Market Analysis
Exam Materials
Course Introduction
Market Analysis is a crucial course that equips students with the tools and methodologies necessary to evaluate and interpret market trends, consumer behavior, and competitive dynamics. Through a combination of theoretical frameworks and practical applications, students learn to collect and analyze data, assess market size and potential, segment target audiences, and identify opportunities and threats within various industries. The course emphasizes the use of quantitative and qualitative techniques, such as surveys, interviews, and statistical analysis, to inform strategic business decisions. By the end of the course, students are able to conduct comprehensive market assessments, develop actionable insights, and support effective marketing and business planning.
Recommended Textbook
Essentials of Marketing Research 4th
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Chapter 1: Marketing Research for Managerial Decision Making
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Sample Questions
Q1) The process of fully explaining to respondents any deception that was used during research is known as _____.
A) the practice of sugging
B) the practice of frugging
C) rocking-chair interviewing
D) subject debriefing
E) deanonymizing data
Answer: D
Q2) Creating customer profiles and understanding behavioral characteristics are major focuses of any marketing research project.
A)True
B)False
Answer: True
Q3) If a respondent does not want a researcher to find out the truth, it is ethical for the respondent to lie on a survey.
A)True
B)False
Answer: False
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Chapter 2: The Marketing Research Process and Proposals
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Sample Questions
Q1) In probability sampling, each member of a defined target population has a known chance of being selected.
A)True
B)False
Answer: True
Q2) Discuss the importance of pretesting a questionnaire.
Answer: Designing good questionnaires is difficult. Researchers must select the correct type of questions, consider the sequence and format, and pretest the questionnaire. Pretesting obtains information from people representative of those who will be questioned in an actual survey. In a pretest, respondents are asked to complete a questionnaire and comment on issues such as clarity of instructions and questions, sequence of the topics and questions, and anything that is potentially difficult or confusing.
Q3) In the context of the research process, the variables that need to be studied are also known as constructs.
A)True
B)False
Answer: True
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4
Chapter 3: Secondary Data, Literature Reviews, and Hypotheses
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Sample Questions
Q1) A primary research must always be conducted along with collecting secondary data to address a research problem.
A)True
B)False
Answer: False
Q2) In what ways can the information generated by media panels be useful to marketers?
Answer: Media panels measure media consumption habits of a given population. This information is invaluable to marketing managers. They can use this information to evaluate various media options and determine which ones will allow them to precisely target their audience. They can also find out approximately how many households watched their commercials. This information can then be used to determine the average cost of reaching audience members.
Q3) The logical starting point in searching for secondary data is to look for data in government documents and websites.
A)True
B)False
Answer: False
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Chapter 4: Exploratory and Observational Research
Designs and Data Collection Approaches
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Q1) In the context of data collection methods, which of the following statements is True of projective techniques?
A) They are used to monitor and analyze social media sources to provide research insights.
B) They involve recording human behavior in natural settings.
C) They rule out subjectivity.
D) They use indirect questioning methods.
E) They are primarily used in quantitative research.
Q2) Groupthink is most likely to occur when participants do not have a previously well-formed opinion on issues discussed in a group.
A)True
B)False
Q3) The major advantage of projective techniques is the simplicity of interpretation. A)True
B)False
Q4) Explain word association tests and sentence completion tests.
Q5) What are some of the advantages of conducting online (instead of in-person, face-to-face) focus groups?
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Chapter 5: Descriptive and Causal Research Designs
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Q1) Wireless phone surveys are declining in use due to the low percentage of wireless phone usage.
A)True
B)False
Q2) Incidence rate is the:
A) degree to which a specific question or an investigated issue leads a respondent to give a socially expected response.
B) level of preparation required to create an appropriate environment for a respondent.
C) degree to which respondents share certain similarities.
D) percentage of the general population that is the subject of a market research study.
E) degree of accuracy of a response in relation to some other possible answer.
Q3) In the context of selecting the appropriate survey method, budget determinations are frequently much more arbitrary than researchers would prefer.
A)True
B)False
Q4) Discuss some of the major advantages of online surveys.
Q5) Discuss the types of errors in surveys.
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Chapter 6: Sampling: Theory and Methods
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Q1) List the advantages and disadvantages of simple random sampling.
Q2) The central limit theorem (CLT) describes the theoretical characteristics of a sample population.
A)True
B)False
Q3) In optimal allocation sampling, the necessary sample size of each stratum is determined based:
A) on the relative size of the stratum as well as the variability within the stratum.
B) solely on the stratum's size relative to a defined target population.
C) solely on the stratum's relative importance to a study.
D) on the number of homogenous strata identified in a defined target population.
E) on the number of heterogeneous strata identified in a defined target population.
Q4) In cluster sampling, each cluster is assumed to be representative of the heterogeneity of a target population.
A)True
B)False
Q5) List the steps to be followed in developing a sampling plan.
Q6) Briefly discuss optimal allocation sampling and multisource sampling.
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Chapter 7: Measurement and Scaling
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Q1) For interval scales, it is not possible to calculate mean and standard deviation.
A)True
B)False
Q2) A(n) _____ includes two or more different attributes or issues in the same question, but responses allow respondents to comment on only a single issue.
A) double negative question
B) ambiguous question
C) double-barreled question
D) leading question
E) complex question
Q3) Discuss the difference between a concrete variable and an abstract construct.
Q4) Which of the following statements is True of scale responses?
A) They are likely to have a negative effect on scale descriptors.
B) They should be mutually exclusive.
C) They should overlap wherever possible.
D) They should require the respondents to perform a complex behavior.
E) They are most effective when leading questions are used.
Q5) What are the two factors that drive the use of multiple-item scales in research?
Q6) What are the requirements of designing measurement scales?
Page 9
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Chapter 8: Designing the Questionnaire
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Q1) Which of the following statements is True of questionnaires?
A) Questions are asked in a natural specific-to-general order to reduce the potential for sequence bias.
B) Any sensitive questions are placed later in the questionnaire before the respondent becomes engaged in the process of answering questions.
C) A well-prepared questionnaire consists of leading and double-barreled questions.
D) The value of a well-constructed questionnaire is difficult to estimate.
E) In good questionnaire design, questions flow from demographic data to more general information.
Q2) Self-administered surveys have very high response rates.
A)True
B)False
Q3) For online questionnaires, the length of answer in open-ended questions is unaffected by the size of the response box.
A)True
B)False
Q4) What is the purpose of pretesting a survey?
Q5) In what ways can a researcher frame "bad questions"?
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Chapter 9: Qualitative Data Analysis
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Sample Questions
Q1) In order to establish the emic validity of his or her research findings, a researcher must primarily show that:
A) similar results have been reported by others working independently on the problem.
B) similar results can be obtained if the study were to be repeated.
C) key members of the group included in the study agreed with the findings of the study.
D) the findings of the study can be generalized.
E) the research methodology of the study complies with the necessary research standards.
Q2) Iteration is the process through which researchers build theory that is grounded, or based on the data collected.
A)True
B)False
Q3) In data reduction, the iterative process may uncover issues that the already collected data do not address.
A)True
B)False
Q4) Discuss the process of triangulation.
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Chapter 10: Preparing Data for Quantitative Analysis
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Q1) The process where raw data are checked for mistakes made by either the interviewer or the respondent is known as _____.
A) screening
B) data validation
C) editing
D) coding
E) data tabulation
Q2) In the context of the data coding process, researchers can never analyze the actual answers of respondents in more detail if the:
A) answers were initially coded into broad categories.
B) omitted questions were also coded.
C) survey was conducted online.
D) coding process was prepared after data collection for open-ended questions.
E) responses were edited by the researchers.
Q3) Percentage distribution can be calculated by converting a frequency distribution into percentages.
A)True
B)False
Q4) Under which of the following conditions are respondents typically recontacted?
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Chapter 11: Basic Data Analysis for Quantitative Research
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Q1) Which of the following statements is True of hypotheses?
A) They can be derived from current business situation but not from previous research theory.
B) They are used to validate data in the data preparation process.
C) They are used to convert measures of dispersion into measures of central tendency.
D) They are developed prior to data collection.
E) They are proven suppositions that explain facts or phenomena.
Q2) Which of the following measures of central tendency is the best for nominal data?
A) Mean
B) Median
C) Mode
D) Standard deviation
E) Variance
Q3) If the number of data observations is odd, the median is generally considered to be the average of the first and last values.
A)True
B)False
Q4) How are sample statistics different from population parameters?
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Chapter 12: Examining Relationships in Quantitative Research
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Q1) A scatter plot wherein the dots form an ellipse indicates a positive relationship between variables.
A)True B)False
Q2) The least squares procedure determines the best-fitting line by maximizing the vertical distances of all the data points from the line.
A)True
B)False
Q3) The strength of association between two variables is determined by the size of the correlation coefficient.
A)True
B)False
Q4) In multiple regression, the value of a beta coefficient can never be greater than 1. A)True B)False
Q5) What are the several assumptions made while calculating the Pearson correlation coefficient?
Q6) Discuss multiple regression analysis.
Page 14
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Chapter 13: Communicating Marketing Research Findings
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Q1) Which of the following instructions should be kept in mind while reporting the means of thematically related variables?
A) The mean and standard deviations should be shown with only one digit past the decimal.
B) While preparing a table, percentages should generally display one digit past the decimal point.
C) When a researcher reports means of thematically related variables, the items in the table should be ordered from the lowest to the highest average.
D) While preparing a table, the maximum value should not be indicated as readers will not be able to easily compare the mean.
E) The means of several thematically related variables can be reported in the same chart or table using a pie chart.
Q2) The visual presentation is a separate but equally important component of a marketing research report.
A)True
B)False
Q3) What are the objectives of a professional marketing research report?
Q4) Discuss the organization format common to all marketing research reports.
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