Question 1

The terms "external secondary data" and "syndicated data" mean the same thing.

Accepted Answer

External secondary data refers to data collected by someone outside of the organization for some purpose other than the current research project, while syndicated data is a form of external secondary data that is sold to multiple organizations by research firms.

Question 2

Donald is analyzing and interpreting data.In the process,he is converting data into information.

Accepted Answer

Analyzing and interpreting data involves making meaning out of raw data, which turns it into useful information.

Question 3

When companies store information on customers' purchase histories in large computer files,this is known as data warehousing.

Accepted Answer

Data warehousing involves storing large amounts of data from multiple sources, typically for analysis and decision-making purposes. Customer purchase histories are a common type of data that companies may store in a data warehouse.

Question 4

Marketing research includes all of the following except:

Accepted Answer

Marketing research involves collecting, recording, interpreting, and analyzing data in order to make informed marketing decisions. However, creating data is not a part of marketing research. The data is typically collected through surveys, interviews, focus groups, and other methods.

Question 5

Political consultants have been using market research for decades to help their candidates understand:

Accepted Answer

Political consultants use market research to understand the demographics and behaviors of the voting public in order to effectively reach them with campaign messaging and mobilization strategies. Choices B, C, D, and E are incorrect as they suggest unethical or illegal practices, which do not align with the principles of democratic elections.

Question 6

Before conducting market research,the first question to ask is,"What are we trying to learn?"

Accepted Answer

This statement is true. The first step in market research is to establish clear research objectives and define what information needs to be gathered in order to answer specific questions or solve specific problems.

Question 7

Marketing research should be used only to produce favorable recommendations for senior management to consider.

Accepted Answer

Marketing research should provide unbiased and objective findings that senior management can use to make informed decisions, whether favorable or unfavorable. The purpose of marketing research is to provide accurate information, not to manipulate or bias the findings to produce a specific outcome.

Question 8

When presenting the results of marketing research to a client,it is acceptable to omit some research data that contradicts the clients' expectations in order to improve the chances of being hired again.

Accepted Answer

It is unethical and unprofessional to omit or manipulate data in order to please the client or improve the chances of getting hired again. Marketing research should be objective and unbiased, and all findings should be presented to the client regardless of whether or not they support the client's expectations. Doing otherwise would compromise the integrity and value of the research.

Question 9

Quentin is in a group of eight to twelve people and is being asked questions by a trained moderator.Quentin is part of an in-depth interview group.

Accepted Answer

The answer of Quentin is in a group of eight...

Question 10

Data collection should begin after the research design process.

Accepted Answer

Data collection should begin after the research design process to ensure that the methods and tools used are aligned with the research objectives and questions.

Question 11

Panel data is always secondary data.

Accepted Answer

The answer of Panel data is always secondary data....

Question 12

After a year in business,Tyrone hired a market research company to analyze his sales data and tell him which groups of customers were the most profitable to his firm.Tyrone will probably use the results of this research to:

Accepted Answer

The market research analysis can provide insights into which groups of customers are the most profitable for the business. This information can help Tyrone to define market segments, adjust positioning strategies, change product offerings, and adjust prices. Therefore, any of these options could be a possible outcome of the market research analysis.

Question 13

Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media.Paul is using this type of market research primarily to:

Accepted Answer

Paul is using media monitoring to keep an eye on his competitors in the industry. This type of market research helps him to stay informed about their activities and adjust his own strategies accordingly. It does not directly provide information about customer needs or pricing, nor does it involve the sale of syndicated data or a link to a production center.

Question 14

Warren is conducting a marketing research project.He is not sure what questions to ask or what types of consumers he should talk to.Warren is ready to conduct conclusive research.

Accepted Answer

Warren is not ready to conduct conclusive research because he is unsure about what questions to ask and what types of consumers to talk to. Conclusive research requires a clear research plan and specific research objectives. Warren should first conduct exploratory research to gather information and insights that will guide the development of his research plan.

Question 15

When Olivia learned that just twenty of her yoga studio customers accounted for eighty percent of her annual revenue,she probably:

Accepted Answer

All of these options could be effective strategies for Olivia to retain her top 20 customers and potentially attract others like them. Adjusting class schedules to meet their needs and offering special sessions for them shows that she values their patronage and is willing to go the extra mile to accommodate them. Surveying them for their preferences in different yoga classes could help Olivia understand what types of classes might appeal to similar customers and broaden her offerings. Analyzing the geodemographics of these customers could also provide valuable insights into where to target marketing efforts to attract more customers like them. Combining these strategies could help Olivia optimize her business performance by catering to her most loyal and profitable customers.

Question 16

Data that has been collected prior to the start of the current research project is considered primary data.

Accepted Answer

Primary data refers to data that is collected specifically for the current research project, while data that has been collected prior to the current project is considered secondary data.

Question 17

One of the benefits of marketing research is it reduces the uncertainty under which managers make decisions.

Accepted Answer

Marketing research provides valuable data and insights that can help managers make informed decisions, reducing the uncertainty associated with these decisions.

Question 18

A major advantage of primary data collection is that it can be tailored to fit the pertinent research questions.

Accepted Answer

Primary data collection allows researchers to design questions and methods specific to their research questions, which increases the relevance and accuracy of the data collected.

Question 19

The Marketing Research Process follows five steps,and in order to be effective they must be followed in order without omitting any steps.

Accepted Answer

The answer of The Marketing Research Process follows five steps,and...

Question 20

Briena is looking at the results of a syndicated study conducted two years ago.Briena is looking at primary data.

Accepted Answer

Syndicated studies are conducted by research firms and the data is collected and sold to multiple clients, so it is considered secondary data. Primary data would be data that Briena collected herself through her own research methods.

Quiz 9: Marketing Research