MKT327-Module 7

From where are internal data obtained?

sales force call reports, internal product marketing manager emails

which of the following is an example of knowledge?

-Due to the level of competition the firm should withdraw from the market

Which of the following could be considered unethical marketing research practices?

-conducting research designed to only support previous beliefs -attempting to sell respondents products when they believe they are being recruited for a marketing research project -putting conclusions in a report that cannot be substantiated by the the research info -not debriefing subjects who have been manipulated in a marketing research project -all of the answers are correct (CORRECT ANSWER)

Which of the following is not part of the market research process?

-defining the problem -creating a research design -conducting explanatory and quantitative research -interpreting and reporting results -All of the answers are parts of the marketing research process (CORRECT ANSWER)

In which of the following age does the most competitive firms succeed by controlling factors of production: capital, land, and/or labor?

-historical economic environment

Which of the following parts of a marketing information system primarily collects external data?

-marketing intelligence -marketing research

Which of the following basic strategic planning questions refers to whether the benefits and values of the organization's product or services match the needs and wants and resources of customers?

Is marketing plan on course OR Is marketing plan on budget

Which of the following statements defines a marketing information system?

The people, equipment, and procedures to gather, sort, analyze, evaluate and distribute, needed, timely, and accurate information

Which of the following statements defines knowledge generation?

The process to collect and transform data into knowledge

Which of the following statements defines a transaction-based information system?

a computerized link between a firm and customers, distributors, and supplies

Information is composed of data that have been:

analyzed and put in useful form

In the knowledge generation process query directly results in which of the following?

data

What is the difference between data and information?

data is uninterrupted and information is in a form useful for decision making

which of the following is an example of secondary data?

data that were already available from some source prior to the beginning of a research project

Which of the following parts of marketing information system primarily processes and analyzes data?

decision support system

Which of the following types of analysis procedures for big data provides performance indicators linked to marketing strategy?

descriptive analysis

According to the text, what three types of analytics transform big data into information for business use?

descriptive analytics, predictive analytics and prescriptive analytics

What is the third step of the marketing research process?

exploratory research

(t/f) Knowledge is an umbrella term for the vast amount of data continually generalized by some population that when analyzed to human behavior.

false

All marketing decisions begin with and depend on which of the following?

information

In the knowledge generation process data directly results in which of the following?

information

Marketing mix decisions are part of:

information ad decision making

The understanding, or experience enabling tasks to be done with maximum efficiency and effectiveness defines which of the following terms?

knowledge

Which of the following is part of the marketing information system?

knowledge management

which of the following parts of a marketing information system primarily deals with internal data?

knowledge management

Which of the following parts of a marketing information system collects external information on a regular basis irrespective on any specific decision problem?

marketing intelligence

Which of the following parts of a marketing information system collects external information for a specific decision problem?

marketing research

Which of the following comes first in the knowledge generation process?

none of the above

Which of the following is not part of a marketing information system?

notes for analyzing data

Which of the following marketing mix components does not require marketing information?

performance decisions

Which of the following types of analysis procedures for big data provides the expected results from given conditions and actions?

predictive analytics

Which of the following types of analysis procedures for big data indicates which course of action should be taken, and provides the expected outcomes from the recommended course of action?

prescriptive analytics

What is the first step of the marketing research process?

problem definition

In the knowledge generation process knowledge directly results in which of the following?

query

What is the second step of the marketing research process?

research design

From where are secondary data obtained?

sources that have already gathered the data

which of the following is an example of information

the market is very competitive

which of the following is an example of data

there are only 2 competitors in the market