Lesson 5: Market Research and Intelligence

The real value of marketing research is the __________, the information that can give a company a strong advantage over the competition.

• customer insights

• product testing

• competitive edge

• internal data

The results of market research are used to identify the ____________ for a product.

• convenience sample

• cultural differences

• probability sample

• target market

When starting to gather data, marketing researchers typically begin with

• primary data.

• survey data.

• secondary data.

• focus group data.

Information collected from marketing surveys is an example of _______ data.

• primary

• experimental

• secondary

• observational

What can you conclude is the reason why secondary data is desirable?

• It includes survey information from consumers.

• It includes information not usually accessible to a company.

• It includes focus group data.

• It includes information that a company has in its databases.

Observational research data is valuable because it allows companies to obtain information that people are often unwilling or unable to provide. Which of the following is not a limitation of observational research?

• Feelings, attitudes, and motives cannot be observed.

• Participants can be seen but not heard.

• Observations are very difficult to interpret.

• Certain private behaviors are unknown and cannot be observed.

A company wants to determine what price consumers will pay for a new sandwich. At one store, the company charges $3.59. At another comparable store, the company charges $4.59. Sales are tracked at both locations for a one-month period. The data collected in this example is __________ data.

• ethnographic

• quantitative

• qualitative

• exploratory

A company marketing team identifies a small group of consumers who fit the profile of the typical customer. The team observes, gathers survey information from, or hangs out with these typical customers, to gain insight into how the customers make product choices in order to design a future, more rigorous study. The data collection method used in this example is

• observational research.

• focus group research.

• case study research.

• exploratory research.

A company wants to ensure that the data it has collected over the year is useful. Based on the characteristics of data, what is needed to make the results

useful?

• interpretation

• collection

• translation

• tabulation

The marketing team for a local bakery wishes to examine data they have collected over the year to see how the results vary between several categories.

What form of analysis should be used?

• tabulation

• cross-tabulation

• data mining

• average difference