Deck 3: The Marketing Research Process

Question 1

Researchers have the option to undertake the marketing research process sequentially or non-sequentially

Answer 1

False

Question 2

The specification of research tactics is the most important part of the research process.

Answer 2

False

Question 3

In marketing research, the obvious problem is the one which should first be addressed.This may save the cost of exploratory research and will sooner or later reveal the underlying problem.

Answer 3

False

Question 4

There are three elements in the research objective: the research questions which specify the information needed; hypotheses which are alternative answers to the research questions; and an outline of the research design.

Question 5

Research that will not affect management decisions has no practical value.

Question 6

In general, more specification is added to the research question when a hypothesis the anticipated answer to the research question) is stated.

Question 7

Planning is supported by the information system, which 1) anticipates the type of information required by decision makers and 2) organizes data that have been collected to ensure their availability when needed.

Question 8

Researchers should know the objectives and expectations of the managers making decisions, since that will result in a higher probability of research acceptance.

Question 9

The research process consists of connected stages or steps that guide a project from its conception to the final analysis, recommendations, and ultimate action.

Question 10

A hypothesis is a possible answer to a research question

Question 11

More than one hypothesis will tend to make the research question more general.For that reason, researchers should usually limit themselves to developing only one hypothesis.

Question 12

A hypothesis should always be stated, even if it is a simple restatement of the research question, since the creation of a hypothesis is part of the formal marketing plan.

Question 13

The role of the research objective is to provide guidance to the research design.The more specific the research question, the less valuable is the guidance.

Question 14

The development of a research purpose and the formulation of research objectives that serve to guide the research unfortunately are the least important steps in the research process.

Question 15

The research objective is a statement of the information that is needed.This objective should be consistent with the decision described in the research purpose.

Question 16

The single most important element of good research is the development of a research purpose that links the research to decision making.

Question 17

Even if the results of a project fail to answer the research question, the information still helps the decision maker.

Question 18

Probably the most important source of a hypothesis is a combination of a manager's past experience with similar problems and the use of judgment.

Question 19

IMR is more complicated because of the necessity to ensure construct, measurement, sampling, and analysis equivalence before any cross‐cultural study is conducted.

Question 20

The sole involvement of the Marketing Planning and Information System in the marketing research process consists of pointing out the need for research.

Question 21

A concept test is employed to determine if a concept should be developed further

Question 22

Hypothesis development and research boundaries help the researcher make the research question more specific Veekay Co.recently developed a new line of computers.Prior to the introduction the management felt that the product had 40% chance of being extremely successful, 20% chance of being successful, and 40% chance of failing.If extremely successful the product would generate $15 million in profits over the planning period, if successful $10 million, and if it failed the result would be loss of $5 million.If Veekay does not introduce this new line, they will stay with the current product and realize a profit of $5 million based on the company's projections. Based on the above information, answer the following questions:

Question 23

The objective of foreign market opportunity analysis is to gather information on questions to help the management narrow down the possibilities for international marketing activities.

Question 24

The value of perfect information is always positive.

Question 25

Self-Reference Criterion assumes that the environmental variables that are prevalent in the researcher's home market are also applicable to the foreign country.

Question 26

Which of the following is the most essential characteristic of good decision making information?

A) accuracy
B) currency
C) sufficiency
D) relevancy

Question 27

In an effort to avoid redundant research, it is important to indicate the scope of the research.The more important the purpose of the research, the broader the scope should be.

Question 28

There is no difference in the level of complication between an international and domestic marketing research.

Question 29

If a decision will not be affected by the research results, the value of perfect information is zero.

Question 30

The value of perfect information is calculated to provide the manager with an estimate of how much he should spend on research.

Question 31

What is the expected value to Veekay of introducing the new line of personal computers?

A) $8.4 million
B) $6.0 million
C) $9.8 million
D) $5.0 million
E) $9.4 million

Question 32

If Veekay bases their decision only on expected values, should they introduce the new line of personal computers?

A) yes
B) no
C) they would be indifferent
D) not enough information is given
E) they should provide free sample instead of doing any market research

Question 33

The major reason for failure of businesses in foreign environment's has been the Self-Reference Criterion adopted by researchers in defining the problem in a foreign country.

Question 34

A specific research purpose can have only a specific research question.

Question 35

The research director was asked what the total cost of the research would be He stated that after including all the expenses of the test market, salaries, wages, outside consulting fees etc.the total cost would be $4.4 million.Should the company do the research study proposed by the director?

A) yes
B) no
C) does not make any difference, expected profits are the same either way
D) not enough information to complete the decision tree and all calculations
E) not enough time to do a decision tree

Question 36

The Bayesian approach to decision making

A) assigns probabilities to each state of nature based on relative frequency probabilities
B) uses personal probabilities reflecting the decision maker's confidence in the truth of a specific proposition
C) is based on the principle of insufficient reason
D) assumes complete ignorance about the true state of nature

Question 37

What is the expected value under certainty?

A) $8.4 million
B) $7.0 million
C) $9.8 million
D) $5.0 million
E) $10.0 million

Question 38

Identifying loyal customers and doing targeted marketing are essential components in opportunity analysis

Question 39

The value of perfect information is calculated as the sum of the probability of obtaining the k-th research result times the value of the k-th research result, where the k are the different research results.

Question 40

Foreign market opportunity analysis is a frequent reason to conduct international marketing research

Question 41

Gathering information on questions that would help the management to narrow down the possibilities for their marketing activities in an international context is called

A)an exploratory survey.
B)foreign market opportunity analysis.
C)programmatic research.
D)formalized research.
E)international research.

Question 42

Which of the following could be the covert purpose for a research study?

A)Postponement of an awkward decision, such as recalling an old product.
B)A desire to give the researcher responsibility for a difficult decision.
C)A manager's need for public relations for his programs.
D)A manager's desire to confirm the wisdom of a decision which has already been made.
E)All of these

Question 43

Research studies evolve through a number of steps which are linked

A)sequentially
B)randomly.
C)geographically.
D)they are not linked
E)symmetrically

Question 44

Which of the following is not true of a hypothesis? They

A) may be accepted or rejected
B) are merely a restatement of a research question
C) may be unproven
D) are all of the above

Question 45

The expected value of perfect information EVPI) is

A) $400,000
B) $120,000
C) $60,000
D) $0
E) -$60,000

Question 46

Assuming that the environmental variables prevalent in the researcher's domestic market is also applicable to the foreign country is called

A)Self-Reference Criterion.
B)ethnocentricity.
C)geocentricity.
D)home country affiliation.
E)none of the above.

Question 47

In estimating the value of research information, which of the following should not be calculated?

A)The expected value of the decision
B)The probability of obtaining each outcome
C)How the research would affect the expected value of the decision
D)The amount to be gained or lost corresponding with each outcome
E)The value of additional information

Question 48

Which of the following is not a part of the research process?

A)Formulation of the problem
B)Calculating the expected value of the project
C)Analyzing the data
D)Discussing the background of the research with decision makers
E)All of these are part of the research process.

Question 49

The expected value under certainty is

A) $520,000
B) $460,000
C) $400,000
D) $120,000
E) $60,000

Question 50

The most important activity stage in the marketing research process is

A) marketing problem or opportunity identification
B) marketing research project design
C) data collection
D) preparing and presentation of the research report

Question 51

Research problems in cross-cultural contexts are due to:

A)differences in socioeconomic conditions,
B)levels of economic development,
C)differences in any of the macroenvironmental factors
D)all of the above
E)none of the above

Question 52

The research question

A)refers to the question of whether or not to proceed at each evaluation point in the research project.
B)should not be specified in research involving internal problem-solving.
C)should be prepared in general terms.
D)asks what specific information is needed to achieve the research purpose.
E)should be consistent with the research purpose, with only one question stated for each purpose.

Question 53

Which of the following is not true about the research process?

A)It is a systematic, planned approach.
B)It ensures that the stages of the research project will be independent of each other.
C)It guides the project from conception to the final analysis and presentation of results.
D)It creates a consistency between the research design and the research purpose.
E)All of these are true.

Question 54

Which of the following statements regarding the relationship between research users and researchers is false?

A)When an internal problem is being studied, the researcher should not know the identities of the research users.
B)The more a researcher knows about the objectives of the research users, the more valuable the researcher is likely to be.
C)The larger the problem, the more difficult it tends to be for a researcher to maintain contact with the research users.
D)They should have a shared understanding of decision alternatives, the importance of the decision, and the problems or opportunities
That are anticipated.
E)All of these are true.

Question 55

The research design does not involve

A)determining the sampling plan.
B)decisions on the sampling frame.
C)collection of the data to be used.
D)creating the questionnaire.
E)selection of the research approach.

Question 56

The following is not a part of the Research Objectives

A)research question.
B)analysis of results.
C)development of hypotheses.
D)scope.
E)all of the above

Question 57

Which of the following should be understood before developing the research purpose?

A)The decision alternatives and means of choosing among them
B)The timing and importance of the decision to be made
C)Anticipated problems or opportunities
D)The expectations and objectives of the research users
E)All of these

Question 58

Which of the following is not true about hypotheses?

A)A hypothesis is a possible answer to a research question.
B)A hypothesis usually adds specificity to a research question.
C)Only one hypothesis is concerned with each specific research purpose.
D)The alternative hypothesis is often obvious and need not be stated.
E)Not all situations require the development of hypotheses.

Question 59

The expected value under uncertainty is

A) $520,000
B) $460,000
C) $400,000
D) $120,000
E) $60,000

Question 60

Sources of information to develop hypotheses include

A)previous research.
B)exploratory research specifically designed to come up with a hypothesis.
C)different academic fields, such as psychology, sociology, and marketing.
D)a manager's past experience.
E)all of these.