In-Class Midterm Review

Question 1

Exploratory Research

Answer 1

Used to gain insights, define issues/problems, and pre-test

Question 2

Types of Exploratory Research

Answer 2

Depth interviews, focus groups, pilot surveys, secondary research

Question 3

Descriptive Research

Answer 3

Used to accurately describe a market based on descriptive statistical variables

Question 4

Causal Research

Answer 4

Used to find empirical support for a proposed cause and effect relationship between variables of interest

Question 5

Primary Data

Answer 5

Collected to solve the problem at hand

Question 6

Secondary Data

Answer 6

Previously or independently gathered an is possibly relevant

Question 7

Syndicated Data

Answer 7

Services may provide data about retail sales and other retail descriptors

Question 8

Syndicated Data Business Model

Answer 8

Have high fixed costs because of expensive panels of stores/households. Syndicated research firms then sell the same data to several clients

Question 9

Qualitative Research

Answer 9

Collected data is usually verbal and has to be interpreted which is a subjective process

Question 10

Examples of Qualitative Research

Answer 10

Focus groups, depth interviews, projective techniques

Question 11

Depth Interviews

Answer 11

Individual, psychology based long interviews aiming at describing a typical consume’s deep motivations in relation to the product

Question 12

Non-Response Bias

Answer 12

The systematic difference between respondents and non-respondents

Question 13

Types of Measurements

Answer 13

Nominal, Ordinal, Interval, Ratio

Question 14

Balanced Scale

Answer 14

Have the same number of positive and negative answer options, they are preferable when one expects a wide range of opinions