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 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

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

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.

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

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

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 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 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

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

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

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

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