Dylan Parker owns 27 acres on a farmstead in Iowa. Recently, as he was plowing a field, he came across a rich silver vein in the ground. Realizing his bounty, he decided to open a new business selling silver. Not knowing much about the marketing environment, he asks you what he should do. Which of the following is the BEST advice?
A.
Dylan should reach out to reseller markets to sell his silver quickly.
B.
Dylan should focus on farming and ignore the silver vein.
C.
Dylan should focus on the consumer market and sell silver directly for personal consumption.
D.
Dylan should focus on the business market and sell the raw silver for further processing.
E.
Dylan should set his attention to the government markets.
Answer: Dylan should focus on the business market and sell the raw silver for further processing
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Marketing Chapter 3
- Which of the following is an abstract idea inferred from specific instances that are thought to be related?
- Which of the following is NOT true of a good research objective?
- In creating research objectives, researchers should keep which four important qualities of objectives in mind?
- Which of the following is true of marketing MANAGERS?
- A(n) ________ is a definition of a construct.
- Your authors list memory, relevance and believability as examples of ________.
- A(n) ________ is the predesignation of some quality of a measured attribute necessary for a predetermined action to take place.
- Differences between the current information state and the desired information state are known as:
- The quantity and quality of evidence a manager possesses for each of his or her assumptions is known as the:
- _____ are statements that are taken for true for the purposes of argument or investigation.
- _____ are important and deserve researcher attention because they are the glue that holds the decision process together.
- When defining the problem the manager and the researcher make assertions that certain conditions exist or that certain reactions will take place if the considered solutions are implemented. These assertions are known as:
- _____ are the results of marketing actions.
- Which of the following is a possible decision alternative (as discussed in the book)?
- When defining the problem it is important:
- Which of the following questions should researchers ask when assessing symptoms?
- Your text identified an ethical issue in marketing research by pointing out that it is unethical for a firm to send out phony ________ simply to get ideas for conducting their own research.
- In the world of research, RFP stands for:
- To help managers properly define the problem the researcher may conduct their own investigation to develop alternative problem definitions. This additional investigation may take the form of what is called:
- Which of the following best describes the role of the researcher in problem definition?
- Which of the following is a key monitor that measures the achievement of an objective?
- For managers to recognize an opportunity they must have a system for monitoring opportunities sometimes referred to as:
- One of the most successful publishing firms in college textbook history was started when Richard D. Irwin saw, while reading the U.S. Statistical Abstract, the rapid rise in college of business enrollments following World War II. This success was a result of Irwin recognizing:
- Which of the following will we use if the source of our problem is the failure to meet an objective?
- Which of the following is true regarding good managers and the need to recognize problem sources?