SMPS CPSM – DOMAIN 1 MARKETING
RESEARCH QUESTIONS AND ANSWERS
Advanced Analytics - ANSWER Tools that use statistical analysis and
predictive modeling to forecast future events.
Audit - ANSWER The practice of assessing your current position - where your
firm stands right now in terms of finances, visibility within a market sector,
competition, and a variety of other measures. A SWOT analysis is often used as
an assessment tool.
Average - ANSWER The sum of a set of numbers, divided by the count of
numbers in that set. One way of describing the middle value in a set of data.
Benchmarking - ANSWER A measurement activity that compares one
attribute of an object to that same attribute in another object.
Benchmarking Survey - ANSWER Create a basis of comparison. Most often
used to compare one company to peer firms, can also be used to determine best
practices or key trends within a specific design typology.
Bias - ANSWER A prejudice shown towards or against something based on
subjective perceptions of experiences or opinions.
Big Data - ANSWER A collection of data sets so large and complex that it
becomes difficult to process using typical database management tools or
traditional data-processing applications.
, Causation - ANSWER A predictive relationship between two variables where
one causes the other.
Customer Satisfaction Survey - ANSWER Designed to determine what clients
believe about a firm's capabilities, its staff, the level of services, and its success
in meeting client needs. Often embodies some aspects of perception and
marketplace intelligence surveys.
Closed Question - ANSWER A question that limits the respondent to a fixed
set of answers, from which they must choose the response that best answer the
question.
Coding- The process of summarizing data into meaningful categories then
assigning a code label to those categories in order for comparison and analysis
to take place.
Chart Comparison- Those used to display the relationship of two or more
distinct data points to each other and used also to show series of patterns:
normally graphically presented in vertical fashion.
Confidence Interval - ANSWER A statistics term referring to the range of
values most likely to contain the population parameter of interest.
Confirmatory Research - ANSWER To reduce a set of alternatives down to a
very small set to determine which option is best. It utilizes solid data to
measure characteristics identified qualitatively from exploratory research.
Consultant - ANSWER Experienced professional who provides expert
knowledge for a fee. He or she most often works in an advisory capacity, thus
the hiring firm and its leaders retain responsibility for outcomes.
RESEARCH QUESTIONS AND ANSWERS
Advanced Analytics - ANSWER Tools that use statistical analysis and
predictive modeling to forecast future events.
Audit - ANSWER The practice of assessing your current position - where your
firm stands right now in terms of finances, visibility within a market sector,
competition, and a variety of other measures. A SWOT analysis is often used as
an assessment tool.
Average - ANSWER The sum of a set of numbers, divided by the count of
numbers in that set. One way of describing the middle value in a set of data.
Benchmarking - ANSWER A measurement activity that compares one
attribute of an object to that same attribute in another object.
Benchmarking Survey - ANSWER Create a basis of comparison. Most often
used to compare one company to peer firms, can also be used to determine best
practices or key trends within a specific design typology.
Bias - ANSWER A prejudice shown towards or against something based on
subjective perceptions of experiences or opinions.
Big Data - ANSWER A collection of data sets so large and complex that it
becomes difficult to process using typical database management tools or
traditional data-processing applications.
, Causation - ANSWER A predictive relationship between two variables where
one causes the other.
Customer Satisfaction Survey - ANSWER Designed to determine what clients
believe about a firm's capabilities, its staff, the level of services, and its success
in meeting client needs. Often embodies some aspects of perception and
marketplace intelligence surveys.
Closed Question - ANSWER A question that limits the respondent to a fixed
set of answers, from which they must choose the response that best answer the
question.
Coding- The process of summarizing data into meaningful categories then
assigning a code label to those categories in order for comparison and analysis
to take place.
Chart Comparison- Those used to display the relationship of two or more
distinct data points to each other and used also to show series of patterns:
normally graphically presented in vertical fashion.
Confidence Interval - ANSWER A statistics term referring to the range of
values most likely to contain the population parameter of interest.
Confirmatory Research - ANSWER To reduce a set of alternatives down to a
very small set to determine which option is best. It utilizes solid data to
measure characteristics identified qualitatively from exploratory research.
Consultant - ANSWER Experienced professional who provides expert
knowledge for a fee. He or she most often works in an advisory capacity, thus
the hiring firm and its leaders retain responsibility for outcomes.
