Exam 7: Marketing Research: From Customer Insights to Actions

DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to have a prediction of how successful its sales efforts will be. The first thing researchers did was invite in a group of eight insured people to talk about home and auto insurance. Their conversations were recorded and later analyzed to determine if there were any differences between customers from different markets. This was an example of a(n)

-Consider Figure 7-3 above, which is based on data collected from mechanical observations through the use of __________ to prepare Nielsen Media Research's Nielsen Television Index Ranking Report.

Information technology refers to

Research and media firm Youth Culture publishes Watch magazine, a teen publication given out free to high school students. Unfortunately, the publication was unable to gauge whether or not it was meeting the needs of its audience. Youth Culture handed out surveys to learn how students felt about the publication. Feedback indicated teen boys and girls were demanding very different things from the publication. This feedback was gleaned from __________ data.

Sampling and statistical inference are special __________, which are vital in marketing research to solve all or part of a problem.

Primary data refer to

A __________ is a sample of consumers or stores from which researchers take a series of measurements.

3. If you answered 'yes' to question 2, how often do you eat at a fast-food restaurant? $\square\text {Once a week or more } \quad\quad\quad\quad\square \text { 2 to 3 times a month }\quad\quad\quad\square \text {Once a month or less}$ -Consider Figure 7-4: Question 3 above, which was part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers. Question 3 illustrates which type of question format?

Making action recommendations, implementing action recommendations, and evaluating results take place during which step of the five-step marketing research approach?

-Figure 7-3 above shows the top ten prime-time broadcast TV shows during a recent May sweeps week. Advertisers like Sears use the Nielsen Television Ranking Index Report from Nielsen Media Research to identify the ratings of the top TV programs so they can make informed advertising media purchase decisions. For which TV program would you expect Sears to pay the most, presuming its demographics match those of its target audience?

Mall intercept interviews refer to

In __________, the marketing researcher tries to test ideas discovered earlier to help the marketing manager recommend marketing actions.

A direct forecast involves estimating the value to be forecast and

The two aspects of the process for evaluating the results of a marketing decision are evaluating the decision itself and __________.

Trend hunting is the practice of identifying "emerging shifts in social behavior," which are driven by changes in pop culture that can lead to new products. Trend Hunter has identified over 200,000 __________ through its global network of 118,000 members.

__________ 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.

Trend extrapolation involves

Briefly explain what a marketing experiment is. Include the definitions of dependent and independent variables and give examples of each.

Melanie manages a local store for a national drug store chain, and had received complaints from several customers about rude employees. To check on her customer service, Melanie hired a team of researchers, who posed as customers shopping in the store. Occasionally, they bought something, but their primary purpose was to take notes and record the actions of the service staff. The research notes Melanie received were a form of __________ data.

-Figure 7-5 above shows how marketing researchers and managers use information technology to turn information into marketing actions. What does D represent?