Exam With 100% Correct Answers 2023, Exams of Advanced Education

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BRM Test 1 Exam With 100% Correct

Answers 2023

Which of the following statements about marketing research is true? - Correct answer-a. It is the process of gathering and interpreting data for use in developing, implementing, and monitoring a firm's marketing plans. Which are the major categories of firms that conduct marketing research? - Correct answer-Companies that produce or sell products and services Advertising agencies Marketing research companies Which of the following is NOT one of the requirements for entering the marketing research field? - Correct answer-a. Negotiation skills Among the important reasons for studying marketing research are which of the following? - Correct answer-Marketing research can be rewarding and fun. To learn to be a smart consumer of marketing research results To gain an appreciation of the process, what it can and cannot do T/F: The basic function of marketing research is to gather information that is needed to help managers make better decisions. - Correct answer-True T/F: Advertising agencies are most likely to do marketing research that estimates market needs for products and services. - Correct answer-False T/F: Successful marketing researchers tend to be reactive rather than proactive. - Correct answer-false T/F: Managers should study marketing research so they can understand what they are asking of researchers when requesting marketing research. - Correct answer-True Which of the following are not valid examples of marketing research? - Correct answer- A salesperson using research study results to help sell products A politician using polling data to plan campaign strategies A media company using research to better understand its audience so it can better sell advertising Considering how managers use marketing research, which use applies to a manager who wishes to allocate resources in the best way to pursue business opportunities? - Correct answer-a. Marketing research used for planning

Which type of research would an advertising agency most likely conduct? - Correct answer-a. Research designed to create effective campaigns and measure their effectiveness Which of the following is probably the best source of data for a marketer doing research on the U.S. labor force? - Correct answer-b. A federal government agency All of the following statements describe attributes of successful marketing researchers except which one? - Correct answer-d. They simply respond to explicit requests for information. The growth in the need for marketing research is creating demand for individuals who can - Correct answer-b. collect, analyze, and interpret information. Why is it important for business people, who are increasingly exposed to research results, to study marketing research? - Correct answer-So they won't take research results at face value So they will know how to ask the right questions about the research So they can determine the validity of the results Managers who study and understand marketing research will know which of the following statements about the research process are NOT true? - Correct answer-c. Marketing research is inexpensive to an organization and can therefore be undertaken on trivial issues. The first stage of the marketing research process is Problem Determination. What is the best course of action if the phenomenon to be investigated is broad or vague? - Correct answer-c. Conduct exploratory research to clarify the issue. Which of the general approaches to marketing research focuses on describing a population? - Correct answer-c. Descriptive research At which stage can errors enter the marketing research process? - Correct answer-a. At any stage Under which moral reasoning framework is it more difficult to judge an action as ethical?

• Correct answer-a. The rights approach Marketing research should be avoided when - Correct answer-the goal of the research is to support a particular position with pseudo-scientific results. attempting to sell products, services, or ideas under the guise of marketing research. when time, budget, or other resources are lacking to do the research properly.

T/F: Much of the data that marketing managers need to make routine decisions do not exist inside a company's databases. - Correct answer-False T/F: Descriptive research is a less common means of gathering primary data. - Correct answer-False T/F: Even the best marketing research projects contain error of one kind or another. - Correct answer-True T/F: If an action is legal, then it is ethical. - Correct answer-False T/F: Trying to sell products after telling respondents you are conducting marketing research is an unethical approach known as "sugging." - Correct answer-True The first thing that must occur for research to be properly designed: - Correct answer-d. The problem or opportunity must be precisely defined. Which of the following statements about primary data is true? - Correct answer-b. It is time-consuming to generate primary data. Which broad approach to marketing research sheds light on a particular issue at a particular time? - Correct answer-b. Collecting data to address specific problems All of the following represent examples of the causal research approach, except: - Correct answer-d. Determining the frequency with which something occurs within a population The most critical error in research work is - Correct answer-d. total error. The stage of marketing research in which error can enter the process is - Correct answer-c. Error can enter during any stage. Which method of ethical reasoning holds that the correct course of action is the one that promotes the greatest good for the greatest number of people? - Correct answer-a. Utility approach Which of the following statements about the ethical reasoning frameworks is true? - Correct answer-c. These frameworks will not always lead to the same conclusion about the ethics of research. "Sugging" is best described by which of the following statements? - Correct answer-c. Attempting to sell products or services after telling respondents you are conducting marketing research Marketing research should be avoided when - Correct answer-it is unethical. management bias cannot be overcome with valid research results.

it wastes a company's resources The first key step in problem formulation: - Correct answer-d. Meet with the client When meeting with the client, to get as much information as possible about the problem/opportunity, how many times should you ask "why" the situation has occurred to dive deeper into possible causes? - Correct answer-c. Five The two basic sources of change in the marketing environment are - Correct answer-d. planned and unplanned. Researchers should be actively involved in problem formulation by - Correct answer-a. listening carefully as managers provide their perspective on the problem. A well-stated decision problem - Correct answer-takes the manager's perspective. is as simple as possible. takes the form of a question. A manager's view of the problem or opportunity is known as the - Correct answer- decision problem Which part of the research request agreement discusses the groups from whom the information must be gathered? - Correct answer-b. Population and subgroups The section of a formal research proposal that discusses the editing and proofreading of questionnaires, coding instructions, and type of data analysis is - Correct answer-the analysis What is the document that is typically used to describe the nature of the problem and ask research providers to offer proposals? - Correct answer-a. Request-for-proposal T/F: Problem formulation involves more art than science. - Correct answer-True T/F: When meeting with the client, it is important to keep the broader issue in mind to keep from going down a very specific and possibly incorrect path. - Correct answer-True T/F: Understanding the source of a problem rarely provides clues about the type of research that is needed. - Correct answer-False T/F: "Normal thinking" can help managers or researchers understand the true nature of a problem. - Correct answer-False T/F: Discovery-oriented research rarely solves a problem in the sense of providing actionable results. - Correct answer-True

T/F: With a known decision problem, a researcher's primary task is to develop a partial range of research problems. - Correct answer-False T/F: The research request agreement helps ensure that the client and the researcher agree about the research problems to be addressed. - Correct answer-True T/F: Unlike the research request agreement, the research proposal specifies the techniques to be used in implementing research. - Correct answer-True T/F: If a company is going to consider and evaluate multiple research providers and select to work with, a request-for-proposal will often be issued to interested or qualified providers. - Correct answer-True When data that marketers need to make decisions already exist inside or outside the organization, it is known as - Correct answer-secondary data Which of the following is a potential disadvantage of using secondary data? - Correct answer-the quality of data Which systems approach to providing managers with the information they need produces regular, standardized reports based on data held in a database? - Correct answer-a. Marketing information systems (MIS) Which of the following are components of a decision support system (DSS)? - Correct answer-The data system The model system The dialog system Knowledge management is an effort to collect and make accessible what kind of information an organization's people possess? - Correct answer-Customer information Product information Process information T/F: Secondary data make up most of the data held in data systems used in marketing research. - Correct answer-True T/F: Because the time from data collection to data dissemination is often long, secondary data are often out of date. - Correct answer-True T/F: The ability to interact with the system to create customized information is the true value of a decision support system (DSS). - Correct answer-True T/F: The element of a DSS that clearly separates it from an MIS is its model system. - Correct answer-False

T/F: The usefulness of a knowledge management system depends on the willingness of customers to share information. - Correct answer-False What source of secondary data might be useful for a company seeking to understand the type of people who use its products? - Correct answer-c. Product registration card data Secondary data is typically more accurate when - Correct answer-c. it comes from the primary source that originated the data. Evidence that the research that collected secondary data was done properly involves understanding what details about the data collection process? - Correct answer- Definitions Data collection forms Method of sampling Which systems approach makes the most sense for a manager in a dynamic marketing environment that needs data at irregular intervals? - Correct answer-a. Decision support system (DSS) What is true about Customer Relationship Management (CRM)? - Correct answer-a. It is a system for gathering all relevant information about a company's customers. Which component of a decision support system (DSS) has modules containing information about customers, general economic and demographic data, competitor information, and industry information such as market trends? - Correct answer-a. Data system Which component of a decision support system (DSS) has routines or tools for helping managers do things like make better marketing mix decisions and new product development decisions or assess alternative marketing plans? - Correct answer-b. Model system What approach seeks to systematically collect organizational knowledge and make it accessible to others? - Correct answer-b. Knowledge management Which of the following is a limitation of the systems approach? - Correct answer-The cost and time required to build information systems Different managers have different data needs. Managers are limited to the data available in the system. Big data is multidimensional and can be described by the four Vs. Which of the following is NOT one of the four Vs? - Correct answer-b. Visibility The information on a product warranty card, such as serial number and contact information, is an example of which kind of data? - Correct answer-Structured

Of the most widely acknowledged and newest sources of data, the type that allows companies to get a 360-degree view of a customer's purchasing patterns is - Correct answer-d. omni-channel transactional data. What is the type of big data analysis that is designed to aid both explanatory and forecasting abilities? - Correct answer-a. Predictive Of the key challenges of big data integration within a firm, which one does the text suggest is the biggest challenge? - Correct answer-c. Firm integration of big data T/F: Big data is ultimately about establishing processes to yield insightful outcomes from analyzing large and varied data sets. - Correct answer-True T/F: If data can be captured in the rows and columns of a spreadsheet or database, it can be structured. - Correct answer-True T/F: Social media data is useful for Voice of the Customer (VOC) research to understand customer experience, likes, and dislikes. - Correct answer-True T/F: The prescriptive technique of big data analysis uses data mining to extract patterns from large data sets. - Correct answer-False T/F: One of the challenges of accessing and retrieving data is the ability to merge unstructured and structured data. - Correct answer-True Which dimension of "big data" refers to the pace of data flow both into and out of a firm?

• Correct answer-Velocity Which of the following statements about "big data" is NOT true? - Correct answer-b. The sources of big data are highly invariable. What is the fifth V of big data - value - most concerned with? - Correct answer-b. Increasing existing or creating new revenue streams Which broad type of data represents the greater challenge for integration and analysis as part of big data analysis? - Correct answer-c. Unstructured Which of the following are potential sources of unstructured data? - Correct answer- Product reviews found on Amazon.com Instagram photos Text messages

Why might omni-channel transactional data analysis be important to a retailer? - Correct answer-c. Because it lets you identify customers' paths to eventual purchase points Which type of data, when analyzed, is useful for identifying "super-influencers" who can make or break a product, brand, or service? - Correct answer-c. Social data What descriptive analysis technique might a retailer use to analyze millions of transactions to understand the relationship between things in the shopping carts (market baskets) of consumers? - Correct answer-a. Data mining What type of analysis might a government health agency use to predict the symptoms and spread of an influenza outbreak? - Correct answer-b. Time series analysis Companies that wish to gain insights through big data analysis are likely to face which challenges? - Correct answer-b. The lack of employees with analytical skills to turn data into information What is the first step to getting started on a search for secondary data on a topic? - Correct answer-b. Identify what you want to know and what you already know. What use of standardized marketing information, such as the Dun and Bradstreet global commercial database, would enable isolating potential new customers with specific characteristics? - Correct answer-d. Profiling customers What research approach might a business use to determine where to locate a new franchise that is close to an existing set of customers? - Correct answer-c. Geodemography Using census and other data, as Nielsen's PRIZM does, to classify residential neighborhoods into homogeneous groups with names such as "The Cosmopolitans," "Boomtown Singles," and others is an example of what? - Correct answer-a. Segmentation What means of measuring sales to consumer households would you use if data from retailers was NOT available? - Correct answer-a. Diary panel of a representative group of individuals How does the Nielsen company use the data it collects from people meters? - Correct answer-a. To estimate the size and nature of the audience for individual television programs To gauge the effectiveness of a single advertising campaign that appears simultaneously across a wide spectrum of media, a marketing researcher would use what type of services? - Correct answer-a. Cross-platform

Which statement or statements about single-source data are true? - Correct answer- Marketing researchers have tried for decades to create systems that tie customer data together. Much of the single-source data in industry is tightly controlled by retailers. It isn't possible to have single-source data that is complete about every customer. Which of the following research examples does NOT fit the definition of descriptive research? - Correct answer-d. Determining which of several sales promotions was the most effective What factors drive the success of descriptive research studies? - Correct answer-They may require exploratory research to clarify the problem and develop hypotheses. They must be guided by one or more specific research problems. They must have a clear specification of the who, what, when, where, why, and how of the research. What type of study would a marketing researcher use to measure product purchases from the same group of consumers over regular intervals? - Correct answer-b. A longitudinal study using a continuous panel Which statement about panel data represents a disadvantage of using it? - Correct answer-b. Panel data is nonrepresentative and/or nonrandom. What characteristic about sample surveys represents an advantage to using them? - Correct answer-a. The ability to project results of the sample to the overall population All of the following are categories of data that marketing researchers typically collect except for which one? - Correct answer-Fears Which category of data is often more accurate and objective than other categories of data? - Correct answer-c. Behavioral Which test of memory is useful for measuring awareness of an advertisement? - Correct answer-Unaided recall Aided recall Recognition An automobile manufacturer whose research revealed a desire for status drove most new car purchases probably knows this from collecting what category of primary data? - Correct answer-Motivation What can be measured using observation? - Correct answer-Behavior

Advantage(s) of using the observation method of collecting data include(s) which of the following? - Correct answer-c. It does not depend on a respondent's memory. What type of observation involves watching the actual activity? - Correct answer-Direct What is the first of several important decisions to make when collecting data through observation? - Correct answer-c. Whether to use structured or unstructured observation Which of the following are advantages of using higher levels of structure in an observational study? - Correct answer-Reduced potential for bias Increased reliability of observations Simplified and less costly coding and analysis of data In which observation method are the people being observed unaware that they are being observed? - Correct answer-Disguised Which method of observation should be avoided if concerns exist about people behaving differently under observation? - Correct answer-Undisguised Which method of observation is ideal if concerns exist about interference from outside influences while making the observations? - Correct answer-d. Laboratory setting Which method of mechanical observation could tell a researcher which section of a store shelf captured consumers' attention most frequently? - Correct answer-d. Eye camera What is the basic function of gathering market research? - Correct answer-To help managers make better decisions What is the goal of marketing? - Correct answer-A. To create exchanges with customers that satisfy the needs of both the customer and the marketer Before you can begin your research, you must do what? - Correct answer-B. Define the problem and take the research request agreement The research topic, "Women's health" might be too broad or vague. What type of research should be done to narrow this topic? - Correct answer-D. Exploratory Research Many companies spend tons of money developing advertising campaigns. They then bring in people to see their reactions to each campaign. While the company might have developed 10 campaigns, only one will be chosen based off the consumer reactions. This decision was made using which type of research? - Correct answer-A. Causal Research

If a sample is the particular subset of the population chosen for a study, How is a sample designed? - Correct answer-Specifying the sampling frame specifying the type of sampling planned for use specifying the sampling size If you collect thousands of surveys from a sample of the population, they are useless unless you... - Correct answer-A. Analyze and interpret them correctly Even though you may be conducting a survey with informed consent, it must also be... - Correct answer-Voluntary Straightforward Legal and ethical While an individual depth interview provides one-on-one discussion, a focus group provides... - Correct answer-B. Group Discussion If Chick-Fil-A has decreased sales for a period of time, they might create focus groups or surveys to figure out how to reach more customers and increase profit and sales. This will allow them to understand their customers better and Improve their food service. The act of collecting this data is called.... - Correct answer-C. Data Mining In order to find out what a customers true feelings toward a product or service, companies use what type of projective method? - Correct answer-Word Association Sentence Completion Storytelling Role Playing Suppose a company is trying to conduct a survey to a diverse group of interests. In addition to several different types of publications, the company could do what? - Correct answer-Ask people of multiple generations to complete the survey Get both females and males to complete the survey Have people of different ethnicities to complete the survey If a company is concerned with what a consumer is doing and how they are doing it, they are analyzing the consumer's? - Correct answer-Behavior Asking "Do you recall seeing any ads for smartphones recently?" on a survey allows companies to determine a consumers awareness or knowledge. What awareness measurement is used? - Correct answer-Aided Recall When cars are brought in to be services, a car dealer takes note of which stations are preset in that car. The car dealer then chooses which stations to advertise on based on

his data collection. Which type of research method is this? - Correct answer- Observation Which kind of research should be avoided? - Correct answer-Advocacy research Research to support a decision that has already been made Research in which the costs outweigh the benefits Which of the following is NOT a step in Marketing Research Process? - Correct answer- making a back up plan. Problem definition, data capture, and data analysis are pare of the marketing research process How many steps has the problem formulation process? - Correct answer- Which of the following is not a key step in problem formulation? - Correct answer- develop rapport and open communication lines develop a full range of possible research problems, select research problem(s) to be addressed, clarify the problem/opportunity are key steps The two basic means of obtaining primary data are: - Correct answer-communication and observation