4.2 Research the Market

A good survey should A) Have easy-to-answer questions, B) Be at least two pages long, C) Explain in detail why you are conducting the survey, D) All of these

A) Have easy-to-answer questions

Finding hidden patterns and relationships in customer data is called data A) mining, B) Warehousing, C) Collection, D) Evaluation

A) Mining

Customer relationship management focuses on A) understanding customers as individuals, B) Understanding customers as part of a group, C) identifying a target market, D) None of these

A) Understanding customers as individuals

Which of the following is not a way to collect primary data? A) Focus groups, B) Consumer opinion blogs, C) Surveys, D) Observation.

B) Consumer opinion blogs

In the first step in the market research process, you need to A) Determine what data you need to collect, B) define the market research question, C) Decide how you will gather data, D) determine how much data you will need to collect.

B) Define the market research question

Social media marketing A) Helps a company get indirect feedback from customers, B) Is a useful but expensive way to promote a product, C) Is a good way for companies to increase exposure, D) Has failed to catch on because not everyone uses social media.

C) Is a good way for companies to increase exposure

In designing a survey, you should consider all of the following expect A) length of the survey, B) how you plan to administer it, C) when you can get the best information, D) The purpose of each question

C) When you can get the best information

Secondary data are found A) In government publication, B) On the internet, C) In newspaper, D) All of these

D) All of these

Which of the following is not an example of a touch point? A) Product registration form, B) The return of a completed warranty card, C) A request for product information, D) An order of goods from a supplier.

D) An order of goods from a supplier

True or False: Focus group are quick interviews with target customers

False

True or False: Observations is the best research method if you want to find out people's opinions.

False

True or False: The first step in conducting primary market research is to select a research method.

False

True or False: The movement of data between locations in a structured, computer-retrievable formal is known as electronic data mining.

False

True or False: Collecting primary data can be expensive time-consuming

True

True or False: Economic trends and industry forecasts help determine the kind of primary data research to perform.

True

True or False: Information collected for the very first time to fit a specific purpose is primary data.

True

True or False: Surveys should be kept to a page in length when read over the phone or mailed to respondents.

True

True or False: The goal of social media marketing is to product content that users will share with their social network to help a company reach more customers.

True