15) Secondary data can also be described as

1. Unrefined data
2. Data collected from respondents
3. Data collected from a survey
4. Data previously compiled for some purposes other than the current study

16) The combination of system, people and processes designed to collect, sort, analyze and present information for marketing purposes is called:

1. Management intelligence system
2. Marketing Information System
3. Management Information System
4. Marketing intelligence system

17) Among the decisions relating to a product that a company must make are the following:

1. Branding, labeling and packaging
2. Advertising, sales promotion and personal selling
3. Branding, labeling and advertising
4. Segmentation, positioning and strategy

18) Companies that can retain ____ by satisfying them better than the competitors will be more ____ in the long run;

1. Fewer customers, unprofitable
2. More customers, profitable
3. More customer base, unprofitable
4. More customers, stable

19) The stage in the new product development process where the marketing strategy, financial and revenue projections are done is:

1. Screening and evaluation
2. Business analysis
3. Idea generation
4. Commercialization

20) All of the following are true regarding the market except:

1. Only those who work in the traditional marketing department are charged with performing marketing activities
2. Any set of activities attempting to influence consumer choice is marketing
3. Marketing is involved whenever individuals or organizations have a choice to make
4. Any individual inside of an organization who can potentially win or lose customers is in marketing