Chapter 4

What are the 3 sources marketing information can be obtained from?

-Internal databases -Competitive marketing intelligence -Marketing research

Observational research

gathering primary data by observing relevant people, actions, and situations *best* suited for exploratory research

Secondary data

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

Code of Standards and Ethics for Survey Research

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

Customer Relationship Management (CRM)

used to manage detailed information about individual customers and carefully manage customer touch points to maximize customer loyalty

Online listening

Provides valuable insights into what consumers are saying or feeling about a brand

stratified random sample

population is divided into mutually exclusive groups and random samples are drawn from each group.

sample

segment of the population selected to represent the population as a whole

Experimental research

selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses *best* suited for gathering causal research

Ethnographic research

sending trained observers to watch and interact with consumers in their natural environment

cluster sample

the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview

convenience sample

the researcher selects the easiest population members from which to obtain information. previous

Primary data

information collected for the specific purpose at hand

What are the 2 main instruments for collecting primary data?

1. questionnaires (open and closed ended Q) 2. mechanical instruments (monitor consumer behavior)

Companies need meaningful customer insights so they can​ __________________. A. produce superior value for their customers B. build larger market share C. build databases that prove useful to marketers D. gain a competitive advantage E. realize better bottom lines

A

Two major public policy and ethical issues in marketing research are​ ________. A. intrusions on consumer privacy and misuse of research findings B. intrusions on consumer privacy and inaccurate data analysis C. misuse of research findings and improper sampling procedures D. paying research respondents and intrusions on consumer privacy E. the use of research to create deceptive advertising

A

Survey research

Asking people questions about their knowledge, attitudes, preferences, and buying behavior *best* suited for gathering descriptive information

There are several types of objectives market researchers might use in a marketing research project. Which of the following are the primary types of​ objectives? A. Descriptive​ research, survey​ research, and causal research B. Exploratory​ research, descriptive​ research, and causal research C. Exploratory​ research, descriptive​ research, and survey research D. Exploratory​ research, secondary​ research, and primary research E. Demographic​ research, exploratory​ research, and attitudinal research

B

What are the three general sources from which marketers can obtain​ information? A. Sales​ records, the​ internet, and internal databases B. Internal​ data, marketing​ intelligence, and marketing research C. Internal​ data, big​ data, and global data D. Marketing​ research, surveys, and scanners E. ​Competitors, the​ internet, and the media

B

Which of the following is NOT true regarding international marketing​ research? A. Obtaining primary data may be difficult. B. The cost of international research is lower. C. Cultural differences from country to country cause additional problems. D. Translating questionnaires from one language into another is not an easy task. E. Good secondary data is scarce.

B

​Today's marketers see information not only as a tool for input for better​ decision-making, but also as​ __________. A. a way to provide useful customer insights B. an important strategic asset and marketing tool C. an excellent resource to gather information on competitors D. a​ revenue-generation tool E. a way to gather big data and perform analytics

B

Marketing information is of no value until it is used for what​ purpose? A. To better practice customer relationship management B. To build a better bottom line C. To make better marketing decisions D. To perform marketing research E. To obtain marketing metrics

C

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​ _______. A. develop large customer datasets B. find new customers C. practice customer relationship management D. perform market research E. get to know their customers personally

C

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. A. marketing consulting team B. marketing technology system C. marketing research department D. marketing analytic system E. marketing information system

E

The most common mistake firms make is to view​ CRM, marketing​ analytics, and AI as​ _______. A. a waste of resources B. beyond their technical expertise C. outdated technologies D. too costly E. technology processes only

E

What are the 3 primary objectives?

Exploratory, Descriptive, Causal research

Causal Research

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

Marketing analytics

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

Internal databases

electronic collections of consumer and marketing information obtained from data sources within the company network

Customer insights

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

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 consumers

Exploratory Research

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

Social targeting

mines individual online social connections and conversations from social networking sites

Behavioral targeting

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

Competitive marketing intelligence

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