Question 1

Briefly explain the best-known statistical method,trend extrapolation,used by marketers to develop a company's sales forecasts.In your explanation,explain the strengths and weaknesses of using this method.

Accepted Answer

The answer of Briefly explain the best-known statistical method,trend extrapolation,used...

Question 2

The principal ways to collect new or primary data for a marketing study are by watching people and by asking them questions.Give two examples of each method.

Accepted Answer

The answer of The principal ways to collect new or...

Question 3

List the elements of an information technology system used to help answer marketing questions.

Accepted Answer

The answer of List the elements of an information technology...

Question 4

What are some of the methods marketers use to conduct research and solve marketing problems?
 Include at least one specific print source.

Accepted Answer

The answer of What are some of the methods marketers...

Question 5

What are the three actions a marketing manager must take in the final step of the five-step marketing research approach?

Accepted Answer

The answer of What are the three actions a marketing...

Question 6

Briefly explain what a marketing driver is.Give three examples.

Accepted Answer

The answer of Briefly explain what a marketing driver is.Give...

Question 7

Briefly explain the difference between a direct forecast and a lost-horse forecast.

Accepted Answer

The answer of Briefly explain the difference between a direct...

Question 8

How do movie studios use marketing research?

Accepted Answer

The answer of How do movie studios use marketing research?...

Question 9

Explain why measures of success are important to effective decision makers and give an example of one.

Accepted Answer

The answer of Explain why measures of success are important...

Question 10

Why can't a marketing manager's decision making process stop when he or she has chosen the best alternative to solving a problem?

Accepted Answer

The answer of Why can't a marketing manager's decision making...

Question 11

What are the five steps in the marketing research approach?

Accepted Answer

The answer of What are the five steps in the...

Question 12

What is a panel?
 How is it used in marketing research?
 What disadvantages are associated with panels?

Accepted Answer

The answer of What is a panel?
 How is it...

Question 13

What is the difference between a semantic differential scale and a Likert scale?

Accepted Answer

The answer of What is the difference between a semantic...

Question 14

In conducting marketing research on Facebook,Carmex is considering using a marketing metric that measures how active its Facebook audience is with Carmex,such as when consumers post a comment on the Carmex wall or reply to one of the Carmex posts.This metric is called Carmex

Accepted Answer

The marketing metric that measures how active its Facebook audience is with Carmex, such as when consumers post a comment on the Carmex wall or reply to one of the Carmex posts, is called engagement. This refers to the level of interaction and involvement that consumers have with a brand on social media. This information is important for Carmex to measure because it can indicate the level of interest and loyalty that consumers have towards the brand.

Question 15

Good marketing research requires great care especially because of inherent difficulties in asking consumers questions.What are the three basic problems faced by marketing researchers when trying to assess consumers' willingness to buy products or services with which they are not familiar?

Accepted Answer

The answer of Good marketing research requires great care especially...

Question 16

What is data mining and why is it used in marketing research?

Accepted Answer

The answer of What is data mining and why is...

Question 17

What is the basic difference between primary and secondary data,and what are the advantages and disadvantages of each?

Accepted Answer

The answer of What is the basic difference between primary...

Question 18

What is neuromarketing?
 What does it do?
 Why is it important to marketers?

Accepted Answer

The answer of What is neuromarketing?
 What does it do?
...

Question 19

Briefly explain what a marketing experiment is.Include the definitions of dependent and independent variables and give examples of each.

Accepted Answer

The answer of Briefly explain what a marketing experiment is.Include...

Question 20

Marketing information consists of secondary and primary data.Define each of these types of marketing information.Give examples for secondary and primary data.

Accepted Answer

The answer of Marketing information consists of secondary and primary...

Quiz 7: Marketing Research: From Customer Insights to Actions