Question 1

The most critical criterion in selecting a sampling technique is

Accepted Answer

The most critical criterion is how well the sample represents the population, as this ensures the results can be generalized to the entire population.

Question 2

In research, after data has been collected, the next step is to

Accepted Answer

The answer of In research, after data has been collected,...

Question 3

In primary research, once data has been collected and the questionnaire has been coded, the next step for the researcher is to

Accepted Answer

After coding the questionnaire, the next step is to input the data into a computer program for analysis.

Question 4

Forecasts using sales force composite estimates are based on

Accepted Answer

Sales force composite estimates rely on the personal observations and "hunches" of the sales force, as they are based on the insights and experiences of the sales team regarding future sales.

Question 5

Forecasts using jury of expert opinion estimates are based on

Accepted Answer

The answer of Forecasts using jury of expert opinion estimates...

Question 6

Forecasts using the Delphi method estimates are based on

Accepted Answer

The Delphi method involves consulting a panel of experts who provide their opinions on future demand. These opinions are aggregated and shared with the experts, and the process is repeated until a consensus is reached.

Question 7

Forecasts using time series analysis are based on

Accepted Answer

Time series analysis involves using historical data to identify patterns and trends, which are then used to predict future outcomes. This method relies on past performance data to forecast future market demand.

Question 8

Forecasts using econometric methods are based on

Accepted Answer

The answer of Forecasts using econometric methods are based on
...

Question 9

Forecasts using the analogy method are based on

Accepted Answer

The analogy method involves using developments and findings from similar markets to predict outcomes in the market of interest.

Question 10

Forecasts using Point-of-Sales (POS) systems are based on

Accepted Answer

The answer of Forecasts using Point-of-Sales (POS) systems are based...

Question 11

In addition to monitoring the products their company sells, marketers also need to monitor forces that may impact their firm's operation.

Accepted Answer

In addition to monitoring the products their company sells, marketers also need to monitor the different forces that may impact their firm's operation.

Question 12

Marketing research involves the systematic design, collection, recording, analysis, interpretation, and reporting of information pertinent to a firm's operation and decisions they must make.

Accepted Answer

Marketing research involves the systematic design, collection, recording, analysis, interpretation, and reporting of information pertinent to a particular marketing decision facing a company.

Question 13

While marketing research is excellent for investigating specific marketing issues, it is not effective in investigating broader, marketing strategy type of issues that are relevant to the company and its operation.

Accepted Answer

Marketing research is useful for investigating specific marketing issues, as well as broader, marketing strategy type of issues or industry issues that are relevant to the company and its operation.

Question 14

In developing strong brands, brand name recognition and brand awareness are important.

Accepted Answer

In developing strong brands, brand name recognition and brand awareness are important. A component of buyer behavior research, called brand awareness research, investigates how consumers' knowledge and recognition of a brand name affects their purchasing behavior.

Question 15

In the U.S. consumer packaged-goods industry, companies spend about $20 million to introduce new products and about 50% of new products fail.

Accepted Answer

In the U.S. consumer packaged-goods industry, companies spend about $20 million to introduce new products, but about 80% of new products fail.

Question 16

Competitive product studies help firms determine consumers' reactions to various package designs, the extent to which the package adequately communicates information to the consumer, and the distribution implications of packaging decisions.

Accepted Answer

It is product package design studies that provide this type of information about packaging.

Question 17

The first step in channel design for a product is usually a channel performance and coverage study.

Accepted Answer

The first step in channel design for a product is usually a channel performance and coverage study, which investigate whether existing channels are appropriate for the marketing task at hand.

Question 18

An important commercial media research firm that provides television ratings for the different TV shows is Nielsen Media Research.

Accepted Answer

Nielsen Media Research is a top commercial media research firm that provides television ratings for the different TV shows.

Question 19

Pricing research has shown that attitudes towards prices have changed, but that financially well-off consumers still do not bargain-hunt or shop at discount stores.

Accepted Answer

Pricing research has found just the opposite. Financially well-off consumers often flaunt their bargain-hunting abilities.

Question 20

One reason many firms hire an outside marketing research company to conduct research is because the outside vendor normally has greater marketing research expertise than internal employees.

Accepted Answer

It is because of this marketing research expertise that outside research firms are often used.

Quiz 7: Marketing Research