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Q:
The U.S. Census Bureau websiteA. are repositories of information on U.S. business, economic and trade activity collected by the federal government.B. are portals to all government websites that can be found by topic or keyword.C. provide up-to-the-minute business news and security prices plus research reports of companies, industries, and countries.D. are the most popular Internet portals to enter key words or topics for specific searches.E. access information in online databases and blogs by primary topic.
Q:
The Internet sites for The Wall Street Journal, CNBC, and Fox BusinessA. sell information on trade activity collected by the U.S. government.B. are portals to all government websites that can be found by topic or keyword.C. provide information in online databases and an index of blogs by primary topic.D. are the most popular online portals in which to enter key words or topics for specific searches.E. provide up-to-the-minute business news and video clips about companies, industries, and trends.
Q:
Secondary data in online databases can be accessed either directly, or via Internet search engines orA. portals through keyword searches.B. internal statistical data.C. probability sampling data.D. personal chat rooms.E. social media like Facebook.
Q:
Two important disadvantages of secondary data are __________ and __________.A. inexpensive; up-to-dateB. not up-to-date; not specific enough for the projectC. low cost; saves timeD. tailor-made to specifications; out of dateE. cost; time-consuming to collect the data
Q:
Two important advantages of secondary data are that they are __________ and __________.A. inexpensive; up-to-dateB. up-to-date; supplies all relevant categories of informationC. inexpensive or free; save timeD. tailor-made to specifications; relatively inexpensiveE. highly credible; up-to-date
Q:
The J.D. Power & 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 like 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?"A. focus groupsB. experimentsC. syndicated panelsD. syndicated data miningE. mall intercept interviews
Q:
When Karsh and Hagan Advertising Agency uses information found in Nielsen Television Index Ranking Report published by Nielsen Media Research to plan television advertising schedules for its clients, it is relying on __________ data.A. neuromarketingB. primaryC. internal secondaryD. observationalE. external secondary
Q:
Published data from outside the organization are referred to as __________ data.A. proprietaryB. external primaryC. internal secondaryD. internal primaryE. external secondary
Q:
All of the following are examples of marketing outcome data EXCEPT:A. customer phone calls.B. repeat sales reports.C. accounting records.D. salespeople's call reports.E. sales reports by geographic region.
Q:
All of the following are examples of marketing input data EXCEPT:A. advertising budgets.B. call reports.C. accounting records.D. sales budgets.E. advertising expenses.
Q:
Primary data refer toA. facts and figures that are newly collected for a project at hand.B. facts and figures that have already been recorded prior to the project at hand.C. facts and figures obtained by watching people mechanically rather than in person.D. facts and figures obtained by either by asking people questions through the use of information technology.E. conclusions developed from information obtained from a representative sample of a population.
Q:
Children's accessory and toy store Red Carpet Baby! uses U.S. Census Bureau information to determine the number of families with children under age 5 for each state in its market area. Data obtained from this source are called __________.A. proprietary dataB. primary dataC. secondary dataD. observational dataE. experimental data
Q:
Secondary data can be divided into two parts - __________ and __________.A. primary data; empirical dataB. empirical data; secondary dataC. tertiary data; demographic dataD. demographic data; observational dataE. internal secondary data; external secondary data
Q:
Secondary data are theA. facts and figures that have already been recorded before the project at hand.B. facts and figures that are newly collected for the project at hand.C. facts and figures obtained by watching people mechanically rather than in person.D. facts and figures obtained by asking people questions through the use of information technology.E. conclusions developed from information obtained from a representative sample of a population.
Q:
All of the following are sources of primary data EXCEPT:A. government publications.B. observational data.C. experiments.D. social media.E. panels.
Q:
Figure 7-2B
Figure 7-2B above shows that primary data may be divided into three related parts. If D represents data collected from individual interviews, focus groups, trend hunting, etc., which type of data is D?
A. questionnaire data
B. mined data
C. internal secondary data
D. external secondary data
E. observational data
Q:
Figure 7-2B
Figure 7-2B above shows that primary data may be divided into three related parts. If C represents data collected from mechanical, personal, or neuromarketing methods, which type of data is C?
A. questionnaire data
B. mined data
C. internal secondary data
D. external secondary data
E. observational data
Q:
Figure 7-2B
Figure 7-2B 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?
A. questionnaire data
B. mined data
C. internal secondary data
D. external secondary data
E. observational data
Q:
Figure 7-2B
Figure 7-2B above shows that secondary data may be divided into two related parts. If Box A represents marketing input and outcome data (budgets, call reports, customer communications, etc.), which type of data is A?
A. questionnaire data
B. mined data
C. internal secondary data
D. external secondary data
E. observational data
Q:
Figure 7-2A
Figure 7-2A above shows the two main types of data. If B represents the facts and figures that have already been recorded before the project at hand, which type of data is B?
A. compound data
B. secondary data
C. tertiary data
D. primary data
E. nonprobability data
Q:
Figure 7-2A
Figure 7-2A above shows the two main types of data. If box A represents the facts and figures that are newly collected for the project, which type of data is A?
A. internal primary data
B. secondary data
C. external primary data
D. primary data
E. internal secondary data
Q:
The two main types of data areA. independent and dependent.B. primary and secondary.C. comprehension and case specific.D. extraneous and experimental.E. measurable and non-measurable.
Q:
Data refer to theA. subjective psychographic feelings collected by an organization upon which it bases subsequent marketing actions.B. objective demographic characteristics collected by an organization upon which it bases subsequent marketing actions.C. facts and figures related to the problem that are divided into two main parts: secondary data and primary data.D. information collected by a source other than the company itself used to determine the best possible solution to a marketing problem.E. facts and figures related to the problem that are only available for purchase from the federal government.
Q:
The facts and figures related to the problem are referred to as __________.A. dataB. statisticsC. variablesD. conceptsE. constraints
Q:
Drawing conclusions about every woman who leases a car in a particular zip code from a representative sample of 250 women in that zip code who lease a car is calledA. probability sampling.B. nonprobability sampling.C. random sampling.D. statistical inference.E. interpolation.
Q:
The process of selecting elements from a population, collecting data from them, and using it as representative of all those a researcher is interested in is referred to asA. hypothesis generation.B. sampling.C. information gathering.D. statistical inference.E. probability extrapolation.
Q:
In marketing research, the term sampling refers toA. testing the effectiveness of a marketing alternative in a supervised setting.B. the collection of various secondary data through electronic or mechanical means.C. allowing a subject to experience first-hand a new or updated product or service.D. selecting representative elements from a population and treating their answers as typical of all those in whom they are interested.E. testing members from all ages, both genders, and different levels of income and education to guarantee reliable information.
Q:
Sampling and statistical inference are special __________, which are vital in marketing research to solve all or part of a problem.A. systemsB. stylesC. methodsD. mannersE. modes
Q:
The Journal of Marketing Research and the Journal of Marketing provideA. up-to-date tables for the latest data on consumer sales, listed by industry.B. summaries of research methods and techniques valuable in addressing marketing problems.C. the latest data on marketing expenditures based on consumer geodemographics.D. postings of professional marketing opportunities at universities and colleges.E. an in-depth list of marketing positions and opportunities at major corporations.
Q:
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 severalA. virtual prototypes.B. product substitutes.C. product hypotheses.D. new-product concepts.E. new-feature matrices.
Q:
Prior to its production, LEGO marketing managers developed a(n) __________ for the innovative MINDSTORMS EV3 robot capable of walking or skating, perhaps by adding an infrared sensor.A. virtual conceptB. product substituteC. product hypothesisD. new-feature matricesE. new-product concept
Q:
In the world of marketing, __________ are ideas about products or services.A. theoriesB. notionsC. perceptionsD. impressionsE. concepts
Q:
What are the two most common constraints in marketing problem solving?A. limitations of personnel and office spaceB. limitations of the strategic thinking and creativity of the firm's advertising agencyC. limitations on the time and money availableD. government regulations and rights to privacyE. limitations on access to upper and middle management
Q:
In a marketing decision, constraints refer toA. the external factors affecting the number of people who can work on a solution to a problem.B. the number of possible alternatives in a company's solution set.C. the restrictions placed on potential solutions to a problem.D. the internal factors affecting whether to select one alternative over another.E. the internal factors that determine who in the organization selects the best problem to fit the hypothetical solution.
Q:
There are three key elements when defining a marketing research problem. One of these is __________.A. specify the objectivesB. evaluate previous research resultsC. determine how to collect dataD. identify possible marketing actionsE. identify data needed for marketing actions
Q:
When Home Depot entered the Quebec market in Canada, two percent of people were aware of the retail chain. To determine advertising effectiveness during the first 18 months in Quebec, awareness research was done a second time. For this research, it was decided that if at least 50 percent of a 600-person sample of the population were aware of the Home Depot brand, it would continue its present advertising program. This is an example of a(n)A. objective.B. constraint.C. assumption.D. measure of success.E. barrier to entry.
Q:
LEGO MINDSTORMS Photo
Consider the LEGO MINDSTORMS photo above. If the marketing research measure of success is assembly time for a particular design meant for middle-school students, which would be the best possible marketing action if the results of a marketing research study concluded, "All ten teams could assemble Design B in 20 minutes but only 3 teams completed Design A"?
A. redesign the kits so that assembly time is more uniform
B. introduce design B
C. introduce the Design A, but add more new features to charge a higher price
D. mine the data further for student reactions
E. consult the marketing dashboards to analyze LEGO sales in the U.S.
Q:
LEGO MINDSTORMS Photo
Consider the LEGO MINDSTORMS photo above. LEGO designers created MINDSTORMS kits to appeal to middle-school students, among others. When attempting to choose between potential designs, what was the measure of success for use by LEGO in this instance?
A. age
B. gender
C. assembly time
D. cost
E. advertising
Q:
One test of whether marketing research should be done is ifA. 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.
Q:
Effective decision makers rely on criteria or standards known as __________ that are used in evaluating proposed solutions to a problem.A. marketing dashboardsB. descriptive researchC. constraintsD. problem definitionsE. measures of success
Q:
Measures of success refer toA. the goals the decision maker seeks to achieve in solving a problem.B. criteria or standards used in evaluating proposed solutions to a problem.C. identification of acceptable alternatives for collecting data to solve a problem.D. objective data used to identify the most profitable solution to a marketing problem.E. subjective data used to identify the most profitable solution to a marketing problem.
Q:
Set during the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.A. measures of successB. research constraintsC. marketing research plansD. hypothetical scenariosE. research objectives
Q:
Research objectives are __________.A. conjectures regarding marketing outcomesB. general research guidelinesC. solutions to be evaluatedD. specific and measurableE. research dashboards
Q:
There are two key elements when defining a marketing research problem. One of these is __________.A. specify constraintsB. set the research objectivesC. determine how to collect dataD. evaluate previous research resultsE. identify data needed for marketing actions
Q:
Figure 7-1
According to Figure 7-1 above, implementing marketing actions occurs during which step of the five-step marketing research approach?
A. A
B. B
C. C
D. D
E. E
Q:
Figure 7-1
A. A
B. B
C. C
D. D
E. E
Q:
Figure 7-1
According to Figure 7-1 above, obtaining primary data occurs during which step of the five-step marketing research approach?
A. A
B. B
C. C
D. D
E. E
Q:
Figure 7-1
According to Figure 7-1 above, specifying constraints occurs during which step of the five-step marketing research approach?
A. A
B. B
C. C
D. D
E. E
Q:
Figure 7-1
According to Figure 7-1 above, setting research objectives occurs during which step of the five-step marketing research approach?
A. A
B. B
C. C
D. D
E. E
Q:
Figure 7-1
According to Figure 7-1 above, what does E represent in the marketing research process?
A. take marketing actions
B. define the problem
C. develop the research plan
D. collect relevant information
E. develop findings
Q:
Figure 7-1
According to Figure 7-1 above, what does D represent in the marketing research process?
A. define the problem
B. develop the research plan
C. develop findings
D. collect relevant information
E. take marketing actions
Q:
Figure 7-1
According to Figure 7-1 above, what does C represent in the marketing research process?
A. define the problem
B. collect relevant information
C. develop the research plan
D. develop findings
E. take marketing actions
Q:
Figure 7-1
According to Figure 7-1 above, what does B represent in the marketing research process?
A. develop findings
B. define the problem
C. collect relevant information
D. develop the research plan
E. take marketing actions
Q:
Briefly explain the best-known statistical method, trend extrapolation, used by marketers to develop a company's sales forecasts. In your explanation, explain the strengths and weaknesses of using this method.
Q:
Figure 7-1
According to Figure 7-1 above, what does Box A represent in the marketing research process?
A. collect relevant information
B. develop the research plan
C. develop findings
D. take marketing actions
E. define the problem
Q:
Obtaining primary and secondary data would take place during which step of the five-step marketing research approach?A. collect relevant informationB. develop the research planC. develop findingsD. take marketing actionsE. define the problem
Q:
Figure 7-6D: Average Annual Sales per Household of Tony's Pizza, by Age of Children in HouseholdFigure 7-6D above shows average annual unit sales per household, by age of children in household for Tony's Pizza. Analyze this chart. What findings would you present to a supervisor?
Q:
Figure 7-6A: Annual Sales of Tony's Pizza and Figure 7-6B: Average Annual Sales of Tony's Pizza per HouseholdInterpret and contrast Figure 7-6A and Figure 7-6B for Tony's Pizza. What findings would you present based on this information?
Q:
Setting research objectives and identifying possible marketing actions that might result from the research would take place during which step of the five-step marketing research approach?A. collect relevant informationB. develop the research planC. develop findingsD. obtain secondary dataE. define the problem
Q:
What is a panel? How is it used in marketing research? Panels have what disadvantage?
Q:
Decision making is the act ofA. consciously choosing from among alternatives.B. consciously choosing an action that doesn't involve risk.C. subjectively selecting from a subset of positive alternatives.D. subconsciously selecting the alternative that is most consistent with one's personal beliefs.E. objectively selecting the most financially sound decision among two or more alternatives.
Q:
A decision refers toA. a premeditated selection resulting in a personal action.B. a conscious choice among a set of alternatives that creates the least amount of risk.C. a conscious choice from among two or more alternatives.D. a subconscious selection of the alternative most consistent with one's personal beliefs.E. an unconscious choice selected from a subset of positive alternatives.
Q:
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 not be willing to tell you what you want to know if it is potentially embarrassing.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.
Q:
All of the following are challenges marketers face when conducting marketing research EXCEPT:A. Will consumers' actual purchase behaviors match their stated interests or intentions?B. Will consumers reveal honest answers to questions about personal or status issues?C. Will consumers buy the same brand they say they will?D. Will consumers accept a small gratuity for participating in a market research study for a new or existing product?E. Will consumers really know whether they are likely to buy a new product that they have never thought about before?
Q:
Marketing research refers toA. the process of systematically collecting and analyzing information in order to define a marketing problem.B. the use of information technology to find objective solutions to a marketing problem.C. the process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions.D. the use of subjective data such as interviews and observation to complement empirical data obtained through the use of information technology.E. the science of using observable human behavior in order to identify and solve marketing problems.
Q:
Test screenings and tracking studies are examples of market research techniques used in the movie industry toA. estimate a production company's potential market share.B. identify prospective nominees for industry awards such as the Oscars.C. create an advance market for the movie's DVD release regardless of whether it is successful in its theater release or not.D. identify possible story lines and/or plots for future movie ventures.E. reduce uncertainty and improve marketing actions.
Q:
In conducting marketing research on Facebook, Carmex is considering using a marketing metric that measures how active its Facebook audience is with Carmex, such as when consumers post a comment on the Carmex wall or reply to one of the Carmex posts. This metric is called CarmexA. Sentiment.B. Share of Voice.C. Engagement.D. Conversation Velocity.E. Likes.
Q:
Marketing researchers use tracking studies immediately before an upcoming film's release toA. identify any factual errors or inconsistencies in the storyline.B. nominate specific actors or actresses for industry awards.C. forecast a movie's opening weekend box office revenues.D. select the best geographical location for the movie's premiere.E. make changes to the movie's release based upon professional critics' reviews.
Q:
A salesforce survey forecast involvesA. asking prospective customers if they are likely to buy the product during some future time period.B. asking the firm's salespeople to estimate sales during a coming period.C. selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.D. making decisions without any intervening steps.E. averaging the projections obtained from just regional sales managers and then making the final projection.
Q:
Which of the following would be best used to forecast the opening weekend box office sales for a new movie?A. test screeningsB. demographic analysisC. portfolio analysisD. advanced promotionsE. tracking studies
Q:
A survey of buyers' intentions forecast involvesA. 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.B. making decisions without any intervening steps.C. asking prospective customers if they are likely to buy the product during some future time period.D. asking the firm's salespeople to estimate sales during a coming period.E. selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.
Q:
Figure 7-7
In Figure 7-7 above, the line identified as A indicates a(n)
A. causal analysis.
B. non-parametric regression.
C. curvilinear extrapolation.
D. linear trend extrapolation forecast.
E. sales regression.
Q:
Figure 7-7
Figure 7-7 above depicts what type of statistical forecasting?
A. causal analysis
B. non-parametric regression
C. curvilinear extrapolation
D. infinite dimension
E. linear trend extrapolation
Q:
Linear trend extrapolation is a form of trend extrapolation in whichA. pattern changes from year to year.B. pattern is always a straight line.C. slope of the line is tied directly to profits.D. shape of the pattern is a hyperbola.E. pattern follows an "S-shaped" curve.
Q:
In trend extrapolation, the forecasting technique that involves using a straight line is called __________.A. causal analysisB. non-parametric regressionC. planning gap analysisD. infinite dimensionE. linear trend extrapolation
Q:
Trend extrapolation involvesA. 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%.C. averaging the total sales or market share for the previous 5 years and multiplying that number by the expected GDP growth rate for the next year (say 1.5%) 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.
Q:
Million Dollar Baby is an example of a successful movie that could have failed becauseA. too little money was spent on promotion.B. it was targeting the wrong target market segments.C. there was too little similarity between the original book and the screenplay.D. its original title did not convey the correct message to its prospective audience.E. too much time elapsed between promotions and its release.
Q:
Sherrie sold about $800 worth of produce last weekend at a Farmer's Market, but it was sunny and warm both days. This Saturday and Sunday are both supposed to be rainy, so she thinks fewer people will attend. She estimates she'll only sell about 3/4 of her total for last time, or $600. This is an example of a(n)A. direct forecastB. lost-horse forecastC. lost-cause forecastD. indirect forecastE. incremental forecast
Q:
Lost-horse forecasting involvesA. admitting that the actions you have taken in the past have failed and removing those and similar actions from you list of alternatives.B. 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.C. making decisions without any intervening steps.D. following a prescribed set of "directives" established before the research was even begun.E. selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.
Q:
A direct forecast involves estimating the value to be forecast andA. making decisions without any intervening steps.B. halving the highest values and doubling the lowest values to determine an acceptable forecast range.C. selecting the alternative that holds the greatest consensus within the management team.D. then conducting a sensitivity analysis to determine price elasticity.E. selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts are incorrect.