Marketing Research Concepts Quiz

<p>A picture or description of a potential product or service. (C)</p> Signup and view all the answers

<p>To gain insights into customer needs and preferences, leading to successful marketing actions. (D)</p> Signup and view all the answers

<p>Assessing the technical feasibility of a new product idea. (D)</p> Signup and view all the answers

<p>Testing prototypes with consumers. (A)</p> Signup and view all the answers

<p>To determine the marketing strategy and financial projections for a product. (C)</p> Signup and view all the answers

<p>A product that has been thoroughly tested and meets established standards. (C)</p> Signup and view all the answers

<p>To assess the potential success of a product in a realistic market setting. (D)</p> Signup and view all the answers

<p>Product pricing (A)</p> Signup and view all the answers

<p>To visualize how consumers perceive products in relation to their competitors (D)</p> Signup and view all the answers

<p>Head-to-head positioning (C)</p> Signup and view all the answers

<p>Between meal snackers (D)</p> Signup and view all the answers

<p>To define a product's unique selling proposition and target market (B)</p> Signup and view all the answers

<p>The cost of reaching that segment (B)</p> Signup and view all the answers

<p>Placing signage in bookstores and utilizing targeted mobile ads (C)</p> Signup and view all the answers

<p>Changing the way consumers perceive a product in relation to its competitors (C)</p> Signup and view all the answers

<p>To group prospective buyers into segments based on common needs (B)</p> Signup and view all the answers

<p>To select a representative group and infer their opinions. (C)</p> Signup and view all the answers

<p>It can potentially increase sales, profit, and ROI (A)</p> Signup and view all the answers

<p>Semantic differential scale (C)</p> Signup and view all the answers

<p>Internal secondary data (D)</p> Signup and view all the answers

<p>It may be outdated or lack current relevance. (D)</p> Signup and view all the answers

<p>The validity of potential confounding variables (C)</p> Signup and view all the answers

<p>Census Bureau data (C)</p> Signup and view all the answers

<p>It helps in making decisions based on concrete data analysis and findings (A)</p> Signup and view all the answers

<p>To relate potential buyer segments to marketing actions and products (C)</p> Signup and view all the answers

<p>Observational data collection (B)</p> Signup and view all the answers

<p>Being exclusive to certain demographics only (A)</p> Signup and view all the answers

<p>Results of recent surveys conducted by the company (A)</p> Signup and view all the answers

<p>It saves time and reduces costs. (A)</p> Signup and view all the answers

<p>It simplifies operations without developing new products (D)</p> Signup and view all the answers

<p>Primary data (D)</p> Signup and view all the answers

<p>Customer Lifetime Value (C)</p> Signup and view all the answers

<p>A detailed description of a typical customer for a brand (C)</p> Signup and view all the answers

<p>Targeting customers based on their frequent visits to a specific store (A)</p> Signup and view all the answers

<p>Income Level (A)</p> Signup and view all the answers

<p>20% of customers generate 80% of a company's revenue (C)</p> Signup and view all the answers

<p>Customer lifetime value (C)</p> Signup and view all the answers

<p>Wendy's Meal Deal (A)</p> Signup and view all the answers

<p>Matching products to specific target markets based on segmentation variables (C)</p> Signup and view all the answers

The process of defining a marketing problem, collecting and analyzing information, and recommending actions.

A systematic method to lead marketing actions consisting of defining the problem, developing a research plan, and more.

Research that provides ideas about a vague problem using methods like interviews and focus groups.

Research that finds the frequency of occurrences or the relationship between two factors.

Research aimed at identifying cause-and-effect relationships between variables.

To understand public perception of a new product.

Selecting a representative group to gather opinions.

Generalizing from a sample to a larger group.

Previously recorded data applicable to current projects.

Data generated within the organization, like financials.

Data sourced from outside the organization for insights.

Saves time and costs, provides initial insights.

Data collected by observing actual behavior of individuals.

Questions that limit respondents to predetermined answers.

A scale used to measure feelings or attitudes towards a concept.

A rating scale to gauge opinions or attitudes.

Grouping potential buyers with similar needs for targeted marketing.

Framework relating segments of buyers to products.

Suggested steps based on data analysis for marketing actions.

Groups used in experiments to measure the effect of independent variables.

Assessing the outcomes of marketing actions post-implementation.

Factors used to identify suitable market segments for targeting.

The total potential sales volume for a specific market segment.

The anticipated rate of increase in a market segment over time.

The level of competition within a specific market segment.

The expenses involved in marketing to a specific segment.

The way a product is perceived in consumers' minds compared to competing products.

Positioning that seeks a unique place in a smaller, less competitive market.

A two-dimensional display showing consumer perceptions of brands or products.

Dividing a market based on mental/emotional attributes, lifestyle, and needs.

Segmenting markets based on observable actions or attitudes, like usage rate.

The quantity consumed during a specific period, often linked to sales.

80% of sales come from 20% of customers, highlighting key consumer focus.

The total financial worth of a customer to a company over their relationship.

Fictional characters created to represent target customers, aiding marketers.

Projecting sales for different products in target market segments.

Techniques for generating new product ideas, such as employee suggestions and competitor analysis.

The process of assessing new product ideas to discard those not worth pursuing.

Analyzing a new product's features and marketing strategy to forecast its success and impact.

The stage that transforms product ideas into prototypes ready for testing.

Introducing a product to consumers in realistic settings to gauge purchase intent.