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Exam 15: Marketing Research Tools

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Question 21

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Which is an approach in creating a perceptual map?

A) attribute based
B) demographic based
C) focus group based
D) survey based

E) B) and D)
F) A) and B)

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Question 22

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

A) True
B) False

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Question 23

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About how long does a focus group typically last?

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

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

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

What does ROMI stand for?

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

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.

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.

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

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

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?

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

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

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

A cluster analysis helps identify .

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 .

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.