ch6 day3

Computer software systems that enable one to manipulate and “map” information with great flexibility and speed are referred to as:

• geographical information systems (GIS).

• psychographics.

• survey research.

• census mapping.

A real estate analyst is attempting to identify the location pattern of jobs in a city by using data on the geographic locations of nonresidential buildings. Which of the following best identifies the market research tool that would allow the analyst to effectively map this locational data?

• geographical information systems (GIS).

• psychographics.

• survey research.

• census mapping.

A tool used by real estate analysts to relate a consumer’s activities, interests, opinions, and values to a consumer’s demographics is referred to as:

• geographical information systems (GIS).

• psychographics.

• survey research.

• census mapping.

In a real estate analyst’s evaluation of a retail property, the analyst seeks to utilize consumer demographic data to help distinguish various market segments. Which of the following best identifies the market research tool that would allow the analyst to conduct this type of analysis?

• geographical information systems (GIS).

• psychographics.

• cluster analysis.

• market forecasting.

Survey research has been applied to real estate markets at many levels. Despite its frequent application, analysts must be cautious with survey use because:

• it is difficult to implement.

• interviews and questionnaires are not received well by consumers.

• it cannot be used in a small sample area.

• it can be fraught with abortive errors.

A development team for a coastal condominium arranged for some of their sales staff to contact and interview owners of existing condominiums in the target area concerning what they liked and disliked about their units. Which of the following best describes the market research tool employed by this development team?

• geographical information systems (GIS).

• psychographics.

• survey research.

• census mapping

Survey research tools are typically viewed to be most useful at which of the following stages of a development project?

• initial project design

• construction financing

• building operation.

• recording of sale transaction

While predicting real estate cycles is difficult, a key indicator used to evaluate where a property is within the cycle is:

• the level of household income.

• the form of land use.

• the size of the property.

• the number of building permits issued.

Since most data that we would like to conduct a thorough market analysis is unavailable, a researcher will find it useful to find a data series that will closely represent the variable of interest. We typically refer to this type of variable as a:

• relevant.

• proxy.

• correlation.

• cluster.

When selecting a proxy variable to represent market data that is not readily available, researchers should select a data series that is highly _____________ with the variable of interest.

• correlated

• clustered

• irrelevant

• segmented