Exam 2 ( chapter 10)

In the second step of the marketing research process, what factor determines the type of data needed? Expected results Project budget Project objectives Number of researchers

project objectives

______ research, such as a focus group, attempts to begin to understand phenomena of interest with broad, open-ended questions. qualitative

qualitative

How is information generally gathered in a survey? Multiple choice question.

questonnarie

The last phase of the marketing research process is presenting ______ to decision makers.

results

______ is a marketing research method in which customer comments from a variety of social media sites are analyzed, seeking to gain insights into what customers really think

sentiment mining

Data mining uses various ______________ tools to uncover previously unknown patterns in the data or relationships among variables.

statistical analysis

A _________ is a systematic method of collecting information from people through a questionnaire.

survey

If a media company wants information on consumers' television viewing habits, it can purchase reports compiled by commercial research firms such as Nielsen. This is an example of ______ data.

syndicated

Marketers can purchase ________ data, which is secondary data available for a fee from commercial research firms.

syndicated

In most situations, data collection should only begin after ______.

the research design process is finished

n sentiment mining, companies gather comments from consumers on social media for what purpose? Multiple choice question.

to find consumers prefernces for products

The source domains of marketing analytics methods include psychology, sociology, econometrics, and linguistics.

true

A focus group interview is a(n) ______ method of inquiry where a trained moderator leads a conversation according to a predetermined outline of the topic of interest.

unstructured

Which of these is the best example of an unstructured question?

"Why did you choose the car you currently drive?"

Veracity

The data need to be accurate and reliable.

Value

The data need to be useful in relation to the cost.

When researchers define the objectives and needs of their project, what are they trying to establish?

The problem that needs to be solved

What are the characteristics of structured questions?

They are closed-ended; they include specific answers to choose from

Which of the following are ways in which marketing analytics of big data is useful?

- For understanding a firm's web traffic for managing various customer segments -For developing a thoughtful segmentation and positioning strategy -For making very specific marketing decisions as well as for a variety of purposes across a company's marketing mix

Marketing analytics of big data from website traffic is useful for which of the following?

- Improving methods of converting shoppers into buyers - Gaining insight into which online content and products most engage website visitors - Identifying the most relevant keywords to use for the website

Which are goals of descriptive marketing analytics tools?

- Organizing and tabulating available data - Presenting data in reports, tables, and charts

Which of these is not an advantage of secondary data? - They can sometimes be obtained from the company itself. - They are easy to customize. - They can be obtained quickly. - They are often inexpensive.

- They are easy to customize.

Which are standard tools for descriptive marketing analytics?

- Visualization software - SPSS and SAS software - Excel spreadsheets

Which of the following are among the five stages in the marketing research process?

- data collection; - defining objectives, - analyzing the data

The second step in the marketing research project involves design. In this step, researchers identify the type of __________ needed and work out the type of __________ necessary to collect it. - money; people - customers; research- data; people - data; research

- data; research

What are the advantages of secondary research?

- saves time in data collection because readily available - reduces cost of data collection

Marketing analytics makes it possible for marketers to analyze large amounts of collected data concerning customer information and purchase histories to accomplish which of the following?

-Improve marketing decision making -Optimize marketing returns -Make appropriate customer-related decisions

order of marketing research process analyzing data defining objectives implementing the action plan data collection designing the research project

1) defining objectives 2) designing the research project 3) data collection 4) analyzing data 5) implementing the action plan

Which of the following best describes a focus group?

A small group of people put together for an intensive discussion

___________ uses various statistical analysis tools to discover previously unknown patterns in the data or relationships among variables

Data mining

True or false: A structured questionnaire is a form that has questions designed to gather detailed data about the feelings and thoughts of respondents.

False; A questionnaire is a form that has questions designed to gather information that can be descriptive in nature.

T/F Marketing researchers are free to use customer data in any way they need to, as long as the researchers did not collect it.

False`

Which of these is NOT an advantage of secondary research?It is often free (or can be obtained at a low cost) -It is quicker to collect than primary data -It is the best source of unbiased data -Requires relatively little research design - It is the best source of unbiased data

It is the best source of unbiased data

______ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. Marketing research Strategic planning Marketing strategy Marketing management

Marketing research

What are the four broad categories into which marketing analytics tools and methods can be classified?

Predictive Active Descriptive Prescriptive

What is a data collection technique that features a document with questions designed to gather information from respondents to attain researcher objectives?

Questionnaire

Which of the following is an accurate definition of the term data?

Raw numbers with no intrinsic meaning

Suppose you work in the marketing department of a company and your boss, the marketing manager, asks you to take on a marketing research project. "But I'm not giving you any money for data collection," your boss says. "You can just use secondary data; it can meet all our needs and we can get it for free." Which of the following is the best argument against your boss's decision not to give you any money for the research?

Secondary data may not be specific enough to meet the needs of the research

Which of the following would be the most useful in identifying which customers are likely to be dissatisfied with their purchases?

Statistical predictive models

A(n) ______ question is a closed-ended question with a specific set of possible answers, such as a yes/no question.

Structured

Talib works for a gaming site that gets 90% of its revenues from in-game micro-purchases. He keeps the network functioning smoothly so millions of users can make these transactions seamlessly. Using a data dashboard, he monitors how many in-game transactions occur at any given time. Why does this big data scenario mainly involve the V dimension of volume?

Talib is monitoring data from millions of user transactions at any given time.

Velocity

The data can be accessed in milliseconds to seconds.

Variety

The data can exist in many different media formats.

Volume

The data exist in large quantities

5 Vs of Big Data

Volume Variety Velocity Veracity Value

Marketing research consists of which of the following?

analyzing data, collecting data, interpreting data

Popular media has coined the term ________ _________ to refer to the excess data that companies can access but cannot organize using conventional data management.

big data

What is the excess of data for which companies can access but cannot collate by traditional methods called?

big data

The step in the marketing research process that follows research design is ______.

collecting the data

The step in the marketing research process that follows research design is ______. collecting the data analyzing the data presenting the results designing the research

collecting the data

_____ are raw numbers, that on their own, have limited value to marketers.

data

When merchandise is sold, stores compile data about the purchase. Then the data is entered into a huge database known as a(n) Blank______.

data warehouse

The analyst prepares the results to present them to a firm's ______ as a final step in the marketing research process.

decision makers

Observation can be described as ______ through personal viewing or by means of a video camera.

examining purchase and consumption behavior

Because research is ______, it is important to figure out beforehand exactly what problem needs to be solved. - inexpensive and uninformative - proprietary and time-consuming - proprietary and informative -expensive and time-consuming

expensive and time-consuming

A firm that is considering changing the colors used on its packaging wants to determine the effect of different color schemes on sales. To do so, the firm places three different packages in stores in three different markets. What type of research is this?

experimental

__________ research systematically manipulates one or more variables to determine which variables have a causal effect on another variable.

experimental

True or False: Qualitative research is informal and includes experiments and surveys

false

The _______ ___________ is a qualitative research technique in which trained researchers ask questions, listen to and record the answers, and then ask additional questions to clarify a particular issue interview

in-depth interview

What is a qualitative research technique where trained researchers ask questions to a few selected participants, record the answers, and then ask additional questions if needed for clarification?

in-depth interview

As firms build databases that contain customer ______, marketing researchers must be careful not to abuse this collection, which may contain sensitive personal details.

information

An advantage of secondary data is that, compared to primary data, it ______.

is usually avaliable at a lower cost

One disadvantage of secondary data is that ______

it may not be exactly what the research project requires

Analyzing data that has been already collected to improve marketing decisions, optimizing marketing returns, and making appropriate customer-related decisions is the function of ______.

marketing analytics

Information stored in the data warehouse ______.

may be accessed by analysts from various levels of the corporation

______ is a qualitative research method that entails examining purchase and consumption behavior through personal viewing or video camera scrutiny.

observation

Unstructured questions are _____ questions.

open-ended

Marketing analytics tools that rely on historically available data to forecast something, such as a firm's product sales in the next year, are called _______ analytics tools.

predicitve

The Mayberry Mustangs, a minor league baseball team, recently upgraded their ability to collect data from their fans in order to draw people to their website. The team gathers the fans' tweets, texts, personalized video clips, and other posts to the team website. Then they include them in a humorous mashup before each game. Which big data characteristic does this mainly involve?

variety

In terms of the five Vs of big data, the data formats in which information is stored is referred to as

varitey