MRA Market Analysis & Consumer Behavior 3 — Questions and Answers
Question 1: A researcher uses store scanner data to track weekly brand sales across 500 retail locations. This is an example of:
- Primary qualitative research
- Syndicated panel data
- Point-of-sale (POS) secondary data (Correct answer)
- Ethnographic observation
Correct answer: Point-of-sale (POS) secondary data
Scanner-based sales data collected at retail is a form of secondary POS data used to analyze market performance.
Question 2: Maslow's hierarchy of needs is applied in market research primarily to:
- Calculate price elasticity
- Understand consumer motivation drivers (Correct answer)
- Segment by household income
- Design A/B test frameworks
Correct answer: Understand consumer motivation drivers
Maslow's hierarchy helps researchers identify which level of consumer need a product addresses, guiding messaging and positioning.
Question 3: Which Porter's Five Forces element directly affects a firm's ability to raise prices without losing customers?
- Threat of new entrants
- Bargaining power of suppliers
- Threat of substitutes (Correct answer)
- Industry rivalry
Correct answer: Threat of substitutes
A high threat of substitutes limits pricing power because consumers can easily switch to alternative products.
Question 4: In consumer decision-making, the 'evoked set' refers to:
- All brands the consumer has ever purchased
- The emotional response to advertising stimuli
- The subset of brands actively considered during purchase (Correct answer)
- Brands recalled only through aided prompting
Correct answer: The subset of brands actively considered during purchase
The evoked set is the limited group of brands a consumer consciously considers when making a purchase decision.
Question 5: A market researcher finds that two variables have a Pearson correlation of -0.85. This indicates:
- No meaningful relationship
- A strong positive relationship
- A strong negative relationship (Correct answer)
- A weak negative relationship
Correct answer: A strong negative relationship
A Pearson correlation of -0.85 indicates a strong inverse relationship where one variable increases as the other decreases.
Question 6: When a brand positions itself as 'the affordable luxury option,' it is employing which positioning strategy?
- Competitor-based positioning
- Benefit-based positioning
- Value-based positioning (Correct answer)
- User-based positioning
Correct answer: Value-based positioning
Value-based positioning communicates a favorable price-to-quality ratio, appealing to consumers seeking premium quality at accessible prices.
Question 7: The concept of 'market penetration rate' is calculated as:
- Total sales divided by advertising spend
- Number of category buyers divided by total population (Correct answer)
- Market share divided by profit margin
- New customers divided by total customers
Correct answer: Number of category buyers divided by total population
Penetration rate measures the proportion of a target population that has purchased from the product category at least once.
MRA Market Analysis & Consumer Behavior 3
A researcher uses store scanner data to track weekly brand sales across 500 retail locations.
This is an example of: