Marketing Chapter 4 Market Research

e

A colleague needs to collect descriptive data about his​ customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research​ project? A. An experiment B. Secondary data C. An ethnographic study D. Observation E. A survey

d

A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this​ company's research​ plan? A. Analyze potential data sources. B. Share the data with other companies in similar situations. C. Determine the best method to conduct research. D. Collect the data. E. Define the problem.

c

Competitive marketing intelligence is primarily responsible for​ _____________. A. using primary data over secondary B. implementing the research plan C. the systematic collection and analysis of publicly available information D. developing the research plan E. defining the problem

a

Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient​ MIS? A. Assess the information needs of the company. B. Analyze the information gathered in market research. C. Determine how to use the information gathered by market research. D. Distribute necessary information to the marketing team. E. Conduct surveys or focus groups to gather information.

touch points

What are basically every contact between a customer and company that include customer purchases, sales force contacts, service and support calls, web and social media visits, satisfaction surveys, payment interactions, etc.?

in probability samples each population member has a known change of being included and researchers can calculate confidence limits for sampling errors nonprobability samples are used when probability samples are too expensive but researchers cannot account for sampling errors

What are the differences between probability samples and nonprobability samples?

b

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the​ company's network. This is known as​ ___________. A. marketing intelligence B. an internal database C. marketing research D. an intranet E. online marketing research

e

Sky owns a small hot air balloon company in​ Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for​ store-sponsored hot air balloon trips. They believe​ Sky's expertise would make him the perfect guide. Sky decides to host quarterly hot air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from​ Sky's situation? A. Customer insights are not dependable. B. Customer insights can be gained only through costly market research. C. Most small businesses have no way of easily accessing customer insights. D. Customer insights are emotional and often irrelevant to a small business. E. Customer insights can provide valuable information to a small businesses.

convenience sample, judgment sample and quota sample

What are the nonprobability samples?

b

To develop needed​ information, marketing information systems utilize​ _________. A. marketing​ intelligence, marketing​ research, and the marketing environment B. internal​ databases, marketing​ intelligence, and marketing research C. marketing​ managers, information​ users, and internal databases D. internal​ databases, marketing​ research, and marketing managers E. internal​ databases, big​ data, and market research

defining the problem/research objectives, developing the research plan, implementing the research plan, and interpreting/reporting the research findings

What are the steps in the marketing research process?

observational, ethnographic, survey, experimental, focus groups and online marketing research

What are the types of primary data?

people and procedures dedicated to assessing info needs, developing the needed info, and helping decision makers to use the info to generate and validate actionable customer and market insights

What do marketing information systems (MIS) do?

ethnographic research

What is a form of observational research that involves sending trained observers to watch and interact with consumers in their natural environments?

simple random sample

What is a sample in which every member of the population has a known and equal chance of selection?

stratified random sample

What is a sample in which the population is divided into mutually exclusive groups and random samples are drawn from each group?

cluster (area) sample

What is a sample in which the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview?

primary data

What is information collected for the specific purpose at hand?

e

Which of the following BEST describes the research​ relationships? A. Observation is best suited for descriptive​ research, surveys for causal​ research, and experiments for exploratory research. B. Observation is best suited for exploratory​ research, surveys for causal​ research, and experiments for descriptive research. C. Observation is best suited for descriptive​ research, surveys for exploratory​ research, and experiments for causal research. D. Observation is best suited for causal​ research, surveys for exploratory​ research, and experiments for descriptive research. E. Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research.

c

Which of the following statements about big data is​ correct? A. Analyzing big data will always lead to useful customer insights. B. Big data actually refers to very small data sets. C. One result of big data is that marketing managers are often overloaded and overwhelmed with information. D. Analyzing big data is a very easy task. E. Big data is very important because marketers today need more information to make good decisions.

a

Which of the following statements about online research is​ correct? A. Online surveys generally have higher response rates than those conducted by mail or phone. B. Experiments cannot be conducted online. C. Focus groups are rarely conducted online. D. It is more expensive to conduct online research than to do a​ mail, phone, or personal interview. E. Online research is only feasible for large companies.

b

​_______ consists of the analysis​ tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance. A. Big data B. Marketing analytics C. CRM D. Touch points E. Marketing information

simple random, stratified random, and cluster (area)

What are the probability samples?

quota sample

What is a sample in which the researcher finds and interviews a prescribed number of people in each of several categories?

convenience sample

What is a sample in which the researcher selects the easiest population members from which to obtain info?

judgment sample

What is a sample in which the researcher uses his/her judgment to select population members who are good prospects for accurate info?

sample

What is a segment of the population selected for marketing research to represent the population as a whole?

survey research

What is gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying behavior?

experimental research

What is gathering primary data by selecting matched groups of participants, giving them different treatments, controlling related factors and checking for differences in responses?

observational research

What is gathering primary data by watching relevant people, actions and situations?

secondary data

What is information that already exists somewhere, having been collected for another purpose?

customer relationship management (CRM)

What is managing detailed info about individual customers and carefully managing customer touch points to maximize customer loyalty?

descriptive research

What is marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers?

exploratory research

What is marketing research to gather preliminary info that will help define problems and suggest hypotheses?

causal research

What is marketing research to test hypotheses about cause-and-effect relationships?

surveys

What is the most widely used method for primary data collection?

a

Which kind of company would most benefit from conducting marketing​ research? A. Both large multinationals like Disney and IBM and small locals truly need market research. B. Only​ medium-sized companies that are about half the size of Disney and IBM need market research. C. Only small locals like​ Beatrice's Bistro need market research. D. Neither large multinationals like Disney and IBM nor small locals truly need market research. E. Only large multinationals like Disney and IBM need market research.

b

Which of the following would be good advice for someone that is conducting marketing research in a foreign​ country? A. Language translation will be easy. B. Reaching respondents in other parts of the world is more difficult than it is in the U.S. C. Consumers in foreign markets generally enjoy participating in marketing research. D. You can easily find good secondary data in most foreign markets. E. Globalization has slowed​ down, so international research is no longer necessary.

b

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research? A. To guarantee the product being researched will be successful B. To have a​ "full picture" of the subject of its study C. To keep costs down D. To avoid complaints that the study is not reliable E. To ensure the data is usable

a

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a small payment. You are participating in​ a(n) ________. A. focus group interview B. experiment C. ethnographic study D. immersion group E. individual interview