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BUSML 3250 Midterm 2 Exam Questions and Answers
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BUSML 3250 Midterm 2 Exam Questions and Answers
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BUSML 3250 Midterm 2 Exam Questionsand Answers
Semantic Differential Scale - Answer-A five-point scale in which the opposite ends have
one or two-word adjectives that have opposite meanings
Likert Scale - Answer-respondent indicates the extent to which he or she agrees or
disagrees with a statement
Dichotomous Question - Answer-The simplest form of a fixed alternative question that
allows only a "yes" or "no" response.
Sensitivity Analysis Question - Answer-when accessing a database, ask "what if"
questions to determine how hypothetical changes in product or brand drivers can affect
sales
Direct Forecast - Answer-Involves estimating the value to be forecast without any
intervening steps
What 2 things do research objectives goals have to be? - Answer-specific
measurable
3 Types of Marketing Research - Answer-Descriptive Research
(Survey, Extent of relationship between 2 things, frequency something happens)
Exploratory Research
(to analyze data)
Causal Research
(why if one thing happens then another thing happens)
5 Steps of Marketing Research Approach - Answer-Define the Problem
Develop the Research Plan
Collect Relevant Information
Develop Findings
Take Marketing Actions
5 Steps of Segmenting & Targeting Process - Answer-1. Group potential buyers into
SEGMENTS
2. Group products to be sold into categories
3. Develop a market-product grid and estimate size of markets
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