BUS 140 CH 4 QUIZ
A power tool company wants to give its customers access to internal, nonpublic information about how best to use its product in creative ways. What should the company create to provide customers with this information? A. A company extranet . B. A company website C. A company intranet D. A data warehouse E. A company data mine
A company extranet
What constitutes a marketing information system (MIS)? A. A system of competitive marketing intelligence B. A customer insights and analysis team C. A system to generate and validate actionable customer and market insights D. A customer relationship management system E. An internal database that is used with big data
A system to generate and validate actionable customer and market insights
Calvin's Cupcakes is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST path for this company to start to develop an efficient MIS? A. Assess the information needs of the company B. Determine how to use the information gathered by market research C. Distribute necessary information to the marketing team D. Analyze the information gathered in market research E. Conduct surveys or focus groups to gather information
Assess the information needs of the company
Which of the following is NOT a step in the marketing research process? A. Defining the research problem B. Comparing research findings to other studies C. Implementing the research plan Your answer is not correct. D. Developing the research plan E. Interpreting and reporting the findings
Comparing research findings to other studies
Which of the following is NOT a primary goal of competitive marketing intelligence? A. Improving strategic decision making B. Providing early warnings of threats C. Creating an understanding of the business-to-business environment D. Providing early warnings of opportunities E. Assessing and tracking competitors' actions,
Creating an understanding of the business-to-business environment
Which of the following describes the type of research used to help define the research problem and suggest hypotheses? A. Causal research B. Exploratory research C. Secondary research D. Descriptive research E. Primary research
Exploratory research
A company is conducting market research to determine the best areas in which to sell its product. It has developed the research plan. What is the next step of this company's research plan? A. Define the problem. B. Analyze potential data sources C. Determine the best method to conduct research D. Share the data with other companies in similar situations E. Implement the plan
Implement the plan
Marketers obtain needed marketing information from which of the following? A. Internal data, big data, and market research B. Marketing intelligence, marketing research, and the marketing environment C. Internal data, marketing research, and marketing managers D. Marketing managers, information users, and internal databases E. Internal data, marketing intelligence, and marketing research
Internal data, marketing intelligence, and marketing research
___________consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance. A. Marketing information B. Marketing analytics C. CRM D. Big data E. Touch points
Marketing analytic
Which of the following statements about online research is correct? A. It is more expensive to conduct online research than to do a mail, phone, or personal interview. B. Experiments cannot be conducted online. C. Focus groups are rarely conducted online. D. Online research is only feasible for large companies. E. Online surveys generally have higher response rates than those conducted by mail or phone.
Online surveys generally have higher response rates than those conducted by mail or phone.
Which of the following would be good advice for someone conducting marketing research in a foreign country? A. Language translation will be easy. B. Globalization has slowed down, so international research is no longer necessary. C. You can easily find good secondary data in most foreign markets. D. Consumers in foreign markets generally enjoy participating in marketing research. E. Reaching respondents in other parts of the world is more difficult than it is in the United States.
Reaching respondents in other parts of the world is more difficult than it is in the United States.
Which of the following information must a researcher evaluate to make certain it is relevant, accurate, and impartial? A. Big data analytical information B. Focus group information C. Secondary information D. Survey information E. Primary information
Secondary information
Which of the following BEST describes the purpose of customer insights? A. To instruct other company departments in customer service B. To develop new markets of customers for the company C. To create more value for customers D. To represent the company to its customers E. To advertise new products to customer bases
To create more value for customers
Why is it important for a company to collect both primary and secondary data when conducting marketing research? A. To ensure the data is usable B. To have a "full picture" of the subject of its study C. To guarantee the product being researched will be successful D. To avoid complaints that the study is not reliable E. To keep costs down
To have a "full picture" of the subject of its study
Which of the following correctly describes customer purchases, sales force contacts, service and support calls, web and social media site visits, satisfaction surveys, credit and payment interactions, and market research studies? A. Purchases B. Touch points C. Satisfaction surveys D. Sales calls E. Service calls
Touch points
Which types of companies would most benefit from conducting marketing research? A. Only medium-sized companies that are about half the size of Disney and IBM B. Only small local firms, like Beatrice's Bistro C. Both large multinational firms like Disney and IBM and small local firms D. Neither large multinational firms like Disney and IBM nor small local firms E. Only large multinational firms like Disney and IBM
Both large multinational firms like Disney and IBM and small local firms
Juanita owns a small hot-air balloon company in Albuquerque, New Mexico. She recently started a Facebook page for her company, and many of her customers are asking for store-sponsored hot-air balloon trips. They believe Juanita's expertise would make her the perfect guide. Juanita decides to host quarterly hot-air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Juanita's situation? A. Most small businesses have no way of easily accessing customer insights. B. Customer insights can be gained only through costly market research. C. Customer insights can provide valuable information to a small businesses. D. Customer insights are emotional and often irrelevant to a small business. E. Customer insights are not dependable.
Customer insights can provide valuable information to a small businesses.
An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following is the CPO MOST likely to do as a function of his or her job? A. Track the clicks of customers on websites B. Use customer data in such a way to convince customers to buy products C. Inform customers of the company's privacy policy D. Compile an exhaustive resource of customer data E. Scour consumer financial information
Inform customers of the company's privacy policy
Which of the following BEST describes research relationships? A. Observation is best suited for descriptive research, surveys for exploratory research, and experiments for causal research. B. Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research. C. Observation is best suited for causal research, surveys for exploratory research, and experiments for descriptive research. D. Observation is best suited for descriptive research, surveys for causal research, and experiments for exploratory research. E. Observation is best suited for exploratory research, surveys for causal research, and experiments for descriptive research.
Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research.
Which of the following statements about big data is correct? A. Big data is only used by big companies. B. Analyzing big data always leads to useful customer insights. C. Big data actually refers to very small data sets. D. Analyzing big data is a very easy task. E. One result of big data is that marketing managers are often overloaded and overwhelmed with information.
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
Which of the following is the primary reason firms use competitive marketing intelligence? A. To make early decisions regarding pricing strategies of competitors B. To understand more about a competitor's new product development efforts C. To gain early insights into competitor moves and strategies, and to prepare quick responses D. To assess and respond to a competitor's social media strategies E. To gain an understanding of a competitor's channels of distribution
To gain early insights into competitor moves and strategies, and to prepare quick responses
A company's marketing information system (MIS) is valuable because it ___________________. A. enables a company to use customer insights to improve relationships with customers B. allows a company to outperform its competitors in the marketplace C. maintains the company's internal database of customers D. ensures that the company will have good customer service E. increases the likelihood that a customer will buy a product
enables a company to use customer insights to improve relationships with customers
You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange, you receive a small payment. You are participating in a(n) ________. A. immersion group B. experiment C. ethnographic study D. individual interview E. focus group
focus group
The real value of marketing information rests in the _____________________. A. marketing intelligence it uncovers B. support of a company's marketing research C. social media data it uses D. customer insights it provides E. amount of big data it analyzes
customer insights it provides