Exam 4: Market Research Essentials

The marketing manager of Big Wheel Motors notices an increased demand for "green" cars that use less fossil fuel and emit fewer pollutants. Under which of the following external information sources for making marketing decisions will this information be included?

Health+ is conducting an online focus group to learn more about the nutritional habits of senior citizens and the underlying causes of these behaviors. They are having problems because many of the members of their target market do not own computers. Which of the following disadvantages of online focus groups does this scenario illustrate?

A market information system (MIS) is a software package that companies purchase to help decision makers cope with critical information.

The marketing director of Bank Y decides to conduct a survey of 5,000 current customers to gather information to answer the research problem of what the bank can do to improve its services and customer satisfaction. She starts with a database of 50,000 current customers and randomly picks a name on the list to start. She then selects every tenth person as she goes down the list to receive a survey. She is using a ________ sampling method to select the participants for the study.

A disadvantage of online focus groups is that ________.

Conducting an online (virtual) focus group is an appropriate alternative to a traditional focus group format, and it offers cost-efficiency and convenience.

Which of the following types of research is less structured and can employ methods such as surveys and interviews to collect the data?

The owners of Tyrell's Tattoo Shop are interested in determining the nature of the relationship between their clients' professional occupation and the number of tattoos that individuals have. In this case, which research will result in the most appropriate way to explain the nature of this relationship?

The manager of Gina's Groceries wanted to see how customers would react to some new displays. To collect this information, she posted employees where they could see the display and had them record how long customers looked at it, whether they picked up the item, and if they took the item with them. In this case, she is using ________ for her market research.

Concerned by recent negative trends in economic indicators such as the consumer price index, gross domestic product, and inflation, the marketing manager of Kevin's Kayaks recommends that the company reduce its advertising spending. His recommendation is based on ________ data.

The sole proprietor of Sam's Swings is interested in gaining a better understanding of his current customers in terms of certain demographic and lifestyle characteristics so he may better serve their needs. For this purpose, he should most appropriately conduct ________ research.

Not tracking and responding to demographic changes is a management failure because the data are easy to obtain and major changes occur slowly.

Which of the following is an external source of collecting information for making marketing decisions?

The marketing managers of Brand Z Shoes have clearly defined their research problem as "If we increase our promotions expenditures, by what percentage will it increase sales?" They have also decided that they need primary data to answer this question. To collect these data, it is best for them to use ________ research.

Dan is creating a survey for his company. The question he is currently working on asks his business-to-business customers to describe the ideal purchasing transaction. Dan is utilizing a(n) ________ question.

Most companies do a good job of maximizing their existing information.

A shoe manufacturing company is interested in selling its products in a new country. Before entering the marketplace, the company wishes to gather information about how the country's citizens set priorities and make buying decisions. For this purpose, the company is most likely to analyze the country's ________.

A major problem for most managers today is having too little information.

________ is defined as the methodical identification, collection, analysis, and distribution of data to discover and solve marketing problems or enhance good decision making.

An advantage of secondary data over primary data is that they ________.