Question 1

The Internet sites for The Wall Street Journal,CNBC,and Fox Business News

Accepted Answer

The Internet sites for The Wall Street Journal, CNBC, and Fox Business News provide up-to-the-minute business news and video clips about companies, industries, and trends.

Question 2

Two important disadvantages of secondary data are __________ and __________.

Accepted Answer

Secondary data may not be up-to-date, as it may have been collected at an earlier time for a different purpose. It also may not be specific enough for the current project, as it was not collected with the current research question in mind.

Question 3

According to research conducted by Canadian cultural anthropologists,Canadians place a high importance on personal relationships.This leads them to be extremely reluctant to buy through an impersonal medium like a telephone.For an insurance company that was hoping to sell insurance through telemarketers,this research would be an example of

Accepted Answer

The answer of According to research conducted by Canadian cultural...

Question 4

When customers have their groceries scanned at the supermarket checkout counter,the data are collected and processed by services such as SymphonyIRIGroup's (IRI)InfoScan.Consumer product firms like Proctor & Gamble use data collected by IRI to allocate scarce marketing resources.Which of the following data are NOT collected at retail checkout counters?

Accepted Answer

Household demographics are not collected at retail checkout counters; they require additional data sources like loyalty programs or surveys.

Question 5

The Economic Research Service of the U.S.Department of Agriculture provides information on topics from how many dairies there are in the U.S.to how much broccoli was eaten per person in 2012.This service provides

Accepted Answer

The Economic Research Service is providing information on various topics that are not related to their internal operations, which suggests that they are using external secondary data.

Question 6

Google

Accepted Answer

Google is the most popular Internet portal where users can enter keywords or topics for specific searches. It is a search engine that indexes web pages, which makes it easy for users to find the information they need.

Question 7

The 2007 __________ contains data on the number and sales of establishments in the United States that produce a good or service based on its geography,industry sector,and North American Industry Classification code.

Accepted Answer

The 2007 Economic Census is conducted every five years and provides detailed information on various aspects of the U.S. economy, including the number and sales of establishments based on geographic location, industry sector, and NAICS code. The other surveys listed focus specifically on retail trade, manufacturing, wholesale trade, or service industries, and do not provide as comprehensive data on the entire U.S. economy.

Question 8

The Internet sites STAT-USA and the U.S.Census Bureau

Accepted Answer

STAT-USA and the U.S. Census Bureau are both government agencies that collect and provide information on U.S. business, economic, and trade activity.

Question 9

Two important advantages of secondary data are that it is __________ and __________.

Accepted Answer

Secondary data is often already collected and available, making it inexpensive or even free to obtain. Additionally, using secondary data saves time because it does not require the time and resources necessary to collect primary data.

Question 10

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

Accepted Answer

The 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 are all sources of external secondary data since they were collected by organizations outside of the company for the purpose of being used by others.

Question 11

Published data from outside the organization are referred to as __________ data.

Accepted Answer

External secondary data refers to published data that are obtained from sources outside the organization. These may include government publications, industry reports, academic literature, market research reports, and news articles. External primary data, proprietary data, and internal secondary data are all generated within the organization. Internal primary data is collected through research conducted by the organization, while internal secondary data refers to information that is already available within the organization, such as sales reports, customer data, and financial statements.

Question 12

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 __________.

Accepted Answer

The practice described in the question is commonly known as syndicated panel data. This refers to data collected from a panel of individuals or households who regularly provide information about their purchases over time. This method allows for consistent data collection without the need for continuous recruitment and onboarding of participants, making it an economical and reliable way to collect market research data.

Question 13

A general rule of thumb among marketing researchers is to use __________ first and then collect _________.

Accepted Answer

It is typically more time and cost effective to begin with existing secondary data before collecting primary data. By starting with secondary data, researchers can identify key variables of interest and potentially uncover any existing trends or patterns in the market that can inform their subsequent primary data collection.

Question 14

When Karsh & Hagan Advertising Agency uses information found in Nielsen Television Index Ranking Report published by Nielsen Media Research to plan television advertising schedules for its clients,it is relying on __________ data.

Accepted Answer

The information obtained from the Nielsen Television Index Ranking Report is external secondary data, as it is collected by an external source and used by the agency for planning purposes.

Question 15

The U.S.Census Bureau publishes the __________,which is conducted every five years and contains detailed information on the number and sales of U.S.establishments that produce goods or resources.

Accepted Answer

The Economic Census is conducted every five years by the U.S. Census Bureau and provides detailed information on the number and sales of U.S. establishments that produce goods or resources. Therefore, option B is the correct answer. Options A, C, D, and E are also conducted by the U.S. Census Bureau but do not provide the same level of detail as the Economic Census when it comes to production and sales of establishments.

Question 16

The J.D.Power & 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 like 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?"

Accepted Answer

The question mentions "recruit groups of consumers for each of whom are paid to record all of their purchases on a regular basis". This describes a syndicated panel, where a group of consumers are chosen to report on their purchases on an ongoing basis. Also, the businesses pay for reports that answer the question "how many times did our customers buy our products this year compared to last year?" which is exactly what syndicated panels provide - information on consumer behavior over time.

Question 17

The Internet site USA.gov

Accepted Answer

USA.gov is a portal to all government websites that can be found by topic or keyword. It provides links and resources to various government agencies and departments, making it a useful starting point for people seeking information or services from the federal government.

Question 18

Several marketing data services provide information on household demographics and lifestyle,purchases,TV viewing behavior,etc.The principle advantage of these services is that

Accepted Answer

The principle advantage of these services is that they can collect, analyze, interrelate, and present information on household demographics and lifestyle, purchases, TV viewing behavior, etc. in a comprehensive and integrated manner. This saves time and effort for firms, allowing them to make informed marketing decisions based on a holistic understanding of their target audience.

Question 19

All of the following are examples of marketing outcome data EXCEPT:

Accepted Answer

The answer of All of the following are examples of...

Question 20

Information in online databases consist of two categories: (1)indexes to articles in periodicals,and (2)statistical or financial data on markets,products,and organizations.These can be accessed either directly,via Internet search engines,or using

Accepted Answer

Portals through keyword searches allow for more specific and efficient searches in online databases, including indexes to articles and statistical or financial data. Internet search engines can also be used, but they may provide a wider range of results that may not be as relevant. Internal statistical data, probability sampling data, personal chat rooms, and social media like Facebook are not typically used to access online databases for information.

Quiz 7: Marketing Research: From Customer Insights to Actions

The Internet sites for The Wall Street Journal,CNBC,and Fox Business News

Two important disadvantages of secondary data are and .

The Economic Research Service of the U.S.Department of Agriculture provides information on topics from how many dairies there are in the U.S.to how much broccoli was eaten per person in 2012.This service provides

Google

The 2007 __________ contains data on the number and sales of establishments in the United States that produce a good or service based on its geography,industry sector,and North American Industry Classification code.

The Internet sites STAT-USA and the U.S.Census Bureau

Two important advantages of secondary data are that it is and .

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

Published data from outside the organization are referred to as __________ data.

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 __________.

A general rule of thumb among marketing researchers is to use __ first and then collect _.

When Karsh & Hagan Advertising Agency uses information found in Nielsen Television Index Ranking Report published by Nielsen Media Research to plan television advertising schedules for its clients,it is relying on __________ data.

The U.S.Census Bureau publishes the __________,which is conducted every five years and contains detailed information on the number and sales of U.S.establishments that produce goods or resources.

The Internet site USA.gov

Several marketing data services provide information on household demographics and lifestyle,purchases,TV viewing behavior,etc.The principle advantage of these services is that

All of the following are examples of marketing outcome data EXCEPT:

Information in online databases consist of two categories: (1) indexes to articles in periodicals,and (2) statistical or financial data on markets,products,and organizations.These can be accessed either directly,via Internet search engines,or using