Exam 8: Marketing Research: From Customer Insights to Actions

DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to have a prediction of how successful its sales efforts will be. The first thing researchers did was invite a group of eight insured people to talk about home and auto insurance. Their conversations were recorded and later analyzed to determine if there were any differences between customers from different markets. This was an example of

The purpose of Nielsen's "cross-platform television ratings" is to

In a decision, the restrictions placed on potential solutions to a problem are referred to as

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

Trend hunting is the practice of identifying "emerging shifts in social behavior," which are driven by changes in pop culture that can lead to new products. Trend Hunter has identified over 250,000 __________ through its global network of 155,000 members.

The third step of the marketing research approach is to

J.D. Power and Associates and other market research firms recruit groups of consumers for __________, each of whom are paid to record all of their purchases on a regular basis. Businesses pay firms such as J.D. Power for their reports that answer the question, "How many times did our customers buy our products this year compared to last year?"

What type of marketing research method is most likely being applied with observers behind a one-way mirror watching a discussion among people about topics of interest to marketers?

Several market research companies pay households and businesses to record all their purchases using a paper or electronic diary, which allows for an economical way to collect consistent data over time. These data are referred to as

The facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors are referred to as

List the elements of an information technology system used to help answer marketing questions.

National TV ratings, collected with a "people meter" and published by Nielsen, are an example of __________.

Watch was a teen publication distributed free to high school students, but the publication was unable to deliver the response rates to coupons or sample offers that its advertisers expected. After defining the marketing problem, its publisher developed a research plan, gathered information from teen focus groups, analyzed the findings, and replaced Watch magazine with Fuel for boys and Verve for girls. How would a marketer judge the publisher's actions?

Marketing research refers to

In evaluating whether its Facebook and Twitter social media programs are working well, Carmex considered using various marketing metrics. One metric it chose was __________, which quantifies the number of Carmex mentions on the Internet as a percentage of all mentions of major lip balm brands.

Data refers to the

Test screenings and tracking studies are examples of market research techniques used in the movie industry to

A survey by the Economic Research Service of the U.S. Department of Agriculture, government statistics from the Department of Commerce, and stock market information from The Wall Street Journal would all be examples of

If a researcher is seeking clear, unambiguous answers, which type of data is the researcher likely to be seeking?

Part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers uses a scale in which the respondent indicates the extent to which he or she agrees or disagrees with a statement. Which type of question format is this?