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TESTBANK MARKETING MANAGEMENT 5TH EDITION BY DAWN IAOBUCCI.TESTBANK TEST BANK MARKETING MANAGEMENT BY IAOBUCCI CHAPTER 15 CHAPTER 15 MARKETING REASEARCH TOOLS.1. Every marketing decision should be based on facts. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 256QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: ComprehensionOTHER: MBA: Foundational SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM2. Marketing information should be gathered every two years in order for a company to be well informed and poised for action. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 256QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:42 PM3. Marketing research should focus solely on the customer. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 257QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM4. Marketing research is quite rigid—there are only a couple of ways to do it. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 258QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: ComprehensionOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:43 PM5. Exploratory studies are used to obtain largescale statistics. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 257QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM6. In the market research process, attempts to answer questions with secondary data should occur after you have already collected your own data. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 257QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM7. It is quicker and cheaper to get primary data compared to secondary data. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 257QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM8. Precision is an advantage of primary data. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 257QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 3:19 AM9. A cluster analysis is used to identify segments, and it determines exactly which segment(s) to target. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 152 Cluster Analysis for SegmentationKEYWORDS: Blooms: ComprehensionOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM10. It would be a waste of money to hire a market researcher to help with cluster analysis. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 152 Cluster Analysis for SegmentationKEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM11. Clustering methods form smaller groups of similar data. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 258QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 152 Cluster Analysis for SegmentationKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 3:47 AM12. Clustering techniques can process no more than two variables at the same time. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 259QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 152 Cluster Analysis for SegmentationKEYWORDS: Blooms: ComprehensionOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 3:53 AM13. Positioning studies are used to get a sense of how customers view a company or brand in the marketplace. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM14. There are two approaches to creating a perceptual map: an attitudebased approach and a demographic approach. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM15. Julia tells her colleague that she would love to see a picture of competing brands with descriptions of attributes and a sense of competitive strengths and weaknesses. Julia is referring to a perceptual map. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM16. In the attributebased approach, the customer makes two kinds of ratings: (1) How does our company rate on a number of attributes? and (2) How important is each of these attributes? a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:45 PM17. Jon is training Lee, a recent graduate who joined the marketing department. Their topic of discussion is multidimensional scaling (MDS), with respect to positioning maps. Jon explains that with MDS, rather than asking customers what is important in a given product or service, MDS simply starts by asking how similar two products or services are for every pair of products or services under consideration in the mapping. Jon’s explanation is consistent with current marketing practices used today. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 261QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Managing Strategy and InnovationDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM18. Perceptual maps are pictures of competing brands as well as attributes. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ComprehensionOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM19. To create a perceptual map based on attributes, customers complete a survey about the selected attributes. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: ConscientiousnessDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 4:18 AM20. Focus groups are typically used as exploratory techniques, meaning the researcher doesn’t quite know yet what questions to put on a survey. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 264QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM21. Because of the size of focus groups, predicting how the marketplace will respond as a function of these groups is a commonly accepted practice in marketing today. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 264QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: EvaluationOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM22. The purpose of a focus groups moderator is keeping the groups conversation going while addressing the items on the clients list. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 4:35 AM23. Moderators are usually paid to interpret a focus group session because they manipulated customers responses. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 4:40 AM24. It is a good idea to follow up focus group, leads with a largerscale survey. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 264QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: EvaluationOTHER: MBA: ConscientiousnessDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:47 PM25. If you participate in a focus group you should expect to be there all day. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM26. Qualitative studies can deliver large sample sizes and some certitude around numbers, while surveys offer a deep understanding of motivation. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:47 PM27. Ingrid was an observer to a focus group discussion. Before her work team discusses conclusions, Ingrid should write down her impressions. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: ApplicationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 4:58 AM28. Conjoint analysis is frequently used in new product design. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: ComprehensionOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM29. Conjoint methods are used frequently in studies of pricing and branding. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: ComprehensionOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM30. Conjoint analyses will help uncover the attributes that are most valued by consumers and provide guidance as to the attribute values to combine for optimal product design. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:47 PM31. A conjoint study is run to understand how consumers make tradeoffs, such as choosing between features and price. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 5:21 AM32. Scanner data originated in retail grocery stores as an inventory management tool and quickly became even more valuable as a marketing tool. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 268QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: EvaluationOTHER: MBA: Managing Strategy and InnovationDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:49 PM33. Scanner data can be linked to your buyer identification number to tie your current purchases to your past buying history. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 268QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: ComprehensionOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 5:31 AM34. Studies conducted in the real world tend to have more internal validity than external validity. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 269QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: AnalysisOTHER: MBA: Managing Strategy and InnovationDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM35. Betty is a product manager for a brand of baby food. She is curious about the impact on the brand if she decides to raise the price five percent. It would be possible for Betty to run a trial, or a field experiment, using scanner data to answer her question. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 269QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: ApplicationOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM36. The analytical techniques used on a big data set like scanner data are very different from the techniques used on small data sets. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 268QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:49 PM37. ROMI stands for referral of multidimensional information. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 269QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: KnowledgeOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM38. Shorter surveys enhance response rates. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 271QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 157 Surveys for Assessing Customer SatisfactionKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 5:50 AM39. Strict ethical policies are followed by marketing researchers, such as keeping responses confidential. a. True b. FalseANSWER: TruePOINTS: 1DIFFICULTY: EasyREFERENCES: Page 271QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG EthicsLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 157 Surveys for Assessing Customer SatisfactionKEYWORDS: Blooms: ComprehensionOTHER: MBA: ConscientiousnessDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8252016 6:12 AM40. Factor analysis and cluster analysis do not complement each other very well. a. True b. FalseANSWER: FalsePOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 272QUESTION TYPE: True FalseHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 157 Surveys for Assessing Customer SatisfactionKEYWORDS: Blooms: EvaluationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 7112016 2:22 PM41. Rafael wants to conduct market research about his brands STP. Which of the following market research tools is the most relevant? a. surveys b. cluster analysis c. scanner data d. conjointANSWER: bPOINTS: 1DIFFICULTY: EasyREFERENCES: Page 257QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: EvaluationOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:50 PM42. Marketing information should be gathered __________ so the company can be in the know and poised for action. a. quarterly b. annually c. constantly d. every 2 yearsANSWER: cPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 256QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:22 PMDATE MODIFIED: 8282016 1:51 PM43. Which is NOT one of the steps in the marketing research process? a. seeking customer relationship management databases b. defining the market research problem c. data collection and analysis d. reporting of the resultsANSWER: aPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 257QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8252016 6:29 AM44. Marketing research is tremendously a. rigid. b. flexible. c. confusing. d. difficult.ANSWER: bPOINTS: 1DIFFICULTY: EasyREFERENCES: Page 258QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Foundational SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:15 PM45. Which of the following is an exploratory study? a. interview b. scanner data c. survey d. experimentANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 257QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM46. Which of the following is a study that is meant to show cause and effect? a. interview b. scanner data c. survey d. experimentANSWER: dPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 257QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM47. A cluster analysis helps identify a. techniques. b. segments. c. prices. d. competition.ANSWER: bPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 258QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 152 Cluster Analysis for SegmentationKEYWORDS: Blooms: ComprehensionOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:16 PM48. Josh is convinced that subgroups exist within his company’s current customer base. Further, he believes that these different groups of customers opt to purchase his company’s brand for different reasons, and he feels this information is critical if he is to effectively target these customers and potential customers like them. Which type of market research analysis should Josh look into conducting in order to address his concerns? a. clustering b. segmenting c. positioning d. customer lifetime valueANSWER: aPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 258QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 152 Cluster Analysis for SegmentationKEYWORDS: Blooms: ApplicationOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM49. __________ are used to understand customer perceptions of brands. a. Clusters b. Ads c. Positioning studies d. Strategic marketersANSWER: cPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Managing Strategy and InnovationDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8252016 7:36 AM50. Which is an approach in creating a perceptual map? a. attributebased b. demographicbased c. focus groupbased d. surveybasedANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Managing Strategy and InnovationDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:53 PM51. In an attributebased approach, a map created from attributes would involve customer a. interviews. b. promotions. c. advertisements. d. surveys.ANSWER: dPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:53 PM52. Gary wants to create a perceptual map for positioning using the attributebased approach. He comes to you for advice as to how he should get started on this. What is the first step you would advise Gary to undertake? a. Determine the specific questions to be used for the two types of ratings: (1) How does our company rate on a number of attributes? (2) How important is each of these attributes? b. Determine how similar pairs of two attributes are. c. Plot the attributes in a twodimensional space. d. Determine the importance of the attributes.ANSWER: aPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:54 PM53. In an attributebased map, customers make two kinds of ratings. Which is NOT a rating that is made? a. How important is each of these attributes? b. How many attributes does our company contain? c. How does our company rate on a number of attributes? d. None are ratings that are asked.ANSWER: bPOINTS: 1DIFFICULTY: EasyREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:54 PM54. With respect to perceptual maps, the method known as MDS stands for a. memory derived scaling. b. multidimensional survey. c. marketing digital survey. d. multidimensional scaling.ANSWER: dPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: KnowledgeOTHER: MBA: Managing Strategy and InnovationDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:20 PM55. Perceptual maps are pictures of which of the following? a. competing brands b. attributes c. competing brands or attributes d. competing brands and attributesANSWER: dPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM56. On an attributebased perceptual map, the higher the mean performance on an attribute translates to how __________ the attribute will be plotted. a. low b. high c. far to the right d. far to the leftANSWER: cPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:55 PM57. On an attributebased perceptual map, how important the attribute is translates to how __________ the point is plotted. a. low b. high c. far to the right d. far to the leftANSWER: bPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 260QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:55 PM58. Rather than asking customers, “What’s important?” MDS starts by asking which of the following questions? a. “How similar are these two brands?” b. “Which brand is better?” c. “Are any of these attributes important at all?” d. “What makes this brand better than others?”ANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 261QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM59. Bob at Bob’s Furniture is looking at a perceptual map about customers’ ideas about his products. The attributes customers care most about are price and comfort. They care less about aesthetics and quality. The attributes in which Bob’s products are doing worst are comfort and quality. They are doing best on price and aesthetics. Which attribute should be Bob’s priority as he tries to improve? a. price b. comfort c. aesthetics d. qualityANSWER: bPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 261QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Managing Strategy and InnovationDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:56 PM60. Bob at Bob’s Furniture is looking at the results of some research about customers’ ideas about his products. He learns that the attributes customers care most about are price and comfort. They care less about aesthetics and quality. The attributes on which Bob’s products are doing worst are comfort and quality. They are doing best on price and aesthetics. What exactly is Bob looking at? a. a conjoint analysis b. a cluster analysis c. a perceptual map based on MDS d. a perceptual map that is attributebasedANSWER: dPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 261QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:56 PM61. You are a customer taking a survey. It lists two brands and asks you to rate how similar they are. What type of survey are you taking? a. a focus group application survey b. a survey based on multidimensional scaling c. a survey based on attributes d. a conjoint analysis surveyANSWER: bPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 261QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: ApplicationOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM62. Focus groups are typically used as a(n) __________ technique. a. descriptive b. random c. exploratory d. quantitativeANSWER: cPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 264QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM63. Typically, a focus group should include __________ customers. a. 2–4 b. 4–6 c. more than 15 d. 8–10ANSWER: dPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 264QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: ComprehensionOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:00 PM64. What is NOT a job of a focus group moderator? a. screen focus group members b. keep the discussion going c. address all items on clients list d. bring out the quieter group membersANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:01 PM65. Sam’s Sandwich Shack recently conducted two focus groups, each with 6 customers and a moderator. Sam believes he gathered enough feedback from these focus groups to revamp his menu and to initiate some changes to the level of service provided by his staff. What would you recommend to Sam? a. Predicting how the marketplace will respond based on focus groups is not a great idea. b. Focus groups are a great predictor of how the marketplace will respond. c. He should conduct more customer focus groups, and then base his decisions on the focus group discussions. d. Focus groups are a waste of time, and provide little value.ANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 264QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: ApplicationOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM66. ABC Products, Inc. wants to kickoff an ethnographic study to learn more about how its customers use and interact with its bestselling product. Ethnographies involve a. focus groups. b. tradeoff evaluations. c. a mix of observation and interviews. d. impressions.ANSWER: cPOINTS: 1DIFFICULTY: EasyREFERENCES: Page 265QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:01 PM67. About how long does a focus group typically last? a. 30 minutes b. 1.5 hours c. 3 hours d. 8 hoursANSWER: bPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: KnowledgeOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM68. Which of the following is NOT typically true about focus group moderators? a. They get paid. b. They are similar to the focus group members if the topic is sensitive. c. They control overbearing group members. d. They set aside a full day to lead the group.ANSWER: dPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8252016 8:54 AM69. What type of statistical analysis must you do in a conjoint study? a. ttest b. ANOVA c. regression d. MANCOVAANSWER: cPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 267QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM70. In a particular conjoint study, the variables “club,” “upgrade” and “fee” are the predictors. Which model properly corresponds to this? a. Rating = b0 + b1 Club + b2 Upgrade + b3 Fee + error b. Rating = b0 + b1 Club × b2 Upgrade × b3 Fee – error c. Rating = (b0 + b1 Club + b2 Upgrade + b3 Fee) error d. Rating = b0 – b1 Club + b2 Upgrade + b3 Fee – errorANSWER: aPOINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 267QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: ApplicationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:02 PM71. Conjoint studies are run to understand how consumers make a. money. b. tradeoffs. c. observations. d. impressions.ANSWER: bPOINTS: 1DIFFICULTY: EasyREFERENCES: Page 265QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of Human Behavior and SocietyDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:27 PM72. What does ROMI stand for? a. return on marketing investment b. referral of multidimensional information c. risk of manipulating investors d. rise of multiple interactionsANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 269QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: KnowledgeOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM73. Scanners began in __________ to help inventory management, but it quickly became obvious that the information obtained was far more valuable. a. drug stores b. grocery stores c. shopping malls d. clothing factoriesANSWER: bPOINTS: 1DIFFICULTY: EasyREFERENCES: Page 268QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: Marketing PlanTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: KnowledgeOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:03 PM74. If you’re not tweaking the environment but constantly monitoring it, then you’re using __________ observation. a. experimental b. naturalistic c. circumstantial d. causalANSWER: bPOINTS: 1DIFFICULTY: EasyREFERENCES: Page 269QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: ComprehensionOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:28 PM75. Experiments have an advantage when it comes to __________ validity. a. primary b. secondary c. external d. internalANSWER: dPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 269QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:29 PM76. Carlos wants to know what will happen if he increases the price of his most popular brand. Which of the following options would you recommend to answer his question? a. cluster analysis b. conjoint c. causal method d. perception mappingANSWER: cPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 269QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: ApplicationOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8252016 9:53 AM77. Field studies are conducted in the real world, so they are strong in __________ validity, but they tend not to be as clean in terms of __________ validity. a. external, internal b. internal, external c. primary, secondary d. secondary, primaryANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 269QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:30 PM78. A survey should contain questions that are a. complex. b. actionable. c. detailed. d. shared with others.ANSWER: bPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 270QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 157 Surveys for Assessing Customer SatisfactionKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 1:31 PM79. __________ examines the strong and weak correlations to identify underlying factors common to the responses. a. Conjoint analysis b. Factor analysis c. Cluster analysis d. MetaanalysisANSWER: bPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 271QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 157 Surveys for Assessing Customer SatisfactionKEYWORDS: Blooms: KnowledgeOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM80. Which of the following industries uses the least B2B marketing research? a. retail b. health care products c. banking d. technologyANSWER: aPOINTS: 1DIFFICULTY: ModerateREFERENCES: Page 263QUESTION TYPE: Multiple ChoiceHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG: AnalyticLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8252016 10:31 AM81. Describe the typical steps in the market research process.ANSWER: The market research process begins with the marketer defining the research problem. Typically, the researcher will attempt to answer hisher questions with secondary data that are available. If such data are not available or do not answer the questions, then a primary data collection approach is designed—typically in the form of a survey. Data are then collected and, analyzed, and the results of the study are communicated via a report, presentation, white paper, etc.POINTS: 1DIFFICULTY: ModerateREFERENCES: Page 257QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 151 Why Is Marketing Research So Important?KEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:05 PM82. Interpret the following cluster analysis data collected by people thinking of starting a nonprofit organization. ANSWER: Two clusters (1 and 3) can be clearly seen in the left plot. These are people who support environmental concerns and people who are concerned that higher ed is so expensive that only the privileged can attend (the other customers don’t care that much about either one). In the middle plot, we can see that cluster 4 is made up of customers who tend to support medical causes and acknowledge the importance of higher ed and even indicate a willingness to help contribute to such a fund. In the right plot, we see that cluster 2 contains those who support the arts and believe that education enhances society.POINTS: 1DIFFICULTY: ModerateREFERENCES: Pages 259–260QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 152 Cluster Analysis for SegmentationKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:06 PM83. Identify and describe the two approaches for creating a perceptual map.ANSWER: The two approaches are attributebased and MDS (multidimensional scaling.) If we want to create a map based on attributes, we have customers complete a survey that asks them to make two kinds of ratings: (1) How does our brand rate on a number of attributes? (2) How important is each of these attributes? MDS is quite different because it simply present pairs of brands and asks, “How similar are these two brands?” for every pair in the set.POINTS: 1DIFFICULTY: ModerateREFERENCES: Pages 260–264QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 153 Perceptual Mapping for PositioningKEYWORDS: Blooms: AnalysisOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:07 PM84. Explain how a focus group works.ANSWER: Focus groups are exploratory, meaning that you’re not ready to put specific questions on a survey. They are usually used for concept testing in the early stages of new product development or when working on ad campaigns. In a focus group, about 8 to 10 consumers discuss your products and your competitors’ products in the contexts of their lives, typically while you watch from behind a twoway mirror. One person is hired to be a “moderator,” and he or she keeps the discussion going, tries to address all the items on the client’s wish list, tries to bring out the quieter group members, tries to control the overbearing group members, and so on. It can help to have the moderator be similar to the focus group participants, especially if there is a sensitive topic involved. The moderator kicks off the group discussion with some warmup exercise, then questions from the client are introduced and the discussion begins. Different topics are introduced along the way, and after 1.5 hours, the group is thanked, dismissed, and paid. As an observer, you take notes and then discuss these with your team as well as the moderator who interpreted the situation, too. These observations can be very helpful, but it is always a good idea to follow up with a largescale survey.POINTS: 1DIFFICULTY: ChallengingREFERENCES: Pages 264–265QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 154 Focus Groups for Concept TestingKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:09 PM85. Explain the purpose of a conjoint study.ANSWER: Conjoint studies are used for questions of pricing, new products, and branding. They help marketers to understand how consumers make tradeoffs. Consumers can’t have everything, of course, because the more “bells and whistles” that are added to a product, the higher the cost gets (which consumers don’t like.) So, knowing this, what do customers really want?POINTS: 1DIFFICULTY: ModerateREFERENCES: Page 265QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM86. An airline is doing a conjoint study to examine what customers would like to see included in its loyalty program. Here are the things it is wondering: Should there be access to an elite club at the large airports (yes or no)? Do the customers value being high priority for upgrades (yes or no)? Should the loyalty program and these benefits be free or available at a fee (e.g., 50 annually)? Explain what the airline can learn from the following figure. ANSWER: The first five columns are data that are constant for every flyer: the design of the new service offerings. The ratings in the last column are the consumer’s judgments. This customer would most prefer to have upgrades for free and club access. The next question would be, if you can’t have all that, what are you willing to give up? If they’d prefer to give up the club access, that tells us they don’t value that feature as much as upgrades and a free program. If they say they’re willing to pay, then that tells us they want the perks (club access and upgrades) and are not as sensitive about price.POINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 267QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 155 Conjoint for Testing AttributesKEYWORDS: Blooms: ApplicationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:10 PM87. Explain what types of information can be obtained through scanner data.ANSWER: Scanner data are an extraordinarily rich data source that allows for the investigation of brand switching and loyalty, price sensitivity analyses, and the conducting of marketing experiments such as evaluating the effectiveness of coupons or instore promotions. It records every purchase made by every person so that researchers can see what happens when variables are manipulated. For example, if a certain group of people buys a lot more of a given product when the price has gone down (and nothing else has remarkably changed), it tells researchers that this is a pricesensitive segment If it is a big enough segment, it may influence future pricing decisions.POINTS: 1DIFFICULTY: ModerateREFERENCES: Pages 268–270QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:11 PM88. Explain the difference between internal and external validity and identify what types of studies have advantages for each one.ANSWER: If a study has internal validity, it means that when we tweak something (while all else is held constant), we can be quite confident in our causal statements: “We did X, so the changes are attributable to X.” Experiments have an advantage on this since we have so much control. On the other hand, external validity means that it’s a little easier to believe that our findings will generalize to the real world. Naturalistic observation has the advantage here since it does indeed happen in the real world.POINTS: 1DIFFICULTY: ModerateREFERENCES: Page 269QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 156 Scanner Data for Pricing and Coupon Experiments and Brand SwitchingKEYWORDS: Blooms: AnalysisOTHER: MBA: Strategic and Systems SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM89. Identify three types of information that can be gathered from customer satisfaction surveys.ANSWER: Three types of information that can be obtained from customer satisfaction surveys include: (1) ratings of the service received; (2) how purchase experiences rate compared to expectations; and (3) repurchase intentions and intentions to generate wordofmouth.POINTS: 1DIFFICULTY: EasyREFERENCES: Page 270QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 157 Surveys for Assessing Customer SatisfactionKEYWORDS: Blooms: AnalysisOTHER: MBA: Knowledge of General Business FunctionsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 7112016 2:23 PM90. Interpret the following factor analysis data collected by researchers planning to start a nonprofit organization to sponsor college students. ANSWER: We see that there are two very high correlations here: 0.93 and 0.91. The 0.93 is between questions 5 and 11. This means that people answered quite similarly on these two questions, so willingness to sponsor a kid is closely tied to the perception that education is important. The 0.91 is between questions 9 and 10 and means that people answered similarly about higher education being expensive and for the privileged, thus indicating that these two issues are closely linked. These researchers, then, could decide that those four questions are really getting at only two factors. This could lead them to consolidate their questions to save time and effort.POINTS: 1DIFFICULTY: ChallengingREFERENCES: Page 271QUESTION TYPE: EssayHAS VARIABLES: FalseNATIONAL STANDARDS: United States BUSPROG CommunicationLOCAL STANDARDS: United States OH Default City DISC: ResearchTOPICS: 157 Surveys for Assessing Customer SatisfactionKEYWORDS: Blooms: ApplicationOTHER: MBA: Operations SkillsDATE CREATED: 7112016 2:23 PMDATE MODIFIED: 8282016 2:13 PM
1 Every marketing decision should be based on facts a True b False ANSWER: True POINTS: DIFFICULTY: Easy REFERENCES: Page 256 QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Marketing Plan TOPICS: 15-1 Why Is Marketing Research So Important? KEYWORDS: Bloom's: Comprehension OTHER: MBA: Foundational Skills DATE CREATED: 7/11/2016 2:22 PM Copyright Cengage Learning Powered by Cognero Page DATE MODIFIED: 7/11/2016 2:22 PM Marketing information should be gathered every two years in order for a company to be well informed and poised for action a True b False ANSWER: False POINTS: DIFFICULTY: Moderate REFERENCES: Page 256 QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15-1 Why Is Marketing Research So Important? Copyright Cengage Learning Powered by Cognero Page KEYWORDS: Bloom's: Analysis OTHER: MBA: Operations Skills DATE CREATED: 7/11/2016 2:22 PM DATE MODIFIED: 8/28/2016 1:42 PM Marketing research should focus solely on the customer a True b False ANSWER: False POINTS: DIFFICULTY: Easy REFERENCES: Page 257 QUESTION TYPE: True / False HAS VARIABLES: False Copyright Cengage Learning Powered by Cognero Page NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15-1 Why Is Marketing Research So Important? KEYWORDS: Bloom's: Analysis OTHER: MBA: Operations Skills DATE CREATED: 7/11/2016 2:22 PM DATE MODIFIED: 7/11/2016 2:22 PM Marketing research is quite rigid—there are only a couple of ways to it a True b False ANSWER: False POINTS: DIFFICULTY: Easy REFERENCES: Page 258 Copyright Cengage Learning Powered by Cognero Page QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15-1 Why Is Marketing Research So Important? KEYWORDS: Bloom's: Comprehension OTHER: MBA: Operations Skills DATE CREATED: 7/11/2016 2:22 PM DATE MODIFIED: 8/28/2016 1:43 PM Exploratory studies are used to obtain large-scale statistics a True b False ANSWER: False POINTS: Copyright Cengage Learning Powered by Cognero Page DIFFICULTY: Moderate REFERENCES: Page 257 QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15-1 Why Is Marketing Research So Important? KEYWORDS: Bloom's: Comprehension OTHER: MBA: Knowledge of General Business Functions DATE CREATED: 7/11/2016 2:22 PM DATE MODIFIED: 7/11/2016 2:22 PM In the market research process, attempts to answer questions with secondary data should occur after you have already collected your own data a True b False Copyright Cengage Learning Powered by Cognero Page ANSWER: False POINTS: DIFFICULTY: Moderate REFERENCES: Page 257 QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15-1 Why Is Marketing Research So Important? KEYWORDS: Bloom's: Analysis OTHER: MBA: Operations Skills DATE CREATED: 7/11/2016 2:22 PM DATE MODIFIED: 7/11/2016 2:22 PM Copyright Cengage Learning Powered by Cognero Page 7 It is quicker and cheaper to get primary data compared to secondary data a True b False ANSWER: False POINTS: DIFFICULTY: Moderate REFERENCES: Page 257 QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15-1 Why Is Marketing Research So Important? KEYWORDS: Bloom's: Comprehension OTHER: MBA: Knowledge of General Business Functions DATE CREATED: 7/11/2016 2:22 PM Copyright Cengage Learning Powered by Cognero Page DATE MODIFIED: 7/11/2016 2:22 PM Precision is an advantage of primary data a True b False ANSWER: True POINTS: DIFFICULTY: Easy REFERENCES: Page 257 QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15-1 Why Is Marketing Research So Important? Copyright Cengage Learning Powered by Cognero Page KEYWORDS: Bloom's: Analysis OTHER: MBA: Knowledge of General Business Functions DATE CREATED: 7/11/2016 2:22 PM DATE MODIFIED: 8/25/2016 3:19 AM A cluster analysis is used to identify segments, and it determines exactly which segment(s) to target a True b False ANSWER: False POINTS: DIFFICULTY: Moderate REFERENCES: Page 260 QUESTION TYPE: True / False HAS VARIABLES: False NATIONAL STANDARDS: United States - BUSPROG Communication Copyright Cengage Learning Powered by Cognero Page 10 LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-1 Why Is Marketing Research So Important? KEYWORDS: Bloom's: Analysis OTHER: MBA: Operations Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 8/28/2016 2:05 PM ED: 82 Interpret the following cluster analysis data collected by people thinking of starting a nonprofit organization Copyright Cengage Learning Powered by Cognero Page 102 ANSWER: Two clusters (1 and 3) can be clearly seen in the left plot These are people who support environmental concerns and people who are concerned that higher ed is so expensive that only the privileged can attend (the other customers don’t care that much about either one) In the middle plot, we can see that cluster is made up of customers who tend to support medical causes and acknowledge the importance of higher ed and even indicate a willingness to help contribute to such a fund In the right plot, we see that cluster contains those who support the arts and believe that education enhances society POINTS: DIFFICULTY: Moderate REFERENCES Pages 259–260 : QUESTION TY Essay PE: Copyright Cengage Learning Powered by Cognero Page 103 HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-2 Cluster Analysis for Segmentation KEYWORDS: Bloom's: Analysis OTHER: MBA: Operations Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 8/28/2016 2:06 PM ED: 83 Identify and describe the two approaches for creating a perceptual map ANSWER: The two approaches are attribute-based and MDS (multidimensional scaling.) If we want to create a map based on attributes, we have customers complete a survey that asks them to make two kinds of ratings: (1) How does our brand rate on a number of attributes? (2) How important is each of these attributes? MDS is quite different because it simply present pairs of brands and asks, “How similar are these two brands?” for every pair in the set POINTS: Copyright Cengage Learning Powered by Cognero Page 104 DIFFICULTY: Moderate REFERENCES Pages 260–264 : QUESTION TY Essay PE: HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-3 Perceptual Mapping for Positioning KEYWORDS: Bloom's: Analysis OTHER: MBA: Operations Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 8/28/2016 2:07 PM ED: Copyright Cengage Learning Powered by Cognero Page 105 84 Explain how a focus group works ANSWER: Focus groups are exploratory, meaning that you’re not ready to put specific questions on a survey They are usually used for concept testing in the early stages of new product development or when working on ad campaigns In a focus group, about to 10 consumers discuss your products and your competitors’ products in the contexts of their lives, typically while you watch from behind a two-way mirror One person is hired to be a “moderator,” and he or she keeps the discussion going, tries to address all the items on the client’s wish list, tries to bring out the quieter group members, tries to control the overbearing group members, and so on It can help to have the moderator be similar to the focus group participants, especially if there is a sensitive topic involved The moderator kicks off the group discussion with some warm-up exercise, then questions from the client are introduced and the discussion begins Different topics are introduced along the way, and after 1.5 hours, the group is thanked, dismissed, and paid As an observer, you take notes and then discuss these with your team as well as the moderator who interpreted the situation, too These observations can be very helpful, but it is always a good idea to follow up with a large-scale survey POINTS: DIFFICULTY: Challenging REFERENCES Pages 264–265 : QUESTION TY Essay PE: HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: Copyright Cengage Learning Powered by Cognero Page 106 LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-4 Focus Groups for Concept Testing KEYWORDS: Bloom's: Analysis OTHER: MBA: Strategic and Systems Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 8/28/2016 2:09 PM ED: 85 Explain the purpose of a conjoint study ANSWER: Conjoint studies are used for questions of pricing, new products, and branding They help marketers to understand how consumers make tradeoffs Consumers can’t have everything, of course, because the more “bells and whistles” that are added to a product, the higher the cost gets (which consumers don’t like.) So, knowing this, what customers really want? POINTS: DIFFICULTY: Moderate REFERENCES Page 265 : Copyright Cengage Learning Powered by Cognero Page 107 QUESTION TY Essay PE: HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-5 Conjoint for Testing Attributes KEYWORDS: Bloom's: Analysis OTHER: MBA: Strategic and Systems Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 7/11/2016 2:23 PM ED: 86 An airline is doing a conjoint study to examine what customers would like to see included in its loyalty program Here are the things it is wondering: Should there be access to an elite club at the large airports (yes or no)? Do the customers value being high priority for upgrades (yes or no)? Should the loyalty program and these benefits be free or available at a fee (e.g., $50 annually)? Explain what the airline can learn from the following figure Copyright Cengage Learning Powered by Cognero Page 108 ANSWER: The first five columns are data that are constant for every flyer: the design of the new service offerings The ratings in the last column are the consumer’s judgments This customer would most prefer to have upgrades for free and club access The next question would be, if you can’t have all that, what are you willing to give up? If they’d prefer to give up the club access, that tells us they don’t value that feature as much as upgrades and a free program If they say they’re willing to pay, then that tells us they want the perks (club access and upgrades) and are not as sensitive about price POINTS: DIFFICULTY: Challenging REFERENCES Page 267 : QUESTION TY Essay PE: Copyright Cengage Learning Powered by Cognero Page 109 HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-5 Conjoint for Testing Attributes KEYWORDS: Bloom's: Application OTHER: MBA: Operations Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 8/28/2016 2:10 PM ED: 87 Explain what types of information can be obtained through scanner data ANSWER: Scanner data are an extraordinarily rich data source that allows for the investigation of brand switching and loyalty, price sensitivity analyses, and the conducting of marketing experiments such as evaluating the effectiveness of coupons or in-store promotions It records every purchase made by every person so that researchers can see what happens when variables are manipulated For example, if a certain group of people buys a lot more of a given product when the price has gone down (and nothing else has remarkably changed), it tells researchers that this is a price-sensitive segment If it is a big enough segment, it may influence Copyright Cengage Learning Powered by Cognero Page 110 future pricing decisions POINTS: DIFFICULTY: Moderate REFERENCES Pages 268–270 : QUESTION TY Essay PE: HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-6 Scanner Data for Pricing and Coupon Experiments and Brand Switching KEYWORDS: Bloom's: Analysis OTHER: MBA: Knowledge of General Business Functions DATE CREAT 7/11/2016 2:23 PM ED: Copyright Cengage Learning Powered by Cognero Page 111 DATE MODIFI 8/28/2016 2:11 PM ED: 88 Explain the difference between internal and external validity and identify what types of studies have advantages for each one ANSWER: If a study has internal validity, it means that when we tweak something (while all else is held constant), we can be quite confident in our causal statements: “We did X, so the changes are attributable to X.” Experiments have an advantage on this since we have so much control On the other hand, external validity means that it’s a little easier to believe that our findings will generalize to the real world Naturalistic observation has the advantage here since it does indeed happen in the real world POINTS: DIFFICULTY: Moderate REFERENCES Page 269 : QUESTION TY Essay PE: HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: Copyright Cengage Learning Powered by Cognero Page 112 LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-6 Scanner Data for Pricing and Coupon Experiments and Brand Switching KEYWORDS: Bloom's: Analysis OTHER: MBA: Strategic and Systems Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 7/11/2016 2:23 PM ED: 89 Identify three types of information that can be gathered from customer satisfaction surveys ANSWER: Three types of information that can be obtained from customer satisfaction surveys include: (1) ratings of the service received; (2) how purchase experiences rate compared to expectations; and (3) repurchase intentions and intentions to generate word-of-mouth POINTS: DIFFICULTY: Easy REFERENCES Page 270 : QUESTION TY Essay Copyright Cengage Learning Powered by Cognero Page 113 PE: HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-7 Surveys for Assessing Customer Satisfaction KEYWORDS: Bloom's: Analysis OTHER: MBA: Knowledge of General Business Functions DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 7/11/2016 2:23 PM ED: 90 Interpret the following factor analysis data collected by researchers planning to start a nonprofit organization to sponsor college students Copyright Cengage Learning Powered by Cognero Page 114 ANSWER: We see that there are two very high correlations here: 0.93 and 0.91 The 0.93 is between questions and 11 This means that people answered quite similarly on these two questions, so willingness to sponsor a kid is closely tied to the perception that education is important The 0.91 is between questions and 10 and means that people answered similarly about higher education being expensive and for the privileged, thus indicating that these two issues are closely linked These researchers, then, could decide that those four questions are really getting at only two factors This could lead them to consolidate their questions to save time and effort POINTS: DIFFICULTY: Challenging REFERENCES Page 271 Copyright Cengage Learning Powered by Cognero Page 115 : QUESTION TY Essay PE: HAS VARIABL False ES: NATIONAL ST United States - BUSPROG Communication ANDARDS: LOCAL STAN United States - OH - Default City - DISC: Research DARDS: TOPICS: 15-7 Surveys for Assessing Customer Satisfaction KEYWORDS: Bloom's: Application OTHER: MBA: Operations Skills DATE CREAT 7/11/2016 2:23 PM ED: DATE MODIFI 8/28/2016 2:13 PM ED: Copyright Cengage Learning Powered by Cognero Page 116 ...DATE MODIFIED: 7/11/2016 2:22 PM Marketing information should be gathered every two years in order for a company to be well informed and poised for action a True b False ANSWER: False... States - OH - Default City - DISC: Marketing Plan TOPICS: 15- 4 Focus Groups for Concept Testing KEYWORDS: Bloom's: Comprehension Copyright Cengage Learning Powered by Cognero Page 23 OTHER: MBA:... Copyright Cengage Learning Powered by Cognero Page 24 LOCAL STANDARDS: United States - OH - Default City - DISC: Research TOPICS: 15- 4 Focus Groups for Concept Testing KEYWORDS: Bloom's: Evaluation