Exam 8: Marketing Research: From Customer Insights to Actions

Briefly explain the best-known statistical method,trend extrapolation,used by marketers to develop a company's sales forecasts.In your explanation,explain the strengths and weaknesses of using this method.

Considering the five-step marketing research approach leading to marketing actions,the feedback loop

Data mining refers to

There are three key elements when developing the research plan.One of these is

A potential difficulty with experiments such as test markets is that outside factors,such as the actions of competitors,can distort the results by affecting ________,such as sales.

A decision refers to a(n)

DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell insurance and deal with claims.It wants to pursue new markets,but with some idea of how successful its sales efforts will be.Researchers invited a group of eight insured people to its headquarters to discuss their attitudes about home and auto insurance and awareness of DirectProtect.Responses were gathered on paper as ________ data.

In conducting marketing research on Facebook,Carmex is considering using a marketing metric that measures how active its Facebook audience is with Carmex,such as when consumers post a comment on the Carmex wall or reply to one of the Carmex posts.This metric is called Carmex

Best Western International,Inc. ,a national hotel chain,paid couples to film themselves as they spent three to seven days on a cross-country trip.Best Western found that women usually decide when to pull off the road,where to stay overnight,and what amenities the lodging should have to make their stay more enjoyable.These couples made choices in an authentic environment,providing ________ research to Best Western.

What marketing metric determines whether a TV program such as 60 Minutes remains on the CBS broadcast TV network?

Large databases are subject to ________ platforms which undertake reasoning and common sense tasks to allow computers to "behave" intelligently.

Briefly explain what a marketing driver is.Give three examples.

When Procter & Gamble acquired the Old Spice brand,it decided to reposition the brand by using different television and print advertising to see whether sales would increase.The level of sales is the ________ in this experiment.

Penningtons Superstore,which specializes in plus-size fashions for women,wanted to determine if it should add a line of plus-size junior wear.The following statement reflects which step in the five-step marketing research approach? "To compare the effectiveness of offering products for the teenage market in our current stores versus opening separate stores targeted directly to this market,let's distribute questionnaires to current shoppers and solicit their opinions,set up some focus groups with plus-size teens,and locate any relevant secondary research."

Figure 8-4,Question 5 -Consider Figure 8-4,Question 5 above,which was part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers.Question 5 illustrates which type of question format?

What are the three actions a marketing manager must take in the final step of the five-step marketing research approach?

All of the following are sources of primary data except which?

Specifying constraints,identifying data needed for marketing actions,and determining how to collect data would all take place during which step of the five-step marketing research approach?

Marketing teams must be vigilant in looking for ways to improve the analysis and results in order to learn lessons that might apply to future marketing research efforts.Evaluating the results of marketing research includes

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