Question 1

In which step of the marketing research process must the researcher consider the restrictions to be placed on potential solutions to a problem?

Accepted Answer

A) Develop findings. 
B) Define the problem. 
C) Collect relevant information. 
D) Develop the research plan. 
E) Take marketing actions.

Question 2

Lost-horse forecasting involves

Accepted Answer

A) admitting that the actions you have taken in the past have failed and removing those and similar actions from your list of alternatives. 
B) starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast. 
C) making decisions without any intervening steps. 
D) following a prescribed set of "directives" established before the research was even begun. 
E) selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.

Question 3

Obtaining primary and secondary data would take place during which stage of the five-step marketing research approach?

Accepted Answer

A) Define the problem. 
B) Develop the research plan. 
C) Collect relevant information. 
D) Develop findings. 
E) Take marketing actions.

Question 4

The primary purpose of a sneak preview of a film before its release is to

Accepted Answer

A) rate the performances of the individual actors and actresses for possible Oscar nominations. 
B) rate the work of the director and producer for possible Oscar nominations. 
C) evaluate the effectiveness of product placements within the film. 
D) compare the final film to the original screenplay. 
E) identify necessary changes before final editing.

Question 5

GI Designs, a copper furniture manufacturer, increased the price on its copper tabletops by 20 percent for three months to see what the effect would be on its sales. The price increase is the __________ in this three-month experiment.

Accepted Answer

A) control 
B) dependent variable 
C) independent variable 
D) constraint 
E) hypothesis

Question 6

Consider how marketing researchers and managers use information technology to turn information into marketing actions. Their work is also creating a new field of marketing research that focuses on

Accepted Answer

A) external data sources. 
B) data visualization. 
C) data warehouse presentations. 
D) internal data source coding. 
E) data maximization.

Question 7

A(n) __________ involves starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast.

Accepted Answer

A) direct forecast 
B) lost-horse forecast 
C) lost-cause forecast 
D) indirect forecast 
E) incremental forecast

Question 8

Observational data refer to

Accepted Answer

A) facts and figures newly collected for the project at hand. 
B) facts and figures obtained by asking people questions either through personal interviews, panel discussions, or questionnaires. 
C) facts and figures obtained by watching, either mechanically or in person, how people actually behave. 
D) facts and figures that have already been recorded from multiple sources before the project. 
E) conclusions developed from information obtained from a representative sample of a population.

Question 9

After defining the problem and developing the research plan, the next step in the five-step marketing research approach is to

Accepted Answer

A) collect relevant information. 
B) develop findings and recommendations. 
C) take marketing actions. 
D) plan the research budget. 
E) identify the constraints on the process.

Question 10

Extending a pattern observed in past data into the future is an example of what type of statistical forecasting?

Accepted Answer

A) causal analysis 
B) non-parametric regression 
C) curvilinear extrapolation 
D) infinite dimension 
E) linear trend extrapolation

Question 11

Questionnaire data refers to

Accepted Answer

A) the facts and figures obtained by observing people about their attitudes, awareness, intentions, and behaviors. 
B) the facts and figures obtained by analyzing people's brain waves as consumers complete surveys about their geodemographics, ethnographics, and behaviors. 
C) psychographic data obtained by asking people unbiased questions about their age, occupation, and income. 
D) the facts and figures obtained by asking people about their attitudes, awareness, intentions, and behaviors. 
E) any type of information about a consumer obtained through nontechnological methods.

Question 12

__________ includes all of the computing resources that collect, store, and analyze the data. Marketing researchers have observed that today we live in an era of data deluge. The challenge is not data collection or even storage, but how to efficiently transform the huge amount of data into useful information.

Accepted Answer

A) Data mining 
B) Environmental scanning 
C) Computerization 
D) E-marketing 
E) Information technology

Question 13

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

Accepted Answer

A) identify any factual errors or inconsistencies in the story line. 
B) nominate specific actors or actresses for industry awards. 
C) forecast a movie's opening weekend box office revenues. 
D) select the best geographical location for the movie's premiere. 
E) make changes to the movie's release based upon professional critics' reviews.

Question 14

A salesforce survey forecast involves

Accepted Answer

A) asking prospective customers if they are likely to buy the product during some future time period. 
B) asking the firm's salespeople to estimate sales during a coming period. 
C) selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect. 
D) making decisions without any intervening steps. 
E) averaging the projections obtained from just regional sales managers and then making the final projection.

Question 15

Consider how marketing researchers and data scientists use information technology to turn information into marketing actions. The challenge facing managers is not data collection or even storage but how to

Accepted Answer

A) leverage external data sources. 
B) effectively leverage results without excessive data generation. 
C) avoid the use of data warehouses. 
D) efficiently transform the huge amount of data into useful information. 
E) match buying queries to relevant outputs.

Question 16

A(n) __________ question requires respondents to select one or more response options from a set of predetermined choices.

Accepted Answer

A) depth interview 
B) open-ended 
C) fixed-alternative 
D) attitudinal 
E) semantic differential

Question 17

There are two key elements when defining a marketing research problem. One of these is

Accepted Answer

A) specify constraints. 
B) set the research objectives. 
C) determine how to collect data. 
D) evaluate previous research results. 
E) identify data needed for marketing actions.

Question 18

GI Design is a small studio that designs and builds items such as fountains and tabletops made from copper. To increase sales, Greg, the owner, developed a research plan to determine what landscape architects and interior designers wanted in copper furnishings and appropriate pricing. He had begun to interview representative designers. Greg was engaged in __________, the third step of the five-step marketing research approach.

Accepted Answer

A) developing the research plan 
B) solving the problem 
C) developing findings and recommendations 
D) collecting relevant information 
E) taking marketing actions

Question 19

The method of __________ involves generalizing the results from the sample to much larger groups of distributors, customers, or prospects to help decide on marketing actions.

Accepted Answer

A) nonprobability sampling 
B) probability sampling 
C) extrapolation 
D) statistical inference 
E) criteria sampling

Question 20

The fifth step of the marketing research approach is to

Accepted Answer

A) develop findings. 
B) define the problem. 
C) collect relevant information. 
D) develop the research plan. 
E) take marketing actions.

Exam 8: Marketing Research: From Customer Insights to Actions