The principal ways to collect new or primary data for a marketing study are by watching people and by asking them questions. Give two examples of each method.
What will be an ideal response?
Observing people includes watching, either mechanically or in person, how people actually behave. For example, Nielsen TV ratings use set-top boxes to monitor what people watch. Mystery shoppers who observe the behavior of retail clerks are another example. Asking people questions can be done using questionnaire data, which asks people about their attitudes, awareness, intentions, and behaviors. It can also be done using depth interviews. Focus groups are another way of asking people, which involves informal sessions of 6 to 10 past, present, or prospective customers in which a moderator asks their opinions. [NOTE: Students may provide other examples, such as personal methods (ethnographic research), neuromarketing, trend hunting, questionnaires (personal, mail, telephone, fax, and online/Internet), mall intercept interviews, social media, panels, experiments, information technology, and data mining.]
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The allowance method based on the idea that a given percent of a company's credit sales for the period is uncollectible is:
A. Direct write-off method. B. The percent of accounts receivable method. C. The percent of sales method. D. The aging of accounts receivable method. E. Factoring method.
Consider the portion of the sensitivity analysis report that follows. The current optimal solution will not change as long as the objective coefficient of X1 is within the range of ______.
A. 4–9
B. 1–4
C. 5–9
D. 3–6
In assigning random numbers to probabilistic events in a simulation:
A) several events are associated with the same random number. B) every random number is associated with a particular event. C) every event is associated with the same random number. D) the events dictate the seed number of the random number stream.
Goods become identified when the seller and the buyer decide on the exact goods to be sold
Indicate whether the statement is true or false