Question 1

Good information, used appropriately, is the key to using company resources efficiently to maximize profit.

Accepted Answer

Good information allows for informed decision-making, optimizing the use of resources, and targeting efforts where they can generate the most profit, thereby enhancing efficiency and profitability.

Question 2

As costs and skills needed for good research are beyond what small business can afford or use, marketing research is limited to large businesses.

Accepted Answer

Small businesses can also conduct marketing research using cost-effective methods and tools tailored to their scale and resources, such as online surveys, focus groups, and analysis of existing data.

Question 3

When analyzing qualitative data, one major problem is interpreting what the researcher read, heard and saw.

Accepted Answer

Qualitative data analysis involves subjective interpretation of non-numerical data, such as texts, interviews, or observations, which can lead to challenges in ensuring objectivity and consistency in how the data is understood and represented.

Question 4

Marketing research should not be considered a single, one-time event, so creating a useful decision support system requires an ongoing, systematic approach to research.

Accepted Answer

Marketing research is an ongoing process because markets, consumer behaviors, and competitive environments are constantly changing, necessitating continuous data collection and analysis to support informed decision-making.

Question 5

Because his firm collected sales reports, purchase records and customer information, Steve was able to make better marketing decisions, which led to consistently better marketing plans. Steve was able to use effectively the firm's

Accepted Answer

Steve was able to make better marketing decisions by using the firm's decision support system (DSS), which utilizes collected data such as sales reports, purchase records, and customer information to aid in decision-making.

Question 6

Alicia was thinking about how to grow her greeting card store, and she wondered if adding some gift lines or maybe candles might help increase sales. Her friend, Jessica, suggested using market research to help make the decision. What kind of research would be best for Alicia in this situation?

Accepted Answer

Exploratory research is best for Alicia because it helps to investigate a problem or situation in a new light. This type of research is useful when you're not exactly sure what you're looking for or how to approach a problem, which fits Alicia's situation of considering new product lines to increase sales without specific direction.

Question 7

If you had a successful car repair facility and needed to know more about how frequently your customers came in and whether you were meeting their servicing needs, what kind of research should you do or commission to help address this marketing issue?

Accepted Answer

Descriptive research is designed to describe characteristics of a population or phenomenon being studied. It does not answer questions about how/when/why the characteristics occurred, which means it can be used to describe the frequency with which something occurs or the relationship between two variables. In the context of a car repair facility wanting to know more about how frequently customers come in and whether their needs are being met, descriptive research would help in gathering and analyzing data related to customer visit patterns and satisfaction levels.

Question 8

Which of the following is a major problem in causal research?

Accepted Answer

Causal research often involves identifying and testing the various factors that influence consumer decisions and behaviors, which can be complex and challenging. This complexity makes it difficult to pinpoint all the potential reasons behind customer actions, hence why option B is correct.

Question 9

Carly has discovered that getting customers and potential customers to talk with each other about their impression of the new products is invaluable. She tried developing individual responses, but they seemed one-sided and not very interesting. Carly favors which qualitative marketing research technique at this point?

Accepted Answer

Focus groups are designed to encourage interaction among participants, allowing Carly to gather diverse opinions and impressions about the new products. This method is valuable for generating rich, qualitative data through group dynamics and discussions.

Question 10

Which term best describes data that already exists, collected for another purpose that can be used to address a research problem?

Accepted Answer

Secondary data refers to information that was collected by someone else for a different purpose but can be repurposed for a new research question. This contrasts with primary data, which is collected directly by the researcher for their specific study.

Question 11

Which term BEST describes methods used to watch what customers do and recoding patterns of interest?

Accepted Answer

Observation is the method that directly involves watching what customers do to identify patterns of interest, making it the best choice among the options provided.

Question 12

Julia was frustrated that she could not get the information she needed for the new marketing campaign. There was plenty of information relevant to the new campaign, but the problem she faced was that the information

Accepted Answer

The correct choice indicates that Julia's frustration stems from her inability to manipulate the available information for the analysis required for the new marketing campaign.

Question 13

Earl was able to discover several clues to the customers' purchasing behaviors by using the firm's decision support system. He was talking to the Chief Marketing Officer and described all of the system's useful characteristics EXCEPT which of the following?

Accepted Answer

The correct answer is D because the presence of systems analysts and IT areas to help dig through the data is not a characteristic of the decision support system itself, but rather an external support resource. The other options (A, B, C) directly describe characteristics of the decision support system.

Question 14

Joanne had to make a presentation to the senior management of her firm to get approval for an internal research area. To make the case as strongly as possible, she wanted to be precise and distinguish market research from marketing research. Which of the following would be considered marketing research instead of market research?

Accepted Answer

Marketing research involves gathering information about the effectiveness and success of marketing strategies and campaigns, which is what option A describes.

Question 15

The distinction between market research and marketing research includes the different processes in collection and methods that are used in each.

Accepted Answer

Market research focuses specifically on gathering information about market needs and customer preferences, while marketing research is broader, encompassing all research activities within marketing, including market research but also covering areas like product development, distribution, and sales strategies. The distinction is not about different processes or methods of collection but rather the scope of research.

Question 16

Robert had just received approval to develop research he could use to support the new campaign. His first task was to

Accepted Answer

Defining the problem in clear and specific terms is the first critical step in the research process, as it sets the direction for the entire project.

Question 17

Marie had been tasked with a new research project. The CMO had told her to find out why revenue targets weren't being met, and most importantly, keep it simple. Why was Marie troubled about using that as the definition of the problem?

Accepted Answer

Marie was troubled because she saw missing revenue targets as a symptom of a deeper issue, not the root problem itself, which is what she needed to research.

Question 18

Is a market or marketing research project applicable to short-term projects and questions?

Accepted Answer

Market or marketing research projects can be applicable to short-term projects and questions, but they still require going through the six steps in the research process. These steps ensure that the research is systematic and that the findings are reliable, regardless of the project's duration.

Question 19

Ricardo was establishing the desired outcome of the research project on what flavors would be best for the new iced tea product. This is a typical decision made in the Develop the Research Plan stage of the research process.

Accepted Answer

Establishing the desired outcome is part of defining the research objectives, which is a key component of developing the research plan.

Question 20

Beth, the senior marketing associate in her firm, had worked as a facilitator and was pleased at how the senior managers had worked together to define the research objective and develop the research plan. Given the success, who should be included in the next phases?

Accepted Answer

The answer of Beth, the senior marketing associate in her...

Quiz 5: Research in Marketing