MKT 300 Quiz 6

A firm will often employ a ___ which is comprised of both people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers information to generate and validate actionable customer and market insights

MIS

A firm will often employ___ which is comprised of both people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers get information to generate and validate actionable customer market insights

MIS

The type of focus group research conducted by Dominos leverages what type of contact method?

Personal

When Domino's sat down with focus groups to talk with consumers and hear feedback on its pizza, the company was gathering___

Primary data

Lou Gerstner's leadership of IBM through "Operation Bear Hug" is an example of which of the benefits of community-centric marketing strategy?

Supports natural reinvention

An MIS user should most likely be able to ___

develop customer insights

Essentially, the marketing research process encompasses four steps. ___ is not a step in the research process

developing the MIS

Marketing managers, overloaded with data and often overwhelmed by it, face the issue of___, which refers to the huge and complex data sets generated by today's sophisticated information technologies

Big data

___integrates everything that a company's sales, service, and marketing teams know about individual customers, providing a 360-degree view of the customer relationship

CRM

Based on the findings of focus groups, Dominos gained valuable ___, which ultimately led to Dominos improving the ingredients used to make its pizzas

Customer insights

Ralph Goldsmith, works for Zenith Inc, a leading cosmetic company based in Illinois. At Zenith, Ralph's primary responsibility revolves around digging deeply into customer data to gain valuable insights about customer needs, motives and attitudes. This data is, in turn, used by Zenith to personalize its customer' shopping experiences. Ralph's position at Zenith requires him to focus primarily on ____

Customer relationship management

To develop needed information, marketing information systems utilize___

Internal databases, marketing intelligene and marketing research

Dominos identified that its pizza was unsatisfactory in the eyes of its customers. As a result, it sought to conduct formal research to find the best ingredients to improve the quality of its pizza. In the marketing research process, this would be which of the following steps?

Defining the problem and research objectives

Which of the following is not one of the benefits of a community-centric marketing strategy?

Diversity

Dominos pursued the approach of___to determine the best combination of pizza, sauce and cheese.

Experimental research

Many firms securely share relevant sales, inventory, product development and marketing information with suppliers and other external partners via its___

Extranet

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions in this instance, Kei is using____

Internal databases

Which of the following statements about competitive marketing intelligence is correct?

The goal of competitive marketing intelligence is to improve strategic decision making

A data warehouse is a database of finely detailed customer and market information that needs to be sifted through for significant pieces of information and trends. The data warehouse operates at which level?

company wide

Companies use___to sift through large amounts of big data and dig out interesting findings relevant to creating customer value

data mining

Companies use____to gather company wide, finely detailed customer and market information and store it in a centralized and accessible location

data warehouses

Companies set up___, which allow key customers and value-network members to access product, account and other data anytime they need to

extranets

Many firms use company intranet and internal CRM systems to facilitate the process of granting access to research and intelligence information, customer contact information, and reports within the firm. Some or all of this data might also be shared with suppliers, customers, resellers and select other network members via what delivery mechanism?

extranets

Customer relationship management (CRM) helps____

firms create artificial demand in the market

Customer relationship management (CRM) helps

firms manage customer touch points to maximize customer loyalty

Competitive marketing intelligence uses___data sources

publicly available

Any contact between a customer and a company is called a ____

touch point