Market Research MCQ Questions Answers

1. _____ is used to understand the impact of independent variables on a particular dependent variable.

2. The logical interpretation of facts in a report is called a(n) __________.

3. To deliver real value to marketers, marketing information must _________.

4. Preparing the research report is the __________ step in the market research process.

5. To develop needed information, marketing information systems utilize _________.

6. Observation is best suited for ________ research.

7. Competitive marketing intelligence is primarily responsible for _____________.

8. _____ is the value of a variable that is estimated from a sample.

9. Two special methods vital to marketing researchers are __________ and __________.

10. The _____ of marketing research is to address ""what if"" questions.

11. A ________ is a logical interpretation of the facts and other information in a report.

12. Ideally, market research should be ________.

13. The most familiar search tools are ____________.

14. Information collected from online databases on the internet is an example of ________ data.

15. Demographic variables are so frequently used in market segmentation because they ________.

16. _______ segmentation focuses on why people buy what they buy.

17. Erp systems provide _____ and _____ benefits.

18. A growth strategy that attracts users of competitive brands is called a ________ strategy.

19. A _____ strategy concentrates on finding new markets for existing products.

20. Wholesalers most likely discourage less-profitable customers by ________.

21. While creating research questionnaires, researchers must particularly avoid the use of ________.

22. When marketing researchers consider sampling techniques, they are preparing to collect ____ data.

23. Participants in ____ frequently get to see pictures, products, advertising samples, and diagrams.

24. A marketing information system begins with the step of ________.

25. Collecting the data is the step of the market research process that involves __________.

26. Two key elements in deciding how to collect marketing data are __________ and __________.

27. The process of selecting sample members so that groups can be compared is known as _____ sampling.

28. A marketing research project often begins with a review of the relevant __________ data.

29. ________ is the final step in the marketing research process.

30. ________ is best suited for descriptive research.

31. An advantage of collecting data via an online questionnaire is __________.

32. What does it mean to say that a test is "significant at the 2% level"?

33.

Which of the following statements is/are true?

 i) Market research must be objective.

ii) Market research comprises analysis and predictions of consumer behavior.

34. What does a correlation of '-1' between two variables indicate?

35. orecasting is made difficult by the fact that tiny initial variations can have significant long-term effects. What is this phenomenon known as?

36. Forecasting is made difficult by the fact that tiny initial variations can have significant long-term effects. What is this phenomenon known as?

37. Which of the following best defines the term 'Market Segmentation'?

38. Which of the following models the process by which new products are taken up amongst a population of potential customers?

39. Which of the following best characterizes face-to-face surveys relative to other types of surveys?

40. Which of the following is true of a market with a 'zero-profit condition'?

41. Which of the following terms concerns applying statistical methods to the deduction of economic principles?

42. Which of the following is an example of a 'closed' question?

43. Which of the following is NOT a problem associated with postal surveys?

44. Which of the following does NOT feature in Porter's 'five forces analysis'?

45. Before which of the following decisions would it be LEAST sensible for a company to undertake market analysis?

46. Before which of the following decisions would it be LEAST sensible for a company to undertake market analysis?

47. What does the 'Dirichlet model' seek to describe?

48. To what end is 'conjoint analysis' used?

49.

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.

iv)Organizations are not necessarily directly comparable.

50. 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?

51. Which of the following best describes the technique of 'A/B testing' (or 'split testing')?

52. Which of the following statements is/are true? i)Data can be extrapolated to predict future behavior. ii)A moving average can be used to reduce the impact of anomalies in data.

53. Which of the following types of companies would be LEAST interested in 'coolhunting' as a form of market research?

54. What type of measure would be gained by asking consumers to choose which company from a list was the sponsor of an advertisement?

55. What is the 'interquartile range' of the following data: 10, 6, 12, 8, 2, 6, 4?

56.

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)Investigating the effects of price changes on sales

57.

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.

58. For what purpose is the 'Schmidt-Hunter' technique of meta-analysis used?

59. What sub-set of a set of data is covered by the 'box' element of a box-and-whisker diagram (or 'box plot')?

60.

Which of the following statements is/are true of 'choice modeling'?

i)It permits the respondents to behave strategically.

ii)It compels the respondents to consider compromises between mutually-incompatible features.

61. What is meant by the expression 'Type II error'?

62. It is important that surveys actually measure what they are intended to. Which of the following terms describes this consideration?

63. 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')?

64. To what end do market researchers use 'choice modeling'?

65.

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

66. Which of the following best describes the phenomenon of 'optimism bias'?

67. Which of the following is NOT a function performed by the 'management information' system?

68.

Which of the following statements relating to business-to-business research is/are true?

 i)Personal relationships between the marketer and the respondent are less important.

ii)The marketer needs to target the correct correspondent more carefully.

69. What is the 'range' of the following data: 1, 1, 2, 2, 2, 3, 3, 4?

70. What is the name for the test that assesses whether the difference between the mean score for a sample and that of the population as a whole is 'statistically significant'?

71. Which of the following is NOT an example of 'observational' market research?

72.

Which of the following is/are typical 'barriers to entry'?

i)Existing contracts held by the company

ii)Redundancy costs

iii)Equipment that cannot be sold or reconfigured

73. 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?

74. 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?

75. What is meant by the term 'hypothesis'?

76. What is the 'mean' of the following data: 3, 11, 5, 6, 7, 5, 6, 5?

77. What is the 'median' value of the following data: 1.5, 5, 3.5, 2 at a influence on the outcome.

78. What is the 'Fourt-Woodlock' model used to make predictions?

79. Which of the following conclusions should be drawn from the voting phenomenon commonly known as the 'Bradley effect' (or 'Wilder effect')?

80. Which of the following is NOT a characteristic of 'covert observational' market research

81. Which of the following is NOT an 'experimental' form of market research?

82.

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

83. Which of the following would NOT be a primary reason for analyzing demographic information collected as part of a survey?

84. 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?

85. Which of the following sources of market-research data would NOT contribute to a study on a retail company's customer conversion rate?

86. Which of the following is a statistical measure used to calculate how widely-spread a set of data is?

87. Which of the following situations would be LEAST likely to encourage a company to consider re-positioning itself?

88. Which of the following survey questions would be most likely to yield unbiased responses?

89. Which of the following MUST be true for a market that is 'price elastic'?

90. Because probabilistic predictions are not always accurate, market researchers may generate a representative sample of the possible future states. What is this forecasting approach known as?

91.

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.

92. Which of the following is NOT typically a qualitative method of market research?

93. Which of the following best describes the market research related term 'sugging'?

94. 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?

95. 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?

96. What is the 'modal' value of the following: 2, 2, 2, 3, 3, 4, 5, 5?

97. Which of the following goals is most commonly associated with the use of 'projective' techniques in market research?

98. 'Scenario planning' can be used to draw conclusions about the future state of a market. Which of the following best characterizes this approach?

99. In which of the following pieces of information would a mystery shopper NOT be fundamentally interested?

100. Which of the following best describes the purpose of 'Ad Tracking'?