Question 1

A field-service firm is a ________ research firm.

Accepted Answer

A field-service firm is a type of specialty-line marketing research firm that focuses on collecting data and conducting research for businesses that provide field services, such as telecommunications, utilities, and transportation. This type of research firm specializes in areas such as tracking customer satisfaction, measuring service quality, and identifying areas for improvement in the delivery of services.

Question 2

Give an example of experimental research.

Accepted Answer

Experimental research is designed to capture cause-and-effect relationships by eliminating competing explanations of the observed findings. If the experiment is well designed and executed, research and marketing managers can have confidence in the conclusions. Experiments call for selecting matched groups of subjects, subjecting them to different treatments, controlling extraneous variables, and checking whether observed response differences are statistically significant.

Question 3

Explain qualitative research and why it might be useful to marketers. What are its major drawbacks?

Accepted Answer

Qualitative research techniques are relatively unstructured measurement approaches to permit a range of possible responses, and they are a creative means of ascertaining consumer perceptions that may otherwise be difficult to uncover. Because of the freedom it affords both researchers in their probes and consumers in their responses, qualitative research can often be an especially useful first step in exploring consumers' brand and product perceptions. It is indirect in nature, so consumers may be less guarded and reveal more about themselves in the process.
Qualitative research does have its drawbacks. Marketers must temper the in-depth insights that emerge with the fact that the samples are often very small and may not necessarily generalize to broader populations. And different researchers examining the same qualitative results may draw very different conclusions.

Question 4

You are the marketing research director of a medium-sized manufacturing firm and you would like to engage an outside marketing research firm to conduct field interviews. Which of the following categories of marketing research firms should you use?

Accepted Answer

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Question 5

What are the relative advantages of online and in-person focus groups?

Accepted Answer

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Question 6

Good marketing insights often form the basis of successful marketing programs.

Accepted Answer

Good marketing insights are crucial in developing effective marketing strategies and campaigns that resonate with audiences, build brand awareness, and ultimately drive business growth. By gaining a deep understanding of customer behavior, preferences, pain points, and purchase journey, marketers can tailor their messaging, product offerings, and communication channels to connect with their target audience and deliver relevant and valuable experiences that meet their needs and wants. Therefore, having insightful and actionable marketing data is a key component of successful marketing programs.

Question 7

What are the six steps involved in the marketing research process?

Accepted Answer

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Question 8

Which of the following types of marketing research firms gathers consumer and trade information and then sells it for a fee (e.g., Nielsen Company)?

Accepted Answer

Syndicated-service research firms gather information from a variety of sources and sell it to clients for a fee. This is exemplified by the Nielsen Company, which collects and provides data on consumer behavior and media usage to clients in various industries. Custom marketing research firms create research studies tailored to the specific needs of individual clients, while specialty-line marketing research firms focus on a particular industry or type of research. Generic and focused marketing research firms are not recognized categorizations within the industry.

Question 9

When companies engage students to design and carry out projects, the payoff to the students is experience and visibility; the payoff to the companies is a fresh sets of eyes to solve problems at a fraction of what consultants would charge.

Accepted Answer

The sentence clearly states that companies benefit from engaging students for projects as it provides a cost-effective solution to their problems. Similarly, the students benefit from gaining practical experience and exposure to potential employers.

Question 10

A(n) ________ is a gathering of 6 to 10 people carefully selected by researchers based on certain demographic, psychographic, or other considerations and brought together to discuss various topics of interest at length.

Accepted Answer

A focus group is a research technique in which a small group of people is brought together to discuss certain topics of interest at length. The participants are carefully selected based on certain demographic, psychographic, or other considerations, and the discussion is usually moderated by a researcher. The goal of a focus group is to gather qualitative data on the participants' opinions, beliefs, attitudes, and experiences related to the topics being discussed.

Question 11

________ is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

Accepted Answer

Marketing research involves the systematic process of gathering data and analyzing it to provide insights and recommendations relevant to a specific marketing situation. It helps companies to better understand their target market, gain insights into customer behavior, and develop effective marketing strategies. Marketing research can involve a range of techniques and methods, such as surveys, focus groups, experiments, and observation.

Question 12

A good example of a syndicated-service research firm is Nielsen Media Research.

Accepted Answer

Nielsen Media Research is a syndicated-service research firm that conducts audience measurement and advertising research for the media and advertising industries. Other examples of syndicated-service research firms include Ipsos and GfK.

Question 13

List the challenges faced to conduct a good focus group discussion.

Accepted Answer

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Question 14

Custom marketing research firms sell field interviewing services to other firms.

Accepted Answer

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Question 15

Anne, a beautician by profession, owns a salon in the small town of Franklin, New Jersey. Every weekend, she makes it a point to visit the other salons in Franklin to find out about the beauty services they offer to customers. Anne is attempting to conduct market research by ________.

Accepted Answer

Anne is conducting market research by checking out rivals in order to gain information about the beauty services they offer to customers. This will help her to stay competitive in the market and potentially improve her own services.

Question 16

Discuss the different ways that can be adopted by small manufacturing firms to conduct market research.

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Question 17

________ provide diagnostic information about how and why we observe certain effects in the marketplace, and what that means to marketers.

Accepted Answer

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Question 18

The Nielsen Company and IRI are examples of ________, or firms that gather consumer and trade information which they sell for a fee.

Accepted Answer

Nielsen Company and IRI are examples of syndicated-service research firms, which are firms that gather and sell consumer and trade information for a fee. These firms collect data from a wide range of sources and sell it to multiple clients, allowing companies to access information that they might not be able to collect on their own.

Question 19

Amity Inc. is a firm which collects and processes household data and sells it to other firms which produce consumer durables. Amity is an example of a ________ research firm.

Accepted Answer

Amity Inc. is a syndicated-service research firm as it collects and processes data for multiple clients and sells it to them.

Question 20

AT&T, GE, Samsung, Shell Oil, and others have engaged in a(n) ________ exercise by sponsoring the Innovation Challenge, where top MBA students compete in teams to address company problems.

Accepted Answer

Crowdcasting is an exercise in which a company solicits ideas or solutions from a large, diverse group of people such as customers, employees, or in this case, MBA students. The Innovation Challenge sponsored by AT&T, GE, Samsung, Shell Oil, and others involves top MBA students competing in teams to provide innovative solutions to company problems. Therefore, the best choice is A) crowdcasting.

Quiz 4: Conducting Marketing Research