MARK Research MidTerm

According to the assigned reading “Backward Market Research” by Alan R. Andreasen, which of the following(s) does the idea of backward marketing research refer to?

​

(a) It is important to determine how research results will be implemented before starting a marketing research study.

(b) Management should ask itself, “what should the final report look like so that we’ll know exactly what moves to make when the marketing research report is in?”

(c) To ensure that marketing research generates actionable insights, communication between management and researchers is crucial.  

(d) All of the above.

D

Suppose Sam is planning to open a new Chinese restaurant in Rice Village. Sam estimates that if there is sufficient demand for the restaurant, the restaurant could generate a net profit of $5 million per year. However, if there is insufficient demand for the restaurant, the restaurant will generate a net loss of $2 million per year. By Sam’s estimation, the “sufficient demand” outcome happens with probability 0.6, while the “insufficient demand” outcome happens with probability 0.4.

 

Without marketing research, what should Sam do? What is the expected profit?

 

(a) Sam should open the restaurant because the expected profit is $3M

(b) Sam should open the restaurant because the expected profit is $2.2M

(c) Sam should open the restaurant because the expected profit is $2M

(d) Sam should NOT open the restaurant because the expected profit is negative

B (expected profit = .6 5M - .4 2M = $2.2M)

Continuing with the setting in Question 2, assume that Sam can conduct marketing research that can tell him whether there will be sufficient demand for the restaurant. What is the value of such marketing research information?

 

(a) No value

(b) $0.8M

(c) $3M

(d) $5M

B (expected profit with info. = .6 5M + .4 0M = $3M; thus, value of information = $3M - $2.2M = $0.8M)

Which of the following statements correctly describe qualitative research in marketing?

 

(1) The goal of qualitative research is to understand, in a broad sense, the reasons and motivations behind consumer behavior

(2) Qualitative research is typically conducted towards the end of a marketing research study.

(3) Qualitative research typically uses much larger sample sizes compared to quantitative research

(4) Focus group is a commonly used qualitative research method

 

(a) 1 and 4 only

(b) 1, 2, and 4 only

(c) 1, 3, and 4 only

(d) 2, 3, and 4 only

A

In the assigned reading “The Girl with the Gun”, how did marketing researchers maximize the insights that they can obtain from the focus group method?  

(a) They run several different focus groups across a large number of cities including Chicago, Atlanta, New York, Los Angeles, and Denver.

(b) They show them a pilot episode of the show Nikita and ask for viewer’s feedback after watching the show.

(c) They asked the lead actress and actors of the show Nikita to meet and discuss with focus group respondents.

(d) They conduct all the focus groups online over zoom to make it more convenient for participants to attend.

 

A

In a survey of Apple products, one of the questions is stated as follows--“Which one is your favorite Apple product (choose one)? Macbook, iPad, iPhone, AppleTV”. This is an example of a(n) _______ scale.

 

​(a) nominal

​(b) ordinal

​(c) interval

​(d) ratio

A

In a survey on the soft drink consumption, one question is stated as follows: “On average, how many cans of soft drink do you consume each week?” The answer to this question will be in the form of a(n)  ___________ variable.

a) nominal

​(b) ordinal

​(c) interval

​(d) ratio

D

Brand ABC conducted a NPS survey with 100 respondents. The distribution of responses are as follows:

• 20% of respondents give a score of 0-6 (“distractors”)

• 40% of respondents give a score of 7-8 (“passives”)

• 40% of respondents give a score of 9-10 (“promoters”)

 

What is the NPS score for Brand ABC?

 

(a) 20

​(b) 30

​(c) 40

​(d) 80

A (40 – 20 = 20)

Suppose that UH conducts a marketing research study to find out (i) how satisfied students are with their dormitories. The school interviewed 400 students who lived in dormitories. In the survey, each student was asked the following questions:

 

“How satisfied are you with your current apartment?”

(1-5 Likert scale; 5: extremely satisfied, 1: extremely dissatisfied)

 

The average rating is 2.3, with a standard deviation of 0.8.

 

Which of the following is the 95% confidence interval for the average satisfaction rating of dormitories?

 

(a) (1.50, 3.10)

​(b) (2.22, 2.38)

​(c) (1.90, 2.70)

​(d) Cannot be determined

B (use the given formulas for “estimating means”)

Suppose that UH conducts a marketing research study to find out how much students are willing to pay for laundry facilities in their apartments.

 

The school interviewed 400 students who lived in dormitories. In the survey, each student was asked the following question:  

 

“Would you be willing to pay a 10% higher rent, if a washer/dryer is included in your apartment?” (yes / no)

 

The result is that 230 out of 400 students indicated that they are willing to pay a 10% higher rent if a washer/dryer is included in the apartment.

 

Which of the followings is the 95% confidence interval for the % of students who are willing to pay a 10% higher rent if a washer/dryer is included in the apartment?

 

(a) (52.7%, 62.3%)

​(b) (56.5%, 58.5%)

​(c) (55.5%, 59.5%)

​(d) Cannot be determined

A (use the given formulas for “estimating proportions”)

UH conducts a study to examine whether undergraduate students or graduate students is more likely to become members of the recreation and wellness center. The main analysis that they should use is:

 

(a) Scatterplot

​(b) Within-subject comparison

​(c) Compare proportions

​(d) Mean and sd analysis

C (undergrad/grad: “nominal” variable; member of rec center (yes/no): “binary outcome”--- to analyze nominal vs. binary outcome, use “compare proportions”)

A cross-tab is a method that analyzes the relationship between a ________ variable and a ______ variable. [1pt]

 

​(a) nominal …. interval

​(b) ordinal …. interval

​(c) nominal … nominal

​(d) interval … interval

C

To conduct univariate analysis for an interval variable, a ___________ should be used.

 

(a) mean & sd analysis

(b) ANOVA analysis

(c) t-test

(d) frequency table

A

In the formal reporting of marketing research results, researchers usually compare the _______ of an analysis to 0.05 to access whether a finding is “statistically significant”.  

 

(a) k-value

(b) p-value

(c) z-value

(d) r-value

B

In the Maritim survey (that we studied in class), the researchers conducted a cross-tab to study whether business and leisure travelers choose the Maritim hotel for different reasons. The results are shown in the tables below.

What is the statistical test here? Is the finding statistically significant?

 

(a) Independent t-test; statistically significant

(b) Chi-square test; not statistically significant

(c) Chi-square test; statistically significant

(d) Independent t-test; not statistically significant

C

A cosmetic is conducting some analysis of its customer base. The analyst splits the data into two groups based on age: (34 or under, and 35 and over), and studies the % of consumers in each age group who enroll into the VIP program.

 

What is the correct statistical test?

​(a) Independent t-test

​(b) Paired t-test

​(c) z-test for proportions

​(d) mean & standard deviation analysis

C (age group: <34 or >35: nominal variable; enroll in VIP program (yes/no): “binary outcome” --- to analyze nominal vs. binary outcome, use “compare proportions”, and hence z-test for proportions)

When producing an attribute-based perceptual map in SPSS, we use factor analysis to cut down the number of dimensions in the data to ______ dimension(s).

​(a) 1

​(b) 2

​(c) 3

​(d) 4

B (a perceptual map can only display 2 dimensions)

According to the perceptual map, which of the following brands is perceived as “most similar” to Yumi?

 

​(a) Great Plains

​(b) Esprit

​(c) Armor-lux

​(d) Derhy X

A

According to the perceptual map, which of the following attributes is perceived as most positive correlated with the attribute “Stylish”?

 

​(a) Good Quality

​(b) Classic

​(c) Easy to Wear

​(d) Affordable

B

According to the perceptual map, which of the following brands is perceived as the least stylish?

(a) Great Plains

​(b) Yumi

​(c) Derhy X

​(d) Espirt

D