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Exam 2: The Marketing Research Industry

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Question 31

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One of the most compelling challenges for the marketing research industry is finding individuals who combine tech savviness and analytical skills with:

A) The ability to perform high-level statistical analysis.
B) The ability to understand new software technologies.
C) The ability to understand syndicated and social media data.
D) The ability to synthesize data and present it in a compelling way.

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Question 32

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GreenBook Research Industry Trends(GRIT)report provides insights by contrasting supplier marketing research firms' views on issues with buyer-client views.

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Question 33

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The five largest markets by country for marketing research are United States(42%),United Kingdom(12%),Germany(8%),India(6%),and China(4%)

The methodologies necessary to analyze the data from social media websites,the Internet of Things(IoT)and new kinds of syndicated data have the potential to provide valuable insights,but are not easy to develop and learn.

ESOMAR publishes an annual Global Market Research report,which examines perceived threats and attitudes toward changes in the industry,forecasts revenues,and profiles innovations.

The appeal of do-it-yourself research has to do with:

In the 1900s and 2000s,the wide availability and convenience of the Internet transformed all phases of the research process,from data collection to analysis to reporting.

With the multiple new types of data and methods now in use,marketing researchers not only need to be skilled at gathering and analyzing data but also at communicating results effectively.

Firms sometimes hire an outside marketing research company to conduct its research.This is referred to as:

The National Do Not Call Registry was established that allows U.S.residents to register their telephone numbers to be protected from receiving unsolicited telemarketing calls.

Which of the following is NOT a new source of data that have the potential to provide valuable insights?

After many years of relative stability in marketing research methods,the industry is undergoing great change due to:

In medium-size and smaller firms,the responsibilities of those in the market research department are primarily:

For the marketing research industry to evolve,there exists a need for researchers to:

A research firm that specializes in one,or,at most,a few marketing research activities is:

The marketing research industry is one of the few that does not rely on derived demand.

Do-it-yourself(DIY)research has been called the"democratization"of marketing research.Discuss the factors and reasons that it is considered to be one of the great emerging trends affecting client-side research departments.

In a recent survey by Quirk's,fully half of marketing research clients stated that they have had trouble with research suppliers who"did not take time to understand our business."

Firms specializing in different types of industries,such as airline,sports,or pharmaceuticals would be examples of limited-service supplier firms.

There are many new challenges facing the marketing research industry that have emerged in recent years.Some practitioners say the industry"must evolve."Describe and discuss some of the challenges facing the industry.