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Fall 2020 Connect Questions and Answers for Ch. 8 Terms in this set (64)What is the name for the process by which information is collected, recorded, and analyzed so that a company can make informed decisions about its marketing efforts? Marketing research In foreign markets, marketing researchers _____. must often emphasize different kinds of information Which type of marketing research is focused on domestic operations? Specific market information used to make decisions about the marketing mix Click and drag on elements in
order 1. Definition of the research problem and establishment of research goals One of the difficulties associated with defining a research problem in foreign markets is that the problem may be clouded by researchers' self-reference criterion. Other than directly observing the market, how do most companies get their market research? - from trusted research
vendors The first step of the research process is especially important in foreign markets because researchers tend to - underestimate the influence of local culture on a problem. Which of the following are problems associated with conducting marketing research in different countries? - Cross-cultural communication How is the lack of comprehensive marketing-related data in some countries being addressed? Private and public groups are funding the collection of this data. What are the three types of market research? - Information necessary to forecast future marketing requirements Which of the following is a reason for the low level of reliability of secondary data? The fear of tax collectors adversely affects data reporting. Nina, a marketing researcher, has gathered relevant primary and secondary data. Which step should Nina take next? Analyze, interpret, and summarize the results of her research Refrez Inc., a U.S.-based cereal manufacturer, begins selling its products in China. While people in the United States eat cereal with cold milk, the people of China eat cereal with hot milk. Refrez Inc. believed that everyone used cold milk with cereal and did not modify its product according to people's preferences. As a result, it witnessed a decline in sales in China. In this scenario, what was the obstacle to defining the research problem? The research problem was clouded by researchers' self-reference criterion. An accurate statement about secondary data in less developed countries is that the data gathered previously may use categories that are too broad or too narrow. Why is the first step of the research process essential in foreign markets? The unfamiliar environment tends to cloud problem definition. Secondary data is considered valid if it is internally consistent with known data sources or market factors. Which country has the highest quantity of marketing-related secondary data available? United States Primary data can be gathered from a firm's distributors. Which of the following is a reason why secondary foreign data may be unreliable? Official statistics may reflect pride rather than practical reality. A marketing researcher interviews a large number of respondents and asks them a set of questions that are listed in a questionnaire. The respondents are required to select a response from a given set of options. In this case, the researcher is conducting quantitative research. The lack of historical data with which to contrast current foreign data leads to ______ problems. comparability Which of the following is a feature of qualitative research? It uses open-ended questions to seek in-depth responses. Secondary data that has been collected in the United States needs to be validated. Which problems do market researchers face when collecting primary data in foreign countries? - They forget to take into account cultural differences among countries. Data that is gathered specifically for a particular research project is known as ______ data. primary Respondents usually find it difficult to formulate needs and opinions about products when they do not understand the use of those products. Identify an accurate statement about marketing research. Cultural differences can mean people will be unwilling to respond to research questions. Which research methodology is most commonly used by quantitative research? Surveys Marketing researchers conducting qualitative research usually use ______ to gather data. focus group interviews One of the problems faced by marketing researchers when selecting samples is that - demographic data may not be sufficient. In international marketing research, primary research is successful when a researcher gathers accurate data that adequately addresses research goals. How does the lack of detailed social and economic information affect sampling? It causes researchers to use convenience samples gathered in public locations. Carlos is asked about a product that he has never seen or used before. In this scenario, Carlos is likely to find it difficult to communicate meaningful opinions. Which of the following is the most common problem faced by market researchers collecting data in foreign countries? Language barriers When people in foreign countries are unwilling to respond, marketing researchers should use _____ to gather data. - local students True or false: The translation of a questionnaire into one language will suffice in all areas where that language is spoken. Reason: Morgan translates a questionnaire from one language to another, Lucian translates it back into the original language, and they compare the two versions in the original language. This process is known as back translation. Lists that carry demographic data and from which samples are to be drawn are sometimes not current. In this case, sampling becomes ______. less reliable Back translations are sometimes inaccurate because both languages may use the same idioms. To overcome this problem, market researchers can use _____. parallel translation One of the problems faced by marketing researchers when selecting samples is that _____. social and economic information may be insufficient The process through which a document is repeatedly translated from one language to another and back, each time by a different translator, is known as decentering. Why is it difficult to conduct marketing research in foreign countries? Respondents' answers cannot always be translated exactly. Multicultural research should strive to achieve comparable and equivalent results. How can researchers best overcome the language barrier issues that arise when they administer questionnaires to people in foreign countries? by using native speakers of the target country's language to prepare the questionnaires Identify an accurate statement about the Internet. It facilitates international marketing research. In back translation, a document that has been translated from its original language to another language and back again is compared to a copy of the original document. The comparison of estimates formulated by different experts in order to predict demand is known as triangulation. A questionnaire is translated from one language into another and then back into the original language by two additional translators. The two translated versions in the original language are then compared to the original document, differences are discussed, and the most appropriate translation is selected. This process is known as ______. parallel translation To forecast demand, marketers may use ______, which assumes that demand for a product will follow a similar pattern in all countries. analogy A questionnaire is translated from Spanish to Chinese and then back to Spanish by a different translator. The two Spanish versions are compared, differences are noted, and the original Spanish questionnaire is modified accordingly. This process is repeated, using different translators each time, until there are no differences between the Spanish and the Chinese questionnaires. This scenario exemplifies ______. decentering How can market researchers analyze the social customs, semantics, and business customs of a country effectively? By understanding the culture of the relevant market Lisa, a marketing researcher, is conducting research in a foreign country. Lisa should _____. consider the economy and language of the target country When conducting marketing research in foreign markets, researchers should use "catch as catch can" methods to obtain data. One advantage that online surveys have over phone and mail surveys is that online surveys can better utilize "branching," or asking a variety of questions based on a response to an earlier question. Identify an accurate statement about decentralized research management. Local analysts assume control of the research. Brix Inc., a European cement manufacturer, decides to enter the Chinese market. It seeks the opinion of three experts to help forecast demand and then compares these estimates. In this case, Brix Inc. is engaging in a process known as _____. triangulation What are the two stages of analysis that market data must undergo? - organization of data into a form that addresses the client's needs When using analogy to forecast demand, marketers must exercise caution because it relies on both countries having similar factors. True or false: Market research consists solely of gathering information from or about consumers, customers, and competitors. Reason: True or false: Market researchers should involve the natives of a target country in the analysis and interpretation of the results of research conducted in that country. Reason: In foreign markets, marketers should be guided by collected data even if it does not follow the expected course. What is one possible downside to decentralization? Large-market studies may dominate marketing decisions. Research is analyzed at an individual-country level and a multicountry level because analysis of multicultural data by just one interpreter increases the risk that data will be influenced by self-reference bias. In which aspects of market research should decision makers be involved? - question formulation Sets with similar termsIntl Marketing Ch 847 terms fostemj Int Mktg Chpt 860 terms Bro_Ke1313 International marketing midterm Chapter 847 terms aehovey MKTG 190 - CH 826 terms gogofighting Sets found in the same folderMKTG 4280 Ch. 6 McGraw-Hill Connect65 terms Sir_Zeus_ MKTG 4280 Ch. 7 McGraw-Hill Connect64 terms Sir_Zeus_ MKTG 4280 Ch. 11 McGraw-Hill Connect64 terms Sir_Zeus_ MKTG 4280 Ch. 19 McGraw-Hill Connect64 terms Sir_Zeus_ Other sets by this creatorModule 14 of 14 Text Mining18 terms Sir_Zeus_ Module 13 of 14 Recommender Systems14 terms Sir_Zeus_ Module 12 of 14 Association Rules21 terms Sir_Zeus_ Module 11 of 14 Evaluating Classifiers17 terms Sir_Zeus_ Verified questionsQUESTION Avondale Aeronautics has perpetual preferred stock outstanding with a par value of $100. The stock pays a quarterly dividend of$1.00 and its current price is $45. a. What is its nominal annual rate of return? b. What is its effective annual rate of return? Verified answer QUESTION Six-month T-bills have a nominal rate of 2%, while default-free Japanese bonds that mature in 6 months have a nominal rate of 1.25%. In the spot exchange market, 1 yen equals $0.0081. If interest rate parity holds, what is the 6-month forward exchange rate? Verified answer QUESTION A rookie quarterback is negotiating his first NFL contract. His opportunity cost is 7%. He has been offered three possible 4-year contracts. Payments are guaranteed, and they would be made at the end of each year. Terms of each contract are as follows: $$ \begin{matrix} \text{ } & \text{1} & \text{2} & \text{3} & \text{4}\\ \text{Contract 1} & \text{\$ 3.000.000} & \text{\$ 3.000.000} & \text{\$ 3.000.000} & \text{\$ 3.000.000}\\ \text{Contract 2} & \text{\$ 2.000.000} & \text{\$ 3.000.000} & \text{\$ 4.500.000} & \text{\$ 5.500.000}\\ \text{Contract 3} & \text{\$ 7.000.000} & \text{\$ 1.000.000} & \text{\$ 1.000.000} & \text{\$ 1.000.000}\\ \end{matrix} $$ As his adviser, which contract would you recommend that he accept? Verified answer QUESTION Ferrell Inc. recently reported net income of $8 million. It has 540,000 shares of common stock, which currently trades at$21 a share. Ferrell continues to expand and anticipates that 1 year from now, its net income will be $13.2 million. Over the next year, it also anticipates issuing an additional 81,000 shares of stock so that 1 year from now it will have 621,000 shares of common stock. Assuming Ferrell’s price/earnings ratio remains at its current level, what will be its stock price 1 year from now? Verified answer Other Quizlet setsConstitucionalismos gerais20 terms martabpa Climatology Mid-Term157 terms jw_saunders Oceanography Chapter 425 terms Cailin_Holt2 CJ 495 jones gvsu final55 terms ahavlicek24 Related questionsQUESTION Marketing managers do not need more information, they need... 9 answers QUESTION the environmental protection agency took soil samples at 16 locations near a former industrial waste dumb and check each for evidence of toxic chemicals. No elevated levels of harmful substances were found. What is the parameter of interest? 2 answers QUESTION Studies aimed at selecting retail sites or warehouse locations in support of the distribution channel 4 answers QUESTION Not all, and in fact, most research is not generalizable to all populations. That is not problematic, as long as the researcher is clear about the population(s) to which findings may be generalized. 2 answers Why is it difficult to conduct marketing research in foreign countries?Global market researchers will come across difficulties from prominent differences across various countries such as diverse cultures and customs, differing levels of economic development, and varying buying patterns.
What are the problems in collecting primary data in international marketing research?Most problems in collecting primary data in international marketing research stem from cultural differences among countries and range from the inability of respondents to communicate their opinions to inadequacies in questionnaire translation.
What are the three main difficulties of conducting research in international markets?Challenges identified include differentiating between etic and emic concepts, assembling an adequate research unit, ensuring data collection equivalence, and reducing ethnocentrism of the research team.
What challenges do marketing researchers face while conducting their research?The challenges that market researchers face today are often related to time, cost, and the role of big data and technology. But on the flip side of these challenges are unique opportunities for experimentation and innovation.
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Which problems do market researchers face when collecting primary data in foreign countries?
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