Principles of Marketing Chapter 4 Lab questions
A company is conducting market research to determine the best areas to sell its product. It has already determined the research plan. What is the next step of this company's research plan?
implement the plan
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
inform customers of the company's privacy policy
the real value of marketing information rests in the _______
customer insights it provides
in a. _________- sample, the population is divided into mutually exclusive groups and the researcher draws a sample of the groups to interview
cluster
marketing information is of no value until it is used for what purpose
to make better marketing decisions
___________ consist of information collected for the specific purpose at hand
primary data
which types of companies would most benefit from conducting marketing research
both large multinational firms like Disney and IBM and small local firms
which of the following best describes the purpose of customer insights
to create more value for customers
________ is gathering primary data by observing relevant people, actions, and situations
observational research
a power tool company wants to give its customer access to internal, nonpublic 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
an __________ refers to electronic collections of customer and marketing information obtained from data sources within the company network
internal database
__________ are segments of the population selected for marketing research to represent the population as a whole
samples
which of the following is the primary reason firms use competitive marketing intelligence
to gain early insights into competitor moves and strategies, and to prepare quick responses
which of the following is not a primary goal of competitive marketing intelligence
creating an understanding of the business to business environment
Marketers obtain needed marketing information from which of the following?
internal data, marketing intelligence, and marketing research
___________ is marketing research to gather preliminary information that will help define problems and suggest hypotheses
exploratory research
Today's marketers see information not only as a tool for input for better decision-making, but also as ___________________________.
an important strategic asset and marketing tool
which of the following is not a step in the marketing research process?
comparing research findings to other studies
___________ is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment
competitive marketing intelligence
a company's marketing system (MIS) is valuable because it ________
enables a company to use customer insights to improve relationships with customers
in simple random sample __________
every member of the population has a known and equal chance of selection
which of the following describes the type of research used to help define the problem and suggest hypothesis
exploratory research
which of the following best describes research relationships
observation is best suited for exploratory research, surveys for descriptive research, and experiments for causal research
customer insights are _____________
fresh understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships
in a _____ sample, the population is divided into mutually exclusive groups and random samples are drawn from each group
stratified random
______________ is gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior
survey research
which of the following is not true regarding international marketing research
the cost of international research is lower
____________ is a form of observational research that involves sending trained observers to watch and interact with consumers in their "natural environments"
ethnographic research
____________ is marketing research to test hypothesis about cause-and-effect relationships
casual research
why is it important for a company to collet both primary and secondary data when conducting marketing research
to have a "full picture" of the subject of its study
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
touch points
what constitutes a marketing information system (MIS)
a system to generate and validate actionable customer and market insights
what are the three general sources from which marketers can obtain information
internal data, marketing intelligence, and marketing research
__________ 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 analytic
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
marketing information system
an ________ is people and processes dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights
marketing information system
Two major public policy and ethical issues in marketing research are ________.
Intrusions on consumer privacy and misuse of research findings
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
asses the information needs of the company
the __________ outlines researcher responsibilities to respondents, including confidentiality, privacy, and avoidance of harassment
code of standards and ethics for survey research
Juanita owns a small hot-air balloon company in Albuquerque, New Mexico. She recently started a Facebook page for her company, and many of her customers are asking for store-sponsored hot-air balloon trips. They believe Juanita's expertise would make her the perfect guide. Juanita 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 Juanita's situation?
customer insights can provide valuable information to a small businesses
what is the correct sequence of the four steps of the marketing research process
define the problem and research objectives, develop the research plan, implement the research plan, interpret and report the findings
______________ is marketing research to better describe marketing problems, situations, or markets such as the market potential for a product or the demographics and attitudes of consumers
descriptive research
secondary data are ___________
information that already exists somewhere, having been collected for another purpose
__________- is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization
marketing research
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 ________________________.
practice customer relationship management
Companies need meaningful customer insights so they can
produce superior value for their customers
_________ refers to a prescribed number of people in each of several categories who are identified and interviewed by the researcher
quota sample
which of the following would be good advice for someone conducting marketing research in a foreign country
reaching respondents in other parts of the world is more difficult than it is in the united states
which of the following information must a researcher evaluate to make certain it is relevant, accurate, and impartial
secondary information
_____________ is gathering primary data by selecting marched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses
experimental research
there are several types of objectives market researchers might use in a use in a marketing research project. which of the following are the primary types of objectives
exploratory research, descriptive research, and casual research
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
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