Market Research Trivia 2 — Questions and Answers
Question 1: Which company is credited with pioneering modern market research by commissioning the first large-scale consumer survey in the 1920s?
- Procter & Gamble (Correct answer)
- General Motors
- Coca-Cola
- Ford Motor Company
Correct answer: Procter & Gamble
Procter & Gamble pioneered large-scale consumer research in the 1920s to better understand soap and household product preferences.
Question 2: What does the acronym 'CAPI' stand for in market research data collection?
- Computer-Assisted Personal Interviewing (Correct answer)
- Consumer Analytics Platform Integration
- Categorical Analysis and Product Indexing
- Cumulative Audience Perception Index
Correct answer: Computer-Assisted Personal Interviewing
CAPI stands for Computer-Assisted Personal Interviewing, where interviewers use tablets or laptops to record responses in real time.
Question 3: Which statistical technique is used in market research to group consumers with similar characteristics into distinct segments?
- Cluster analysis (Correct answer)
- Regression analysis
- Factor analysis
- Discriminant analysis
Correct answer: Cluster analysis
Cluster analysis groups respondents or items with similar attributes together, making it ideal for market segmentation.
Question 4: What is a 'mystery shopper' primarily used to evaluate in market research?
- Customer service and retail experience quality (Correct answer)
- Product pricing competitiveness
- Online advertising effectiveness
- Supply chain efficiency
Correct answer: Customer service and retail experience quality
Mystery shoppers pose as regular customers to covertly assess the quality of service, compliance, and retail experience.
Question 5: In a Likert scale, responses typically range from 'Strongly Disagree' to 'Strongly Agree.' How many response options does a standard 5-point Likert scale have?
- 5 (Correct answer)
- 4
- 7
- 10
Correct answer: 5
A standard Likert scale has 5 points: Strongly Disagree, Disagree, Neutral, Agree, and Strongly Agree.
Question 6: What is the term for the tendency of survey respondents to answer questions in a way they think will please the researcher?
- Social desirability bias (Correct answer)
- Acquiescence bias
- Recency bias
- Framing effect
Correct answer: Social desirability bias
Social desirability bias occurs when respondents give answers they believe are socially acceptable rather than truthful.
Question 7: Which type of research design tests a cause-and-effect relationship between variables under controlled conditions?
- Experimental research (Correct answer)
- Exploratory research
- Descriptive research
- Observational research
Correct answer: Experimental research
Experimental research manipulates one variable while controlling others to establish causal relationships.
Market Research Trivia 2
Which company is credited with pioneering modern market research by commissioning the first large-scale consumer survey in the 1920s?