Question

I 1. Cost-plus projects are typically found in situations where: a. the researchers are required to travel. b. a research firm is recognized as providing high-quality output. C. a client requires frequent progress reports. d. a research department of a large corporation conducts a project for another department. e. a research firm's fees fall within the 90 percentile. 2. What is the general rule for selecting a marketing research supplier? a. Choose the least expensive supplier and, if the project's needs exceed their abilities, move to the next supplier b. Choose the smallest firm consistent with the scope of the project, as long as the project is not more than 30% of the supplier's annual revenues. c. Choose the vendor that has the best reputation. d. Choose the smallest firm consistent with the scope of the project, as long as the project is not more than 15% of the supplier's annual revenues. e. There is no general rule. 3. The key to staying on the acceptable vendor lists is in the contribution a supplier makes to the company. This means understanding a. The client's industry b. The tracking of industry trends c. Customization of offerings to meet client's unique needs d. All of these 4. Which of the following will not help the researcher communicate for impact? a. Leverage visual storytelling, incorporating video where possible b. Know the audience and their ingoing beliefs c. Telling the audience wants to know what they should do d. Telling the audience what they did in the study e. All of these 5. If the client finds even small mistakes in the communication of the findings, the credibility of the researcher and all of the research findings may be brought into serious question. a. True b. False

Answer 1

Answer 1:

The correct option is “d. a research department of a large corporation conducts a project for another department”.

Here in this case the additional expenses or overheads plus a fixed of amount of profit is considered.

Answer 2:

The correct option is “b. Choose the smallest firm consistent with the scope of the project, as long as the project is not more than 30% of the supplier's annual revenues”.

As larger marketing research suppliers works more by their SOPs about the scope of project. Smaller firms on the other hand are a bit flexible however the project should not be so big or the which cannot be managed by them.

Answer 3:

The correct option is “d. All of these”

Understanding client’s industry, tracking the trends, and customizing the offerings helps in being the favorite of the a company and helps in find place in the acceptable vendor list.

Answer 4:

The correct option is “d. Telling the audience what they did in the study”.

Telling the audience what they did in the study does not create an impact. This on the other hand makes the communication more distant from the audience, as the audience is more interested in the result rather than how the results came.