Chapter 4- Marketing

Brad works with a reputed retailer and leads a team that collects market information from a wide variety of sources ranging from marketing research studies to monitoring online conversations where consumers discuss Brad's firm or its products. Brad's team uses this information to arrive at a better understanding of consumer behavior and their buying motives. This, in turn, allows Brad's firm to successfully generate more value for consumers. Brad leads the ________ team.

customer insights

a marketing information system is used to

assess information needs

customer information is often buried deep in seperate data bases and records of different company departments. To overcome such problems, many companies are now turning to ___________ to manage detailed information about individual customers

customer relationship management

which of the following types of research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink

descriptive research

a marketing informaiton system user should most likely be able to

develop customer insights

which of the following is true about customer relationship management

CRM aims to maximize customer loyalty

which of the following refers to a marketing intelligence technique

benchmarking competitor's products

Akira Takano, a marketing manager, is about to test the hypothesis that the sale of a particular product will increase exponentially if there is a $5 drop in the selling price of the product. Akira is involved in ________ research.

casual

experimental research is best suited for gathering _____ information

casual

which of the following refers to a probability sample in which the population is divided into mutually exclusive groups, and the researcher draws a sample of the groups to interview

cluster sample

______ is the systematic collection and analysis of publicly avaliable information about consumers, competitors, and developments in the marketing enviroment

competitve marketing intelligence

which of the following statements is true regarding competitve marketing intelligence?

competitve marketing intelligence relies upon publicly avaliable information

Ralph Goldsmith works for Zenith Inc., a leading cosmetic company based in Illinois. At Zenith, Ralph's primary responsibility revolves around digging deeply into customer data to gain valuable insights about customer needs, motives, and attitudes. This data is, in turn, used by Zenith to personalize its customers' shopping experiences. Ralph's position at Zenith requires him to focus primarily on ________.

customer relationship managment

in CRM, ________ techniques are used to sort through data and locate useful findings about customers

data mining

Beth Williams works for a marketing research company in Chicago. Her current research involves finding the market potential for a client's new line of sports apparel. Given her objective, which of the following types of research is the most suitable for Beth?

descriptive research

______, a form of observational research, involves sending observers to watch and interact with consumers in their natural enviroments

ehtnographic

While looking for ideas on how to craft a user-friendly dishwasher, the designers of a dishwasher-manufacturing company spent 10 days observing people as they used their dishwashers in their homes. In this instance, the designers were conducting ________.

ethnographic research

a company sent a trained observer to watch and interact with consumers in their natural enviroments in order to gain deeper insights on consumer needs. this is an example of _______

ethnographic research

in a simple random sample, ________

every member of the population has a known and equal chance of selection

Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo and Loopy, on different consumer groups. For the purpose of her study, she divided 20 volunteers into two groups and asked the members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She decided to compare the responses of the volunteers after a week to gain deeper insights into consumer attitude. In this instance, Juanita is using ________.

experimental research

________ refers to gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.

experimental research

in ________ research the objective is to gather preliminary information that will help define the problem and suggest a hypothesis

exploratory research

observation is best suited for

exploratory research

customer relationship management helps

firms manage customer touch points to maximize customer loyalty

firms use competitve marketing intelligence to

gain early warnings of competitor moves and strategies

After a research instrument is selected, the next step in the marketing research process is ________. A) selecting a sampling method B) interpreting the findings C) implementing the research plan D) collecting secondary data E) selecting a research approach

implement the research plan

which form of marketing research involves talking with people in their homes or offices, on the street or in shopping malls?

indivisual interviewing

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ________.

internal databases

which of the following is an advantage of using an internal database?

internal databases can be assessed more quickly and cheaply than other information sources

which of the following is a disadvantage of using information from internal databases?

internal information may be incomplete or in the wrong form for making decisions

which of the following is true about internet based survey research?

internet based survey research is characterized by high speed and low costs

which of the following is true of ethnographic research

it involves sending observers to watch and interact with consumers in their natural enviroments

Loft Industries sells roof trusses to contractors and builders and is currently looking for honest feedback on its services. However, in the past most of its efforts to produce feedback from customers did not yield any meaningful data. According to the marketing managers of Loft Industries, feedback was more polite than honest. Which of the following contact methods should Loft most likely use to maximize its chances of receiving honest and impersonal feedback? A) online focus groups B) telephone interviews C) mail questionnaires D) group interviews E) personal interviews

mail questionaries

an ______ consist 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

marketing information system

the market researchers at honeycamp foods gather daily sales data and sort it by product line and region. with the help of sophisicated tools and techniques, they develop the data needed by marketing managers....

marketing information system

________ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

marketing research

With the recent explosion of information technologies, ________.

most marketing managers are overloaded with data and often overwhelmed by it

_____ involves gathering primary data by closely examing relevant people, actions, and sitautions

observation research

Jaime Gonzalez owns a small publishing company in Utah and has a very restrictive budget for the market research he currently needs to conduct. He requires a large sample size for his research in order to arrive at insightful conclusions. Additionally, he wants to have excellent control over his sample. Keeping in mind his restrictive budget and other specifications, which of the following methods of contact would you advise Jaime to use?

online surveys

a ____ is a segment of the population selected for marketing research to represent the population as a whole

sample

Jake Adams works for a marketing research firm and is currently conducting research for a company that wants to investigate multiple international markets for the possibility of expansion. Internet-based survey research would be the most attractive research option for Jake if his client ________. A) places a high emphasis on speed B) requires a small sample size C) places a high emphasis on following intrusive research methods D) wants to exercise full control over the online sample E) places a high emphasis on ethnographic research

places a high emphasis on speed

which of the following refers to a nonprobability sample in which the researcher finds and interviews a prescribed number of people in each of several categories

quota sample

For her current research project, Margaret Rogers wants to select a sample in which every member has a known and equal chance of selection. In other words, Margaret is looking for a ________.

simple random sample

__________ involves gathering primary data by asking people questions about their knowledge, attitudes, preferences, or buying behavior. it is the most widely used method for primary data collection

survey research

which of the following is true about survey research

survey research is the most widely used method for primary data collection

the objective of casual research is to _____

test hypotheses about cause and effect relationships

which of the following is an advantage of telephone interviews?

the speed with which data collected is high

what is the purpose of data warehouses?

to gather and integrate data in a central, accessible location