Exam 7: Marketing Research, Decision Support Systems, and Sales Forecasting

After cost, the reliability and accuracy of the information collected by an outside organization is a major factor in the decision of whether to conduct a marketing research study internally or to use an outside source.

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

Distinguish between primary and secondary data.Can primary and secondary data be internal and external? Provide examples of each type of data.

In recent years, how have advances in computer technology significantly changed the nature of marketing research?

Hi-Test Cola Company wanted to create a sample that would contain 25 of its regular cola drinkers, 25 of its diet cola drinkers, 25 of its diet caffeine-free drinkers, and 25 of its caffeine-free regular cola drinkers.The company did this by stopping people on the street and continuing until it had spoken to enough people to meet the requirement.Which of the following the sampling methods was used?

What is a statement called that potentially explains the relationship among variables, which, in turn, carries clear implications for testing the relationship?

Statistics Canada collects, organizes, and publishes information gained from a census that is taken every two years.

The mail survey remains the most common method for conducting primary marketing research outside North America.

Due to its low cost, the controlled experiment is the most commonly used method of collecting data for marketing research.

Marc is an entrepreneur who wants to export products to other countries.What is a major source for Marc to learn about marketing activities and consumers in those countries?

Because the content of the Internet is posted by people with in-depth knowledge of the subjects they are reporting, it can be trusted implicitly.

What is a group of people chosen from a defined population to be survey respondents or research participants called?

Exponential smoothing is a sophisticated method of trend analysis that weighs each year's sales data, giving greater weight to results from earlier years.

In which of the following examples would it be the MOST effective to use a test market?

What is a master plan or model for conducting marketing research called?

Describe probability and nonprobability sampling, and discuss different variations of each.

A marketing research firm can provide technical assistance and expertise not available within the contracting firm.

What is the average size of a focus group?

The cost and time involved in collecting secondary data makes it a less-than-economical choice for most firms when compared to collection of primary data.

Primary data has the advantage of being timely and completely relevant to the research.