Market Research Market Research 3 — Questions and Answers
Question 1: In conjoint analysis, what are participants typically asked to do?
- Rank product features by importance alone
- Rate overall brand satisfaction
- Evaluate trade-offs between product attribute combinations (Correct answer)
- Identify competitors' weaknesses
Correct answer: Evaluate trade-offs between product attribute combinations
Conjoint analysis presents respondents with different product profiles to choose between, revealing how they trade off attributes like price versus quality.
Question 2: What does a Net Promoter Score (NPS) primarily measure?
- Customer satisfaction with a recent transaction
- Likelihood that customers will recommend the brand (Correct answer)
- Product quality ratings across segments
- Brand awareness among non-customers
Correct answer: Likelihood that customers will recommend the brand
NPS asks customers how likely they are to recommend a company on a 0-10 scale, categorizing them as Promoters, Passives, or Detractors.
Question 3: Which approach is most appropriate when a researcher needs to understand 'why' consumers behave a certain way?
- Quantitative surveys
- Sales funnel analysis
- Qualitative research (Correct answer)
- A/B testing
Correct answer: Qualitative research
Qualitative research methods like interviews and focus groups explore underlying motivations, attitudes, and emotions that explain consumer behavior.
Question 4: What is 'quota sampling' in market research?
- Setting a minimum sample size requirement
- Selecting participants to match the demographic proportions of the target population (Correct answer)
- Limiting the number of questions per respondent
- Randomly selecting from a pre-screened list
Correct answer: Selecting participants to match the demographic proportions of the target population
Quota sampling ensures the sample reflects key demographic characteristics of the population by filling predetermined quotas for each subgroup.
Question 5: A market researcher notices that participants change their behavior when they know they are being observed. This is known as:
- The halo effect
- Demand characteristics / the Hawthorne effect (Correct answer)
- Confirmation bias
- Response acquiescence
Correct answer: Demand characteristics / the Hawthorne effect
The Hawthorne effect (or demand characteristics) occurs when participants alter their natural behavior because they are aware of being observed or studied.
Question 6: What is the purpose of a 'screener' questionnaire in recruitment for market research studies?
- To measure brand awareness before the main study
- To filter and qualify participants based on eligibility criteria (Correct answer)
- To test survey questions for clarity
- To rank potential research topics by priority
Correct answer: To filter and qualify participants based on eligibility criteria
A screener questionnaire identifies whether potential participants meet the specific criteria required for a study before including them.
Question 7: In market segmentation research, what does 'psychographic segmentation' focus on?
- Age, gender, and income levels
- Geographic location and climate
- Lifestyle, values, and personality traits (Correct answer)
- Purchase frequency and transaction size
Correct answer: Lifestyle, values, and personality traits
Psychographic segmentation divides consumers based on psychological attributes such as values, interests, attitudes, and lifestyle choices.
Market Research Market Research 3
In conjoint analysis, what are participants typically asked to do?