Marketing Research exam 1 Chapter 1-7

What is the primary purpose of marketing research?

Gathering and interpreting data

When utilizing secondary data for measuring individual income, gross sales, and profits, what challenges may be encountered?

Secondary data may be outdated

What is the primary purpose of research conducted by advertising agencies?

To measure advertising effectiveness

Which of the following best describes the concept of “normal thinking” in the context of long-time managers?

It represents the routine and habitual thinking patterns of managers in a stable business environment

How does Apple leverage a 360-degree view of customers’ purchasing patterns to provide personalized messages?

By linking data from different context to form a holistic view

In a hotel management system that collects and responds to guest reviews from social media and travel sites, how does addressing negative reviews promptly contribute to the fifth V of big data?

By increasing data velocity

In a single day, the popular social media platform SocialLink records a massive amount of user activity. It has been estimated that every 60 seconds, 136,000 photos are uploaded, 293,000 statuses are updated, 510,000 comments are posted, and 4 million posts are liked. In the context of this platform, which V of big data can be applied considering the massive amount of data recorded in a single day?

Volume

As a researcher at InfoQuest Analytics, a data analysis firm, which step in the process of searching published sources of secondary data involves reaching out to subject matter experts at InfoQuest Analytics?

Identify authorities in the subject matter and consult with them

A well-stated decision problem

does all of these

While a goal of the research process is to minimize total error, even the best projects contain error of one kind or another. At which stage can error enter the research process?

any stage

Which of the following is NOT an example of internal secondary data?

U.S. Department of Commerce reports

Atul Company collects sales data from retailers’ systems where scanning is available. What type of data can Atul collect in this context?

Sales data (units sold, price)

A document that describes, as specifically as possible, the nature of the problem for which research is sought and that asks providers to offer proposals is known as a

request for proposal

After working through the first two steps of the process of problem definition, the researcher should be in a position to state the manager’s

decision problem

The study of selected examples of the phenomenon about which insights are needed is

case analysis

Insightful Research Solutions, a research company, is preparing to gather primary data for a market research study. In this context, which form would be the most appropriate and commonly used for conducting surveys?

Questionnaire

The analysis technique to consider when searching for nonlinear patterns in data is

neural networks

Many firms have the position of CIO on their organization charts. The primary role of the person filling this position is to

run the company’s information and computer systems like a business

What is the primary purpose of research conducted by advertising agencies?

To measure advertising effectiveness

One of the most important roles for the marketing function within any organization is

to adapt to market trends and consumer preferences