Question 1

Which of the following statements about the cost and value of information is False?
A) Dependable information can be expensive.
B) Managers rarely get all the information they would like to have.
C) Money may be wasted if a manager ignores the facts revealed in a marketing research study and bases his/her decisions on guesswork.
D) The cost of gathering additional information is always justified by its value.
E) All of these statements are False.

Accepted Answer

The value of additional information lies in its ability to help design more effective marketing strategies. If it doesn't help to do that, then it's definitely of less value. Similarly, different research methods provide different insights and come at different costs.

Question 2

This frequently used approach for analyzing and interpreting marketing research data shows the relationship of answers to two different questions.
A) Observation
B) Focus group interviews
C) Online response rates analysis
D) Experimental approach
E) Cross-tabulation

Accepted Answer

Cross-tabulation is one of the most frequently used approaches for analyzing and interpreting marketing research data. It shows the relationship of answers to two different questions.

Question 3

Regarding an estimate from a survey, the range on either side of the survey result that is likely to contain the "true" value of the relevant population is called:
A) sample range.
B) accuracy range.
C) confidence interval.
D) validity interval.
E) population estimate.

Accepted Answer

Confidence interval is the range on either side of an estimate that is likely to contain the true value for the whole population. Some managers are surprised to learn how wide that range can be.

Question 4

If random selection is used to develop a sample, researchers can use statistical methods to help determine the likely accuracy of the sample value; this is done in terms of _____.
A) empirical clusters
B) prediction intervals
C) regression coefficients
D) confidence intervals

Accepted Answer

If random selection is used to develop a sample, researchers can use statistical methods to help determine the likely accuracy of the sample value. This is done in terms of confidence intervals-the range on either side of an estimate that is likely to contain the true value for the whole population.

Question 5

The response rate to a survey affects
A) who is in the population for a marketing research study.
B) whether a statistical package can be used to analyze the data.
C) how representative the sample is.
D) All of these alternatives are good answers.

Accepted Answer

How well a sample represents the total population affects the results. Results from a sample that is not representative may not give a true picture.

Question 6

In which of the following cases does research have little value, suggesting poor planning by a manager?
A) The research does not ultimately have implications that allow a manager to take action.
B) The research is qualitative in nature.
C) The research has tidbits of information rather than knowledge of the whole situation.
D) The research does not anticipate the next research step.

Accepted Answer

If research doesn't have action implications, it has little value and suggests poor planning by the researcher and the manager. When the research process is finished, the marketing manager should be able to apply the findings in marketing strategy planning-the choice of a target market or the mix of the four Ps. If the research doesn't provide information to help guide these decisions, the company has wasted research time and money.

Question 7

By computing confidence intervals a researcher can:
A) have just as much confidence in an estimate from a small sample.
B) offset some of the problems of having a nonrepresentative sample.
C) estimate how precise her research results are likely to be.
D) None of these alternatives is a good answer.

Accepted Answer

Researchers can employ confidence intervals to help determine the likely accuracy of the sample value.

Question 8

In the context of interpreting data, identify the most accurate statement.
A) The confidence interval refers to the range located on the left side of an estimate.
B) The confidence interval is likely to contain the true value for the whole population.
C) The confidence interval is always very narrow.
D) The smaller the sample, the greater the accuracy of estimates from a random sample.
E) With a larger sample, a few unusual responses are more likely to make a big difference.

Accepted Answer

If random selection is used to develop a sample, researchers can use statistical methods to help determine the likely accuracy of the sample value. This is done in terms of confidence intervals-the range on either side of an estimate that is likely to contain the true value for the whole population. Some managers are surprised to learn how wide that range can be.

Question 9

Which of the following is a useful practice when making a marketing decision?
A) Managers should never apply their own judgment when interpreting analytical findings.
B) Managers should avoid seeking input from a wide range of people.
C) Managers should selectively share only those results that support their own viewpoints.
D) Managers should actively listen to opinions that differ from their own.

Accepted Answer

The most effective managers are comfortable with data and analytics, while also applying their own judgment when interpreting analytical findings. These managers actively seek input from a range of people and listen to opinions that differ from their own. With the growth of big data, there will be greater pressure to rely on data for decision-making.

Question 10

Regarding international marketing research:
A) If a firm is well-established internationally, there is nothing to be gained from working with local market research firms in the countries of interest.
B) It is impossible to coordinate similar marketing research efforts under way in several countries due to language and cultural differences.
C) Accurate data (both primary and secondary data) may be hard to find in international markets.
D) It is impossible to standardize the elements of an international marketing information system.
E) None of these alternatives is true.

Accepted Answer

In many countries, it is difficult for a foreigner to gather accurate information for marketing research, because of rapid economic growth and poor explanation methods for data collection.

Question 11

Which of the following statements is True regarding the last step in the marketing research process-solving the problem?
A) In this step, managers use the research results to make decisions.
B) Research needs to have action implications to have value.
C) Managers should be able to apply the research findings to marketing strategy planning.
D) Research that does not provide information that is useful for decision-making is a waste of time and money.
E) All of these statements are True.

Accepted Answer

Managers use the research results for decision-making. They should apply the findings in marketing strategy planning. If research doesn't have action implications, it has less value and if it doesn't provide information for decision-making, it is a waste of time and money.

Question 12

Statistical packages are:
A) easy-to-use computer programs that analyze data.
B) syndicated research services that do quantitative research.
C) procedures used to be sure that a sample is representative.
D) product packages that make it possible to collect data at checkout counters.
E) None of these alternatives is a good answer.

Accepted Answer

Statistical packages are easy-to-use computer programs that analyze data and facilitate data interpretation.

Question 13

The part of the relevant population that is surveyed by a researcher is called the:
A) representative group.
B) focal group.
C) target population.
D) sample.
E) research group.

Accepted Answer

The term 'sample' refers to a part of the relevant population that is surveyed by a researcher. How well a sample represents the total population affects the results.

Question 14

About what percentage of marketing research spending is for syndicated research data?
A) 20 percent
B) 30 percent
C) 40 percent
D) 50 percent
E) 60 percent

Accepted Answer

About 40 percent of marketing research spending is for syndicated research. This is economical when different firms need the same type of data.

Question 15

In the context of marketing research, the most common ethical issues concern:
A) distrusting data and analytics due to differences in judgment.
B) blowing minor findings out of proportion.
C) making decisions to withhold certain information about the research.
D) sharing the results of marketing research with everyone.

Accepted Answer

Perhaps the most common ethical issues concern decisions to withhold certain information about the research. For example, a manager might selectively share only those results that support his or her viewpoint. Others involved in a decision might never know that they are getting only partial truths.

Question 16

The total group a survey researcher is interested in is called the:
A) population.
B) sample.
C) study group.
D) representative group.
E) None of these choices is a good answer.

Accepted Answer

The term 'population' refers to the total group the researcher is evaluating.

Question 17

Which of the following is an ethical problem in marketing research?
A) A researcher does not disclose problems that occurred during consumer interviews.
B) A company calls consumers under the guise of doing research when the phone calls are really sales pitches for the company's products.
C) A manager informs a researcher that the only acceptable results are ones that confirm the manager's existing viewpoints.
D) A researcher deliberately withholds details about how a research study was conducted.
E) All of these statements illustrate ethical problems in marketing research.

Accepted Answer

Ethical problems can include: not disclosing problems in the interview process; misrepresentation of research goals; selective sharing of research results; withholding details of how research was conducted; and many others.

Question 18

_________ concerns the extent to which data measures what it is intended to measure.
A) Conformance
B) Reliability
C) Depth
D) Validity
E) Penetration

Accepted Answer

Validity concerns the extent to which data measure what they are intended to measure. Validity problems are important in marketing research.

Question 19

Since marketers can't collect information from everyone, they collect information from a small number of people taken from the larger group they are analyzing-a sample. This technique is effective when:
A) the sample group is representative of the larger population.
B) the sample group is different from the larger population.
C) the sample group provides identical responses.
D) the sample group is questioned using online surveys.
E) the sample group is questioned using personal interviews.

Accepted Answer

Marketing researchers typically study only a sample, a part of the relevant population. How well a sample represents the total population affects the results. Results from a sample that is not representative may not give a true picture.

Question 20

______________ is concerned with whether the research data measures what it is intended to.
A) Cross-tabulation
B) Validity
C) Regularity
D) Dependability
E) Confidence

Accepted Answer

Validity concerns the extent to which data measure what they are intended to measure. Validity problems are important in marketing research.

Quiz 7: Improving Decisions With Marketing Information

Which of the following statements about the cost and value of information is False?

This frequently used approach for analyzing and interpreting marketing research data shows the relationship of answers to two different questions.

Regarding an estimate from a survey, the range on either side of the survey result that is likely to contain the "true" value of the relevant population is called:

If random selection is used to develop a sample, researchers can use statistical methods to help determine the likely accuracy of the sample value; this is done in terms of _____.

The response rate to a survey affects

In which of the following cases does research have little value, suggesting poor planning by a manager?

By computing confidence intervals a researcher can:

In the context of interpreting data, identify the most accurate statement.

Which of the following is a useful practice when making a marketing decision?

Regarding international marketing research:

Which of the following statements is True regarding the last step in the marketing research process-solving the problem?

Statistical packages are:

The part of the relevant population that is surveyed by a researcher is called the:

About what percentage of marketing research spending is for syndicated research data?

In the context of marketing research, the most common ethical issues concern:

The total group a survey researcher is interested in is called the:

Which of the following is an ethical problem in marketing research?

_________ concerns the extent to which data measures what it is intended to measure.

Since marketers can't collect information from everyone, they collect information from a small number of people taken from the larger group they are analyzing-a sample. This technique is effective when:

______________ is concerned with whether the research data measures what it is intended to.