TOP 10 Questions

Ch 4: Conducting Marketing Research And Forecasting Demand

Mirasol Capala

September 2011

http://solcapala.blogspot.com/

1. Which of the following is false about syndicated service research?

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A. It is usually the type of research that large company uses

for their marketing research.

B. This type of research is very affordable.

C. Type of marketing research that gather consumer and trade

information.

D. Type of research that you can sell for a fee.

E. Nielsen Media Research specializes in this type of

research.

Effective Marketing Research System for Large Companies

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Zpryme, a leading global research firm, today announced its latest

market research practice launch, China Insights, service

focused on the China consumer and business marketplace.

Custom marketing research

Syndicated-service research

Specialty-line marketing research

Type of research that gather consumer and trade information, which research firm sell for a fee.

1. Which of the following is false about syndicated service research?

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A. It is usually the type of research that large company uses

for their marketing research.

B. This type of research is very affordable.

C. Type of marketing research that gather consumer and trade

information.

D. Type of research that you can sell for a fee.

E. Nielsen Media Research specializes in this type of

research.

2. Which of the following statement is false about effective marketing research system for small companies?

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A. Small companies hire the services of a marketing research

firm to conduct crowd casting because it is more affordable.

B. Specialty –line marketing research is an effective marketing

research system for small companies.

C. Small companies uses the internet as an effective

marketing research system.

D. Many small companies routinely visit their competitors and

use it for their marketing research.

E. Research conducted by small companies are more creative

and affordable.

Effective Marketing Research System for Small Companies

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Crowdcasting Using the Internet Checking out rivals

Research conducted in creative and affordable ways.

Example of Marketing Research for Small Companies

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Using the Internet

•Small companies use Twitter to create niche markets•Twitter is a great place to look at what people are discussing, buying, suggesting and current overall trends.

Use the Top 50 of All Time,

Tweetstatsto see fresh,

relevant and current

trends for free.

2. Which of the following statement is false about effective marketing research system for small companies?

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A. Small companies hire the services of a marketing research

firm to conduct crowd casting because it is more affordable.

B. Specialty –line marketing research is an effective

marketing research system for small companies.

C. Small companies uses the internet as an effective

marketing research system.

D. Many small companies routinely visit their competitors and

use it for their marketing research.

E. Research conducted by small companies are more creative

and affordable.

3. Effective marketing research follows the following guidelines except for?

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A. Develop the research plan by setting specific research

objectives.

B. Decide whether to collect their own data or use data that

already exist.

C. Collect the information and then develop the research plan-

which research approach, which research instruments to

use.

D. Make the decision after presenting the findings.

E. Analyze the information.

Effective Marketing Research Follows the 6 Marketing Research Steps/Guidelines

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•Firms should set specific research objectives.

•Firms must decide whether to collect their own data or use data that already exist.

•They must also decide which research approach, which research instruments to use.

•They must decide on a sampling plan and contact methods.

Example of Company following the 6 Steps of Marketing Research Process

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Step 1: P&G wanted to enter the Chinese market with a sound strategy after Chinese experts warned the company that

nobody in China could afford Head & Shoulders.

Step 2: P&G developed a research plan to know the common problem among

Chinese consumers.

Step 3: P&G collected information through online

research, surveys and telephone interviews.

Step 4: They have analyze the information and did several

analysis to test the strength of the conclusions.

Step 5: The company's market research revealed that though there were several

shampoo marketers in China, there was no shampoo that could remove dandruff from

the scalp. Dandruff was a common hair problem among the Chinese consumers.

Step 6: P&G hence launched Head & Shoulders, a brand that was known

for its anti-dandruff properties. Within three years of its launch,

Head & Shoulders became China's bestselling shampoo, even though it was priced three times higher than

the local brands.

3. Effective marketing research follows the following guidelines except for?

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A. Develop the research plan by setting specific research

objectives.

B. Decide whether to collect their own data or use data that

already exist.

C. Collect the information and then develop the research

plan-which research approach, which research

instruments to use.

D. Make the decision after presenting the findings.

E. Analyze the information.

4. The following are approaches to marketing research except for?

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A. Observation

B. Survey

C. Focus Group Discussion

D. Experiments

E. Qualitative Research

Choosing the Research Approaches for your Marketing Research

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Observation Behavioural Data Experiments

Focus Group Discussion Surveys

4. The following are approaches to marketing research except for?

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A. Observation

B. Survey

C. Focus Group Discussion

D. Experiments

E. Qualitative Research

5. Which research instrument is the most common instrument used to collect primary data?

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A. Questionnaire

B. Survey

C. Focus Group Discussion

D. Experiments

E. Qualitative Research

Different Types of Research Instruments

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QuestionnaireThe most common instrument

to collect primary data.

Technological Devices

Qualitative Research

5. Which research instrument is the most common instrument used to collect primary data?

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A. Questionnaire

B. Survey

C. Focus Group Discussion

D. Experiments

E. Qualitative Research

6. When the marketing researchers design a sampling plan, which question do they need to ask in order to design the research sampling unit?

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A. Who should we survey?

B. How should we choose the respondents?

C. How many people should we survey?

D. Where should we conduct the research?

E. When is the best time to conduct the research?

Sampling Plan

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Sampling UnitWho should we survey?

Sampling SizeHow many people should we survey?

Sampling ProcedureHow should we choose the

respondents?

6. When the marketing researchers design a sampling plan, which question do they need to ask in order to design the research sampling unit?

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A. Who should we survey?

B. How should we choose the respondents?

C. How many people should we survey?

D. Where should we conduct the research?

E. When is the best time to conduct the research?

7. When the marketing researcher decides to contact the subjects, which is the best method for gathering information quickly?

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A. Personal Interview

B. Online Interview

C. Mail Questionnaire

D. Group Interview

E. Telephone Interview

Contact Methods

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Mail QuestionnaireThe best way to

contact people but

response rate is low.

Personal InterviewThe most versatile method but most

expensive and subject to interviewer bias.

Telephone InterviewThe best method for

gathering information quickly, the response rate is typically

higher .

Online InterviewUse the internet to gather info,

offer an incentive to attract people to answer questionnaires.

7. When the marketing researcher decides to contact the subjects, which is the best method for gathering information quickly?

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A. Personal Interview

B. Online Interview

C. Mail Questionnaire

D. Group Interview

E. Telephone Interview

8. Forecasting and demand measurement are important, except for what department?

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A. Finance

B. Customer Service

C. Marketing

D. Purchasing

E. HR

Forecasting and Demand MeasurementWhy Study Demand?

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FINANCE OPERATIONS PURCHASING HR MARKETING

The cash that is required for operations and investments

To establish capacity and output levels

To get the right amount of supplies

To get the right number of workers

To prepare sales forecasts

8. Forecasting and demand measurement are important, except for what department?

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A. Finance

B. Customer Service

C. Marketing

D. Purchasing

E. HR

9. ____________is the type of market demand which possessed qualified available market that the company decides to pursue?

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A. Potential Market

B. Available Market

C. Penetrated Market

D. Target Market

E. Black Market

Types of Market Demands

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PotentialMarket

Available Market Target

Market

Penetrated Market

Consumers have income, access to

product

Consumers have interest, income and access to

product

Qualified available

market the company decides to

pursue

Sets of customers who are buying

company’s products

9. ____________is the type of market demand which possessed qualified available market that the company decides to pursue?

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A. Potential Market

B. Available Market

C. Penetrated Market

D. Target Market

E. Black Market

10. Which statement is false when estimating future market demand?

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A. Good forecasting is a key factor in success of the

companies

B. In forecasting future demand it is reliable to obtain

information from the text and online poll.

C. Expert opinion can be use to obtain future market

forecasts from dealers, distributors, suppliers, etc.

D. Firms can develop sales forecasts on the basis of past

sales.

E. Survey of Buyer’s Intention is useful in estimating demand

for industrial products, consumer durables and new

products.

Estimating Future Demand

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All forecasts are built on one of 3 information bases: what people say, what people do, or what people have done. Good forecasting is a key factor in success of the

companies.

Survey of Buyer’s Intention

Useful in estimating demand for industrial products,

consumer durables and new products.

Expert OpinionObtain forecasts from

experts, including dealers, distributors, suppliers,

marketing consultants, and trade associations.

Past- Sales AnalysisFirms can develop sales

forecasts on the basis of past sales.

10. Which statement is false when estimating future market demand?

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A. Good forecasting is a key factor in success of the

companies

B. In forecasting future demand it is reliable to obtain

information from the text and online poll.

C. Expert opinion can be use to obtain future market

forecasts from dealers, distributors, suppliers, etc.

D. Firms can develop sales forecasts on the basis of past

sales.

E. Survey of Buyer’s Intention is useful in estimating demand

for industrial products, consumer durables and new

products.

TOP 10 Questions

Ch 4: Conducting Marketing Research And Forecasting Demand

Mirasol Capala

September 2011

http://solcapala.blogspot.com/