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Exam 15: Marketing Research Tools

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Question 31

True/False

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Steve works for Volvo and is consulting a perceptual map that indicates that customers find comfort very important, but that they don't think Volvo is doing very well in this area. Given this information, improving comfort should be a priority for Steve and his coworkers.

A) True
B) False

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Question 32

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In a particular conjoint study, the variables "club," "upgrade" and "fee" are the predictors. Which model properly corresponds to this?

A) Rating = b0 + b1 Club + b2 Upgrade + b3 Fee + error
B) Rating = b0 + b1 Club x b2 Upgrade x b3 Fee - error
C) Rating = (b0 + b1 Club + b2 Upgrade + b3 Fee) / error
D) Rating = b0 - b1 Club + b2 Upgrade + b3 Fee - error

E) A) and C)
F) A) and B)

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Question 33

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Explain the purpose of a conjoint study.

Bob at Bob's Furniture is looking at the results of some research about customers' ideas about his products. He learns that the attributes customers care most about are price and comfort. They care less about aesthetics and quality. The attributes on which Bob's product are doing worst are comfort and quality. Thy are doing best on price and aesthetics. What exactly is Bob looking at?

Sam's Sandwich Shack recently conducted two focus groups, each with 6 customers and a moderator. Sam believes he gathered enough feedback from these focus groups to revamp his menu and to initiate some changes to the level of service provided by his staff. What would you recommend to Sam?

Marketing research should focus solely on the customer.

examines the strong and weak correlations to identify underlying factors common to the responses.

Which is NOT one of the 3 steps in the marketing research process?

Data analysis can be used to address just about any marketing question.

Studies conducted in the real world tend to have more internal validity than external validity.

On an attributes-based perceptual map, the higher the mean on performance on an attribute translates to how the attribute will be plotted.

A focus group typically includes 8 to 10 customers.

Conjoint analysis is frequently used in new product design.

Marketing information should be gathered every two years in order for a company to be well-informed and poised for action.

Rather than asking customers, "What's important?" MDS starts by asking which of the following questions?

On an attributes-based perceptual map, how important the attribute is translates to how the point is plotted.

ROMI stands for referral of multidimensional information.

Factor analysis and cluster analysis do not complement each other very well.

If you're not tweaking the environment but constantly monitoring it, then you're using observation.

An airline is doing a conjoint study to examine what customers would like to see included in their loyalty program. Here are the things they are wondering: Should there be access to an elite club at the large airports (yes or no)? Do the customers value being high priority for upgrades (yes or no)? Should the loyalty program and these benefits be free or available at a fee (e.g., $50 annually)? Explain what the airline can learn from the following figure.