Question 1

After defining the problem, the next step of the marketing research approach is to

Accepted Answer

A)   develop findings.
B)   gather resources.
C)   take marketing actions.
D)   develop the research plan.
E)   collect relevant information.F) All of the above
G) A) and B)

Question 2

The Internet website USA.gov

Accepted Answer

A)   is a repository of information on U.S. business, economic, and trade activity collected by the federal government.
B)   is a portal to all government websites that can be found by topic or keyword.
C)   provides up-to-the-minute business news and security prices plus research reports of companies, industries, and countries.
D)   is the most popular Internet portal to enter keywords or topics for specific searches.
E)   accesses information in online databases and an index of blogs by primary topic.F) All of the above
G) A) and B)

Question 3

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.F) C) and D)
G) B) and D)

Question 4

Briefly explain what a marketing driver is. Give three examples.

Accepted Answer

A marketing driver is a factor that infl...

Question 5

When Fisher-Price managers attempted to redesign its classic toy, the Chatter Telephone, they considered adding a noisemaker, wheels, and eyes to a basic plastic telephone, and thus they developed several

Accepted Answer

A)   virtual prototypes.
B)   product substitutes.
C)   product hypotheses.
D)   new-product concepts.
E)   new-feature matrices.F) C) and D)
G) B) and D)

Question 6

In trend extrapolation, the forecasting technique that involves using a straight line is called

Accepted Answer

A)   causal analysis.
B)   non-parametric regression.
C)   planning gap analysis.
D)   infinite dimension.
E)   linear trend extrapolation.F) B) and E)
G) A) and E)

Question 7

The data that are collected with a "people meter" and later published by Nielsen as national TV ratings are an example of ________ data when gathered.

Accepted Answer

A)   internal secondary data
B)   interactive industry data
C)   curated promotional data
D)   mechanical observational data
E)   sensitivity dataF) A) and C)
G) B) and D)

Question 8

When First Western Bank sent surveys via mail to its savings accounts-only customers to ask why they did not also have checking accounts and credit cards with First Western, they were gathering ________ data.

Accepted Answer

A)   intercept
B)   secondary
C)   questionnaire
D)   observational
E)   nonprobabilityF) A) and E)
G) B) and C)

Question 9

Trend extrapolation involves

Accepted Answer

A)   extending a pattern observed in past data into the future.
B)   selecting specific points on a graph of sales or market share, multiplying by the cost of living index, and allowing for a variation of plus or minus 3 percent.
C)   averaging the total sales or market share for the previous five years and multiplying that number by the expected GDP growth rate for the next year (say 1.5 percent)  to arrive at the next year's forecast.
D)   selecting a given percentage and using that number as a yearly predictive base regardless of changes in sales, revenue, or market share.
E)   collecting projections from all regional sales managers and making the final projection.F) None of the above
G) B) and E)

Question 10

Figure 8-2
-Figure 8-2 above shows that secondary data may be divided into two related parts. If B represents data collected from the U.S. Census Bureau, trade association studies, business periodicals, etc., which type of data is B?

Accepted Answer

A)   compiled data
B)   mined data
C)   internal secondary data
D)   external secondary data
E)   observational dataF) A) and B)
G) A) and E)

Question 11

Figure 8-8
-Figure 8-8 above depicts which type of statistical forecasting (line A) ?

Accepted Answer

A)   causal analysis
B)   non-parametric regression
C)   curvilinear extrapolation
D)   infinite dimensionE) A) and B)
F) B) and C)

Question 12

LEGO Group designers created MINDSTORMS®kits to appeal to middle school kids, among others. When attempting to choose between potential designs, what was the measure of success for use by LEGO Group in this instance?

Accepted Answer

A)   age
B)   gender
C)   assembly time
D)   cost
E)   advertisingF) B) and E)
G) A) and E)

Question 13

The type of question you are answering right now is an example of ________ question.

Accepted Answer

A)   a Likert scale
B)   a dichotomous
C)   an open-ended
D)   a fixed-alternative
E)   a semantic differentialF) B) and D)
G) C) and D)

Question 14

What are two common constraints in marketing problem solving?

Accepted Answer

A)   limitations of personnel and office space
B)   limitations of the strategic thinking and creativity of the firm's advertising agency
C)   limitations on the time and money available
D)   government regulations and right to privacy
E)   limitations on access to primary and secondary researchF) C) and D)
G) B) and E)

Question 15

What type of scale is this? Indicate your degree of agreement with the following statement: "Marketing is an interesting subject" by checking one of the responses. ()  Strongly Agree ()  Agree ()  Disagree ()  Strongly Disagree

Accepted Answer

A)   semantic differential scale
B)   dichotomous question
C)   open-ended question
D)   Likert scale
E)   attitudinal questionF) A) and B)
G) All of the above

Question 16

A firm using a test market to determine which pricing strategy results in highest sales for a new line of watches is an example of which type of marketing research?

Accepted Answer

A)   descriptive
B)   explanatory
C)   exploratory
D)   causal
E)   concreteF) B) and E)
G) C) and D)

Question 17

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

Accepted Answer

A direct forecast involves estimating th...

Question 18

Google

Accepted Answer

A)   is a repository of information on U.S. business, economic, and trade activity collected by the federal government.
B)   is to the most direct way to access all government websites.
C)   provides up-to-the-minute business news and security prices plus research reports of companies, industries, and countries.
D)   is the most popular Internet portal where users can enter keywords for specific searches.
E)   accesses information in online databases and an index of blogs by primary topic.F) A) and B)
G) A) and C)

Question 19

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 quantifies the number of Carmex mentions on the Internet as a percentage of all mentions of major lip balm brands.

Accepted Answer

A)   Carmex sentiment
B)   Carmex Twitter followers
C)   Carmex conversation velocity
D)   Carmex Facebook likes
E)   Carmex share of voiceF) A) and D)
G) A) and C)

Question 20

How do movie studios use marketing research?

Accepted Answer

Studios producing and marketing films em...

Exam 8: Marketing Research: From Customer Insights to Actions

Trend extrapolation involves

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedA direct forecast involves estimating th...View AnswerShow Answer

A firm using a test market to determine which pricing strategy results in highest sales for a new line of watches is an example of which type of marketing research?

Correct AnswerverifiedShow Answer

Figure 8-8 -Figure 8-8 above depicts which type of statistical forecasting (line A) ?

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The type of question you are answering right now is an example of ________ question.

Correct AnswerverifiedShow Answer

What type of scale is this? Indicate your degree of agreement with the following statement: "Marketing is an interesting subject" by checking one of the responses. () Strongly Agree () Agree () Disagree () Strongly Disagree

Correct AnswerverifiedShow Answer

How do movie studios use marketing research?

Correct AnswerverifiedStudios producing and marketing films em...View AnswerShow Answer

In trend extrapolation, the forecasting technique that involves using a straight line is called

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

LEGO Group designers created MINDSTORMS®kits to appeal to middle school kids, among others. When attempting to choose between potential designs, what was the measure of success for use by LEGO Group in this instance?

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 quantifies the number of Carmex mentions on the Internet as a percentage of all mentions of major lip balm brands.

Correct AnswerverifiedShow Answer

Briefly explain what a marketing driver is. Give three examples.

Correct AnswerverifiedA marketing driver is a factor that infl...View AnswerShow Answer

Figure 8-2 -Figure 8-2 above shows that secondary data may be divided into two related parts. If B represents data collected from the U.S. Census Bureau, trade association studies, business periodicals, etc., which type of data is B?

Correct AnswerverifiedShow Answer

The data that are collected with a "people meter" and later published by Nielsen as national TV ratings are an example of ________ data when gathered.

Correct AnswerverifiedShow Answer

The Internet website USA.gov

Correct AnswerverifiedShow Answer

Google

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What are two common constraints in marketing problem solving?

Correct AnswerverifiedShow Answer

When First Western Bank sent surveys via mail to its savings accounts-only customers to ask why they did not also have checking accounts and credit cards with First Western, they were gathering ________ data.

Correct AnswerverifiedShow Answer

When Fisher-Price managers attempted to redesign its classic toy, the Chatter Telephone, they considered adding a noisemaker, wheels, and eyes to a basic plastic telephone, and thus they developed several

Correct AnswerverifiedShow Answer

After defining the problem, the next step of the marketing research approach is to

Correct AnswerverifiedShow Answer

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A direct forecast involves estimating th...
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Studios producing and marketing films em...
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A marketing driver is a factor that infl...
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