Market Research Test
Which
of the following best describes the phenomenon of 'options'?
a. The tendency to assume that things will
work out well
b. The
tendency to assume that things will work out badly
c. The
overestimation of low-probability negative outcomes
d. The
underestimation of low-probability positive outcomes
If
the following responses were received regarding a statement in a survey, what
is the percentage of those who opposed the statement?
Strongly agree: 86
Agree: 212
Neither agree Nor disagree: 127
Disagree:62
Strongly disagree: 13
a. 5%
b. 15%
c. 20%
d.
Impossible to tell
For
what purpose is the 'Schmidt-Hunter' technique of meta-analysis used?
a. To determine the reliability of data.
b. To
combine the results of multiple studies.
c. To
determine the validity of data.
d. To
identify the optimal target market for a product.
50
people are asked to respond to a question with the answers Yes/No/Don't know on
two occasions, On the first occasion, the responses were 15/25/10 and on the
second 18/26/6.
What
is the change in the number of positive responses as a percentage of the whole
sample?
a. 3%
b. 6%
c. 9%
d.
Impossible to tell
Before
which of the following decisions would it be LEAST sensible for a company to
undertake market analysis?
a.
Whether to expand the workforce
b. Whether to purchase a new plant
c. How
much to pay to the staff
d. How
much raw material to buy
What
is the name of the forecasting method whereby a panel of independent experts
answer questionnaires in two or more rounds in order to converge on the correct
answer?
a. The Delphi method
b. The
Athens method
c. The
Apollo method
d. The
Oracle method
Which
TWO of the following situations may cause 'response bias'?
i) Emotive language in a survey question
ii) Delay between designing a survey and
using it
iii) Using a voluntary-response method that
leads to respondents not being representative of the population
iv) Using qualitative rather than
quantitative methods
a. i and ii only
b. i
and iii only
c. ii
and iv only
d. iii
and iv only
In
which of the following pieces of information would a mystery shopper NOT be
fundamentally interested?
a.
Timeliness of response
b. Technical specifications of a product
c.
Staff customer-service skills
d.
Levels of hygiene
Which
of the following is/are typical problems associated with 'observational' market
research?
i) It increases the potential for bias.
ii) It reveals little about motivation.
iii) It relies on the honesty of the
participants.
a. None
of the above
b. i
only
c. ii
only
d. iii only
If a
company commissioned market research to look at the potential effect of
changing an attribute of a product (e.g. its colour), what specific type of
market research would it be?
a. Causal
b.
Observational
c.
Secondary
d.
Qualitative
Which
of the following models the process by which new products are taken up amongst
a population of potential customers?
a.
Taylor's exchange theorem
b.
Harvey's spread algorithm
c. Bass diffusion model
d.
Young's flow diagram
Which
of the following would NOT be a primary reason for analyzing demographic
information collected as part of a survey?
a. To
ensure that the sample was representative
b. To
be able to compare the responses of different types of people
c. To
check that the researchers had not faked the data
d. To help identify the target audience for a
product
Which
of the following types of companies would be LEAST interested in 'coolhunting'
as a form of market research?
a. A
garment/fabric store
b. A
supermarket
c. A
store specializing in electronic gadgets
d. A record company
Which
of the following statements is/are true?
i) Comparing weighted scores for key industry
success factors (e.g. economies of scale) between competitors is known as
'competitor array analysis'.
ii) Benchmarking is an effective means of
identifying the best industry practice.
a. Both (i) and (ii) are true.
b. Only
(i) is true.
c. Only
(ii) is true.
d.
Neither is true.
Which
of the following is NOT typically a qualitative method of market research?
a.
Using an on-line research community
b.
Using a mystery shopper
c. Using a focus group
d. A
survey using the Likert scale
Companies
may be forced to remain in an unprofitable market because they have, for
example, invested heavily in infrastructure. What are these factors known as?
a.
Golden handcuffs
b.
Barriers to exit
c.
Escape clauses
d. Transfer costs
Which
of the following best describes the market research related term 'sugging'?
a.
Seeking funds by pretending to be a research organization
b.
Manipulating statistics to produce a favorable result
c.
Exploiting market research conducted by other organizations
d. Using market research as a cover for
generating business
Which
TWO of the following are issues associated with ‘benchmarking’?
i) It leads to increased production costs.
ii) It can be difficult to obtain the
necessary data.
iii) Comparison with market leaders is not a
helpful process.
a. i
and ii only
b. i
and iii only
c. ii and iv only
d. iii
and iv only
What
is the 'mean' of the following data: 3, 11, 5, 6, 7, 5, 6, 5?
a. 5
b. 5.5
c. 6
d.
Impossible to tell
What
does the 'Dirichlet model' seek to describe?
a. The
product life-cycle
b. The relationship between marketing and
sales
c. The
effect of elasticity of demand on revenue
d.
Brand loyalty and repeat purchases
What
does a correlation of '-1' between two variables indicate?
a. That there is a slight negative
correlation between the variables.
b. That
there is no correlation between the variables.
c. That
there is a perfect negative correlation between the variables.
d. That
the variables are independent.
Which
of the following best characterizes face-to-face surveys relative to other
types of surveys?
a. Low
response rate, low cost
b. Low
response rate, high cost
c. High
response rate, low cost
d. High response rate, high
Competing
brands can be placed on a graph to illustrate their market positioning and
thereby identify potential niches. What is the term for this analytical technique?
a. Brand analysis
b.
Force-field analysis
c.
Product placement
d.
Perceptual mapping
A
PEST analysis can be used to identify the external factors affecting a market.
What does the ‘P’ PEST stand for?
a.
Product
b.
Promotion
c. Political
d.
Pricing
How
many levels are usually there on a Likert scale?
a. 8-9
b. 6-7
c. 5-7
d. 2-3
Which
of the following is an example of a ‘closed’ question?
a. “Why
do you get up early in the morning?”
b. “Who
is your favorite baseball player?”
c.
“When shall we go to the restaurant?”
d. “Do you like Mozarat?”
Which
of the following best describes ‘secondary’ market research?
a. Research that is designed to corroborate
previous research
b.
Market research that relates to other companies rather than end consumers
c. The
collation of data that was previously gathered for different pieces of research
d.
Research based on data that relates to consumers' previous habits rather than
their future intentions
Which
of the following are reasons for a company undertaking 'price elasticity
analysis'?
i) Determining the types of people who buy a
product
ii) Identifying 'price points' in the market
for a product
iii) lnvestigating the effects of price
changes on sales
a. i
and ii
b. i
and iii
c. ii and iii
d. All
of the above
If
25% of the respondents reported that they would buy product A and 48% reported
they would buy product B, how many respondents would buy both?
a. 12%
b. 23%
c.
36.5%
d. Impossible to tell
What
is the name given to the effect whereby people carry out an activity
differently if the management is taking an interest in or monitoring them?
a.
Eddington effect
b.
Fowlds effect
c. Hawthorne effect
d.
Norton effect
Which
of the following is a statistical measure used to calculate how widely-spread a
set of data is?
a. Standard deviation
b.
Correlation
c.
Regression analysis
d.
Median
Which
of the following survey questions would be most likely to yield unbiased
responses?
a.
“Isn't it a bad idea to raise taxes?"
b.
“It's a bad idea to raise taxes, isn't it?"
c.
"Lots of people are struggling to make ends meet. Do you think taxes
should have been raised?"
d. "What do you think of the decision to
raise taxes?"
Which
of the following types of sampling involves selecting a set number (which need
not be the same) of a distinct sub-group (or ‘stratum’)?
a. Quota sampling
b.
Simple random sampling
c.
Systematic sampling
d.
Probability sampling
Which
of the following best describes the purpose ‘Ad Tracking’?
a. To
calculate the cost of a marketing campaign
b.
Advanced engagement with consumers to confirm that an advertisement will be
popular
c. To
verify that the design process for an advertisement follows the required steps
d. To check the effectiveness of marketing
activities
Which
of the following terms concerns applying statistical methods to the deduction
of principles?
a.
Causality
b.
Econometrics
c.
Demographics
d. Predictive analytics
Which
of the following statements is/are true?
i) The data on which secondary market
research is based is unlikely to be tailored precisely to the requirements of
the task.
ii) Secondary market research tends to be
more expensive than primary research.
a. Both (i) and (ii) are true.
b. Only
(i) is true.
c. Only
(ii) is true.
d.
Neither is true.
Which
of the following sources of market-research data would NOT contribute to a
study on a retail company’s customer conversion?
a.
Monitoring the number of hits on the company web site
b. Counting the number of customers entering
the company’s stores
c.
Sales data from checkouts
d.
Using a mystery shopper
Which
of the following statements is/are true?
i) A 'longitudinal' survey is one where the
same set of respondents complete the same survey on two or more occasions.
ii) A 'cross-section' survey is one where the
same set of respondents complete different surveys on two or more occasions.
a. Both
(i) and (ii) are true.
b. Only (i) is true.
c. Only
(ii) is true.
d.
Neither is true.
What
is the ‘Interquartile range’ of the following data: 10, 6, 12, 8, 2, 6, 4?
a. 4
b. 4 5
c. 6
d.
Impossible to tell
Which
of the following conclusions should be drawn from the voting phenomenon
commonly known as the 'Bradley effect' (or 'Wilder effect')?
a. People's behavior does not necessarily
follow their stated intentions.
b.
People do not consume as much of a product as they say they will.
c.
People are, ultimately, less concerned about ethical issues than financial
ones.
d.
People will generally see through false claims.