Principles of Marketing Chapter 4 Lab questions

A company is conducting market research to determine the best areas to sell its product. It has already determined the research plan. What is the next step of this​ company's research​ plan?

implement the plan

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

inform customers of the company's privacy policy

the real value of marketing information rests in the _______

customer insights it provides

in a. _________- sample, the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview

cluster

marketing information is of no value until it is used for what purpose

to make better marketing decisions

___________ consist of information collected for the specific purpose at hand

primary data

which types of companies would most benefit from conducting marketing research

both large multinational firms like Disney and IBM and small local firms

which of the following best describes the purpose of customer insights

to create more value for customers

________ is gathering primary data by observing relevant people, actions, and situations

observational research

a power tool company wants to give its customer 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 company extranet

an __________ refers to electronic collections of customer and marketing information obtained from data sources within the company network

internal database

__________ are segments of the population selected for marketing research to represent the population as a whole

samples

which of the following is the primary reason firms use competitive marketing intelligence

to gain early insights into competitor moves and strategies, and to prepare quick responses

which of the following is not a primary goal of competitive marketing intelligence

creating an understanding of the business to business environment

Marketers obtain needed marketing information from which of the​ following?

internal data, marketing intelligence, and marketing research

___________ is marketing research to gather preliminary information that will help define problems and suggest hypotheses

exploratory research

Today's marketers see information not only as a tool for input for better​ decision-making, but also as​ ___________________________.

an important strategic asset and marketing tool

which of the following is not a step in the marketing research process?

comparing research findings to other studies

___________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment

competitive marketing intelligence

a company's marketing system (MIS) is valuable because it ________

enables a company to use customer insights to improve relationships with customers

in simple random sample __________

every member of the population has a known and equal chance of selection

which of the following describes the type of research used to help define the problem and suggest hypothesis

exploratory research

which of the following best describes research relationships

observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research

customer insights are _____________

fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships

in a _____ sample, the population is divided into mutually exclusive groups and random samples are drawn from each group

stratified random

______________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior

survey research

which of the following is not true regarding international marketing research

the cost of international research is lower

____________ is a form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments"

ethnographic research

____________ is marketing research to test hypothesis about cause-and-effect relationships

casual research

why is it important for a company to collet both primary and secondary data when conducting marketing research

to have a "full picture" of the subject of its study

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

touch points

what constitutes a marketing information system (MIS)

a system to generate and validate actionable customer and market insights

what are the three general sources from which marketers can obtain information

internal data, marketing intelligence, and marketing research

__________ 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

marketing analytic

a _________ consists of the people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers use the information to generate and validate actionable customer and market insights

marketing information system

an ________ is people and processes dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights

marketing information system

Two major public policy and ethical issues in marketing research are​ ________.

Intrusions on consumer privacy and misuse of research findings

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

asses the information needs of the company

the __________ outlines researcher responsibilities to respondents, including confidentiality, privacy, and avoidance of harassment

code of standards and ethics for survey research

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?

customer insights can provide valuable information to a small businesses

what is the correct sequence of the four steps of the marketing research process

define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings

______________ is marketing research to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers

descriptive research

secondary data are ___________

information that already exists somewhere, having been collected for another purpose

__________- is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

marketing research

Software and analytical techniques that​ integrate, analyze, and apply the mountains of individual customer data to gain a​ 360-degree view of customers enable companies to​ ________________________.

practice customer relationship management

Companies need meaningful customer insights so they can

produce superior value for their customers

_________ refers to a prescribed number of people in each of several categories who are identified and interviewed by the researcher

quota sample

which of the following would be good advice for someone conducting marketing research in a foreign country

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

secondary information

_____________ is gathering primary data by selecting marched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses

experimental research

there are several types of objectives market researchers might use in a use in a marketing research project. which of the following are the primary types of objectives

exploratory research, descriptive research, and casual research

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) ________.

focus group

which of the following statements about big data is correct

one result of big data is that marketing managers are often overloaded and overwhelmed with information

which of the following statements about online research is correct

online surveys generally have higher response rates than those conducted by mail or phone