Market Research Market Research MCQ 2 — Questions and Answers
Question 1: What is the primary purpose of a conjoint analysis in market research?
- To measure brand awareness
- To determine how consumers value different product attributes (Correct answer)
- To track competitor pricing strategies
- To segment customers by demographics
Correct answer: To determine how consumers value different product attributes
Conjoint analysis reveals the relative importance consumers place on various product features by asking them to evaluate trade-offs.
Question 2: Which sampling method would be MOST appropriate when a researcher needs to ensure every subgroup of a population is proportionally represented?
- Simple random sampling
- Convenience sampling
- Stratified random sampling (Correct answer)
- Snowball sampling
Correct answer: Stratified random sampling
Stratified random sampling divides the population into subgroups and randomly samples from each in proportion to their size.
Question 3: A researcher finds a Cronbach's alpha of 0.45 for a multi-item scale. This indicates:
- Excellent internal consistency
- Acceptable reliability for exploratory research
- Poor internal consistency requiring scale revision (Correct answer)
- High test-retest reliability
Correct answer: Poor internal consistency requiring scale revision
Cronbach's alpha below 0.70 generally indicates poor internal consistency, suggesting scale items don't reliably measure the same construct.
Question 4: In a brand tracking study, 'top-of-mind awareness' is measured by asking respondents to:
- Rate a brand on a scale of 1–10
- Name the first brand they think of in a category without prompting (Correct answer)
- Choose their preferred brand from a list
- Recall a brand after seeing its logo
Correct answer: Name the first brand they think of in a category without prompting
Top-of-mind awareness captures the single brand that spontaneously comes to mind first when a category is mentioned.
Question 5: Which of the following best describes 'ethnographic research' in a market research context?
- Administering online surveys to a diverse population
- Observing consumers in their natural environment to understand behavior (Correct answer)
- Analyzing historical sales data for patterns
- Conducting telephone interviews with random respondents
Correct answer: Observing consumers in their natural environment to understand behavior
Ethnographic research involves immersive observation of consumers in real-life settings to uncover deep behavioral and cultural insights.
Question 6: A company wants to test whether a new product concept resonates with its target market before full launch. The MOST appropriate research approach is:
- A longitudinal panel study
- A concept test with target consumers (Correct answer)
- A competitive intelligence audit
- A retail sales audit
Correct answer: A concept test with target consumers
Concept testing exposes potential customers to a product idea and measures their reactions, intent to purchase, and perceived value before launch.
Question 7: What does a 'net promoter score' (NPS) specifically measure?
- Customer satisfaction with a recent transaction
- The likelihood that customers will recommend a brand to others (Correct answer)
- The percentage of loyal repeat buyers
- Overall brand equity relative to competitors
Correct answer: The likelihood that customers will recommend a brand to others
NPS asks customers how likely they are to recommend the company on a 0–10 scale, then subtracts detractors from promoters.
Market Research Market Research MCQ 2
What is the primary purpose of a conjoint analysis in market research?