Marketing Research & Analytics Flashcards

A researcher uses a Likert scale in a survey. What type of data does this produce?

Answer: Ordinal

Likert scales produce ordinal data because responses are ranked but the distances between points are not mathematically equal.

Which sampling method divides a population into subgroups and then randomly samples from each subgroup proportionally?

Answer: Stratified random sampling

Stratified random sampling divides the population into strata and draws proportional random samples from each, improving representativeness.

What does a high Cronbach's alpha (e.g., 0.90) indicate in a marketing survey scale?

Answer: High reliability

Cronbach's alpha measures internal consistency reliability; values above 0.70 indicate the scale items consistently measure the same construct.

A company tracks how many unique visitors convert to paying customers each month. This is an example of what metric?

Answer: Conversion rate

Conversion rate measures the percentage of visitors or prospects who complete a desired action, such as making a purchase.

In regression analysis, what does the R-squared value represent?

Answer: The proportion of variance in the dependent variable explained by the model

R-squared (coefficient of determination) indicates what percentage of variation in the outcome variable is explained by the independent variables.

Which type of marketing research is best suited for testing a specific hypothesis about consumer behavior?

Answer: Causal research

Causal research uses controlled experiments to establish cause-and-effect relationships and test specific hypotheses.

What is the primary risk of using a convenience sample in marketing research?

Answer: Results that cannot be generalized to the broader population

Convenience samples select readily available participants, introducing selection bias and limiting the generalizability of findings to the target population.