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Exam 7: Marketing Research: From Customer Insights to Actions

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Question 71

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Which of the following statements concerning marketing research is most accurate?

A) The primary purpose of marketing research is to collect data for historical purposes.
B) When collecting marketing research, people may be reluctant to tell you what you want to know.
C) Marketing research, if done properly, will always result in a positive marketing result.
D) People are just as able to give accurate information about products they have only heard about as those they have actually used.
E) Among those people who participate in market research studies, there is an almost perfect correlation between a respondent's stated intentions and his/her actual buying behavior.

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Question 72

Multiple Choice

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Which of the following would be best used to forecast the opening weekend box office sales for a new movie?

A) test screenings
B) demographic analysis
C) portfolio analysis
D) advanced promotions
E) tracking studies

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Question 73

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A(n) __________ is a type of forecast that involves estimating the value to be forecast without any intervening steps.

GI Designs,a copper furniture manufacturer,increased the price on its copper tabletops by 20 percent for three months to see what the effect would be on its sales.The change in sales is the __________ in this three-month experiment.

Figure 7-1 -According to Figure 7-1,what does B represent in the marketing research process?

DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell insurance and deal with claims.It wants to pursue new markets,but with some idea of how successful its sales efforts will be.Researchers invited a group of eight insured people to its headquarters to discuss their attitudes about home and auto insurance and awareness of DirectProtect.Responses were gathered on paper as __________ data.

According to research conducted by Canadian cultural anthropologists,Canadians place a high importance on personal relationships.This leads them to be extremely reluctant to buy through an impersonal medium like a telephone.For an insurance company that was hoping to sell insurance through telemarketers,this research would be an example of

Marketing research refers to

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

A decision refers to

Figure 7-1 -According to Figure 7-1,what does D represent in the marketing research process?

The Minnesota Twins,a professional baseball team,wanted to develop creative ways to boost sagging attendance at ball games.The Twins hired a moderator who,after every home game during the month of July,led informal discussions with groups of 6 to 10 fans to find out what they did and did not like about the baseball team and their experience at the stadium.Discussions were videotaped for later review.These research sessions are called

Analyzing the data obtained during the marketing research project and presenting the results take place during which step of the five-step marketing research approach?

The __________ method has two advantages over other traditional methods of data collection: The cost is relatively minimal and the turnaround time for data collection to report presentation is much quicker.

When Marine Midland Bank sent market researchers with surveys door-to-door in the neighborhoods surrounding its branch banks to ask people with savings accounts why they did not also have checking accounts and credit cards with Marine Midland,they were gathering __________ data.

Data mining refers to

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

After defining the problem and developing the research plan,the next step in the five-step marketing research approach is to

Which of the following is one of the three frequently used sales forecasting techniques?

Figure 7-1 -According to Figure 7-1,what does A represent in the marketing research process?