Deck 20: Managing Marketing Research

Question 1

The best project manager does all of the following except:

A)Lets the client define all the research objectives and design on his/her own
B)Executes the project flawlessly
C)Monitors the project closely
D)Delivers beyond expectations
E)Provides insights about the findings

Answer 1

A

Question 2

Research management involves overseeing the development of:

A)communication systems.
B)schedules
C)client profitability
D)all of these
E)none of these

Answer 2

D

Question 3

Which of the following takes into account the value,increased confidence,and the cost of research?

A)ROI
B)ROI Lite
C)ROI Complete
D)None of these

Answer 3

B

Question 4

Which of the following is not an outsourcing issue?

A)confidentiality
B)domain knowledge
C)employee liability
D)cultural issues
E)all of these are outsourcing issues

Question 5

Good procedures for cost control include all of the following except:

A)Systems that accurately capture data collection and other costs associated with the project on a daily basis.
B)Policies and practices that quickly identify overbudget situations and then find causes and seek solutions.
C)Daily reporting of costs to the communication liaison.
D)Policies and practices that find and account for underbudget situations.
E)Policies and practices in the research organization that require the liaison
To communicate the budget picture to clients and to senior managers at the
Research company.

Question 6

The key to good supplier-client relations is ____________.

A)hard work
B)communication
C)a fair price
D)positive results
E)keeping the project on schedule

Question 7

Which of the following is not one of the goals of research management?

A)stay on schedule
B)manage client profitability
C)develop staff
D)meet potential new clients
E)build an effective organization

Question 8

The key to staying on the acceptable vendor lists is in the contribution a supplier makes to the company.This means understanding _______________.

A)The client's industry
B)The tracking of industry trends
C)Customization of offerings to meet client's unique needs
D)All of these

Question 9

To increase a client's ROI,a marketing research firm can:

A)invest more in research
B)invest less in research
C)reduce the anticipated dollar value of the decision based on the research
D)invest more in advertising
E)enter a riskier new market

Question 10

What is the general rule for selecting a marketing research supplier?

A)Choose the least expensive supplier and, if the project's needs exceed their abilities, move to the next supplier.
B)Choose the smallest firm consistent with the scope of the project, as long as the project is not more than 30% of the supplier's annual revenues.
C)Choose the vendor that has the best reputation.
D)Choose the smallest firm consistent with the scope of the project, as long
As the project is not more than 15% of the supplier's annual revenues.
E)There is no general rule.

Question 11

Which of the following will not help the researcher communicate for impact?

A)Leverage visual storytelling, incorporating video where possible
B)Know the audience and their ingoing beliefs
C)Telling the audience wants to know what they should do
D)Telling the audience what they did in the study
E)All of these

Question 12

Cost-plus projects are typically found in situations where:

A)the researchers are required to travel.
B)a research firm is recognized as providing high-quality output.
C)a client requires frequent progress reports.
D)a research department of a large corporation conducts a project for another departmen
E)a research firm's fees fall within the 90ᵗʰ percentile.

Question 13

Which of the following can disrupt time management if not predicted accurately?

A)incidence rate
B)interview length
C)amount of management intervention
D)incidence rate and interview length
E)all of these

Question 14

Which of the following are benefits of quantifying the economic value of research?

A)Increased credibility with senior management and other functional areas
B)Increase focus on the factors in the processes that drive the most economic value
C)More ammunition in defending the research budget
D)Better prioritization and allocation of research resources
E)All of these

Question 15

___________ is the successful implementation of creative ideas within an organization.

A)Creativity
B)Innovation
C)Improvements
D)Entrepreneurship
E)None of these

Question 16

Ways of retaining skills staff include:

A)conducting regular performance reviews
B)giving pay raises in spite of below average performance
C)giving staff a variety of work tasks
D)conduction regular performance reviews and giving pay raises in spite of
Below average performances only
E)conducting regular performance reviews and giving staff a variety of work tasks only

Question 17

Captive outsourcing is:

A)when a research firm outsources to a firm in a small, developing country.
B)when a research firm creates a wholly-owned foreign facility for
Outsourcing.
C)outsourcing to prisoners held against their will.
D)outsourcing to a third-party provider.
E)the most cost efficient way to hire a market researcher staff.

Question 18

Which of the following is not a suggestion given for staff development in a research firm?

A)Foster recognition and accountability.
B)Connect rewards to a business result.
C)Create an environment that encourages perfection.
D)Attract and support people with entrepreneurial attitudes.
E)Provide job autonomy within a certain structure.

Question 19

Which of the following was perceived as the most important interpersonal factor between marketing research suppliers and users?

A)perceived integrity of the researcher
B)perceived ability of the researcher
C)amount of client interaction
D)ability of the researcher to interpret the data in a user-friendly manner

Question 20

Which of the following is not a key factor in the effective use of marketing research information?

A)perceived credibility of the report by users
B)perceived usefulness of the report by users
C)degree of client/researcher interaction
D)perceived credibility of the user of the report
E)All of these are key factors in the effective use of marketing research information.

Question 21

A 66 percent majority of adults believe,wrongly,that the phrase "margin of error" includes calculation of errors caused by how the questions are worded.

Question 22

To get the attention of senior management,researchers must move beyond crunching numbers to analyzing the information and providing results.

Question 23

____________ must be integrated with business economics and organizational strengths and weaknesses.

A)Insights
B)Innovations
C)Performance reviews
D)SWOT analysis
E)None of these

Question 24

If the client finds even small mistakes in the communication of the findings,the credibility of the researcher and all of the research findings may be brought into serious question.

Question 25

Marketing research suppliers must take client profitability into account.

Question 26

Providing the firm's full financial information to even senior level employees is rarely,if ever,advisable.

Question 27

Many department heads say that they believe it's important for the research group to have a discretionary budget for important projects.

Question 28

If a marketing research firm plans to subcontract any part of a project,it's better not to give this information to the client.

Question 29

By reducing the organizational distance between the client and staff members,it is easier for them to appreciate the client's situation and focus on serving his or her needs.

Question 30

Creating an environment that discourages risk taking is a suggestion for staff development.

Question 31

Incidence rate problems increase the amount of time required to complete the sample of a project,but can also lower the cost of data-collection.

Question 32

Asking a client for their budget on a project helps the research firm to learn what the client has in mind.

Question 33

Staff management and development is part of research management.

Question 34

Low involvement by a client with a marketing research supplier may result in the results of a marketing report not being used.

Question 35

Time management is important in marketing research because clients often have a specified time schedule that they must meet.

Question 36

Asking a vendor for the academic background and experience of the persons slated to work on the project is considered unprofessional.

Question 37

The two most important things a client wants in a vendor are confidentiality and honesty.

Question 38

The least important objective of research management is to ensure the quality or integrity of the data produced by the research process.

Question 39

Top management's support and approval of marketing research has little to do with how effectively the results of the report are utilized by middle marketing managers.

Question 40

A major problem with the effective use of marketing research information is that different marketing managers use and value research information differently.

Question 41

Should a survey presentation say,"the margin of error is plus or minus 3 percent"? If not,what problem does it present?

Question 42

Imagine you are responsible for your research department budget.What steps would you take to make sure the funds are allocated wisely?

Question 43

What steps and actions should a research supplier take to try to become a strategic partner with a research client?

Question 44

In the context of moving marketing research more into a decision making role,rather than purely a staff/support function,define the following 3 terms:
a)Insight
b)Innovation
c)Creativity

Question 45

Describe CRI's Client Profitability Analysis and how it is used in their business.

Question 46

What is a recent trend with regard to outsourcing versus insourcing marketing research services?