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MKT 3413 EXAM 2 WU Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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MKT 3413 EXAM 2 WU Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • July 10, 2024
  • 34
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • mkt 3413 exam 2 wu questions with 100 actual cor

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The research design is a framework or blueprint for conducting the marketing
research project that specifies the procedures necessary to obtain the information
needed to structure and/or solve the marketing research problem. - CORRECT
ANSWER-TRUE

A type of research design that has as its primary objective the provision of insights
into and comprehension of the problem situation confronting the researcher is called
conclusive research. - CORRECT ANSWER-FALSE

Exploratory research is research conducted to gain ideas and insight into the
problem confronting the management or the researcher. - CORRECT
ANSWER-TRUE

Conclusive research should be used when management realizes a problem exists
but does not yet understand why. - CORRECT ANSWER-FALSE

Conclusive research is conducted on a small and nonrepresentative sample, so the
findings should be regarded as tentative and should be used as building blocks for
further research. - CORRECT ANSWER-FALSE

Research designed to assist the decision-maker in determining, evaluating, and
selecting the best course of action in a given situation is called subjective research. -
CORRECT ANSWER-FALSE

Conclusive research is based on the assumption that the researcher has an accurate
understanding of the problem at hand. - CORRECT ANSWER-TRUE

According to the text, the objective of exploratory research is to test specific
hypotheses and examine specific relationships. - CORRECT ANSWER-FALSE

Exploratory research is typically more formal and structured than conclusive
research. - CORRECT ANSWER-FALSE

The objective of causal research is discovery of ideas and insights. - CORRECT
ANSWER-FALSE

A characteristic of descriptive research is that it is often the front end of total
research. - CORRECT ANSWER-FALSE

Descriptive research is a type of exploratory research that has as its major objective
the description of something — usually market characteristics or functions. -
CORRECT ANSWER-FALSE

,A cause-and-effect study is a major type of descriptive study. - CORRECT
ANSWER-FALSE

A type of research design involving the one-time collection of information from any
given sample of population elements is called longitudinal design. - CORRECT
ANSWER-FALSE

Cross-sectional design is a type of research design involving a fixed sample of
population elements that is measured repeatedly. - CORRECT ANSWER-FALSE

According to the text, a longitudinal design provides a series of pictures, which track
the changes that take place over time. - CORRECT ANSWER-TRUE

A panel consists of a sample of respondents, generally households that have agreed
to provide information over an extended period. - CORRECT ANSWER-TRUE

Causal research is a type of conclusive research whose major objective is to obtain
evidence regarding cause-and-effect relationships. - CORRECT ANSWER-TRUE

According to the text, the main method of causal research is a panel. - CORRECT
ANSWER-FALSE

When little is known about the problem situation, it is desirable to begin with
descriptive research. - CORRECT ANSWER-FALSE

Social media can be appropriate for conducting exploratory and descriptive research
but not causal research. - CORRECT ANSWER-FALSE

Secondary data is data originated by the researcher for the specific purpose of
addressing the research problem. - CORRECT ANSWER-FALSE

Primary data represents any data that have already been collected for purposes
other than the problem at hand. - CORRECT ANSWER-FALSE

According to the text, the collection process of secondary data is rapid and easy
compared to the collection process of primary data. - CORRECT ANSWER-TRUE

Compared to the collection cost of primary data, secondary data is more expensive. -
CORRECT ANSWER-FALSE

As compared to primary data, secondary data are collected rapidly and easily, at a
relatively low cost, and in a short time. - CORRECT ANSWER-TRUE

,According to the text, a basic rule of research is to examine secondary data first. -
CORRECT ANSWER-TRUE

The value of secondary data is typically limited by their degree of fit with the current
research problem and by concerns regarding data accuracy. - CORRECT
ANSWER-TRUE

The research design specifications or the methodology used to collect secondary
data should be examined to identify sources of bias. - CORRECT ANSWER-TRUE

Availability is mentioned in the text as a primary criterion for evaluating secondary
data. - CORRECT ANSWER-FALSE

An overall indication of the dependability of the data may be obtained by examining
the cost of the source. - CORRECT ANSWER-FALSE

External data is data that originates outside of the client organization. - CORRECT
ANSWER-TRUE

Accounting records, sales reports, and internal experts are typical sources of internal
secondary data. - CORRECT ANSWER-TRUE

Data mining is marketing that involves using powerful computers with advanced
statistical and other software to analyze large databases to discover hidden patterns
in the data. - CORRECT ANSWER-TRUE

CRM databases can be analyzed in terms of a customer's activity over the life of the
business relationship. - CORRECT ANSWER-TRUE

External sources may be broadly classified as general business/non-government
data, government data, or syndicated data. - CORRECT ANSWER-TRUE

A focus group is an example of a general business source of external secondary
data. - CORRECT ANSWER-FALSE

A company's blog, Facebook page, or Twitter account can generate rich internal
secondary data. - CORRECT ANSWER-TRUE

The posts from social media such as blogs or Facebook "fan pages" give an
informative account of consumer perception and preference with regard to the
problem at hand. - CORRECT ANSWER-TRUE

Companies that collect and sell common pools of data designed to serve information
needs

, shared by a number of clients are called syndicated services or syndicated sources.
- CORRECT ANSWER-TRUE

Customized services make their money by collecting data and designing research
products that fit the information needs of more than one organization. - CORRECT
ANSWER-FALSE

Interviews with a large number of respondents using a predesigned questionnaire
are called observations. - CORRECT ANSWER-FALSE

Panel surveys collect data on the same set of variables at regular intervals, each
time sampling from a new group of respondents. - CORRECT ANSWER-FALSE

Periodic surveys measure the same group of respondents over time but not
necessarily on the same variables. - CORRECT ANSWER-FALSE

An advantage of scanner volume-tracking data is being the most flexible way of
obtaining data. - CORRECT ANSWER-FALSE

Verifications of product movement by examining physical records or performing
inventory analysis are characteristics of audits. - CORRECT ANSWER-TRUE

Audits can help consumer product firms determine the size of the total market and
distribution of sales by type of outlet and by different regions. - CORRECT
ANSWER-TRUE

Psychometrics refers to the psychological profiles of individuals and to
psychologically based measures of lifestyle, such as brand loyalty and risk taking. -
CORRECT ANSWER-FALSE

"Lifestyles" refer to the distinctive models of living of a society or some of its
segments. - CORRECT ANSWER-TRUE

According to the text, surveys are the primary means of obtaining information about
consumer's; motives, attitudes, and preferences. - CORRECT ANSWER-TRUE

Scanner data are data obtained by passing merchandise over a laser scanner that
reads the UPC code from the packages. - CORRECT ANSWER-TRUE

Scanner data that provides information on purchases by brand, size, price, and
flavor or formulation are called volume-tracking data. - CORRECT ANSWER-TRUE

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