Marketing Research Quiz Questions
1. Marketing research should not be done if: -the type of information required to
solve the problem exists, within the organization or outside
-the timing for the decision is not conducive
-there is a lack of resources
2. Veekay Co. recently developed a new line of computers. Prior to the introduction
the management felt that the product had 40% chance of being
extremely successful, 20% chance of being successful, and 40% chance of
failing. If extremely successful the product would generate $15 million in
profits over the planning period, if successful $10 million, and if it failed the
result would be loss of $5 million. If Veekay does not introduce this new line,
they will stay with the current product and realize a profit of $5 million based
on the company's projections.
Based on the above information, answer the following question -
What is the expected value to Veekay of introducing the new line of personal
computers?: 6 Million
(.40 x 15)
3. Veekay Co. recently developed a new line of computers. Prior to the introduction
the management felt that the product had 40% chance of being
extremely successful, 20% chance of being successful, and 40% chance of
failing. If extremely successful the product would generate $15 million in
profits over the planning period, if successful $10 million, and if it failed the
result would be loss of $5 million. If Veekay does not introduce this new line,
they will stay with the current product and realize a profit of $5 million based
1
, on the company's projections.
Based on the above information, answer the following question -
If Veekay bases their decision only on expected values, should they introduce
the new line of personal computers?: yes
4. Before conducting a research, to determine the value of the information
sought through the research, a manager should perform a: Cost Benefit Analysis
5. Which of the following is not true about hypotheses?: Only one hypothesis is
concerned with each specific research purpose
6. Which one of the following can be termed as strategy development?: planning
to recover lost market share
7. Performance monitoring takes place in which stage of the marketing planning
process?: Implementation
8. Marketing research is: -an informational input to decisions.
-a link between the organization and its market environment.
-the specification, gathering, analyzing, and interpretation of information to help
management make decisions.
9. The research question: asks what specific information is needed to achieve the
research purpose.
10. All of these is true of market research except it:: generates information for
external use only
11. The following is not a part of the Research Objectives: analysis of results
12. A decision support system: retrieves data, transforms it into information, and
disseminates it to the user.
13. Research studies evolve through a number of steps which are linked: Sequentially
14. Market intelligence (MI) is: -The process of acquiring and analyzing information
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1. Marketing research should not be done if: -the type of information required to
solve the problem exists, within the organization or outside
-the timing for the decision is not conducive
-there is a lack of resources
2. Veekay Co. recently developed a new line of computers. Prior to the introduction
the management felt that the product had 40% chance of being
extremely successful, 20% chance of being successful, and 40% chance of
failing. If extremely successful the product would generate $15 million in
profits over the planning period, if successful $10 million, and if it failed the
result would be loss of $5 million. If Veekay does not introduce this new line,
they will stay with the current product and realize a profit of $5 million based
on the company's projections.
Based on the above information, answer the following question -
What is the expected value to Veekay of introducing the new line of personal
computers?: 6 Million
(.40 x 15)
3. Veekay Co. recently developed a new line of computers. Prior to the introduction
the management felt that the product had 40% chance of being
extremely successful, 20% chance of being successful, and 40% chance of
failing. If extremely successful the product would generate $15 million in
profits over the planning period, if successful $10 million, and if it failed the
result would be loss of $5 million. If Veekay does not introduce this new line,
they will stay with the current product and realize a profit of $5 million based
1
, on the company's projections.
Based on the above information, answer the following question -
If Veekay bases their decision only on expected values, should they introduce
the new line of personal computers?: yes
4. Before conducting a research, to determine the value of the information
sought through the research, a manager should perform a: Cost Benefit Analysis
5. Which of the following is not true about hypotheses?: Only one hypothesis is
concerned with each specific research purpose
6. Which one of the following can be termed as strategy development?: planning
to recover lost market share
7. Performance monitoring takes place in which stage of the marketing planning
process?: Implementation
8. Marketing research is: -an informational input to decisions.
-a link between the organization and its market environment.
-the specification, gathering, analyzing, and interpretation of information to help
management make decisions.
9. The research question: asks what specific information is needed to achieve the
research purpose.
10. All of these is true of market research except it:: generates information for
external use only
11. The following is not a part of the Research Objectives: analysis of results
12. A decision support system: retrieves data, transforms it into information, and
disseminates it to the user.
13. Research studies evolve through a number of steps which are linked: Sequentially
14. Market intelligence (MI) is: -The process of acquiring and analyzing information
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