Deck 1: Marketing Research for Managerial Decision Making

Question 1

Which of the following statements is true about marketing research firms?

A)Standardized research firms offer brand name testing as their only service.
B)Customized research firms include data made or developed from a common data pool or database.
C)Syndicated business services offer all types of general services.
D)A database established through optical scanner methods is an example of syndicated business services.
E)Market research firms are susceptible to company regulations and politics.

Answer 1

D

Question 2

The main purpose of an executive dashboard is to:

A)share summary information on key performance indicators with the decision-makers.
B)share all information about executives working in the company.
C)share information relating to current marketing research projects.
D)share business results with the customers.
E)share summary information on key performance indicators with all employees.

Answer 2

A

Question 3

Marketing strategy design includes all of the following, EXCEPT:

A)test marketing.
B)positioning.
C)concept and product testing.
D)market opportunity assessment.
E)target marketing.

Answer 3

D

Question 4

Acme Corporation surveys its consumers to determine how they view the similarities and dissimilarities among relevant product attributes for a set of competing brands. This is an example of:

A)pricing strategy research.
B)distribution strategy research.
C)positioning research.
D)market segmentation research.
E)retailing research.

Question 5

Which of the following is an example of importance-performance analysis?

A)Nike analyzing McDonald's success factors.
B)A consultant researching on expenses of a company.
C)HP working on improvement of its distribution channels.
D)Blackberry analyzing iPhone's success factors.
E)A firm analyzing its performance with respect to return on investment.

Question 6

DC Tech is a market research firm without many clients. So, when a new client approached them, DC Tech decided to capture this new client. Which of their following actions is NOT necessarily unethical?

A)It sold unnecessary research services to the client.
B)It did not provide the promised incentives to the respondents and pocketed the money.
C)After quoting a set price for a proposal, it billed "soft" costs separately.
D)It stated a 15-minute interview as a two-minute survey to get respondents.
E)It proposed branded "Black Box methodologies".

Question 7

Marketing research depicts the Harley-Davidson motorcycle shopper as a middle-aged, college educated individual with an average annual income of $78,000. This is an example of:

A)market analysis.
B)pricing strategy research.
C)positioning research.
D)market segmentation research.
E)retailing research.

Question 8

A manufacturing firm in the Beverages sector wants data pertaining to its nutritious drink, Health-O. A relevant market analysis study would involve all of the following, EXCEPT:

A)talking to dieticians and experts in the field of nutrition.
B)analyzing information available on national databases.
C)looking for "tweets" or "threads" in websites relating to health drinks and dieting, and analyzing them.
D)taking a survey on the 'Significance of Health drinks in daily diet'.
E)looking for information in an investor's business daily magazine.

Question 9

Market research studies that are unique to retailers include all of the following, EXCEPT:

A)trade area analysis
B)store image / perception studies
C)in store traffic patterns
D)location analysis
E)customer satisfaction studies

Question 10

Macroenvironmental trends influence the product market. A local bookstore is planning expansion. Which of the following macroenvironmental trend will not be a deciding factor in conducting a market analysis?

A)Increased online purchasing.
B)Price cuts by a supermarket selling books.
C)Environmental agencies advocating reduced consumption of paper.
D)A new government regulation mandating a 5% increase in bookstore employee wages.
E)Book readers increasingly preferring digital or e-books.

Question 11

Which of the following is NOT a distribution decision?

A)Increasing the number of outlets in a particular city.
B)Working with a logistics partner to reduce order-to-delivery time.
C)Conducting trade-area analysis and location analysis.
D)Reducing promotion costs.
E)Analyzing in-store traffic patterns.

Question 12

Tazoo Inc. is known for its trendy and fashionable clothing accessories. In order to keep track of emerging trends and changing consumer preferences, Tazoo's marketing team, consisting of Anna, Bill, Cathy, Denver, and Eric, undertook marketing research surveys. Which of these is NOT part of the marketing research process?

A)Cathy and Anna collected data from households with two or more kids in their locality.
B)Bill designed a new method for data collection.
C)Denver, the expert in statistical tools analyzed the data collected by Cathy and Anna.
D)Eric, the team leader, implemented the actions based on the findings.
E)Eric submitted the findings of the survey in the form of a written report to the management.

Question 13

Which of these activities is NOT part of market situation analysis?

A)Deciding new product opportunities.
B)Collecting information on the electronic items market.
C)Analyzing purchase patterns of people visiting a store.
D)Collecting information on brand preferences for college students.
E)Researching on why the competitor's products sell better.

Question 14

Customer satisfaction research:

A)is used to evaluate competitors' strategies and future plans.
B)is the desired perception that a company wants its target market to associate to relative to its product.
C)helps determine the most efficient way of serving the targeted group.
D)is designed to assess strengths and weaknesses in a firm's marketing mix.
E)helps evaluate the effectiveness of cycle-time research.

Question 15

A new supermarket, The Factory, has installed closed circuit cameras and TVs to find out the category of products and the specific brands favored by customers. This is done so that space allocated to different products can be revised. This is an example of:

A)mystery shopper study.
B)cycle time research.
C)retailing research.
D)logistical assessment.
E)demand analysis.

Question 16

When Cheetos became the first major brand of snack foods to be made and marketed in China, product taste tests revealed that the traditional cheese-flavored corn puffs did not appeal to Chinese consumers. This is an example of:

A)pricing strategy research.
B)perceptual mapping research.
C)positioning research.
D)competition analysis.
E)new-product planning research.

Question 17

Which of the following is NOT a pricing decision?

A)How large is the demand potential at a given price?
B)How sensitive is demand to changes in price levels?
C)What is the most effective way of communicating a price increase?
D)What are sales forecasts at various price levels?
E)What should be the price for introducing a new product?

Question 18

A market researcher is conducting a product portfolio analysis. This process would help the marketing manager do all of the following, EXCEPT:

A)changing or deleting product lines.
B)determining retail channels for the company's product portfolio.
C)examining if customers are satisfied with the company's offerings.
D)brand repositioning and new product introductions.
E)determining service quality.

Question 19

A marketing firm launched a major advertising campaign to position their brand as superior to its competitors. After the campaign had run for six months, the marketing team wanted to use marketing research to determine if they had achieved their objective. Which of the functions of marketing research is carried out by the firm?

A)Development of marketing actions
B)Identification of market problems
C)Refinement of marketing actions
D)Identification of market-driven opportunities
E)Evaluation of marketing actions

Question 20

Which of the following is NOT an example of target marketing?

A)A detergent manufacturer sees the need to include a stain remover formula in its detergents.
B)A company has grouped its customers according to age and gender.
C)A car rental company extending into luxury car rentals has targeted car enthusiasts as its customers.
D)A restaurant intending to find out the preferences of its competitor's customers.
E)An insurance company focusing on risk-averse people to sell its policies.

Question 21

Customer satisfaction research is designed to assess strength and weaknesses in a firm's marketing mix.

Question 22

A researcher did not interview the required number of people, thinking about the travel expenses he could save on, and faked the answers by making up 'observed' responses through his experience and scaling. This is called curbstoning.

Question 23

The process of identifying people or markets a company wants to serve is called positioning.

Question 24

Market segmentation, market targeting, and positioning are all part of the marketing strategy design.

Question 25

External research suppliers are more objective and less subject to company politics and regulations than internal suppliers.

Question 26

Data from syndicated business services can be customized for a variety of industries.

Question 27

Black-box methodologies are proprietary.

Question 28

Given the non-linear nature of marketing research, it is not a very systematic process.

Question 29

The three most common research tasks of integrated marketing communications are advertising effectiveness studies, attitudinal research, and sales tracking.

Question 30

Which of the following is ethical in marketing research practices?

A)Sugging.
B)Frugging.
C)Curbstoning.
D)De-briefing.
E)De-anonymizing.

Question 31

Dashboards increase the likelihood of successful customer relationship management programs.

Question 32

Optical scanning methods helps retailers select the kind of merchandise to stock and what factors may influence purchase decisions.

Question 33

All of these are unethical activities on the part of the researcher, EXCEPT:

A)padding expenses.
B)deceiving respondents about the true purpose of the study.
C)not fully informing subjects about certain aspects of the research.
D)not telling subjects about the sponsorship of the research.
E)overstating research findings.

Question 34

The three common approaches used by marketing researchers in the collection of macroenvironmental information are content analysis, small group experimental designs, and formal rating procedures.

Question 35

The question "What is the most effective way of communicating a price increase?" is considered while making a pricing decision.

Question 36

A research focusing on obtaining customer characteristics, product benefits, and brand preferences is termed as benefit and lifestyle studies, and is used in market segmentation research.

Question 37

Frugging means:

A)claiming that a survey is for research purposes and then asking for a sale or donation.
B)fully explaining to respondents any deception that was used during research.
C)using the data collection personnel to fill out surveys for fake respondents.
D)combining different publicly available information, usually unethically, to determine consumers' identities, especially on the Internet.
E)conducting research below professional standards.

Question 38

A typical executive dashboard displays several KPIs. KPI stands for Key Parameters of Interest.

Question 39

All of the following are considered unethical behaviors by the respondents, EXCEPT:

A)refusing to fill in the questionnaire.
B)willfully giving a wrong answer.
C)claiming to be 25 years old when she is actually 49.
D)randomly circling responses without reading the questions.
E)filling out surveys with the prospect of earning money.

Question 40

All of the following are guidelines provided by the Marketing Research Association (MRA), EXCEPT:

A)prohibiting clickstream tracking.
B)posting a privacy policy to explain how data is used.
C)prohibiting market researchers from de-anonymizing data.
D)discontinuing follow-up e-mails if requested by respondents.
E)removing identifying information from the data file.

Question 41

A chocolate manufacturing company wanted to interrogate children of the age group 5 - 10. So as to get more respondents, the researchers gave incentives to the parents and forced the children to answer their questions. This is not necessarily unethical.

Question 42

What are the key skills that recruiters look for in a candidate when they are hiring for marketing researcher positions?

Question 43

Explain the types of marketing research firms.

Question 44

What are some of the major emerging trends in the field of marketing research?

Question 45

Frugging leads to consumers turning down legitimate research inquiries because they do not want to be solicited.

Question 46

It's acceptable to collect information on consumer preferences using Cookies, while at the same time maintaining consumer privacy with respect to identity.

Question 47

If a respondent does not want the researcher to find out the truth, it is ethical for the respondent to lie on a survey.

Question 48

Describe the importance-performance analysis.

Question 49

Describe the purposes of marketing research within the context of situation analysis.

Question 50

Subject debriefing means claiming that a survey is for research purposes and then asking for a sale or donation.