Trivia Flashcards

What does 'conjoint analysis' measure in market research?

Answer: How consumers value different product attributes when making trade-offs

Conjoint analysis reveals how consumers weigh different product features against each other, simulating real-world purchasing trade-offs.

Which of the following best describes 'primary data' in market research?

Answer: Data collected firsthand specifically for the current research purpose

Primary data is original information collected directly from sources (surveys, interviews, experiments) for the specific study at hand.

What is 'unaided brand awareness' in survey research?

Answer: Respondents recall a brand without being prompted

Unaided awareness is measured by asking respondents to name brands in a category without any prompts or lists provided.

The Net Promoter Score (NPS) is calculated by subtracting the percentage of 'Detractors' from the percentage of which group?

Answer: Promoters

NPS = % Promoters (score 9–10) minus % Detractors (score 0–6); Passives (7–8) are not included in the calculation.

In market research, what is a 'panel' study?

Answer: A fixed group of respondents surveyed repeatedly over time

A panel study tracks the same group of participants across multiple time points to observe changes in behavior or attitudes.

Which sampling method gives every member of a population an equal and known chance of being selected?

Answer: Simple random sampling

Simple random sampling ensures every individual in the target population has an equal probability of selection, minimizing selection bias.

What is 'perceptual mapping' used for in market research?

Answer: Visualizing how consumers perceive brands relative to competitors on key attributes

Perceptual maps plot brands on a two-dimensional grid based on consumer perceptions, revealing competitive positioning.