Below :https://youtu.be/b-8NkKBumHM
1. Which
TWO of the following situations may cause ‘response bias’?
i)Emotive
language in a survey question
ii)Delay between designing a survey and using it
iii)Using a voluntary-response method that leads to respondents not being representative of the population
iv)Using qualitative rather than quantitative methods
ii)Delay between designing a survey and using it
iii)Using a voluntary-response method that leads to respondents not being representative of the population
iv)Using qualitative rather than quantitative methods
Answers:
1.
i and ii only
2. i and iii only
3. ii and iv only
4. iii and iv only
2. What
is the name for the test that assesses whether the difference between the mean
score for a sample and that of the population as a whole is ‘statistically
significant’?
Answers:
1.
W-test
2. X-test
3. Y-test
4. Z-test
3. What
is the ‘mean’ of the following data: 3, 11, 5, 6, 7, 5, 6, 5?
Answers:
1.
5
2. 5.5
3. 6
4. Impossible to tell
4. Which
of the following types of companies would be LEAST interested in ‘coolhunting’
as a form of market research?
Answers:
1.
A garment/fabric store
2. A supermarket
3. A store specializing in
electronic gadgets
4. A record
company
5. What
type of measure would be gained by asking consumers to choose which company
from a list was the sponsor of an advertisement?
Answers:
1.
Unaided awareness
2. Aided awareness
3. Recognition
4. Preference
6. For
what purpose is the ‘Schmidt-Hunter’ technique of meta-analysis used?
Answers:
1.
To determine the reliability of data.
2. To combine the results of
multiple studies.
3. To determine the validity
of data.
4. To identify the optimal
target market for a product.
7. What
is the ‘modal’ value of the following: 2, 2, 2, 3, 3, 4, 5, 5?
Answers:
1.
2
2. 3
3. 3.25
4. Impossible to tell
8. 50
people are asked to respond to a question with the answers Yes/No/Don’t know on
two occasions. On the first occasion, the responses were 15/25/10 and on the
second 18/26/6.
What is
the change in the number of positive responses as a percentage of the whole
sample?
Answers:
1.
3%
2. 6%
3. 9%
4. Impossible to tell
9. Which
of the following sources of market-research data would NOT contribute to a
study on a retail company’s customer conversion rate?
Answers:
1.
Monitoring the number of hits on the company web site
2. Counting
the number of customers entering the company’s stores
3. Sales data from checkouts
4. Using a mystery shopper
10. What
is the ‘range’ of the following data: 1, 1, 2, 2, 2, 3, 3, 4?
Answers:
1.
2.5
2. 3
3. 8
4. Impossible to tell
11. Which
of the following statements is/are true?
i)Comparing
weighted scores for key industry success factors (e.g. economies of scale)
between competitors is known as ‘competitor array analysis’.
ii)Benchmarking is an effective means of identifying the best industry practice.
ii)Benchmarking is an effective means of identifying the best industry practice.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i) is true.
3. Only (ii) is true.
4. Neither is true.
12. Which
of the following best describes ‘secondary’ market research?
Answers:
1.
Research that is designed to corroborate
previous research
2. Market research that
relates to other companies rather than end consumers
3. The collation of data that
was previously gathered for different pieces of research
4. Research based on data that
relates to consumers’ previous habits rather than their future intentions
13. In
which of the following pieces of information would a mystery shopper NOT be
fundamentally interested?
Answers:
1.
Timeliness of response
2. Technical
specifications of a product
3. Staff customer-service
skills
4. Levels of hygiene
14. What
is meant by the expression ‘Type II error’?
Answers:
1.
An error caused by bias in responses
2. An error caused by
non-representative character of a sample
3. The
rejection of a true hypothesis
4. An error caused by too
small a size of the sample to draw a meaningful conclusion
15. What
does a correlation of ‘-1’ between two variables indicate?
Answers:
1.
That there is a slight negative correlation
between the variables.
2. That there is no
correlation between the variables.
3. That there is a perfect
negative correlation between the variables.
4. That the variables are
independent.
16. Which
of the following is NOT a characteristic of ‘covert observational’ market
research?
Answers:
1.
The activity is controlled and, therefore, yields consistent
results.
2. The
subjects’ approval need not be sought.
3. Results can be analyzed
after the event.
4. Behavior is not affected by
the researcher.
17. Which
of the following is NOT a component of the ‘marketing research mix’?
Answers:
1.
Purpose
2. Population
3. Product
4. Publication
18. A
PEST analysis can be used to identify the external factors affecting a market.
What does the ‘P’ of PEST stand for?
Answers:
1.
Product
2. Promotion
3. Political
4. Pricing
19. Which
of the following MUST be true for a market that is ‘price elastic’?
Answers:
1.
A price cut causes total revenue to decrease.
2. A price increase causes
total revenue to decrease.
3. A price cut causes the number
of units sold to increase.
4. A price increase causes the
number of units sold to increase.
20. If
the following responses were received regarding a statement in a survey, what
is the percentage of those who opposed the statement?
Strongly
agree: 86
Agree: 212
Neither agree Nor disagree: 127
Disagree:62
Strongly disagree:13
Agree: 212
Neither agree Nor disagree: 127
Disagree:62
Strongly disagree:13
Answers:
1.
5%
2. 15%
3. 20%
4. Impossible to tell
21. If a
company commissioned market research to look at the potential effect of
changing an attribute of a product (e.g. its colour), what specific type of
market research would it be?
Answers:
1.
Causal
2. Observational
3. Secondary
4. Qualitative
22. Which
of the following is NOT an ‘experimental’ form of market research?
Answers:
1.
Traffic audit
2. Pilot roll-out
3. Blind test
4. Extended user test
23. Which
of the following is/are problems associated with surveys as a method of market
research?
i)They
cannot access a large sample size.
ii)There is potential for response bias.
ii)There is potential for response bias.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i) is true.
3. Only (ii) is true.
4. Neither is true.
24. Which
of the following is an example of a ‘closed’ question?
Answers:
1.
“Why do you get up early in the morning?”
2. “Who is your favorite
baseball player?”
3. “When shall we go to the
restaurant?”
4. “Do you
like Mozart?”
25. Which
of the following situations would be LEAST likely to encourage a company to
consider re-positioning itself?
Answers:
1.
A pronounced change in the economic climate
2. A
reduction in production costs
3. A sustained fall in sales
4. A large entrant to the
market
26.
Companies may be forced to remain in an unprofitable market because they have,
for example, invested heavily in infrastructure. What are these factors known
as?
Answers:
1.
Golden handcuffs
2. Barriers to exit
3. Escape clauses
4. Transfer
costs
27. Which
of the following conclusions should be drawn from the voting phenomenon
commonly known as the ‘Bradley effect’ (or ‘Wilder effect’)?
Answers:
1.
People’s behavior does not necessarily follow
their stated intentions.
2. People do not consume as
much of a product as they say they will.
3. People are, ultimately,
less concerned about ethical issues than financial ones.
4. People will generally see
through false claims.
28. Which
of the following problems is caused by ‘collinearity’ within data?
Answers:
1.
It exaggerates the potential market.
2. It
causes less important factors to have a disproportionate influence on the
outcome.
3. It prevents the analysis of
pricing-related factors.
4. It makes it impossible to
tell which of a number of factors caused a particular behavior.
29. If
25% of the respondents reported that they would buy product A and 48% reported
they would buy product B, how many respondents would buy both?
Answers:
1.
12%
2. 23%
3. 36.5%
4. Impossible
to tell
30. What
is the ‘Fourt-Woodlock’ model used to make predictions?
Answers:
1.
The sales breakdown of a product by different age groups
2. Product
sales, based on the number of trial purchases converted into repeat purchases
3. Seasonal variation in
demand for a product
4. Sales volumes at each stage
of the product life-cycle
31. What
sub-set of a set of data is covered by the ‘box’ element of a box-and-whisker
diagram (or ‘box plot’)?
Answers:
1.
The first and second quartiles
2. The
second and third quartiles
3. The third and fourth
quartiles
4. The first and fourth
quartiles
32. What
is the name given to the effect whereby people carry out an activity
differently if the management is taking an interest in or monitoring them?
Answers:
1.
Eddington effect
2. Fowlds effect
3. Hawthorne
effect
4. Norton effect
33.
Market research can be used to characterize a particular market. Which of the
following characterizes a ‘perfect’ market?
Answers:
1.
High barriers to entry, many sellers
2. High barriers to entry, few
sellers
3. Low
barriers to entry, few sellers
4. Low barriers to entry, many
sellers
34. Which
of the following statements is/are true?
i)The
data on which secondary market research is based is unlikely to be tailored
precisely to the requirements of the task.
ii)Secondary market research tends to be more expensive than primary research.
ii)Secondary market research tends to be more expensive than primary research.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i) is true.
3. Only (ii) is true.
4. Neither is true.
35. What
does it mean to say that a test is “significant at the 2% level”?
Answers:
1.
That 2% of the respondents agreed with the
assertion.
2. That 98% of the respondents
agreed with the assertion.
3. That 52% of the respondents
agreed with the assertion.
4. That there is a 2% chance
of a false-positive result.
36.
Forecasting is made difficult by the fact that tiny initial variations can have
significant long-term effects. What is this phenomenon known as?
Answers:
1.
Elephant effect
2. Butterfly
effect
3. Hummingbird effect
4. Grasshopper effect
37. Which
of the following goals is most commonly associated with the use of ‘projective’
techniques in market research?
Answers:
1.
To identify the target market for a product
2. To identify the best
mediums in which to advertise a product
3. To identify how to increase
market share
4. To
identify the feelings associated with a brand
38. Which
of the following is NOT a problem associated with postal surveys?
Answers:
1.
Follow-up questions cannot be asked.
2. Respondents do not get time
to consider responses.
3. Response rate is low.
4. Collating
data is time-consuming.
39. Which
of the following is a statistical measure used to calculate how widely-spread a
set of data is?
Answers:
1.
Standard deviation
2. Correlation
3. Regression analysis
4. Median
40. Which
of the following is/are typical problems associated with ‘observational’ market
research?
i) It
increases the potential for bias.
ii) It reveals little about motivation.iii) It relies on the honesty of the participants.
ii) It reveals little about motivation.iii) It relies on the honesty of the participants.
Answers:
1.
None of the above
2. i only
3. ii only
4. iii only
41. Which
of the following best describes the phenomenon of ‘optimism bias’?
Answers:
1.
The tendency to assume that things will work
out well
2. The tendency to assume that
things will work out badly
3. The overestimation of low-probability
negative outcomes
4. The underestimation of
low-probability positive outcomes
42. Which
of the following is true of a market with a ‘zero-profit condition’?
Answers:
1.
New companies are unlikely to enter because profit margins are
low.
2. Only not-for-profit
organizations are allowed.
3. New
companies can easily enter the market, preventing those in the market from
making high profits.
4. New entrants will make a
profit only after having been several years in the market.
43. It is
important that surveys actually measure what they are intended to. Which of the
following terms describes this consideration?
Answers:
1.
Validity
2. Reliability
3. Significance
4. Generalizability
44. Which
of the following is/are typical ‘barriers to entry’?
i)Existing
contracts held by the company
ii)Redundancy costs
iii)Equipment that cannot be sold or reconfigured
ii)Redundancy costs
iii)Equipment that cannot be sold or reconfigured
Answers:
1.
None of the above
2. i only
3. ii only
4. iii only
45. Which
of the following best characterizes face-to-face surveys relative to other
types of surveys?
Answers:
1.
Low response rate, low cost
2. Low response rate, high
cost
3. High response rate, low
cost
4. High
response rate, high cost
46. Which
of the following is NOT a function performed by the ‘management information’
system?
Answers:
1.
Data gathering and data processing
2. The
formulation of hypotheses
3. The dissemination of
information to marketing managers
4. Storage and retention of
data
47. Which
of the following are reasons for a company undertaking ‘price elasticity
analysis’?
i)Determining
the types of people who buy a product
ii)Identifying ‘price points’ in the market for a product
iii)Investigating the effects of price changes on sales
ii)Identifying ‘price points’ in the market for a product
iii)Investigating the effects of price changes on sales
Answers:
1.
i and ii
2. i and iii
3. ii and
iii
4. All of the above
48. Which
of the following models the process by which new products are taken up amongst
a population of potential customers?
Answers:
1.
Taylor’s exchange theorem
2. Harvey’s spread algorithm
3. Bass
diffusion model
4. Young’s flow diagram
49. To
what end do market researchers use ‘choice modeling’?
Answers:
1.
To determine the best wording of questions in surveys
2. To make
predictions about human decision making behavior
3. To test possible marketing
material on consumers
4. To optimize product
placement
50. Which
of the following best defines the term ‘Market Segmentation’?
Answers:
1.
The grouping of consumers on the basis of
similar needs
2. The division of staff into
sales teams along geographical lines
3. The categorization of
people by the volume of consumption
4. The preparation of the
marketing campaign for the target market
51. Which
of the following statements is/are true?
i)Data
can be extrapolated to predict future behavior.
ii)A moving average can be used to reduce the impact of anomalies in data.
ii)A moving average can be used to reduce the impact of anomalies in data.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i) is true.
3. Only (ii) is true.
4. Neither is true.
52. Which
of the following statements is/are true of ‘choice modeling’?
i)It
permits the respondents to behave strategically.ii)It compels the respondents
to consider compromises between mutually-incompatible features.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i) is true.
3. Only (ii) is true.
4. Neither
is true.
53. Which
of the following would NOT be a primary reason for analyzing demographic
information collected as part of a survey?
Answers:
1.
To ensure that the sample was representative
2. To be able to compare the
responses of different types of people
3. To check that the
researchers had not faked the data
4. To help
identify the target audience for a product
54. What
does the ‘Dirichlet model’ seek to describe?
Answers:
1.
The product life-cycle
2. The
relationship between marketing and sales
3. The effect of elasticity of
demand on revenue
4. Brand loyalty and repeat
purchases
55. Which
of the following statements is/are true?
i)A
‘longitudinal’ survey is one where the same set of respondents complete the
same survey on two or more occasions.
ii)A ‘cross-sectional’ survey is one where the same set of respondents complete different surveys on two or more occasions.
ii)A ‘cross-sectional’ survey is one where the same set of respondents complete different surveys on two or more occasions.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i)
is true.
3. Only (ii) is true.
4. Neither is true.
56. Which
of the following best describes ‘syndicated’ market research?
Answers:
1.
Research based on data generated to meet a specific client’s
requirements
2. Research based on data
gathered in response to a national Government’s requirements
3. Research
that is conducted to be sold to multiple clients
4. Research outsourced by an
organization to a dedicated market-research company
57. Which
of the following best describes the technique of ‘A/B testing’ (or ‘split
testing’)?
Answers:
1.
Using multiple versions of advertising
materials to determine which is most effective
2. Asking consumers to compare
two products in a blind test
3. Testing a product on two
distinct groups of consumers
4. Seeking feedback from the
same consumers twice with a set interval between
58. Which
of the following survey questions would be most likely to yield unbiased
responses?
Answers:
1.
“Isn’t it a bad idea to raise taxes?”
2. “It’s a bad idea to raise
taxes, isn’t it?”
3. “Lots of people are
struggling to make ends meet. Do you think taxes should have been raised?”
4. “What do
you think of the decision to raise taxes?”
59. What
is meant by the term ‘hypothesis’?
Answers:
1.
A situation that is not real
2. An assertion to be tested
3. An option in a
multiple-choice question
4. A sub-group of respondents
60. Which
of the following is NOT an example of ‘observational’ market research?
Answers:
1.
The use of electronic checkout scanners to record purchase
behavior
2. Monitoring which television
channel is being watched
3. Analyzing people’s
web-browsing history
4. Using a
focus group
61. What
is the name of the forecasting method whereby a panel of independent experts
answer questionnaires in two or more rounds in order to converge on the correct
answer?
Answers:
1.
The Delphi method
2. The Athens method
3. The Apollo method
4. The Oracle method
62. What
is the ‘interquartile range’ of the following data: 10, 6, 12, 8, 2, 6, 4?
Answers:
1.
4
2. 4.5
3. 6
4. Impossible to tell
63. What
is the ‘median’ value of the following data: 1.5, 5, 3.5, 2, 4, 2.5, 1.5, 3?
Answers:
1.
2.5
2. 2.75
3. 2.875
4. Impossible to tell
64. Which
of the following best describes the market research related term ‘sugging’?
Answers:
1.
Seeking funds by pretending to be a research organization
2. Manipulating statistics to
produce a favorable result
3. Exploiting market research
conducted by other organizations
4. Using
market research as a cover for generating business
65. Which
of the following is NOT typically a qualitative method of market research?
Answers:
1.
Using an on-line research community
2. Using a mystery shopper
3. Using a
focus group
4. A survey using the Likert
scale
66.
‘Scenario planning’ can be used to draw conclusions about the future state of a
market. Which of the following best characterizes this approach?
Answers:
1.
Comparison with past examples to predict likely outcomes
2. Considering
multiple possible situations so that the organization can respond to a range of
eventualities
3. Concentrating on the
highest-probability outcome so a detailed contingency plan is in place
4. Conducting computerized
simulations to model future situations
67.
Competing brands can be placed on a graph to illustrate their market
positioning and thereby identify potential niches. What is the term for this
analytical technique?
Answers:
1.
Brand analysis
2. Force-field analysis
3. Product placement
4. Perceptual mapping
68. Which
of the following does NOT feature in Porter’s ‘five forces analysis’?
Answers:
1.
Bargaining power of the suppliers
2. Bargaining power of the
customers
3. Threat
of international competition
4. Competitive rivalry within
an industry
69.
Before which of the following decisions would it be LEAST sensible for a
company to undertake market analysis?
Answers:
1.
Whether to expand the workforce
2. Whether
to purchase a new plant
3. How much to pay to the
staff
4. How much raw material to
buy
70. Which
of the following terms concerns applying statistical methods to the deduction
of economic principles?
Answers:
1.
Causality
2. Econometrics
3. Demographics
4. Predictive
analytics
71. Which
of the following statements is/are true?
i)Small
changes in the wording of a survey question can have a significant effect on
respondents’ answers.
ii)If the sample size for a survey is large enough, predictions about consumer behavior can, effectively, be made completely accurate.
ii)If the sample size for a survey is large enough, predictions about consumer behavior can, effectively, be made completely accurate.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i) is true.
3. Only (ii) is true.
4. Neither is true.
72.
Because probabilistic predictions are not always accurate, market researchers
may generate a representative sample of the possible future states. What is
this forecasting approach known as?
Answers:
1.
Multiple forecasting
2. Conjoint
forecasting
3. Ensemble forecasting
4. Combined forecasting
73. How
many levels are usually there on a Likert scale?
Answers:
1.
8-9
2. 6-7
3. 5-7
4. 2-3
74. Which
of the following statements is/are true?
i) Market
researchers must be objective.
ii) Market research comprises analysis and predictions of consumer behavior.
ii) Market research comprises analysis and predictions of consumer behavior.
Answers:
1.
Both (i) and (ii) are true.
2. Only (i) is true.
3. Only (ii) is true.
4. Neither is true.
75. Which
of the following best describes the purpose of ‘Ad Tracking’?
Answers:
1.
To calculate the cost of a marketing campaign
2. Advanced engagement with
consumers to confirm that an advertisement will be popular
3. To verify that the design
process for an advertisement follows the required steps
4. To check
the effectiveness of marketing activities
76. To
what end is ‘conjoint analysis’ used?
Answers:
1.
To assess the relative importance of different
product features
2. To calculate the likely
impact of external factors on demand
3. To determine the most
effective marketing medium for a product
4. To compare a product with
that of a competitor
77. Which
TWO of the following are issues associated with ‘benchmarking’?
i)It
leads to increased production costs.
ii)It can be difficult to obtain the necessary data.
iii)Comparison with market leaders is not a helpful process.
iv)Organizations are not necessarily directly comparable.
ii)It can be difficult to obtain the necessary data.
iii)Comparison with market leaders is not a helpful process.
iv)Organizations are not necessarily directly comparable.
Answers:
1.
i and ii only
2. i and iii only
3. ii and
iv only
4. iii and iv only
78. Which
of the following types of sampling involves selecting a set number (which need
not be the same) of a distinct sub-group (or ‘stratum’)?
Answers:
1.
Quota sampling
2. Simple random sampling
3. Systematic sampling
4. Probability sampling
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