Marketing chapter 4
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 intranet B. an internal database C. marketing intelligence D. online marketing research E. marketing research
B. an internal database
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 are not dependable. B. Most small businesses have no way of easily accessing customer insights. C. Customer insights are emotional and often irrelevant to a small business. D. Customer insights can provide valuable information to a small businesses. .E. Customer insights can be gained only through costly market research.
D. Customer insights can provide valuable information to a small businesses.
To develop needed information, marketing information systems utilize _________. A. internal databases, marketing research, and marketing managers B. marketing managers, information users, and internal databases C. internal databases, big data, and market research D. marketing intelligence, marketing research, and the marketing environment E. internal databases, marketing intelligence, and marketing research
E. internal databases, marketing intelligence, and marketing research
The role of a company's marketing information system (MIS) is important because ______________. a. it increases the likelihood that a customer will buy a product B. it maintains the company's internal database of customers C. it allows a company to outperform its competitors in the marketplace D. it ensures that the company will have good customer service E. it enables a company to use customer insights to improve relationships with customers
E. it enables a company to use customer insights to improve relationships with customers
Which of the following statements about big data is correct? a. big data actually refers to small data sets b. one result of big data is that marketing managers are often overloaded and overwhelmed with information c. analyzing big data is a very easy task d. big data is very important because marketers today need more information to make good decisions e. analyzing big data will always lead to useful customer insights
b. one result of big data is that marketing managers are often overloaded and overwhelmed with information
Competitive marketing intelligence is primarily responsible for _____________. a. defining the problem b. the systematic collection and analysis of publicly available information c. developing the research plan e. using primary data over secondary
b. the systematic collection and analysis of publicly available information
What is MIS? a. Customer relationship management b. customer insights team c. marketing information system d. competitive marketing intelligence e. internal database
c. marketing information system
Which of the following BEST describes the purpose of the customer insights team? a. to represent the company to its customers b. to develop new markets of customers for the company c. to advertise new products to customer bases d. to create more value for customers e. to instruct other company departments in customer service
d. to create more value for customers
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? a. conduct surveys or focus groups to gather information b. analyze the information gathered in market research c. determine how to use the information gathered by market research d. distribute necessary information to the marketing team e. assess the information needs of the company
e. assess the information needs of the company
Competitive marketing intelligence uses _________ data sources. a. competitor's internal b. expensive c. private d. internal e. publicly available
e. publicly available
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. an ethnographic study b. secondary data c. an experiment d. observation e. survey
e. survey