Exam 8: Marketing Research: From Customer Insights to Actions

Marketing Research Method Photo C -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 in a group of eight insured people to talk about home and auto insurance.Their conversation was recorded and later analyzed to determine if there were any differences between customers from different markets.This was an example of a(n)

Drawing conclusions about a population from a sample taken from that population is referred to as

decision refers to

__________ is a type of forecast that involves estimating the value to be forecast without any intervening steps.

conducting marketing research,why would you ask the questions,"Did you like the ending?" and "If not,how would you change it?" after the test screening of a movie?

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."

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

obtained by manipulating factors under tightly controlled conditions to test cause and effect is an example of

Several years ago,SwissAir made some unwise investments to pay for a planned expansion.As a result,the company had to make some cost-cutting moves that alienated its customers.Eventually,the company declared bankruptcy,regrouped,and found itself able to resume business.Its board of directors recently announced that the company would resume flying if it could prove that the airline could regain at least 75 percent of its lost customers.It decided to allocate $50,000 to determine the likelihood that its former customers would fly on the airline again and find methods requiring little or no money that could be used to increase that probability.This description represents which stage in the marketing research approach?

Marketing researchers use tracking studies immediately before an upcoming film's release to

collection of databases that store,organize,and manage data sources is called a _________.

Figure 8-2a -Figure 8-2a above shows the two main types of data.If "A" represents the facts and figures that are newly collected for the project,which type of data is "A?"

most common way of collecting questionnaire data to generate ideas,which involves a single researcher asking questions of one respondent is referred to as a(n)

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

Marketing Research Method Photo B -Individual interviews involve

Wall Street Journal,CNBC,and Fox Business News

Figure 8-2b -Figure 8-2b above shows that secondary data may be divided into two related parts.If "A" represents marketing input and outcome data (budgets,call reports,customer communications,etc.),which type of data is "A?"

Home Depot entered the Quebec market,two percent of the population were aware of the retail chain.To determine how effective its advertising was in the first 18 months of its presence in Quebec,the firm conducted awareness research for a second time.Prior to conducting the research,it was decided that if at least 50 percent of the population were aware of the Home Depot brand,it would continue its present advertising program.This is an example of a(n)

test market for a new Kellogg's cereal is an example of

Secondary data are the