Chapter 4 quiz

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? A.Service calls B.Touch points C.Satisfaction surveys D.Sales calls E.Purchases

touch points

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? A.Most small businesses have no way of easily accessing customer insights. B.Customer insights are not dependable. C.Customer insights are emotional and often irrelevant to a small business. D.Customer insights can provide valuable information to a small businesses. E.Customer insights can be gained only through costly market research.

Customer insights can provide valuable information to a small businesses.

Which of the following describes the type of research used to help define the research problem and suggest​ hypotheses? A.Descriptive research B.Primary research C.Causal research D.Secondary research E.Exploratory research

Exploratory research

A company is conducting market research to determine the best areas in which to sell its product. It has developed the research plan. What is the next step of this​ company's research​ plan? A.Share the data with other companies in similar situations B.Define the problem. C.Determine the best method to conduct research D.Implement the plan E.Analyze potential data sources

Implement the plan

___________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. A.Marketing information B.CRM C.Big data D.Marketing analytics E.Touch points

Marketing analytics

A​ company's marketing information system​ (MIS) is valuable because it​ ___________________. A.enables a company to use customer insights to improve relationships with customers B.maintains the​ company's internal database of customers C.ensures that the company will have good customer service D.allows a company to outperform its competitors in the marketplace E.increases the likelihood that a customer will buy a product

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

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.A company data mine B.A company extranet C.A company website D.A company intranet E.A data warehouse

A company extranet

What constitutes a marketing information system​ (MIS)? A.An internal database that is used with big data B.A customer insights and analysis team C.A system to generate and validate actionable customer and market insights D.A customer relationship management system E.A system of competitive marketing intelligence

A system to generate and validate actionable customer and market insights

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? A.Conduct surveys or focus groups to gather information B.Analyze the information gathered in market research C.Distribute necessary information to the marketing team D.Assess the information needs of the company E.Determine how to use the information gathered by market research

Assess the information needs of the company

Which types of companies would most benefit from conducting marketing​ research? A.Only small local​ firms, like​ Beatrice's Bistro B.Only large multinational firms like Disney and IBM C.Only​ medium-sized companies that are about half the size of Disney and IBM D.Both large multinational firms like Disney and IBM and small local firms E.Neither large multinational firms like Disney and IBM nor small local firms

Both large multinational firms like Disney and IBM and small local firms

Which of the following is NOT a step in the marketing research​ process? A.Implementing the research plan B.Developing the research plan C.Interpreting and reporting the findings D.Comparing research findings to other studies E.Defining the research problem

Comparing research findings to other studies

Which of the following is NOT a primary goal of competitive marketing​ intelligence? A.Assessing and tracking​ competitors' actions, B.Providing early warnings of opportunities C.Creating an understanding of the​ business-to-business environment D.Providing early warnings of threats E.Improving strategic decision making

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

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? A.Scour consumer financial information B.Track the clicks of customers on websites C.Compile an exhaustive resource of customer data D.Inform customers of the​ company's privacy policy E.Use customer data in such a way to convince customers to buy products

Inform customers of the​ company's privacy policy

Marketers obtain needed marketing information from which of the​ following? A.Internal​ data, marketing​ research, and marketing managers B.Internal​ data, big​ data, and market research C.Marketing​ managers, information​ users, and internal databases D.Internal​ data, marketing​ intelligence, and marketing research E.Marketing​ intelligence, marketing​ research, and the marketing environment

Internal​ data, marketing​ intelligence, and marketing research

Which of the following statements about online research is​ correct? A.Online surveys generally have higher response rates than those conducted by mail or phone. B.It is more expensive to conduct online research than to do a​ mail, phone, or personal interview. C.Online research is only feasible for large companies. D.Focus groups are rarely conducted online. E.Experiments cannot be conducted online.

Online surveys generally have higher response rates than those conducted by mail or phone.

Which of the following statements about big data is​ correct? A.Analyzing big data always leads to useful customer insights. B.One result of big data is that marketing managers are often overloaded and overwhelmed with information. C.Big data is only used by big companies. D.Analyzing big data is a very easy task. E.Big data actually refers to very small data sets.

One result of big data is that marketing managers are often overloaded and overwhelmed with information.

Which of the following would be good advice for someone conducting marketing research in a foreign​ country? A.Consumers in foreign markets generally enjoy participating in marketing research. B.You can easily find good secondary data in most foreign markets. C.Globalization has slowed​ down, so international research is no longer necessary. D.Language translation will be easy. E.Reaching respondents in other parts of the world is more difficult than it is in the United States.

Reaching respondents in other parts of the world is more difficult than it is in the United States.

Which of the following information must a researcher evaluate to make certain it is​ relevant, accurate, and​ impartial? A.Focus group information B.Secondary information C.Primary information D.Big data analytical information E.Survey information

Secondary information

Which of the following BEST describes the purpose of customer​ insights? A.To develop new markets of customers for the company B.To advertise new products to customer bases C.To instruct other company departments in customer service D.To represent the company to its customers E.To create more value for customers

To create more value for customers

Which of the following is the primary reason firms use competitive marketing​ intelligence? A.To gain an understanding of a​ competitor's channels of distribution B.To make early decisions regarding pricing strategies of competitors C.To gain early insights into competitor moves and​ strategies, and to prepare quick responses D.To understand more about a​ competitor's new product development efforts E.To assess and respond to a​ competitor's social media strategies

To gain early insights into competitor moves and​ strategies, and to prepare quick responses

Which of the following BEST describes research​ relationships? A.Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research. B.Observation is best suited for causal​ research, surveys for exploratory​ research, and experiments for descriptive research. C.Observation is best suited for descriptive​ research, surveys for exploratory​ research, and experiments for causal research. D.Observation is best suited for exploratory​ research, surveys for causal​ research, and experiments for descriptive research. E.Observation is best suited for descriptive​ research, surveys for causal​ research, and experiments for exploratory research.

To have a​ "full picture" of the subject of its study

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research? A.To avoid complaints that the study is not reliable B.To have a​ "full picture" of the subject of its study C.To ensure the data is usable D.To guarantee the product being researched will be successful E.To keep costs down

To have a​ "full picture" of the subject of its study

The real value of marketing information rests in the​ _____________________. A.marketing intelligence it uncovers B.social media data it uses C.amount of big data it analyzes D.support of a​ company's marketing research E.customer insights it provides

customer insights it provides

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) ________. A.individual interview B.ethnographic study C.focus group D.immersion group E.experiment

focus group