Market Research and Analysis for Tech Industries Quiz Answers

Get All Weeks Market Research and Analysis for Tech Industries Quiz Answers

Week 01: Quiz 1

Q1. Why Can Bad Marketing Ruin Great Engineering?

• Customers are stupid
• Companies often communicate the wrong things about their products.
• Customers are easily confused.
• Companies always get it right.

Q2. All of the following are reasons why Digital Marketing is powerful, except:

• Everything is measurable.
• Billboards are very effective when traffic is slow.
• Digital ads are often less expensive.
• Don’t need a team of experts.

Q3. Good criteria for selecting a client company include (select all that apply):

• Relatively young.
• Low or no revenue yet.
• Smaller.
• Has cool Tech. Yes!
• Must sell to consumers and not to businesses.

Week 02: Quiz 2

Q1. Which segments of the product adoption curve should Netflix target with its digital advertising? Which segment most reflects their core customer today?

• Innovators
• Early Adopters.
• Early Majority.
• Laggards.

Q2. Which product adoption curve (TALC) segment has the key driver of purchases, “Technology is life!”

Innovators segment.

Q3. Which product adoption curve (TALC) segment has the key driver of purchases, “I want an established industry standard.”

Late Majority segment

Q4. You have been tasked with creating a marketing strategy for NEST to cross the chasm. What would be on your agenda? (Select all that apply)

• All of the above.
• Reducing privacy concerns.
• Collecting feedback from shoppers at Home Depot and similar.
• Increase spending on existing marketing strategy.

Q5. Which of the following reasons fall under Roger’s 5 factors when switching from Walkman (cassette tape) to iPod?

• Smaller and sleeker.
• Higher storage.
• Familiar buttons and functions.
• A white headphone cord is a clear sign you have an iPod.

Q6. Which of Roger’s 5 factors is best highlighted in this photo ad for Nike Air Max 360?

• Conspicuousness
• Trialability
• Relative Advantage
• Complexity

Week 03: Quiz 3

Q1. If an employee gets reimbursed for her vehicle expenses, is it B2B or B2C when she buys a car?

Q2. Global supply chain disruption due to Covid resulted in many companies moving their manufacturing to domestic locations (E.g. Made in America). Which Svoboda’s B2B pain/need hierarchy level is this an example of?

• Subsistence
• Refinement
• Competitiveness
• Expansion

Q3. Gum, candy, and magazines at the Target stores checkout are for impulse purchases.

Q4. Banks offered ‘worry-free’ mortgages during the 2008 Great Recession. What level of Maslow’s hierarchy was that?

• Safety.
• Social.
• Esteem.
• Psychological

Q5. How would B2B personas be different for a manager buyer rather than a mid-level engineer buyer?

• All of the above.
• Emphasis on cost rather than quality.
• Years of experience
• More authority to decide.

Skyspecs Drone Inspection Services Case Study Quiz

Q1. Characterize the importance of wind energy in the renewable energy industry.

• Critical
• Very important
• Important
• Somewhat important
• Not very important
• Trivial

Q2. Who is the SkySpecs customer?

• Wind turbine manufacturers
• Homeowners with solar panels
• Businesses that pay extra for renewable energy
• Wind farm operators
• U.S. Dept. of Energy
• Electric Utilities

Q3. What word best characterizes the wind turbine industry’s approach to maintenance?

Proactive

Q4. As wind turbines get taller, which types of inspection are made much more challenging? Select all that apply:

• A: SkySpecs Piloted Drone
• *B: Direct Observation
• C: Telephotography
• D: Turbine Operators DIY Drone

Q5. As wind turbines move offshore, into remote ocean waters, which types of inspection are made much more challenging? Select all that apply:

• Skyspecs Piloted Drone
• Direct Observation
• Telephotography
• Farm Operators DIY Drone

Q6. Match the growth strategy to the key capacity Skyspecs would need to add in order to execute. The strategies are:

• Value Added Services.
• New Domestic Markets
• Increasing Automation
• International Expansion

Match the above to these needed capacities, in order:

1. Database management and financial analysis expertise.
2. Reputation among potential customers.
3. Expertise on damage to structures that are not wind turbines.
4. Acquire or develop autopilot capacities.

Q7. With future turbines being mostly very tall and offshore, if SkySpecs could employ the nested/autonomous strategy, in what ways would this be advantageous? Select all that apply.

• Pilot/inspector transportation time to remote turbine site
• Risky climbing of direct observation
• Challenging telephotography from boats rocking in the ocean
• Pilot/Inspector time to inspect
• Cost & complexity to repair or replace drones when they break
• Challenging drone piloting from boats rocking in the ocean

Q8. Which expansion/growth strategy do you consider to be the best?

• New Domestic Markets
• International Expansion
• Increasing Automation
• Value Added Services

Week 05: Quiz 5

Q1. Which are examples of primary research, and which are secondary research?

1. Observing customers using the product.
2. Thermoplastic Market Trends Report for 2020.
3. 1-on-1 interviews with existing customers.
4. Press releases

• All are Secondary
• 3,4 are Primary, 1,5 are secondary
• 1,5 are Primary, 3,4 are secondary
• 1,3 are Primary, 2,4 are secondary

Q2. Which of these are poor survey questions?

• “Tell us why the Thrax is the best pickup truck on the market.”
• How can Governor Robert Smith be defeated in the next election?
• How many times did you get take-out food last week?
• Do you cheat on your taxes?

Q3. For decades the field of economics treated consumers as purely rational and objective. That approach has been found to be significantly lacking in recent years. Which are examples of consumers behaving irrationally?

• $25 subscriptions sell far better when a $35 deluxe option is added.
• Teenagers buy a certain shoe only after seeing it on social media personalities.
• People buying Teslas when they never even had a test drive.
• The success of “limited editions” of many categories of products.

Q4. Some service businesses, such as dog walking or hair salons, have been shown at times to get more customers when they raise prices. This is an expression of:

• Loss aversion.
• Pricing Bias
• Social proof
• Endowment effect.

Q5. For which of the following topics is focus group better to gather data?

• All of the above.
• Medical condition treatments
• New product ideas
• Price sensitivity for a laptop
• City government priorities

Week 06: Quiz 6

Q1. For a chief marketing officer, which of the following would be good measures of campaign success? Select all that apply.

• Increasing the number of clicks
• Larger number of unsubscribers
• More unique subscribers
• A higher percentage of emails opened.

Q2. Which is an ineffective metric for Amazon investors?

• No. of orders
• Website Traffic
• No. of transactions
• Purchase conversion rate

Q3. An e-bike company launched a new targeting of potential customers who think of themselves as very active. What type of segmentation is this?

• Demographic
• Psychographic
• Geographic
• Behavioral

Q4. Positioning matrix for a 3D Printing Co. and a traditional Machining Co. is given.

If the 3D Printing Co. develops new and cheaper materials that bring the cost to being comparative to Machining Co., which direction would that firm move from it’s starting place?

Q5. True or false: If a company employs conjoint analysis and finds that their customers are not aligned on the priority of product features, the company should just highlight the features they think are a priority using advertising.

Conclusion

The Market Research and Analysis for Tech Industries Quiz Answers provides a pathway to strategic excellence in the tech realm. Armed with a deeper grasp of market dynamics, consumer preferences, and data-driven methodologies, you’re equipped to steer your tech venture toward growth and innovation. TechCrunch is a reputable technology news source that provides up-to-date insights into the latest developments, trends, and analyses within the tech industry.

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