Chapter 8--Secondary Data Research in a Digital Age ( WITH ANSWER KEY ) ALL ANSWERS CORRECT

Chapter 8--Secondary Data Research in a Digital Age Student: ___________________________________________________________________________ 1. Secondary data are typically historical data that have already been collected ...

Chapter 8--Secondary Data Research in a Digital Age Student: ___________________________________________________________________________ 1. Secondary data are typically historical data that have already been collected. True False 2. Secondary data require current access to respondents who provided the data. True False 3. The primary advantage of secondary data is their availability. True False 4. A disadvantage to secondary data is that they were not designed specifically to meet the objectives of the current project. True False 5. It’s usually safe to assume that secondary information is relevant, useful, and reliable. True False 6. One disadvantage of secondary data is that it cannot be converted to conform to a researcher’s needs. True False 7. A researcher should always evaluate the professional reputation of the organization that has gathered secondary data in terms of evaluating the quality of the data. True False 8. A reliability analysis is done by comparing data from one source with data from another source. True False 9. Fact-finding is the simplest form of secondary data research. True False 10. Market tracking is the observation and analysis of trends in industry volume andbrand share over time. True False 11. Model building involves specifying relationships between two or more variables, which is more complicated that simple fact-finding. True False 12. Market potential is frequently estimated through the use of secondary data. True False 13. Marketing researchers frequently use external accounting data to generate sales forecasts. True False 14. A moving average sales forecast works best in a dynamic competitive environment. True False 15. The index of retail saturation is the ratio of local market potential (demand) to local population density. True False 16. Data mining techniques can help to define the underlying meaning of data. True False 17. Neural networks are a form of artificial intelligence in which a computer is programmed to mimic the way that human brains process information. True False 18. Single-source analysis is a form of data mining that analyzes anonymous point-ofsale transactions databases to identify coinciding purchases or relationships between products purchased and other retail shopping information. True False 19. Secondary data are always data that are external to the organization. True False 20. An organization’s accounting system is a useful source of internal secondary data. True False21. Secondary data can be bought and sold like other products. True False 22. Trade associations gather data to help the organizations in a specific industry. True False 23. Diary panel data are data gathered by households that have agreed to record their consumption behavior over an extended period of time. True False 24. The research industry uses the term multiple-source data for diverse types of data offered by a single company. True False 25. It is safe to assume that secondary data from governments around the world are accurate. True False 26. Obtaining secondary data is typically ______ and ______ expensive than obtaining primary data. A. faster; moreB. slower; moreC. faster; lessD. slower; less 27. A researcher who is interested in new car sales but who discovers that the secondary data from the U.S. government are in the form of statistics that include both car and light truck sales combined in the data has discovered that the data fail to meet which criterion? A. Are the data in the correct unit of measurement?B. Do the data apply to the time period of interest?C. Are the data supplied by a reputable source?D. Do the data show evidence of reliability and validity? 28. All of the following are common reasons why secondary data do not adequately satisfy research needs EXCEPT _____. A. outdated informationB. too expensiveC. variation in definition of termsD. different units of measurement 29. The process of changing the original form of data to a format more suitable for achieving a stated research objective is called _____. A. data conversionB. reliability assessmentC. cross-checkingD. data mining 30. Sherrie is interested in average monthly sales for smartphones in the United States. She found information on the Internet that gives annual sales, so she took the annual sales and divided it by twelve to get a monthly average. This is an example of _____. A. data miningB. data divisionC. data conversionD. data validation31. Which of the following is a disadvantage of secondary data? A. user has no control over their validityB. inability to convert the dataC. typically require additional access to research respondentsD. all of these choices 32. What is it called when a researcher compares secondary data from one source with data from another? A. data conversionB. cross-checkC. data miningD. data enhancement 33. A researcher is interested in knowing the median income of residents in the state of Ohio and has found several sources with this information. He is comparing the information from each source to verify the information. This researcher is performing a _____. A. reliability assessmentB. data conversionC. cross-checkD. data transformation 34. A typical objective for secondary-data research design is _____. A. model building B. fact-findingC. database marketingD. all of these choices 35. The simplest form of secondary-data research is _____. A. fact-findingB. model buildingC. forecasting salesD. database marketing 36. Purchasing data from a company such as NPD Group, Inc. on consumption of soft drinks in the U.S. is an example of which objective for secondary data analysis? A. model buildingB. database marketingC. data miningD. fact-finding 37. Tracking monthly sales trends over the past year is an example of which objective for secondary data analysis? A. model buildingB. fact-findingC. database marketing D. environmental scanning 38. The observation and analysis of trends in industry volume and brand share over time is called _____. A. market trackingB. model buildingC. data miningD. database marketing 39. When a manager reads publications like The Wall Street Journal and BloombergBusinessweek to try to determine changes in consumer behavior and employment issues, this is a form of _____, A. environmental scanningB. model building C. database marketingD. data mining40. _____ involves specifying relationships between two or more variables, perhaps extending to the development of descriptive or predictive equations. A. Data transformationB. Data analysisC. Model buildingD. Fact-finding 41. Lance has noticed that companies that advertise a lot seem to have higher sales than those that do not. His use of secondary data to help specify this relationship is an example of _____. A. data conversionB. validationC. reliabilityD. model building 42. The process of predicting sales totals over a specific time period is called _____. A. sales forecastingB. market potential estimationC. sales analysisD. market tracking 43. Every year, Westview Marble goes through the process of estimating sales for the upcoming year by looking at the company’s previous years’ sales and market sales along with economic trends and predictions by experts. This process of predicting sales totals over a specific time period is called ____. A. model buildingB. trend analysisC. sales forecastingD. market potential estimation 44. Kyle is conducting a sales forecast by adding up his company’s sales over the past five years and then dividing that by five (the number of years). The forecasting technique he is using is called _____. A. moving average forecastingB. dynamic forecastingC. static forecastingD. indexing 45. Which of the following is FALSE regarding sales forecasting? A. The moving average forecasting is best suited to a dynamic competitive environment.B. Accurate sales forecasts frequently come from secondary data research.C. Simple moving averages are often applied in practice.D. Marketing researchers often use internal company sales records to project sales. 46. When Subway Sandwiches uses secondary data to determine the best location for its franchise outlets, this is an example of _____. A. site analysisB. model building C. database marketingD. market tracking 47. Which of the following is a calculation that describes the relationship between retail demand and supply? A. index of retail salesB. index of retail utilizationC. index of retail saturationD. index of retail sites 48. If the population of a city is 230,000 and its annual per person expenditure on athletic shoes is $45, if there are 64,688 square feet of retail space used to sell athleticshoes in this city, its index of retail saturation is _____. A. 3.56B. 12.65C. 159.99D. 330.06 49. Pottery Barn is a retail chain of home products. Before entering a new geographic area, the company develops an index consisting of a ratio of local market potential in dollars (demand) to local market retailing space in square feet. If this ratio is below a predetermined level, the site is not considered further. However, if this ratio is greater than that level, further site-selection analyses are performed. This index is called _____. A. index of retailersB. index of retail utilizationC. index of retail salesD. index of retail saturation 50. Many companies use powerful computers to dig through volumes of data to discover patterns about their customers and products. This activity is called _____. A. data mining B. data diggingC. suggingD. neural networking 51. Which of the following is a form of artificial intelligence in which a computer is programmed to mimic the way that human brains process information? A. brain scan B. neural networkC. schematic networkD. intelligent network 52. Watson, a computer developed by IBM that beat humans on the television gameshow Jeopardy, uses artificial intelligence that mimics the way the human brain processes information. This artificial intelligence is called _____. A. robotic thinking B. brain simulatorC. intelligent agentsD. neural networks 53. Many retailers mine the databases provided by checkout scanners to identify coinciding purchases or relationships between products purchased and other retail shopping information. This type of analysis is referred to as ____. A. neural networking B. scandownsC. database marketingD. market-basket analysis 54. Which of the following involves mining data to look for patterns identifying who is likely to be a valuable customer? A. customer discoveryB. data dissectionC. data profiling D. customer cloning 55. When a credit card company uses information about each customer's age, gender, income, and past credit history to find patterns that make customers a poor credit risk, this is an example of _____. A. single-source dataB. data conversionC. customer discovery D. index of customer saturation 56. The practice of using databases to promote one-to-one relationships with customersand create precisely targeted promotions is called _____ A. zoned marketingB. target marketingC. database marketingD. electronic marketing 57. L.L.Bean is a retailer best-known for direct marketing through catalogs and the Internet. Laurie purchased from the retailer quite frequently, but since her daughter started college she hasn’t had as much disposable income and stopped ordering merchandise. The elapsed time since her last purchase triggered an offer for $20 off her next purchase from the retailer. This is an example of _____. A. database marketing B. neural networksC. customer discoveryD. electronic marketing 58. Secondary data that originate inside the organization are called _____. A. first order dataB. internal and proprietary dataC. exclusive dataD. valid data 59. All of the following are examples of internal secondary data EXCEPT _____. A. sales invoicesB. census dataC. inventory levelsD. back orders 60. Facts observed, recorded, and stored by an entity outside of the researcher’s organization are called _____. A. proprietary dataB. external dataC. internal data D. primary data 61. All of the following are producers of external secondary data EXCEPT _____. A. librariesB. trade associationsC. governmentD. media 62. Which of the following is TRUE regarding U.S. government sources of secondary data? A. Most of the data published by the U.S. federal government can be counted on for accuracy and quality of investigation.B. Provides a real-time view of business news and financial statistics including stock values, exchange rates, and more.C. Provides customer satisfaction ratings for hundreds of large firms doing business in the United States.D. Reports market-share data using Universal Product Codes (UPC) and optical scanning at retail store checkouts. 63. Which of the following data can be purchased from commercial sources? A. advertising researchB. market-share dataC. consumer attitudes and public opinions D. all of these choices 64. Buying new-car purchase data by zip code from the Polk Company is an example of which type of secondary data? A. media sourceB. commercial sourceC. trade association sourceD. primary source65. Asking a group of households to record their consumption of certain products over a two-year period is an example of _____. A. model buildingB. database marketingC. data conversionD. diary panel data 66. What term is used by the marketing research industry to refer to diverse types of data offered by a single company? A. primary dataB. single-source dataC. compound dataD. integrated data 67. All of the following are limitations of international secondary data EXCEPT _____. A. data may simply be unavailable in certain countriesB. data may be too expensive C. researchers may question the accuracy of some dataD. various countries use different definitions and accounting and recording practices 68. Data that were collected previously for a different research study are known as ______ data. ________________________________________ 69. When original data are changed to a different format in order to make them consistent with a research objective, this is known as data ______. ________________________________________ 70. Comparing data from one source with data from other sources to determine the consistency of the data is known as performing a(n) ______. ________________________________________ 71. Tracking industry unit sales over the past twelve months is a form of ______ tracking. ________________________________________ 72. Reading The Wall Street Journal to study possible changes in stock prices is an example of ______. ________________________________________ 73. Using secondary data to study relationships between employee compensation and turnover is an example of ______. ________________________________________ 74. Predicting next month's dollar sales based on past sales for the previous twelvemonths is an example of a(n) ______. ________________________________________ 75. Techniques that use secondary data to select the best location for a retail or wholesale operation are called _____ techniques. ________________________________________ 76. The mathematical result of describing the relationship between retail demand and supply for a specific geographic area for a specific product is known as the index of retail ______ . ________________________________________ 77. When an organization uses powerful computers to try to discover patterns of customer relationships for its products, this is known as ______. ________________________________________ 78. _____ networks are a form of artificial intelligence in which a computer is programmed to mimic the way that human brains process information. ________________________________________ 79. _____ is a data-mining application that similarly involves mining data to look for patterns that can increase the value of customers. ________________________________________ 80. Using customer databases to provide customized relationships with customers for specific promotions is an example of ______ marketing. ________________________________________ 81. Data which are created outside of the organization are called ______ secondary data. ________________________________________ 82. Diverse types of data offered by a single company are known as ______ data. ________________________________________ 83. Explain why researchers often look for secondary data first when conducting research but also discuss the drawbacks of using secondary data.84. Name and describe the three broad objectives that can be achieved using secondary data and give an example of each. 85. Identify various internal sources of secondary data and explain how researchers can search this type of data. 86. Give examples of various external sources of secondary data and discuss how information, as a product, is distributed. 87. A researcher has been commissioned by a major U.S. consumer packaged-goods company to determine the market potential for peanut butter in China. Discuss some concerns the researcher may have when attempting to find and use secondary data in this country