Question 1

Differentiate between intranets and extranets. How are such systems beneficial to marketing managers?

Accepted Answer

Information distribution involves entering information into databases and making it available in a timely, user-friendly way. Many firms use company intranet and internal CRM systems to facilitate this process. These systems provide ready access to research and intelligence information, customer contact information, reports, shared work documents, and more. In addition, companies are increasingly allowing key customers and value-network members to access account, product, and other data on demand through extranets. Suppliers, customers, resellers, and select other network members may access a company's extranet to update their accounts, arrange purchases, and check orders against inventories to improve customer service.

Question 2

Data collection, processing, and analysis are undertaken during which stage of the marketing research process?

Accepted Answer

A)  selecting a sampling method 
B)  interpreting the findings 
C)  implementing the research plan 
D)  drawing conclusions from the findings 
E)  selecting a research approach 
A)  selecting a sampling method 
B)  interpreting the findings 
C)  implementing the research plan 
D)  drawing conclusions from the findings 
E)  selecting a research approach C

Question 3

CRM analysts use big data and marketing analytics to unearth patterns in customer data.

Accepted Answer

A) True 
 B)False  True

Question 4

Exploratory research would be used to gather data about the market potential for a new product.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following demonstrates the real value of a company's marketing research and information system?

Accepted Answer

A)  the amount of data it generates 
B)  the variety of contact methods it uses 
C)  the tools it uses to gather information 
D)  the quality of customer insights it provides 
E)  the type of sampling plan it follows 
A)  the amount of data it generates 
B)  the variety of contact methods it uses 
C)  the tools it uses to gather information 
D)  the quality of customer insights it provides 
E)  the type of sampling plan it follows

Question 6

Individual interviews cost three to four times as much as telephone interviews.

Accepted Answer

A) True 
 B)False

Question 7

________ outlines sources of existing data as well as specific research approaches, sampling plans, and measurement instruments.

Accepted Answer

A)  The research plan 
B)  The data collection plan 
C)  The main research objective 
D)  The problem definition 
E)  The research findings 
A)  The research plan 
B)  The data collection plan 
C)  The main research objective 
D)  The problem definition 
E)  The research findings

Question 8

Marketing research can be collected by mail, telephone, personal interview, or online. Discuss the advantages of each contact method.

Accepted Answer

Mail questionnaires can be used to colle

Question 9

The major advantage of survey research is its flexibility.

Accepted Answer

A) True 
 B)False

Question 10

The primary objective of causal research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.

Accepted Answer

A) True 
 B)False

Question 11

In a convenience sample, a researcher selects the easiest population members from whom to obtain information.

Accepted Answer

A) True 
 B)False

Question 12

Brooke's Boutique plans to launch a new clothing line. For this purpose, the firm first conducts a survey to understand its target audience and identify the demographics of potential buyers. It then conducts experimental research to test whether customers associate discounted prices with lower product quality. Which types of research has the boutique employed in this case?

Accepted Answer

A)  exploratory followed by causal 
B)  exploratory followed by descriptive 
C)  descriptive followed by exploratory 
D)  descriptive followed by causal 
E)  causal followed by descriptive 
A)  exploratory followed by causal 
B)  exploratory followed by descriptive 
C)  descriptive followed by exploratory 
D)  descriptive followed by causal 
E)  causal followed by descriptive

Question 13

Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners?

Accepted Answer

A)  nonprobability sampling tool 
B)  mechanical instrument 
C)  neuromarketing tool 
D)  touch point device 
E)  CRM system 
A)  nonprobability sampling tool 
B)  mechanical instrument 
C)  neuromarketing tool 
D)  touch point device 
E)  CRM system

Question 14

Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following sources constitutes the internal database of a company?

Accepted Answer

A)  commercial online databases 
B)  conversations on social media 
C)  the company's sales records 
D)  reports sold by market research firms 
E)  the Web 
A)  commercial online databases 
B)  conversations on social media 
C)  the company's sales records 
D)  reports sold by market research firms 
E)  the Web

Question 16

Which of the following is true about customer relationship management (CRM)?

Accepted Answer

A)  It eliminates the need for primary research. 
B)  It minimizes the need for costly marketing analytics. 
C)  It relies on the use of exploratory and causal research. 
D)  It consists of sophisticated software and analytical tools. 
E)  It excludes data on existing customers to focus on potential customers. 
A)  It eliminates the need for primary research. 
B)  It minimizes the need for costly marketing analytics. 
C)  It relies on the use of exploratory and causal research. 
D)  It consists of sophisticated software and analytical tools. 
E)  It excludes data on existing customers to focus on potential customers.

Question 17

A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ________.

Accepted Answer

A)  informal surveys 
B)  experimental research 
C)  neuromarketing 
D)  direct marketing 
E)  formal surveys 
A)  informal surveys 
B)  experimental research 
C)  neuromarketing 
D)  direct marketing 
E)  formal surveys

Question 18

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research.

Accepted Answer

A)  quantitative 
B)  online 
C)  ethnographic 
D)  experimental 
E)  archival 
A)  quantitative 
B)  online 
C)  ethnographic 
D)  experimental 
E)  archival

Question 19

Which of the following statements regarding marketing intelligence is true?

Accepted Answer

A)  Marketing intelligence typically involves sensitive and confidential information kept out of the public domain. 
B)  The advantage of using competitive intelligence is negligible as it is based only on internal sources of data. 
C)  All marketing intelligence inputs are available at no cost to any potential users. 
D)  Marketing intelligence is the systematic collection, monitoring, and analysis of publicly available information. 
E)  Marketing intelligence efforts are more focused on gaining insights into a firm's consumers rather than its competitors. 
A)  Marketing intelligence typically involves sensitive and confidential information kept out of the public domain. 
B)  The advantage of using competitive intelligence is negligible as it is based only on internal sources of data. 
C)  All marketing intelligence inputs are available at no cost to any potential users. 
D)  Marketing intelligence is the systematic collection, monitoring, and analysis of publicly available information. 
E)  Marketing intelligence efforts are more focused on gaining insights into a firm's consumers rather than its competitors.

Question 20

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

Accepted Answer

A)  sales data from exclusive Hammond retailers 
B)  archival data on company performance 
C)  competitive marketing intelligence 
D)  research on demographics of its existing customers 
E)  internal survey on employee performance 
A)  sales data from exclusive Hammond retailers 
B)  archival data on company performance 
C)  competitive marketing intelligence 
D)  research on demographics of its existing customers 
E)  internal survey on employee performance

Differentiate between intranets and extranets. How are such systems beneficial to marketing managers?

Data collection, processing, and analysis are undertaken during which stage of the marketing research process?

CRM analysts use big data and marketing analytics to unearth patterns in customer data.

Exploratory research would be used to gather data about the market potential for a new product.

Which of the following demonstrates the real value of a company's marketing research and information system?

Individual interviews cost three to four times as much as telephone interviews.

________ outlines sources of existing data as well as specific research approaches, sampling plans, and measurement instruments.

Marketing research can be collected by mail, telephone, personal interview, or online. Discuss the advantages of each contact method.

The major advantage of survey research is its flexibility.

The primary objective of causal research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.

In a convenience sample, a researcher selects the easiest population members from whom to obtain information.

Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners?

Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.

Which of the following sources constitutes the internal database of a company?

Which of the following is true about customer relationship management (CRM)?

A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ________.

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research.

Which of the following statements regarding marketing intelligence is true?

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters

Exam 4: Managing Marketing Information to Gain Customer Insights

Differentiate between intranets and extranets. How are such systems beneficial to marketing managers?

Data collection, processing, and analysis are undertaken during which stage of the marketing research process?

CRM analysts use big data and marketing analytics to unearth patterns in customer data.

Exploratory research would be used to gather data about the market potential for a new product.

Which of the following demonstrates the real value of a company's marketing research and information system?

Individual interviews cost three to four times as much as telephone interviews.

________ outlines sources of existing data as well as specific research approaches, sampling plans, and measurement instruments.

Marketing research can be collected by mail, telephone, personal interview, or online. Discuss the advantages of each contact method.

The major advantage of survey research is its flexibility.

The primary objective of causal research is to describe things, such as the market potential for a product or the demographics and attitudes of consumers who buy the product.

In a convenience sample, a researcher selects the easiest population members from whom to obtain information.

Harmon, a nationwide department store, uses checkout scanners to record shoppers' purchases. Which term best describes Harmon's checkout scanners?

Marketing research is the systematic design, collection, analysis, and reporting of data directly relevant to a specific marketing situation facing an organization.

Which of the following sources constitutes the internal database of a company?

Which of the following is true about customer relationship management (CRM)?

A not-for-profit firm uses a small convenience sample to gather data on customer reactions. It invites a small group of customers for lunch and asks them to share what they think about the products they have purchased from the firm. This is an example of ________.

A company that sells personal care products sends a trained observer to watch potential buyers in their natural environments. This is an example of ________ research.

Which of the following statements regarding marketing intelligence is true?

Hammond Corp. operates in the highly aggressive electronics market. The firm aims to obtain early warnings of opportunities and threats caused by the actions of other firms that are doing well in the industry. Which of the following sources would best serve Hammond's purpose?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

The Global Marketplace

Social Responsibility and Ethics

Filters