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Exam 15: Marketing Research Tools

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Question 21

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Scanners began in to help inventory management, but it quickly became obvious that the information obtained was valuable for far more.

A) drug stores
B) grocery stores
C) shopping malls
D) clothing factories

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Question 22

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What does ROMI stand for?

A) return on marketing investment
B) referral of multidimensional information
C) risk of manipulating investors
D) rise of multiple interactions

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Question 23

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Customer satisfaction surveys should be long and detailed, so they provide marketers with the most detailed and actionable information possible.

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

In the attribute based approach, the customer makes two kinds of ratings: (1) how does our company rate on a number of attributes? and (2) how important are each of these attributes?

Marketing research is tremendously .

Scanner data, combined with shopper demographics, provides useful data for marketing researchers seeking insights about customer purchase behavior.

A cluster analysis helps identify .

Scanner data originated in retail grocery stores as an inventory management tool, and quickly became even more valuable as a marketing tool.

Explain what types of information can be obtained through scanner data.

Which is an approach in creating a perceptual map?

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.

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

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.

Identify and describe the two approaches for creating a perceptual map.

If you want to use a factor analysis and a cluster analysis to complement each other, which one should you do first?

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?

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.

Conjoint methods are used frequently in studies of pricing and branding.

About how long does a focus group typically last?