Marketing Exam 1 Chapter 4

1. ______ 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.

a) Marketing analytics

1. Which of the following BEST describes the research​ relationships?

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

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

a) One result of big data is that marketing managers are often overloaded and overwhelmed with information.

1. Which of the following statements about online research is​ correct?

a) Online surveys generally have higher response rates than those conducted by mail or phone.

1. Many companies build extensive electronic collections of consumer and market information obtained from data sources within the​ company's network. This is known as​ ___________.

a) an internal database

1. PepsiCo has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product (i.e., describe the target market), PepsiCo should most likely use ________.

a) descriptive research

1. 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) A company extranet

1. Which kind of company would most benefit from conducting marketing​ research?

a) Both large multinationals like Disney and IBM and small locals truly need market research.

1. Jimmy Smith has a limited budget to conduct market research. Which of the following research approaches would provide Jimmy with the most cost-effective way to reach a large number of respondents in a short period?

a) Internet-based surveys

1. A market researcher wants to find the cause-and-effect relationship between using organic ingredients in food and the subsequent consumption by customers. He invites ten respondents to his research firm and asks them to taste two identical dishes. The dishes were prepared in a similar manner, but one has natural herbs for flavoring, and the other has artificial flavors. This is an example of ________.

a) experimental research

1. Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________.

a) experimental research

1. The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses.

a) exploratory

1. 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) ________.

a) focus group interview

1. Jennifer Davis, the owner of an alcohol distributing company, collects data from her monthly records of sales, costs, and cash flow. In this case, Jennifer is making use of ________ databases.

a) internal

1. To develop needed​ information, marketing information systems utilize​ _________.

a) internal​ databases, marketing​ intelligence, and marketing research

1. The role of a​ company's marketing information system​ (MIS) is important because​ ______________.

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

1. Competitive marketing intelligence is primarily responsible for​ _____________.

a) the systematic collection and analysis of publicly available information

1. Any contact between a customer and a company is called​ a(n) _________.

a) touch point