Chapter 4 Quiz
Which of the following BEST describes the purpose of customer insights?
to create more value for customers
The real value of marketing information rests in the _____________________.
customer insight it provides
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 company extranet
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?
Assess the information needs of the company
Which types of companies would most benefit from conducting marketing research?
Both large multinational firms like Disney and IBM and small local firms
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
Marketers obtain needed marketing information from which of the following?
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 analytics
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.
Why is it important for a company to collect both primary and secondary data when conducting marketing research?
To have a "full picture" of the subject of its study
A company's marketing information system (MIS) is valuable because it ___________________.
enables a company to use customer insights to improve relationships with customers
Which of the following describes the type of research used to help define the research problem and suggest hypotheses?
exploratory 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 information must a researcher evaluate to make certain it is relevant, accurate, and impartial?
secondary information
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
