Market Analysis and Decision Making
Final Test Solutions
Course Introduction
This course explores the essential concepts and techniques involved in market analysis and the decision-making process within organizations. Students will learn how to collect and interpret market data, assess market trends, and evaluate competitive environments using both qualitative and quantitative tools. The course covers topics such as consumer behavior, demand forecasting, segmentation, targeting, and positioning. Emphasis is placed on developing critical thinking and analytical skills to support strategic business decisions, enabling students to make informed choices that enhance organizational success in dynamic marketplaces.
Recommended Textbook
Basic Marketing Research Using Microsoft Excel Data Analysis 1st Canadian Edition by Alvin
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C. Burns
Chapter 1: Introducing Marketing Research
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84 Flashcards
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Sample Questions
Q1) One of the key issues facing the latest MRIA code centre is the rights of the respondent, especially with regard to privacy and interviewing children.
A)True
B)False
Answer: True
Q2) The term strategy is borrowed from military jargon that stressed developing plans of attack to minimize the enemy's ability to respond.
A)True
B)False
Answer: True
Q3) A packaged goods company focused on "tweens" wants to determine the effectiveness of their new print advertising campaign using eye movement research. What type of limited-service supplier firm should they hire?
A) A field service firm
B) A specialized research technique firm
C) A market segment specialist
D) A sample design and distribution firm
Answer: B
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Chapter 2: The Marketing Research Process
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Sample Questions
Q1) Melissa Tudor has just acquired the Yellow Pages as a new client. The Yellow Pages wants to know how much of an increase in customers' awareness will be achieved by having ads that use colour instead of black and white. That way they know how to sell the benefits of using colour to their business customers. In order to find the answer to this question, Melissa must conduct:
A) exploratory research
B) descriptive research
C) causal research
D) longitudinal research
E) cross sectional research
Answer: C
Q2) Invitations to bid and requests for proposals are sensitive issues in terms of appropriate ethical behaviour.
A)True
B)False
Answer: True
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Page 4
Chapter 3: Research Design
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Sample Questions
Q1) Which of the following symbols represents the random assignment of subjects?
A) S
B) R
C) O
D) X
E) A Answer: B
Q2) Experimental designs provide procedures for devising an experimental setting, such that a change in a dependent variable may be attributed solely to the change in the independent variable.
A)True
B)False
Answer: True
Q3) A pretest refers to measuring the dependent variable prior to changing the independent variable.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Using Secondary Data and Online Information
Databases
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Access to secondary data that may be useful for marketing research purposes may be found at www.secondarydata.com.
A)True
B)False
Q2) Which has done more to bring about fast and easy access to secondary data since the Gutenberg Press?
A) the Information Access Act of 2003
B) Bill Gates
C) the need for information
D) the Internet
E) cable TV
Q3) Whereas market tracking studies can be done at the retail store level by either scanning data or auditing, market tracking cannot be conducted at the household level.
A)True
B)False
Q4) Information searching skills can be greatly improved by finding standard subject headings.
A)True
B)False
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Chapter 5: Qualitative Research Methods
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Sample Questions
Q1) Which of the following statements does NOT reflect the use of a galvanometer as a research method?
A) When one encounters an interesting stimulus, the electrical impulses in the body become excited.
B) The galvanometer is a device that determines excitement levels by measuring blood flow.
C) When a participant is hooked up to a galvanometer they may be nervous and produce false readings.
D) The galvanometer requires sensing pads to be attached to a participant's body.
E) The galvanometer can be useful in testing sexually oriented stimuli.
Q2) A combination of qualitative and quantitative research is referred to as pluralistic research.
A)True
B)False
Q3) Traditional focus groups have 6 to 12 participants and are conducted in a dedicated room with a one-way mirror for client viewing.
A)True
B)False
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Chapter 6: Quantitative Data Collection Methods
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Sample Questions
Q1) Alberville Research specializes in conducting completely automated telephone surveys (CATS). As such, which of the following would NOT be done at Alberville Research?
A) customer satisfaction studies
B) service quality monitoring
C) election day polls
D) warranty registration
E) website evaluations
Q2) Online surveys are fast but better-quality data can be obtained from established panels of respondents.
A)True
B)False
Q3) Having an independent party call back a sample of each interviewer's respondents to verify that they took part in the survey is a way to avoid which of the following?
A) interviewer cheating
B) human error
C) adaptability
D) interviewer rapport
E) survey sorting
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Page 8
Chapter 7: Survey Measurement Scales
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Sample Questions
Q1) Rick Irizarry of Irizarry Insurance Company is conducting a survey of potential customers. Age is an important issue in determining life insurance premiums. Rick considers asking for age in the following way: ___ 16 to 19
___ 20 to 25
___ 26 to 35
___ 36 to 50
___ over 50
Rick should consider the level of the measurement scale to be:
A) nominal
B) ordinal
C) interval
D) ratio
E) open-ended
Q2) When a scale has a "true zero" it is a nominal scale.
A)True
B)False
Q3) All scaled-response formats must have a middle neutral response option.
A)True
B)False
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Page 9
Chapter 8: Questionnaire Design
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Sample Questions
Q1) There is nothing wrong with the following question: "As a BMW owner, you are satisfied with your car, aren't you?"
A)True
B)False
Q2) There is nothing wrong with the following question: "How much do you think you would pay for a pair of sunglasses that will protect your child's eyes from the sun's ultraviolet rays which are known to cause permanent blindness?"
A)True
B)False
Q3) A double-barreled question is one that:
A) achieves two objectives simultaneously.
B) has two subjects and two verbs.
C) poses two different questions in one question and should be used to shorten long surveys.
D) poses two different questions in one question and should be avoided.
E) feels like an attack on the respondent.
Q4) Leading questions that lead with phonics deal with question content.
A)True
B)False
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Chapter 9: Sampling
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Sample Questions
Q1) Consider that we have nominal data and the responses are "Yes" or "No" to the question: "The next time you order pizza, will you order Domino's?" Which of the following sets of responses shows the MOST variability?
A) 99 percent say "Yes" and 1 percent say "No"
B) 80 percent say "Yes" and 20 percent say "No"
C) 70 percent say "Yes" and 30 percent say "No"
D) 60 percent say "Yes" and 40 percent say "No"
E) 51 percent say "Yes" and 49 percent say "No"
Q2) Using the confidence interval formula for calculating sample size, the percentage level of confidence desired to the estimate of the population values must be determined and is used in the formula in the form of the z-value it represents.
A)True
B)False
Q3) If a population were not distributed symmetrically, you would use:
A) simple random sampling.
B) systematic sampling.
C) cluster sampling.
D) stratified sampling.
E) unbalanced sampling.
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Page 11
Chapter 10: Data Collection and Basic Descriptive Statistics
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Sample Questions
Q1) Summarizing categorical variables with XL Data Analyst requires you to select "Summarize," "Percents," and then select the variable and click "OK."
A)True
B)False
Q2) Hiring a reputable data collection company that has excellent training, good supervision, and built-in validation techniques is a good way to reduce what type of error?
A) respondent
B) fieldworker
C) bogus responses
D) misrepresentation
E) nonresponse
Q3) According to your text, refusal rates for telephone surveys are estimated to be as high as:
A) 83%
B) 75%
C) 50%
D) 33%
E) 25%
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Page 12
Chapter 11: Population Estimates and Hypothesis Testing
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Sample Questions
Q1) The standard error is a measure of the variability in a sample based on the variability found in the population.
A)True
B)False
Q2) Another name for a directional hypothesis test is a(n):
A) tail-end test.
B) one-tailed test.
C) greater-than test.
D) single-sided test.
E) one-sided test.
Q3) Which of the following is an example of a directional hypothesis?
A) The population percentage is equal to 60%.
B) The population percentage is not equal to 60%.
C) The population mean is equal to $50.
D) The population percentage is less than 70%.
E) The population mean is equal to 100.
Q4) Forming a directional hypothesis means that we are still seeking a direction for the hypothesis.
A)True
B)False
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Chapter 12: Testing of Differences
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Sample Questions
Q1) Marketing segmentation is a vital marketing strategy concept. As such, a marketing researcher is always hoping for the:
A) null hypothesis to be supported.
B) alternative hypothesis results to be negative.
C) null hypothesis to not be supported.
D) alternative hypothesis that a difference does not exist to be voided.
E) null hypothesis to be accepted over the alternative hypothesis.
Q2) In XL Data Analyst, the target variable is the variable on which the groups will be compared.
A)True
B)False
Q3) If the null hypothesis is true, the distribution of difference with repeated samplings follows the normal curve, with an average equal to ____ and a standard error equal to
A) 1; 0
B) 1; 95%
C) 0; 95%
D) 0; 1
E) 0; 0.05
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Page 14
Chapter 13: Relationships Between Variables
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Sample Questions
Q1) To use a correlation, you must first establish that it is statistically significant from one.
A)True
B)False
Q2) A multiple regression equation is best described by which of the following forms?
A) The independent variable is predicted by the intercept plus a series of values of the slope times each dependent variable.
B) The independent variable is predicted by the slope plus a series of values of the intercept times each dependent variable.
C) The dependent variable is predicted by the intercept plus a series of values of the slope times each independent variable.
D) The dependent variable to be predicted is equal to the intercept plus a series of values of the slope times each independent variable.
E) y = a + bx
Q3) Significant association relationships are always causal.
A)True
B)False
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15
Chapter 14: Communicating the Research Results
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Sample Questions
Q1) The body of the report consists of the following: introduction, research objectives, methodology, results, limitations, and conclusions and recommendations.
A)True
B)False
Q2) Which section of the marketing research report contains the major portion of the report and presents the findings of the research?
A) method
B) body
C) results
D) conclusions
E) recommendations
Q3) A(n) _____________ visual is one that is totally objective in terms of how information is presented in the research report.
A) numerical
B) ethical
C) figure
D) data set
E) professional
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