Marketing researchers should allow for continual evaluation of the data during the entire data collection period.
Marketing Research Review Sheet

Flashcard
•
Business
•
12th Grade
•
Hard
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29 questions
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1.
FLASHCARD QUESTION
Front
Back
True
Answer explanation
True. Continual evaluation of data during the collection period allows researchers to identify trends, adjust strategies, and ensure data quality, leading to more accurate and reliable results.
2.
FLASHCARD QUESTION
Front
Can marketing research be used to test a hypothesis?
Back
True
Answer explanation
True. Marketing research is a systematic process that can be used to gather data and test hypotheses, helping businesses make informed decisions based on empirical evidence.
3.
FLASHCARD QUESTION
Front
Survey and observation are considered secondary data collection techniques.
Back
False
Answer explanation
The statement is false because survey and observation are primary data collection techniques, as they involve gathering new data directly from sources rather than using existing data.
4.
FLASHCARD QUESTION
Front
Customer advisory boards are small groups of actual customers who serve as sounding boards for new product ideas and offer insights into their feelings and attitudes toward a firm's products, promotion, pricing, and other elements of marketing strategy. True or False?
Back
True
Answer explanation
True. Customer advisory boards consist of actual customers who provide feedback on product ideas and insights into their perceptions of a company's marketing strategies.
5.
FLASHCARD QUESTION
Front
Crowdsourcing refers to the process of taking tasks usually performed by a marketer or researcher and outsourcing them to a crowd, or potential market, through an open call.
Back
True
Answer explanation
The statement accurately describes crowdsourcing as outsourcing tasks to a crowd through an open call, which is a key characteristic of the concept. Therefore, the correct answer is True.
6.
FLASHCARD QUESTION
Front
Stratified sampling may reduce some of the error that could occur in a simple random sample.
Back
True
Answer explanation
True. Stratified sampling involves dividing the population into subgroups and sampling from each, which can lead to more accurate and representative results, thus reducing potential errors compared to simple random sampling.
7.
FLASHCARD QUESTION
Front
Failing to conduct research can help companies maintain a competitive advantage.
Back
False
Answer explanation
Failing to conduct research can lead to a lack of understanding of market trends and customer needs, ultimately harming a company's competitive advantage. Therefore, the statement is false.
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