Marketing Chapter 4
Competitive marketing intelligence is primarily responsible for _____________.
the systematic collection and analysis of publicly available information
Any contact between a customer and a company is called a(n) _________.
touch point
A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is _________.
subjective
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 company extranet
What is MIS?
A marketing information system
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 survey
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?
Access the information needs of the company
Which kind of company would most benefit from conducting marketing research?
Both large multinationals like Disney and IBM and small locals truly need market research.
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?
Collect the data
Which of the following is NOT a step in the marketing research process?
Comparing research findings to other studies
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?
Customer insights can provide valuable information to a small businesses.
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?
Inform customer's 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 the 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 manager 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 U.S.
Which of the following BEST describes the purpose of the customer insights team?
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
Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as ___________.
an internal database
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 interview
To develop needed information, marketing information systems utilize _________.
internal databases, marketing intelligence, and marketing research
The role of a company's marketing information system (MIS) is important because ______________.
it enables a company to use customer insights to improve relationships with customers
Competitive marketing intelligence uses _________ data sources.
publicly available
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?
send researchers door-to-door to collect the data from target consumers