Question 1

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.

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

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.

Question 4

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.

Question 5

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.

Question 6

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.

Question 7

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.

Question 8

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

Accepted Answer

Neuromarketing was developed by Martin L...

Question 9

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 C

Question 10

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.

Question 11

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

Question 12

________ 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

Question 13

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.

Question 14

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.

Question 15

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 16

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.

Question 17

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. B

Question 18

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.

Question 19

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

Question 20

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

Exam 8: Marketing Research: From Customer Insights to Actions

The first step of the marketing research approach is to

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

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?

Correct Answer
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Observational data refer to

Correct Answer
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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

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

Correct Answer
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One test of whether marketing research should be done is if

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

Correct Answer
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Neuromarketing was developed by Martin L...
View Answer

Correct Answer
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C

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)

Correct Answer
verified

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.

Correct Answer
verified

________ 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.

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

Correct Answer
verified

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)

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

Correct Answer
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A panel is a sample of consumers or stor...
View Answer

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

Correct Answer
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The two main types of data are

Correct Answer
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B

A sales forecast refers to

Correct Answer
verified

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?

Correct Answer
verified

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.

Correct Answer
verified

Exam 8: Marketing Research: From Customer Insights to Actions

The first step of the marketing research approach is to

Correct AnswerverifiedShow Answer

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

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?

Correct AnswerverifiedShow Answer

Observational data refer to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One test of whether marketing research should be done is if

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedNeuromarketing was developed by Martin L...View AnswerShow Answer

Correct AnswerverifiedC

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)

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

________ 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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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)

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedA panel is a sample of consumers or stor...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

The two main types of data are

Correct AnswerverifiedB

A sales forecast refers to

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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Neuromarketing was developed by Martin L...
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C

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A panel is a sample of consumers or stor...
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B

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