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Exam 15: Marketing Research Tools

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Question 31

True/False

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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) False

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Question 32

Multiple Choice

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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?"

E) A) and C)
F) A) and B)

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Question 33

Multiple Choice

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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?

Rafael wants to conduct market research about his brand's STP.Which of the following market research tools is the most relevant?

About how long does a focus group typically last?

A cluster analysis helps identify

Every marketing decision should be based on facts.

Clustering methods form smaller groups of similar data.

Qualitative studies can deliver large sample sizes and some certitude around numbers, while surveys offer a deep understanding of motivation.

If you participate in a focus group you should expect to be there all day.

What type of statistical analysis must you do in a conjoint study?

To create a perceptual map based on attributes, customers complete a survey about the selected attributes.

Marketing information should be gathered __________ so the company can be in the know and poised for action.

A cluster analysis is used to identify segments, and it determines exactly which segment(s) to target.

Conjoint studies are run to understand how consumers make

Gary wants to create a perceptual map for positioning using the attribute-based 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?

Explain the difference between internal and external validity and identify what types of studies have advantages for each one.

With respect to perceptual maps, the method known as MDS stands for

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?

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.