Chapter 7 LearnSmart (+more)

What are the steps for marketing research?

(1) Define the Problem (2) Develop the Research Plan (3) Collect Relevant Information (4) Develop Findings (5) Take Marketing Actions

What are the parts (in order) of the fifth step in the marketing research approach, Take Marketing Actions

(1) Make action recommendations (2) Implement action recommendations (3) Evaluate Results

Step 2 in the marketing research approach, Developing the marketing plan, has what parts to it?

(1) Specify constraints (2) identify the data needed for marketing actions (3) determine how to collect the data

Marketers collect primary data using what two methods?

Asking people questions and observing people

Marketing _____________ has little value until it is analyzed and translated into logical findings

Data (or information)

____________________ is the extraction of hidden predictive information from large databases to find statistical links between consumer purchasing patterns and marketing actions.

Data mining

Yahoo's Hadoop and Google's Bigtables are useful tools that allow data scientists to more clearly present the results of their analyses through the use of....

Data visualization

In marketing research, a(n) ____________________ involves obtaining data by manipulating factors under tightly controlled conditions to test cause and effect

Experiment

What are characteristics of open-ended questions?

Good for idea generation about product benefits and advertising as well as capturing the 'voice' of the respondent

The U.S. Census Bureau publishes reports that contain detailed information on American households, and marketers use this data to...

Identify characteristics and trends of ultimate consumers

What are the research methods used to generate new ideas?

Individual interviews (as well as depth interviews), focus groups, and trend hunting

_______________________ includes all of the computing resources that collect, store, and analyze data

Information technology

The following is an example of what type of question? Dell provides products that are reliable. Strongly Agree __ __ __ __ __ Strongly Disagree

Likert Scale

Starting with the last-known value of the item being forecast, listing the factors that could effect the forecast, and assessing whether you have a positive or negative impact are steps in which type of forecast?

Lost-horse

What is a major disadvantage of online surveys?

Many surveys potentially not delivered because of "spam blockers"

What are examples of personal methods for collecting observational data?

Mystery shoppers who can check a company's customer service and ethnographic studies of consumers in their natural habitats

_____________ is a field of study using brain imaging technologies to discover insights about consumer perception.

Neuromarketing

What is an example of a mechanical method for collecting observational data?

Nielson's "people meter" attached to televisions to measure TV ratings

____________________ data are facts and figures obtained by watching, either mechanically or in person, how people actually behave

Observational

What is a major disadvantage of fax surveys?

Perceived to utilize outdated technology

What is essential in the design of all research when using a questionnaire?

Precise, efficient questions and questions that get clear, unambiguous answers

___________________ data are facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors

Questionnaire

What are the primary advantages of online surveys?

Quick turnaround time from data collection to report and relatively minimal cost

What is a major disadvantage of a mall intercept interview?

Respondents may not be representative of the targeted group

Because sales people are frequently in contact with customers and are likely to understand their like and dislikes, organizations use _____________ forecasting, despite that it may sometimes be unreliable

Salesforce survey

_________________ is often used by selecting a group of distributers, customers, or prospects, asking them questions, and treating their answers as typical of all those whom they are interested.

Sampling

What are the two special methods vital to marketing?

Sampling and statistical inference

_______________ data can be internal or external, so long as it was collected prior to the current project

Secondary

The following is an example of what type of question? Dell provides products that are... Reliable __ __ __ __ __ Not Reliable

Semantic Differential Scale

What are the two key elements to the first step, Defining the problem, in the marketing research approach?

Set research objectives and identifying possible marketing actions

What are the main reasons that marketers secondary data first?

Time savings and low cost

Marketing research is typically conducted for what two reasons?

To reduce risk and thereby improve marketing decisions

__________________ for forecasting relies on the assumption that underlying relationships in the past will continue into the future, resulting in its simplicity as a method but inaccuracy in times of change

Trend Extrapolation

What two elements are included in the fourth step of the marketing research approach, Develop findings?

analyzing information and presenting findings

In setting research objectives, marketers have to...

be clear on the purpose of the research

Modern marketing research uses ________________ which requires analysis with sophisticated technologies to derive useful marketing information

big data

In marketing, _____________ are ideas about products and services, and they are key to deciding how to collect research data

concepts

Which two of the following are key elements in deciding how to collect data for marketing research?

concepts and methods

A ___________ in a decision is a restriction placed on potential solutions to a problem, such as limit on time or money

constraint

Facts and figures related to a problem are known as....

data

Organizations find it necessary to use data mining techniques to extract hidden predictive information from their...

databases

The act of consciously choosing among two or more alternatives is known as __________________ making.

decision

A test market is an example of a(n)...

experiment

Primary data are...

facts and figures that are newly collected for the current project

What is a major disadvantage of personal interviews?

high costs per respondent

A focus group is a _________________ method of inquiry, which makes it more effective in uncovering ideas that are difficult to obtain with individual interviews

informal

A(n) _____________________ enterprise is one whose marketing managers use data, technology, and analytics to transform data into useful information for marketing decisions and actions.

intelligent

A disadvantage of secondary data is that...

it may not be specific enough

Research objectives should be...

measurable and specific

For Fisher-Price's research on a toy telephone, the _______________ was the time children spent playing with alternative designs

measure of success

The approaches that can be used to collect data to solve all or part of a problem are known as...

methods

A picture or verbal description of a product or service a firm might offer for sale is called a _____________. It is also used to find out customer reactions to a potential new product

new-product concept

A(n) _________________ is a sample of consumers or stores from which researches take a series of measurements over time.

panel

Researchers collect _______________ data by either observing people or asking them questions

primary

When a researcher needs information that is very specific to the problem being studied, she will probably resort to using _________________ data, despite its cost and time-consuming nature

primary

Changes in consumer dessert preferences or competitor prices will affect Betty Crocker's 2014 _____________ for cake mix in the United States

sales forecast

What method is used to generalize the results from the sample to much larger groups to help decide on actions?

statistical inference

An organization may start a new marketing research study by examining internal secondary data like customer complaints primarily because...

using this information can result in time and cost savings