Question 1

The two main types of data are

Accepted Answer

A) independent and dependent. 
B) primary and secondary. 
C) comprehension and case specific. 
D) extraneous and experimental. 
E) measurable and non-measurable. 
A) independent and dependent. 
B) primary and secondary. 
C) comprehension and case specific. 
D) extraneous and experimental. 
E) measurable and non-measurable. B

Question 2

Briefly explain the difference between a direct forecast and a lost-horse forecast.

Accepted Answer

A direct forecast involves estimating the value to be forecast without any intervening steps.A lost-horse forecast involves starting with the last known value of the item being forecast,listing the factors that could affect the forecast,assessing whether they have a positive or negative impact,and making the final forecast.

Question 3

J.D.Power and Associates and other market research firms recruit groups of consumers for ________,each of whom are paid to record all of their purchases on a regular basis.Businesses pay firms such as J.D.Power for their reports that answer the question,"How many times did our customers buy our products this year compared to last year?"

Accepted Answer

A) focus groups 
B) experiments 
C) syndicated panels 
D) curated data mining 
E) mall intercept interviews 
A) focus groups 
B) experiments 
C) syndicated panels 
D) curated data mining 
E) mall intercept interviews C

Question 4

________ surveys are usually biased because those most likely to respond are those who have had especially positive or negative experiences with the product or brand.

Accepted Answer

A) Personal interview 
B) Online 
C) Telephone 
D) Fax 
E) Mail 
A) Personal interview 
B) Online 
C) Telephone 
D) Fax 
E) Mail

Question 5

Once a market researcher has defined the problem,developed the research plan,and collected the relevant information,what is the next step in the five-step marketing research approach?

Accepted Answer

A) Set budgets. 
B) Determine target market. 
C) Take marketing actions. 
D) Develop findings. 
E) Determine if there is a planning gap between desired findings and actual findings. 
A) Set budgets. 
B) Determine target market. 
C) Take marketing actions. 
D) Develop findings. 
E) Determine if there is a planning gap between desired findings and actual findings.

Question 6

What is neuromarketing? What does it do? Why is it important to marketers?

Accepted Answer

Neuromarketing was developed by Martin L

Question 7

There are two key elements when defining a marketing research problem.One of these is

Accepted Answer

A) specify constraints. 
B) identify possible marketing actions. 
C) determine how to collect data. 
D) evaluate previous research results. 
E) identify desired solutions. 
A) specify constraints. 
B) identify possible marketing actions. 
C) determine how to collect data. 
D) evaluate previous research results. 
E) identify desired solutions.

Question 8

All of the following are true about data mining except which?

Accepted Answer

A) Because some of the information found on the Internet is factually incorrect,consumer profiles contain errors. 
B) Personal,private data on most Americans is available on the Internet. 
C) It is easy for others to find out your personal information through both online and offline sources. 
D) Businesses are required to inform consumers when they obtain their personal data. 
E) Many firms obtain consumer data by placing cookies on a person's computer or use tracking apps on a user's mobile phone. 
A) Because some of the information found on the Internet is factually incorrect,consumer profiles contain errors. 
B) Personal,private data on most Americans is available on the Internet. 
C) It is easy for others to find out your personal information through both online and offline sources. 
D) Businesses are required to inform consumers when they obtain their personal data. 
E) Many firms obtain consumer data by placing cookies on a person's computer or use tracking apps on a user's mobile phone.

Question 9

What is a panel? How is it used in marketing research? What disadvantages are associated with panels?

Accepted Answer

A panel is a sample of consumers or stor

Question 10

In evaluating whether its Facebook and Twitter social media programs are working well,Carmex considered using various marketing metrics.One metric it chose was ________,which provides the percentages of Internet Carmex mentions that are positive,neutral,or negative.

Accepted Answer

A) Carmex Twitter followers 
B) Carmex conversation velocity 
C) Carmex sentiment 
D) Carmex Facebook likers (or Fans or likes) 
E) Carmex share of voice 
A) Carmex Twitter followers 
B) Carmex conversation velocity 
C) Carmex sentiment 
D) Carmex Facebook likers (or Fans or likes) 
E) Carmex share of voice

Question 11

The field of marketing that studies the brain and its response to marketing stimuli is referred to as

Accepted Answer

A) psychological extrapolation. 
B) strategic hypothesizing. 
C) neuromarketing. 
D) consumer deduction. 
E) mental conjecture. 
A) psychological extrapolation. 
B) strategic hypothesizing. 
C) neuromarketing. 
D) consumer deduction. 
E) mental conjecture.

Question 12

The first step of the marketing research approach is to

Accepted Answer

A) develop findings. 
B) define the problem. 
C) take marketing actions. 
D) collect relevant information. 
E) develop the research plan. 
A) develop findings. 
B) define the problem. 
C) take marketing actions. 
D) collect relevant information. 
E) develop the research plan.

Question 13

Figure 8-4,Question 2
  
-A fixed alternative question requires respondents to select one or more response options from the set of predetermined choices.Another name for this kind of question is a(n)

Accepted Answer

A) dichotomous question. 
B) open-ended question. 
C) attitudinal question. 
D) closed-end question. 
E) semantic differential question. 
A) dichotomous question. 
B) open-ended question. 
C) attitudinal question. 
D) closed-end question. 
E) semantic differential question.

Question 14

A sales forecast refers to

Accepted Answer

A) the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts. 
B) sales goals based on past performances of individual sales representatives,used as motivation for productivity among this staff. 
C) the total sales from a product that could be generated with a hypothetical set of preferred environmental forces. 
D) the total industry sales generated by a product during a specified time period that results from specified environmental conditions. 
E) published information about competitors' sales from the NAICS. 
A) the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts. 
B) sales goals based on past performances of individual sales representatives,used as motivation for productivity among this staff. 
C) the total sales from a product that could be generated with a hypothetical set of preferred environmental forces. 
D) the total industry sales generated by a product during a specified time period that results from specified environmental conditions. 
E) published information about competitors' sales from the NAICS.

Question 15

One test of whether marketing research should be done is if

Accepted Answer

A) different outcomes will lead to different marketing actions. 
B) multiple changes can be implemented simultaneously. 
C) interpreting the data can be done using a jury of executive opinions. 
D) the decision to undertake it is unanimous. 
E) there is a budget for the research. 
A) different outcomes will lead to different marketing actions. 
B) multiple changes can be implemented simultaneously. 
C) interpreting the data can be done using a jury of executive opinions. 
D) the decision to undertake it is unanimous. 
E) there is a budget for the research.

Question 16

A publishing company sponsors a discussion session with seven college instructors who use a specific management textbook.The instructors meet with a moderator who asks their opinions about the textbook,its instructor's manual,and its video and written cases.This is an example of a(n)

Accepted Answer

A) jury of executive thought. 
B) consumer panel. 
C) information forum. 
D) focus group. 
E) depth interview. 
A) jury of executive thought. 
B) consumer panel. 
C) information forum. 
D) focus group. 
E) depth interview.

Question 17

A specialized observational approach in which trained observers seek to discover subtle behavioral and emotional reactions as consumers encounter products in their "natural use environment" is referred to as ________ research.

Accepted Answer

A) ethnographic 
B) cultural 
C) genealogical 
D) sociological 
E) physiological 
A) ethnographic 
B) cultural 
C) genealogical 
D) sociological 
E) physiological

Question 18

Observational data refer to

Accepted Answer

A) facts and figures newly collected for the project at hand. 
B) facts and figures obtained by asking people questions either through personal interviews,panel discussions,or questionnaires. 
C) facts and figures obtained by watching,either mechanically or in person,how people actually behave. 
D) facts and figures that have already been recorded from multiple sources before the project. 
E) conclusions developed from information obtained from a representative sample of a population. 
A) facts and figures newly collected for the project at hand. 
B) facts and figures obtained by asking people questions either through personal interviews,panel discussions,or questionnaires. 
C) facts and figures obtained by watching,either mechanically or in person,how people actually behave. 
D) facts and figures that have already been recorded from multiple sources before the project. 
E) conclusions developed from information obtained from a representative sample of a population.

Question 19

If a marketing manager queries his marketing databases to determine the effect of three different levels of price for a new product,he is using

Accepted Answer

A) action analysis. 
B) an environmental scan. 
C) a problem search. 
D) situational analysis. 
E) sensitivity analysis. 
A) action analysis. 
B) an environmental scan. 
C) a problem search. 
D) situational analysis. 
E) sensitivity analysis.

Question 20

Figure 8-5
-Figure 8-5 above shows how marketing researchers and managers use information technology to turn information into marketing actions.What does B represent?

Accepted Answer

A) external data sources 
B) results 
C) data warehouse 
D) internal data sources 
E) buying queries 
A) external data sources 
B) results 
C) data warehouse 
D) internal data sources 
E) buying queries

Exam 8: Marketing Research: From Customer Insights to Actions

The two main types of data are

Briefly explain the difference between a direct forecast and a lost-horse forecast.

________ surveys are usually biased because those most likely to respond are those who have had especially positive or negative experiences with the product or brand.

Once a market researcher has defined the problem,developed the research plan,and collected the relevant information,what is the next step in the five-step marketing research approach?

What is neuromarketing? What does it do? Why is it important to marketers?

There are two key elements when defining a marketing research problem.One of these is

All of the following are true about data mining except which?

What is a panel? How is it used in marketing research? What disadvantages are associated with panels?

In evaluating whether its Facebook and Twitter social media programs are working well,Carmex considered using various marketing metrics.One metric it chose was ________,which provides the percentages of Internet Carmex mentions that are positive,neutral,or negative.

The field of marketing that studies the brain and its response to marketing stimuli is referred to as

The first step of the marketing research approach is to

Figure 8-4,Question 2 -A fixed alternative question requires respondents to select one or more response options from the set of predetermined choices.Another name for this kind of question is a(n)

A sales forecast refers to

One test of whether marketing research should be done is if

A publishing company sponsors a discussion session with seven college instructors who use a specific management textbook.The instructors meet with a moderator who asks their opinions about the textbook,its instructor's manual,and its video and written cases.This is an example of a(n)

A specialized observational approach in which trained observers seek to discover subtle behavioral and emotional reactions as consumers encounter products in their "natural use environment" is referred to as ________ research.

Observational data refer to

If a marketing manager queries his marketing databases to determine the effect of three different levels of price for a new product,he is using

Figure 8-5 -Figure 8-5 above shows how marketing researchers and managers use information technology to turn information into marketing actions.What does B represent?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Market Segmentation, targeting, and Positioning

Developing New Products and Services

Managing Successful Products, services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising,sales Promotion,and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

Filters