Question 1

Palmer Inc.recently changed its promotional strategies for marketing the products.The marketing team at Palmer has been asked to evaluate the target market and the marketing mix elements to find ways to improve the effectiveness of the marketing strategies.Since the firm already knows the purpose of its research,the next step in the marketing research process is to:

Accepted Answer

The answer of Palmer Inc.recently changed its promotional strategies for...

Question 2

After defining the problem and conducting an exploratory investigation,the next step in the marketing research process is to:

Accepted Answer

The answer of After defining the problem and conducting an...

Question 3

Kelsey has to design a research study to assess the impact of the Internet and mobile applications on work efficiency among all employees of her company.This study will help Kelsey's marketing team decide whether to promote new work tools via mobile applications.She uses a simple random sampling technique to identify her research participants.Kelsey uses a computer software program to randomize the names of the 500 employees of the company and selects 300 to participate in the study.Over the course of one month,study participants are asked to complete a concise questionnaire with five questions followed by a personal interview with a company executive. Which of the following is a drawback of this research design? ​

Accepted Answer

The study lacks confidentiality because the participants are asked to complete a questionnaire followed by a personal interview with a company executive. This may lead to concerns about the privacy of their responses and may potentially influence their answers.

Question 4

It can be said that all marketing and marketing strategies begin with marketing research.There is a strong positive correlation between the quality of a firm's marketing research and the success of the firm's marketing strategies.Poor marketing research leads to poorly executed and poorly performing marketing strategies.On the other hand,quality marketing research facilitates a firm's ability to select the best marketing strategies for a given situation. ​
Marketers understand that marketing research is important because​

Accepted Answer

Marketing research helps the firm understand the market and consumer needs and preferences, which in turn helps them select the appropriate marketing mix (product, price, promotion, and place/distribution). It does not guarantee success or substitute for a SWOT analysis, but it does contribute to the firm's ability to meet market expectations and evaluate sales force performance indirectly.

Question 5

What is the biggest challenge in using big data?​

Accepted Answer

The biggest challenge in using big data is the ability to manage and analyze all the gathered information. Big data involves enormous amounts of complex data which requires specialized tools and techniques to process and extract meaningful insights. Without the ability to effectively manage and analyze the data, the potential benefits of big data cannot be fully realized. The other options listed do not adequately address the main challenge of using big data.

Question 6

A(n)_____ takes a marketing information system a step further and allows managers to explore and connect such varying information as the state of the market,consumer behavior,sales forecasts,competitors' actions,and environmental changes.

Accepted Answer

A marketing decision support system (MDSS) goes beyond simple data storage and retrieval functions to provide managers with information that can help them make more informed decisions. This can include market intelligence, sales forecasts, and other types of information that are critical to making strategic decisions in the marketing arena.

Question 7

In the context of the sampling process,the universe is also known as the _____.

Accepted Answer

In the sampling process, the universe refers to the entire group of individuals or objects that the researcher wants to study. This group is also known as the population. Option A (stratified group) refers to a subgroup within the population that shares similar characteristics. Option C (cluster) refers to a group of individuals or objects that are located close to each other. Option D (quota) refers to a predetermined number of individuals or objects that need to be included in the sample based on certain characteristics. Therefore, the best choice is option B (population).

Question 8

A(n)_____ is a probability sample in which every individual in the relevant universe has an equal opportunity of being selected.

Accepted Answer

A simple random sample is the only option listed that ensures every individual in the relevant universe has an equal opportunity of being selected, making it the best choice. An accidental sample is based on chance encounters, a convenience sample is based on availability and accessibility, and a quota sample is based on predetermined quotas for certain characteristics, none of which guarantee equal selection probability for all individuals in the relevant universe.

Question 9

What is the sum total of information related to a firm's markets,which a firm gathers to better understand its customers?

Accepted Answer

The answer of What is the sum total of information...

Question 10

What has significantly changed the complexion of marketing research over the past few decades?

Accepted Answer

Computer technology has revolutionized marketing research by making it easier to collect and analyze data, allowing for more accurate and efficient research methods. This has led to the development of new techniques like big data analytics and social media monitoring, as well as increased reliance on online surveys and other digital data collection methods. Security concerns, global conflicts, and fuel prices may have some impact on marketing research, but they are not the primary drivers of change in the field.

Question 11

​The head of sales at a publishing firm is seeking better information to make informed marketing decisions.He already gets data about the company's daily flow of business; now he needs tools that will enable him to use the raw numbers in developing models and graphs.He is looking for a _________system.

Accepted Answer

The head of sales is specifically looking for tools to develop models and graphs using the existing data. This requirement falls under the domain of Marketing Decision Support System (MDSS), which helps in decision-making by processing raw data into models and reports that can aid in making informed decisions. Other options such as Marketing Information System (MIS), VALS, Marketing Intelligence, and Big Data may provide relevant information but do not offer the specific tools required for modeling and graphing.

Question 12

A consumer goods company involved in marketing research is trying to obtain information about trade publications that conduct and publish industry-specific research.Which of the following data sources can provide the relevant information to the company?​

Accepted Answer

Ulrich's Periodicals Directory provides information about trade publications and their subjects, so it would be the best choice for the company seeking information about trade publications. The other options do not provide relevant information for this particular research question.

Question 13

Jake is determining which customers should be included in a study sample.According to this information,Jake is in which stage of the marketing research process?

Accepted Answer

Creating a research design involves deciding on the methods and procedures for collecting and analyzing data, including determining the study sample.

Question 14

Kate believes the reason the sales of one of her company's products has fallen is due to a price increase.She cites sales from the previous year to the same customers as evidence of declining sales.Kate is:

Accepted Answer

Kate is formulating a hypothesis by suggesting that the decline in sales is due to a price increase, which is a testable statement that can be investigated further.

Question 15

Whether conducted online or through the mail,what is the most important aspect of a marketing research survey?

Accepted Answer

The most important aspect of a marketing research survey is designing one that yields information marketers can use to make decisions. The survey must be carefully designed with clear and concise questions that are relevant to the research objectives. The information collected should help the organization in making informed decisions related to product development, pricing, promotion, and distribution.

Question 16

Paul Simmons owns a food distribution business and employs approximately 80 people in a variety of positions including executive management,administrative support personnel,sales,distribution,and marketing.He's very interested in maintaining a positive work culture and aspires to being one of the best places to work in his region.He recently hired a marketing consulting firm to complete an employee satisfaction study for him to gain insight into how his workers view their job,benefits,supervisors,and other important elements such as compensation and benefits.What type of data best describes this project?​

Accepted Answer

Primary data is data that is collected directly from the source, in this case, the employees of Paul Simmons' food distribution business. The marketing consulting firm will be conducting surveys, interviews or focus groups to gather this information directly from employees, making it primary data. Secondary data would be information that is already available from other sources, such as industry reports or published studies, and would not be as useful for gaining insight into the specific concerns and issues of Simmons' workforce. Syndicated data refers to data that is available for purchase from third-party providers, which would not be relevant in this case. Government data would be data collected or generated by a government entity, which would also be irrelevant to Paul Simmons' employee satisfaction study.

Question 17

Which of the following terms refers to the process of collecting and using information for marketing decision making?

Accepted Answer

Marketing research is the process of gathering and analyzing information about consumers, competitors, and the market environment to help make informed marketing decisions. Market engineering refers to the use of mathematical models and analytical methods to engineer or design markets. Market capitalization is a measure of the value of a company based on the number of its outstanding shares and its current stock price. Marketing sampling is a technique used to gather data from a subset of a larger population for research purposes.

Question 18

A(n)_____ sample is a nonprobability sample selected from among readily available respondents.

Accepted Answer

Convenience sampling involves selecting samples based on their availability and ease of access. This sampling method is often used in situations where it is difficult or impossible to identify and select a representative sample, such as in research conducted at events or in public spaces. Quota sampling involves selecting a sample based on predetermined quotas, while stratified sampling involves dividing the population into subgroups and selecting samples from each subgroup. Simple random sampling involves randomly selecting samples from a population, giving each member of the population an equal chance of being selected.

Question 19

A probability sample constructed so that randomly selected subsamples of different groups are represented in the total sample is known as a(n)_____ sample.

Accepted Answer

Stratified sampling involves dividing the population into subgroups based on certain characteristics (such as age, gender, income, etc.) and then randomly selecting samples from each subgroup. This ensures that the sample includes representation from all subgroups, which can provide more accurate information about the overall population. Convenience sampling (B) involves sampling individuals who are conveniently available, which may not be representative of the population. Exclusive sampling (C) and quota sampling (D) are not commonly used sampling techniques.

Question 20

Julia is developing new promotional strategies for the services offered by her firm and is focusing on finding information about her firm's competitors.She is looking through published sources,as well as reviewing her competitors' advertising.According to this information,Julia is gathering _____.

Accepted Answer

Julia is gathering information about her firm's competitors, which is known as competitive intelligence. This includes reviewing advertising and published sources to understand the strategies and tactics used by competitors.

Quiz 10: Marketing Research in the Era of Big Data

After defining the problem and conducting an exploratory investigation,the next step in the marketing research process is to:

What is the biggest challenge in using big data?

A(n) _____ takes a marketing information system a step further and allows managers to explore and connect such varying information as the state of the market,consumer behavior,sales forecasts,competitors' actions,and environmental changes.

In the context of the sampling process,the universe is also known as the _____.

A(n) _____ is a probability sample in which every individual in the relevant universe has an equal opportunity of being selected.

What is the sum total of information related to a firm's markets,which a firm gathers to better understand its customers?

What has significantly changed the complexion of marketing research over the past few decades?

A consumer goods company involved in marketing research is trying to obtain information about trade publications that conduct and publish industry-specific research.Which of the following data sources can provide the relevant information to the company?

Jake is determining which customers should be included in a study sample.According to this information,Jake is in which stage of the marketing research process?

Kate believes the reason the sales of one of her company's products has fallen is due to a price increase.She cites sales from the previous year to the same customers as evidence of declining sales.Kate is:

Whether conducted online or through the mail,what is the most important aspect of a marketing research survey?

Which of the following terms refers to the process of collecting and using information for marketing decision making?

A(n) _____ sample is a nonprobability sample selected from among readily available respondents.

A probability sample constructed so that randomly selected subsamples of different groups are represented in the total sample is known as a(n) _____ sample.

Julia is developing new promotional strategies for the services offered by her firm and is focusing on finding information about her firm's competitors.She is looking through published sources,as well as reviewing her competitors' advertising.According to this information,Julia is gathering _____.

Quiz 10: Marketing Research in the Era of Big Data

After defining the problem and conducting an exploratory investigation,the next step in the marketing research process is to:

What is the biggest challenge in using big data?​

A(n) _____ takes a marketing information system a step further and allows managers to explore and connect such varying information as the state of the market,consumer behavior,sales forecasts,competitors' actions,and environmental changes.

In the context of the sampling process,the universe is also known as the _____.

A(n) _____ is a probability sample in which every individual in the relevant universe has an equal opportunity of being selected.

What is the sum total of information related to a firm's markets,which a firm gathers to better understand its customers?

What has significantly changed the complexion of marketing research over the past few decades?

A consumer goods company involved in marketing research is trying to obtain information about trade publications that conduct and publish industry-specific research.Which of the following data sources can provide the relevant information to the company?​

Jake is determining which customers should be included in a study sample.According to this information,Jake is in which stage of the marketing research process?

Kate believes the reason the sales of one of her company's products has fallen is due to a price increase.She cites sales from the previous year to the same customers as evidence of declining sales.Kate is:

Whether conducted online or through the mail,what is the most important aspect of a marketing research survey?

Which of the following terms refers to the process of collecting and using information for marketing decision making?

A(n) _____ sample is a nonprobability sample selected from among readily available respondents.

A probability sample constructed so that randomly selected subsamples of different groups are represented in the total sample is known as a(n) _____ sample.

Julia is developing new promotional strategies for the services offered by her firm and is focusing on finding information about her firm's competitors.She is looking through published sources,as well as reviewing her competitors' advertising.According to this information,Julia is gathering _____.

What is the biggest challenge in using big data?

A consumer goods company involved in marketing research is trying to obtain information about trade publications that conduct and publish industry-specific research.Which of the following data sources can provide the relevant information to the company?