Chapter 4 Marketing
Which of the following statements about competitive marketing intelligence is correct?
The goal of competitive marketing intelligence is to improve strategic decision making
What is the overall purpose of customer insight teams?
To develop customer insights from which the company can create more value for customers
online marketing research
collecting primary data through internet and mobile surveys, online focus groups, consumer tracking, experiments, and online panels and brand communities
internal databases
collections of consumer and market information obtained from data sources within the company network
__________ is the systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and developments in the marketplace.
competitive marketing intelligence
What is the first step in marketing research process?
define the problem
The objective of __________ research is to gather preliminary information that will help define the problem and suggest hypotheses.
exploratory
Companies can allow key customers and value-network members to access account, product, and other data through __________.
extranets
Companies set up ________, which allow key customers and value-network members to access product, account, and other data anytime they need to.
extranets
You and seven other people are talking with a trained moderator about your feelings and thoughts regarding a potential new product. For doing this, you receive a small payment. You are participating in a(n) ________.
focus group interview
customer insights
fresh marketing information-based understandings or customers and the marketplace that becomes the basis for creating customer value, engagement, and relationships
online focus groups
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
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
casual research
marketing research to test hypotheses about cause-and-effect relationships
Small businesses and not-for-profit organizations can obtain good marketing insights through __________.
observation research
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
big data
the huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies
marketing research process
1. defining the problem and research objectives 2. developing the research plan for collecting information 3. implementing the research plan-collecting and analyzing the data 4. interpreting and reporting the findings
Which one of the following statements about marketing research in small businesses and non-profit organizations is correct?
Although the research methods used by small businesses and nonprofits are less complex and costly, they still must be conducted carefully
Companies use ________ to manage detailed information about individual customers.
CRM
In response to concerns about intrusions of privacy, most large companies now appoint a ________ to safeguard the information of consumers who do business with the company.
Chief Privacy Officer (CPO)
MIS begins and ends with information users. Which of the following statements is not an advantage of MIS?
MIS may provide information to external partners, such as suppliers, resellers, or marketing services agencies.
Which of the following statements discussing big data is not true?
Marketers can access and easily sift through the data once it is available.
Which of the following statements about big data is correct? -Big data is important because marketers today need more information to make good decisions. -One result of big data is that marketing managers are often overloaded and overwhelmed with information. -Analyzing big data always leads to useful customer insights. -Analyzing big data is an easy task. -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 statements about online research is correct?
Online surveys generally have higher response rates than those conducted by mail or phone.
Which of the following would be good advice for someone that is conducting marketing research in a foreign country?
Reaching respondents in other parts of the world is more difficult than it is in the United States.
ethnographic research
a form of observational research that involved sending trained observers to watch and interact with consumers in their "natural environments"
sample
a segment of the population selected for marketing research to represent the population as a whole
A colleague needs to collect descriptive data about her customer's attitudes. She has not done this type of research before. What research approach would you recommend to best suit this research project?
a survey
The main purpose of CRM is to __________.
build stronger customer relationships
Many companies manage detailed information about individual customers by using all of the following methods except __________.
collecting and storing huge amounts of data
Much of Pinterest's success is due to how it used marketing information to ________.
identify unique customer insight
primary data
information collected for the specific purpose at hand
secondary data
information that already exists somewhere, having been collected for another purpose
To develop needed information, marketing information systems utilize ________.
internal databases, marketing intelligence, and marketing research
According to the text, two major public policy and ethical issues in marketing research are ________.
intrusions on consumer privacy and the misuse of research findings
customer relationship management (CRM)
managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty
marketing information systems (MIS)
people and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights
focus group interviewing
personal interviewing that involved 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
To deliver real value to marketers, marketing information must ________.
provide useful customer insights
MIS interacts with information users in several ways which include all of the following except __________. -helping to develop customer insights -assessing information needs -providing concise information -helping to conduct marketing research -providing marketing intelligence activities
providing concise information
Competitive marketing intelligence uses ________ data sources.
publicly available
The marketing research industry is considering several options for responding to intrusion and privacy issues, which includes all of the following except __________.
sharing information widely
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 marketing environments
One advantage to using internal databases for information is that ________.
they can be accessed quickly and cheaply
Any contact between a customer and a company is called a ________.
touch point
behavioral targeting
using online consumer tracking data to target advertisements and marketing offers to specific consumers