Chapter 4 Quiz

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 company extranet

What constitutes a marketing information system​ (MIS)?

A system to generate and validate actionable customer and market insights

Which of the following is NOT a primary goal of competitive marketing​ intelligence?

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

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?

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?

Exploratory research

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) ________.

Focus group

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?

Implement the plan

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?

Inform customers of the​ company's privacy policy

​___________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.

Marketing analytics

Which of the following BEST describes research​ relationships?

Observation is best suited for exploratory​ research, surveys for descriptive​ research, and experiments for causal research.

Which of the following statements about big data is​ correct?

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?

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?

Secondary information

Which of the following BEST describes the purpose of customer​ insights?

To create more value for customers

Why is it important for a company to collect both primary and secondary data when conducting marketing​ research?

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

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?

Touch points

​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?

Assess the information needs of the company

Which types of companies would most benefit from conducting marketing​ research?

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?

Comparing research findings to other studies

The real value of marketing information rests in the​ _____________________.

Customer insights it provides

Marketers obtain needed marketing information from which of the​ following?

Internal​ data, marketing​ intelligence, and marketing research

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 is the primary reason firms use competitive marketing​ intelligence?

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

A​ company's marketing information system​ (MIS) is valuable because it​ ___________________.

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