We are guarantee that all provided answers is correct.
'scenario planning' can be used to draw conclusions about the future state of a market. which of the following best characterizes this approach?
Comparison with past examples to predict likely outcomes 0.0%
Considering multiple possible situations so that the organization can respond to a range of eventualities 100.0%
Concentrating on the highest-probability outcome so a detailed contingency plan is in place 0.0%
Conducting computerized simulations to model future situations 0.0%
50 people are asked to respond to a question with the answers yes/no/don't know on two occasions. on the first occasion, the responses were 15/25/10 and on the second 18/26/6. what is the change i...
3% 0.0%
6% 66.0%
9% 0.0%
Impossible to tell 33.0%
a pest analysis can be used to identify the external factors affecting a market. what does the 'p' of pest stand for?
Product 0.0%
Promotion 0.0%
Political 100.0%
Pricing 0.0%
because probabilistic predictions are not always accurate, market researchers may generate a representative sample of the possible future states. what is this forecasting approach known as?
Multiple forecasting 0.0%
Conjoint forecasting 100.0%
Ensemble forecasting 0.0%
Combined forecasting 0.0%
before which of the following decisions would it be least sensible for a company to undertake market analysis?
Whether to expand the workforce 0.0%
Whether to purchase a new plant 100.0%
How much to pay to the staff 0.0%
How much raw material to buy 0.0%
companies may be forced to remain in an unprofitable market because they have, for example, invested heavily in infrastructure. what are these factors known as?
Golden handcuffs 0.0%
Barriers to exit 0.0%
Escape clauses 0.0%
Transfer costs 100.0%
competing brands can be placed on a graph to illustrate their market positioning and thereby identify potential niches. what is the term for this analytical technique?
Brand analysis 100.0%
Force-field analysis 0.0%
Product placement 0.0%
Perceptual mapping 0.0%
for what purpose is the 'schmidt-hunter' technique of meta-analysis used?
To determine the reliability of data. 100.0%
To combine the results of multiple studies. 0.0%
To determine the validity of data. 0.0%
To identify the optimal target market for a product. 0.0%
forecasting is made difficult by the fact that tiny initial variations can have significant long-term effects. what is this phenomenon known as?
Elephant effect 0.0%
Butterfly effect 100.0%
Hummingbird effect 0.0%
Grasshopper effect 0.0%
how many levels are usually there on a likert scale?
8-9 0.0%
6-7 0.0%
5-7 100.0%
2-3 0.0%
if 25% of the respondents reported that they would buy product a and 48% reported they would buy product b, how many respondents would buy both?
12% 0.0%
23% 0.0%
36.5% 0.0%
Impossible to tell 100.0%
if a company commissioned market research to look at the potential effect of changing an attribute of a product (e.g. its colour), what specific type of market research would it be?
Causal 50.0%
Observational 0.0%
Secondary 0.0%
Qualitative 50.0%
if the following responses were received regarding a statement in a survey, what is the percentage of those who opposed the statement? strongly agree: 86 agree: 212 neither agree nor disagree: 127...
5% 50.0%
15% 50.0%
20% 0.0%
Impossible to tell 0.0%
in which of the following pieces of information would a mystery shopper not be fundamentally interested?
Timeliness of response 0.0%
Technical specifications of a product 50.0%
Staff customer-service skills 50.0%
Levels of hygiene 0.0%
it is important that surveys actually measure what they are intended to. which of the following terms describes this consideration?
Validity 50.0%
Reliability 50.0%
Significance 0.0%
Generalizability 0.0%
market research can be used to characterize a particular market. which of the following characterizes a 'perfect' market?
High barriers to entry, many sellers 0.0%
High barriers to entry, few sellers 0.0%
Low barriers to entry, few sellers 50.0%
Low barriers to entry, many sellers 50.0%
to what end do market researchers use 'choice modeling'?
To determine the best wording of questions in surveys 0.0%
To make predictions about human decision making behavior 100.0%
To test possible marketing material on consumers 0.0%
To optimize product placement 0.0%
to what end is 'conjoint analysis' used?
To assess the relative importance of different product features 100.0%
To calculate the likely impact of external factors on demand 0.0%
To determine the most effective marketing medium for a product 0.0%
To compare a product with that of a competitor 0.0%
what does a correlation of '-1' between two variables indicate?
That there is a slight negative correlation between the variables. 50.0%
That there is no correlation between the variables. 0.0%
That there is a perfect negative correlation between the variables. 50.0%
That the variables are independent. 0.0%
what does it mean to say that a test is "significant at the 2% level"?
That 2% of the respondents agreed with the assertion. 50.0%
That 98% of the respondents agreed with the assertion. 0.0%
That 52% of the respondents agreed with the assertion. 0.0%
That there is a 2% chance of a false-positive result. 50.0%
what does the 'dirichlet model' seek to describe?
The product life-cycle 0.0%
The relationship between marketing and sales 50.0%
The effect of elasticity of demand on revenue 0.0%
Brand loyalty and repeat purchases 50.0%
what is meant by the expression 'type ii error'?
An error caused by bias in responses 0.0%
An error caused by non-representative character of a sample 0.0%
The rejection of a true hypothesis 100.0%
An error caused by too small a size of the sample to draw a meaningful conclusion 0.0%
what is meant by the term 'hypothesis'?
A situation that is not real 50.0%
An assertion to be tested 50.0%
An option in a multiple-choice question 0.0%
A sub-group of respondents 0.0%
what is the 'fourt-woodlock' model used to make predictions?
The sales breakdown of a product by different age groups 0.0%
Product sales, based on the number of trial purchases converted into repeat purchases 100.0%
Seasonal variation in demand for a product 0.0%
Sales volumes at each stage of the product life-cycle 0.0%
what is the 'interquartile range' of the following data: 10, 6, 12, 8, 2, 6, 4?
4 0.0%
4.5 0.0%
6 50.0%
Impossible to tell 50.0%
what is the 'mean' of the following data: 3, 11, 5, 6, 7, 5, 6, 5?
5 0.0%
5.5 0.0%
6 50.0%
Impossible to tell 50.0%
what is the 'median' value of the following data: 1.5, 5, 3.5, 2, 4, 2.5, 1.5, 3?
2.5 0.0%
2.75 100.0%
2.875 0.0%
Impossible to tell 0.0%
what is the 'modal' value of the following: 2, 2, 2, 3, 3, 4, 5, 5?
2 100.0%
3 0.0%
3.25 0.0%
Impossible to tell 0.0%
what is the 'range' of the following data: 1, 1, 2, 2, 2, 3, 3, 4?
2.5 0.0%
3 100.0%
8 0.0%
Impossible to tell 0.0%
what is the name for the test that assesses whether the difference between the mean score for a sample and that of the population as a whole is 'statistically significant'?
W-test 0.0%
X-test 0.0%
Y-test 0.0%
Z-test 100.0%
what is the name given to the effect whereby people carry out an activity differently if the management is taking an interest in or monitoring them?
Eddington effect 0.0%
Fowlds effect 0.0%
Hawthorne effect 100.0%
Norton effect 0.0%
what is the name of the forecasting method whereby a panel of independent experts answer questionnaires in two or more rounds in order to converge on the correct answer?
The Delphi method 100.0%
The Athens method 0.0%
The Apollo method 0.0%
The Oracle method 0.0%
what sub-set of a set of data is covered by the 'box' element of a box-and-whisker diagram (or 'box plot')?
The first and second quartiles 0.0%
The second and third quartiles 50.0%
The third and fourth quartiles 50.0%
The first and fourth quartiles 0.0%
what type of measure would be gained by asking consumers to choose which company from a list was the sponsor of an advertisement?
Unaided awareness 50.0%
Aided awareness 0.0%
Recognition 0.0%
Preference 50.0%
which of the following are reasons for a company undertaking 'price elasticity analysis'? i)determining the types of people who buy a product ii)identifying 'price points' in the market for a prod...
i and ii 0.0%
i and iii 0.0%
ii and iii 50.0%
All of the above 50.0%
which of the following best characterizes face-to-face surveys relative to other types of surveys?
Low response rate, low cost 0.0%
Low response rate, high cost 0.0%
High response rate, low cost 0.0%
High response rate, high cost 100.0%
which of the following best defines the term 'market segmentation'?
The grouping of consumers on the basis of similar needs 100.0%
The division of staff into sales teams along geographical lines 0.0%
The categorization of people by the volume of consumption 0.0%
The preparation of the marketing campaign for the target market 0.0%
which of the following best describes 'secondary' market research?
Research that is designed to corroborate previous research 50.0%
Market research that relates to other companies rather than end consumers 0.0%
The collation of data that was previously gathered for different pieces of research 50.0%
Research based on data that relates to consumers' previous habits rather than their future intentions 0.0%
which of the following best describes 'syndicated' market research?
Research based on data generated to meet a specific client's requirements 0.0%
Research based on data gathered in response to a national Government's requirements 0.0%
Research that is conducted to be sold to multiple clients 100.0%
Research outsourced by an organization to a dedicated market-research company 0.0%
which of the following best describes the market research related term 'sugging'?
Seeking funds by pretending to be a research organization 0.0%
Manipulating statistics to produce a favorable result 0.0%
Exploiting market research conducted by other organizations 0.0%
Using market research as a cover for generating business 100.0%
which of the following best describes the phenomenon of 'optimism bias'?
The tendency to assume that things will work out well 100.0%
The tendency to assume that things will work out badly 0.0%
The overestimation of low-probability negative outcomes 0.0%
The underestimation of low-probability positive outcomes 0.0%
which of the following best describes the purpose of 'ad tracking'?
To calculate the cost of a marketing campaign 0.0%
Advanced engagement with consumers to confirm that an advertisement will be popular 0.0%
To verify that the design process for an advertisement follows the required steps 0.0%
To check the effectiveness of marketing activities 100.0%
which of the following best describes the technique of 'a/b testing' (or 'split testing')?
Using multiple versions of advertising materials to determine which is most effective 50.0%
Asking consumers to compare two products in a blind test 0.0%
Testing a product on two distinct groups of consumers 0.0%
Seeking feedback from the same consumers twice with a set interval between 50.0%
which of the following conclusions should be drawn from the voting phenomenon commonly known as the 'bradley effect' (or 'wilder effect')?
People's behavior does not necessarily follow their stated intentions. 100.0%
People do not consume as much of a product as they say they will. 0.0%
People are, ultimately, less concerned about ethical issues than financial ones. 0.0%
People will generally see through false claims. 0.0%
which of the following does not feature in porter's 'five forces analysis'?
Bargaining power of the suppliers 0.0%
Bargaining power of the customers 0.0%
Threat of international competition 100.0%
Competitive rivalry within an industry 0.0%
which of the following goals is most commonly associated with the use of 'projective' techniques in market research?
To identify the target market for a product 0.0%
To identify the best mediums in which to advertise a product 0.0%
To identify how to increase market share 0.0%
To identify the feelings associated with a brand 100.0%
which of the following is a statistical measure used to calculate how widely-spread a set of data is?
Standard deviation 100.0%
Correlation 0.0%
Regression analysis 0.0%
Median 0.0%
which of the following is an example of a 'closed' question?
"Why do you get up early in the morning?" 0.0%
"Who is your favorite baseball player?" 0.0%
"When shall we go to the restaurant?" 0.0%
"Do you like Mozart?" 100.0%
which of the following is not a characteristic of 'covert observational' market research?
The activity is controlled and, therefore, yields consistent results. 0.0%
The subjects' approval need not be sought. 100.0%
Results can be analyzed after the event. 0.0%
Behavior is not affected by the researcher. 0.0%
which of the following is not a component of the 'marketing research mix'?
Purpose 0.0%
Population 0.0%
Product 100.0%
Publication 0.0%
which of the following is not a function performed by the 'management information' system?
Data gathering and data processing 0.0%
The formulation of hypotheses 100.0%
The dissemination of information to marketing managers 0.0%
Storage and retention of data 0.0%
which of the following is not a problem associated with postal surveys?
Follow-up questions cannot be asked. 0.0%
Respondents do not get time to consider responses. 0.0%
Response rate is low. 0.0%
Collating data is time-consuming. 100.0%
which of the following is not an 'experimental' form of market research?
Traffic audit 100.0%
Pilot roll-out 0.0%
Blind test 0.0%
Extended user test 0.0%
which of the following is not an example of 'observational' market research?
The use of electronic checkout scanners to record purchase behavior 0.0%
Monitoring which television channel is being watched 0.0%
Analyzing people's web-browsing history 0.0%
Using a focus group 100.0%
which of the following is not typically a qualitative method of market research?
Using an on-line research community 0.0%
Using a mystery shopper 0.0%
Using a focus group 100.0%
A survey using the Likert scale 0.0%
which of the following is true of a market with a 'zero-profit condition'?
New companies are unlikely to enter because profit margins are low. 0.0%
Only not-for-profit organizations are allowed. 0.0%
New companies can easily enter the market, preventing those in the market from making high profits. 100.0%
New entrants will make a profit only after having been several years in the market. 0.0%
which of the following is/are problems associated with surveys as a method of market research? i)they cannot access a large sample size. ii)there is potential for response bias.
Both (i) and (ii) are true. 100.0%
Only (i) is true. 0.0%
Only (ii) is true. 0.0%
Neither is true. 0.0%
which of the following is/are typical 'barriers to entry'? i)existing contracts held by the company ii)redundancy costs iii)equipment that cannot be sold or reconfigured
None of the above 100.0%
i only 0.0%
ii only 0.0%
iii only 0.0%
which of the following is/are typical problems associated with 'observational' market research? i) it increases the potential for bias. ii) it reveals little about motivation. iii) it relies on th...
None of the above 0.0%
i only 0.0%
ii only 0.0%
iii only 100.0%
which of the following models the process by which new products are taken up amongst a population of potential customers?
Taylor's exchange theorem 0.0%
Harvey's spread algorithm 0.0%
Bass diffusion model 100.0%
Young's flow diagram 0.0%
which of the following must be true for a market that is 'price elastic'?
A price cut causes total revenue to decrease. 100.0%
A price increase causes total revenue to decrease. 0.0%
A price cut causes the number of units sold to increase. 0.0%
A price increase causes the number of units sold to increase. 0.0%
which of the following problems is caused by 'collinearity' within data?
It exaggerates the potential market. 0.0%
It causes less important factors to have a disproportionate influence on the outcome. 100.0%
It prevents the analysis of pricing-related factors. 0.0%
It makes it impossible to tell which of a number of factors caused a particular behavior. 0.0%
which of the following situations would be least likely to encourage a company to consider re-positioning itself?
A pronounced change in the economic climate 0.0%
A reduction in production costs 100.0%
A sustained fall in sales 0.0%
A large entrant to the market 0.0%
which of the following sources of market-research data would not contribute to a study on a retail company's customer conversion rate?
Monitoring the number of hits on the company web site 0.0%
Counting the number of customers entering the company's stores 100.0%
Sales data from checkouts 0.0%
Using a mystery shopper 0.0%
which of the following statements is/are true of 'choice modeling'? i)it permits the respondents to behave strategically. ii)it compels the respondents to consider compromises between mutually-inc...
Both (i) and (ii) are true. 0.0%
Only (i) is true. 0.0%
Only (ii) is true. 0.0%
Neither is true. 100.0%
which of the following statements is/are true? i) market researchers must be objective. ii) market research comprises analysis and predictions of consumer behavior.
Both (i) and (ii) are true. 100.0%
Only (i) is true. 0.0%
Only (ii) is true. 0.0%
Neither is true. 0.0%
which of the following statements is/are true? i)a 'longitudinal' survey is one where the same set of respondents complete the same survey on two or more occasions. ii)a 'cross-sectional' survey i...
Both (i) and (ii) are true. 0.0%
Only (i) is true. 100.0%
Only (ii) is true. 0.0%
Neither is true. 0.0%
which of the following statements is/are true? i)comparing weighted scores for key industry success factors (e.g. economies of scale) between competitors is known as 'competitor array analysis'. i...
Both (i) and (ii) are true. 100.0%
Only (i) is true. 0.0%
Only (ii) is true. 0.0%
Neither is true. 0.0%
which of the following statements is/are true? i)data can be extrapolated to predict future behavior. ii)a moving average can be used to reduce the impact of anomalies in data.
Both (i) and (ii) are true. 100.0%
Only (i) is true. 0.0%
Only (ii) is true. 0.0%
Neither is true. 0.0%
which of the following statements is/are true? i)small changes in the wording of a survey question can have a significant effect on respondents' answers. ii)if the sample size for a survey is larg...
Both (i) and (ii) are true. 100.0%
Only (i) is true. 0.0%
Only (ii) is true. 0.0%
Neither is true. 0.0%
which of the following statements is/are true? i)the data on which secondary market research is based is unlikely to be tailored precisely to the requirements of the task. ii)secondary market rese...
Both (i) and (ii) are true. 100.0%
Only (i) is true. 0.0%
Only (ii) is true. 0.0%
Neither is true. 0.0%
which of the following statements relating to business-to-business research is/are true? i)personal relationships between the marketer and the respondent are less important. ii)the marketer needs ...
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
which of the following survey questions would be most likely to yield unbiased responses?
"Isn't it a bad idea to raise taxes?" 0.0%
"It's a bad idea to raise taxes, isn't it?" 0.0%
"Lots of people are struggling to make ends meet. Do you think taxes should have been raised?" 0.0%
"What do you think of the decision to raise taxes?" 100.0%
which of the following terms concerns applying statistical methods to the deduction of economic principles?
Causality 0.0%
Econometrics 0.0%
Demographics 0.0%
Predictive analytics 100.0%
which of the following types of companies would be least interested in 'coolhunting' as a form of market research?
A garment/fabric store 0.0%
A supermarket 0.0%
A store specializing in electronic gadgets 0.0%
A record company 100.0%
which of the following types of sampling involves selecting a set number (which need not be the same) of a distinct sub-group (or 'stratum')?
Quota sampling 100.0%
Simple random sampling 0.0%
Systematic sampling 0.0%
Probability sampling 0.0%
which of the following would not be a primary reason for analyzing demographic information collected as part of a survey?
To ensure that the sample was representative 0.0%
To be able to compare the responses of different types of people 0.0%
To check that the researchers had not faked the data 0.0%
To help identify the target audience for a product 100.0%
which two of the following are issues associated with 'benchmarking'? i)it leads to increased production costs. ii)it can be difficult to obtain the necessary data. iii)comparison with market lead...
i and ii only 0.0%
i and iii only 0.0%
ii and iv only 100.0%
iii and iv only 0.0%
which two of the following situations may cause 'response bias'? i)emotive language in a survey question ii)delay between designing a survey and using it iii)using a voluntary-response method that...
i and ii only 50.0%
i and iii only 50.0%
ii and iv only 0.0%
iii and iv only 0.0%
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