CBS Market Analysis & Research 5

Question 1

A strategist uses regression analysis on historical sales data to forecast next year's demand. This approach is categorized as:

Accepted Answer

Causal quantitative forecasting

Answer

Causal quantitative forecasting uses statistical relationships between variables (like sales and economic indicators) to predict future outcomes.

Question 2

When a market research report states findings are significant at p < 0.05, it means there is less than a 5% probability that:

Accepted Answer

The observed results occurred by random chance

Answer

A p-value < 0.05 indicates there is less than a 5% probability the observed relationship or difference is due to random chance alone.

Question 3

A company segments its B2B market by industry type, company size, and purchasing process. This is known as:

Accepted Answer

Firmographic segmentation

Answer

Firmographic segmentation applies demographic-style variables (industry, size, revenue, location) specifically to B2B markets.

Question 4

A pharmaceutical company analyzes prescribing patterns across different physician specialties. Which type of analysis best identifies distinct physician segments?

Accepted Answer

K-means cluster analysis

Answer

K-means cluster analysis groups data points (physicians) into distinct clusters based on similarity of behaviors like prescribing patterns.

Question 5

When conducting a competitive gap analysis, a strategist identifies features that competitors offer but the company does not. These are called:

Accepted Answer

Capability gaps

Answer

Capability gaps are areas where competitors have established advantages or offer features that the company currently lacks.

(CBS) Certified Business Strategist Practice Test

(CBS) Certified Business Strategist Practice Test

CBS Market Analysis & Research 5