Chapter 4 Marketing

Which of the following statements about competitive marketing intelligence is​ correct?

The goal of competitive marketing intelligence is to improve strategic decision making

What is the overall purpose of customer insight​ teams?

To develop customer insights from which the company can create more value for customers

online marketing research

collecting primary data through internet and mobile surveys, online focus groups, consumer tracking, experiments, and online panels and brand communities

internal databases

collections of consumer and market information obtained from data sources within the company network

__________ is the systematic​ monitoring, collection, and analysis of publicly available information about​ consumers, competitors, and developments in the marketplace.

competitive marketing intelligence

What is the first step in marketing research​ process?

define the problem

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

exploratory

Companies can allow key customers and​ value-network members to access​ account, product, and other data through​ __________.

extranets

Companies set up​ ________, which allow key customers and​ value-network members to access​ product, account, and other data anytime they need to.

extranets

You and seven other people are talking with a trained moderator about your feelings and thoughts regarding a potential new product. For doing​ this, you receive a small payment. You are participating in​ a(n) ________.

focus group interview

customer insights

fresh marketing information-based understandings or customers and the marketplace that becomes the basis for creating customer value, engagement, and relationships

online focus groups

gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior

survey research

gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior

observational research

gathering primary data by observing relevant people, actions, and situations

experimental research

gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses

descriptive research

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

exploratory research

marketing research to gather preliminary information that will help define problems and suggest hypotheses

casual research

marketing research to test hypotheses about cause-and-effect relationships

Small businesses and​ not-for-profit organizations can obtain good marketing insights through​ __________.

observation research

marketing analytics

the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance

big data

the huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies

marketing research process

1. defining the problem and research objectives 2. developing the research plan for collecting information 3. implementing the research plan-collecting and analyzing the data 4. interpreting and reporting the findings

Which one of the following statements about marketing research in small businesses and​ non-profit organizations is​ correct?

Although the research methods used by small businesses and nonprofits are less complex and​ costly, they still must be conducted carefully

Companies use​ ________ to manage detailed information about individual customers.

CRM

In response to concerns about intrusions of​ privacy, most large companies now appoint a​ ________ to safeguard the information of consumers who do business with the company.

Chief Privacy Officer​ (CPO)

MIS begins and ends with information users. Which of the following statements is not an advantage of​ MIS?

MIS may provide information to external​ partners, such as​ suppliers, resellers, or marketing services agencies.

Which of the following statements discussing big data is not​ true?

Marketers can access and easily sift through the data once it is available.

Which of the following statements about big data is​ correct? -Big data is important because marketers today need more information to make good decisions. -One result of big data is that marketing managers are often overloaded and overwhelmed with information. -Analyzing big data always leads to useful customer insights. -Analyzing big data is an easy task. -Big data actually refers to very small data sets.

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 than it is in the United States.

ethnographic research

a form of observational research that involved sending trained observers to watch and interact with consumers in their "natural environments"

sample

a segment of the population selected for marketing research to represent the population as a whole

A colleague needs to collect descriptive data about her​ customer's attitudes. She has not done this type of research before. What research approach would you recommend to best suit this research​ project?

a survey

The main purpose of CRM is to​ __________.

build stronger customer relationships

Many companies manage detailed information about individual customers by using all of the following methods except​ __________.

collecting and storing huge amounts of data

Much of​ Pinterest's success is due to how it used marketing information to​ ________.

identify unique customer insight

primary data

information collected for the specific purpose at hand

secondary data

information that already exists somewhere, having been collected for another purpose

To develop needed​ information, marketing information systems utilize​ ________.

internal​ databases, marketing​ intelligence, and marketing research

According to the​ text, two major public policy and ethical issues in marketing research are​ ________.

intrusions on consumer privacy and the misuse of research findings

customer relationship management (CRM)

managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty

marketing information systems (MIS)

people and procedures 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

focus group interviewing

personal interviewing that involved inviting small groups of people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer "focuses" the group discussion on important issues

To deliver real value to​ marketers, marketing information must​ ________.

provide useful customer insights

MIS interacts with information users in several ways which include all of the following except​ __________. -helping to develop customer insights -assessing information needs -providing concise information -helping to conduct marketing research -providing marketing intelligence activities

providing concise information

Competitive marketing intelligence uses​ ________ data sources.

publicly available

The marketing research industry is considering several options for responding to intrusion and privacy​ issues, which includes all of the following except​ __________.

sharing information widely

marketing research

the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization

competitive marketing intelligence

the systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and developments in the marketing environments

One advantage to using internal databases for information is that​ ________.

they can be accessed quickly and cheaply

Any contact between a customer and a company is called a​ ________.

touch point

behavioral targeting

using online consumer tracking data to target advertisements and marketing offers to specific consumers