IBM 3012 EXAM 1 STUDY GUIDE Latest Update

IBM 3012 EXAM 1 STUDY GUIDE Latest Update -from Credible Sources with 135 Questions and 100% Verified Correct Answers Guaranteed A+ Verified by Professor

analyzing qualitative data - CORRECT ANSWER: disadvantages: results may be difficult to measure objectively, time consuming, poor interpretation of open ended questions

advantages: substantial insight, participant can cover things that the researcher may not previously have thought of

analyzing quantitative data - CORRECT ANSWER: disadvantages: sampling errors, may be limited by researchers' questions, response rates can be very low

advantages: results may be generalizable to larger population, some method can be conducted quickly and inexpensively, analysis of data is faster, can be cost effective, can conduct causal studies that indicate why behaviors occur, often convenient for respondent

Big Data - CORRECT ANSWER: a term that describes both the growth in information

that inundates businesses each day and the complex tools use to analyze the data and derive meaningful insights

business-to-business marketing (B2B) - CORRECT ANSWER: marketing to

organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others

casual research - CORRECT ANSWER: attempts to understand cause-and-effect

relationships among variables

typical research method: quantitate 1 / 3

preferred data source: internal

cognitive dissonance: - CORRECT ANSWER: buyers remore

corporate social responsibility - CORRECT ANSWER: A company's commitment to

meeting the needs of its stakeholders

(internal: employees, managers, owners)

(external: suppliers, society, government, creditors, shareholders, customers)

country-of-origin effects - CORRECT ANSWER: the beliefs and associations people in one country have about goods and services produced in another country

customer value - CORRECT ANSWER: the perceived benefits, both monetary and

nonmonetary, that a customer receives from a product compared with the cost of obtaining it

derived demand - CORRECT ANSWER: demand for one product that occurs because

of demand for a related product

descriptive research - CORRECT ANSWER: asks the questions who, what, when,

where, and how

typical research: qualitative or quantitative

preferred data source: external or internal

direct competition (category competition or brand competition) - CORRECT ANSWER: a situation in which products that perform the same function compete against one another

• / 3

direct ownership - CORRECT ANSWER: domestic firm actively manages a foreign

company or overseas facilities

risks:

-it can be difficult to manage local resources from afar

advantages:

provides firm with more control over its intellectual property, advertising, pricing and product distribution

diversification - CORRECT ANSWER: a strategy of increasing sales by introducing new products into new markets

European Union (EU) - CORRECT ANSWER: An economic, political, and monetary

union among 28 European nations that created a single European market by reducing barriers to the free trade of goods, services, and finances.

evaluating alternatives:

attribute-based choice

affective choice

attitude based choice - CORRECT ANSWER: attribute-based choice: process in which consumers select a product based on attribute-by-attribute comparisons across brands

affective choice: process in which consumers make a choice based on how they think the product will make them feel

attitude- based choice: process that involves the use of general attitudes and summary impressions

• / 3