MKT 3501 Chapter 4 Quiz

Akira Takano, a marketing manager, is about to test the hypothesis that the sale of a particular product will increase exponentially if there is a $5 drop in the selling price of the product. Akira is involved in ________ research.

causal

Which of the following refers to a nonprobability sample in which the researcher selects the easiest population members from which to obtain information?

convenience sample

Observation is best suited for ________ research.

exploratory

Customer relationship management (CRM) helps ________.

firms manage customer touch points to maximize customer loyalty

A(n) ________ 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.

marketing information system

A successful CRM program is expected to help a company achieve all of the following EXCEPT ________.

understand the competition better

Joe Kerry, owner of a small bakery, wants to obtain marketing insights to improve his business. Joe has a limited budget and would like to gather free secondary data. What is the best option for Joe?

Internet search engines

Beth Williams works for a marketing research company in Chicago. Her current research involves finding the market potential for a client's new line of sports apparel. Given her objective, which of the following types of research is the most suitable for Beth?

descriptive research

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of ________.

ethnographic research

Firms use competitive marketing intelligence to ________.

gain early warnings of competitor moves and strategies

Primary data consist of ________.

information collected for the specific purpose at hand

Secondary data consist of ________.

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

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ________.

internal databases

A(n) ________ is a segment of the population selected for marketing research to represent the population as a whole.

sample

What is the purpose of marketing analytics?

to interpret the data obtained