Chapter 4

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

Which type of sample involves dividing the population into mutually exclusive groups​ (such as​ blocks), and then drawing a sample of the groups to​ interview?

Cluster​ (area) sample

Which of the following is NOT a primary goal of competitive marketing​ intelligence?

Creating an understanding of the​ business-to-business environment

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 first step of the marketing research​ process?

Defining the research problem

Which type of research seeks to define and characterize​ things, such as the market potential for a product or the demographics and attitudes of consumers who buy the​ product?

Descriptive research

​________ involves sending trained observers to watch and interact with consumers in their​ "natural environments."

Ethnographic research

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

​_________ 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 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.

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 statement is​ true?

The real value of marketing information lies in how it is used.

Which is an advantage associated with internal​ databases?

They can be accessed more quickly and cheaply than other information sources.

Which of the following BEST describes the purpose of customer​ insights?

To create more value for customers

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 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

Using online consumer tracking data and analytics to target advertisements and marketing offers to specific consumers is known as​ ________.

behavioral targeting

Primary data​ ________.

consist of information collected for the specific purpose at hand

The real value of marketing information rests in the​ _________.

customer insights it provides

A​ company's marketing information system​ (MIS) is valuable because it​ ________.

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

You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In​ exchange, you receive a payment. You are participating in​ a(n) ________.

focus group