Chapter 4 quiz
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.Service calls B.Touch points C.Satisfaction surveys D.Sales calls E.Purchases
touch points
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 are not dependable. C.Customer insights are emotional and often irrelevant to a small business. D.Customer insights can provide valuable information to a small businesses. E.Customer insights can be gained only through costly market research.
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.Descriptive research B.Primary research C.Causal research D.Secondary research E.Exploratory 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.Share the data with other companies in similar situations B.Define the problem. C.Determine the best method to conduct research D.Implement the plan E.Analyze potential data sources
Implement the plan
___________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.CRM C.Big data D.Marketing analytics E.Touch points
Marketing analytics
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.maintains the company's internal database of customers C.ensures that the company will have good customer service D.allows a company to outperform its competitors in the marketplace E.increases the likelihood that a customer will buy a product
enables a company to use customer insights to improve relationships with customers
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 data mine B.A company extranet C.A company website D.A company intranet E.A data warehouse
A company extranet
What constitutes a marketing information system (MIS)? A.An internal database that is used with big data 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.A system of competitive marketing intelligence
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.Conduct surveys or focus groups to gather information B.Analyze the information gathered in market research C.Distribute necessary information to the marketing team D.Assess the information needs of the company E.Determine how to use the information gathered by market research
Assess the information needs of the company
Which types of companies would most benefit from conducting marketing research? A.Only small local firms, like Beatrice's Bistro B.Only large multinational firms like Disney and IBM C.Only medium-sized companies that are about half the size of Disney and IBM D.Both large multinational firms like Disney and IBM and small local firms E.Neither large multinational firms like Disney and IBM nor small local firms
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.Implementing the research plan B.Developing the research plan C.Interpreting and reporting the findings D.Comparing research findings to other studies E.Defining the research problem
Comparing research findings to other studies
Which of the following is NOT a primary goal of competitive marketing intelligence? A.Assessing and tracking competitors' actions, B.Providing early warnings of opportunities C.Creating an understanding of the business-to-business environment D.Providing early warnings of threats E.Improving strategic decision making
Creating an understanding of the business-to-business environment
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.Scour consumer financial information B.Track the clicks of customers on websites C.Compile an exhaustive resource of customer data D.Inform customers of the company's privacy policy E.Use customer data in such a way to convince customers to buy products
Inform customers of the company's privacy policy
Marketers obtain needed marketing information from which of the following? A.Internal data, marketing research, and marketing managers B.Internal data, big data, and market research C.Marketing managers, information users, and internal databases D.Internal data, marketing intelligence, and marketing research E.Marketing intelligence, marketing research, and the marketing environment
Internal data, marketing intelligence, and marketing research
Which of the following statements about online research is correct? A.Online surveys generally have higher response rates than those conducted by mail or phone. B.It is more expensive to conduct online research than to do a mail, phone, or personal interview. C.Online research is only feasible for large companies. D.Focus groups are rarely conducted online. E.Experiments cannot be conducted online.
Online surveys generally have higher response rates than those conducted by mail or phone.
Which of the following statements about big data is correct? A.Analyzing big data always leads to useful customer insights. B.One result of big data is that marketing managers are often overloaded and overwhelmed with information. C.Big data is only used by big companies. D.Analyzing big data is a very easy task. E.Big data actually refers to very small data sets.
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
Which of the following would be good advice for someone conducting marketing research in a foreign country? A.Consumers in foreign markets generally enjoy participating in marketing research. B.You can easily find good secondary data in most foreign markets. C.Globalization has slowed down, so international research is no longer necessary. D.Language translation will be easy. 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.Focus group information B.Secondary information C.Primary information D.Big data analytical information E.Survey information
Secondary information
Which of the following BEST describes the purpose of customer insights? A.To develop new markets of customers for the company B.To advertise new products to customer bases C.To instruct other company departments in customer service D.To represent the company to its customers E.To create more value for customers
To create more value for customers
Which of the following is the primary reason firms use competitive marketing intelligence? A.To gain an understanding of a competitor's channels of distribution B.To make early decisions regarding pricing strategies of competitors C.To gain early insights into competitor moves and strategies, and to prepare quick responses D.To understand more about a competitor's new product development efforts E.To assess and respond to a competitor's social media strategies
To gain early insights into competitor moves and strategies, and to prepare quick responses
Which of the following BEST describes research relationships? A.Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research. B.Observation is best suited for causal research, surveys for exploratory research, and experiments for descriptive research. C.Observation is best suited for descriptive research, surveys for exploratory research, and experiments for causal research. D.Observation is best suited for exploratory research, surveys for causal research, and experiments for descriptive research. E.Observation is best suited for descriptive research, surveys for causal research, and experiments for exploratory research.
To have a "full picture" of the subject of its study
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 ensure the data is usable D.To guarantee the product being researched will be successful E.To keep costs down
To have a "full picture" of the subject of its study
The real value of marketing information rests in the _____________________. A.marketing intelligence it uncovers B.social media data it uses C.amount of big data it analyzes D.support of a company's marketing research E.customer insights it provides
customer insights it provides
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.individual interview B.ethnographic study C.focus group D.immersion group E.experiment
focus group