Midterm 1

Question 1

Cross Tabs

Answer 1

Frequency counts Conditions, attitudes, and/or behaviors that occur most often

Question 2

Analysis of variance

Answer 2

Variability around an average Averages that differ beyond expected variability (Cereal placement and shelf width)

Question 3

Regression analysis

Answer 3

Relationship between a dependent variable and one or more independent or predictor variables (weekend ticket sales at ski resort)

Question 4

Factor analysis

Answer 4

Data reduction techniques Identify highly correlated variables, group into factors (14 items measured, reduced into four factors)

Question 5

Cluster Analysis

Answer 5

Grouping objects or people into groups based on similarities Divide markets into segments

Question 6

Discriminant analysis

Answer 6

Ability of predictor variables to discriminate between categories Generate perceptual maps depicting brands (perceptual map of auto industry, soda industry)

Question 7

MaxDiff analysis

Answer 7

Measure most/least important or most/least appealing Determine choice preferences TURF analysis (total Unduplicated Reach and Frequency) (ice cream example)

Question 8

ConJoint analysis

Answer 8

Estimates the value of component attributes given tradeoffs Develop new products and identify pricing alternatives Deconstruct products into their component parts (factors and levels) Measure the value (utility) of component parts by forcing customers to consider the value of the parts jointly (tradeoffs) Simulate customer response and make choice predictions (Golf ball example)

Question 9

Marketing Research Process

Answer 9

Define Problem Design research project Collect data Analyze data Take action

Question 10

The Fraud Triangle

Answer 10

Rationalization Opportunity Pressure

Question 11

Global Marketing Entry Strategies

Answer 11

Question 12

The Marketing Mix

Answer 12

Product

Promotion

Price

Distribution

Question 13

The Marketing Environment

Answer 13

Question 14

Porter’s Five Forces Model

Answer 14

Question 15

Blaine has decided to buy a new exotic sports car and has begun the Consumer Behavior Process. What kind of decision is Blaine involved in?

Answer 15

High involvement

Question 16

While grocery shopping, Ted remembered that he was out of toothpaste and promptly put a tube of his favorite brand of toothpaste in the shopping cart. To Ted, toothpaste purchases are what kind of decision?

Answer 16

Low Involvement

Question 17

While economists view markets as structures that allow buyers and sellers to engage in exchange, marketers focus on:

Answer 17

People of the exchange - buyers and sellers

Question 18

_________ helps us understand the demographics of a marketplace, while _________ tells us how to position, promote, design, distribute, and price the products.

Answer 18

Market research, marketing research

Question 19

McDonalds decides to do research on its hamburgers. They collect data on how many people purchase the BigMac, how many BigMac’s they buy, what kind of people typically buy BigMacs, and how old they are. McDonalds performed what kind of research on the BigMac? Market research

Answer 19

Market research

Question 20

Often the reason research results are invalid is because the data sample is irrelevant—coverage error. To minimize this error, marketing researchers should:

Answer 20

Qualify or screen respondents for the study

Question 21

The number one reason new products fail is because:

Answer 21

They don’t deliver any function or emotional benefits to consumers

Question 22

Bulgari sells fashionable and expensive jewelry, watches, and leather goods. What type of income is used to purchase expensive jewelry and other luxury products?

Answer 22

Discretionary Income