mktg research quiz 2

Secondary data

Information that was previously collected by someone else for another purpose rather than the current research problem at hand.

Primary data

Original data collected firsthand by the researcher specifically to address the research objective currently at hand.

Key disadvantages of secondary data

Potential lack of accuracy, poor fit with the current research problem, and outdated or obsolete information.

Internal secondary data

Proprietary information already located within an organization, such as sales invoices, loyalty or CRM records, customer call reports, and warranty registrations.

External secondary data

Published or commercial datasets obtained outside an organization, such as census figures, industry periodicals, scanner data, and syndicated research reports.

Nominal scale

A measurement scale using mutually exclusive categorical labels for identification without any quantitative order, where the mode serves as the primary measure of central tendency.

Ordinal scale

A measurement scale that establishes a ranking or relative order among items without measuring equal distances between ranks, where the median serves as the measure of average.

Interval scale

A quantitative measurement scale characterized by equal intervals between values but lacking an absolute, true zero point, allowing computation of the arithmetic mean.

Ratio scale

A continuous metric scale that includes equal intervals between values and an absolute, non-arbitrary zero point, permitting the comparison of absolute magnitudes.

Cross-tabulation (Crosstabs)

A statistical method used to evaluate relationships between two categorical (nominal or ordinal) variables by comparing observed frequencies and percentages across groups.

Chi-squared test ($\chi^2$)

The statistical test applied to crosstabs to determine whether an observed association between two categorical variables is statistically significant beyond random chance.

Independent samples t-test

A hypothesis test used to compare the means of a continuous dependent variable across exactly two distinct categorical groups.

ANOVA (Analysis of Variance)

A statistical test used to evaluate differences in the means of a continuous dependent variable across three or more categorical groups.

Pearson correlation coefficient ($r$)

A standardized statistic ranging from $-1.00$ to $+1.00$ that measures the strength and linear direction of the association between two continuous numerical variables.

p-value threshold for statistical significance at the 95% confidence level

$p \le 0.05$, meaning there is a 5% or smaller probability that the observed results occurred purely by chance.

Click-through rate (CTR)

The proportion of delivered impressions that convert into website visits, calculated as: $\frac{\text{Clicks}}{\text{Impressions}}$

Transaction conversion rate (TCR)

The proportion of site clicks that result in an actual purchase or booking, calculated as: $\frac{\text{Total Volume of Bookings}}{\text{Clicks}}$

Cost per click (CPC)

The average advertising cost incurred for each click generated, calculated as: $\frac{\text{Total Cost}}{\text{Clicks}}$

Return on ad spend (ROAS)

A measure of search campaign efficiency evaluating net earnings relative to advertising expense, calculated as: $\frac{\text{Net Revenue}}{\text{Total Cost}}$

Booking probability (Take rate)

The overall likelihood that an ad impression leads directly to a completed sale, calculated as: $\text{CTR} \times \text{TCR} = \frac{\text{Total Bookings}}{\text{Impressions}}$