Question 1

What is data mining, and why is it used in marketing research?

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Question 2

Briefly explain what a marketing driver is. Give three examples.

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Question 3

What are the three actions a marketing manager must take in the final step of the five-step marketing research approach?

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Question 4

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

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Question 5

Briefly explain the best-known statistical method, trend extrapolation, used by marketers to develop a company's sales forecasts. In your explanation, explain the strengths and weaknesses of using this method.

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Question 6

Briefly explain the difference between a direct forecast and a lost-horse forecast.

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Question 7

Why can't a marketing manager's decision-making process stop when he or she has chosen the best alternative to solving a problem?

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Quiz 8: Marketing Research: From Customer Insights to Actions