Exam 8: Marketing Research, Decision Support Systems, and Sales Forecasting

Rather than relying completely on company executives, the qualitative forecasting technique seeks opinions from outside the firm, such as university researchers and scientists. What is this technique known as?

Match each item to the statement or sentence listed below. a.marketing research b.exploratory research c.secondary data d.primary data e.sampling f.hypothesis g.nonprobability sample h.interpretative research i.focus group j.marketing decision support system k.sales forecast l.jury of executive opinion m.Delphi technique n.sales force composite o.trend analysis p.exponential smoothing q.marketing information system r.data mining s.mall intercept t.simple random sample u.cluster sample v.convenience sample w.controlled experiment -A(n) _____ is an estimate of company revenue for a specified future period.

What is the average size of a focus group?

Match each item to the statement or sentence listed below. a.marketing research b.exploratory research c.secondary data d.primary data e.sampling f.hypothesis g.nonprobability sample h.interpretative research i.focus group j.marketing decision support system k.sales forecast l.jury of executive opinion m.Delphi technique n.sales force composite o.trend analysis p.exponential smoothing q.marketing information system r.data mining s.mall intercept t.simple random sample u.cluster sample v.convenience sample w.controlled experiment -A(n) _____ is a basic type of probability sample in which every individual in the relevant universe has an equal opportunity of being selected.

Analysis of a firm's sales, profits, and available competitive data is not an appropriate exploratory research technique.

Subway introduces a new line of vegetarian sandwiches in 20 locations in Southern Ontario for a six-month period. If the product and promotional efforts behind it are successful, the company may launch the sandwiches nationwide. What type of research is being conducted to determine potential success?

In simple random sampling, every member of the relevant universe has an equal opportunity of being selected.

What is a quota sample? How is it different from a stratified sample?

What is Environics Research Group?

Advances in computer technology have broadened the base of data collection for marketing research.

A quota sample is a probability sample that is divided so that different segments or groups are represented in the total sample.

Match each item to the statement or sentence listed below. a.marketing research b.exploratory research c.secondary data d.primary data e.sampling f.hypothesis g.nonprobability sample h.interpretative research i.focus group j.marketing decision support system k.sales forecast l.jury of executive opinion m.Delphi technique n.sales force composite o.trend analysis p.exponential smoothing q.marketing information system r.data mining s.mall intercept t.simple random sample u.cluster sample v.convenience sample w.controlled experiment -are interviews conducted inside retail shopping centers.

Businesses may need to adjust their data collection methods for primary research in other countries since some methods do not easily transfer across national borders.

When is a research design deemed to be successful?

List the benefits and limitations of quantitative sales forecasting techniques.

Dana is working with a computer-based system that provides a continuous flow of information relevant to his responsibilities. What system is Dana working with?

Match each item to the statement or sentence listed below. a.marketing research b.exploratory research c.secondary data d.primary data e.sampling f.hypothesis g.nonprobability sample h.interpretative research i.focus group j.marketing decision support system k.sales forecast l.jury of executive opinion m.Delphi technique n.sales force composite o.trend analysis p.exponential smoothing q.marketing information system r.data mining s.mall intercept t.simple random sample u.cluster sample v.convenience sample w.controlled experiment -Information collected specifically for the investigation in process is _____.

A common method used in conducting interpretive research involves the observation of a consumer's everyday life.

A Marketing Decision Support System (MDSS) consists of a computer hardware system that gathers, stores, retrieves, and processes the information relevant to a specific decision.

Teenage Research Unlimited, a consumer-oriented marketing research firm, wishes to obtain data on the buying habits and shopping preferences of teenagers. What kind of research should it use?