BUS 312 Chapter 4 review – Flashcards

​Today, many marketing managers are overloaded and sometimes overwhelmed by the amount of market information available to them.​ ________ is the general term that refers to the problems and opportunities that emerge from organizations attempting to make sense of the large complex datasets that have been amassed from a variety of sources. A. marketing intelligence B. big data C. market research D. internal data E. positioning

Companies like​ Coca-Cola and Geico have formed​ ________, typically led by a senior marketing executive and made up of experts from across the​ organization, whose purpose is to collect and analyze customer and market information from a wide variety of sources in order to identify and act upon new market opportunities. A. social media monitoring command centers B. marketing research departments C. customer advocacy groups D. employee focus groups E. customer insights teams

To deliver real value to​ marketers, marketing information must​ ________. A. increase the​ company's profits B. be obtained inexpensively C. provide useful customer insights D. come from big data E. be quantitative

What is the overall purpose of customer insight​ groups? A. To develop customer insights from which the company can create more value for customers B. To monitor social media while other research teams mine big data C. To use information to increase company profits D. To collect information from a narrow range of data sources E. To identify underperforming products

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

Much of​ Pinterest's success is due to how it used marketing information to​ ________. A. identify a unique customer insight B. increase its profits C. understand that its site was not useful to businesses D. send targeted email to key customers E. change the name of its website

A​ ________ consists of 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. A. CRM system B. data warehouse C. marketing department D. customer insights team E. marketing information system

​________ is the systematic​ monitoring, collection, and analysis of publicly available information about​ consumers, competitors, and developments in the marketplace. A. Big data B. A marketing information system C. Exploratory research D. Causal research E. Competitive marketing intelligence

To develop needed​ information, marketing information systems utilize​ ________. A. internal​ databases, marketing​ intelligence, and marketing research B. marketing​ intelligence, marketing​ research, and the marketing environment C. internal​ databases, big​ data, and market research D. marketing​ managers, information​ users, and internal databases E. internal​ databases, marketing​ research, and marketing managers

One advantage to using internal databases for information is that​ ________. A. internal information is accurate and complete B. internal information is in a form that is useful for making marketing decisions C. the information stored in internal databases is always current D. internal information sources are easy to manage E. they can be accessed quickly and cheaply

Competitive marketing intelligence uses​ ________ data sources. A. expensive B. ​competitor's internal C. internal D. publicly available E. private

Which of the following statements about competitive marketing intelligence is​ correct? A. Marketing intelligence information is not available from the U.S. government. B. Companies should not be concerned about competitors accessing publicly available information about them. C. The goal of competitive marketing intelligence is to improve strategic decision making. D. Marketing intermediaries are not good sources of competitive marketing intelligence. E. Monitoring a​ competitor's website is unethical.

The first stage of the marketing research​ process, which involves​ ________, is often the most difficult step in the research process. A. defining the research problem and setting research objectives B. implementing the marketing research plan C. developing a sampling plan D. developing a research plan for acquiring needed data E. designing the survey

Coors insight teams interact anonymously with bar​ patrons, supermarket​ shoppers, restaurant​ diners, and convenience store clerks to gain authentic insights into how middle American consumers​ buy, drink,​ dine, and socialize around Coors and competing brands. This is an example of​ ________ research. A. descriptive B. brand C. experimental D. ethnographic E. causal

________ is the first step in the marketing research process. A. Interpreting and reporting the findings B. Collecting data C. Developing the research plan D. Defining the problem and research objectives E. Analyzing data

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) ________. A. experiment B. individual interview C. focus group interview D. ethnographic study E. immersion group

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. Use secondary data B. Observation C. A survey D. An ethnographic study E. An experiment

Which of the following statements about online research is​ correct? A. Online research is feasible only for large companies. B. Focus groups are rarely conducted online. C. Experiments cannot be conducted online. D. It is more expensive to conduct online research than to do a​ mail, phone, or personal interview. E. Online surveys generally have higher response rates than those conducted by mail or phone.

________ integrates everything that a​ company's sales,​ service, and marketing teams know about individual​ customers, providing a​ 360-degree view of the customer relationship. A. CRM B. Neuromarketing C. Digital intelligence command center D. A focus group E. A commercial online database

Many firms securely share relevant​ sales, inventory, product​ development, and marketing information with suppliers and other external partners via its​ ________. A. marketing information system B. data warehouse C. CRM system D. intranet E. extranet

Any contact between a customer and a company is called a​ ________. A. sales call B. touch point C. service call D. satisfaction survey E. purchase

Companies use​ ________ to gather company​ wide, finely detailed customer and market information and store it in a centralized and accessible location. A. CRM B. data mining C. social media D. data warehouses E. touch points

Companies use​ ________ to sift through large amounts of big data and dig out interesting findings relevant to creating customer value. A. social media B. CRM C. data warehouses D. data mining E. touch points

Companies set up​ ________, which allow key customers and​ value-network members to access​ product, account, and other data anytime they need to. A. intranets B. wireless networks C. extranets D. websites E. data warehouses

Target recently made some of its customers very uneasy when it used its buying histories to figure out that it had a baby on the​ way, including accurate estimates of child gender and due date. This incident triggered an avalanche of public concern relating to​ ________. A. consumer privacy B. marketing information systems C. ​anti-competitive business practices D. Big Data E. product safety

Increasing consumer privacy concerns have become a major problem for the marketing research industry. Companies face the challenge of unearthing​ valuable, but potentially sensitive consumer​ data, while also maintaining consumer trust. At the same​ time, consumers wrestle with the​ trade-offs between​ ________ and privacy. A. public safety B. a more sustainable environment C. pricing discounts D. personalization E. loyalty program points

Which one of the following statements about marketing research in small businesses and​ non-profit organizations is​ correct? A. Good research requires large sample​ sizes, which are not feasible for small businesses and​ non-profits. B. Only large companies can afford to conduct marketing research. C. Small companies and​ non-profits do not need marketing information. D. Although the research methods of small businesses and nonprofits are less complex and​ costly, they still must be conducted carefully. E. Surveys are the only research approach that can be effectively used by small businesses and​ non-profits.

Which of the following would be good advice for someone that is conducting marketing research in a foreign​ country? A. Reaching respondents in other parts of the world is more difficult than it is in the United States. B. Globalization has slowed​ down, so international research is no longer necessary. C. Language translation will be easy. D. Consumers in foreign markets generally enjoy participating in marketing research. E. You can easily find good secondary data in most foreign markets.

According to the​ text, two major public policy and ethical issues in marketing research are​ ________. A. intrusions on consumer privacy and the misuse of research findings B. intrusions on consumer privacy and unsafe products C. international research and intrusions on consumer privacy D. improper sampling procedures and the misuse of research findings E. the misuse of research findings and deceptive advertising

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. A. Chief Operating Officer​ (COO) B. Chief Financial Officer​ (CFO) C. customer insight team D. Chief Privacy Officer​ (CPO) E. Chief Information Officer​ (CIO)

Marketing Research Process