Ch 4 Quiz

Competitive marketing intelligence is primarily responsible for​ _____________. A. the systematic collection and analysis of publicly available information B. using primary data over secondary C. implementing the research plan D. developing the research plan E. defining the problem

A

Which of the following BEST describes the purpose of the customer insights​ team? A. To create more value for customers B. To instruct other company departments in customer service C. To develop new markets of customers for the company D. To advertise new products to customer bases E. To represent the company to its customers

A

Which of the following is NOT a step in the marketing research​ process? A. Comparing research findings to other studies B. Implementing the research plan C. Developing the research plan D. Defining the research problem E. Interpreting and reporting the findings

A

Competitive marketing intelligence uses​ _________ data sources. A. ​competitor's internal B. publicly available C. internal D. private E. expensive

B

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. experiment B. focus group interview C. immersion group D. ethnographic study E. individual interview

B

The role of a​ company's marketing information system​ (MIS) is important because​ ______________. A. it ensures that the company will have good customer service B. it enables a company to use customer insights to improve relationships with customers C. it increases the likelihood that a customer will buy a product D. it allows a company to outperform its competitors in the marketplace E. it maintains the​ company's internal database of customers

B

​Lydia's Lights wants to extend its market into Mexico. Before jumping​ in, the company needs to conduct some​ in-depth research to gauge​ customer's needs,​ interests, and buying patterns. Which of the following is the BEST option for​ Lydia's Lights? A. Gather only secondary data to minimize expenses. B. Send researchers​ door-to-door to collect the data from target consumers. C. Deliver surveys to the target consumers through the mail. D. Send out a survey by mass​ e-mail to the target consumers. Your answer is not correct.E. Set up a call center to be the base for researchers to telephone the target consumers.

B

Which of the following statements about big data is​ correct? A. Analyzing big data will always lead to useful customer insights. B. Big data is very important because marketers today need more information to make good decisions. C. One result of big data is that marketing managers are often overloaded and overwhelmed with information. D. Big data actually refers to very small data sets. E. Analyzing big data is a very easy task.

C

​_______ 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. Touch points B. Marketing information C. Marketing analytics D. CRM E. Big data

C

A colleague needs to collect descriptive data about his​ customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research​ project? A. Observation B. An experiment C. An ethnographic study D. A survey E. Secondary data

D

A power tool company wants to give its customers access to​ internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this​ information? A. A data warehouse B. A company website C. A company intranet D. A company extranet E. A company data mine

D

A researcher must always evaluate secondary information​ carefully; however, the researcher does not need to ensure the evaluation is​ _________. A. relevant B. impartial C. accurate D. subjective E. current

D

Any contact between a customer and a company is called​ a(n) _________. A. satisfaction survey B. sales call C. purchase D. touch point E. service call

D

To develop needed​ information, marketing information systems utilize​ _________. A. internal​ databases, big​ data, and market research B. marketing​ intelligence, marketing​ research, and the marketing environment C. internal​ databases, marketing​ research, and marketing managers D. internal​ databases, marketing​ intelligence, and marketing research E. marketing​ managers, information​ users, and internal databases

D

What is​ MIS? A. A customer insights team B. Customer relationship management C. An internal database D. A marketing information system E. Competitive marketing intelligence

D

Which of the following BEST describes the research​ relationships? A. Observation is best suited for descriptive​ research, surveys for causal​ research, and experiments for exploratory research. B. Observation is best suited for exploratory​ research, surveys for causal​ research, and experiments for descriptive research. C. Observation is best suited for causal​ research, surveys for exploratory​ research, and experiments for descriptive research. D. Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research. E. Observation is best suited for descriptive​ research, surveys for exploratory​ research, and experiments for causal research.

D

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​ job? A. Use customer data in such a way to convince customers to buy products. B. Scour consumer financial information. C. Compile an exhaustive resource of customer data. D. Track the clicks of customers on websites. E. Inform customers of the​ company's privacy policy.

E

Many companies build extensive electronic collections of consumer and market information obtained from data sources within the​ company's network. This is known as​ ___________. A. marketing intelligence B. marketing research C. an intranet D. online marketing research E. an internal database

E

A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this​ company's research​ plan? A. Share the data with other companies in similar situations. B. Collect the data. C. Analyze potential data sources. D. Define the problem. E. Determine the best method to conduct research.

B

Which of the following statements about online research is​ correct? A. Experiments cannot be conducted online. B. Online surveys generally have higher response rates than those conducted by mail or phone. C. Focus groups are rarely conducted online. D. It is more expensive to conduct online research than to do a​ mail, phone, or personal interview. E. Online research is only feasible for large companies.

B

Which of the following would be good advice for someone that is conducting marketing research in a foreign​ country? A. Language translation will be easy. B. Reaching respondents in other parts of the world is more difficult than it is in the U.S. C. Globalization has slowed​ down, so international research is no longer necessary. D. You can easily find good secondary data in most foreign markets. E. Consumers in foreign markets generally enjoy participating in marketing research.

B

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research? A. To avoid complaints that the study is not reliable B. To have a​ "full picture" of the subject of its study C. To guarantee the product being researched will be successful D. To ensure the data is usable E. To keep costs down

B

Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient​ MIS? A. Determine how to use the information gathered by market research. B. Assess the information needs of the company. C. Analyze the information gathered in market research. D. Distribute necessary information to the marketing team. E. Conduct surveys or focus groups to gather information

B

Sky owns a small hot air balloon company in​ Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for​ store-sponsored hot air balloon trips. They believe​ Sky's expertise would make him the perfect guide. Sky 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​ Sky's situation? A. Customer insights can be gained only through costly market research. B. Customer insights can provide valuable information to a small businesses. C. Most small businesses have no way of easily accessing customer insights. D. Customer insights are not dependable. E. Customer insights are emotional and often irrelevant to a small business.

B

Which kind of company would most benefit from conducting marketing​ research? A. Neither large multinationals like Disney and IBM nor small locals truly need market research. B. Both large multinationals like Disney and IBM and small locals truly need market research. C. Only large multinationals like Disney and IBM need market research. D. Only​ medium-sized companies that are about half the size of Disney and IBM need market research. E. Only small locals like​ Beatrice's Bistro need market research.

B