibliography
D. Data sources which must be collected by the researcher and analyzed
23: Buyer’s remorse is also known as ______.
A. Evoked set
B. Cognitive dissonance
C. Black box consumer behavior
D. Market segmentation
24: Marketing data that a business collects for its own specific purposes is referred to as ______.
A. Primary data
B. Secondary data
C. Tertiary data
D. Quantitative data
25: Which of the following is a black box influence that is internal to the consumers’ mind?
A. Demographic factors
B. Lifestyle
C. Method of payment
D. Motives and needs
26: Primary data that cannot be analyzed statistically is called ______.
A. Quantitative data
B. Qualitative data
C. Objective data
D. Perfect data
27: The philosophy of a business in which the wants and needs of customers are determined before goods and services are produced is referred to as the ______.
A. Marketing concept
B. Production concept
C. Relationship concept
D. Demand concept
28: Qualitative data produces useful results if the researcher is looking for ______.
A. A yes or no answer
B. A numerical bottom line answer
C. Open-minded responses to probing questions
D. A statistical analysis
29: The process of determining what the responses to research mean is referred to as ______.
A. Problem identification
B. Information overload
C. Information inquiry
D. Data analysis
30: Employees at People First Credit Union are encouraged by management to establish long-term buyer–seller relationships. They strive to learn each customer’s name so that they can be greeted as they walk in the door. This is an example of which business concept?
A. Marketing concept
B. Production concept
C. Relationship marketing
D. Customer marketing
31: Alex is creating a marketing plan for his best friend’s restaurant. He visits the local library to gather data on the restaurant industry. Alex is collecting what kind of data?
A. Primary data
B. Secondary data
C. Tertiary data
D. Qualitative data
32: _________ has/have helped firms to concentrate on their core business.
A. B2B
B. Radio frequency identification tags.
C. E-commerce.
D. Outsourcing
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Research and Strategy in Business MCQs
