Question 1

________ are data that were collected for another purpose and already exist somewhere.

Accepted Answer

Secondary data refers to data that have already been collected and are available somewhere, either internally or externally to a researcher. They are often cheaper and faster to obtain than primary data, but their quality and relevance may vary.

Question 2

As a marketing research manager you have begun calculations on the costs of a proposed marketing research project. During which stage of the marketing research process are such calculations most likely to take place?

Accepted Answer

Calculations on the costs of a proposed marketing research project are likely to take place during Stage 2: Develop the research plan, as this is when the research design and data collection methods are determined, and the budget is developed.

Question 3

Which of the following types of marketing research firms would best be described as being one that gathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?

Accepted Answer

Syndicated-service research firms specialize in gathering and selling consumer and trade information for a fee. Nielsen Media Research is an example of a syndicated-service research firm. Custom marketing research firms, on the other hand, provide tailored research solutions to specific clients, while nonprofit marketing research firms focus on conducting research for charitable or public interest purposes. General-line marketing research firms offer a broad range of research services, while specialty-line marketing research firms focus on a specific area of research, such as healthcare or technology.

Question 4

The first step in the marketing research process is to

Accepted Answer

Before any research can be conducted, it is important to clearly define the problem and research objectives. This provides direction and focus for the research plan and ensures that the research will effectively address the problem at hand.

Question 5

If a marketing research firm sells its field interviewing services to other firms, it would be called an example of a

Accepted Answer

A specialty-line marketing research firm focuses on specific types of research services, such as field interviewing, rather than offering a wide range of research services.

Question 6

Marketing research is now about a ________ billion industry globally.

Accepted Answer

The answer of Marketing research is now about a ________...

Question 7

A ________ is a gathering of six to ten people who are carefully selected based on certain demographic, psychographic, or other considerations and brought together to discuss at length various topics of interest.

Accepted Answer

A focus group is a gathering of six to ten people who are carefully selected based on certain demographic, psychographic, or other considerations and brought together to discuss at length various topics of interest. This is a common method used in market research to gather insights about consumer opinions, perceptions, and behavior. The other options are not relevant to the definition provided.

Question 8

Which one of the following decisions should be made before designing the research plan?

Accepted Answer

Drafting research objectives should be the first decision made before designing the research plan. This decision helps researchers to identify what they need to find out, what information they need to collect, and how they will use the research findings to meet their research objectives. Only after the research objectives are established should researchers move on to making decisions about research instruments, approaches, data sources, sampling plans, and other aspects of the research plan.

Question 9

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 checking out her rivals, or other salons in the area, to gather information about the beauty services they offer. This is a form of market research, which involves gathering information about competitors, customer behavior, and other factors that can influence a business's success. Option A is not applicable in this scenario, as there is no mention of Anne engaging professors to conduct research. Option C is also not applicable, as Anne is visiting her competitors to gather information, rather than forming alliances with them. Option D is partially correct, as studying customer behavior is a form of market research, but it is not specifically what Anne is doing in this scenario.

Question 10

Companies normally budget marketing research at ________ percent of company sales.

Accepted Answer

Companies normally budget marketing research at 1 to 2 percent of company sales. This is a standard industry average for businesses across different sectors. However, some companies may choose to allocate more or less depending on their specific needs and goals.

Question 11

The most scientifically valid research is ________ research.

Accepted Answer

Experimental research is considered the most scientifically valid because it involves the manipulation of variables and control of extraneous variables to determine causality.

Question 12

Before Sandra Labelle opened her floral shop she read all she could on the industry. She also reviewed library data banks on growth patterns in the local area with particular interest in the location of florists throughout the city. This ________ assisted her in deciding where to locate her store.

Accepted Answer

The information Sandra reviewed from library data banks is secondary data, which refers to information that has already been collected and is available through sources such as books, articles, or databases. This data can be useful for making informed decisions, such as determining the best location for a business.

Question 13

Which of the following is considered to be the last step in the marketing research process?

Accepted Answer

The answer of Which of the following is considered to...

Question 14

The marketing manager needs to know the cost of the research project before approving it. During which of the following stages of the marketing research process would such a consideration most likely take place?

Accepted Answer

The consideration of cost would most likely take place during the second stage of the marketing research process, which is developing the research plan. This is where the researcher outlines the specific research methods and data collection techniques to be used, and cost considerations are taken into account during this planning stage.

Question 15

Companies undertake surveys to learn about people's knowledge, ________, preferences, and satisfaction, and to measure these magnitudes in the general population.

Accepted Answer

Surveys are used to gather information on people's beliefs, opinions, attitudes, and preferences. Therefore, option B is the best choice. Options A, C, D, and E are irrelevant and do not describe the purpose of conducting surveys.

Question 16

Assume that you are a marketing research director for a medium-sized manufacturing firm and you would like to engage an outside marketing research firm to conduct your field interviews. Which of the following options would be your best choice to achieve your objective?

Accepted Answer

The answer of Assume that you are a marketing research...

Question 17

Primary data can be collected in several ways. Which of the following primary data collection methods would be exemplified by constructing see-through mirrors in a retail store whereby consumers' actions could be recorded?

Accepted Answer

This method is an example of observation, where researchers directly observe and record consumers' behavior without any intervention or manipulation.

Question 18

Fuji Photo Film uses a combination of marketing-research resources to study their industries, competitors, audiences, and channel strategies. When they purchase data from the NRG Group, they have

Accepted Answer

When Fuji Photo Film purchases data from the NRG Group, they are using the services of a syndicated-service research firm. A syndicated-service firm collects data on a regular basis and sells it to multiple clients, making it a cost-effective way to access a large amount of information about industries, competitors, and audiences.

Question 19

The most common instrument used to collect primary data is the

Accepted Answer

A questionnaire is the most common instrument used to collect primary data. It allows researchers to gather information directly from participants in a consistent and standardized way. Other options listed, such as the human eye, bar code reader, Internet, and video camera, are not typically used as primary data collection instruments, or they are used in conjunction with other methods.

Question 20

________ 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 is the process of gathering information related to a particular marketing problem or opportunity faced by a company. It involves collecting data, analyzing and interpreting results, and making recommendations based on the findings. This can help companies make informed decisions about product design, market segmentation, pricing, promotion, and distribution strategies.

Quiz 4: Conducting Marketing Research