Marketing chapter 4
an important strategic asset and marketing tool
Today's marketers see information not only as a tool for input for better decision-making, but also as ___________________________.
intrusions on consumer privacy and the misuse of research findings
Two major public policy and ethics issues in marketing research are ________.
To make better marketing decisions
Marketing information is of no value until it is used for what purpose?
develop customer insights, make marketing decisions, and manage customer relationships
A marketing information system (MIS) helps users analyze and use information to ________, ______________, and _______________.
Inform customers of the company's privacy policy
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?
marketing information system
A __________________________ consists of 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.
enables a company to use customer insights to improve relationships with customers
A company's marketing information system (MIS) is valuable because it ___________________.
big data
Huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies are referred to as _______.
practice customer relationship management
Software and analytical techniques that integrate, analyze, and apply the mountains of individual customer data to gain a 360-degree view of customers enable companies to ________________________.
levels of economic development, cultures and customs, buying patterns, and scarcity of secondary data
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 ___________.
assesses information needs
The marketing information system (MIS) first ________.
technology processes only
The most common mistake firms make is to view CRM, marketing analytics, and AI as _______.
internal databases, marketing intelligence activities, and marketing research
The second critical phase in developing a marketing information system (MIS) is developing information. The information is developed from ________, __________, and ____________.
Exploratory research, descriptive research, and causal research
There are several types of objectives market researchers might use in a marketing research project. Which of the following are the primary types of objectives?
Define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings
What is the correct sequence of the four steps of the marketing research process?
Touch points
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?
Assess the information needs of the company
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?
Marketing analytics
___________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.
create value; build meaningful relationships with them
To ________ for customers and ________, marketers must first gain fresh, deep insights into what customers need and want.
observation, surveys, and experiments
Which of the following correctly identifies the three research approaches for gathering primary data?
Secondary information
Which of the following information must a researcher evaluate to make certain it is relevant, accurate, and impartial?
The cost of international research is lower.
Which of the following is NOT true regarding international marketing research?
To gain early insights into competitor moves and strategies, and to prepare quick responses
Which of the following is the primary reason firms use competitive marketing intelligence?
Online surveys generally have higher response rates than those conducted by mail or phone.
Which of the following statements about online research is correct?
Although the research methods of small businesses and nonprofits are less complex and costly, they still must be conducted carefully.
Which one of the following statements about marketing research in small businesses and nonprofit organizations is correct?
