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Exam 7: Marketing Research: From Customer Insights to Actions

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Question 121

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Briefly explain the best-known statistical method, trend extrapolation, used by marketers to develop a company's sales forecasts. In your explanation, explain the strengths and weaknesses of using this method.

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The best-known statistical method of for...

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Question 122

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A decision refers to

A) a premeditated selection resulting in a personal action.
B) a conscious choice among a set of alternatives that creates the least amount of risk.
C) a conscious choice from among two or more alternatives.
D) a subconscious selection of the alternative most consistent with one's personal beliefs.
E) an unconscious choice selected from a subset of positive alternatives.

F) A) and B)
G) A) and E)

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Question 123

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A survey asked consumers of dental products the following question "Have you used toothpaste in the past week? ___ Yes ___ No" The results of this question show that 92.6 percent of the people in New York City have used toothpaste in the past week and 87.2 percent of people in Los Angeles have used toothpaste during the same period. This information was gathered by using which type of question?

The National Health Interview Survey is conducted annually by the Centers for Disease Control and Prevention. By examining information gathered from a national sample of 600 respondents throughout the U.S., it was able to announce that 14.1 percent of all Americans lacked healthcare insurance. To make this statement, the Centers for Disease Control and Prevention had to use

Individual interviews involve

GI Design is a small studio that designs and builds items such as fountains and tabletops made from copper. To increase sales, Greg, the owner, developed a research plan to determine what landscape architects and interior designers wanted in copper furnishings and appropriate pricing. He had begun to interview representative designers. Greg was engaged in __________, the third step of the five-step marketing research approach.

When Karsh and Hagan Advertising Agency uses information found in Nielsen Television Index Ranking Report published by Nielsen Media Research to plan television advertising schedules for its clients, it is relying on __________ data.

-Figure 7-2B above shows that secondary data may be divided into two related parts. If Box A represents marketing input and outcome data (budgets, call reports, customer communications, etc.) , which type of data is A?

In marketing, a conscious choice made from among two or more alternatives is referred to as

National TV ratings, collected with a "people meter" and published by Nielsen Media Research, are an example of __________ data.

Three frequently used sales forecasting techniques are (1) judgments of the decision maker; (2) surveys of knowledgeable groups; and (3) __________.

The facts and figures related to the problem are referred to as __________.

Observing people and asking them questions are the two principal ways to obtain

-Figure 7-6A above indicates that

All of the following are sources of primary data EXCEPT:

$\begin{array}{l}\text { 6. Check one box that describes your agreement or disagreement with each statement listed below: }\\\begin{array} { l c c c c c } \text { STATEMENT } & \begin{array} { c } \text { STRONGLY } \\\text { AGREE }\end{array} & \text { AGREE } & \begin{array} { c } \text { DON'T } \\\text { KNOW }\end{array} & \text { DISAGREE } & \begin{array} { c } \text { STRONGLY } \\\text { DISAGREE }\end{array} \\\hline \begin{array} { l } \text { - Adults like to take their families } \\\text { to fast-food restaurants }\end{array} & \square & \square & \square & \square & \square \\\begin{array} { l } \text { - Our children have a say in where } \\\text { the family chooses to eat }\end{array} & \square & \square & \square & \square & \square\end{array}\end{array}$ -Consider Figure 7-4: Question 6 above, which was part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers. Question 6 illustrates which type of question format?

Set during the marketing research process, __________ are the specific, measurable goals the decision maker seeks to achieve in conducting the marketing research.

-According to Figure 7-1 above, what does Box A represent in the marketing research process?

After defining the problem, the next step in the five-step marketing research approach is to

Semantic differential and Likert are question types that uses a(n)