Market Research MCQs

Market Research MCQs

Answer these 100+ Market Research MCQs and assess your grip on the subject of Market Research.
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1: When you use data collected by someone else that already existed, it is called:

A.   CRM data

B.   Tertiary data

C.   Primary research

D.   Secondary data

E.   Ordinal research

2: What is exploratory research?

A.   Research conducted for a problem that is not yet fully defined

B.   Research to evaluate brand effectiveness

C.   None of these

D.   A method of research that focuses on long, free-form interviews

3: The type of market research firm that gathers consumer and trade information is:

A.   A business library

B.   A consumer branding company

C.   A syndicated service research firm

D.   A not-for-profit research company

E.   A demographic analysis

4: Which is a classification of market research?

A.   Short research

B.   Horizontal research

C.   Preliminary research

D.   Exploratory research

E.   Vertical research

5: The American FactFinder primarily provides what kind of information?

A.   Access to Broadband

B.   Demographic Data

C.   Internet Usage Data

D.   None of these

E.   Business Spending Tables

6: ______ is considered a syndicated service research firm.

A.   Yahoo

B.   Google

C.   Nielsen

D.   Facebook

E.   Smarterer

7: The marketing research process starts with

A.   Initial search of secondary data

B.   Defining research objectives

C.   Collecting data

D.   Designing primary data collection samples

8: True or False? "Treatment" is the changes that are being made to the independent variable in a research study.

A.   False

B.   True

9: Which of these are NOT included in the "marketing mix"?

A.   Price

B.   Product

C.   Promotion

D.   Perception

10: When we say a sample size needs to have sufficient statistical power, what do we mean?

A.   Only return large numbers, typically in the millions

B.   That it is an iterative statistical process

C.   It needs to be big enough to be statistically valid for high confidence

D.   That the market research firm is well-known

11: The chart that shows a circle with colored wedges representing percentages is called:

A.   A sphere of percentage chart

B.   A wedge percent chart

C.   A pie chart

D.   A color scale chart

E.   An Excel spreadsheet

12: When 8-12 people are specifically selected and brought together to discuss a a topic, it is called:

A.   A focus group

B.   Behavioral data

C.   An intelligence farm

D.   A consumer panel

E.   An experimental design

13: How are psychographic segments grouped?

A.   All of these

B.   By attitudes

C.   By values

D.   By interests

14: The two categories of research are:

A.   Interviews and surveys

B.   Buzz marketing and Word of mouth

C.   Primary and secondary

D.   Surveys and Survey Monkey

15: Market research is of no use to non-profit organizations.

A.   False

B.   True

16: Which one is a type of measurement scale?

A.   All of these

B.   Nominal

C.   Interval

D.   Ordinal

E.   Ratio

17: SWOT Analysis refers to _______?

A.   Scores, Web, Organization, Traffic

B.   Strengths, Weaknesses, Orders, Themes

C.   Strategy, Work, Orders, Targets

D.   Strengths, Weaknesses, Opportunities, Threats

18: Market research is an organized effort to gather information about what?

A.   Products or Services

B.   Markets or Customers

C.   Advertising or Branding

D.   Individuals or Organizations

19: True or false? Observation is an accepted form of market research.

A.   True

B.   False

20: What does "SWOT" (as in SWOT Analysis) stand for?

A.   Systematic Work Objective Theme

B.   Sales Within Operational Timeline

C.   Strengths Weaknesses Opportunities Threats

D.   Sales - Work - Over - Time

A.   Free

B.   A monthly fee for businesses, with reduced rates for nonprofits.

C.   A yearly fee for businesses, but a free 30-day trial.

22: Standard deviation means:

A.   how much variation there is from the average or mean

B.   what the average is expected to be based on past surveys

C.   a term used to describe someone who answers incorrectly

D.   a survey question style

E.   data that's been collected previously and considered known

23: "How did you like the food and overall experience?" Why is this a poor questionnaire question?

A.   It is double-barreled

B.   It is misleading

C.   It is invalid

D.   It is confusing

24: When you choose a few cities to trial a product, this is called:

A.   A soft launch

B.   Limited sales testing

C.   A commercialization strategy

D.   Alpha testing

E.   A test market

25: If 70% of the Population is watching TV at a given time, what would be the rating of a program achieving 10% Share of audience ?

A.   10%

B.   14%

C.   7%

D.   70%

26: The first step in any market research effort is to:

A.   Develop a questionnaire

B.   Get a budget in place

C.   Determine what type of research method to use

D.   Define the problem and objectives

E.   Choose the team and its size

27: What is CAGR?

A.   common accommodation growth rate

B.   compound annual growth rate

C.   common assessment growth rate

28: SPSS is an example of a:

A.   Type of guide that moderators create

B.   Measurement method for behavioral analysis

C.   Popular statistical analysis software product

D.   Scale used in online surveys

29: Which is not a type of secondary data?

A.   Commercial data

B.   Invoices

C.   Government census

D.   Interview

E.   Published data

30: Online, mall intercept and phone are examples of:

A.   Places to hold focus groups

B.   Best places to observe people

C.   Survey delivery methods

D.   Places where possible samples may exist

31: Which of the following do you NOT use to calculate the necessary sample size?

A.   Margin of error

B.   The Pareto Effect

C.   Population of size

32: Which of the following is not a form of primary data?

A.   Attitudes

B.   Theories

C.   Demographic characteristics

D.   Awareness

E.   Motivations

33: What does ANOVA stand for?

A.   Analysis of Variables

B.   Attitude of Variance

C.   Attitude of Validity

D.   Analysis of Variance

E.   Analysis of Validity

34: Ranking items in order of preference is called _______________ method.

A.   the monandic ranking

B.   the rank-order

C.   the paired

D.   the index ranking

E.   the ordinal research

35: A focus group is an example of what specific kind of research?

A.   Secondary Research

B.   First-hand Research

C.   Primary Research

D.   Opinion Research

E.   Tertiary Research

36: True or false? A double-barrelled question is good because it gets information on multiple topics.

A.   True

B.   False

37: Which of the following is NOT a sales forecasting method?

A.   Binomial Regression

B.   Leading Indicators

C.   Time Series Analysis

D.   Time Lag Analysis

38: In which situation would you use post-coding?

A.   When analyzing a list of open-ended questions

B.   When analyzing excel data

C.   When testing sample size effectiveness

D.   When analyzing quantitative data

39: _______ data deals with relationships, while _______ data does not.

A.   scientific; logical

B.   univariate; bivariate

C.   bivariate; univariate

D.   valid; invalid

40: A common description for Gaussian distribution is:

A.   Frequently occurring values

B.   A random variable

C.   A bell curve

D.   The average

E.   How a survey is delivered

41: Which of the following settings would be best for a "depth interview"?

A.   Over the phone

B.   In a focus group

C.   In the company conference room

D.   In a consumer's home

42: To show the information or data collected in useful form

A.   Data Tabulation

B.   Data Validation

C.   Data Collection

D.   Data Analysis

43: What kind of market research would be most helpful in determining whether or not to sell a product via the Internet?

A.   Product research

B.   Promotional research

C.   Pricing research

D.   Distribution research

44: What does p=.05 indicate?

A.   A 50% confidence level

B.   A 95% confidence level

C.   A 5% confidence level

D.   A 105% confidence level

45: A common qualitative research method is:

A.   Observing the subject in a related situation

B.   Constructing and deploying a survey

C.   Calculating the statistical norm of the research

D.   Counting the respondents that liked a product

46: Which type of research is used to define problems and suggest hypotheses?

A.   Descriptive Research

B.   Primary Research

C.   Secondary Research

D.   Casual Research

47: The primary purpose behind perceptual mapping is

A.   Product/service positioning

B.   Assessing customer satisfaction

C.   Scanner data for pricing

D.   Segmentation analysis

48: What is the Markov Model?

A.   A process using matrices to find the probability of users in one brand category switching to a different brand the next time they buy in that category

B.   A focus group conducted with four to six participants

C.   A binary model of regression analysis that utilizes an S-shaped curve. For each question, responses can only be one of two options

D.   The process of dividing a market by a measurable characteristic to be able to identify a consumer that is within the target market

49: A statistical probability test measuring a calculated value’s ability to occur due to chance is a(n):

A.   Ability test

B.   C-Test

C.   Luck test

D.   F-test

50: Which of these are NOT examples of paradata?

A.   Outcome and details of respondent contact attempts

B.   Characteristics and behaviors of interviewers

C.   The percent of participants in a survey that are able to identify popular logos

D.   Dates/times of data collection