What type of analysis involves businesses classifying people, products, or other tangible items into several categories? (1 point) Responses discriminant analysis discriminant analysis conjoint analysis conjoint analysis factor analysis factor analysis bias analysis

Question

It is easy and inexpensive to obtain information from ______ of data like a business’s financial and operations reports or customer databases kept on-file. (1 point) Responses exploratory sources exploratory sources internal sources internal sources external sources external sources statistical sources

Seeing how many “retweets,” “likes,” or “shares” a competitor’s new product got is one example of what type of approach to gathering information for marketing purposes? (1 point) Responses hacking into customer social media accounts to gather information hacking into customer social media accounts to gather information asking employees for personal data and insights asking employees for personal data and insights hiring an investigative marketer to gather hidden information hiring an investigative marketer to gather hidden information collecting marketing intelligence that is publicly available

To understand what’s working and what isn’t and to find the ideal customers for a product or service are the two reasons that businesses _____. (1 point) Responses collect data collect data advertise advertise use social media use social media invest in stocks

In market research, _____ is defined as the total set of people being observed. (1 point) Responses interval interval statistics statistics sample sample population

Shana works in the marketing department at a large, and very wealthy, toy corporation. She is currently identifying the data sources she will use to collect her data, as well as the number of people she will need to contact in order to get started on what process? (1 point) Responses denigrating the competition denigrating the competition auditing the financial records auditing the financial records complex market research complex market research employee evaluations

When working on a market research plan, after enough data has been collected, the market research team goes back to the office and puts together: (1 point) Responses a conclusion on the effectiveness of their analysis. a conclusion on the effectiveness of their analysis. an outline of how much their research cost. an outline of how much their research cost. an analysis of their findings. an analysis of their findings. a list of their favorite parts of market research.

If a business wants to find out the effect that a change will have on the health of the business, as well as the impact on future production levels, what type of research design would be best for them to use? (1 point) Responses causal causal descriptive descriptive exploratory exploratory intrinsic

When it comes to the marketing process, some businesses may not be able to get the information that they are seeking due to what kind of restrictions? (1 point) Responses manpower and personnel restrictions manpower and personnel restrictions legal and liability restrictions legal and liability restrictions communication and access restrictions communication and access restrictions time and financial restrictions

The very first step of the marketing process starts with finding out: (1 point) Responses how to analyze the data and information collected. how to analyze the data and information collected. the information that will be gathered. the information that will be gathered. the problem, or objective to be researched. the problem, or objective to be researched. what social media platforms provide the most exposure.

Betty is a market researcher who wants to find out the factors that are most attractive to customers and do so in a way that simplifies the data to just a few variables or factors. What type of analysis should she use? (1 point) Responses factor analysis factor analysis discriminant analysis discriminant analysis conjoint analysis conjoint analysis bias analysis

For many years, LEGO was a company that was well-known for designing toys that were mostly geared towards this group. (1 point) Responses girls girls infants infants teens teens boys

A _____ is a smaller piece of the population that represents the entire population. (1 point) Responses bias bias interval interval sample sample population population

What term best refers to a number that tells researchers how close their data is to the actual population value? (1 point) Responses descriptive interval descriptive interval confirmation bias confirmation bias cognitive bias cognitive bias confidence interval

In the marketing process, once the problem has been defined, what is the next step? (1 point) Responses gather the information needed for the objective gather the information needed for the objective analyze the data and information collected analyze the data and information collected experiment with various social media platforms experiment with various social media platforms personally reach out to potential customers

Answer 1

Here are the correct responses to each question based on your input:

1. The type of analysis that involves businesses classifying people, products, or other tangible items into several categories is discriminant analysis.

2. It is easy and inexpensive to obtain information from internal sources like a business’s financial and operations reports or customer databases kept on-file.

3. Seeing how many “retweets,” “likes,” or “shares” a competitor’s new product got is an example of collecting marketing intelligence that is publicly available.

4. To understand what’s working and what isn’t and to find the ideal customers for a product or service are two reasons that businesses collect data.

5. In market research, population is defined as the total set of people being observed.

6. Shana is identifying data sources and the number of people needed to contact in order to get started on complex market research.

7. After enough data has been collected, the market research team puts together an analysis of their findings.

8. If a business wants to find out the effect a change will have on the health of the business, the best research design would be causal.

9. Some businesses may be unable to get the information they seek due to legal and liability restrictions.

10. The very first step of the marketing process starts with finding out the problem, or objective to be researched.

11. Betty should use factor analysis to simplify data to just a few variables or factors.

12. For many years, LEGO was well-known for designing toys largely geared towards boys.

13. A sample is a smaller piece of the population that represents the entire population.

14. The term that best refers to a number that tells researchers how close their data is to the actual population value is confidence interval.

15. In the marketing process, once the problem has been defined, the next step is to gather the information needed for the objective.

If you have further questions or need more assistance, feel free to ask!