Question 1

In estimating the value of research information, which of the following should not be calculated?

Accepted Answer

A) The expected value of the decision 
B) The probability of obtaining each outcome 
C) How the research would affect the expected value of the decision 
D) The amount to be gained or lost corresponding with each outcome 
E) The value of additional information 
A) The expected value of the decision 
B) The probability of obtaining each outcome 
C) How the research would affect the expected value of the decision 
D) The amount to be gained or lost corresponding with each outcome 
E) The value of additional information E

Question 2

In marketing research, the obvious problem is the one which should first be addressed.This may save the cost of exploratory research and will sooner or later reveal the underlying problem.

Accepted Answer

A) True 
 B)False  False

Question 3

Identifying loyal customers and doing targeted marketing are essential components in opportunity analysis

Accepted Answer

A) True 
 B)False  True

Question 4

The single most important element of good research is the development of a research purpose that links the research to decision making.

Accepted Answer

A) True 
 B)False

Question 5

Research studies evolve through a number of steps which are linked

Accepted Answer

A) sequentially 
B) randomly. 
C) geographically. 
D) they are not linked 
E) symmetrically 
A) sequentially 
B) randomly. 
C) geographically. 
D) they are not linked 
E) symmetrically

Question 6

What is the expected value to Veekay of introducing the new line of personal computers?

Accepted Answer

A)  $8.4 million 
B)  $6.0 million 
C)  $9.8 million 
D)  $5.0 million 
E)  $9.4 million 
A)  $8.4 million 
B)  $6.0 million 
C)  $9.8 million 
D)  $5.0 million 
E)  $9.4 million

Question 7

Assuming that the environmental variables prevalent in the researcher's domestic market is also applicable to the foreign country is called

Accepted Answer

A) Self-Reference Criterion. 
B) ethnocentricity. 
C) geocentricity. 
D) home country affiliation. 
E) none of the above. 
A) Self-Reference Criterion. 
B) ethnocentricity. 
C) geocentricity. 
D) home country affiliation. 
E) none of the above.

Question 8

Researchers have the option to undertake the marketing research process sequentially or non-sequentially

Accepted Answer

A) True 
 B)False

Question 9

The research director was asked what the total cost of the research would be He stated that after including all the expenses of the test market, salaries, wages, outside consulting fees etc.the total cost would be $4.4 million.Should the company do the research study proposed by the director?

Accepted Answer

A)  yes 
B)  no 
C)  does not make any difference, expected profits are the same either way 
D)  not enough information to complete the decision tree and all calculations 
E)  not enough time to do a decision tree 
A)  yes 
B)  no 
C)  does not make any difference, expected profits are the same either way 
D)  not enough information to complete the decision tree and all calculations 
E)  not enough time to do a decision tree

Question 10

Which of the following is the most essential characteristic of good decision making information?

Accepted Answer

A)  accuracy 
B)  currency 
C)  sufficiency 
D)  relevancy 
A)  accuracy 
B)  currency 
C)  sufficiency 
D)  relevancy

Question 11

Foreign market opportunity analysis is a frequent reason to conduct international marketing research

Accepted Answer

A) True 
 B)False

Question 12

Sources of information to develop hypotheses include

Accepted Answer

A) previous research. 
B) exploratory research specifically designed to come up with a hypothesis. 
C) different academic fields, such as psychology, sociology, and marketing. 
D) a manager's past experience. 
E) all of these. 
A) previous research. 
B) exploratory research specifically designed to come up with a hypothesis. 
C) different academic fields, such as psychology, sociology, and marketing. 
D) a manager's past experience. 
E) all of these.

Question 13

Which of the following is not true of a hypothesis? They

Accepted Answer

A)  may be accepted or rejected 
B)  are merely a restatement of a research question 
C)  may be unproven 
D)  are all of the above 
A)  may be accepted or rejected 
B)  are merely a restatement of a research question 
C)  may be unproven 
D)  are all of the above

Question 14

The research design does not involve

Accepted Answer

A) determining the sampling plan. 
B) decisions on the sampling frame. 
C) collection of the data to be used. 
D) creating the questionnaire. 
E) selection of the research approach. 
A) determining the sampling plan. 
B) decisions on the sampling frame. 
C) collection of the data to be used. 
D) creating the questionnaire. 
E) selection of the research approach.

Question 15

In an effort to avoid redundant research, it is important to indicate the scope of the research.The more important the purpose of the research, the broader the scope should be.

Accepted Answer

A) True 
 B)False

Question 16

If Veekay bases their decision only on expected values, should they introduce the new line of personal computers?

Accepted Answer

A)  yes 
B)  no 
C)  they would be indifferent 
D)  not enough information is given 
E)  they should provide free sample instead of doing any market research 
A)  yes 
B)  no 
C)  they would be indifferent 
D)  not enough information is given 
E)  they should provide free sample instead of doing any market research

Question 17

The research question

Accepted Answer

A) refers to the question of whether or not to proceed at each evaluation point in the research project. 
B) should not be specified in research involving internal problem-solving. 
C) should be prepared in general terms. 
D) asks what specific information is needed to achieve the research purpose. 
E) should be consistent with the research purpose, with only one question stated for each purpose. 
A) refers to the question of whether or not to proceed at each evaluation point in the research project. 
B) should not be specified in research involving internal problem-solving. 
C) should be prepared in general terms. 
D) asks what specific information is needed to achieve the research purpose. 
E) should be consistent with the research purpose, with only one question stated for each purpose.

Question 18

Research that will not affect management decisions has no practical value.

Accepted Answer

A) True 
 B)False

Question 19

The objective of foreign market opportunity analysis is to gather information on questions to help the management narrow down the possibilities for international marketing activities.

Accepted Answer

A) True 
 B)False

Question 20

Hypothesis development and research boundaries help the researcher make the research question more specific Veekay Co.recently developed a new line of computers.Prior to the introduction the management felt that the product had 40% chance of being extremely successful, 20% chance of being successful, and 40% chance of failing.If extremely successful the product would generate $15 million in profits over the planning period, if successful $10 million, and if it failed the result would be loss of $5 million.If Veekay does not introduce this new line, they will stay with the current product and realize a profit of $5 million based on the company's projections. Based on the above information, answer the following questions:

Accepted Answer

A) True 
 B)False

Exam 3: The Marketing Research Process

In estimating the value of research information, which of the following should not be calculated?

In marketing research, the obvious problem is the one which should first be addressed.This may save the cost of exploratory research and will sooner or later reveal the underlying problem.

Identifying loyal customers and doing targeted marketing are essential components in opportunity analysis

The single most important element of good research is the development of a research purpose that links the research to decision making.

Research studies evolve through a number of steps which are linked

What is the expected value to Veekay of introducing the new line of personal computers?

Assuming that the environmental variables prevalent in the researcher's domestic market is also applicable to the foreign country is called

Researchers have the option to undertake the marketing research process sequentially or non-sequentially

The research director was asked what the total cost of the research would be He stated that after including all the expenses of the test market, salaries, wages, outside consulting fees etc.the total cost would be $4.4 million.Should the company do the research study proposed by the director?

Which of the following is the most essential characteristic of good decision making information?

Foreign market opportunity analysis is a frequent reason to conduct international marketing research

Sources of information to develop hypotheses include

Which of the following is not true of a hypothesis? They

The research design does not involve

In an effort to avoid redundant research, it is important to indicate the scope of the research.The more important the purpose of the research, the broader the scope should be.

If Veekay bases their decision only on expected values, should they introduce the new line of personal computers?

The research question

Research that will not affect management decisions has no practical value.

The objective of foreign market opportunity analysis is to gather information on questions to help the management narrow down the possibilities for international marketing activities.

A Decision Making Perspective on Marketing Intelligence

Marketing Research in Practice

Research Design and Implementation

Secondary Sources of Marketing Data

Standardized Sources of Marketing Data

Marketing Research on the Internet

Information Collection: Qualitative and Observational Methods

Information From Respondents: Issues in Data Collection

Information From Respondents: Survey Methods

Attitude Measurement

Designing the Questionnaire

Experimentation

Sampling Fundamentals

Sample Size and Statistical Theory

Fundamentals of Data Analysis

Hypothesis Testing: Basic Concepts and Tests of Association

Hypothesis Testing: Means and Proportions

Correlation Analysis and Regression Analysis

Discriminant, Factor and Cluster Analysis

Multidimensional Scaling and Conjoint Analysis

Presenting the Results

Marketing-Mix Measures

Brand and Customer Metrics

New Age Strategies

Filters