BNAD CH 4 – Flashcard
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Which of the following statements about big data is correct?
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One result of big data is that marketing managers are often overloaded and overwhelmed.
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Which of the following would be good advice for someone that is conducting marketing research in a foreign company?
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Research respondents in other parts of the world is more difficult than it is in the U.S.
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A power tool company wants to give its customers access to internal, non-public information about how best to use its product. What does the company create to provide customers with information?
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A company extranet
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Competitive marketing intelligence is primarily responsible for ________.
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the systematic collection and analysis of publicly available information
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Cupcakes by Cindy is attempting to gather information about its customers in order to improve customer service. Which of the following ways should the company use to start to develop an efficient MIS?
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Assess the information needs of the company
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A colleague needs to collect descriptive data about his customers attitudes. He has not done this type of research before. What do you recommend to best suit this research project?
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A survey
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Which of the following is NOT a step in the marketing research process?
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Comparing research findings to other studies
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Which of the following BEST describes the purpose of the customer insights team?
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To create more value for customers
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You and seven other people relay your feelings and thoughts about a potential new product to a trained moderator. In exchange for money, you are participating in a(n) ________.
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focus group interview
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A company is conducting market research to determine the best areas to sell its product. It has already determined its research question. What is the next step in the company's research plan?
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Collect data
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Which of the following BEST describes the research relationships?
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Observation is best suited for expiatory research, surveys for descriptive research, and experiments for causal research.
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A researcher must always evaluate secondary information carefully; however, the researcher does not need to ensure the evaluation is ______.
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subjective
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Competitive marketing intelligence uses _______ data sources.
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publicly available
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Which kind of company would most benefit from conducting marketing research?
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Both large multinationals like Disney and IBM and small locals true need marketing research.
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Which of the following statements about online research is correct?
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Online surveys generally have higher response rates than those conducted by mail or phone.
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An international company has appointed a CPO to ensure the privacy and confidentiality of the consumer data it collects. Which of the following does a CPO have to do as a function of his job?
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Inform customers of the company's privacy policy.
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To develop needed information, marketing information systems utilize ___________.
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internal databases, marketing intelligence, and marketing research
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_______ consists of the analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data marketing performance.
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Marketing analytics
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What is MIS?
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A marketing information system
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Why is it important for a company to collect both primary and secondary data when conducting marketing research?
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To have a "full picture" of the subject of its study
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Any contact between a customer and company is called a(n) ________.
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touch point
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Many companies build extensive electronic collections of consumer and market information obtained from data sources called _______.
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an internal database
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Lydia's lights wants to extend its market into Mexico. Before jumping in, the company needs to conduct some in-depth research and figure out buying patterns. Which of the following is the BEST option for Lydia's Lights?
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Send researchers door-to-door to collect the data from target consumers.
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Sky owns a small hot air balloon company in Albuquerque, New Mexico. He recently started a Facebook page for his company for store-sponsored hot air balloon trips. They believe Sky's expertise would make him the perfect guide. Sky decides to hire a marketing team and experiences huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be made?
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Customers insights can provide valuable information to a small businesses
