Deck 4: Market Research Metrics and Analytics

Question 1

Metrics measure performance using numeric information.

Answer 1

True

Question 2

The ultimate purpose of market research is to help make better business decision.

Answer 2

True

Question 3

Market research can help in the relative success of current and competitive marketing practices and troubleshoot problems.

Answer 3

True

Question 4

Sampling is the process of gathering data from a subset of the total population, rather than from all members of that particular group.

Question 5

Research designed to identify cause-and-effect relationships among variables is termed descriptive research.

Question 6

Exploratory research is often conducted with the expectation that subsequent and more conclusive research will follow.

Question 7

Focus group research, in-depth interviews, online communities, online bulletin boards, and social listening are forms of research called qualitative research.

Question 8

Causal research studies examine elements such as the effect of advertising on sales and the relationship between price and perceived product quality.

Question 9

The 4 v's of big data are: volume, viscosity, variety and veracity.

Question 10

The second step in the market research process is to define the problem, issue, or opportunity.

Question 11

Objectives are specific, measurable goals that the decision maker seeks to achieve.

Question 12

Qualitative research is statistically reliable information that uses observational techniques and/or questioning methods such as surveys or experiments to deliver statistically significant results.

Question 13

Exploratory secondary data is data that researchers have to create through options such as focus groups, in-depth interviews, and online communities.

Question 14

An in-depth interview is an informal interview session in which six to ten people are brought together in a room with a moderator to discuss topics surrounding the market research problem.

Question 15

Analytics can help marketers with market segmentation and market planning.

Question 16

Big data refers to data used exclusively by large companies.

Question 17

Secondary data is lower in cost and easier to obtain than primary data.

Question 18

Probability sampling involves the use of arbitrary judgment by the market researcher to select a sample so that the chance of selecting a particular element of the population is either unknown or zero.

Question 19

Structured data includes numeric data and word-processed information.

Question 20

All companies use the same set of metrics to track business success.

Question 21

Observational research is obtained by watching how people behave, either in person or by using a machine to record events.

Question 22

An experiment is an in-market localized regional approach, or short-term online destination, used to test the success of promotional offers, new services, or new-product launches.

Question 23

Which of these is NOT one of the 4 Vs of Big Data?

A)Volume
B)Velocity
C)Variety
D)Viscosity

Question 24

A marketing experiment involves changing a variable involved in a purchase to find out what happens.

Question 25

Types of Market Research include exploratory, descriptive and

A)Selective
B)Objective
C)Omnibus
D)Causal

Question 26

Exploratory, descriptive, and causal research are forms of _____.

A)competitive models
B)SWOT analysis techniques
C)market research
D)information analysis

Question 27

Many companies consider market share as a critical measure of their relative success in an industry.This is an example of a(n)

A)Metric
B)Profit goal
C)Dashboard
D)Big data platform

Question 28

_____ is formally defined as the process of planning, collecting, and analyzing information in order to recommend actions to improve marketing activities.

A)Marketing information system
B)Market research
C)Market watch
D)Market exploration

Question 29

Syndicated surveys are performed by research companies who effectively spread the cost of research across several clients.

Question 30

Once data collection is complete, marketers are ready to make decisions.

Question 31

Preliminary research that clarifies the scope and nature of a marketing problem is referred to as _____.

A)descriptive research
B)causal market research
C)exploratory research
D)conclusive research

Question 32

Which of the following is true of exploratory research?

A)It examines elements such as the effect of advertising on sales and the relationship between price and perceived product quality.
B)It is designed to identify cause-and-effect relationships among variables.
C)It provides researchers with conclusive data that answers particular questions, instead of giving them a general understanding of the marketing problem.
D)It provides researchers with a better understanding of the dimensions of the marketing problem before focusing on areas that require further research.

Question 33

Experiments can be conducted only in contrived environments.

Question 34

At its core, market research is used to

A)Defend preferred decisions or choices
B)Reduce the risk in making decisions
C)Predict the future with certainty
D)Defend market share against new competitors

Question 35

To be effective, research reports must be structured to help marketers make specified decisions.

Question 36

The online research community uses vocal consumers, often in high-involvement categories such as sports and entertainment.

Question 37

The challenge for marketers with big data is

A)Which pieces of data are relevant and what patterns emerge as useful
B)To ensure that each of the 4 Vs is adequately reflected in the data
C)Finding adequate sources of data
D)Converting structured data into unstructured forms to allow for analysis

Question 38

Magazines, radio stations, and television stations almost always conduct _____ research to identify the characteristics of their audiences in order to present it to prospective advertisers.

A)exploratory
B)causal
C)ethnographic
D)descriptive

Question 39

The goal of analytics is to

A)Utilize the 4Vs in a cost effective way
B)Describe numerical data in non-numeric terms
C)Forecast economic conditions
D)Use metric data to help make better decisions

Question 40

A television manufacturer decides to conduct a research that will provide information about the basic characteristics of its target audience.Which of the following types of market research is the company using?

A)exploratory research
B)descriptive research
C)micro research
D)causal research

Question 41

Research designed to identify cause-and-effect relationships among variables is termed _____.

A)descriptive research
B)preliminary research
C)ethnographic research
D)causal research

Question 42

Dairy Farmers of Canada discovered that milk consumption in the country was declining.They conducted research to understand the reasons for the declining consumption of milk.They discovered that the decline was due to the perception that milk was fattening and high in cholesterol.The association determined the demographic characteristics of milk consumers, their attitudes toward milk, and their usage patterns.The association carried out a television advertising campaign that portrayed that milk was an essential element in a healthy diet.Later, they discovered that the campaign helped change customer attitudes toward milk consumption, hence increasing sales. Which of the following types of research was the Dairy Farmers of Canada using to determine the demographic characteristics of milk consumers, their attitudes toward milk, and their usage patterns?

A)relational research
B)descriptive research
C)preliminary research
D)exploratory research

Question 43

Research designed to describe the basic characteristics of a given population or to clarify its usage and attitudes is known as _____ research.

A)exploratory
B)causal
C)relational
D)descriptive

Question 44

At which of the following stages will a researcher be clarifying research objectives?

A)generating report and recommendations
B)conducting exploratory and qualitative research
C)compiling, analyzing, and interpreting data
D)defining the problem/issue/opportunity

Question 45

Which of the following is true of sampling?

A)It is the process of gathering data from a subset of the total population, rather than from all members of that particular group.
B)It is a hybrid of primary and secondary research conducted by a research company, spreading the cost across many clients to reduce the price.
C)It refers to the process of identifying what information is needed and how it will be collected.
D)It refers to watching how people behave, either in person or by using a machine to record events.

Question 46

Which of the following is true of probability sampling?

A)It includes a large sample of respondents that voluntarily completes questionnaires on a regular basis so that researchers can assess changes in behaviour and attitudes.
B)It is a hybrid of primary and secondary research conducted by a research company, spreading the cost across many clients to reduce the price.
C)It involves precise rules to select the sample so that each element of the population has a specific known chance of being selected.
D)It involves the use of arbitrary judgment by the market researcher to select a sample so that the chance of selecting a particular element of the population is either unknown or zero.

Question 47

Neil has been given specific instructions that in his research sample, each element of the population should have a specific known chance of being selected.This technique is referred to as _____.

A)non-probability sampling
B)population surveying
C)probability sampling
D)survey designing

Question 48

Ryan needs to collect data for a marketing project.He realizes that collecting data from the entire population of his city will be extremely time-consuming and costly.Thus, he is gathering his survey data from a subset of the total population.This process is referred to as _____.

A)an ethnographic study
B)a population survey
C)designing
D)sampling

Question 49

Mandy & Co.have spent $10,000 on its advertising campaigns.The company wants to analyze how the advertising campaign has affected sales.Which of the following types of research can researchers at Mandy & Co.conduct to assess the influence of advertising on sales?

A)preliminary research
B)causal research
C)exploratory research
D)descriptive research

Question 50

Dairy Farmers of Canada discovered that milk consumption in the country was declining.They conducted research to understand the reasons for the declining consumption of milk.They discovered that the decline was due to the perception that milk was fattening and high in cholesterol.The association determined the demographic characteristics of milk consumers, their attitudes toward milk, and their usage patterns.The association carried out a television advertising campaign that portrayed that milk was an essential element in a healthy diet.Later, they discovered that the campaign helped change customer attitudes toward milk consumption, hence increasing sales. Which of the following types of research would have helped the Dairy Farmers of Canada assess the effect of the television advertising campaign on milk consumption?

A)exploratory research
B)preliminary research
C)causal research
D)ethnographic research

Question 51

Susan has not been given any specific instructions regarding how to select the sample for her questionnaire.She can't decide how to start her survey, and finally uses arbitrary judgment to select a sample so that the chance of selecting a particular element of the population is either unknown or zero.Which of the following types of market research techniques is Susan using in this scenario?

A)population surveying
B)secondary research
C)non-probability sampling
D)qualitative sampling

Question 52

Research objectives are the:

A)restrictions placed on potential solutions by the nature of the problem.
B)criteria or standards used in evaluating proposed solutions to the problem.
C)specific, measurable goals the decision maker seeks to achieve in solving a problem.
D)conjectures about factors or situations that simplify the problem enough to allow it to be solved within the existing constraints.

Question 53

Procter & Gamble assesses the effectiveness of its advertising campaigns.Which of the following types of research would be appropriate for this purpose?

A)exploratory research
B)archival research
C)causal research
D)preliminary research

Question 54

Which of the following is true of descriptive research?

A)The researcher seeks more conclusive data that answers particular questions.
B)It provides researchers with a better understanding of the dimensions of the marketing problem before focusing on areas that require further research.
C)It is conducted with the expectation that subsequent and more conclusive research will follow.
D)The research conducts it to understand the cause-and-effect relationships among variables.

Question 55

Dairy Farmers of Canada discovered that milk consumption in the country was declining.They conducted research to understand the reasons for the declining consumption of milk.They discovered that the decline was due to the perception that milk was fattening and high in cholesterol.The association determined the demographic characteristics of milk consumers, their attitudes toward milk, and their usage patterns.The association carried out a television advertising campaign that portrayed that milk was an essential element in a healthy diet.Later, they discovered that the campaign helped change customer attitudes toward milk consumption, hence increasing sales. Which of the following types of research would the Dairy Farmers of Canada have employed to understand the reasons for the declining consumption of milk?

A)comparative research
B)descriptive research
C)causal research
D)exploratory research

Question 56

Which of the following is true of non-probability sampling?

A)It is a set of procedures and processes for collecting, sorting, analyzing, and summarizing information on an ongoing basis.
B)It involves the use of arbitrary judgment by the market researcher to select a sample so that the chance of selecting a particular element of the population is either unknown or zero.
C)It is a hybrid of primary and secondary research conducted by a research company, spreading the cost across many clients to reduce the price.
D)It involves precise rules to select the sample so that each element of the population has a specific known chance of being selected.

Question 57

Which of the following is the first step in the six-step market research approach?

A)to identify which approach will be taken to complete the project
B)to clearly define the problem, issue, or opportunity, and to clarify the objectives
C)to use quantitative research through observational and/or questioning techniques
D)to clarify the scope and nature of a marketing problem

Question 58

Which of the following is true of information requirements and collection of data?

A)Market research studies should collect information that is interesting.
B)Collecting interesting information is less time-consuming and cost-effective than collecting mundane information.
C)Researchers can purchase data from a pre-existing study.
D)Determining how to collect the data is more important than actually collecting the data.

Question 59

A university decides to analyze how its last year's graduates are performing after their graduation.It decides to select 100 names randomly and contact them.All graduates have an equal chance of being contacted, and the chance of being contacted is known in advance.The 100 graduates contacted will represent all the graduates of last year.This is an example of _____.

A)a population survey
B)non-probability sampling
C)causal research
D)probability sampling

Question 60

A researcher is identifying which approach to take to complete a project.He identifies what information is needed, how it will be collected, and whether a sampling plan is needed.Which step of the marketing research approach is the researcher at?

A)defining the problem/issue
B)conducting exploratory research
C)collecting quantitative research information
D)designing a research plan

Question 61

Focus group research, in-depth interviews, online communities, online bulletin boards, and social listening are forms of research methods collectively referred to as _____ research.

A)qualitative
B)quantitative
C)internal
D)external

Question 62

Which of the following is an example of qualitative research?

A)Probability sampling
B)Costing information
C)Focus groups
D)Profitability data

Question 63

Which of the following is true of quantitative research?

A)The data is not extracted from a large consumer base.
B)Focus groups and in-depth interviews are examples of quantitative research.
C)It is statistically accurate and less open to interpretation.
D)Quantitative research is not a costly method to collect data.

Question 64

Simmons Publishers has decided to analyze the attitudes of readers toward its newspaper, The Good Day.The publishers want researchers to collect data that is original and specifically collected for their newspaper.The researchers organize an informal interview session in which six to ten people are brought together in a room with a moderator to discuss topics surrounding the newspaper.The researchers also discuss topics related to the newspaper with individuals in a free-flowing conversation. Simmons Publishers needs the opinions of a number of people about its newspaper, so researchers decide to hold an informal interview session in which eight people are brought together in a room to discuss topics related to the newspaper.Which of the following research techniques is Simmons Publishers using here?

A)focus group
B)causal research
C)descriptive research
D)in-depth interview

Question 65

Sarah is working on a project where she is not able to get much data from published reports or from academic journals.She realizes that she needs to create her own data specifically for this project.The type of data Sarah will create is referred to as _____ data.

A)archival
B)exploratory secondary
C)internal
D)primary

Question 66

Pam needs to collect data for a research project.She has been told that her project must have statistically reliable information that uses observational techniques and/or questioning methods such as surveys or experiments to deliver statistically significant results.Which of the following research techniques is Pam going to employ?

A)social listening technique
B)secondary research
C)in-depth interview technique
D)quantitative research

Question 67

Which of the following is true of online research communities?

A)It refers to private online forums where respondents can post their questions.
B)It monitors online consumer conversations on social media sites such as social networks, blogs, and forums.
C)It involves the use of consumer groups, brought together privately in an online environment, to answer questions, and collaborate with researchers in real time.
D)It is an informal interview session in which six to ten people are brought together in a room with a moderator to discuss topics surrounding the market research problem.

Question 68

Martha is collecting data on the latest consumer trends.She lives in Holden, Alberta, and is not able to meet her target population in person.She decides to talk to consumer groups, privately via Internet chat rooms, where they can answer questions, respond to ideas, and collaborate with her in real time.Which of the following techniques is Martha planning to use?

A)online bulletin boards
B)in-depth interviews
C)focus groups
D)online research communities

Question 69

Simmons Publishers has decided to analyze the attitudes of readers toward its newspaper, The Good Day.The publishers want researchers to collect data that is original and specifically collected for their newspaper.The researchers organize an informal interview session in which six to ten people are brought together in a room with a moderator to discuss topics surrounding the newspaper.The researchers also discuss topics related to the newspaper with individuals in a free-flowing conversation. Simmons Publishers also needs detailed information on marketing opportunities for its newspaper.Simmons decides to use _____, which are detailed individual interviews where researchers can discuss topics with an individual at length in a free-flowing conversation in order to discover information that may help address their research.

A)quantitative research
B)in-depth interviews
C)internal data
D)secondary data

Question 70

Andrea has also found some data that comes from documents, presentations and e-mail messages.It is called _____.

A)primary data.
B)external data
C)unstructured data
D)semi-structured data

Question 71

Which of the following is a primary source of information for Sam, who is working on a marketing project?

A)sales reports
B)profitability data
C)company's costing information
D)in-depth interview

Question 72

Which of the following is true about social listening?

A)The metrics derived from social listening can measure only popularity scores.
B)Social listening is an ethically sound and reliable exploratory research technique.
C)Social listening is a form of descriptive research technique.
D)Social listening monitors online consumer conversations on social media sites such as social networks, blogs, and forums.

Question 73

Andrea is working on some research and she has come across some data that is easily tagged and stored.It is ________.

A)experimental data
B)structured data
C)observational data
D)primary data

Question 74

Hestern Ltd.is a third-party organization that audits magazine and newspaper circulation in Toronto, and offers the data to newspapers for a price.This data is an example of _____.

A)ethnographic research
B)secondary information
C)primary source of data
D)focus groups

Question 75

Andrea has done her own research for a project.It is ____ data.

A)primary
B)external
C)financial
D)secondary

Question 76

Simmons Publishers has decided to analyze the attitudes of readers toward its newspaper, The Good Day.The publishers want researchers to collect data that is original and specifically collected for their newspaper.The researchers organize an informal interview session in which six to ten people are brought together in a room with a moderator to discuss topics surrounding the newspaper.The researchers also discuss topics related to the newspaper with individuals in a free-flowing conversation. Simmons Publishers wants researchers to collect data that is original and specifically collected for their newspaper.This is an example of which of the following?

A)primary data
B)secondary data
C)descriptive data
D)qualitative data

Question 77

Andrea has gone to Home Depot and watched a variety of consumers.The data she has collected is _____.

A)primary
B)external
C)observational
D)financial

Question 78

A Vancouver-based chocolate manufacturing company decides to assess the consumption of its products by meeting people who live in Vancouver.Even though the chocolates are consumed across Canada and U.S., the company decides to assess only those consumers who live in Vancouver.This is an example of _____.

A)population surveying
B)non-probability sampling
C)causal research
D)probability sampling

Question 79

A new exploratory research technique that monitors online consumer conversations on social networks, blogs, and forums is called social _____.

A)responding
B)listening
C)media research
D)grouping

Question 80

_____ are static website locations where questions are posted online and respondents are asked to comment on ideas.

A)Online research communities
B)Focus groups
C)Online research bulletin boards
D)In-depth interviews