CS201 Exam 1
What are three characteristics of a well-stated decision problem?
Takes the manager's perspective Is as simple as possible Is stated in the form of a question
Veracity
The accuracy and trustworthiness of data collected in "big data" systems (vulnerable)
Variety
The combination of structured and unstructured data collection in "big data" systems (expansive)
Velocity
The pace of data flow, both into and out of a firm (rapid).
What is a decision problem, and what are its two forms?
The problem facing the decision maker discovery oriented = what or why, focus is on gathering useful information strategy oriented = how questions, focused on actual results
What is "Big Data?"
The process of capturing, merging, and analyzing large and varied data sets for the purpose of understanding current business practices and seeking new opportunities to enhance future performance.
Volume
The sheer amount of data being collected in "big data" systems (massive).
True or False The general rule is primary/new data should only be collected if secondary/existing data has been exhausted and doesn't adequately answer ongoing questions
True
True or False A retailer conducting a one-time customer satisfaction survey is an example of a cross-sectional study.
True
True or False Analyzing scanner data from retailers provides a way to assess product sales and market share.
True
True or False Causal studies typically take the form of experiments.
True
True or False Discovery-oriented research rarely solves a problem in the sense of providing actionable results.
True
True or False Even the best marketing research projects contain error of one kind or another.
True
True or False Exploratory studies are very flexible and rarely use detailed questionnaires.
True
True or False If a company is going to consider and evaluate multiple research providers and select to work with, a request-for-proposal will often be issued to interested or qualified providers.
True
True or False Managers should study marketing research so they can understand what they are asking of researchers when requesting marketing research.
True
True or False Many of the companies that want the advantages of single-source data are not in a position to capture proprietary data.
True
True or False Nielsen PRIZM created 68 "neighborhood" segments based on socioeconomic data
True
True or False One important measure of a focus group's success is whether the participants talk to each other rather than the moderator doing all the talking.
True
True or False One of the challenges of accessing and retrieving data is the ability to merge unstructured and structured data.
True
True or False Portable people meters detect an inaudible code embedded in programming watched or heard by carriers of the devices so as to measure actual media exposure.
True
True or False Problem formulation involves more art than science.
True
True or False Projective methods help researchers overcome subjects' reluctance to discuss their feelings and/or provide truthful answers.
True
True or False Secondary data make up most of the data held in data systems used in marketing research.
True
True or False Simulated test markets are more suited for evaluating product extensions than for examining the likely success of radically different, new products.
True
True or False Social media data is useful for Voice of the Customer (VOC) research to understand customer experience, likes, and dislikes.
True
True or False The ability to interact with the system to create customized information is the true value of a decision support system (DSS).
True
True or False The accuracy of a test market increases with the length of time the testing occurs.
True
True or False The basic function of marketing research is to gather information that is needed to help managers make better decisions.
True
True or False The purpose of causal research is to test cause and effect relationships
True
True or False The research request agreement helps ensure that the client and the researcher agree about the research problems to be addressed.
True
True or False Trying to sell products after telling respondents you are conducting marketing research is an unethical approach known as "sugging."
True
True or False Unlike the research request agreement, the research proposal specifies the techniques to be used in implementing research.
True
True or False When meeting with the client, it is important to keep the broader issue in mind to keep from going down a very specific and possibly incorrect path.
True
What is the difference between User Acquisition Data and User Behavior Data?
User Acquisition Data: data about your users before they visit your website User Behavior Data: data about your users when they visit your website
What are the four V's of Big Data?
VOLUME: The sheer amount of data being collected in "big data" systems (massive). VELOCITY: The pace of data flow, both into and out of a firm (rapid). VARIETY: The combination of structured and unstructured data collected in "big data" systems (expansive). VERACITY: The accuracy and trustworthiness of data collected in "big data" systems (vulnerable).
What is the causality caveat to remember?
We can never truly know that we have eliminated all other possible causes of an effect, therefore we can never state with certainty that X caused Y.
Which of the following are characteristics of a well-stated decision problem? a. Takes the manager's perspective b. Should address the entire situation c. Is as simple as possible d. Is stated in the form of a question e. Includes a solution to the problem
a, c, d
What type of study would a marketing researcher use to measure product purchases from the same group of consumers over regular intervals? a. A longitudinal study using a continuous panel b. A cross-sectional study using a discontinuous panel c. A longitudinal study using a discontinuous panel d. A cross-sectional study using a continuous panel
a. A longitudinal study using a continuous panel
Which consideration of market testing creates the possibility that competitors might see a company's new product before it is commercialized? a. Control b. Time c. Cost d. Any of these considerations would create that possibility.
a. Control
Which of the general approaches to marketing research focuses on describing a population? a. Descriptive research b. Exploratory research c. Causal research d. Population research
a. Descriptive research
The stage of marketing research in which error can enter the process is a. Error can enter during any stage. b. data analysis. c. problem definition. d. data capture.
a. Error can enter during any stage.
What method does a researcher use to work toward establishing possible causal relationships? a. Experiments b. Projective methods c. Geodemography d. Depth interviews
a. Experiments
A marketing researcher that analyzes demographic, consumer behavior or other data by combining it with geographic data are using what type of research approach? a. Geodemography b. Statistical extrapolation c. Cartography d. Boundary mapping
a. Geodemography
What is the primary advantage of a focus group over other exploratory techniques? a. It features group interaction, allowing participants to hear and respond to others' ideas. b. It involves detached and prolonged observation of consumers' emotional responses, cognitions, and behaviors. c. It overcomes the subjects' reluctance to discuss their feelings or provide truthful answers. d. Selected participants usually form a heterogeneous group.
a. It features group interaction, allowing participants to hear and respond to others' ideas.
What is true about Customer Relationship Management (CRM)? a. It is a system for gathering all relevant information about a company's customers. b. It's goal is to better understand sales representative needs and behaviors. c. CRM cannot be part of the larger DSS of an organization. d. All of these statements about CRM are true.
a. It is a system for gathering all relevant information about a company's customers.
Which statement about an exploratory study is true? a. It is flexible regarding methods used for gaining insight. b. It is appropriate for a problem that is well-known and understood. c. It is almost always relatively large in scale. d. It consumes the bulk of the research budget.
a. It is flexible regarding methods used for gaining insight.
Which category of primary data would marketers use to determine why people behave as they do? a. Motivation b. Intentions c. Personality d. Attitudes
a. Motivation
What kind of media consumption are people meters used to track? a. Television b. Print media c. Internet d. People meters track cross-platform media consumption
a. Television
What characteristic about sample surveys represents an advantage to using them? a. The ability to project results of the sample to the overall population b. The expense of using them c. The time required to adequately test a hypothesis d. All of these characteristics are advantages of using a sample survey.
a. The ability to project results of the sample to the overall population
Who has the most important role in a focus group? a. The focus group moderator b. The most vocal member of the focus group c. The least vocal member of the focus group d. The manager whose decision problem is being discussed
a. The focus group moderator
Under which moral reasoning framework is it more difficult to judge an action as ethical? a. The rights approach b. The justice approach c. It is equally difficult for all approaches d. The utility approach
a. The rights approach
Which of the following are key characteristics of exploratory studies? a. They are typically small scale and flexible. b. They are typically large scale and flexible. c. They are typically small scale and rigid. d. They are typically large scale and rigid.
a. They are typically small scale and flexible.
Which method of ethical reasoning holds that the correct course of action is the one that promotes the greatest good for the greatest number of people? a. Utility approach b. Justice approach c. Rights approach d. All approaches do this.
a. Utility approach
When is a simulated test market a good choice over other types of test markets? a. When evaluating a product extension b. When a new product is a radical departure for the manufacturer c. When it's important to test the ability to get trade and distribution support for a new product d. When a company is entering a new territory Hide Feedback
a. When evaluating a product extension
A manager's view of the problem or opportunity is known as the a. decision problem. b. research problem. c. manager's problem. d. hypothesis.
a. decision problem.
The type of exploratory research to use when a researcher hopes that ideas will drop "out of the blue" or be fully developed because of the "snowball" effect is a. focus groups. b. literature search. c. data mining. d. depth interviews.
a. focus groups.
Researchers should be actively involved in problem formulation by a. listening carefully as managers provide their perspective on the problem. b. accepting managers preexisting assumptions. c. allowing managers to perform their own diagnosis and prescribe treatment for a problem. d. All of the above are ways in which researchers can be actively involved in problem formulation
a. listening carefully as managers provide their perspective on the problem.
One of the quickest and least costly ways of conducting exploratory research is a. literature search. b. projective methods. c. case analyses. d. depth interviews.
a. literature search.
When data that marketers need to make decisions already exist inside or outside the organization, it is known as a. secondary data. b. primary data. c. exploratory data. d. preexisting data.
a. secondary data.
Which type of test market does the company attempt to sell the product being tested through normal distribution channels in the test market cities? a. standard b. experimental c. simulated d. controlled
a. standard
The section of a formal research proposal that discusses the editing and proofreading of questionnaires, coding instructions, and type of data analysis is a. the analysis. b. the problem definition and background. c. the appendices. d. the research design and data sources.
a. the analysis.
Which broad approach to marketing research sheds light on a particular issue at a particular time? a. Putting systems in place that provide marketing intelligence on an ongoing basis b. Collecting data to address specific problems c. Both A and B d. Neither A nor B
b. Collecting data to address specific problems
The first stage of the marketing research process is Problem Determination. What is the best course of action if the phenomenon to be investigated is broad or vague? a. Gather primary data through a survey to clarify. b. Conduct exploratory research to clarify the issue. c. Reject the research request. d. Find a new research topic that is less broad or vague.
b. Conduct exploratory research to clarify the issue.
Which systems approach makes the most sense for a manager in a dynamic marketing environment that needs data at irregular intervals? a. Marketing Dashboard b. Decision support system (DSS) c. Marketing information system (MIS) d. A systems approach does not make sense for a manager under these conditions.
b. Decision support system (DSS)
Which of the following is NOT true about Exploratory research? a. Should provide a better understanding of the situation b. Is designed to reveal final answers and decisions c. Is designed to provide a better understanding, increase familiarity, clarify ideas! d. Could yield "hypotheses"
b. Is designed to reveal final answers and decisions
Which of the following statements about marketing research is true? a. It is a non-essential activity that takes a single form. b. It is the process of gathering and interpreting data for use in developing, implementing, and monitoring a firm's marketing plans. c. It is involved in some phases of the information management process. d. It is just for large organizations with deep pockets
b. It is the process of gathering and interpreting data for use in developing, implementing, and monitoring a firm's marketing plans.
Which systems approach to providing managers with the information they need produces regular, standardized reports based on data held in a database? a. Customer relationship management systems (CRM) b. Marketing information systems (MIS) c. Marketing dashboards d. Decision support systems (DIS)
b. Marketing information systems (MIS)
An automobile manufacturer whose research revealed a desire for status drove most new car purchases probably knows this from collecting what category of primary data? a. Attitudes b. Motivation c. Intentions d. Behavioral
b. Motivation
Which statement about panel data represents a disadvantage of using it? a. Panels are believed to be more accurate for measuring purchasing behavior. b. Panel data is nonrepresentative and/or nonrandom. c. Panels often record behavioral data as it occurs, placing less reliance on memory. d. None of these are disadvantages of using panel data.
b. Panel data is nonrepresentative and/or nonrandom.
Which statement about Longitudinal studies is true? a. Sample members are measured only once. b. They involve the use of panels. c. They are not the best for collecting detailed demographic information. d. Longitudinal studies are more common.
b. They involve the use of panels.
Which of the following is NOT one of the purposes of exploratory research? a. To clarify concepts b. To determine a set of final answers and decisions to address the research problem c. To get a better understanding of the problem or situation d. To identify areas where research might be useful
b. To determine a set of final answers and decisions to address the research problem
Secondary data is typically more accurate when a. the data collection process is not disclosed. b. it comes from the primary source that originated the data. c. it comes from an anonymous, external source. d. it has been collected in support of an advocacy research effort.
b. it comes from the primary source that originated the data.
Of the most widely acknowledged and newest sources of data, the type that allows companies to get a 360-degree view of a customer's purchasing patterns is a. VoC data. b. omni-channel transactional data. c. mobile data. d. social data.
b. omni-channel transactional data.
The two basic sources of change in the marketing environment are a. internal and external. b. planned and unplanned. c. complex and simple. d. helpful and harmful.
b. planned and unplanned.
Data mining is an exploratory research technique that is defined as a. studying selected examples of the phenomenon about which insights are needed. b. searching for statistical patterns in datasets. c. Data mining is not an exploratory research technique. d. making detached and prolonged observations of consumer emotional responses, cognitions, and behaviors.
b. searching for statistical patterns in datasets.
"Sugging" is best described by which of the following statements? a. Salespeople using results of marketing research studies to help sell their products b. Conducting research to support a particular position with pseudo-scientific results c. Attempting to sell products or services after telling respondents you are conducting marketing research d. All of these statements describe "sugging."
c. Attempting to sell products or services after telling respondents you are conducting marketing research
When preparing to conduct a descriptive study, what should you NOT do if you don't have clear answers about who, what, when, where, why, and how? a. Do a small pilot study. b. Do some exploratory research. c. Begin collecting data so you can answer these questions. d. Delay collecting data until you can answer these questions.
c. Begin collecting data so you can answer these questions.
Which category of data is often more accurate and objective than other categories of data? a. Motivation b. Intentions c. Behavioral d. Awareness/knowledge
c. Behavioral
Which component of a decision support system (DSS) has modules containing information about customers, general economic and demographic data, competitor information, and industry information such as market trends?a. Logic system b. Model system c. Data system d. Dialog system
c. Data system
All of the following represent examples of the causal research approach, except: a. Determining which product packaging design is most effective b. Determining which version of a product to offer c. Determining the frequency with which something occurs within a population d. Determining what price to charge for a product
c. Determining the frequency with which something occurs within a population
Which of the following research examples does NOT fit the definition of descriptive research? a. Estimating the proportion of people within the vicinity of a store who will shop there b. Developing a profile of the average customer c. Determining which of several sales promotions was the most effective d. Predicting the level of sales of a brand in future months or years
c. Determining which of several sales promotions was the most effective
Measuring the market share of a product by having a representative number of consumers log their product purchases and usage relies on which approach? a. Geodemography b. Statistical extrapolation c. Diary panels d. Scanner data analysis
c. Diary panels
Which of the following statements about lab or field experiments is true? a. Field experiments involve creating situations with desired conditions. b. Only lab experiments involve dependent and independent variables. c. Field experiments involve real consumers. d. Lab experiments have relatively low degrees of internal validity.
c. Field experiments involve real consumers.
When meeting with the client, to get as much information as possible about the problem/opportunity, how many times should you ask "why" the situation has occurred to dive deeper into possible causes? a. One b. Three c. Five d. None - the client will volunteer this information
c. Five
Which of the following is not one of the four stages of the marketing research process? a. Problem definition b. Data gathering c. Managing artificial intelligence d. Data analysis e. Communication of results
c. Managing artificial intelligence
What type of field experiment would not be a good choice for determining which of two different web pages produced the best response? a. A/B test b. Split test c. Market test d. All of the above are good choices.
c. Market test
The first key step in problem formulation: a. Clarify the problem/opportunity b. Prepare and submit a research request agreement c. Meet with the client d. Select research problem(s) to be addressed
c. Meet with the client
Which exploratory research approach is best if you're concerned about minimizing the potential for "group think?" a. Focus groups b. Depth interviews c. Nominal groups d. All of these approaches minimize the potential for "group think."
c. Nominal groups
The first thing that must occur for research to be properly designed: a. A research request agreement must be put in place. b. Primary research data must be collected. c. The problem or opportunity must be precisely defined. d. Secondary research must be analyzed
c. The problem or opportunity must be precisely defined.
Which of the following is a potential disadvantage of using secondary data? a. The time required to retrieve and use it b. The cost involved in using it c. The quality of the data d. None of these are potential disadvantages.
c. The quality of the data
What is the primary disadvantage of using standardized marketing information as a source of secondary data? a. It can provide information to marketing researchers about some very specific areas. b. It is less expensive than collecting primary data. c. The way the data is collected is standardized so it can be used by multiple companies. d. All of these represent disadvantages.
c. The way the data is collected is standardized so it can be used by multiple companies.
Which of the following statements about the ethical reasoning frameworks is true? a. It's easy to apply these frameworks to marketing research decisions. b. It's optional to use one or more of these ethical reasoning frameworks. c. These frameworks will not always lead to the same conclusion about the ethics of research. d. All of these statements about ethical reasoning frameworks are true.
c. These frameworks will not always lead to the same conclusion about the ethics of research.
Which of the following is NOT a question at the Problem/Opportunity stage? a. Is additional background information necessary? b. What information is needed to make the decision? c. What caused the effect of the sales decline? d. What is the purpose of the study? e. How much is already known?
c. What caused the effect of the sales decline?
A concern or pitfall about the use of focus groups for exploratory research is a. that the participants talk to each other rather than the moderator. b. that everyone in the group will try to contribute ideas. c. that managers find it too easy to use focus group data to intentionally support their positions. d. that participants in the group are relatively homogeneous.
c. that managers find it too easy to use focus group data to intentionally support their positions.
Knowledge management is an effort to collect and make accessible what kind of information an organization's people possess? a. Customer information b. Product information c. Process information d. All of the above are correct.
d. All of the above are correct.
Marketing research should be avoided when a. the goal of the research is to support a particular position with pseudo-scientific results. b. attempting to sell products, services, or ideas under the guise of marketing research. c. when time, budget, or other resources are lacking to do the research properly. d. All of the above are correct.
d. All of the above are correct.
Which of the following are focus group outcomes to avoid? a. Using focus group data to provide final answers to the problem b. Using focus group data to intentionally support a manager's position c. Letting executive bias influence the interpretation of focus group data d. All of the above are correct.
d. All of the above are correct.
Evidence that the research that collected secondary data was done properly involves understanding what details about the data collection process? a. Definitions b. Data collection forms c. Method of sampling d. All of the above provide evidence that research was done properly.
d. All of the above provide evidence that research was done properly.
A manager needing to investigate why market share for a product has slipped might use which of the following exploratory research approaches to identify a research problem? a. Analysis of sales data in company databases b. A focus group with consumers c. A quick online survey of current product users d. All of these are appropriate exploratory research approaches in this example.
d. All of these are appropriate exploratory research approaches in this example.
What characterizes a sample survey? a. It studies a number of cases at the same point in time. b. It attempts to be representative of some known population. c. It usually involves a probability sampling plan to select sample members. d. All of these are characteristics of a sample survey.
d. All of these are characteristics of a sample survey.
Among the important reasons for studying marketing research are which of the following? a. Marketing research can be rewarding and fun. b. To learn to be a smart consumer of marketing research results c. To gain an appreciation of the process, what it can and cannot do d. All of these are correct.
d. All of these are correct.
Which are the major categories of firms that conduct marketing research? a. Companies that produce or sell products and services b. Advertising agencies c. Marketing research companies d. All of these are correct.
d. All of these are correct.
Which of the following is a limitation of the systems approach? a. The cost and time required to build information systems b. Different managers have different data needs. c. Managers are limited to the data available in the system. d. All of these are limitations of the systems approach.
d. All of these are limitations of the systems approach.
What factors drive the success of descriptive research studies? a. They may require exploratory research to clarify the problem and develop hypotheses. b. They must be guided by one or more specific research problems. c. They must have a clear specification of the who, what, when, where, why, and how of the research. d. All of these factors are conditions for successful descriptive research.
d. All of these factors are conditions for successful descriptive research.
Marketing research should be avoided when a. it is unethical. b. management bias cannot be overcome with valid research results. c. it wastes a company's resources. d. All of these statements about avoiding marketing research are true.
d. All of these statements about avoiding marketing research are true.
What is true about the use of panels in longitudinal studies? a. They are a fixed sample of elements, such as stores, dealers, or individuals. b. The panel remains relatively constant through time. c. The members of the panel are measured repeatedly. d. All of these statements about panels are true.
d. All of these statements about panels are true.
What is true about single-source data? a. It combines all known or obtainable customer data and resulting behaviors at the individual or household level. b. Much of the single-source data in the industry is tightly controlled by retailers. c. No existing single-source data system captures all data that marketers would like to tie to consumers or households. d. All of these statements about single-source data are true.
d. All of these statements about single-source data are true.
Which of the following statements are characteristics of depth interviews? a. Participants are selected based their likely ability to provide useful information. b. It's important to include people with differing viewpoints and opinions. c. They don't require a random sample. d. All of these statements are characteristics of depth interviews.
d. All of these statements are characteristics of depth interviews.
What is true about market testing (or test marketing, as it is often called)? a. It involves the use of a controlled experiment. b. It is done in a limited, carefully selected section of the marketplace. c. It is often used to predict the sales or profit outcomes of a proposed marketing action. d. All of these statements are true.
d. All of these statements are true.
At which stage can errors enter the marketing research process? a. Information reporting b. Data capture c. Data analysis d. At any stage
d. At any stage
When a company needs precise answers about the effects of various proposed marketing actions on important outcomes, what type of research should be used? a. Descriptive research b. Exploratory research c. Secondary research d. Causal research
d. Causal research
Which type of research is ideal for gathering primary data to compare attitudes toward a brand of energy drink between different ethnic groups? a. Exploratory research b. Secondary research c. Causal research d. Descriptive research
d. Descriptive research
Which component of a decision support system (DSS) has routines or tools for helping managers do things like make better marketing mix decisions and new product development decisions or assess alternative marketing plans? a. Data system b. Model system c. Logic system d. Dialog system
d. Dialog system
Of the key challenges of big data integration within a firm, which one does the text suggest is the biggest challenge? a. Maintaining individual privacy b. Access to and retrieval of data c. Analytic skills d. Firm integration of big data
d. Firm integration of big data
Which of the following statements about primary data is true? a. It is inexpensive to generate primary data. b. It is not new-to-the-world data. c. It should be generated even when information can be obtained from the company's internal or external sources. d. It is time-consuming to generate primary data.
d. It is time-consuming to generate primary data.
What approach seeks to systematically collect organizational knowledge and make it accessible to others? a. Customer relationship management b. Human resources management c. Enterprise resource planning d. Knowledge management
d. Knowledge management
Which of the following is NOT one of the requirements for entering the marketing research field? a. Human relations skills b. Communication skills c. Analytical skills d. Negotiation skills
d. Negotiation skills
Which part of the research request agreement discusses the groups from whom the information must be gathered? a. Background b. Logistics c. Decision problem d. Population and subgroups
d. Population and subgroups
What source of secondary data might be useful for a company seeking to understand the type of people who use its products? a. U.S. Census Bureau data b. Cost data from accounting c. An online survey of people who have purchased the products d. Product registration card data
d. Product registration card data
What is the document that is typically used to describe the nature of the problem and ask research providers to offer proposals? a. Research request agreement b. Research invoice c. Research proposal d. Request-for-proposal
d. Request-for-proposal
If goals of test marketing included preventing competitors from learning about a new product, keeping costs to a minimum and completing faster than full-scale testing, which type of market test would be best? a. Experimental b. Controlled c. Standard d. Simulated
d. Simulated
What type of test market should a firm choose if it desires to test a new product by selling it through normal distribution channels? a. Virtual b. Controlled c. Simulated d. Standard
d. Standard
The information on a product warranty card, such as serial number and contact information, is an example of which kind of data? a. Social b. Omni-channel c. Unstructured d. Structured
d. Structured
The most critical error in research work is a. coding error. b. sampling error. c. editing error. d. total error.
d. total error.
User Acquisition Data
data about your users before they visit your website
User Behavior Data
data about your users when they visit your website
Which of the following are examples unstructured data? a. "Voice of the Customer" data from posts on social media networks b. Mobile data from texting, photo sharing and in-store shopping. c. Location-based services data from navigation systems d. YouTube search and activity data e. All of the above
e. All of the above
Which of the following can consumer research be used to investigate? a. What percentage of our target market remembers our brand name? b. Should we advertise more on TV or social media? c. What is the image we want for our brand/product? d. What is our reputation with government regulatory agencies? e. All of the above
e. All of the above
Which of the following is an accurate description of consumer research? a. The process of gathering and interpreting data b. Link between the firm and the environment c. Voice of the Consumer d. Encompasses activities such as new products, advertising, product development e. All of the above
e. All of the above
Which of the following types of organizations can benefit from information about their environments and consumer understanding? a. Not for profit b. Consumer based c. Governmental based d. Political related e. All of the above
e. All of the above
Which of the following are characteristics of exploratory research? a. Small scale b. Flexible c. Fast d. Low cost e. All of the above
e. all of the above
Which of the following are common types of internal secondary data? a. Transaction data b. Customer communications c. Marketing Research tracking studies d. Warranty & Registration e. All of the above
e. all of the above
Which of the following are essential activities for developing a sound and clear problem definition? a. Conducting extensive exploratory research to pin down the issues b. Engaging the stakeholder(s) to understand their perspective c. Learning about the "broader context" d. Getting at the "root" of the issue e. All of the above
e. all of the above
Which of the following are ways to assess the accuracy of secondary research? a. Aim to use a primary (originating) source of secondary data b. Check the sponsor of the research c. Check the dates of study and of the source d. Look for details on the research design and method e. All of the above
e. all of the above
strategy-oriented decision problem
how questions, focused on actual results
Customer relationship marketing
is the process utilizing the tools to build relationships, loyalty and brand value
What are Nielsen TV ratings?
provide estimates on size and nature of audience for tv programs People Meters track channel and who is watching from ~ 20,000 HH panel
Customer relationship management
refers to the business system and tools used to carry out the marketing activities
Laboratory experiment
research investigation in which investigators CREATE A SITUATION with exact conditions in order to control some variables and manipulate others.
What is CRM?
-System that gathers all relevant information about a company's customers -Easily accessible to employees that interact with the customers -Goal is to better understand needs and behaviors of customers -CRM often refers to both the system and the corresponding sales and marketing activities -Customer relationship management refers: to the business system and tools used to carry out the marketing activities -Customer relationship marketing: is the process utilizing the tools to build relationships, loyalty and brand value
Name one of the three methods of Ethical Reasoning and give an example.
1) Justice approach - are the benefits and costs fairly distributed? 2) Utility approach - do the benefits exceed the costs? 3) Rights approach - are human rights respected?
Name the two basic sources of problems and give an example of each
1) Planned changes - future, proactive, what can happen? ex. a new product 2) Unplanned changes - past, reactive, what has happened? ex. a new competitor
Name 2 of the 5 Key reasons to avoid research.
1)Unethical-falsifying data 2)Research won't be used 3)Someone specifies what the results should be 4) Tempted to take shortcuts 5) Costs outweigh the potential benefits
Give two examples of evidence of causality
1. Consistent variation—extent to which X and Y occur together or vary together 2. Time order—shows X occurs BEFORE Y 3. Elimination of other explanations—elimination of factors other than X as the cause of Y
What are the three purposes of descriptive research?
1. Describe the characteristics of certain groups 2. Estimate the proportion of people who behave in a certain way 3. Predict specific outcomes
What are two main types of descriptive studies?
1. Longitudinal 2. Cross Sectional
What are the primary data that influence behavior?
1. Motivations 2. Attitudes 3. Psychographics (lifestyle + personality) 4. Lifestyles 5. Values 6. Personality characteristics 7. Demographics 8. Regional 9. Awareness 10. Intentions
What are the 2 issues with secondary research?
1. Poor fit due to units of measurement, different class definitions, and age of the data 2. Difficult to judge the accuracy
What are the four stages of the marketing research process?
1. Problem Definition 2. Data/info gathering 3. Data Analysis 4. Communication of results
What is a research problem and share two examples?
A restatement of the decision problem in research terms Examples: 1. Investigate current customer satisfaction 2. Assess target market perceptions 3. Determine target market awareness
What is a Decision Support System and how is it different than previous systems?
A system that combines data and models for guiding decision. The user interface is a key element enabling interactivity with the data in real time.
Name one advantage and disadvantage of a simulated test market?
Advantages: Highest security, Least costly, Fastest Disadvantages: Not as representative, Least accurate
What are some examples of Demographic/Socioeconomic data?
Age Education Income Gender Occupation Ethnicity
What is meant by "standardized" marketing information and give one example?
An external secondary resource in which the data collected by companies that sell to multiple companies. Data are "standardized" so that they can be used by multiple companies Secondary data collected by companies that sell the data to multiple companies, allowing the costs of collecting, editing, coding, and analyzing them to be shared. The data are standardized so that multiple companies can use them rather than customized for a specific company. Examples are profiling customers, measuring sales and monitoring media behavior
What are the different approaches to "Big Data" analyses
DESCRIPTIVE ANALYSIS: Designed to enhance understanding of available data to benefit firm performance. EX: Data mining PREDICTIVE ANALYSIS: Designed to aid both explanatory and forecasting abilities for the betterment of the firm. EX: regression analysis PRESCRIPTIVE ANALYSIS: Designed to optimize the various courses of action available to enhance firm performance. EX: optimization tools
What is meant by omni-channel transactional data?
Data across different platforms in potentially different formats are collected and tied together. Connected to a particular purchaser across multiple purchasing channels.
What are the main components of a Decision Support System?
Data system Model system Dialog/Language system Information
What is meant by structured data?
Data that can be captured in rows and columns in a spreadsheet Examples: transactional data, customer profile information obtained from registration materials or other sources
Which of the following approaches account for the majority of primary research? 1. Exploratory research 2. Descriptive research 3. Causal research 4. Segmentation research 5. Prescriptive analytics
Descriptive research
Predictive Analysis
Designed to aid both explanatory and forecasting abilities for the betterment of the firm. EX: regression analysis
Descriptive Analysis
Designed to enhance understanding of available data to benefit firm performance. EX: Data mining
Prescriptive Analysis
Designed to optimize the various courses of action available to enhance firm performance. EX: optimization tools
What is meant by a hybrid lab/field test?
Factors, variables are tightly controlled but the test done with "live" audiences. Can also be considered an A/B test such as Google Unskippable Labs
True or False "Normal thinking" can help managers or researchers understand the true nature of a problem.
False
True or False A/B tests are only conducted in online settings.
False
True or False Advertising agencies are most likely to do marketing research that estimates market needs for products and services.
False
True or False Descriptive research is a less common means of gathering primary data.
False
True or False Discontinuous panels rely on repeated measurements of the same variables from the same panel members.
False
True or False Exploratory research is inappropriate for any problem about which little is known.
False
True or False If an action is legal, then it is ethical.
False
True or False Like exploratory studies, descriptive studies are flexible in nature.
False
True or False Much of the data that marketing managers need to make routine decisions do not exist inside a company's databases.
False
True or False Profiling customers using market segmentation demands that firms group their customers into relatively heterogeneous groups.
False
True or False Standard test market results typically aren't as accurate as controlled test market results.
False
True or False Successful marketing researchers tend to be reactive rather than proactive.
False
True or False The answers to the who, what, when, where, why, and how of descriptive studies will be obvious.
False
True or False The element of a DSS that clearly separates it from an MIS is its model system.
False
True or False The prescriptive technique of big data analysis uses data mining to extract patterns from large data sets.
False
True or False The primary function of focus groups is to validate a seller's beliefs about its own product.
False
True or False The usefulness of a knowledge management system depends on the willingness of customers to share information.
False
True or False There is often a cost to obtaining external, secondary data, and generally it is much more comparable to collecting primary data on a topic.
False
True or False Understanding the source of a problem rarely provides clues about the type of research that is needed.
False
True or False With a known decision problem, a researcher's primary task is to develop a partial range of research problems.
False
What is Google Analytics and how is it used?
Google analytics provide statistics and insights about a website's traffic, usability, conversions, and sales It is used to understand website performance
What are all of the questions at the Problem/Opportunity stage?
Is additional background information necessary? What information is needed to make the decision? What is the purpose of the study? How much is already known? What is the source of the problem? Can a hypothesis be formed?
What is the number one rule to consider in the communication stage of the Marketing research Process?
Know your audience
What are the two types of experiments?
Laboratory experiment: research investigation in which investigators CREATE A SITUATION with exact conditions in order to control some variables and manipulate others. Field Experiment: Research study in a realistic situation in which one or more independent variables are manipulated by the experimenter under as carefully controlled conditions as the situation will permit.
What is a notable caveat about Focus Groups?
More susceptible to bias. Easy to use groups to unintentionally support personal ideas or opinions
What are some key differences between longitudinal and cross sectional studies?
Primary differences are based on sample and time frame Cross-sectional: -one point in time -different samples -change at a societal level Longitudinal -several points in time -same sample -change at the individual level
What is meant by internal validity?
the degree to which an outcome can be attributed to an experimental variable and not to other factors. Truth in the Study ex: Lab experiments tend to have higher levels of internal validity.
External Validity
the degree to which results can be repeated, extended to other situations. Truth in Real life ex: field experiments tend to have higher levels of external validity
discovery-oriented decision problem
what or why, focus is on gathering useful information
Why is behavioral data not enough in and of itself?
• Does not explain why • Doesn't tell the whole story, can miss important insights • Often hard to come by
Name some aspects of Focus Groups
• Led by a highly skilled and trained moderator • Interview conducted among a small number of individuals simultaneously • Homogeneous within group; variability introduced across groups • Typically 8 to 12 people • 1.5 to 2 hours in length • Relies, even thrives, on group discussion!
What is Ethnography?
• the study of consumers usually done in home • Involves one on one in-depth interviews studying all aspects of the lives of consumers • Designed to explore in-depth about individuals to gain a holistic consumer understanding
Field Experiment
Research study in a realistic situation in which one or more independent variables are manipulated by the experimenter under as carefully controlled conditions as the situation will permit.
Why are intentions so valuable?
Reveal anticipated or planned future behavior that shed light on our aspirations They close the gap between all other primary data and behavior, that is, intentions help us better understand behavior
What are some examples of syndicated research data provided by AC Nielsen?
Sales, Trends, Market share, Pricing, Distribution, Loyalty, Trial, Repeat, Brand, Shifting
Name two ways of measuring product sales and market share using external secondary data
Scanner data Household diary panel
What's exploratory research and what does it do?
Should provide a better understanding of the situation Is designed to provide a better understanding, increase familiarity, clarify ideas! Could yield "hypotheses"