Ch 4 Quiz
Competitive marketing intelligence is primarily responsible for _____________. A. the systematic collection and analysis of publicly available information B. using primary data over secondary C. implementing the research plan D. developing the research plan E. defining the problem
A
Which of the following BEST describes the purpose of the customer insights team? A. To create more value for customers B. To instruct other company departments in customer service C. To develop new markets of customers for the company D. To advertise new products to customer bases E. To represent the company to its customers
A
Which of the following is NOT a step in the marketing research process? A. Comparing research findings to other studies B. Implementing the research plan C. Developing the research plan D. Defining the research problem E. Interpreting and reporting the findings
A
Competitive marketing intelligence uses _________ data sources. A. competitor's internal B. publicly available C. internal D. private E. expensive
B
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. experiment B. focus group interview C. immersion group D. ethnographic study E. individual interview
B
The role of a company's marketing information system (MIS) is important because ______________. A. it ensures that the company will have good customer service B. it enables a company to use customer insights to improve relationships with customers C. it increases the likelihood that a customer will buy a product D. it allows a company to outperform its competitors in the marketplace E. it maintains the company's internal database of customers
B
Lydia's Lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research to gauge customer's needs, interests, and buying patterns. Which of the following is the BEST option for Lydia's Lights? A. Gather only secondary data to minimize expenses. B. Send researchers door-to-door to collect the data from target consumers. C. Deliver surveys to the target consumers through the mail. D. Send out a survey by mass e-mail to the target consumers. Your answer is not correct.E. Set up a call center to be the base for researchers to telephone the target consumers.
B
Which of the following statements about big data is correct? A. Analyzing big data will always lead to useful customer insights. B. Big data is very important because marketers today need more information to make good decisions. C. One result of big data is that marketing managers are often overloaded and overwhelmed with information. D. Big data actually refers to very small data sets. E. Analyzing big data is a very easy task.
C
_______ 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. Touch points B. Marketing information C. Marketing analytics D. CRM E. Big data
C
A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project? A. Observation B. An experiment C. An ethnographic study D. A survey E. Secondary data
D
A power tool company wants to give its customers access to internal, non-public information about how best to use its product in creative ways. What should the company create to provide customers with this information? A. A data warehouse B. A company website C. A company intranet D. A company extranet E. A company data mine
D
A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is _________. A. relevant B. impartial C. accurate D. subjective E. current
D
Any contact between a customer and a company is called a(n) _________. A. satisfaction survey B. sales call C. purchase D. touch point E. service call
D
To develop needed information, marketing information systems utilize _________. A. internal databases, big data, and market research B. marketing intelligence, marketing research, and the marketing environment C. internal databases, marketing research, and marketing managers D. internal databases, marketing intelligence, and marketing research E. marketing managers, information users, and internal databases
D
What is MIS? A. A customer insights team B. Customer relationship management C. An internal database D. A marketing information system E. Competitive marketing intelligence
D
Which of the following BEST describes the research relationships? A. Observation is best suited for descriptive research, surveys for causal research, and experiments for exploratory research. B. Observation is best suited for exploratory research, surveys for causal research, and experiments for descriptive research. C. Observation is best suited for causal research, surveys for exploratory research, and experiments for descriptive research. D. Observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research. E. Observation is best suited for descriptive research, surveys for exploratory research, and experiments for causal research.
D
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 job? A. Use customer data in such a way to convince customers to buy products. B. Scour consumer financial information. C. Compile an exhaustive resource of customer data. D. Track the clicks of customers on websites. E. Inform customers of the company's privacy policy.
E
Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________. A. marketing intelligence B. marketing research C. an intranet D. online marketing research E. an internal database
E
A company is conducting market research to determine the best areas to sell its product. It has already determined its research questions. What is the next step of this company's research plan? A. Share the data with other companies in similar situations. B. Collect the data. C. Analyze potential data sources. D. Define the problem. E. Determine the best method to conduct research.
B
Which of the following statements about online research is correct? A. Experiments cannot be conducted online. B. Online surveys generally have higher response rates than those conducted by mail or phone. C. Focus groups are rarely conducted online. D. It is more expensive to conduct online research than to do a mail, phone, or personal interview. E. Online research is only feasible for large companies.
B
Which of the following would be good advice for someone that is conducting marketing research in a foreign country? A. Language translation will be easy. B. Reaching respondents in other parts of the world is more difficult than it is in the U.S. C. Globalization has slowed down, so international research is no longer necessary. D. You can easily find good secondary data in most foreign markets. E. Consumers in foreign markets generally enjoy participating in marketing research.
B
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 guarantee the product being researched will be successful D. To ensure the data is usable E. To keep costs down
B
Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS? A. Determine how to use the information gathered by market research. B. Assess the information needs of the company. C. Analyze the information gathered in market research. D. Distribute necessary information to the marketing team. E. Conduct surveys or focus groups to gather information
B
Sky owns a small hot air balloon company in Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for store-sponsored hot air balloon trips. They believe Sky's expertise would make him the perfect guide. Sky 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 Sky's situation? A. Customer insights can be gained only through costly market research. B. Customer insights can provide valuable information to a small businesses. C. Most small businesses have no way of easily accessing customer insights. D. Customer insights are not dependable. E. Customer insights are emotional and often irrelevant to a small business.
B
Which kind of company would most benefit from conducting marketing research? A. Neither large multinationals like Disney and IBM nor small locals truly need market research. B. Both large multinationals like Disney and IBM and small locals truly need market research. C. Only large multinationals like Disney and IBM need market research. D. Only medium-sized companies that are about half the size of Disney and IBM need market research. E. Only small locals like Beatrice's Bistro need market research.
B