Question

Which of the following statements concerning probability sampling is not true? a. The target population defines the research objective. b. The definition of alternative target populations can nearly always be made. c. The sample frame consists of a list of population members or of a procedure by which sampling units can be located. d. When a choice exists, preference should be given to populations that are convenient to sample. e. The specification of a target population should make clear what is excluded.

Stratified sampling may be used when

a. subgroups that are representative of the whole population can be identified.

b. natural subgroups are more homogeneous than the population they come from.

c. an expert is available to identify a representative population.

d. the sample is very small.

e. none of the above.

Buyer-centric organizations' approach to offering products and services include

a. Providing solutions that empower customers to make informed decisions.

b. Providing solutions that closely reflect customer preferences

c. Helping customers to maximize efficiency, productivity and marketable value of personal assets

d.All of the above

Which is the first step in customer lifetime value (CLV) maximization cycle?

a. Pitching the Right Product to the Right Customer at the Right Time

b. Managing Loyalty and Profitability Simultaneously

c. Customer Selection

d. Optimal Allocation of Resources

e. Preventing Customer Attrition

Answer 1

1) b (The definition of alternative target populations can nearly always be made)

It is not easy to define alternative target population as the objective may get impacted

2) a (subgroups that are representative of the whole population can be identified)

If subgroups are easy to identify, then stratified sampling is can be used

3) d

All of the above are true for buyer-centric approach which aims at maximizing value to customer, help in informed decision etc.

4) a

It is very important to ensure that right product is provided to right customer at the right time