Marketing Management Chapter Ten

Marketing analytics makes it possible for marketers to analyze large amounts of collected data concerning customer information and purchase histories to accomplish which of the following? (choose all that apply) - optimize marketing returns - improve marketing decision making - reduce specialized marketing for different market segments - make appropriate customer- related decisions

- optimize marketing returns - improve marketing decision making - mai appropriate customer-related decisions

Stages of marketing research process, put them in order: - analyzing data and developing insights - collecting the data - defining objectives and needs - designing the research - developing and implementing an action plan

1. Defining objectives and needs 2. Designing the research 3. Collecting the data 4. Analyzing data and developing insights 5. Developing and implementing an action

Which of the following are included in marketing research? - analyzing data - interpreting data - collecting data - selling data - editing data

analyzing data interpreting data collecting data

True or False? Primary data is data that is gathered by a firm directly through its own research?

True

True or false? The source domains of marketing analytics methods include psychology, sociology, econometrics, and linguistics.

True

True or false? A focus group is a large group of people with knowledge about the product category and brand?

False A focus group is a small group of people put together for an intensive discussion > is led by a researcher in an unstructured discussion

True or false? Marketing researchers are free to use customer data in any way they need to, as long as the researchers did not collect it.

False Marketing researchers must avoid abusing customers' privacy by accessing personal data inappropriately

True or False? Qualitative research relies on experiments and surveys.

False Qualitative research relies on observation, focus groups, social media and in-depth interviews. Experiments an surveys are apart of quantitative research.

An advantage of secondary data is that, compared to primary data, they _______. - provide more specific insights - are usually available at a lower cost - offer greater exclusivity - are guaranteed as being more trustworthy

are usually available at a lower cost secondary data are either already available to a firm internally or are available publicly at relatively low cost

When merchandise is sold, stores compile data about the purchase. Then the data is entered into a huge database known as a(n) ______. - data warehouse - RFID system - UPC code system - cash register

data warehouse

The second step in the marketing research project involves design. In this step, researchers identify the type of _____ needed and work out the type of ______ necessary to collect it.

data; research

An in-_____ _____ is a qualitative research technique in which researchers ask questions in a one-on-one setting, record the answers, and then ask additional questions to clarify a particular issue.

depth, interview

Observation can be described as _____ through personal viewing or by means of a video camera. - examining purchase and consumption behavior - prohibiting certain behaviors - counting sales - asking questions to record answer of participants

examining purchase and consumption behavior observation involves watching how consumers behave

Because research is ______, it is important to figure out beforehand exactly what problem needs to be solved. - proprietary and time-consuming - proprietary and informative - expensive and time-consuming - expensive and uninformative

expensive and time-consuming because research consumes a good deal of resources, it is important to have a clear idea of the problem in advance

Which of the following is NOT an advantage of secondary research? - it requires relatively little research design - it is often free (or can be obtained at a low cost) - it is the best source of unbiased data - it is quicker to collect than primary data

it is the best source of unbiased data

Analyzing data that has been already collected to improve marketing decisions, optimizing marketing returns, and making appropriate customer-related decisions is the function of _______.

marketing analytics

______ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas.

marketing research

information stored in the data warehouse _____. - may be accessed by analysts from various levels of the corporation - is kept hidden from all personnel except top management - includes competitors' data - gives customers' income data

may be accessed by analysts from various levels of the corporation

In the second step of the marketing research process, what factor determines the type of data needed? - project budget - expected results - number of researchers - project objectives

project objectives objectives help shape the data requirements

______ research, such as a focus group, attempts to begin to understand phenomena of interest with broad, open-ended questions. - experimental - survey - qualitative - secondary - quantitative

qualitative qualitative research uses broad questions to help researchers better focus their objectives

Which of the following is an accurate definition of the term data? - raw numbers with no intrinsic meaning - conclusions derived from the analysis of raw numbers - methods used for collecting information on a subject - goals or benchmarks that a firm strives to achieve

raw numbers with no intrinsic meaning data collected for marketing research purposes usually have little value until they are evaluated or analyzed.

The last phase of the marketing research process is presenting ______ to decision makers. - an invoice - untested theories - raw data - results

results results are presented when the research has been completed an the data interpreted

Marketers can purchase ______ data, which are secondary data available for a fee from commercial research firms.

syndicated

If a media company wants information on consumers' television viewing habits, it can purchase reports compiled by commercial research firms such as Nielsen. This is an example of ______ data. - internal - primary - obscure - syndicated

syndicated syndicated data are those gathered by commercial firms specifically with the intent to sell them.

When researchers define the objectives and needs of their project, what are they trying to establish? - the results that need to be confirmed - the methods by which they will collect data - the best method of delivering results to the client - the problem that needs to be solved

the problem that needs to be solved clearly defining objectives and needs in advance helps focus research on a specific problem.

In most situations, data collection should begin only after ______. - the researcher has requested primary data needed - the research design process is finished - the data are interpreted as information - data analysis is complete

the research design process is finished data collection (step three) should begin after the completion of research design (step two)

What are the four broad categories into which marketing analytics tools and methods can be classified? - correlational - prescriptive - descriptive - predictive - active

prescriptive descriptive predictive active