Marketing Study guide chapter 4

1. Jimmy Smith has a limited budget to conduct market research. Which of the following research approaches would provide Jimmy with the most cost-effective way to reach a large number of respondents in a short period? a) telephone surveys b) personal interviews c) Internet-based surveys d) mail surveys e) focus group interviews

c) Internet-based surveys

1. Competitive marketing intelligence is primarily responsible for​ _____________. a) the systematic collection and analysis of publicly available information b) defining the problem c) implementing the research plan d) using primary data over secondary e) developing the research plan

a) the systematic collection and analysis of publicly available information

1. Which kind of company would most benefit from conducting marketing​ research? Neither large multinationals like Disney and IBM nor small locals truly need market research. a) Only​ medium-sized companies that are about half the size of Disney and IBM need market research. b) Both large multinationals like Disney and IBM and small locals truly need market research. c) Only small locals like​ Beatrice's Bistro need market research. d) Only large multinationals like Disney and IBM need market research.

b) Both large multinationals like Disney and IBM and small locals truly need market research.

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

b) One result of big data is that marketing managers are often overloaded and overwhelmed with information.

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

b) Online surveys generally have higher response rates than those conducted by mail or phone.

1. The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses. a) descriptive b) exploratory c) causal d) corrective e) experimental

b) exploratory

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) ethnographic study d) immersion group e) individual interview

b) focus group interview

1. The role of a​ company's marketing information system​ (MIS) is important because​ ______________. a) it maintains the​ company's internal database of customers 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 ensures that the company will have good customer service

b) it enables a company to use customer insights to improve relationships with customers

1. Which of the following BEST describes the research​ relationships? a) Observation is best suited for exploratory​ research, surveys for causal​ research, and experiments for descriptive research. b) Observation is best suited for descriptive​ research, surveys for causal​ research, and experiments for exploratory research. c) Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research. d) Observation is best suited for descriptive​ research, surveys for exploratory​ research, and experiments for causal research. e) Observation is best suited for causal​ research, surveys for exploratory​ research, and experiments for descriptive research.

c) Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research.

1. 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) an intranet b) marketing research c) an internal database d) marketing intelligence e) online marketing research

c) an internal database

1. A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________. a) descriptive research b) ethnographic research c) experimental research d) online research e) exploratory research

c) experimental research

1. Any contact between a customer and a company is called​ a(n) _________. a) satisfaction survey b) purchase c) touch point d) sales call e) service call

c) touch point

1. 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 company website b) A data warehouse c) A company intranet d) A company extranet e) A company data mine

d) A company extranet

1. ______ 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) CRM b) Big data c) Touch points d) Marketing analytics e) Marketing information

d) Marketing analytics

1. Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________. a) exploratory research b) survey research c) netnography research d) experimental research e) descriptive research

d) experimental research

1. Jennifer Davis, the owner of an alcohol distributing company, collects data from her monthly records of sales, costs, and cash flow. In this case, Jennifer is making use of ________ databases. a) external b) secondary c) historical d) internal e) dialog

d) internal

1. PepsiCo has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product (i.e., describe the target market), PepsiCo should most likely use ________. a) exploratory research b) archival research c) causal research d) experimental research e) descriptive research

e) descriptive research

1. To develop needed​ information, marketing information systems utilize​ _________. a) internal​ databases, marketing​ research, and marketing managers b) marketing​ intelligence, marketing​ research, and the marketing environment c) marketing​ managers, information​ users, and internal databases d) internal​ databases, big​ data, and market research e) internal​ databases, marketing​ intelligence, and marketing research

e) internal​ databases, marketing​ intelligence, and marketing research