Market Research MCQ Flashcards

A researcher uses a Likert scale with 7 points rather than 5 points. The main advantage of this choice is:

Answer: It provides more response granularity and variance in the data

A 7-point scale offers respondents finer gradations of opinion, capturing more nuanced differences in attitudes and increasing statistical variance.

What is 'panel fatigue' in market research?

Answer: Declining response quality or engagement among panel members who are surveyed too frequently

Panel fatigue occurs when respondents who participate in surveys too often become less engaged, leading to careless or rushed answers that reduce data quality.

In a discrete choice experiment (DCE), respondents are shown multiple product profiles and asked to choose their preferred option. The key advantage of DCE over direct rating scales is:

Answer: It mimics real purchase decisions by forcing trade-offs among attributes

DCE replicates real-world decision-making by forcing choices between competing options, producing more realistic preference estimates than direct rating approaches.

When a survey asks 'How did you first hear about us AND how satisfied are you with our service?' in a single question, this is an example of a:

Answer: Double-barreled question

A double-barreled question combines two separate inquiries into one, making it impossible to know which part the respondent answered.

Which of the following is an example of behavioral segmentation?

Answer: Grouping customers by purchase frequency and brand loyalty

Behavioral segmentation groups consumers based on their actual interactions with a product, such as usage rate, purchase frequency, or loyalty status.

A food company conducts a blind taste test where consumers evaluate unlabeled products. After branding is revealed, preferences shift significantly toward the well-known brand. This effect is known as:

Answer: Brand equity effect

Brand equity effect describes the premium in perceived value consumers assign to a product simply because of its brand identity, independent of physical product attributes.

Regression analysis in market research is primarily used to:

Answer: Understand the relationship between an independent variable and an outcome

Regression analysis quantifies how changes in one or more predictor variables (e.g., ad spend, price) are associated with changes in an outcome variable (e.g., sales).