Question 1

​Sales of your frozen yogurt are down,so you've started a research project aimed at answering the question,"How can we improve the effectiveness of our advertising?" You've also conducted informal interviews with customers,suppliers,and retailers.Which steps in the research process have not yet been tackled?

Accepted Answer

The research process involves defining the problem, conducting exploratory research, formulating a hypothesis, creating a research design, and mining data. The question has already been defined, and informal interviews have been conducted, which is a form of exploratory research. Therefore, the steps that have not yet been tackled are formulating a hypothesis, creating a research design, and mining data.

Question 2

​You are watching an episode of a new game show that tests contestants' knowledge by giving them phrases they must respond to with a question.The following phrase comes up: "Its purpose is to inform an organization about customers' needs and desires,marketing opportunities for products,and changing attitudes and purchase patterns of customers."
What should be your response to the phrase?

Accepted Answer

The phrase describes the purpose of marketing research, which involves gathering information about customers' needs and desires, marketing opportunities, and changing attitudes and purchase patterns. Therefore, the correct response would be "What is marketing research?"

Question 3

A huge database that contains information used to detect patterns is called a _____.

Accepted Answer

A data warehouse is a large repository of information that is used to support business decision-making activities such as data mining, business intelligence, and analytics. It collects and stores data from a wide range of sources and is designed to facilitate the analysis and reporting of data to support business decisions. While "big data" is often used to describe large and complex data sets, it is not necessarily synonymous with a data warehouse, which is a specific type of database designed for analytical purposes.

Question 4

What has been the impact of big data on gathering information?

Accepted Answer

Big data has created an environment in which the lines between primary and secondary data have become blurred. With so much data readily available, it can be difficult to determine whether a specific piece of information is considered primary (collected specifically for a particular research project) or secondary (previously collected by someone else). This can make it challenging to classify and analyze data properly. The cost of data collection has not necessarily increased, and big data has had a significant impact on marketing research data. Furthermore, big data has generally been associated with faster data collection processes, rather than slower ones.

Question 5

What is a major source of information for U.S.companies that want to research global markets?

Accepted Answer

Export.gov is a website created by the U.S. government specifically to provide information and resources for American companies wanting to export and research global markets. It provides access to market research reports, trade leads, and information on export financing and regulations. Amazon.com and Google.com are not specialized sources for global market research, and Europa.eu is focused on the European Union, making it less useful for American businesses researching markets beyond Europe.

Question 6

A group of people chosen from a defined population to be survey respondents or research participants is called a:

Accepted Answer

A sample is a subset of a population that is chosen to participate in research or surveys. This choice is the most appropriate as it pertains to the question. Population refers to the entire group being studied, while segment refers to a division of the population based on certain characteristics. Community can also refer to a group of individuals in a specific location or with a shared identity, but it is not as precise as sample in the context of research participation.

Question 7

​Your company is branching out into the developing world for the first time.You know that it could be challenging to use the firm's mail surveys in these countries.Among the relevant challenges,developing countries are commonly known to have:

Accepted Answer

Developing countries often face challenges such as low literacy rates, which can affect the effectiveness of mail surveys, and unreliable mail services, which can hinder the delivery and return of surveys.

Question 8

​A congressional candidate's campaign manager wants to survey all registered voters in the district.Choose the sampling term(s)that would apply to this group of people.

Accepted Answer

Population and Universe both refer to the total group of people that the campaign manager wants to survey (in this case, all registered voters in the district). Electoral sample and Campaign sample are not accurate terms to describe this group, as they refer to specific subsets of the population that may have been selected for a survey or study.

Question 9

​You've noticed a decline in seafood orders at your restaurant,but you're unsure what is causing the problem.So you've begun to talk with customers,monitor the restaurant's Facebook page,and interview seafood suppliers.You are engaged in:

Accepted Answer

The answer of ​You've noticed a decline in seafood orders...

Question 10

The total group of people that a researcher wants to study is called the:

Accepted Answer

The total group of people that a researcher wants to study is called the universe.

Question 11

Tiffany is a marketing research consultant and is working with a local community college to determine the primary reasons students select the college.Based on exploratory research,Tiffany believes the main reasons are cost,convenience and value.She plans to conduct additional research to determine whether or not this ______ can be supported.​

Accepted Answer

Tiffany's belief about the main reasons why students select the college is a hypothesis that now needs to be tested through additional research. This will help determine whether or not her hypothesis can be supported by empirical evidence.

Question 12

Match each item with the correct statement below.
-_____ refers to the information collected from previously published or compiled sources.

Accepted Answer

Secondary data refers to information collected from previously published or compiled sources.

Question 13

Although cost effective,an online focus group _____.

Accepted Answer

An online focus group does not allow the moderator to see body language or nonverbal cues, which can be important in understanding the participants' reactions and opinions. The other options are not specific to online focus groups.

Question 14

You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S.economy. ​
​
Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts?​

Accepted Answer

In order to enhance the accuracy of the model's forecasts, one would need quantitative data about the company's historical sales and U.S. economic performance statistics. This would enable a regression model to identify trends and patterns that could be used to predict future sales based on changes in the economy. Qualitative data about the sales force and marketing environment can be useful for other purposes, but they would not have as direct an impact on the accuracy of the sales forecasting model.

Question 15

Match each item with the correct statement below.
-A(n)_____ is a tentative explanation for a specific event.

Accepted Answer

A hypothesis is a tentative explanation for a specific event.

Question 16

Match each item with the correct statement below.
-_____ seeks to discover the cause of a specific problem by discussing the problem with informed sources and by examining data from other information sources.

Accepted Answer

Exploratory research is the type of research that seeks to discover the cause of a specific problem by discussing the problem with informed sources and by examining data from other information sources.

Answer: D
 Primary data is data that is collected specifically for the research project at hand, often through surveys, focus groups, or experiments.

Answer: C
 Secondary data is data that has already been collected and is available for use, such as statistics or reports from government agencies, trade associations, or other research organizations.

Answer: G
 A simple random sample is a subset of a larger population in which every member of the population has an equal chance of being chosen.

Answer: H
 Interpretative research is a type of research that seeks to understand the subjective meanings that people attach to their experiences, often through in-depth interviews or observations.

Answer: I
 A focus group is a type of research in which a small group of people is brought together to discuss a specific product, service, or idea.

Answer: N
 Marketing research is the process of gathering, analyzing, and interpreting information about a market or a product in order to make informed decisions about marketing strategies.

Answer: P
 Test marketing is a type of research in which a product or service is launched in a limited market to see how it performs before a full-scale launch.

Answer: R
 Data mining is the process of analyzing large sets of data to extract useful information and patterns.

Answer: T
 Controlled experiments are research studies in which one or more variables are manipulated in a controlled environment in order to observe the effects on other variables.

Question 17

A sampling method that involves first selecting a sample of subgroups from the population and then drawing a sample from each group so that the final sample represents the diversity of the population is called a _______ sample.​

Accepted Answer

Cluster sampling is the method described in which the population is divided into subgroups or clusters, and then a sample is taken from each cluster. This method is useful when the population is diverse and geographically dispersed. It is efficient because it reduces the time and cost required to gather information about the population by grouping individuals into clusters.

Question 18

Which of the following is the earliest method used for gathering marketing information?

Accepted Answer

Written testimonials have been used since ancient times as a way for businesses to gather information about their products and services. In fact, some of the earliest examples of advertising, such as ancient Egyptian papyri and medieval European town criers, relied on word-of-mouth endorsements from satisfied customers. While more sophisticated methods of market research have since been developed, such as telephone and email surveys, written testimonials still play an important role in promoting trust and credibility among customers.

Question 19

Match each item with the correct statement below.
-_____ is the process of collecting and using information for marketing decision making.

Accepted Answer

Marketing research is the process of collecting and using information for marketing decision making.

Answer: D
 Primary data is data that is collected specifically for the research question at hand.

Answer: C
 Secondary data is data that has already been collected for some other purpose and is available for research use.

Answer: E
 Sampling is the process of selecting a subset of the population to study in order to draw conclusions about the whole population.

Answer: J
 A marketing decision support system is software that helps marketers make strategic decisions by organizing and analyzing data.

Answer: K
 Key performance indicators are measurements of key business metrics that are used to evaluate performance.

Answer: R
 Data mining is the process of analyzing large datasets to find patterns and relationships.

Answer: L
 Predictive analytics is the use of statistical algorithms and machine learning techniques to predict future outcomes.

Answer: M
 Metrics are measurements of specific aspects of a business or marketing campaign.

Answer: P
 Test marketing is the process of testing a new product or marketing campaign in a limited geographic area to determine its effectiveness.

Question 20

​To decide where to locate a new shoe store,you need to know the size of the population in different towns.Unfortunately,you have almost no money to spend on data collection.The type(s)of data most accessible to you can be described as:

Accepted Answer

The answer of ​To decide where to locate a new...

Quiz 10: Marketing Research in the Era of Big Data

A huge database that contains information used to detect patterns is called a _____.

What has been the impact of big data on gathering information?

What is a major source of information for U.S.companies that want to research global markets?

A group of people chosen from a defined population to be survey respondents or research participants is called a:

Your company is branching out into the developing world for the first time.You know that it could be challenging to use the firm's mail surveys in these countries.Among the relevant challenges,developing countries are commonly known to have:

A congressional candidate's campaign manager wants to survey all registered voters in the district.Choose the sampling term(s) that would apply to this group of people.

You've noticed a decline in seafood orders at your restaurant,but you're unsure what is causing the problem.So you've begun to talk with customers,monitor the restaurant's Facebook page,and interview seafood suppliers.You are engaged in:

The total group of people that a researcher wants to study is called the:

Match each item with the correct statement below. -_____ refers to the information collected from previously published or compiled sources.

Although cost effective,an online focus group _____.

You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S.economy. Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts?

Match each item with the correct statement below. -A(n) _____ is a tentative explanation for a specific event.

Match each item with the correct statement below. -_____ seeks to discover the cause of a specific problem by discussing the problem with informed sources and by examining data from other information sources.

A sampling method that involves first selecting a sample of subgroups from the population and then drawing a sample from each group so that the final sample represents the diversity of the population is called a _______ sample.

Which of the following is the earliest method used for gathering marketing information?

Match each item with the correct statement below. -_____ is the process of collecting and using information for marketing decision making.

To decide where to locate a new shoe store,you need to know the size of the population in different towns.Unfortunately,you have almost no money to spend on data collection.The type(s) of data most accessible to you can be described as:

Quiz 10: Marketing Research in the Era of Big Data

A huge database that contains information used to detect patterns is called a _____.

What has been the impact of big data on gathering information?

What is a major source of information for U.S.companies that want to research global markets?

A group of people chosen from a defined population to be survey respondents or research participants is called a:

​Your company is branching out into the developing world for the first time.You know that it could be challenging to use the firm's mail surveys in these countries.Among the relevant challenges,developing countries are commonly known to have:

​A congressional candidate's campaign manager wants to survey all registered voters in the district.Choose the sampling term(s) that would apply to this group of people.

​You've noticed a decline in seafood orders at your restaurant,but you're unsure what is causing the problem.So you've begun to talk with customers,monitor the restaurant's Facebook page,and interview seafood suppliers.You are engaged in:

The total group of people that a researcher wants to study is called the:

Match each item with the correct statement below. -_____ refers to the information collected from previously published or compiled sources.

Although cost effective,an online focus group _____.

You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S.economy. ​ ​ Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts?​

Match each item with the correct statement below. -A(n) _____ is a tentative explanation for a specific event.

Match each item with the correct statement below. -_____ seeks to discover the cause of a specific problem by discussing the problem with informed sources and by examining data from other information sources.

A sampling method that involves first selecting a sample of subgroups from the population and then drawing a sample from each group so that the final sample represents the diversity of the population is called a _______ sample.​

Which of the following is the earliest method used for gathering marketing information?

Match each item with the correct statement below. -_____ is the process of collecting and using information for marketing decision making.

​To decide where to locate a new shoe store,you need to know the size of the population in different towns.Unfortunately,you have almost no money to spend on data collection.The type(s) of data most accessible to you can be described as:

Your company is branching out into the developing world for the first time.You know that it could be challenging to use the firm's mail surveys in these countries.Among the relevant challenges,developing countries are commonly known to have:

A congressional candidate's campaign manager wants to survey all registered voters in the district.Choose the sampling term(s) that would apply to this group of people.

You've noticed a decline in seafood orders at your restaurant,but you're unsure what is causing the problem.So you've begun to talk with customers,monitor the restaurant's Facebook page,and interview seafood suppliers.You are engaged in:

You are working with the data scientist from your sales department to develop a regression model for forecasting your company's sales based on changes in the U.S.economy. Which of the following types of data do you need the most in order to enhance the accuracy of the model's forecasts?

A sampling method that involves first selecting a sample of subgroups from the population and then drawing a sample from each group so that the final sample represents the diversity of the population is called a _______ sample.

To decide where to locate a new shoe store,you need to know the size of the population in different towns.Unfortunately,you have almost no money to spend on data collection.The type(s) of data most accessible to you can be described as: