Marketing Ch. 4

What are the four steps of the marketing research process in their correct​ sequence?

Define the problem and research​ objectives, develop the research​ plan, implement the research​plan, interpret and report the findings

Companies apply​ ________ to dig out meaningful patterns in big data and gain customer insights and gauge marketing performance.

Marketing analytics

What do marketers use to analyze big​ data?

Marketing analytics Marketing analytics consists of analysis​ tools, technologies, and processes that are used to dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

Which of the following is true regarding international marketing​ research?

Translating questionnaires from one language to another is not an easy task.

Companies use software that​ integrate, analyze, and apply the mountains of individual customer data to gain​ ________.

A 360-degree view of customers and build stronger customer relationships

Customer insights come from good marketing​ information, which contribute to creating value and meaningful customer relationships. Companies use these customer insights to develop​ ________.

A competitive advantage

To gain good customer​ insights, marketers must effectively manage marketing information from​________.

A wide range of sources

The marketing information system​ (MIS) first​ ________, which primarily serves the​ company's marketing and other​ managers, but it might also provide information to external partners.

Assesses information needs

To​ ________ for customers and​ ________, marketers must first gain​ fresh, deep insights into what customers need and want.

Create​ value; build meaningful relationships with them

To analyze individual customer​ data, many companies have now acquired or developed special software and analysis techniques called​ ________ software.

Customer relationship management​ (CRM) To analyze individual customer​ data, many companies have now acquired or developed special software and analysis techniques —called customer relationship management​ (CRM).

What is big​ data?

Data contained in huge and complex data sets

The third step in the marketing research process calls for implementing the marketing research plan by​________.

Gathering, processing, and analyzing the information

To deliver real value to​ marketers, marketing information must​ _________.

Provide useful customer insights

Failure to address privacy issues could result in​ ________.

​Angry, less cooperative consumers and increased government intervention

The marketing information system​ (MIS) helps users analyze and use the information to​ ________, ______________,​ _______________.

Develop customer​ insights, make marketing​ decisions, and manage customer relationships

The second step of the marketing research process is​ ________.

Developing a research plan

What are the three types of objectives a marketing research project might​ have?

Exploratory​ research, descriptive​ research, and causal research

Marketers are viewing information not only as an input for making better decisions but also as​ a(n) ______________.

Important strategic asset and marketing tool

What are the three general sources from which marketers can obtain​ information?

Internal​ data, marketing​ intelligence, and marketing research

The second critical phase in developing a marketing information system​ (MIS) is developing information. The information is developed from​ ________, __________, and​ ____________.

Internal​ databases, marketing intelligence​ activities, and marketing research

The fourth step in the market research process is​ ________.

Interpreting and reporting the findings

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

Two major public policy and ethics issues in marketing research are​ ________.

Intrusions on consumer privacy and the misuse of research findings

Some marketers face special marketing research​ situations, such as those conducting research in small​business, not-for-profit, or international situations. International researchers deal with great variances in​________, __________,​ __________, and​ ___________.

Levels of economic​ development, cultures and​ customs, buying​ patterns, and scarcity of secondary data

The 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 comprise a​ ________.

Marketing information system

The marketing information system​ (MIS) consists of​ _______, __________, and​ ___________to generate and validate actionable customer and market insights.

People and procedures for assessing information​ needs, developing the needed​ information, and helping salespersons use the information

Why do companies use customer relationship​ management?

To capture and use customer data

Marketing information has no value until it is used​ ________.

To make better marketing decisions

The Council of American Survey Research Organizations​ (CASRO) Code of Standards and Ethics for Survey Research outlines researcher responsibilities to respondents. Choose the most comprehensive set of responsibilities from the following.

​Confidentiality, privacy, and avoidance of harassment

The first step in the marketing research process involves defining the problem and setting the research objectives. The most comprehensive set of objectives are​ _________, ___________,​ ____________.

​Exploratory, descriptive, or causal research