MKTG 220 Chapter 4 Quiz

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

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 business

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 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 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 managers 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 that it is in the U.S.

​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

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 market 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

focus group interview

Competitive marketing intelligence uses ___ data sources

publicly available

A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is

subjective

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

touch point