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