Chapter 4 - Marketing Information and Insights

Small businesses and​ not-for-profit organizations can obtain good marketing insights through​ __________.

A. causal research B. MIS C. big data D. exploratory research *E. observation research

​__________ is the systematic​ monitoring, collection, and analysis of publicly available information about​ consumers, competitors, and developments in the marketplace.

*A. Competitive marketing intelligence B. USAA database C. Internal database D. Big data E. Competitor database

What is the first step in marketing research​ process?

*A. Define the problem. B. Interpret the findings. C. Implement the research plan. D. Develop a research plan. E. Report the findings.

Which of the following statements discussing big data is not​ true?

*A. Marketers can access and easily sift through the data once it is available. B. Companies can gain timely customer information. C. Companies that effectively tap the available glut of data can gain​ rich, customer insights. D. Data can be collected from​ blogs, tweets, and social media. E. Big data provides a lot more information than the managers can digest.

Nielsen gathers data on millions of people to help marketers gain __________ to use to create strategic marketing decisions.

*a. customer insights b. marketing information systems c. competitive marketing intelligences d. internal databases e. big data

Ethnographic Research

A form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environment"

Companies can allow key customers and​ value-network members to access​ account, product, and other data through​ __________.

A. MIS B. CRM C. intranets *D. extranets E. big data

MIS begins and ends with information users. Which of the following statements is not an advantage of​ MIS?

A. MIS helps users to analyze and use the information to develop customer insights. B. MIS helps users in making management decisions. C. MIS interacts with the marketing environment to develop needed information. D. MIS interacts with the information users to assess information needs. *E. MIS may provide information to external​ partners, such as​ suppliers, resellers, or marketing services agencies.

The objective of​ __________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

A. causal B. primary C. descriptive *D. exploratory E. secondary

Many companies manage detailed information about individual customers by using all of the following methods EXCEPT​ __________.

A. customer touch points *B. collecting and storing huge amounts of data C. big data analytics D. marketing analytics E. customer relationship management

MIS interacts with information users in several ways which include all of the following EXCEPT​ __________.

A. providing marketing intelligence activities B. helping to conduct marketing research C. helping to develop customer insights D. assessing information needs *E. providing concise information

The marketing research industry is considering several options for responding to intrusion and privacy​ issues, which includes all of the following EXCEPT​ __________.

A. providing value in exchange B. "your opinion​ counts" initiatives C. appointing a privacy officer D. "respondent bill of​ rights" initiatives *E. sharing information widely

Online Marketing Research

Collecting primary data through internet and mobile surveys, online focus groups, consumer tracking, experiments, and online panels and brand communities

Online Focus Group

Gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior

Survey Research

Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior

Observational Research

Gathering primary data by observing relevant people, actions, and situations

Experimental Research

Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses

Primary Data

Information collected for the specific purpose at hand

Secondary Data

Information that already exist somewhere, having been collected for another purpose

Customer Relationship Management

Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty

Descriptive Research

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

Exploratory Research

Marketing research to gather preliminary information that will help define the problem and suggest hypotheses

Causal Research

Marketing research to test hypotheses about cause-and-effect relationships

Focus Group Interviewing

Personal interviewing that involves inviting small groups of people to gather for a few hours with a trained interviewer to talk about a product, service or organization. The interviewer "focuses" the group discussion on important issues

Artificial Intelligence

Technology by which machines think and learn in a way that looks and feels human but with a lot more analytical capacity

Marketing Analytics

The analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance

Behavioral Targeting

Using online consumer tracking data and analytics to target advertisements and marketing offers to specific consumers

Nielsen gathers consumer insights through a variety of ways, including consumer tracking and panels. Which type of research is Nielsen engaged in during these examples?

a. Mail questionnaires b Causal research c Telephone surveys d Focus groups *e Online marketing research

The specific data that Nielsen provides to its clients for a specific purpose that has not been completed before, is most likely which type of data?

a. Primary b. Secondary c. Descriptive d. Causal e. Exploratory

A marketer who wishes to gain insight into the demographics and attitudes of consumers who buy their product would likely ask Nielsen to perform which type of research?

a. Primary data b. Exploratory research c. Secondary data *d. Descriptive research e. Causal research

Nielsen is engaged in the collection and analysis of information about consumers, competitors, and developments in the marketplace. This systematic monitoring is known as __________.

a. big data *b. competitive marketing intelligence c. customer insight d. marketing information systems e. internal databases

Internal Databases

collections of consumer and market information obtained from data sources within the company's network

Marketing Information System (MIS)

consists of 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

Customer Insights

fresh marketing information-based understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships

The Law of the Division

over time, a product category will divide and become 2 or more categories

Marketing Research

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

Competitive Marketing Intelligence

the systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and developments in the marketplace