question

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.

answer

Big Data

question

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.

answer

customer insights teams

question

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.

answer

marketing information system

question

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

answer

Competitive marketing intelligence

question

The first stage of the marketing research process, which involves ________, is often the most difficult step in the research process.

answer

defining the research problem and setting research objectives

question

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.

answer

Ethnographic

question

________ integrates everything that a company's sales, service, and marketing teams know about individual customers, providing a 360-degree view of the customer relationship.

answer

CRM

question

Many firms securely share relevant sales, inventory, product development, and marketing information with suppliers and other external partners via its ________.

answer

extranet

question

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 ________.

answer

consumer privacy

question

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.

answer

personalization

question

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

answer

provide useful customer insights

question

What is the overall purpose of customer insight groups?

answer

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

question

Which of the following statements about big data is correct?

answer

One result of big data is that marketing managers are often overloaded and overwhelmed with information.

question

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

answer

identify a unique customer insight

question

To develop needed information, marketing information systems utilize ________.

answer

internal databases, marketing intelligence, and marketing research

question

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

answer

they can be accessed quickly and cheaply

question

Competitive marketing intelligence uses ________ data sources.

answer

publicly available

question

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

answer

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

question

________ is the first step in the marketing research process.

answer

define the problem and research objectives.

question

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) ________.

answer

focus group interview

question

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?

answer

A survey

question

Which of the following statements about online research is correct?

answer

Online surveys generally have higher response rates than those conducted by mail or phone.

question

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

answer

Touch point

question

Companies use ________ to gather company wide, finely detailed customer and market information and store it in a centralized and accessible location.

answer

data warehouses

question

Companies use ________ to sift through large amounts of big data and dig out interesting findings relevant to creating customer value.

answer

Data mining

question

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

answer

extranets

question

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

answer

Although the research methods of small businesses and nonprofits are less complex and costly, they still must be conducted carefully.

question

Which of the following would be good advice for someone that is conducting marketing research in a foreign country?

answer

Reaching respondents in other parts of the world is more difficult than it is in the United States.

question

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

answer

intrusions on consumer privacy and the misuse of research findings

question

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.

answer

Chief Privacy Officer (CPO)

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