Question 1

What type of research firm dominates the small research firms operated by a single person or a small staff?&#10;A) Proprietary&#10;B) Syndicated&#10;C) Full-service&#10;D) Specialty&#10;E) Internal

Accepted Answer

Specialty research firms often dominate the small research firm sector, as they focus on specific areas or industries, allowing them to offer expert insights despite their smaller size.

Question 2

Most firms in the business research industry are _____.&#10;A) syndicated data providers&#10;B) small firms and one-person shops&#10;C) large full-service suppliers&#10;D) wholesale distributors&#10;E) advertising agencies

Accepted Answer

Most firms in the business research industry are indeed small firms and one-person shops, reflecting the industry's accessibility to individuals and small teams with specialized expertise.

Question 3

Specialty firms can establish expertise in all of the following areas except _____.&#10;A) methodology&#10;B) process&#10;C) industry&#10;D) incentives&#10;E) geographic region

Accepted Answer

Specialty firms can establish expertise in methodology, process, industry, and geographic region, but not incentives, which are more related to motivation and rewards.

Question 4

Which term below refers to a research program or technique that is owned by a single firm?&#10;A) Proprietary&#10;B) Omnibus&#10;C) Full-service&#10;D) Limited service&#10;E) Internal

Accepted Answer

Proprietary refers to something that is owned exclusively by a particular individual or company. In the context of market research, a proprietary research program or technique is one that is developed and owned by a single firm for their own use.

Question 5

Specialty research suppliers who provide the screening and recruiting of probability samples for a wide range of survey studies are called _____.&#10;A) sampling specialists&#10;B) field business specialists&#10;C) headhunters&#10;D) screeners&#10;E) syndicators

Accepted Answer

Specialty research suppliers who provide the screening and recruiting of probability samples for a wide range of survey studies are called sampling specialists. Field business specialists are professionals who conduct market research as a part of their job responsibilities. Headhunters are recruiters who specialize in finding candidates with specific skills for job openings. Screeners are people who check or examine something in detail, and syndicators are individuals or companies that distribute content or information to multiple outlets. Out of all these options, only "sampling specialists" fit the description given in the question.

Question 6

A _____ study combines one or a few questions from several business decision makers who need information from the same population.&#10;A) syndicated&#10;B) proprietary research&#10;C) omnibus&#10;D) sampling&#10;E) full-service

Accepted Answer

An omnibus study combines one or a few questions from several business decision makers who need information from the same population. Syndicated research involves a research company collecting data on a specific topic or industry and selling the findings to multiple clients. Proprietary research is conducted by a company for its own internal use. Sampling is a method used to select a subset of individuals from a larger population to participate in a study. Full-service research involves a company conducting a research project from start to finish for a client.

Question 7

When a business research firm provides both quantitative and qualitative methodology expertise and conducts all phases of research from planning to execution and reporting,the firm is considered a(n)_____ firm.

A) internal
B) interactive
C) proprietary
D) omnibus
E) full-service

Accepted Answer

The term "full-service" denotes a business research firm that provides expertise in both quantitative and qualitative methodology, and handles all aspects of research, from planning to reporting. Therefore, option E is the correct answer. Option A, internal, refers to a department within a company that conducts research. Option B, interactive, refers to a type of research that involves direct interaction between researchers and participants. Option C, proprietary, refers to research conducted for the benefit of one specific organization, often kept confidential. Option D, omnibus, refers to a type of survey that includes questions from multiple clients.

Question 8

All of the following terms except _____ can be used to describe custom full-service business research firms?&#10;A) ad hoc research&#10;B) custom-designed research&#10;C) custom researchers&#10;D) syndicated panel&#10;E) all of the above can be used to describe custom full-service business research firms

Accepted Answer

Syndicated panel refers to a different type of research firm that offers pre-packaged research studies to multiple clients. Ad hoc research, custom-designed research, and custom researchers all refer to the type of custom full-service business research firms that work with individual clients to design and execute research projects tailored to their specific needs.

Question 9

Which of the following is an advantage of using an omnibus study?&#10;A) Ability to reach a convenience sample of consumers&#10;B) Cost of less than $2000 per question&#10;C) Ability to receive full-service research services&#10;D) Ability to receive results in 24-48 hours&#10;E) All of the above

Accepted Answer

The answer of Which of the following is an advantage...

Deck 21: Appendix 1A: How the Industry Works