Question 1

Neuromarketing is a new technique to measure consumer's response to marketing stimuli.Neuromarketing measures brain activity using an electroencephalography (EEG)technique or magnetic resonance imaging (MRI).Those results are then compared to the results from verbal survey-based techniques.All of the following CANNOT be measured except:

Accepted Answer

Neuromarketing techniques like EEG and MRI can measure brain activity related to emotions, as they capture real-time responses in the brain, unlike purchase intent, attitudes, or persuasiveness, which are more abstract and subjective.

Question 2

Consumers that have taken a survey approved by the Marketing Research and Intelligence Association (MRIA)have certain rights.These rights have been developed into what is called the Charter of Respondent Rights.When it comes to participating in an MRIA approved survey,which of the following is TRUE?

Accepted Answer

According to the Charter of Respondent Rights, participants in an MRIA approved survey have the right to be contacted at reasonable times. This means that the survey company should not contact the individual at inconvenient times, such as late at night or early in the morning.

Answer: D 
 The statement "The interview must be completed in five minutes and not at meal time" is not true. The Charter of Respondent Rights does not specify a specific time frame for completing a survey or prohibit surveys from being conducted during meal times.

Question 3

Neuromarketing is a new market research tool that measures the brain activity when exposed to different marketing stimuli.Which of the following statements regarding neuromarketing is FALSE?

Accepted Answer

Neuromarketing measures the brain activity in response to marketing stimuli and can provide insight into how customers actually feel towards a product. However, it cannot put thoughts into people's minds. It is also not necessarily a small sample size (although sample size can vary depending on the study), and while it can be expensive, the cost may vary depending on the specific method being used.

Question 4

Consumers that have taken a survey approved by the Marketing Research and Intelligence Association (MRIA)have certain rights.These rights have been developed into what is called the Charter of Respondent Rights.All of the following are rights to the respondent except:

Accepted Answer

While all of the other choices are rights of the respondent according to the Charter of Respondent Rights, choice C is not. The Charter only states that respondents have the right to know the approximate duration of the interview, but it does not guarantee payment if the interviewer goes past that duration.

Question 5

The marketing manager at Popular Electronics must determine a price for a new model of portable CD player.He will use the company's information system to determine how the manufacturer's suggested retail price might affect total sales revenues.This type of analysis is called:

Accepted Answer

The type of analysis described is sensitivity analysis, which involves examining how changes in certain variables (in this case, the retail price) affect the outcome (total sales revenue). A sensitivity analysis can be performed using data from a company's information system. Choices A and B are not relevant to the given scenario. Choice C is an unrelated term.

Question 6

An observational approach to discover subtle emotional reactions as consumers encounter products in their "natural use environments" is referred to as:

Accepted Answer

Ethnographic research is an observational approach that involves studying people in their natural use environments to understand their behavior, emotions, and experiences. It is used to uncover subtle emotional reactions and insights that consumers may not be able to express through traditional market research methods such as surveys or focus groups. Data mining involves using computer algorithms to analyze large datasets, while environmental scanning looks at external factors that may impact a business or industry. Focus groups involve bringing together a group of people to discuss a product or service, but this method may not yield authentic reactions as participants may not behave as they would in a natural setting. Therefore, C is the best answer.

Question 7

The stage in the marketing research process in which the marketing researcher must review the analysis and ask: "What does this information tell us?" is called:

Accepted Answer

The Conclusions and Report stage is the final stage of the marketing research process, during which the marketing researcher analyzes the data, draws conclusions, and prepares a report of findings. In this stage, the researcher must review the analysis and ask what the information reveals in order to summarize the key insights and present them clearly to stakeholders. Therefore, option A is the best choice. Option B, Final stage, is too broad and could refer to any final stage in the process, while option C, Exit stage, is not a recognized stage in the marketing research process. Option D, Questioning stage, is also not accurate as it refers to the initial stage when the research problem and questions are developed.

Question 8

Hot Topic is a California-based retailer that opened six Torrid plus-size-only retail stores that cater to women aged 15-30.The retailer used its information system to determine if the average floor space for Torrid should be 2,500 square feet or 1,900 square feet.This would be an example of a(n)_____ analysis.

Accepted Answer

This scenario is an example of sensitivity analysis, which involves the use of information systems to test the impact of various variables on an outcome. In this case, the retailer is using its information system to determine how the size of the Torrid stores affects profitability.

Question 9

Once the research design has been formalized,the process of gathering or collecting data begins.At Pepsi,this may include going on a road trip called the 'Pepsi Taste Tour.' This activity is referred to as:

Accepted Answer

Fieldwork involves collecting data through observations or direct interactions with people, such as conducting surveys or going on a taste tour. Data mining refers to the process of analyzing large sets of data, while environmental scanning involves studying the external environment for potential opportunities or threats. Focus groups are a specific research method involving a small group of individuals who discuss and provide feedback on a particular topic. Therefore, the best choice for Pepsi's taste tour would be fieldwork.

Question 10

According to marketing managers,each of the following is an example of a sales driver EXCEPT:

Accepted Answer

Sales drivers are factors that can increase sales of a product. Special promotions, distribution, and price are all examples of sales drivers as they can directly influence consumer behavior and increase demand for a product. Government regulation, on the other hand, is not a sales driver as it is an external factor that companies cannot control and does not directly impact consumer behavior.

Question 11

Figure: 8-7 
-Referring to Figure 8-7,what is represented by the block identified as 'E'?

Accepted Answer

The answer of Figure: 8-7 
-Referring to Figure 8-7,what is...

Question 12

When a marketing manager begins asking "what if" questions to determine how changes in a factor like price or advertising affect marketing results like sales or profits,she is performing a(n)_____ analysis.

Accepted Answer

Sensitivity analysis involves examining how changes in certain variables can affect the outcome or results of a decision or action. In this case, the marketing manager is exploring the impact of changes in price or advertising on sales or profits, which is an example of sensitivity analysis. Marketing, environmental, and profitability analyses may involve looking at different factors or aspects of a company's marketing efforts, but they do not necessarily involve the same type of "what if" questioning or scenario testing that is characteristic of sensitivity analysis.

Question 13

Figure: 8-7 
-Referring to Figure 8-7,what is represented by the block identified as 'C'?

Accepted Answer

Based on the labels in Figure 8-7, block 'C' represents external data sources. Block 'B' represents the data warehouse, block 'A' represents internal data sources, and block 'D' represents buying queries.

Question 14

A catalogue retailer might determine that customers who purchased silver frames would also have a high probability of buying vintage hat pins.As a result,its sales representatives are instructed to offer a special price on hat pins when a customer places an order for a silver frame.This outcome is likely only possible because the retailer engaged in:

Accepted Answer

The retailer's determination that customers who purchased silver frames would also have a high probability of buying vintage hat pins is an example of data mining, which involves analyzing large datasets to discover patterns and trends. This analysis allows the retailer to target specific customers with tailored promotions, such as offering a special price on hat pins to those who purchase a silver frame. Information extraction, variable analysis, and database management may have also played a role in the retailer's ability to identify these correlations between product purchases, but data mining is the best choice as it encompasses the overall process of identifying insights from data.

Question 15

As a new market researcher,you spend numerous hours every day using Excel to try to understand patterns that are not apparent on first glance.You are engaged in:

Accepted Answer

Data mining involves analyzing large sets of data to uncover patterns or relationships that may not be immediately apparent. This is exactly what the market researcher is doing by spending numerous hours in Excel to understand patterns.

The other options are also related to data analysis, but they don't fit the description as closely as data mining. 
B) Information extraction refers to the process of extracting relevant and useful information from raw data. 
C) Variable analysis involves examining the relationship between different variables in a data set. 
D) Database management involves organizing and maintaining data in a database system.

Question 16

According to the text,what are the four steps in the marketing research process?

Accepted Answer

The answer of According to the text,what are the four...

Question 17

Figure: 8-7 
-Referring to Figure 8-7,what is represented by the block identified as 'A'?

Accepted Answer

The answer of Figure: 8-7 
-Referring to Figure 8-7,what is...

Question 18

Figure: 8-7 
-Referring to Figure 8-7,what is represented by the block identified as 'B'?

Accepted Answer

Block 'B' represents the data warehouse, as it is where all the collected and integrated data from various sources is stored, making it available for analysis and reporting.

Question 19

While conducting market research,you realize that only 40 percent of individuals are likely to re-purchase your product.Afraid this may hurt your chances of promotion,you report to your boss that 'at least 50 percent are likely to re-purchase.' This is a(n)_______ issue in marketing research.

Accepted Answer

Providing inaccurate information to a superior is a violation of ethical standards in marketing research. The researcher's actions are deceptive and potentially harmful to the company. It is important for marketing researchers to maintain integrity and honesty in their reporting to prevent misleading decision-making.

Question 20

Figure: 8-7 
-Referring to Figure 8-7,what is represented by the block identified as 'D'?

Accepted Answer

The answer of Figure: 8-7 
-Referring to Figure 8-7,what is...

Quiz 8: Marketing Research: From Information to Action

Neuromarketing is a new market research tool that measures the brain activity when exposed to different marketing stimuli.Which of the following statements regarding neuromarketing is FALSE?

Consumers that have taken a survey approved by the Marketing Research and Intelligence Association (MRIA) have certain rights.These rights have been developed into what is called the Charter of Respondent Rights.All of the following are rights to the respondent except:

The marketing manager at Popular Electronics must determine a price for a new model of portable CD player.He will use the company's information system to determine how the manufacturer's suggested retail price might affect total sales revenues.This type of analysis is called:

An observational approach to discover subtle emotional reactions as consumers encounter products in their "natural use environments" is referred to as:

The stage in the marketing research process in which the marketing researcher must review the analysis and ask: "What does this information tell us?" is called:

Once the research design has been formalized,the process of gathering or collecting data begins.At Pepsi,this may include going on a road trip called the 'Pepsi Taste Tour.' This activity is referred to as:

According to marketing managers,each of the following is an example of a sales driver EXCEPT:

Figure: 8-7 -Referring to Figure 8-7,what is represented by the block identified as 'E'?

When a marketing manager begins asking "what if" questions to determine how changes in a factor like price or advertising affect marketing results like sales or profits,she is performing a(n) _____ analysis.

Figure: 8-7 -Referring to Figure 8-7,what is represented by the block identified as 'C'?

As a new market researcher,you spend numerous hours every day using Excel to try to understand patterns that are not apparent on first glance.You are engaged in:

According to the text,what are the four steps in the marketing research process?

Figure: 8-7 -Referring to Figure 8-7,what is represented by the block identified as 'A'?

Figure: 8-7 -Referring to Figure 8-7,what is represented by the block identified as 'B'?

While conducting market research,you realize that only 40 percent of individuals are likely to re-purchase your product.Afraid this may hurt your chances of promotion,you report to your boss that 'at least 50 percent are likely to re-purchase.' This is a(n) _______ issue in marketing research.

Figure: 8-7 -Referring to Figure 8-7,what is represented by the block identified as 'D'?