Question 1

Julia is focused on finding information about her firm's competitors. She is looking through published sources, as well as reviewing her competition's advertising. What is Julia engaged in?

Accepted Answer

Julia is engaged in competitive intelligence, which involves gathering and analyzing information about competitors from publicly available sources to inform strategic decision-making.

Question 2

Which statement best describes primary data collection methods used by marketing researchers in Canada?

Accepted Answer

Primary data collection methods often need adjustments when applied in different countries due to cultural, legal, and language differences. While the core principles of data collection might be similar, the execution can vary significantly based on the local context.

Question 3

Tarek is the owner of a construction company and uses a Marketing Information System to provide him with statistics reflecting the previous week's contracts. Why should Tarek use Marketing Decision Support System software?

Accepted Answer

The answer of Tarek is the owner of a construction...

Question 4

What is the outcome of a properly constructed marketing information system?

Accepted Answer

The answer of What is the outcome of a properly...

Question 5

What is a common barrier for Canadian companies doing research outside Canada?

Accepted Answer

The answer of What is a common barrier for Canadian...

Question 6

Marc is an entrepreneur who wants to export products to other countries. What is a major information source for Marc to learn about marketing activities and consumers in those countries?

Accepted Answer

Industry Canada provides valuable information and resources for businesses looking to export, including market research, trends, and consumer behavior in various countries, making it a major information source for entrepreneurs like Marc.

Question 7

Subway introduces a new line of vegetarian sandwiches in 20 locations in Southern Ontario for a six-month period. If the product and promotional efforts behind it are successful, the company may launch the sandwiches nationwide. What type of research is being conducted to determine potential success?

Accepted Answer

Test-marketing involves introducing a new product or service to a limited geographical area to gauge its success before a wider release, which is what Subway is doing with its vegetarian sandwiches in Southern Ontario.

Question 8

What type of research involves a scientific investigation in which a researcher manipulates a test group and compares the results with those of another group that did not receive the experimental manipulations?

Accepted Answer

The answer of What type of research involves a scientific...

Question 9

Keith is working on a computerized search through one of his company's massive data files. The purpose of the search is to try to detect patterns in product sales. What is Keith engaged in?

Accepted Answer

Data mining involves searching through large volumes of data to identify patterns and relationships. Keith's activity of looking for patterns in product sales within a massive data file aligns with the definition of data mining.

Question 10

What is an estimate of a firm's revenue for a specified future period is known as?

Accepted Answer

A sales forecast is an estimate of the amount of revenue that a company expects to earn in the future. It is a common financial planning tool used to project sales revenue over a specific period, helping businesses make informed decisions about budgeting, resource allocation, and strategic planning.

Question 11

A basic building block of marketing planning is an estimate of the firm's revenue for a specified future time period. What is this referred to as?

Accepted Answer

A sales forecast is an estimate of the amount of money a company expects to earn from the sale of its products or services over a certain period of time. It is a fundamental component of marketing planning as it helps in setting realistic goals and preparing strategies to achieve them.

Question 12

Dana is working with a computer-based system that provides a continuous flow of information relevant to his responsibilities. What system is Dana working with?

Accepted Answer

A marketing information system provides a continuous flow of information relevant to marketing decisions.

Question 13

Which statement best describes interpretive research?

Accepted Answer

The answer of Which statement best describes interpretive research?
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Question 14

What term refers to a planned, computer-based system designed to provide decision makers with a continuous flow of information relevant to their areas of responsibility?

Accepted Answer

A marketing information system is a planned, computer-based system designed to provide decision makers with a continuous flow of information relevant to their areas of responsibility, specifically in the context of marketing.

Question 15

Why are mail surveys an unreliable means of gathering primary data in many foreign countries?

Accepted Answer

Mail surveys can be unreliable in many foreign countries due to low literacy rates, which can prevent a significant portion of the population from being able to read and respond to the survey.

Question 16

Hi-Test Cola Company wanted to create a sample that would contain 25 of its regular cola drinkers, 25 of its diet cola drinkers, 25 of its diet caffeine-free drinkers, and 25 of its caffeine-free regular cola drinkers. The company did this by stopping people on the street and continuing until it had spoken to enough people to meet the requirement. Which sampling method was used?

Accepted Answer

The method used is non-probability quota sampling because the company aimed to fill specific quotas for different groups of cola drinkers until they met their predetermined numbers.

Question 17

What is the most common method for conducting primary research outside Canada?

Accepted Answer

Face-to-face interviewing is often considered the most common method for conducting primary research outside Canada, especially in countries with lower internet penetration or where cultural norms favor personal interaction.

Question 18

A marketing research firm has set up a special store where customers are told they may be observed while shopping. Customer behaviour is observed in this setting, and then the firm interprets the data based on an understanding of social and cultural characteristics of that setting. What type of research is this firm conducting?

Accepted Answer

The firm is conducting interpretative research, as it involves observing customer behavior in a specific setting and then interpreting the data based on an understanding of social and cultural characteristics. This approach focuses on understanding the context and the meaning of the behavior observed.

Question 19

What is the process of searching through computerized information files to detect patterns that guide decision making called?

Accepted Answer

Data mining involves analyzing large datasets to discover patterns, trends, and relationships that can inform decision-making.

Question 20

What is it called when huge amounts of customer information are entered into a database to be used for data mining?

Accepted Answer

A data warehouse is a centralized repository that stores large amounts of data from various sources and is designed to facilitate reporting and data analysis, including data mining.

Quiz 8: Marketing Research, Decision Support Systems, and Sales Forecasting